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Cable Update (GBPUSD)

  • #736,281
  • Mar 15, 2023 10:10am Mar 15, 2023 10:10am
Added more shorts at this level
Master your mind. Master Trading.
  • #736,282
  • Mar 15, 2023 10:11am Mar 15, 2023 10:11am
OK. An update before I sign off for the day.

After listening to Hunt for nearly two hours, I still don't get it, what's in this "budget for growth"? Where's the growth?

Let's be honest. SVB, Signature, Credit Suisse aside, markets have reasons to panic. Central banks have reasons to be optimistic. This business cycle is different from prior. There will be strong divergence in terms of performance, between equities, risk assets and crypto. Bonds may be a safe bet, may be not. We'll see.

Now, I really have trouble understanding Hunt. One, I don't see growth. Two, I don't see growth potential. Three, where's the magic coming? I don't know.

On my trades. I'm flat on EURJPY. No trades. Closed them all. Still have 8 shorts on GBPJPY going, likewise 10 shorts on USDJPY. On these yen trades, P/L floating now stood at -$700. Let's move to Cable. I maintained my shorts. I did not add any new trades after my partial close last week. I'll not add anymore shorts on Cable. Floating P/L for Cable shorts, now at +$1.4k. That EURGBP hedge that I occasionally mentioned, was now un-hedged, flat.

I'll see you tomorrow for ECB. Stay safe.
Attached Image (click to enlarge)
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  • #736,283
  • Mar 15, 2023 10:12am Mar 15, 2023 10:12am
I predicted the future
the trade was taken before the trend change

Attached Image (click to enlarge)
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yes yes yes
  • #736,284
  • Mar 15, 2023 10:16am Mar 15, 2023 10:16am
A daily close near 121 would be very useful for long’s. Tomorrow more data, could see another assault on 122 or even 11980. Will look to cut losses if I can’t see any further rises
Insane in the Brain..
  • #736,285
  • Mar 15, 2023 10:19am Mar 15, 2023 10:19am
LONG -> SL

SHORT -> SL

GU...FU...Y...
  • #736,286
  • Mar 15, 2023 10:24am Mar 15, 2023 10:24am
Quoting eyefeelsix
{quote} long time no see.. first entry for the day, try long for -10p risk {image}
for me, cut-loss early is a delayed victory in the future..
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https://breakpullback.com
  • #736,287
  • Mar 15, 2023 10:24am Mar 15, 2023 10:24am
Looking for lows still to take long.

Did some long scalping when price dropped.

This is unwritten rule.

NY move will retrace only in Asia/Frankfurt/LO.
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Intraday only.
  • #736,288
  • Mar 15, 2023 10:26am Mar 15, 2023 10:26am
Quoting dantpm
{quote} Interestingly, my broker is showing the GU gap open until 1.2032? EU and DXY both closed.
it can closed it after checking daily s2 from below
Attached Image (click to enlarge)
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yes yes yes
  • #736,289
  • Mar 15, 2023 10:28am Mar 15, 2023 10:28am
Quoting Moty
{quote} it can closed it after checking daily s2 from below {image}
dude fire up your rocket!!
Insane in the Brain..
  • #736,290
  • Mar 15, 2023 10:29am Mar 15, 2023 10:29am
Quoting Moty
I predicted the future the trade was taken before the trend change {image}
On an hourly basis, a STOPPED clock is correct 2 times in 24 hours. It predicts the future time 2/24 or ~8% of the time. I suspect that your prediction statistics are less than that of the stopped clock.
To free Gazans of Hamas, use whatever it takes.
  • #736,291
  • Mar 15, 2023 10:32am Mar 15, 2023 10:32am
After a 73% loss on monday and an 85% loss today. I'm closing my account. 6 years of trying and I only get worse.
  • #736,292
  • Mar 15, 2023 10:36am Mar 15, 2023 10:36am
Attached Image (click to enlarge)
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  • #736,293
  • Mar 15, 2023 10:37am Mar 15, 2023 10:37am
Quoting MrFanciful
After a 73% loss on monday and an 85% loss today. I'm closing my account. 6 years of trying and I only get worse.
oh no! Were you long today?
Insane in the Brain..
  • #736,294
  • Mar 15, 2023 10:37am Mar 15, 2023 10:37am
gap closed
up up and away
Attached Image(s) (click to enlarge)
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yes yes yes
  • #736,295
  • Mar 15, 2023 10:38am Mar 15, 2023 10:38am
Quoting MrFanciful
After a 73% loss on monday and an 85% loss today. I'm closing my account. 6 years of trying and I only get worse.
Pl. go back to drawing board.

73 % and 85 % loss not acceptable.

You open a counter trend trade and seem to be sleeping over it.
Intraday only.
  • #736,296
  • Mar 15, 2023 10:40am Mar 15, 2023 10:40am
DX
closing gap, we could go down with usd
but eurusd can fall deeper
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Trendlines H1,H4, SMC
  • #736,297
  • Mar 15, 2023 10:42am Mar 15, 2023 10:42am
Range areas broken maybe a drop to 120 first before a move up. As it is 121 is not in the equation nor is 122. Looking on 4H 11950 is visible
Attached Image (click to enlarge)
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Insane in the Brain..
  • #736,298
  • Mar 15, 2023 10:42am Mar 15, 2023 10:42am
Quoting BeeTogether
{quote} oh no! Were you long today?
Nope. I came to the day being very bearish, but the range at the beginning made me doubt everything and I kept changing my bias. It then went in the direction I anticipated. The I anticipated it retracing and had to spend 4-5 hours with it starting to go up, then take me out only to immediately reverse back up, so I re-enter only to be taken out. Rince and repeat until I have £80 left in my account.
  • #736,299
  • Mar 15, 2023 10:43am Mar 15, 2023 10:43am
Quoting MrFanciful
After a 73% loss on monday and an 85% loss today. I'm closing my account. 6 years of trying and I only get worse.

go and open FTMO FREE TRIAL YOU WILL LEARN RISK MANAGEMENT FROM THERE

YOU HAVE BEEN TRADING FOR YEARS ENOUGH TO KNOW HOW TO TRADE.


EVEN IF YOU ARE A GAMBLER AND YOU HAVE GOOD RISK MANAGEMENT YOU CAN SURVIVE THIS MARKET
MY OPINION NOT FINANCIAL ADVISE
  • #736,300
  • Mar 15, 2023 10:49am Mar 15, 2023 10:49am
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...
Gap finally closed ... Good stuff
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