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Cable Update (GBPUSD)

  • #740,161
  • Apr 10, 2023 8:12am Apr 10, 2023 8:12am
Can anyone explain the drop as there was no


news is it a mere l pullback any info much appreciated
average dude treading water
  • #740,162
  • Apr 10, 2023 8:13am Apr 10, 2023 8:13am
Quoting Yngwie
Long 1.2346 SL 1.2310
Small scalp?
I have no clue where it's going
  • #740,163
  • Apr 10, 2023 8:13am Apr 10, 2023 8:13am
Quoting Waveskierrob
{quote} ...and how do you know that your statistical tested edge will be the same in the future....
trading is based on the assumption that what has worked in the past will work in the present:
every new trade adds to the already existing statistical corpus (and as long as the incoming data back up the historical data you keep following your system)
  • #740,164
  • Apr 10, 2023 8:13am Apr 10, 2023 8:13am
Quoting MIKKI
Can anyone explain the drop as there was nine news is it a meal pullback any info much appreciated
That drop was supposed to happen last week, but Cable waited for me to close all shorts out of fear of the weekend.
I have no clue where it's going
  • #740,165
  • Apr 10, 2023 8:14am Apr 10, 2023 8:14am
Retail is funny. Price dumps they buy, it spikes they sell. Hahahaha...
  • #740,166
  • Apr 10, 2023 8:15am Apr 10, 2023 8:15am
Quoting MIKKI
Can anyone explain the drop as there was no news is it a mere l pullback any info much appreciated
It's lack of buy side liquidity coupled to a buildup of market sell orders.
  • #740,167
  • Apr 10, 2023 8:15am Apr 10, 2023 8:15am
Quoting Mitiblotch
Retail is funny. Price dumps they buy, it spikes they sell. Hahahaha...

retail trader money is very important


my target for now is 1.2450 from this zone
MY OPINION NOT FINANCIAL ADVISE
  • #740,168
  • Apr 10, 2023 8:16am Apr 10, 2023 8:16am
Quoting ForexGoose
bought at 1.238, s/l under 1.235, target 1.25+
i'm still in this trade as I don't expect the bears to appear on h4 today

the dump is fake in my opinion
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #740,169
  • Apr 10, 2023 8:17am Apr 10, 2023 8:17am
Quoting voeltoez
{image}{quote}
ngerriiiii...... up bullish flag. salam rampage
Everything is possible but not guaranteed
  • #740,170
  • Apr 10, 2023 8:20am Apr 10, 2023 8:20am
Quoting donfriday
{quote} retail trader money is very important my target for now is 1.2450 from this zone
I was selling EU and the dump gave me my TP. Here, see my idea: the triangle was from last week. Now it breaks down and also breaks below that horizontal support. I think that's a breaks of structure to the downside. Buying may not yield much at this point. From where I sit I think this will touch 228x area.
Attached Image (click to enlarge)
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  • #740,171
  • Apr 10, 2023 8:20am Apr 10, 2023 8:20am
I think it will go to 1.2366 and then drop again, it just broke the 30 min channel, i think it will track down.
  • #740,172
  • Apr 10, 2023 8:20am Apr 10, 2023 8:20am
Quoting MIKKI
Can anyone explain the drop as there was no news is it a mere l pullback any info much appreciated
A logical reason could be due to the economic data we got on Friday. Markets didn't fully digest the data due to the public holiday/markets being closed.

Looks like we're getting that delayed reaction today. And we still have the London markets to open tomorrow. We could have dropped even lower if London was open today.

My hunch is that the market is now pricing in the fed hiking interest rates by another 25 basis point next month (especially if CPI data comes in higher than anticipated this Wednesday).

Good luck with your trades.
  • #740,173
  • Apr 10, 2023 8:21am Apr 10, 2023 8:21am
Opened a short just before the reversal so that's why it's going long now , had a SL at BE so no issues.

As above low.liquidity, retail traders jumping in late and all those sell orders happens both ways, squeeze out all those buys or new shorts and then back it goes.

Stick with a plan, follow a long term trend and keep your money safe
  • #740,174
  • Apr 10, 2023 8:22am Apr 10, 2023 8:22am
Quoting pipcenturion
{quote} Hello George, I think we will see 1.23022 and slightly lower before 1.26
Hi PC. Seems a good prediction. Although i do not hold any cable positions, we might see an approach close to 1.2430 before your target due around tuesday/wednesday midnight GMT+1. I am working out on squaring time & price now. Lets see. Cheers
POSTMASTER
  • #740,175
  • Apr 10, 2023 8:22am Apr 10, 2023 8:22am
Next drop should take it 1.2280 tp
  • #740,176
  • Apr 10, 2023 8:24am Apr 10, 2023 8:24am
Quoting Pat Chiko
{quote} GU Give it a try, maybe got luck with this trades. {image}
GU

Show me your rocket please.........
Add position to avoid stopped out.......... (if got luvk)
Attached Image (click to enlarge)
Click to Enlarge Name: gu 142.jpg Size: 141 KB
I come from the future.
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  • #740,177
  • Apr 10, 2023 8:24am Apr 10, 2023 8:24am
Quoting josi
{quote} trading is based on the assumption that what has worked in the past will work in the present: every new trade adds to the already existing statistical corpus (and as long as the incoming data back up the historical data you keep following your system)
Assumption ....so gambling then...
  • #740,178
  • Apr 10, 2023 8:25am Apr 10, 2023 8:25am
Quoting Waveskierrob
{quote} unless you are 100% sure it's all gambling...
Luck has nothing to do with gmabling.............
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #740,179
  • Apr 10, 2023 8:26am Apr 10, 2023 8:26am
Quoting Waveskierrob
{quote} Assumption ....so gambling then...
well, I don't try to be critical but
maybe you just don't understand the concepts of statistical edge and gaussian distribution
  • #740,180
  • Apr 10, 2023 8:29am Apr 10, 2023 8:29am
Quoting Pat Chiko
{quote} GU Show me your rocket please......... Add position to avoid stopped out.......... (if got luvk) {image}
Where is my money pat!?? you said t o go long!
Arghhh!
You have an IQ lower than 90 if you interact with this user.
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