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Cable Update (GBPUSD)

  • #735,821
  • Mar 13, 2023 10:20am Mar 13, 2023 10:20am
Quoting Traderview
Once 1.2090 breaks then more downside. In that case 1.2071 - 1.2085 - 1.2091 will act as resistance.
Sold @ 1.2163

SL 50 pips

Tp 1.21
  • #735,822
  • Mar 13, 2023 10:22am Mar 13, 2023 10:22am
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what gap?
  • #735,823
  • Mar 13, 2023 10:23am Mar 13, 2023 10:23am
Quoting MrFanciful
{quote} I appreciate it, I honestly do, but no one can help with how to identify the "high as possible" simply because no one knows. The phenomena of seeing patterns where none exist is called Apophenia. I think it's incredibly prevalent amongst traders. In fact the article below is about the discovery that people susceptible to apophenia, are also people susceptible to "pseudo-profound bullshit". Which probably explains why so many fall for the bullshit trading channels on YouTube. People...

::Throws papers in the air and leaves room::
Don't compare your trades to others. Most often the masses are the asses
  • #735,824
  • Mar 13, 2023 10:24am Mar 13, 2023 10:24am
Quoting Wavegarrick
{quote} Behind every dark cloud is a silver lining. When price broke through 1.1900 I truly thought that we were going into a short cycle. 1.19300 had me confuzzed and I started making stupid mistakes. Right now I truly believe that the down move was fake. It has been a terrible week for me trading wise but the silver lining is that my overall long term positions are strengthening. I take solace in that. Have a great weekend. Cheers. {image}
A solid break above 1.22500 this week sets the tone for 1.25000 (Yellow highlighted area) which is a realistic target for the first quarter of this year.
Green pips,
Cheers.
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Trade to trade another day
  • #735,825
  • Mar 13, 2023 10:28am Mar 13, 2023 10:28am
Quoting Wavegarrick
{quote} A solid break above 1.22500 this week sets the tone for 1.25000 (Yellow highlighted area) which is a realistic target for the first quarter of this year. Green pips, Cheers. {image}
you were right about the purchases
  • #735,826
  • Mar 13, 2023 10:28am Mar 13, 2023 10:28am
Quoting Moty
{quote} I'm out too i was supposed to take profit 3 times before I occasionally try to use this channel, but I always lose with it in the end, mainly due to the fact that I am not satisfied with trading with the trend, but also try to trade against it, which is very dangerous, at the moment there is a bearish trend in the short term, so I only take short trades when a red arrow appears, and do not try to trade a counter {image}
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yes yes yes
  • #735,827
  • Mar 13, 2023 10:31am Mar 13, 2023 10:31am
why some going against the market
sit and watch, that's all
Trendlines H1,H4, SMC
  • #735,828
  • Mar 13, 2023 10:40am Mar 13, 2023 10:40am
usindex
falling wedge
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Trendlines H1,H4, SMC
  • #735,829
  • Mar 13, 2023 10:42am Mar 13, 2023 10:42am
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yes yes yes
  • #735,830
  • Mar 13, 2023 10:43am Mar 13, 2023 10:43am
eurusd on support

opening long 0,10 - 1.07144 SL 10
waiting short 0,15 - 1.07044 SL 20
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Trendlines H1,H4, SMC
  • #735,831
  • Mar 13, 2023 10:43am Mar 13, 2023 10:43am
Quoting dempire1
{quote} I have some shorts in from Friday. Personally will be monitoring these areas. {image}
Lovely. Traded into compression. Would love to see new low. Monitoring PA for shorts. beep-beep
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How to succeed in zero sum game?
  • #735,832
  • Mar 13, 2023 10:51am Mar 13, 2023 10:51am
Sell limit
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  • #735,833
  • Mar 13, 2023 10:53am Mar 13, 2023 10:53am
Quoting OBsayMkMoney
USD/JPY Short... target the wick bottom for now. (Exploratory trade, probably a market maker testing the market to see how low buyers are), 134.8 - 134.5 on the extreme side, then some sideways action before going north. Looking like a possibly dovishfed report, but let's see what the next couple of weeks bring. For now IMO DXY has a small pullback then finishes the uptrend that will then give us 7-10 days of bearish then sideways movement. Wed March 15th I switch back to bullish if my previous call downward pans out. lets see {image}

So far so good.
Don't compare your trades to others. Most often the masses are the asses
  • #735,834
  • Mar 13, 2023 10:59am Mar 13, 2023 10:59am
Support around 1.1920. Target around 1.2500

I may be wrong
POSTMASTER
  • #735,835
  • Mar 13, 2023 11:04am Mar 13, 2023 11:04am
Shorted 2150 target 100pip
  • #735,836
  • Mar 13, 2023 11:08am Mar 13, 2023 11:08am
The VIX is at 26.35. Appears to be bullish. Could drag the dollar with it if it closes above 27.

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Don't compare your trades to others. Most often the masses are the asses
  • #735,837
  • Mar 13, 2023 11:09am Mar 13, 2023 11:09am
Waveskie sat at the bottom of the Mariana Trench...😒
  • #735,838
  • Mar 13, 2023 11:12am Mar 13, 2023 11:12am
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yes yes yes
  • #735,839
  • Mar 13, 2023 11:12am Mar 13, 2023 11:12am
OK guys. Final post before I call it a day.

Since NY has shifted to GMT-4 this week, I guess it's a good sign, ending earlier. Go for a run while sun is still up.

Great. US03M and US06M auctions concluded. 3-month saw no change, still at 4.75%. 6-mo yield dipped by 27 bps. We'll see if this gets back up post-FOMC. Hawkish tones from Powell should do the trick. Give it a few days, DXY volatility should settle down. Yes, Yellen has publicly confirmed, no bailout for falling banks. Well, I guess it's smaller ones. If the large banks fail, they'll bail them out, regardless. Now, US banks are not particularly known for top of the tier when it comes to "safest". It's sort of expected some will fail, here's why:

US banks may be largest by assets, but not the safest in the world. Those titles go to those in Euro area (Dutch, German), Swiss, Swedish. No largest banks in US and UK manage to top the list of 50-safest. The 3 largest Singaporean banks are in the world's safest top-30. Even the 4 largest banks in Canada and Australia fare better than US and British banks. GF magazine has the ranking.

Back to Cable. I'm still on my shorts. All except 2 are in profit. Floating P/L at +$850.

Since price settled down a bit, I added one short on GBPJPY at 161.75, and another on EURJPY at 142.61. Floating P/L on my yen trades now stood at -$1k.

I saw one question earlier on FX broker. I assume you're asking about the impact of bank failure on retail brokerage service. If that's the question, then my answer is, it's not likely to have any impact. Funds with regulated brokers are kept segregated in mostly top-tier banks. Barclays, BoA, JPM, those banks are not going to collapse, they'll get bailout. If you're trading with some offshore brokers, then may be it's time to do some test withdrawals to see if they withdraw. Otherwise, I wouldn't worry about that.

I'll see you tomorrow for US CPI.
  • #735,840
  • Mar 13, 2023 11:13am Mar 13, 2023 11:13am
Quoting AlfieSolomon
Sell limit {image}
Ladies and gentlemen both limit activated and take profit hit
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