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Cable Update (GBPUSD)

  • #735,541
  • Mar 10, 2023 11:22am Mar 10, 2023 11:22am
That was a 70+ pips bearish move.
Who would've thought.
Damn.
Exhausted
  • #735,542
  • Mar 10, 2023 11:23am Mar 10, 2023 11:23am
Quoting Elysion
That was a 70+ pips bearish move. Who would've thought. Damn.
a real crazy day it seems we’re settling for 12050 area which is limbo land lol
Insane in the Brain..
  • #735,543
  • Mar 10, 2023 11:31am Mar 10, 2023 11:31am
Quoting Mitiblotch
The interesting thing is that I am successful in what I do for a living, and I am successful as a forex trader. Matter of fact, since I started trading in 2017 (I learned forex in 2005 but didn't trade) I am currently in next profit. I survived whatever forex had to throw at me. I lost money at the beginning but I made it all back and more! The man with evidence is not at the mercy of the man with an argument. Hear me, @makingmoves, you are in deep trouble. Mark these words and write this day down. You will remember I said so. I will leave you henceforth...
I do think you're paying him/her it too much attention.
You remember that category to whom silence is the best answer? Yup, that's it right there.
Forget about that thing and let's chase these closing pips, pls.
  • #735,544
  • Mar 10, 2023 11:39am Mar 10, 2023 11:39am
My Last word or should i say chart before i finish for the week , Ma,s pivots whatever we use is fine but they must be in alignment with PA. Now look at the difference in the pa coming down after nfp, is it not obvious?

Attached Image (click to enlarge)
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Follow The Markets Structure - Patience and Discipline
  • #735,545
  • Mar 10, 2023 11:39am Mar 10, 2023 11:39am
4.5 hours left and the move down has stalled. Drop below 12040 could open up 12020-10 which would be something to build on for Monday
Insane in the Brain..
  • #735,546
  • Mar 10, 2023 11:40am Mar 10, 2023 11:40am
Quoting Elysion
That was a 70+ pips bearish move. Who would've thought. Damn.
It's easy overall, but most majority expected falling trend,
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  • #735,547
  • Mar 10, 2023 11:41am Mar 10, 2023 11:41am
gbpusd
buy again
S - 1.2038
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Trendlines H1,H4, SMC
  • #735,548
  • Mar 10, 2023 11:46am Mar 10, 2023 11:46am
Quoting josip
gbpusd buy again S - 1.2038 {image}
Right up to the 1.21 magnet.
  • #735,549
  • Mar 10, 2023 11:52am Mar 10, 2023 11:52am
Quoting dantpm
{quote} Right up to the 1.21 magnet.
I dont think we will touch today 1.21
1.2086 is my guess
Trendlines H1,H4, SMC
  • #735,550
  • Mar 10, 2023 11:55am Mar 10, 2023 11:55am
The global money supply M2 is currently contracting. This is the fifth time this has happened in the last 150 years. Each of the previous four cases resulted in economic depressions and double-digit unemployment rates.
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  • #735,551
  • Mar 10, 2023 11:56am Mar 10, 2023 11:56am
Quoting josip
{quote} I dont think we will touch today 1.21 1.2086 is my guess
It sure is working hard at it.
  • #735,552
  • Mar 10, 2023 12:12pm Mar 10, 2023 12:12pm
Too many people tried to jump on now it's backing up again,
  • #735,553
  • Mar 10, 2023 12:24pm Mar 10, 2023 12:24pm
Quoting donfriday
Losing is nothing when you have a good risk management
How do one learn risk management, is there any resources you can recommend please?

Thank you.
  • #735,554
  • Edited 12:45pm Mar 10, 2023 12:31pm | Edited 12:45pm
can go lower, if we stay below 1.2050
Attached Image (click to enlarge)
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Trendlines H1,H4, SMC
  • #735,555
  • Mar 10, 2023 12:37pm Mar 10, 2023 12:37pm
Quoting pipfarm
My Last word or should i say chart before i finish for the week , Ma,s pivots whatever we use is fine but they must be in alignment with PA. Now look at the difference in the pa coming down after nfp, is it not obvious? {image}
At hindsight, it's easy to pimp charts with all sorts of trendlines, but in real time, you don't know at what price the markets may reverse, that is why we set targets and Stop Losses.
What is important is to make a plan and follow it, let's not criticise bears for trying. I am going into the weekend sad for the losses but happy for following my plan.

Seems you missed my rhetorical question!? "Did you know price was going to hit 1.2100 today?"
Face 'ur fears & tame 'ur greed
  • #735,556
  • Mar 10, 2023 12:48pm Mar 10, 2023 12:48pm
I had to return to my desk this late Friday afternoon.
Things settling down a bit down now. I'll probably just skip my dinner, and go straight to party later.

Since I hold and trade bank stocks on Nasdaq, I was busy cutting exposures, and repositioned last few days. In case you've not known what was happening, the dollar selloff we saw after NFP was a convenient way for panic investors to offload US assets, massively, and seek shelter in safer jurisdictions. If you look into Swiss franc prices for last 2 days, you get what I mean.

There was no coincidence that we saw Cable rallied nearly 200 pips today. There was a brief relief at London close, when DXY dips stalled at 104. That was, when news of US regulators closes in to contain the SVB fallout. It was the first time since 2008 that a major FDIC-insured bank failed (not Lehman, was Wa. Mutual). So far, ramifications and consequences to greater banking system is still unknown. DXY now sort of settle down, climbed back to 104.50. This week, to be honest, there was no fundamental supporting Sterling, it was mainly due to USD jitters.

I'll keep an eye on the dollar trend. At this moment, I have my USD long against Sterling. Most of my dollar trades are shorts, against the Euro and yen. My view is that we might see a period when USD rebounces, going into FOMC and the week that follow. We'll see how federal regulators act in coming days, and if further volatility on banks capital levels can be contained. There'll be volatility when interbank events like this one happens, and, if it spreads. There'll always be opportunities, if well positioned. I might enter a small buy on the dollar next week, depending on market volatility.

Hope this helps. Take care, stay safe.
  • #735,557
  • Edited 1:04pm Mar 10, 2023 12:51pm | Edited 1:04pm
DX
is it right time to close gap?
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Trendlines H1,H4, SMC
  • #735,558
  • Mar 10, 2023 1:11pm Mar 10, 2023 1:11pm
15MIN
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have a great weekend...
  • #735,559
  • Mar 10, 2023 1:13pm Mar 10, 2023 1:13pm
Quoting cchin
I had to return to my desk this late Friday afternoon. Things settling down a bit down now. I'll probably just skip my dinner, and go straight to party later. Since I hold and trade bank stocks on Nasdaq, I was busy cutting exposures, and repositioned last few days. In case you've not known what was happening, the dollar selloff we saw after NFP was a convenient way for panic investors to offload US assets, massively, and seek shelter in safer jurisdictions. If you look into Swiss franc prices for last 2 days, you get what I mean. There was...
I thought it's just cause Swiss CPI 0,7 % on Monday, market expect Swiss bank increase rate, nope?
  • #735,560
  • Edited 1:37pm Mar 10, 2023 1:14pm | Edited 1:37pm
Quoting cchin
I had to return to my desk this late Friday afternoon. Things settling down a bit down now. I'll probably just skip my dinner, and go straight to party later. Since I hold and trade bank stocks on Nasdaq, I was busy cutting exposures, and repositioned last few days. In case you've not known what was happening, the dollar selloff we saw after NFP was a convenient way for panic investors to offload US assets, massively, and seek shelter in safer jurisdictions. If you look into Swiss franc prices for last 2 days, you get what I mean. There was...
Wow, that was impressive! Well done!
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