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Cable Update (GBP/USD) without Idiots 24 replies

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Attachments: Cable Update (GBPUSD)
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Cable Update (GBPUSD)

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It's nice that it's fell. I still would like to get out of the sh**hole I dug for myself this week...
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I have no clue where it's going
Quoting ForexGoose
Sold from 1.229, stop above 1.232, target open
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sheep selling before the FED?
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
Right not trading now got lucky I think be back around FOMC. Anything less than .25 increase will be boost for GU. Todays inflation announcement from UK makes a rise likelier tomorrow. Will have to be careful
Insane in the Brain..
Quoting BeeTogether
Right not trading now got lucky I think be back around FOMC. Anything less than .25 increase will be boost for GU. Todays inflation announcement from UK makes a rise likelier tomorrow. Will have to be careful
the BOE might not hike, but the market priced in 25bps after the inflation data

the FED might be hawkish, causing a big dump in Cable
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
look to Sell the highs.... after the first 15 mins of the powel press
Quoting BeeTogether
Right not trading now got lucky I think be back around FOMC. Anything less than .25 increase will be boost for GU. Todays inflation announcement from UK makes a rise likelier tomorrow. Will have to be careful
nice 70 pips comeback from 80 pips floating loss
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Quoting AlfieSolomon
I will buy @1.22463 for 10 pips
Closed-12 pips not a good day for me
For fed meeting we could see 25 or pause, anything more would be very stupid as the whole collapse was due to the bonds , it was the hikes that drove this banking collapse . Gold and eur look good but lets see what the feds do!
Master your mind. Master Trading.
Quoting KareemAliFx
For fed meeting we could see 25 or pause, anything more would be very stupid as the whole collapse was due to the bonds , it was the hikes that drove this banking collapse . Gold and eur look good but lets see what the feds do!
pause could send the GU flying. 6pm will be interesting
Insane in the Brain..
Quoting BeeTogether
{quote} pause could send the GU flying. 6pm will be interesting
a pause by the FED today could indicate panic and a flight to safety of the US dollar and Gold

I think that the market is setting up for a dump
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
Entered a small long position here. Not too confident in the setup just yet. I feel as though price may start to range as we wait for major news event. If I get stopped out, I'll likely wait til news is done to look for re-entry.
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Quoting ForexGoose
{quote} a pause by the FED today could indicate panic and a flight to safety of the US dollar and Gold I think that the market is setting up for a dump
fingers are on the ready lol! Not too many hours left.
Insane in the Brain..
Quoting KareemAliFx
For fed meeting we could see 25 or pause, anything more would be very stupid as the whole collapse was due to the bonds , it was the hikes that drove this banking collapse . Gold and eur look good but let’s see what the feds do!
Stocks have rallied, the bank deposit protection is in place and inflation is more than 2% so I am not so sure that.25 or lower is necessary in the FED's eyes!
Quoting KareemAliFx
For fed meeting we could see 25 or pause, anything more would be very stupid as the whole collapse was due to the bonds , it was the hikes that drove this banking collapse . Gold and eur look good but lets see what the feds do!
Actually it wasn't the fault of the bond market that caused this banking "crisis" - it was total mismanagement and LACK of oversight.

But I do agree that 0.25% is the most appropriate response. A 0% rate increase would only spook the market and 0.50% would be really stupid. So we all already "know" what they are going to do, the question is this - does it matter?
Quoting ForexGoose
{quote} a pause by the FED today could indicate panic and a flight to safety of the US dollar and Gold I think that the market is setting up for a dump
A "pause" would (in my mind) cause panic in the markets and a Cable dump, but time will tell...
Quoting ForexGoose
{quote} a pause by the FED today could indicate panic and a flight to safety of the US dollar and Gold I think that the market is setting up for a dump
dump? on what instruments?!
We do have a couple of central bank events this week. Fed in a few hours from now, SNB and BOE tomorrow.

Now, rate hike expectation sees Fed going 25 bps. No doubt. They'll hike, since their job on flighting inflation is not done.

On to SNB. We'll see if they do the same tomorrow. Market expects 50 bps, so let's see if market gets it. On to BOE, market expects 25 bps. Here's what I think. BOE may be reaching the end of its hiking cycle. They could go on until 4.5%. It's getting difficult going higher. There's still uncertainties over UK inflation, and this Brexit thing. UK Parliament is currently, as I write, now, voting on Sunak's Brexit deal. We'll see if this policial vote gets overshadowed by FOMC rates later on. I think so.

I generally don't trade fiscal or political moves. I stick to central bank events. Anything that goes beyond the 6-3 split on BOE tomorrow is going to generate some decent volatility. I'll probably trade that against yen.

On a question earlier from hans. I don't aim for Cable parity. That's too far away a trade. I'm not concern if it moves against me by a wide range, I can always correct that, by adding some hedge trades with the EURGBP pair. I don't have those on right now, since I closed them last week. I may look to add on some EURGBP, if necessary. You know that I've a bigger account, relative to my lot sizes. My advice is, not copy what I do, if you don't know the exact mechanics behind my trades. Keep it simple, really. You don't need trade this, hedge that. Just trade low-risk, you'll mostly be fine. It's sis, btw. Cheers.
Fly before FOMC
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
fed might raise the interest rate by 0.25% or more.... hahaha 😁 not raise still the cable going down... but with the raise... hallelujah... hallelujah... hahaha 😁
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