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Cable Update (GBPUSD)

  • #737,521
  • Mar 23, 2023 8:28am Mar 23, 2023 8:28am
Bulls are in!
Master your mind. Master Trading.
  • #737,522
  • Mar 23, 2023 8:28am Mar 23, 2023 8:28am
OK. We had SNB earlier during Euro morning, and BOE rates decision, no presser for both.

SNB rate was in line with market expectation, +50 bps raising to 1.5%. The statement published was near hawkish.

BOE hiked 6-3 by +25 bps to 4.25%. There was mentioned of SVB and Credit Suisse in BOE statement, but overall risk was still on inflation upticking, not so much on banking crisis. Market was expecting Mann to vote against, but nope. So, largely in line with market implied path.

Since yesterday, market was pricing in a cut by Fed as early as July '23. Given that Powell has now said there won't be a cut in '23, I expect further repricing in coming weeks, pushing cuts into early 2024. That would mean US dollar would get a little boost needed after the dovish presser yesterday. Price wise, I'm expecting this range bound action to continue, until after May's FOMC.

I'm not adding new trades under these market conditions. I'll look forward to tomorrow, when we have S&P Global data. Since it'll be Friday, I'll try to refraine from opening new trades, other than to close trades that are there, and in profits. On my yen long trades, floating P/L was now at -$560. On my Cable shorts, I was breaking even, so floating P/L at +$0.

See you tomorrow.
  • #737,523
  • Mar 23, 2023 8:38am Mar 23, 2023 8:38am
Closed +5 Pips. In my opinion very rare occurance, almost V-Shape, especially for GBP/USD very uncommon. Who knows who moved it today like that.
  • #737,524
  • Mar 23, 2023 8:42am Mar 23, 2023 8:42am
It needs time.. daily chart after all
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  • #737,525
  • Mar 23, 2023 8:45am Mar 23, 2023 8:45am
Bull stand 1.2270
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #737,526
  • Mar 23, 2023 8:47am Mar 23, 2023 8:47am
DX
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Trendlines H1,H4, SMC
  • #737,527
  • Mar 23, 2023 8:50am Mar 23, 2023 8:50am
Quoting Yngwie
Bull stand 1.2270
seems to be a big support area. Drop below will be useful 😁 although a move to 12350 I will add shorts
Insane in the Brain..
  • #737,528
  • Mar 23, 2023 8:50am Mar 23, 2023 8:50am
gbpusd update (trendlines view)
maybe straight to R
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Trendlines H1,H4, SMC
  • #737,529
  • Mar 23, 2023 8:51am Mar 23, 2023 8:51am
Quoting Bobbynouchet
{quote} aint nobody got time to be mature lmao, i aint tryna be all serious and shit , im 31 years old not 60, dont blame me for calling out your weird ass trading ways, if you choose to be mad because I proved you wrong instead of actually sending me a message so we can help each other become better traders, thats your loss, Im not catering to no snowflakes lmaoooooooo
Ever notice how the most sensitive of people are always the first to point out the sensitivity of others.
Don't compare your trades to others. Most often the masses are the asses
  • #737,530
  • Mar 23, 2023 8:52am Mar 23, 2023 8:52am
..................Long Short
MyFX Book.. 27... 73
IG Markets.. 43... 57
FF............... 43 ...57
  • #737,531
  • Mar 23, 2023 8:58am Mar 23, 2023 8:58am
Quoting BeeTogether
{quote} seems to be a big support area. Drop below will be useful 😁 although a move to 12350 I will add shorts
the real support is 1.22 after we take it out.. arrivederci
  • #737,532
  • Mar 23, 2023 8:58am Mar 23, 2023 8:58am
Quoting BeeTogether
{quote} seems to be a big support area. Drop below will be useful 😁 although a move to 12350 I will add shorts
Yes. Looking 1.2345 can try to short nearby this price
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #737,533
  • Mar 23, 2023 8:58am Mar 23, 2023 8:58am
not bad, the day did not reach the point of purchase a little, although everything may give another chance
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  • #737,534
  • Mar 23, 2023 8:59am Mar 23, 2023 8:59am
Quoting OBsayMkMoney
{quote} Ever notice how the most sensitive of people are always the first to point out the sensitivity of others.
The internet probably isn't the best place for the extremely sensitive, opinionated, aggressive, rude, there have to be more of these adjectives.
  • #737,535
  • Mar 23, 2023 8:59am Mar 23, 2023 8:59am
Quoting ScalaFX
{quote} One pip stopped me out🍀🙂💪 reloaded one more time 2265 stop 20 pip
Taking half for cover loss from last position plus some for me, rest protected and set target to 2350, from there I will be selling when we get there
People don't plan to lose. They lose because they don't plan.
  • #737,536
  • Mar 23, 2023 9:03am Mar 23, 2023 9:03am
New home sales worst than expected, this news thing is BS price is going where it is going , seems like an excuse to mess with peoples heads, i mean lets face it there are so many factors involved in economics to believe that we as mere mortals without all the facts can actually decipher it and make a trading decision is beyond dillusional.
Follow The Markets Structure - Patience and Discipline
  • #737,537
  • Mar 23, 2023 9:13am Mar 23, 2023 9:13am
Quoting BigNumbers
Just sold Gu now
Yesterday I didn’t make any pips -28 pips and today it’s -10 pips. But I’m still good for the week.
Well, like I said earlier USD is down and it will continue to become weaker even in the coming week. I’m seeing its behavior with all the pairs. The monthly time will tell you but US is trying to manage the situation. Dollar will crash!
My telegram: https://t.me/avidforex
  • #737,538
  • Mar 23, 2023 9:18am Mar 23, 2023 9:18am
Quoting BigNumbers
{quote} Yesterday I didn’t make any pips -28 pips and today it’s -10 pips. But I’m still good for the week. Well, like I said earlier USD is down and it will continue to become weaker even in the coming week. I’m seeing its behavior with all the pairs. The monthly time will tell you but US are just trying to manage the situation. Dollar will crash!
the big banks keep saying that the Dollar is going to crash, but they have other agendas behind the scenes

it is more likely that the Dollar will remain stronger for longer
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #737,539
  • Mar 23, 2023 9:22am Mar 23, 2023 9:22am
Quoting ForexGoose
{quote} the big banks keep saying that the Dollar is going to crash, but they have other agendas behind the scenes it is more likely that the Dollar will remain stronger for longer
Big banks are saying that every currency is crashing. If they all crash that preserves the FX status quo!
  • #737,540
  • Mar 23, 2023 9:25am Mar 23, 2023 9:25am
Quoting ForexGoose
{quote} the big banks keep saying that the Dollar is going to crash, but they have other agendas behind the scenes it is more likely that the Dollar will remain stronger for longer
It showing right in the chart… everyone should take note and make good use of this opportunity. It comes but once.

Take advantage with pairs like Gold and BTCUSD. A big move is coming. Be vigilant, Forex is about taking opportunities!!!
My telegram: https://t.me/avidforex
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