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Cable Update (GBPUSD)

  • #748,081
  • May 29, 2023 2:28am May 29, 2023 2:28am
There's still substantial moves despite banks holidays.
I'm going with a daily bearish bias, however I might stop trading if things doesn't go my way since Monday hasnt been good trading days for me.
Exhausted
  • #748,082
  • May 29, 2023 2:28am May 29, 2023 2:28am
Quoting Fardeen1209
{quote} By theory, yes. But this applied to big traders trading heavy size. The thing idk yet is how big do they consider an order sizeable While the big order entered at market order will search the counter orders on the order book untill it get filled. But from what i understood, these big orders entered/exit the market using the limit orders. The time they do something at market orders is on red economic data news
Liquidity is thinnest at red economic news, thats why you see so massive movements cause everyone but a few stays away from the market. The limit orders will move away at those times to off set risk, thus market orders will move the market,limit orders will stop the movement and aid in reversing it. Then the algos will kick in and move closer to the market.
You have an IQ lower than 90 if you interact with this user.
  • #748,083
  • May 29, 2023 2:29am May 29, 2023 2:29am
Quoting MrFanciful
Doesn't look like it's going to stop. When the US is not able to take on more debt, dollar goes up. When they agree an unlimited debt ceiling, dollar goes up.
The FED will take whatever it has to pump up dollar for sure. At least up to this quarter.
Exhausted
  • #748,084
  • Edited 3:25am May 29, 2023 2:37am | Edited 3:25am
Quoting Ferna
{quote} Finland, Italy, Spain, Australia, and some other countries.
Australia isn't in Europe according to any map that I have ever seen.
Not sure that Finland, Italy and Spain support significant Forex trading.
Here are the major markets:
https://market24hclock.com
  • #748,085
  • May 29, 2023 2:46am May 29, 2023 2:46am
Quoting Elysion
{quote} The FED will take whatever it has to pump up dollar for sure. At least up to this quarter.

Why would the FED want a strong dollar? That puts inflationary pressure on the US economy?

The US gov't supporting raising the debt ceiling should weaker the US peso! Since it is a reserve currency for Europe, Canada, Australia, the UK and so on, all of these currencies should also be weakened. This is why it is a little surprising that gold is falling.

I would expect BRIC currencies (possibly except Russia) to be rising.
  • #748,086
  • May 29, 2023 2:49am May 29, 2023 2:49am
Quoting BrainBucks
{quote} Hey buddy so I was thinking to seek and take your specific advise today... Would you encourage trading today or staying out until tomorrow, please?
I have been sitting on my hands so far watching the breadth of the swing trying to digest the US raising the debt ceiling. I may trade, haven't decided yet.

Georginson might be a better barometer than me today
  • #748,087
  • May 29, 2023 2:51am May 29, 2023 2:51am
Quoting ninner
Waveskiknob has left the building!!!!!LOL
nope still here....
  • #748,088
  • May 29, 2023 2:53am May 29, 2023 2:53am
Quoting dantpm
{quote} Why would the FED want a strong dollar? That puts inflationary pressure on the US economy? The US gov't supporting raising the debt ceiling should weaker the US peso! Since it is a reserve currency for Europe, Canada, Australia, the UK and so on, all of these currencies should also be weakened. This is why it is a little surprising that gold is falling. I would expect BRIC currencies (possibly except Russia) to be rising.
I believe the Ruble was the strongest performer of 2022
  • #748,089
  • May 29, 2023 2:54am May 29, 2023 2:54am
Still downtrend , let's go to bearish liquidity level
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yes yes yes
  • #748,090
  • May 29, 2023 2:59am May 29, 2023 2:59am
Quoting Elysion
There's still substantial moves despite banks holidays. I'm going with a daily bearish bias, however I might stop trading if things doesn't go my way since Monday hasnt been good trading days for me.
Monday was equally unkind to me, and I've already lost $100.
Just follow the trend.
  • #748,091
  • May 29, 2023 2:59am May 29, 2023 2:59am
UK Bank Holiday, US Bank Holiday.. so who is driving the market now? ghost? lol
https://breakpullback.com
  • #748,092
  • May 29, 2023 3:01am May 29, 2023 3:01am
Quoting MrFanciful
{quote} I believe the Ruble was the strongest performer of 2022
I believe you are right but not so much this year so far.
  • #748,093
  • May 29, 2023 3:03am May 29, 2023 3:03am
Quoting eyefeelsix
UK Bank Holiday, US Bank Holiday.. so who is driving the market now? ghost? lol
Is it just central bank holidays or all bank holidays?
More time in the market, does not mean you trade better!
  • #748,094
  • May 29, 2023 3:06am May 29, 2023 3:06am
Quoting eyefeelsix
UK Bank Holiday, US Bank Holiday.. so who is driving the market now? ghost? lol

AI trading computers. Central bank and major financial institutions would have placed standing orders last week that would last until full trading resumes tomorrow.
  • #748,095
  • May 29, 2023 3:09am May 29, 2023 3:09am
Quoting Moty
Still downtrend , let's go to bearish liquidity level {image}
copied your short above and TP some in trendline
and closed some because of FOMO
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10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #748,096
  • May 29, 2023 3:12am May 29, 2023 3:12am
Quoting eyefeelsix
UK Bank Holiday, US Bank Holiday.. so who is driving the market now? ghost? lol
i think maybe market orders. Or cash settlements done in boutiques.
You have an IQ lower than 90 if you interact with this user.
  • #748,097
  • May 29, 2023 3:14am May 29, 2023 3:14am
Quoting eyefeelsix
UK Bank Holiday, US Bank Holiday.. so who is driving the market now? ghost? lol
buyers & sellers
  • #748,098
  • May 29, 2023 3:15am May 29, 2023 3:15am
GU: It rose too much and fell sharply at the entrance to London, but the bottom price was firm, so I went long.

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  • #748,099
  • May 29, 2023 3:29am May 29, 2023 3:29am
Quoting sakimer
GU: It rose too much and fell sharply at the entrance to London, but the bottom price was firm, so I went long. {image}
I went long too, but i might close soon since im just scalping a few pips.
Currently dont have a proper directional bias since
Asian went high while Frankfurt dumped pound.
Now we might get stuck in a range till NY.
Exhausted
  • #748,100
  • May 29, 2023 3:31am May 29, 2023 3:31am
Quoting sakimer
GU: It rose too much and fell sharply at the entrance to London, but the bottom price was firm, so I went long. {image}
alot of eel pie is proably being ordered right now so GU will undoubtely rise until breakfeast is over, then settle until lunch begins.
i bought some bacon & eggs myself alomg with some GU.
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