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Cable Update (GBPUSD)

  • #744,921
  • May 10, 2023 7:56am May 10, 2023 7:56am
Sold 1.2674, target 1.2624 ..

Second sell limit at 1.2724, target 1.2674...
Data + Stat + Risk/Emotions Management
  • #744,922
  • May 10, 2023 7:56am May 10, 2023 7:56am
Quoting pipfarm
{quote} Nice, that H4 correction taken out after the break of 2640 , the push down was going for liquidity at the obvious place for stops below 2640
And now price is pushing the MN2 TF to higher highs.
To free Gazans of Hamas, use whatever it takes.
  • #744,923
  • May 10, 2023 7:58am May 10, 2023 7:58am
Quoting pipfarm
{quote} Good job buddy, looks like we are two of the few that got it right Based on the fact this is a 4H continuation expect a pretty good pay out but look for signs of weakness, no one really knows where the top will be , i can guess or use some indicators but that is about it.
It's an H8 continuation, actually.
To free Gazans of Hamas, use whatever it takes.
  • #744,924
  • May 10, 2023 7:59am May 10, 2023 7:59am
So we've just made a price not seen in 13 months, the last 11 weekly candles except on bearish doji have been bullish. Surely there isn't much left up there?
  • #744,925
  • May 10, 2023 7:59am May 10, 2023 7:59am
That was nice!
be a thinker before being a reacter
  • #744,926
  • May 10, 2023 7:59am May 10, 2023 7:59am
Quoting Fardeen1209
{quote} 4hr BOS, BOE rate will surely on the correction phase, then long again
BOS during a trend phase which is a corrective swing are more likely to move the other way swiftly where as BOS in an already established trend are more likely to move further before correcting.

If you look at the chart i posted earlier you will see what i mean.
Follow The Markets Structure - Patience and Discipline
  • #744,927
  • May 10, 2023 8:02am May 10, 2023 8:02am
Quoting DrDave
{quote} It's an H8 continuation, actually.
Maybe but the corrective phase was showing on my H4 so that was good enough for me.
Follow The Markets Structure - Patience and Discipline
  • #744,928
  • May 10, 2023 8:04am May 10, 2023 8:04am
The idea that the rate of inflation is coming down is utter BS. Lending Tree released some data that showed that 21% of people have use a Buy Now Pay Later to buy groceries.
  • #744,929
  • May 10, 2023 8:04am May 10, 2023 8:04am
Quoting Mitiblotch
{quote} Can we please go hit 1.27 and get it over with already?!
Miti, lucky that the market cooperated with your analysis... 1.27 possible if GU will have today The Day of the Horse...
Attached Image (click to enlarge)
Click to Enlarge Name: GU 05.10 15M.png Size: 36 KB
Always trade your own plan...I don't provide trading signals.
  • #744,930
  • May 10, 2023 8:06am May 10, 2023 8:06am
Quoting DrDave
{quote} Of course not all the time. Some news release don't even make a wiggle in the price, let alone spiking. I don't think that there is any correlation between the the magnitude of the spike and deviation from consensus.
Thats one way of seeing it.
But ig sometimes the magnitude of the spike depend on the active market participants and how deep are their pockets. Nobody really know who are the current market participants and what they expect from the market.
But i think when these guys decide which fundamental data they want to use to restructuring their massive long term positions, thats why we experienced volatility on the fundamental data. Which explains why sometimes we experience a 70 pips on a Initial jobs claims but a 30pips on a FOMC
More time in the market, does not mean you trade better!
  • #744,931
  • May 10, 2023 8:09am May 10, 2023 8:09am
Quoting sharingan9
GU gearing up for another bull move potentially.
Value dictates whether a market will be imbalance or balanced. Value drives the markets. Price moves back in the value direction as expected which is up to reach monthly r1. If price is king. Value is God. I've been long on GU all week maintaining the bullish perception of value formed by the bounce from orange monthly pivot and weekly support pivots.

Before:

Attached Image (click to enlarge)
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After

Attached Image (click to enlarge)
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  • #744,932
  • May 10, 2023 8:11am May 10, 2023 8:11am
Quoting DrDave
{quote} Of course not all the time. Some news release don't even make a wiggle in the price, let alone spiking. I don't think that there is any correlation between the the magnitude of the spike and deviation from consensus.
I did an analysis of NFP going back 3 years to see if there is any correlation between whether the news is positive or negative and the direction of the resulting price movement.

I couldn't find any that was significant. So it obviously can move dramatically, but the correlation is so small as to effectively be a coin toss.
  • #744,933
  • May 10, 2023 8:11am May 10, 2023 8:11am
Quoting DrDave
{quote} Of course not all the time. Some news release don't even make a wiggle in the price, let alone spiking. I don't think that there is any correlation between the the magnitude of the spike and deviation from consensus.
Another way of seeing it is do you think the magnitude of the spike from the fundamentals figures follows the market structure?
More time in the market, does not mean you trade better!
  • #744,934
  • May 10, 2023 8:12am May 10, 2023 8:12am
Hopefully it was a pump and dump scenario....
average dude treading water
  • #744,935
  • May 10, 2023 8:19am May 10, 2023 8:19am
im in
Attached Image (click to enlarge)
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  • #744,936
  • May 10, 2023 8:22am May 10, 2023 8:22am
Attached Image (click to enlarge)
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yes yes yes
  • #744,937
  • May 10, 2023 8:23am May 10, 2023 8:23am
I waited for the price to spike..to short.

And now all done.

Will see if it can goto round number today to short again
Intraday only.
  • #744,938
  • May 10, 2023 8:25am May 10, 2023 8:25am
Quoting Fardeen1209
{quote} Thats one way of seeing it. But ig sometimes the magnitude of the spike depend on the active market participants and how deep are their pockets. Nobody really know who are the current market participants and what they expect from the market. But i think when these guys decide which fundamental data they want to use to restructuring their massive long term positions, thats why we experienced volatility on the fundamental data. Which explains why sometimes we experience a 70 pips on a Initial jobs claims but a 30pips on a FOMC
sometimes the magnitude of the spike depend on the active market participants and how deep are their pockets.
That is pure speculation.

I don't have any studies of this specific correlation, but I have previously posted a discussion that showed that catastrophic news that one would expect to cause a tremendous distruption to all markets hardly has an effect that lasts more than a single day, and then the market simply resumes business as usual..
To free Gazans of Hamas, use whatever it takes.
  • #744,939
  • May 10, 2023 8:27am May 10, 2023 8:27am
I’m sure price will continue trending up
be a thinker before being a reacter
  • #744,940
  • May 10, 2023 8:28am May 10, 2023 8:28am
Quoting MrFanciful
{quote} I did an analysis of NFP going back 3 years to see if there is any correlation between whether the news is positive or negative and the direction of the resulting price movement. I couldn't find any that was significant. So it obviously can move dramatically, but the correlation is so small as to effectively be a coin toss.
Thanks for taking on the arduous task of doing the correlation analysis. Yet another result in support of "events" not being correlated with price movement.
To free Gazans of Hamas, use whatever it takes.
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