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Cable Update (GBPUSD)

  • #737,461
  • Mar 23, 2023 5:24am Mar 23, 2023 5:24am
Price created a doji at a significant zone. If this next candle is bearish engulfing then I expect a decent move down. Daily TF still looks like it would like to tap 1.24. No trades for right now as PA isn't 100% clear to me. Will likely wait for NYO and the 4H candle closure.
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  • #737,462
  • Mar 23, 2023 5:27am Mar 23, 2023 5:27am
After 4 months of up and down within the same range, do we think we'll have a break out of it next month?
  • #737,463
  • Mar 23, 2023 5:34am Mar 23, 2023 5:34am
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  • #737,464
  • Mar 23, 2023 5:36am Mar 23, 2023 5:36am
Quoting MrFanciful
After 4 months of up and down within the same range, do we think we'll have a break out of it next month?
personally I hope so but can’t see it. However the break out does add more volatility which makes trading a lot harder.

The UK is more stable with a PM that isn’t a total douche however that can change quite easily as his team are very volatile.

the US is going steady to an extent however the banking crisis that is rearing its ugly head may add to the volatility
Insane in the Brain..
  • #737,465
  • Mar 23, 2023 5:39am Mar 23, 2023 5:39am
Quoting Yngwie
Dear Bulls. That's it 1.2340. Enough is enough
Time to close. Big news coming up
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Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #737,466
  • Mar 23, 2023 5:41am Mar 23, 2023 5:41am
Quoting MrFanciful
After 4 months of up and down within the same range, do we think we'll have a break out of it next month?
Yes we will eventually get out of this range, as we are heading into the beginning of the second Quarter in April.

It will be 1.26 versus 1.16 though 1.26 looks more likely as far as 1.2000 doesn't break in April. I don't like looking too far ahead, let's see where March will end then we can talk more about April.
Data + Stat + Risk/Emotions Management
  • #737,467
  • Mar 23, 2023 5:46am Mar 23, 2023 5:46am
Out now too. Will jump back in after miday
Insane in the Brain..
  • #737,468
  • Mar 23, 2023 5:53am Mar 23, 2023 5:53am
Quoting ScalaFX
Small positions opened, will add more shorts when comes up, Im ready and steady💪🍀
Protected 🍀
People don't plan to lose. They lose because they don't plan.
  • #737,469
  • Mar 23, 2023 6:04am Mar 23, 2023 6:04am
Quoting kostas1
For the conspiracy fans out there: Today is March 23 of the year 2023 and the price is hovering around 1.23 Hmmmmm

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Air force
  • #737,470
  • Edited 6:41am Mar 23, 2023 6:09am | Edited 6:41am
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high 541 x lot$ let it ride... i love turtle$$$tre$$ avoid rat race few dips in between always come up for air market makers...long haul... roth$child Price Action D
  • #737,471
  • Mar 23, 2023 6:18am Mar 23, 2023 6:18am
First support broken but I won’t enter here because the distance to the next support is small hence the Tp. So I’ll wait for the next support to get broken then I’ll enter short.
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My telegram: https://t.me/avidforex
  • #737,472
  • Mar 23, 2023 6:33am Mar 23, 2023 6:33am
Quoting Robinhood1
{quote} There is not much to go and it should retrace down to 1.20xx. As i do not wish to go against the main swing trend, i personally will not short cable for a while. This is my help and i may be wrong. GL
Due to fact that the market trades against us, the only remedy that protects us, is to dedicate all studying efforts to find out which is the trend, which is also counted as a minimum of 2 weeks. My bias trading cable is long once it retraces.
POSTMASTER
  • #737,473
  • Mar 23, 2023 6:36am Mar 23, 2023 6:36am
Quoting ForexGoose
i think that there could be a bull trap, the stock market doesn't like today {image} {image}
it didn't break out after the FOMC yesterday and it is still near 1.229/1.233, which appears to be a strong resistance area

I shorted before the BOE announcement from 1.229, stop above 1.233, target is open
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #737,474
  • Mar 23, 2023 6:39am Mar 23, 2023 6:39am
Long 1.2283. TP 1.2400. The 4hr chart shows a rising wedge which should see price fall, but the daily is up.
  • #737,475
  • Mar 23, 2023 6:43am Mar 23, 2023 6:43am
Quoting ForexGoose
{quote} it didn't break out after the FOMC yesterday and it is still near 1.229/1.233, which appears to be a strong resistance area I shorted before the BOE announcement from 1.229, stop above 1.233, target is open {image}
stop loss will be moved to 1.229, 1 min before the BOE

if it stays above 1.229, then I will move the stop to 1.23 and risk only 10 pips as a cowboy
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #737,476
  • Mar 23, 2023 6:50am Mar 23, 2023 6:50am
Hi all, New to posting, trade GBP/USD and USD/JPY mostly - looking at this news closely - 25bps could push GBP higher - a pause could cause it to break lower.

Fingers on the pulse
  • #737,477
  • Mar 23, 2023 6:50am Mar 23, 2023 6:50am
Seems like the price wants to get little lower before pushing up. Will be waiting for proper PA. No rush.
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How to succeed in zero sum game?
  • #737,478
  • Mar 23, 2023 6:50am Mar 23, 2023 6:50am
Quoting ForexGoose
{quote} stop loss will be moved to 1.229, 1 min before the BOE if it stays above 1.229, then I will move the stop to 1.23 and risk only 10 pips as a cowboy
good idea! Although I do think 123 will be taken easily
Insane in the Brain..
  • #737,479
  • Mar 23, 2023 6:51am Mar 23, 2023 6:51am
Quoting Mitiblotch
Long 1.2283. TP 1.2400. The 4hr chart shows a rising wedge which should see price fall, but the daily is up.
maybe a decent drop before up? Impact news in 10 mins
Insane in the Brain..
  • #737,480
  • Mar 23, 2023 6:54am Mar 23, 2023 6:54am
Morning all, Boe coming up as well as important unemployment data from the USA side. Ideally, I would like a hawkish BOE which is very likely Since we had a hot sticky CPI data the other day. And for unemployment side I would like either expected data or higher unemployment for a favourable Gbpusd long trade .
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