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Cable Update (GBPUSD)

  • #738,521
  • Mar 30, 2023 12:29pm Mar 30, 2023 12:29pm
Same setup on GU daily could take months to complete


bear flag
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MY OPINION NOT FINANCIAL ADVISE
  • #738,522
  • Mar 30, 2023 12:36pm Mar 30, 2023 12:36pm
Quoting callmechief
{quote} Not to mention the ADR has been violated intraday. It's the end of the trend. So many people in this thread alone are long at the moment, its a strong indicator that we're at a peak formation for the week. Market maker accumulating orders on the outside of an extreme, buyers are about to be hurt IMO. Im looking for some acceleration to the downside towards the end of US session. Then the Dealing Desk in Asia will get news of a jammed volume and either continue to accumulate orders, or straight drop out of the zone created in US, jamming...
wait who do you see long there? I think im the only one. Rest have been trying to sell past 2 days there is absolutely no point to predict the end of the trend. Just let the price show you the way.

good luck
How to succeed in zero sum game?
  • #738,523
  • Mar 30, 2023 12:39pm Mar 30, 2023 12:39pm
Quoting BeeTogether
{quote} My thinking tomorrow is Friday the drop could be bigger and it’s also last day of Q1 so maybe a rebalance

when the week high is found we can find a seller with negotiating
We currently don’t have a sell negotiation so maybe tomorrow intraday
sellers for now maybe
MY OPINION NOT FINANCIAL ADVISE
  • #738,524
  • Mar 30, 2023 12:41pm Mar 30, 2023 12:41pm
Quoting KareemAliFx
{quote} boo hoo mr poo poo USD crying
Gold is sky rocket agaist USD today. I can see it start moving toward that direction.

But at the same time, the trade-weighted US dollar index remains strong compared to other currencies, this does not necessarily mean that a sudden change is imminent.
However, it is important to note that trends can shift and reverse over time, and it would be a mistake to assume that current trends will continue indefinitely.

It is a cognitive fallacy to believe that the market will always behave the same way it has in the past, especially since trends can accelerate, decelerate, or change direction entirely.

Therefore, it is crucial to remain vigilant and aware of potential changes in the market.
Even though the dollar has been strong for several decades, this does not guarantee that it will remain so in the future.

By keeping an open mind and being prepared for different scenarios, we can adapt and make more informed decisions in response to changing market conditions.

Ultimately, a flexible and adaptable approach is essential for long-term success in the ever-changing world of currency trading.

Trade Well my friend and stay safe.

PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #738,525
  • Mar 30, 2023 12:56pm Mar 30, 2023 12:56pm
Quoting Pat Chiko
{quote} Gold is sky rocket agaist USD today. I can see it start moving toward that direction. But at the same time, the trade-weighted US dollar index remains strong compared to other currencies, this does not necessarily mean that a sudden change is imminent. However, it is important to note that trends can shift and reverse over time, and it would be a mistake to assume that current trends will continue indefinitely. It is a cognitive fallacy to believe that the market will always behave the same way it has in the past, especially since trends...
Big bro, what will be the long term effect on usd given Russia-China trading in their own currency and Saudi Arabia is also planning to sell oil in currency other than USD.
King dolla' to be dethroned ig?
More time in the market, does not mean you trade better!
  • #738,526
  • Mar 30, 2023 1:01pm Mar 30, 2023 1:01pm
Quoting Fardeen1209
{quote} Big bro, what will be the long term effect on usd given Russia-China trading in their own currency and Saudi Arabia is also planning to sell oil in currency other than USD. King dolla' to be dethroned ig?
i think they are playing with fire .
You have an IQ lower than 90 if you interact with this user.
  • #738,527
  • Mar 30, 2023 1:04pm Mar 30, 2023 1:04pm
Quoting Fardeen1209
{quote} Big bro, what will be the long term effect on usd given Russia-China trading in their own currency and Saudi Arabia is also planning to sell oil in currency other than USD. King dolla' to be dethroned ig?
With the US and Europe talking about trying to cut off China, Russia and anyone who trades with them, the planet takes on a new dimension. China and Russia seem to be doing fine with the middle east, India, and a lot of Africa.
  • #738,528
  • Mar 30, 2023 1:06pm Mar 30, 2023 1:06pm
Quoting Fardeen1209
{quote} Big bro, what will be the long term effect on usd given Russia-China trading in their own currency and Saudi Arabia is also planning to sell oil in currency other than USD. King dolla' to be dethroned ig?
Yuan is still pegged to the dollar.

Hence, they are still buying and selling in USD.
Mark ... Everything you have been told is a LIE
  • #738,529
  • Mar 30, 2023 1:13pm Mar 30, 2023 1:13pm
4hr chart:
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...and how it relates to weekly:
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I'm still in a hole. One day I'll figure this out, but today is not that day...
I have no clue where it's going
  • #738,530
  • Mar 30, 2023 1:16pm Mar 30, 2023 1:16pm
Quoting Fardeen1209
{quote} Big bro, what will be the long term effect on usd given Russia-China trading in their own currency and Saudi Arabia is also planning to sell oil in currency other than USD. King dolla' to be dethroned ig?
Hey Fardeen,
Over the past 22 years, the dollar has experienced a gradual erosion in its share of global foreign exchange reserves.
This decline has amounted to approximately 12%, which is not a significant drop.

Despite this trend, the dollar is expected to maintain its status as the global reserve currency in the near future.
There have been rumors of the dollar losing its dominance for more than two decades, and many headlines have been misconstrued to suggest things that they do not.
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Recently, Saudi Arabia was not previously part of the "dedollarification" movement, they are now entering the fray.
However, it is important to avoid interpreting events linearly as they can sometimes accelerate unexpectedly.

The sanctions against Russia, for example, served as a wake-up call to many nations.
Nevertheless, the erosion of the dollar's dominance is expected to take a long time.

The point is not that the dollar will be the reserve currency forever, but that exaggerated fear-mongering is unhelpful and counterproductive.

It is essential to remain level-headed and avoid jumping to conclusions based on isolated events.
The world is complex and ever-changing, and it is important to take a nuanced and informed approach to understanding global economic trends.
While the dollar may face challenges in the future, maybe most of us here already die.....
I come from the future.
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  • #738,531
  • Mar 30, 2023 1:16pm Mar 30, 2023 1:16pm
Quoting tm38691
On daily chart we are not quite there yet... There is a gap, and I feel resistance is attracting the price, and there is still gap up! On lower timeframes, Bearish pattern is obvious, but would not rush into it yet. Still market prints higher lows and higher highs {image} Patience...
And in the zone. Would say as predicted, but qas just gut feeling. No Nostradamus magic there

Now I wait.

Feeling is down but i might be very wrong... Lets wait what market wants to tell us.
  • #738,532
  • Mar 30, 2023 1:17pm Mar 30, 2023 1:17pm
Quoting dantpm
{quote} With the US and Europe talking about trying to cut off China, Russia and anyone who trades with them, the planet takes on a new dimension. China and Russia seem to be doing fine with the middle east, India, and a lot of Africa.
What on earth are you talking about?
China needs Europe. India needs the free world, Russia needs the whole world, Africa is just trying to survive and needs the whole world.
Trade to trade another day
  • #738,533
  • Mar 30, 2023 1:18pm Mar 30, 2023 1:18pm
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MY GRID. Markets are NOT random.
  • #738,534
  • Mar 30, 2023 1:19pm Mar 30, 2023 1:19pm
Quoting dempire1
{quote} wait who do you see long there? I think im the only one. Rest have been trying to sell past 2 days there is absolutely no point to predict the end of the trend. Just let the price show you the way. good luck
Don't forget that price is determined by the market maker, who assumes the risk of the other end of your trade. They use their equity to fill the other end of every order, and keep tabs on exactly where the buying and selling volume is located, and at which price points.

Please reference the attached screenshot of the “toolbox” section of MetaTrader’s market maker (manager) side of the terminal.
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Discouragement is the language of the devil. Results over hype.
  • #738,535
  • Mar 30, 2023 1:20pm Mar 30, 2023 1:20pm
Quoting Wavegarrick
{quote} What on earth are you talking about? China needs Europe. India needs the free world, Russia needs the whole world, Africa is just trying to survive and needs the whole world.
Russia and China both want to trade with the world! Europe and the US are trying to set conditions for them to be able to trade that they don't appear interested in complying with.
  • #738,536
  • Mar 30, 2023 1:20pm Mar 30, 2023 1:20pm
Quoting dantpm
{quote} With the US and Europe talking about trying to cut off China, Russia and anyone who trades with them, the planet takes on a new dimension. China and Russia seem to be doing fine with the middle east, India, and a lot of Africa.
USA and EU think they control the world where it takes only Russia, China and India. They are out of games.
More time in the market, does not mean you trade better!
  • #738,537
  • Mar 30, 2023 1:26pm Mar 30, 2023 1:26pm
Quoting Pat Chiko
{quote} Hey Fardeen, Over the past 22 years, the dollar has experienced a gradual erosion in its share of global foreign exchange reserves. This decline has amounted to approximately 12%, which is not a significant drop. Despite this trend, the dollar is expected to maintain its status as the global reserve currency in the near future. There have been rumors of the dollar losing its dominance for more than two decades, and many headlines have been misconstrued to suggest things that they do not. {image} Recently, Saudi Arabia was not previously...
Well said bro.
This is greater than any individual and institution. The best way is simply go with the flow as events take place.
More time in the market, does not mean you trade better!
  • #738,538
  • Mar 30, 2023 1:27pm Mar 30, 2023 1:27pm
Quoting dantpm
{quote} Russia and China both want to trade with the world!
Right now Russia is cutting off grain exports to Africa from the azov sea. China needs to negotiate with Russia if they want europe on their side. Cheers
Trade to trade another day
  • #738,539
  • Mar 30, 2023 1:29pm Mar 30, 2023 1:29pm
Quoting callmechief
{quote} Don't forget that price is determined by the market maker, who assumes the risk of the other end of your trade. They use their equity to fill the other end of every order, and keep tabs on exactly where the buying and selling volume is located, and at which price points. Please reference the attached screenshot of the “toolbox” section of MetaTrader’s market maker (manager) side of the terminal. {image}
Where did you access this in the terminal?
MY GRID. Markets are NOT random.
  • #738,540
  • Mar 30, 2023 1:32pm Mar 30, 2023 1:32pm
Quoting Wavegarrick
{quote} Right now Russia is cutting off grain exports to Africa from the azov sea. China needs to negotiate with Russia if they want europe on their side. Cheers
This is a different opinion.
https://www.consilium.europa.eu/en/i...rts-explained/
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