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Cable Update (GBPUSD)

  • #742,401
  • Apr 21, 2023 9:46am Apr 21, 2023 9:46am
Quoting Elysion
{quote} Yep, seems like it in the hourly chart.
this a common strategy, i think ICT teach it as well.
look for it
  • #742,402
  • Apr 21, 2023 10:01am Apr 21, 2023 10:01am
So 124 is a weak area can’t see GU getting back up to 12430 today. US data was good and for amber it moved quite. Not sure why Red data didn’t move the market as much
Insane in the Brain..
  • #742,403
  • Apr 21, 2023 10:11am Apr 21, 2023 10:11am
Quoting BeeTogether
So 124 is a weak area can’t see GU getting back up to 12430 today. US data was good and for amber it moved quite. Not sure why Red data didn’t move the market as much
It was another of those data releases that shouldn't make a direct index on Forex. It makes no sense!
The PMI rising above 50 suggests that business activity is picking up slightly. This alone does not indicate higher prices or any other specific triggers for the FED.
Oh well, it is what it is.
  • #742,404
  • Apr 21, 2023 10:16am Apr 21, 2023 10:16am
Monty I heard you famous for the ......help us out.....
average dude treading water
  • #742,405
  • Apr 21, 2023 10:18am Apr 21, 2023 10:18am
This is fun.
Exhausted
  • #742,406
  • Apr 21, 2023 10:20am Apr 21, 2023 10:20am
Quoting dantpm
{quote} It was another of those data releases that shouldn't make a direct index on Forex. It makes no sense! The PMI rising above 50 suggests that business activity is picking up slightly. This alone does not indicate higher prices or any other specific triggers for the FED. Oh well, it is what it is.
makes me scratch my head and think what do we know…
Insane in the Brain..
  • #742,407
  • Apr 21, 2023 10:24am Apr 21, 2023 10:24am
Quoting BeeTogether
{quote} makes me scratch my head and think what do we know…
nothing;-)

we can only manage our risk
trading is like dancing, don't think and just listen to the music!
  • #742,408
  • Apr 21, 2023 10:24am Apr 21, 2023 10:24am
Scalp short here at 1.2410 ...... We should be back to 1.2400 soon
  • #742,409
  • Apr 21, 2023 10:25am Apr 21, 2023 10:25am
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Exhausted
  • #742,410
  • Apr 21, 2023 10:30am Apr 21, 2023 10:30am
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yes yes yes
  • #742,411
  • Apr 21, 2023 10:33am Apr 21, 2023 10:33am
GBP and DX patterns

nice evening...
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Trendlines H1,H4, SMC
  • #742,412
  • Apr 21, 2023 10:37am Apr 21, 2023 10:37am
Quoting BeeTogether
{quote} makes me scratch my head and think what do we know…
When you have a lot of sellers, and you must change it, this is what you do.
kill bears, and flash it down the toilet.
  • #742,413
  • Apr 21, 2023 10:39am Apr 21, 2023 10:39am
I wish Eid Mubarak to all muslim friends in this forum.
Happy holiday...
  • #742,414
  • Apr 21, 2023 10:52am Apr 21, 2023 10:52am
Quoting Ehminiz
A big wrap. profitable week. {image}
Congrats, You were probably one of a few who had a profitable week with GBPUSD.

It was my one of my hardest weeks for a long time (-5.5%, should have been -3.0 or near, but took non-system trades).
All Assets NAS100 GLD BTC AUS JPY GBP All Time Return: 18.2%
  • #742,415
  • Apr 21, 2023 10:52am Apr 21, 2023 10:52am
support still holding. Long position still active, same with buy order at 1.23. TP 1.25
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  • #742,416
  • Apr 21, 2023 11:05am Apr 21, 2023 11:05am
Please do request to Gbpusd come down
Quoting Moty
{image} {image}
  • #742,417
  • Apr 21, 2023 11:25am Apr 21, 2023 11:25am
Next Week Plan 24th-28th April 2023:

I will not trade until we get a breakout of this weeks range (shaded grey), a 4 hr close.

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All Assets NAS100 GLD BTC AUS JPY GBP All Time Return: 18.2%
  • #742,418
  • Apr 21, 2023 11:32am Apr 21, 2023 11:32am
Quoting Wavegarrick
{quote} Buy trade entered at 1.24214 and will look to enter more towards 1.24100. Cheers.
And so it is. My rinse and repeat buy strategy working out fine. The important thing was to put protective stops on my best buy trades in case we had a break out either way. It turns out that my weaker trades or should I say scalps have been churning the pips for me.
Closed 556 pips in weak trades for the week:
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1 Hr chart:
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Here's the thing: It seems we are in an inside weekly bar with price unable to make a new weekly higher high or low - hence ranging. I do not believe that Bears are anywhere close to being in control and in fact I still stick with Bulls. My yearly 61.8% Fib retrace at 1.24401 has been holding bulls back but I believe it is only a matter of time for 1.2450 to go and could accelerate bullish momentum. On the flips side, there are lots of hard supports for Bears to cross. Anyway, will deal with this in case of a flip.
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Have a great weekend,
Cheers.
Trade to trade another day
  • #742,419
  • Apr 21, 2023 11:32am Apr 21, 2023 11:32am
Switch to long...buy at 1.2422 target 1.2500. Stop loss 1.2412
  • #742,420
  • Apr 21, 2023 11:42am Apr 21, 2023 11:42am
Switch to long...buy at 1.2422 target 1.2500. Stop loss 1.2412[/quote]
25 will only reach next week not today.
average dude treading water
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