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Cable Update (GBPUSD)

  • #747,581
  • May 25, 2023 7:44am May 25, 2023 7:44am
Quoting BeeTogether
US data good , can’t see 124 yet.. let’s see what tomorrow brings
The US data supported the economy getting stronger and supports the notion that the FED is on track, nothing suggests changes in rates so the forex impact should be nil, instead we have the USD rallying.
  • #747,582
  • May 25, 2023 7:46am May 25, 2023 7:46am
Quoting Pat Chiko
{quote} GU This is the reason, I keep on taking partial profit as market are so manipulaative, price can drive just to grab our SL without any hasistation. Thus taking partial profits is important because prices can fluctuate, finding liquidity and taking advantage of weak positions from retail traders. These price fluctuations are driven by algorithms deployed by brokers, market makers, and banks. These institutions have access to all positions in the market and use algorithms to analyze high-volume positions. They then drive the market to consume...
GU

News Trades
Add position
Cash out some.
Let the balance run to whereever she want to go..
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #747,583
  • May 25, 2023 7:47am May 25, 2023 7:47am
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yes yes yes
  • #747,584
  • May 25, 2023 7:48am May 25, 2023 7:48am
Quoting ashur123
small buy positions entered. Buy order at 1.23. TP 1.26 {image}
good sir
  • #747,585
  • May 25, 2023 7:51am May 25, 2023 7:51am
Quoting Pat Chiko
{quote} My apology to upset few on this subject. Sorry again....and understand that you are upset with my post. {image} I have made it clear that I have never had any deal or association with Market Maker. However, I believe that my post is accurate and that it is important to be aware of the reality of the forex market. It is true that you cannot beat the market using conventional methods. The market makers have access to more information and resources than you do, and they are always looking for ways to make money. If you want to be successful...
Pat, wow, that's something...even I don't have that many hardcore admirers. Congrats.
Always trade your own plan...I don't provide trading signals.
  • #747,586
  • May 25, 2023 7:52am May 25, 2023 7:52am
Quoting pipfarm
GU H1 is in what currently looks like an upside correction against H4 and H4 has been moving down with the daily So would prefer to short if i get an entry signal. If the 4H swing trend is ending we may see it go up.
GU H1 is in what currently looks like an upside correction against H4
Actually, it has progressed to H2, giving more weight to the possibility that H4 will turn up.
To free Gazans of Hamas, use whatever it takes.
  • #747,587
  • Edited 8:06am May 25, 2023 7:54am | Edited 8:06am
Quoting GODofMC
{quote} ready your horse moty, it still like before cut loss, MC or TP dang, 1 Long position is in the mountain SELL EXECUTED dont know if this a right thing, sell at near bottom {image} {image}
Something hold the market, or it is buyer and seller waiting for the next news, if this going like that im afraid red news will spiked UP


MF, cut here. Very heartbreaking
Green GDP better than prediction but Lower than last month
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10000% Wannabe . -$3000 & -$4000
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  • #747,588
  • May 25, 2023 7:55am May 25, 2023 7:55am
I know I sound obsessed with a bearish candle on the DXY but the alternative is that from here on out, until the end of time, there are only going to be bullish 4hour candles.
  • #747,589
  • May 25, 2023 8:04am May 25, 2023 8:04am
If there is a close below 1.2330, then Every TF from Weekly to M1 will be going down. If H1/H2 mamage to stay above that level, there is still the possibility of more upswings, trying to get H4 turned up.
To free Gazans of Hamas, use whatever it takes.
  • #747,590
  • May 25, 2023 8:07am May 25, 2023 8:07am
Quoting GODofMC
{quote} Something hold the market, or it is buyer and seller waiting for the next news, if this going like that im afraid red news will spiked UP MF, cut here. Very heartbreaking Green GDP better than prediction but Lower than last month {image}
lucky have some reading, price went back to my sell area
while may still goes down to PAT TP, i'll let it go
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10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #747,591
  • May 25, 2023 8:16am May 25, 2023 8:16am
Hi All,

My trades are done for today but just interested to see if this scenario plays out just as a learning curve. I'm with pipfarm re longer term downward trend - just look at the daily - and also shorter term correction as per H1/H4.

Rgds, Angus
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  • #747,592
  • May 25, 2023 8:18am May 25, 2023 8:18am
I do think ( may be ) a buy here just above 2335.
Intraday only.
  • #747,593
  • May 25, 2023 8:20am May 25, 2023 8:20am
Quoting GODofMC
{quote} Something hold the market, or it is buyer and seller waiting for the next news, if this going like that im afraid red news will spiked UP MF, cut here. Very heartbreaking Green GDP better than prediction but Lower than last month {image}
Once i read something about economic data from hedgefunds ceos/founders(from market wizards), he said initially when you put on a trade, chance 50-50.
But if you have a good understanding on how the market react to the data and their deviations, you can put the odds in your favour, and this will happen every month. You keep this day to grow your account significantly with very low risk, since the move is much easier to predict and massive.
More time in the market, does not mean you trade better!
  • #747,594
  • May 25, 2023 8:22am May 25, 2023 8:22am
Quoting BeeTogether
{quote} I’d have thought the numbers being good is good for USD?
Not always. Currently market is fearing more rate hikes. All indications of growing economy / price lifting is putting more pressure on the fed and more pain for the companies so less profit and money is leaving US.

Today's numbers were strong so more rate hikes, USD down but because it was GDP analysts probably think that the economy is growing "healthy" because you cannot directly see that GDP is only price driven. Problem here is that the current Growth of GDP is probably because of still rising prices and not because of growing business. Huge difference. But today they decided to take it as a good sign - at least I think so or the 30 minutes after news were false flag (looks like currently).

I would say: Don't trade the news - unless it is clear.
  • #747,595
  • May 25, 2023 8:26am May 25, 2023 8:26am
Quoting dantpm
{quote} The US data supported the economy getting stronger and supports the notion that the FED is on track, nothing suggests changes in rates so the forex impact should be nil, instead we have the USD rallying.
Some news are saying the rallying in usd is because of US02Y going up.
Since debt ceiling solution is not yet properly addressed, therefore people dumping short term bonds to go in usd - safe havens
More time in the market, does not mean you trade better!
  • #747,596
  • May 25, 2023 8:29am May 25, 2023 8:29am
I’m long again at 1.2358 target 1.2380
  • #747,597
  • May 25, 2023 8:31am May 25, 2023 8:31am
Quoting navk
I do think ( may be ) a buy here just above 2335.
booked at 2360
Intraday only.
  • #747,598
  • May 25, 2023 8:33am May 25, 2023 8:33am
Quoting Elysion
I have started to grown onto liking H4 timeframe. Should I continue using it? But scalping using H4 seems like a disaster. Swing should better? Or a combination of both.

Scalping on one time frame translates to a swing trade on another. The same patterns you trade and scalp on the 5 through 30 minute charts if traded on the monthly would be considered swing trades. So basically we are all scalpers lol
Don't compare your trades to others. Most often the masses are the asses
  • #747,599
  • May 25, 2023 8:33am May 25, 2023 8:33am
Quoting Fardeen1209
{quote} Some news are saying the rallying in usd is because of US02Y going up. Since debt ceiling solution is not yet properly addressed, therefore people dumping short term bonds to go in usd - safe havens
I don't understand how that relationship works. I could see people selling US debt and $ to buy gold but gold is falling.
  • #747,600
  • May 25, 2023 8:36am May 25, 2023 8:36am
Quoting Pat Chiko
{quote} GU News Trades Add position Cash out some. Let the balance run to whereever she want to go..{image}
GU

Last two stop to go.

Common GU ... gimme on spike....
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
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