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Cable Update (GBPUSD)

  • #751,461
  • Jun 14, 2023 3:30am Jun 14, 2023 3:30am
Quoting ScalaFX
{quote} closing all, price waiting for data, Im opening short here 2572, we can see shoot up for LQ so have pendings every 10 pip till 2630, targeting 2450 first
all active, I wanna see some ride down, risking one doubled lot position from 2630 too, lets see..
People don't plan to lose. They lose because they don't plan.
  • #751,462
  • Jun 14, 2023 3:32am Jun 14, 2023 3:32am
Quoting lucaswalliam
{quote} Yes. Yesterday's CPI data solidified the Fed's confidence in stopping rate hikes. Is it really going to stop the hiking cycle, then wait and finally cut rates? Please forgive me, I know nothing about fundamental analysis.
There are so many variables in that determination. No least are the recent/ this mth's CPI's etc a 'flash in the pan' or are inflationary pressures really on a downward trajectory? How sticky will inflation prove,? and what effect on other metrics associated with the economy,? etc etc etc...We'll have to wait and see as we go into an election cycle in the U.s with primaries ...(always seems to be on the verge of or in an election cycle over there lol!)
Trader with an Edge.
  • #751,463
  • Jun 14, 2023 3:34am Jun 14, 2023 3:34am
Quoting lucaswalliam
{quote} Yes. Yesterday's CPI data solidified the Fed's confidence in stopping rate hikes. Is it really going to stop the hiking cycle, then wait and finally cut rates? Please forgive me, I know nothing about fundamental analysis.
The problem is that it has to reverse. The inflation has to be lower than normal, than the rate are too high. We just saw a stop. But yes, the FED will probably leave it unchanged. In current behaviour that would mean a lower dollar, so GBP/USD up but on the other side it's good for economy so it USD should go up. Since march 8th (i don't know why) strong datas from US means USD up (also price inflation) and weak datas means USD down. Before it was the opposite.

The problem with news interpretation is that sometimes good numbers can be bad or vice versa.

Here a possible scenario for today: CPI Datas confirm price stability, Fed announces NO rate hike, dollar goes down. Than Fed says: We could imagine on continuation like that to lower rates end of year. ->USD would soar up (->GBP/USD down).

It's just a matter of time until news interpretation changes again.
  • #751,464
  • Jun 14, 2023 3:46am Jun 14, 2023 3:46am
Entering short at current price.
SL 1.264
TP 1 1.257
TP 2 1.254
TP 3 1.25 and below

This is not a signal. :<
Exhausted
  • #751,465
  • Jun 14, 2023 3:57am Jun 14, 2023 3:57am
Quoting TheForexDen
Grabbed a long at 1.2608 but I've moved to BE as I have a sneaky feeling this is going to test the DL and make an attempt on 1.2572 area.

Moved to +15, target 1.2643.
  • #751,466
  • Jun 14, 2023 3:57am Jun 14, 2023 3:57am
sold 1.2635 sl 1.2665
m5 need to reversal now..just overbought
tp 1.2600
  • #751,467
  • Jun 14, 2023 4:01am Jun 14, 2023 4:01am
...price @ current dly hi testing bottom of that prev 1hr/minor 4hr sw hi zone to 2640...this inside the dly part of the prev dly/4hr/1hr sw hi zone to current yrly hi - 2679. Mthly R1 @/around 2644, then Wkly R1/Dly R1 in the high 2650's.
Trader with an Edge.
  • #751,468
  • Jun 14, 2023 4:01am Jun 14, 2023 4:01am
Quoting lucaswalliam
{quote} Yes. Yesterday's CPI data solidified the Fed's confidence in stopping rate hikes. Is it really going to stop the hiking cycle, then wait and finally cut rates? Please forgive me, I know nothing about fundamental analysis.
Well was reading something about difference between "pause" and "skip".
Pause meaning no more rate hike.
Skip meaning no rate hike this FOMC but it can come at next FOMC if next cpi decides to go up.

Skip was introduced last month by FOMC voting members because of core CPI
More time in the market, does not mean you trade better!
  • #751,469
  • Jun 14, 2023 4:02am Jun 14, 2023 4:02am
Hmm I should've waited for 1.264 for a better sell.
Oh well.
Exhausted
  • #751,470
  • Jun 14, 2023 4:02am Jun 14, 2023 4:02am
They are currently stop hunting to the upside...old game again. Too many retailers short already. 1.2625-1.2630 looks like support now, lots of buy orders. But in last days(not the last day, before they used it the opposite around to suck people into longs.

Very brave to push GBP/USD up so much before news today.
  • #751,471
  • Jun 14, 2023 4:05am Jun 14, 2023 4:05am
the current 4 hr resistance also broke.

No short.

stopped out.

r1 is the target minimum 2650
Intraday only.
  • #751,472
  • Jun 14, 2023 4:06am Jun 14, 2023 4:06am
Quoting JackintheBox
They are currently stop hunting to the upside...old game again. Too many retailers short already. 1.2625-1.2630 looks like support now, lots of buy orders. But in last days(not the last day, before they used it the opposite around to suck people into longs. Very brave to push GBP/USD up so much before news today.
Stop hunting doesn't exist. What makes you think this? Most retailers trade contrary to the trend, it isn't exclusive to this movement.
  • #751,473
  • Jun 14, 2023 4:07am Jun 14, 2023 4:07am
Just sold GU 1.2638 , first tp 1.2600 second tp 1.2555 after a closer look on possible reversal i think it will hold the zone on weekly TF
  • #751,474
  • Jun 14, 2023 4:07am Jun 14, 2023 4:07am
Quoting Scotteyy
{quote} Stop hunting doesn't exist. What makes you think this? Most retailers trade contrary to the trend, it isn't exclusive to this movement.
its liquidity hunting really, all the buy and sell stops
Watching & Learning
  • #751,475
  • Jun 14, 2023 4:09am Jun 14, 2023 4:09am
My system shows good entries but my patience is the one that's killing me by entering too early.
I need psychological help
Exhausted
  • #751,476
  • Jun 14, 2023 4:09am Jun 14, 2023 4:09am
Quoting dazw6000
{quote} its liquidity hunting really, all the buy and sell stops
Does that mean guru will drop later
average dude treading water
  • #751,477
  • Jun 14, 2023 4:10am Jun 14, 2023 4:10am
Quoting Elysion
My system shows good entries but my patience is the one that's killing me by entering too early. I need psychological help
Patience or FOMO
average dude treading water
  • #751,478
  • Jun 14, 2023 4:13am Jun 14, 2023 4:13am
Its been a couple of years since i posted on FF and it still it amazes me how many people try to trade against higher TF orderflow and liquidity…

Like do you really think it will reverse while there is alot if liquidity at the 1.26800 level? My guess and tp is 1.26800 before we likely will see a pullback.
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Was slipping off the edge but i held up.
  • #751,479
  • Jun 14, 2023 4:13am Jun 14, 2023 4:13am
Quoting Scotteyy
{quote} Stop hunting doesn't exist. What makes you think this? Most retailers trade contrary to the trend, it isn't exclusive to this movement.
I have stats to that. for example from dailyfx.com, ->retailers short over 63%, means pros hunt for their stops... cheers
  • #751,480
  • Jun 14, 2023 4:14am Jun 14, 2023 4:14am
Quoting Elysion
My system shows good entries but my patience is the one that's killing me by entering too early. I need psychological help
They try to get you confused by different Price Action. That's one main reason why you get irritated. In the End they have to buy or sell back anyway but sometimes they really try to p*ss you
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