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Cable Update (GBPUSD)

  • #752,221
  • Jun 15, 2023 4:06pm Jun 15, 2023 4:06pm
Quoting Rmg
Cable broke a significant level and in a bull trend. It doesn't matter what fundamentals says, I am only buying as long as session lows are held.

I believe that one of the main reasons are dollar weakness rather than a dollar strength. Look at DXY and look also at stock market indexes like S&P. There’s a massive pumping in stocks and dollar sell off. However I don’t think this is gonna last long. Crash is around the corner. It’s just a matter of time. If during crash we will see dollar appreciation, pound will fall dramatically. There’s nothing good about pound these days and UKs economy is absolutely nowhere near recovering. Look at gilts. We are at the same levels as October lows.
  • #752,222
  • Jun 15, 2023 4:58pm Jun 15, 2023 4:58pm
Quoting Georginson
{quote} This is playing out as indicated here... Expect at least 190 pips retracement before further fuel to 1.2777 - 1.2880.
How often these kind of days occur in a year?
  • #752,223
  • Jun 15, 2023 4:58pm Jun 15, 2023 4:58pm
Investing 100$ in Btc 0.01 no sl tp 100000
MY OPINION NOT FINANCIAL ADVISE
  • #752,224
  • Jun 15, 2023 5:06pm Jun 15, 2023 5:06pm
Quoting kk300
{quote} How often these kind of days occur in a year?

it’s normal in every 3 months 500- 750 pips range
MY OPINION NOT FINANCIAL ADVISE
  • #752,225
  • Jun 15, 2023 5:26pm Jun 15, 2023 5:26pm
Quoting cycletrade
{quote} I believe that one of the main reasons are dollar weakness rather than a dollar strength. Look at DXY and look also at stock market indexes like S&P. There’s a massive pumping in stocks and dollar sell off. However I don’t think this is gonna last long. Crash is around the corner. It’s just a matter of time. If during crash we will see dollar appreciation, pound will fall dramatically. There’s nothing good about pound these days and UKs economy is absolutely nowhere near recovering. Look at gilts. We are at the same levels as October lows....
I thought we are talking about day trading cable.
Ain't interested in crash whatsoever but easier to make profits in a falling markets. That's why most are here looking to short rather than understanding what PA tells us.

Bias is a killer, it takes a while to sink in.
Good luck new(!!) member..
on a postive roll...
  • #752,226
  • Jun 15, 2023 5:30pm Jun 15, 2023 5:30pm
Quoting Jolita
Weekly 100pips in excess, EMA200 12805. Monthly chart has so much space upwards, trend line meeting EM 100, 134-ish I don't buy this bull move, something odd, who is buying GBP?
it is very strange, UK has only avoid recession by words. A continuous rise in rates will bring catastrophic economic losses. House foreclosures will rise all this and when labour wins the next election they will have a hole so big to fill. This feels like a Tory ploy to make leave the country in such a state that 4/5 years of opposition have no chance.

If we look at the raw data, UK rates increasing , cost of living going through the roof with inflation not coming down

labor market is looking stagnated, salaries are going up to keep up with cost of living.

It’s a bubble that when burst will be hard to reverse.

Insane in the Brain..
  • #752,227
  • Jun 15, 2023 5:41pm Jun 15, 2023 5:41pm
Been reading the posts here, most are very valuable for my own trading. Learned so many things but the 3 important things I learned, which I always need to be mindful regarding technicals:

1. Structure (the context: going up, down or sideways)
2. Location (where you put your trade either your long or short)
3. Price Action (what the price is doing in the marked location)

Structure is sometimes easy to spot but oftentimes its confusing but with practice and experience, it will be a lot easier. It should guide you or set your bias if youre going to be long, short, or should be not trading for the time being.

Location is where I failed in my trading in the past, coupled with impatience and lack of discipline. I know where I should put my trade based on my rules but the 2 traits mentioned is hindering me from being profitable. I put trades that are out of my desired "location". Sometimes out of impulse as well, I buy when I should be selling or sell when I should be buying. Now I know better. Wait for the price to reach your desired location then be patient, see first what price is doing in there before you put that trade either you intend to buy or sell.

Now, with what price is doing or have done in the marked location is something to be masterful as well, this is actually the patterns and candle formations most learning sites are teaching. Just have the patience for the right candle formation to emerge before you hit that buy or sell button.

So I found that Im more profitable, or avoid big losses if Im mindful of the 3 things mentioned, combining that with patience and discipline. Of course, Im also aware of the sentiment and the news and factored that in my trading all th time.

With that, thanks a lot to all those who allocated time posting their insights and trades thayve taken. Learned a lot from you guys. Kudos!
Fortune favors the brave.
  • #752,228
  • Jun 15, 2023 6:08pm Jun 15, 2023 6:08pm
the price going to 2800 first
Intraday only.
  • #752,229
  • Jun 15, 2023 6:19pm Jun 15, 2023 6:19pm
Quoting Jolita
{quote} US doing good job compared. Ok, no rate rise this time, we should not expect every month, investors disappointed, stocks continue to rise. DX lower, fine, long overdue. UK rate increase for a reason - economy in a mess and "let's not talk about it". Government members beeing investigated, arrested, MP with an ego issue, so on... Big money move the markets is a fact.
the thing is how price moved lately, there is less pullbacks, and the momentum continues even after london close. Feels more that the human component of price movement is disappearimg and that the robots/a.i taken over.

price stability is bad for a daytrader, volatility is needed.
You have an IQ lower than 90 if you interact with this user.
  • #752,230
  • Jun 15, 2023 6:46pm Jun 15, 2023 6:46pm
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yes yes yes
  • #752,231
  • Jun 15, 2023 6:49pm Jun 15, 2023 6:49pm
Quoting BeeTogether
{quote} it is very strange, UK has only avoid recession by words. A continuous rise in rates will bring catastrophic economic losses. House foreclosures will rise all this and when labour wins the next election they will have a hole so big to fill. This feels like a Tory ploy to make leave the country in such a state that 4/5 years of opposition have no chance. If we look at the raw data, UK rates increasing , cost of living going through the roof with inflation not coming down labor market is looking stagnated, salaries are going up to keep up...
Exactly! Inflation 8.7%, wage growth 7.2% , not sure who's wages grown, probably private sector and hourly employees are getting £0.80 pay rate rise after tax, a joke.
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  • #752,232
  • Jun 15, 2023 6:57pm Jun 15, 2023 6:57pm
Quoting Ferna
{quote} the thing is how price moved lately, there is less pullbacks, and the momentum continues even after london close. Feels more that the human component of price movement is disappearimg and that the robots/a.i taken over. price stability is bad for a daytrader, volatility is needed.
Market disbelieve in Powell's bluffing and loves higher interest rates.

We will find out later next week who is bluffing or saving the sinking boat from drowning.
  • #752,233
  • Jun 15, 2023 7:22pm Jun 15, 2023 7:22pm
Quoting Jolita
{quote} Market disbelieve in Powell's bluffing and loves higher interest rates. We will find out later next week who is bluffing or saving the sinking boat from drowning.
PERIODT!
that's the point i don't understand, i startet selling GBP much earlier, OFC im huge in minus $ but im not angry, im just confused and proud at the same time that i dont moved my strategy and didnt quit my logical thinking in trading!

what we see here isnt normal, Dollar looks ways better than pound and thats in all ways, i spend the whole night to check some data and its unbelivable how GBP can be bullish.

it never happend to me before but since yesterday im scared to enter a trade, really… because what happend the last few days are pure scam
  • #752,234
  • Jun 15, 2023 7:29pm Jun 15, 2023 7:29pm
short 1.2788 sl 1.2905 tp open
being busy yesterday so cant trade after news
  • #752,235
  • Jun 15, 2023 7:31pm Jun 15, 2023 7:31pm
Quoting kk300
{quote} How often these kind of days occur in a year?
This usually occurs in the last month of each quarter.. aggressive moves...
Data + Stat + Risk/Emotions Management
  • #752,236
  • Jun 15, 2023 7:41pm Jun 15, 2023 7:41pm
Quoting Georginson
{quote} This usually occurs in the last month of each quarter.. aggressive moves...
Are you short term short?
  • #752,237
  • Jun 15, 2023 7:43pm Jun 15, 2023 7:43pm
Monthly, there is a doji star bearish. Down move will begin anytime.
  • #752,238
  • Jun 15, 2023 7:44pm Jun 15, 2023 7:44pm
Quoting voeltoez
short 1.2788 sl 1.2905 tp open being busy yesterday so cant trade after news
what a coicidence... I too took short at this place. !
Intraday only.
  • #752,239
  • Jun 15, 2023 7:58pm Jun 15, 2023 7:58pm
taking profits my little pororo account
+230 cable +170 eu
now longterm short with 300p target
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  • #752,240
  • Jun 15, 2023 8:23pm Jun 15, 2023 8:23pm
Today is Friday. Usually Friday is crazy day. Market might hit daily OB at 1.30 or drop to 1.262 daily FVG zone.
With courage, patience, and discipline, success is a matter of time.
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