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Cable Update (GBPUSD)

  • #746,141
  • May 17, 2023 3:02pm May 17, 2023 3:02pm
gbpusd
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Trendlines H1,H4, SMC
  • #746,142
  • May 17, 2023 3:18pm May 17, 2023 3:18pm
Quoting boodvah
Price is over my 1440 1 min average. May be long til around 1.251 it’s gonna be shorts from there for me
it’s crazy how this played out
be a thinker before being a reacter
  • #746,143
  • May 17, 2023 4:54pm May 17, 2023 4:54pm
Forex aside, just watched the movie Sisu (2023), Rambo has nothing on Sisu!

https://en.wikipedia.org/wiki/Sisu
  • #746,144
  • May 17, 2023 4:59pm May 17, 2023 4:59pm
Quoting voeltoez
Short in 1.2505...SL 1.2550..will add every -15pips h4 barrier is too strong {image}
closed 20pips..looking for short aignal again later
  • #746,145
  • May 17, 2023 6:50pm May 17, 2023 6:50pm
Quoting Mitiblotch
{quote} Some financial institutions are already predicting 1.20 on EU to end the year. A particular group says flash crash below 1.05 will be temporary if it happens.
Are they taking bets? What odds are they offering?
  • #746,146
  • May 17, 2023 8:25pm May 17, 2023 8:25pm
Quoting Elysion
{quote} Not much movements in GJ yet. Yen weakness is holding it i guess.
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60 pips atm
Btw Elysion, does your broker charge rollover fee for this GJ?
My broker chage rollover fee 2$ each 0.03 lot
my loss is your gain
  • #746,147
  • May 17, 2023 8:29pm May 17, 2023 8:29pm
Quoting Bogdanoff
{quote} {image} 60 pips atm Btw Elysion, does your broker charge rollover fee for this GJ? My broker chage rollover fee 2$ each 0.03 lot
Nope they don't, that's why I can hold positions overnight but it's a risky bet as opening gap exists + widespread during market open.

I'm out of the short btw. Took some good profits.
Exhausted
  • #746,148
  • May 17, 2023 8:31pm May 17, 2023 8:31pm
As expected of AUD data.
Bad data for AUD.
Took long in EURAUD prior to that and made quick 60 pips.
Exhausted
  • #746,149
  • May 17, 2023 8:34pm May 17, 2023 8:34pm
Quoting Bogdanoff
{quote} {image} 60 pips atm Btw Elysion, does your broker charge rollover fee for this GJ? My broker chage rollover fee 2$ each 0.03 lot
thats a lot, dont know what rollover mean, but my broker taking spread +-1.7 in GBPJPY per OP plus 1$ per 0.1 Lot mean per 0.1 Lot on GBPJPY we charged only $2.7
Other than that and free swap overnight
My broker regulated in my country
10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #746,150
  • May 17, 2023 8:36pm May 17, 2023 8:36pm
Nice gap down on AUD news release. Was short on AUD on AUDCAD since yesterday.
  • #746,151
  • May 17, 2023 8:43pm May 17, 2023 8:43pm
Quoting GODofMC
{quote} thats a lot, dont know what rollover mean, but my broker taking spread +-1.7 in GBPJPY per OP plus 1$ per 0.1 Lot mean per 0.1 Lot on GBPJPY we charged only $2.7 Other than that and free swap overnight My broker regulated in my country
if im not mistake, roll over mean fee that you must pay cuz holding position overnight and different interbank interest rate between GJ
So total rollover 2$ and spread 3 pips for GJ
I use fxcm btw
my loss is your gain
  • #746,152
  • May 17, 2023 8:44pm May 17, 2023 8:44pm
Quoting Elysion
As expected of AUD data. Bad data for AUD. Took long in EURAUD prior to that and made quick 60 pips.
i took long aud..bad data but revised very good
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  • #746,153
  • May 17, 2023 8:51pm May 17, 2023 8:51pm
Quoting voeltoez
{quote} i took long aud..bad data but revised very good {image}

Yep, going long now should be good.
Plus price stopped dropping at a seemingly looking support/bottom of yesterday. Double bottom formed.
It should move up right now.
Exhausted
  • #746,154
  • May 17, 2023 8:53pm May 17, 2023 8:53pm
Still looking for a good entry to go long and hold on GU.
But my trading style doesn't suit swing trading/holding positions.
Not sure if I should enter now or wait till London.
Exhausted
  • #746,155
  • May 17, 2023 9:03pm May 17, 2023 9:03pm
2520/25 is what I am looking.

200 Hour EMA as well as R1.

This is first target
Intraday only.
  • #746,156
  • Edited 10:33pm May 17, 2023 9:50pm | Edited 10:33pm
Quoting OBsayMkMoney
{quote} Weekly S/R level. Now let's follow this and implement some trading rules.. S/r trades follow the BRT rule. Breakout, Retest, Trade. So if we just broke out that would signal a retest is in the works. Being on the weekly that retest may take up to 5 days. A nice dual news day should take care of things. News in the morning for the retest, and more in the afternoon to continue the trend. Only day I see that happening is next wed. This is purely speculation on my part, and a game I like to play. Waiting on wave recognition, and price action...
Not every S/R are equal.
The strongest one are the S/R on weekly market structure based(swing highs/lows) Can give us up to 150pips or more rewards easily in 8-12 hrs and sometimes 3days, and price rarely touched that Weekly S/R level (orders are filled 6-10pips away from the level)

The 2nd strongest is still on Weekly S/R is drawn on only weekly candle wicks like something like 20-30 weekly bars from the current price. When you go down on daily tf, it acts as a significant Support resistance (SSR), and can be used as a high probability Support Resistance flip on lower timeframe like 4hr/1hr/30 mins (~70-110 pips win from it)

The 3rd one is based on daily timeframe but isn't a SSR, we have that level more breakthrough than it holds. Its strength is low. But when you go on 4hr timeframe it is quite a good s/r level but usually comes with 30-50pips, sometimes it can go up to 65-70pip(rarely)

Finally, the s/r that appears only in 1hr or 30mins timeframe, and majority of them gonna breakout unless it comes with other setup indicators like fib level, flag limit, 4hr OB. It may consider as a good entry or exit point.

What i need to look in a chart i learned it from PAT, but how the time or amount of pip or when it worked the most and when not, i get it from the outcome of my previous trades in my trading journal.
More time in the market, does not mean you trade better!
  • #746,157
  • May 17, 2023 10:24pm May 17, 2023 10:24pm
The pound-yen was shorted, but it was slightly eaten away. If the daily open is exceeded as it is, it will be SL, but since the QQE-indicator is falling, we expect the price to break below the low.
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  • #746,158
  • May 17, 2023 10:51pm May 17, 2023 10:51pm
As i mentioned on here many times...the DXY is breaking out of a weekly triangle and looking bullish which is bearish for cable......patience is the name of the game!!!
  • #746,159
  • May 17, 2023 11:01pm May 17, 2023 11:01pm
target is 1.24250
be a thinker before being a reacter
  • #746,160
  • May 17, 2023 11:18pm May 17, 2023 11:18pm
Target Pat's kink zone.
1.254
Exhausted
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