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Cable Update (GBPUSD)

  • #736,141
  • Mar 15, 2023 4:22am Mar 15, 2023 4:22am
Quoting ScalaFX
{quote} You are right, those people are not magicans or guru, always trade your plan
But for the ignorant newcomers, following the words of High Impact members IS their trade plan!
To free Gazans of Hamas, use whatever it takes.
  • #736,142
  • Mar 15, 2023 4:22am Mar 15, 2023 4:22am
Quoting Georginson
Caution guys, the range was surprisingly minimal yesterday (70 pips) despite CPI News that used to move price by 150 - 250 pips. Today there are plethora of important News on USD which I feel will spark Volatility that should have happened yesterday... There is a gap at 1.2031 yet to be closed and considering the News is forecasted to come out very Negative for USD, it has a strong chance of coming out positive Instead which may send the price crashing to 1.2000 area today. Just in case of some surprises, below are some possible simulated scenarios...
123 is my final target for the longs I have. However although only 150 pips from there as we have seen only last week when 11790 was in view it shot straight up.
Insane in the Brain..
  • #736,143
  • Mar 15, 2023 4:26am Mar 15, 2023 4:26am
Quoting Moty
eu is going down {image}
and that is why, on smaller TFs at the moment, EURGBP is the best pair to short of the EG/GU/EU triad.
To free Gazans of Hamas, use whatever it takes.
  • #736,144
  • Mar 15, 2023 4:27am Mar 15, 2023 4:27am
Quoting DrDave
{quote} But for the ignorant newcomers, following the words of High Impact members IS their trade plan!
Hi Dave.
Yes and this is bad idea, first of all every trader must have own plan and MM. Is so simple
People don't plan to lose. They lose because they don't plan.
  • #736,145
  • Mar 15, 2023 4:28am Mar 15, 2023 4:28am
Quoting BeeTogether
{quote} bro are you shorting ?
Been getting signals in both directions.
  • #736,146
  • Mar 15, 2023 4:31am Mar 15, 2023 4:31am
DX+GBPUSD

DX rising (it can be by EUR)...gbp on S = the winner is....
Attached Image (click to enlarge)
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Trendlines H1,H4, SMC
  • #736,147
  • Mar 15, 2023 4:31am Mar 15, 2023 4:31am
Quoting DrDave
{quote} But for the ignorant newcomers, following the words of High Impact members IS their trade plan!
Yes exactly I used to do the same 😂😂😂lost soo much money but learnt trading and is consistent now
  • #736,148
  • Mar 15, 2023 4:31am Mar 15, 2023 4:31am
Quoting ScalaFX
{quote} thats why Im shorting GU and EU
Closed all shorts manual at EU, GU shorts open and protected from yesterday
People don't plan to lose. They lose because they don't plan.
  • #736,149
  • Mar 15, 2023 4:32am Mar 15, 2023 4:32am
hi guys,
I just respect this range traders, they are able to bear with the emotional rollercoster of their trades going into profit and losses multiple times.Personally i wait for breakout and move with the trend. Right now am out waiting for news time to determine which direction to take.
  • #736,150
  • Mar 15, 2023 4:36am Mar 15, 2023 4:36am
After waiting for one night, finally turn a loss into a win. $134 into my account
  • #736,151
  • Mar 15, 2023 4:36am Mar 15, 2023 4:36am
It was busy morning today. We looked at BOJ meeting minutes, and dived into keypoints to look for in GB budgets later.

I went in to add three shorts: GBPJPY at 163.73, USDJPY at 134.64 and EURJPY at 144.51.

Now, on BOJ minutes, we already knew what they did back in Jan '23. Kept bank rates at -0.1%, expanded YCC to +/-50 bps. One key thing here was, I quote: bank will purchase necessary amount of JGB to keep JP10Y at 0%. OK. Necessary basically means unlimited. So, there's more stimulus coming, and we can expect yen to remain at current levels into the summer months. They did mention about increasing purchase, and conducting fixed-rate purchase operations. That summed up yen sentiment.

On to UK spring budget. We'll see what's announced later. I doubt pilling up pressure on fiscal policy can do little to lowering borrowing costs. For that, we'll keep an eye on the GB10Y and GB30Y gilts. Both stay relatively flat over the last week, at 3.5% and 3.9%. On Sterling wise, I'm still bearish. Not adding anymore shorts on Cable, but GBPJPY I may.

Other than that, we'll look for retail sales later when NY opens. Take care, and stay safe.
  • #736,152
  • Mar 15, 2023 4:38am Mar 15, 2023 4:38am
Trapdoor opened
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Insane in the Brain..
  • #736,153
  • Mar 15, 2023 4:40am Mar 15, 2023 4:40am
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  • #736,154
  • Mar 15, 2023 4:42am Mar 15, 2023 4:42am
Quoting ScalaFX
{quote} Im always searching for minimum 2:1 where 1 is SL, Im usually dont trade with stops. Everyone who is here some time knows my style including you
ok great!

the market is alive atm, let's back to work. Cheers.
https://breakpullback.com
  • #736,155
  • Mar 15, 2023 4:42am Mar 15, 2023 4:42am
Quoting dempire1
{quote} Would love to see this happen. But I'm not predicting anything. I just read what PA tells me and act accordingly. {image}
Seems like this is happening after all.
How to succeed in zero sum game?
  • #736,156
  • Mar 15, 2023 4:43am Mar 15, 2023 4:43am
Quoting navk
I am short on GU already. Short at 2160. stop 2185 TP at 2100
Finally broke down, and took profit at s1.

Now after a small retrace up... will take short.
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Intraday only.
  • #736,157
  • Mar 15, 2023 4:43am Mar 15, 2023 4:43am
Blown another account this week. Seems like a weekly event now. Never blew an account in my 6 years of trying until September, now it's a regular occurrence.

At every single point on the chart, it simulaneously looks like its continuing and reversing at the same time. I enter buys and sells at the same time because it looks like it's going in both directions. As I'm typing this, it's going in the direction I thought it was going in but I've lost 50% of my account this morning because I'm chopping and changing direction.

I'm going to be told that I'm over leveraging. I'm risking a maximum of 2%. It's not my leverage that the problem. I simply cannot see that is going on.

I've been trying for 6 years and I've lost £10,000 in the last 20 months. I'm in tears most nights and my girlfriend is worried I'm going to have a stroke. But I look at my future and it's fucking bleak. I'm sick to death of working in IT wear all you every do is get complaints hurled at you because XYZ isn't working due to the ineptitude of management, and the get paid a pittance compared to those same inept management. I refuse to do that much longer.

I can't see any other way than this but it's just not working.

Here is my equity curve. I start making progress and CRASH.
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  • #736,158
  • Mar 15, 2023 4:46am Mar 15, 2023 4:46am
Quoting MrFanciful
Blown another account this week. Seems like a weekly event now. Never blew an account in my 6 years of trying until September, now it's a regular occurrence. At every single point on the chart, it simulaneously looks like its continuing and reversing at the same time. I enter buys and sells at the same time because it looks like it's going in both directions. As I'm typing this, it's going in the direction I thought it was going in but I've lost 50% of my account this morning because I'm chopping and changing direction. I'm going to be told that...
What time frame do you trade on? What time frame do you analyse on?
  • #736,159
  • Mar 15, 2023 4:46am Mar 15, 2023 4:46am
Quoting eyefeelsix
{quote} ok great! the market is alive atm, let's back to work. Cheers.
overslept then miss the train again 😪
  • #736,160
  • Mar 15, 2023 4:48am Mar 15, 2023 4:48am
Quoting ScalaFX
{quote} Closed all shorts manual at EU, GU shorts open and protected from yesterday
GU closed to, nice profit 🍀🏛 waiting for pulback to reload some 💪
People don't plan to lose. They lose because they don't plan.
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