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Cable Update (GBPUSD)

  • #749,461
  • Jun 5, 2023 12:05am Jun 5, 2023 12:05am
I think we’ve re-entered the “The only asset to buy is the dollar” again with the Us Treasury selling $170bil of T-Bills today
  • #749,462
  • Jun 5, 2023 12:15am Jun 5, 2023 12:15am
I think eventually the world will realise that a promise to repay by the US government isn't worth anything. Or any Western government for that matter.
  • #749,463
  • Jun 5, 2023 12:23am Jun 5, 2023 12:23am
Quoting ManAtArm
Hey everyone, I'm still new to this game. I've been using a Demo account for 2 months, but some of my friends suggested using a cent account so I can feel the emotions and pressure. and indeed I'm starting to feel like it. any suggestions for me? I'm trying some new things (in my opinion) like using this. it's just that (like other beginners) I still don't understand when I enter. {image}
welcome to the jungle...
  • #749,464
  • Jun 5, 2023 12:58am Jun 5, 2023 12:58am
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yes yes yes
  • #749,465
  • Jun 5, 2023 1:14am Jun 5, 2023 1:14am
Quoting Bogdanoff
Try short @2435 +- 10 pips Cheers
closed 15 pips
Wait for LO
Cheers
my loss is your gain
  • #749,466
  • Jun 5, 2023 1:16am Jun 5, 2023 1:16am
1.2410 area might give a buy in the next 30 mins or so
  • #749,467
  • Jun 5, 2023 1:21am Jun 5, 2023 1:21am
Long 1.2416 Tp 1.2470 SL 1.2380...
Its too quick for m30..muat be reversal soon
  • #749,468
  • Jun 5, 2023 1:22am Jun 5, 2023 1:22am
Problem I have is that all I hear from the likes of Peter Schiff, George Gammon, Mike Malloney, Alastair Macleod etc, is that the dollar is devaluing, central banks and governments are moving away from the dollar and dumping US Treasuries, the end of its role as the WRC, and I just can't brining myself to buy the dollar despite me saying to my GF yesterday that the US Treasury set to issue $1 trillion of new debt this month, the dollar will probably go up...

I just can't click that buy on the dollar

If the dollar is devaluing, I can understand it going up against GBP simply because the GBP could be devaluing at a faster rate and it probably is. But against gold?
  • #749,469
  • Jun 5, 2023 1:28am Jun 5, 2023 1:28am
Pre-Trading Analysis : GBPUSD
Date : 05.06.2023
GMT Time :06:16 AM

Trend Change Trigger : NULL
Current Trend 4Hrs : Down Trend
Daily Pivot : 1.24770
Yesterday's High : 1.25442
Yesterday's Low : 1.24410

An area of resistance has formed at yesterday's high 1.25442 as traders for whatever reason, determined that swing high is a good value. My Principles of Trend Direction states we are in down trend and require to hold below 1.24435 lvl by Bears. Daily Pivot is at 1.24770. On the Upside a break above said resistance ( 1.24435 ) could re-challange Pivot Point.

Bella's GMT Switch will allow me to take trade between 10:30 – 11:00 AM GMT . In the meantime i made some analysis and waiting for Market Participants to provide me clues about future trend direction.

Bella's Trend Trigger v1.0
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Bella's GMT Switch v1.1
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Goddess of Thunder..
  • #749,470
  • Jun 5, 2023 1:32am Jun 5, 2023 1:32am
Quoting MrFanciful
Problem I have is that all I hear from the likes of Peter Schiff, George Gammon, Mike Malloney, Alastair Macleod etc, is that the dollar is devaluing, central banks and governments are moving away from the dollar and dumping US Treasuries, the end of its role as the WRC, and I just can't brining myself to buy the dollar despite me saying to my GF yesterday that the US Treasury set to issue $1 trillion of new debt this month, the dollar will probably go up... I just can't click that buy on the dollar If the dollar is devaluing, I can understand it...
i can almost guarantee you it will touch 100 in q3, i think this is a technical move to take out stops above weekly swing high so i reckon 106 first

also if people are dumping treasuries then this makes the yields go up and the dollar look relatively more attractive, no ?


edit- also starting to scale in buys on GU 1.2413 for 50 pip target
  • #749,471
  • Jun 5, 2023 1:37am Jun 5, 2023 1:37am
There is a thick wall below, but I made an H1 wall (blue) and lowered it, so it is short.
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  • #749,472
  • Jun 5, 2023 1:39am Jun 5, 2023 1:39am
as entered demand fresh , there likely a reaction up with or with 2400 before targeting better support , below 2348 and correction at or above 2400 can be 2449 to 2458 + towards 2484 limit , signal up can be 2425 and breakout 2437. take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #749,473
  • Jun 5, 2023 1:40am Jun 5, 2023 1:40am
Bias is still long for now, waiting for confirmation to buy. If the next high remains below 15m 200MA, I will switch my bias to sell.
  • #749,474
  • Jun 5, 2023 1:43am Jun 5, 2023 1:43am
Quoting mysterio
{quote}i can almost guarantee you it will touch 100 in q3, i think this is a technical move to take out stops above weekly swing high so i reckon 106 first also if people are dumping treasuries then this makes the yields go up and the dollar look relatively more attractive, no ? edit- also starting to scale in buys on GU 1.2413 for 50 pip target
It could do...Commentary I've been watching this weekend suggests that the effect of the Treasury issuing $1 trillion in new bonds will have the effect of sucking those dollars out of the market, as they go to the TGA. That could put upward pressure on the dollar as there are fewer dollars to satisfy demand, however it could also mean the dollar going down as people want to hold the Treasuries rather than the dollar.

I find that no matter what, you can always come up with a rational for an asset, especially currencies, to go up and down off the back of the same dataset.
  • #749,475
  • Jun 5, 2023 1:47am Jun 5, 2023 1:47am
Quoting Pat Chiko
{quote} Good signal Bro. {quote} GU Taken as Copied N3. Credit to the person who made the call.{image}
GU

Scalping SHORT continue from copied trade signal earlier.
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Dollah Indez

RSF support HODL.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #749,476
  • Jun 5, 2023 1:50am Jun 5, 2023 1:50am
GU long 2413, will add more
People don't plan to lose. They lose because they don't plan.
  • #749,477
  • Jun 5, 2023 1:57am Jun 5, 2023 1:57am
Quoting ScalaFX
GU long 2413, will add more
nice call perfect entery
  • #749,478
  • Jun 5, 2023 2:02am Jun 5, 2023 2:02am
Taking profit didn’t drop below 124
Insane in the Brain..
  • #749,479
  • Jun 5, 2023 2:02am Jun 5, 2023 2:02am
Long 12410, SL 12400, TP 12480.
  • #749,480
  • Jun 5, 2023 2:03am Jun 5, 2023 2:03am
Quoting epzero
{quote} nice call perfect entery
No that good like Pat short price can deep more, must wait for some more bulls
People don't plan to lose. They lose because they don't plan.
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