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Cable Update (GBPUSD)

  • #744,521
  • May 6, 2023 3:56am May 6, 2023 3:56am
Quoting Jolita
Happy weekend! Gap down at opening or up? There are lots of political talks going on. Labour crashed Torries in latest council election, and who is to blame them losing 1061 seats? Can't wait for a new general election. As investors started to favour Sunak's government, we have clear chaos behind the closed doors. Interesting to see how the latest news will be read. Today we have glorious celebration around the country, while 100mln will be added to tax payers pockets. We should all enjoy coronation quiche and move on. Recipe https://www.bbc.com/travel/article/2...onation-quiche...
it seems the MM cooking something up. Usually a poor election data set for the Tory’s sends the pound down. As would have decent NFP add to that the slightly hawkish FOMC and yet 12550 not budging. My conspiracy theory is the MM’s have artificially let the pound go up for this weekend and boom let it blow later. However I think next week is BoE if they announce a pause in rates soon there could be more chaos
Insane in the Brain..
  • #744,522
  • May 6, 2023 4:07am May 6, 2023 4:07am
Quoting Whale
{quote} it wasn't an advice or something like that. I believe people are smart, and they know what they're doing. Just a footnote to the weekend
Just shows everyone is different....
  • #744,523
  • May 6, 2023 4:09am May 6, 2023 4:09am
Quoting BeeTogether
{quote} it seems the MM cooking something up. Usually a poor election data set for the Tory’s sends the pound down. As would have decent NFP add to that the slightly hawkish FOMC and yet 12550 not budging. My conspiracy theory is the MM’s have artificially let the pound go up for this weekend and boom let it blow later. However I think next week is BoE if they announce a pause in rates soon there could be more chaos
Your thinking draws the same conclusion as @Georginson for different reasons.
  • #744,524
  • May 6, 2023 4:09am May 6, 2023 4:09am
Quoting BeeTogether
{quote} ouch!! Have been caught on wrong side of trades like that in the past too. Would love another visit to below 120 would pay for a years supply of Cheetos
I was expecting it, I've said before my scalps turn into long term investments...
  • #744,525
  • May 6, 2023 4:11am May 6, 2023 4:11am
Weather shit outside and nothing going on of any interest in the UK, looks like a day of FF for me ...
  • #744,526
  • May 6, 2023 4:51am May 6, 2023 4:51am
Quoting BeeTogether
{quote} it seems the MM cooking something up. Usually a poor election data set for the Tory’s sends the pound down. As would have decent NFP add to that the slightly hawkish FOMC and yet 12550 not budging. My conspiracy theory is the MM’s have artificially let the pound go up for this weekend and boom let it blow later. However I think next week is BoE if they announce a pause in rates soon there could be more chaos
I agree, some orchestrated twists accured, only large funds can change money flows.
UK top people had huge interest in fixing downgraded pound early this year and it worked. We also aware of who had intentions on weakening US dollar.

Monthly Fib 61.8% is ~12760.
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  • #744,527
  • May 6, 2023 5:12am May 6, 2023 5:12am
Quoting Jolita
{quote} I agree, some orchestrated twists accured, only large funds can change money flows. UK top people had huge interest in fixing downgraded pound early this year and it worked. We also aware of who had intentions on weakening US dollar. Monthly Fib 61.8% is ~12760. {image}
Incidentally it touched the 4hr 20EMA. I wonder if that was to pick up some orders?
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I have no clue where it's going
  • #744,528
  • May 6, 2023 6:36am May 6, 2023 6:36am
Quoting Georginson
{quote} its preparing for gigantic fall from early next week, this move is highly manipulated to eject early sellers and trap enough buyers upstairs... I see this run stopping around 1.2690 area then full scale sell back to 1.2500, then 1.2383. Patience and good money management will do the trick.


bro kindly help me look at the quarterly range on the minimum

my Q2 open at 1.23

i expect 500 to 750 pips up or down

1.28 or 1.18

1.28 is more favorable
MY OPINION NOT FINANCIAL ADVISE
  • #744,529
  • May 6, 2023 6:43am May 6, 2023 6:43am
Quoting Whale
{quote} Patience is virtue, but i think taking the losses is smarter. time is more expensive than money in the forex world.

1pip target turned hundreds

best Trader ever lived
MY OPINION NOT FINANCIAL ADVISE
  • #744,530
  • May 6, 2023 10:07am May 6, 2023 10:07am
Here we have some fractal formations. UJ is leading so i can disregard all other pairs except which the following which are on diferent phases:
gold
GU
EA
EJ
GA
Been working hard. In fact, never stopped for several years, everyday maybe. Like a crazy inventor.
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POSTMASTER
  • #744,531
  • Edited 12:31pm May 6, 2023 12:12pm | Edited 12:31pm
Quoting donfriday
{quote} bro kindly help me look at the quarterly range on the minimum my Q2 open at 1.23 i expect 500 to 750 pips up or down 1.28 or 1.18 1.28 is more favorable
hello Bro, minimum quarterly range for Q2 is usually between 500 - 750 pips as you pointed out. Which means that 1.28 is realistic in this quarter.

So far we have already seen 1.2273 - 1.2653 which is 380 pips of expected minimum of 500 pips...

Simulations below
1.2273 + 500 pips = 1.2773
1.2273 + 650 pips = 1.2923

1.2773 looks very likely to occur and as I pointed out earlier, this May High will be limited to 1.2780 and if such occurs, 1.2380 can still be seen This May as well.

There have been many consecutive bullish weekly close with signs of exhaustion and bears are not too far away from slamming this price down with tremendous aggression. One single weekly candle can crash 300 pips.

This is my view which may be wrong.
Data + Stat + Risk/Emotions Management
  • #744,532
  • May 6, 2023 2:29pm May 6, 2023 2:29pm
Happy weekend
Inserted Video
You have an IQ lower than 90 if you interact with this user.
  • #744,533
  • May 7, 2023 12:48am May 7, 2023 12:48am
it's clear enough to me for the next week
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https://breakpullback.com
  • #744,534
  • May 7, 2023 1:37am May 7, 2023 1:37am
Quoting eyefeelsix
it's clear enough to me for the next week {image}
so its better to wait for pullback then buy right?
  • #744,535
  • May 7, 2023 1:54am May 7, 2023 1:54am
I hope this work and we see the rejection from here.


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  • #744,536
  • May 7, 2023 1:57am May 7, 2023 1:57am
Quoting eyefeelsix
it's clear enough to me for the next week {image}
That's great.
I also see that the buying power has decreased and there is a shortage of bearish correction, which should be 30-50 pips.
this will happen.
this is just my own view.
  • #744,537
  • May 7, 2023 6:49am May 7, 2023 6:49am
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bulls seem to be in power still. the bears are in a goood place to take manipulate liquidity.
be a thinker before being a reacter
  • #744,538
  • May 7, 2023 7:58am May 7, 2023 7:58am
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trade is in the position size calculator
The Trend Is Your Friend
  • #744,539
  • May 7, 2023 9:33am May 7, 2023 9:33am
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  • #744,540
  • May 7, 2023 11:39am May 7, 2023 11:39am
There appears to be a lot of evidence suggesting that GU will drop in the near term. The only detail working against a drop is the bias of retail traders to short! Typically that is an excuse for it to go higher not lower!
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