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Cable Update (GBPUSD)

  • #738,561
  • Mar 30, 2023 3:18pm Mar 30, 2023 3:18pm
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...
The war of Ukraine is changing everything. The Europe is being destroyed. So % of EUR will drop. So USD % will rise as much as EUR will drop. China will take some % now.
This is sad world we are living in.
  • #738,562
  • Mar 30, 2023 3:18pm Mar 30, 2023 3:18pm
Quoting JereMi256
{quote} Failed to find any short setup. Tomorrow is likely to continue to 1.24...
I plan to buy tomorrow till the day breaks.
Any pullback will be a chance to join the bulls to 1.2450

1.246 is bear territory!
Face 'ur fears & tame 'ur greed
  • #738,563
  • Mar 30, 2023 3:22pm Mar 30, 2023 3:22pm
Quoting BigNumbers
IF... {image}
QUESTION - Which is more important when trading this pair? GBP or USD???

I ask because when looking at the chart of DXY (USD) I notice where 102 held. That is a VERY IMPORTANT level because as long as 102 hold there is a possibility of DXY extending to 102.8 at the very least (to close the gap on the chart)

PLUS DXY is overextended for the week in range.
Attached Image (click to enlarge)
Click to Enlarge Name: DXY_2023-03-30_16-21-45.png Size: 26 KB
  • #738,564
  • Mar 30, 2023 3:23pm Mar 30, 2023 3:23pm
Quoting Jolita
{quote} Hey, how are you? Stay positive, everything will sort itself out. Normal process, strongest will survive no matter what. Usuall couse of failure is when business owners /banks spending exceed or is greater then profits, poor money management. You know this, you work in finance? Dollar will stay strong, and no way this bugger (lower case p) will take it over. His game plan is clear, we all can't wait for the arrest. UK is good but not brilliant, waiting for a family members from LT visit this weekend. {image} Enjoy ...
Cool. I am working 14 hours, sleeping 9 hours and 3 hours for everything else. So 14+9+3 is a bad choise.
I miss LT. But there are rumors that crisis will reach our beloved country as well. The food price inflation was above 30% last year. Everything is getting more and more expensive.
Yes, i am working in the finance sector. I know a little bit about how it works.
What are you doing in UK? Owning a small restaurant in the suburbs of London?

Stay strong and never lose hope.

  • #738,565
  • Mar 30, 2023 3:41pm Mar 30, 2023 3:41pm
can u please share the manual.
Quoting callmechief
{quote} I actually have the entire manual explaining how the market maker side of the platform is used against retail traders...
  • #738,566
  • Edited 4:07pm Mar 30, 2023 3:51pm | Edited 4:07pm
Quoting taragula
{quote} So acording to this there is much higher sell volume in eur/usd?
There is some context I'd like to share with you to answer your question.

Trends can be described as "price in search of value", which indicate an imbalance in order flow. This break in equilibrium occurs after the market maker removes a volume of traders from the market. This volume is accumulated over time in a specific range, and thus are worked against in a measurable fashion.

See the attached screenshot I made for you to help you understand how I see EURUSD. It was a BEAUTIFUL long setup. The key is to go long AFTER the stop-hunt low (against buyers), and short AFTER the stop hunt high (against buyers).

Do you see the gold dotted line that the stop hunt candle touches (yellow circle)? It was a super mild, ~15-pip stop hunt against the balanced volume (red). THINK ABOUT IT - One 15-pip pin bar, costing roughly $15,000,000 ($1Million/pip) was all that the market maker needed to do in order to engulf the stops and clear the books of buyers, then pushing price up. How frustrating must it be to be in long, get stopped out in an aggressive swing low and watch it move higher and higher... Not to mention, there was obviously a peak on 3.29.33 - the bias would have been to find a place to sell, especially after an aggressive move like that.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 13 KB
Discouragement is the language of the devil. Results over hype.
  • #738,567
  • Edited 4:15pm Mar 30, 2023 3:57pm | Edited 4:15pm
Quoting dempire1
{quote} okay sure but retail traders chunk of money is literally nothing unless hedge funds etc are in retail trader cathegory.
If retail trading is nothing, can you please answer for me why brokers are willing to give complete strangers thousands of dollars in leverage?
Discouragement is the language of the devil. Results over hype.
  • #738,568
  • Mar 30, 2023 3:58pm Mar 30, 2023 3:58pm
if the question is
is there a massive end of month reversal tomorrow?
the answer is
NO
run through the TF's (D1 up)and there all bullish
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #738,569
  • Edited 4:50pm Mar 30, 2023 4:09pm | Edited 4:50pm
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2023-03-30 at 22.05.03.png Size: 71 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #738,570
  • Mar 30, 2023 4:11pm Mar 30, 2023 4:11pm
Quoting genadi
{quote} Cool. I am working 14 hours, sleeping 9 hours and 3 hours for everything else. So 14+9+3 is a bad choise. I miss LT. But there are rumors that crisis will reach our beloved country as well. The food price inflation was above 30% last year. Everything is getting more and more expensive. Yes, i am working in the finance sector. I know a little bit about how it works. What are you doing in UK? Owning a small restaurant in the suburbs of London? Stay strong and never lose hope.
You work too much! Try cutting down and enjoy living little bit more.
Me? I am under recommended category - 8+8+8.
Yes, sadly current situation affects all of us somewhat.

Restaurant?
I am in finance too
  • #738,571
  • Mar 30, 2023 4:16pm Mar 30, 2023 4:16pm
Quoting fx6996
{quote} QUESTION - Which is more important when trading this pair? GBP or USD??? I ask because when looking at the chart of DXY (USD) I notice where 102 held. That is a VERY IMPORTANT level because as long as 102 hold there is a possibility of DXY extending to 102.8 at the very least (to close the gap on the chart) PLUS DXY is overextended for the week in range. {image}

DXY is on a support level @ 101.7533 ~ 101.750.. IF price break below it will get to 100.555 ~ 100.550 as TP1.. It is likely to break below.. We'll know soon...
And when it does break the support, GBPUSD, BTCUSD, GOLD and EURUSD will all rally...


Keep this number on your DXY and Thank me later..

Good Luck!
Attached Image (click to enlarge)
Click to Enlarge Name: DXY_2023-03-30_14-11-10.png Size: 17 KB
My telegram: https://t.me/avidforex
  • #738,572
  • Mar 30, 2023 4:17pm Mar 30, 2023 4:17pm
Quoting LifeRider
4hr chart: {image} ...and how it relates to weekly: {image} I'm still in a hole. One day I'll figure this out, but today is not that day...
Hey buddy, you aren't down 50 pips are you? Am I reading your first chart wrong?
Discouragement is the language of the devil. Results over hype.
  • #738,573
  • Mar 30, 2023 4:25pm Mar 30, 2023 4:25pm
Quoting callmechief
{quote} Hey buddy, you aren't down 50 pips are you? Am I reading your first chart wrong?
Yes, I certainly am. In a hole... I'll be fine. This is me learning. Thank you.
I have no clue where it's going
  • #738,574
  • Mar 30, 2023 4:34pm Mar 30, 2023 4:34pm
Quoting LifeRider
{quote} Yes, I certainly am. In a hole... I'll be fine. This is me learning. Thank you.
Its ok buddy! We all make mistakes. You aren't trading on high leverage are you?
Discouragement is the language of the devil. Results over hype.
  • #738,575
  • Mar 30, 2023 4:37pm Mar 30, 2023 4:37pm
Quoting callmechief
{quote} Its ok buddy! We all make mistakes. You aren't trading on high leverage are you?
No, 1:30 on Oanda. Small account. I appreciate the concern!
I have no clue where it's going
  • #738,576
  • Mar 30, 2023 4:40pm Mar 30, 2023 4:40pm
DXY V pattern I marked weeks back is near completion. Who had thought it will.
Can bounce of or who knows, there are plenty of steps lower..
You are superstar if followed.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20230330-223522~2.png Size: 65 KB
  • #738,577
  • Mar 30, 2023 4:40pm Mar 30, 2023 4:40pm
Quoting callmechief
{quote} . Do you see the gold dotted line that the stop hunt candle touches (yellow circle)? It was a super mild, ~15-pip stop hunt against the balanced volume (red). THINK ABOUT IT - One 15-pip pin bar, costing roughly $15,000,000 ($1Million/pip) {image}
how do you know?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #738,578
  • Mar 30, 2023 4:55pm Mar 30, 2023 4:55pm
Quoting callmechief
{quote} If retail trading is nothing, can you please answer for me why brokers are willing to give complete strangers thousands of dollars in leverage?
Well. Its a business. Roughly 200M in revenue per year business.
How to succeed in zero sum game?
  • #738,579
  • Mar 30, 2023 5:11pm Mar 30, 2023 5:11pm
Quoting callmechief
{quote} There is some context I'd like to share with you to answer your question. Trends can be described as "price in search of value", which indicate an imbalance in order flow. This break in equilibrium occurs after the market maker removes a volume of traders from the market. This volume is accumulated over time in a specific range, and thus are worked against in a measurable fashion. See the attached screenshot I made for you to help you understand how I see EURUSD. It was a BEAUTIFUL long setup. The key is to go long AFTER the stop-hunt low...
Tell me what you think!

Speaking of EURUSD... Here's my projection for tonight. The stop hunt low will vary depending on where asia session finds value... but i see a stop hunt against buyers, then rise, break out pending orders outside yesterday's high and last week's high are activated. Market maker pulls back to stop hunt pending longs sometime mid to late european session, then continues until they find balance end of NY session Friday. NEVER HOLD OVER THE WEEKEND!

On the contrary, there could be a swift sprint to yesterday and last week's highs, activate pending buy limit orders while inducing buyers in the unidirectional swing to the highs, followed by an aggressive move against the prevailing trend, ending friday in consolidation at lower levels.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2023-03-30 at 4.39.06 PM.png Size: 23 KB
Discouragement is the language of the devil. Results over hype.
  • #738,580
  • Mar 30, 2023 5:21pm Mar 30, 2023 5:21pm
Quoting Bones
{quote} how do you know?
As I've said before buddy, I met a retired CFD brokerage owner that was headquartered in Egypt. They weren't a market maker. He had a colleague who said the average cost to move any forex instrument 1 pip was around 1 million dollars.
Discouragement is the language of the devil. Results over hype.
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