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Cable Update (GBPUSD)

  • #752,681
  • Jun 17, 2023 7:30am Jun 17, 2023 7:30am
Quoting BigNumbers
{quote} Nothing exist on its own… it is going to be silly to think there is no system designed by people to control, process and manage the world trade data. The system collects all the data and balances it in order to keep the forex, future, crypto market running. As a trader you need to understand how the system processes these datas to balance the trillions of trades daily. One of the ways to know how the system processes data is Liquidity. The system can not deliver to you what is not available. I personally like PAT’s illustration on liquidity...
hmm hard to understand what you are saying to be honest. Do you think someone will leave their orders on 2 months old high or low?

News? You understand that in FX news are probably 2-3 months if not even more behind the actual trend?
How to succeed in zero sum game?
  • #752,682
  • Jun 17, 2023 7:35am Jun 17, 2023 7:35am
Thank you all for your answers! Hopefully we all learned something.

have a great weekend!
How to succeed in zero sum game?
  • #752,683
  • Jun 17, 2023 8:30am Jun 17, 2023 8:30am
Can’t seem to see a significant drop next week.
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Insane in the Brain..
  • #752,684
  • Jun 17, 2023 10:13am Jun 17, 2023 10:13am
Quoting BeeTogether
Can’t seem to see a significant drop next week. {image}
looks so , waves fit ( ultimately fit at the end though ) within or not crazy extension after extension may continue for any highs !
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #752,685
  • Jun 17, 2023 11:00am Jun 17, 2023 11:00am
Quoting BeeTogether
Can’t seem to see a significant drop next week. {image}
anything can happan in the markets. its at a resistance area but strong uptrend so would at least like to see the hourly really fall apart to go short.
  • #752,686
  • Jun 17, 2023 11:37am Jun 17, 2023 11:37am
Thanks, Pat. Great lesson.
This reminds me of another lesson I read by Anna Coulling:

"One day after a particularly spectacular trading debacle, my Uncle Joe took me aside and consoled me with some hard facts about how the stock market works. You see, Uncle Joe owns a very unique company and has an insider's perspective on how stock price movement is managed.

His company, Widgets & Co., is the only company in the States that distributes widgets, and it does so under license from the government. It has been buying and selling its unique widgets for many years..."
https://www.trade2win.com/threads/th...y-works.26806/


Quoting Pat Chiko
... Story about liquidity. Once upon a time in a village, a man appeared and announced to the villagers that he would buy monkeys for $10 each...
Funded trader
  • #752,687
  • Jun 17, 2023 11:50am Jun 17, 2023 11:50am
Most of those bars in the data are 0.5% or more; we are likely to see at least that number.
If we already printed 2.5% this year, you can see why it's hard to go to target quickly.
To go to 2.0% over the next year you need to see negative reads for a mathematical fact.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #752,688
  • Edited 2:23pm Jun 17, 2023 1:38pm | Edited 2:23pm
If I speculate, it just seems like there's a fight going on the buyers and sellers in cable. New buyers coming in and sellers trying to push them out. Long wicks and alot of doji's showing on the 4H TF, this week will be a bumpy ride but seems bullish. I don't see any reason why the pound should not continue pushing to newer highs. "Dictators" in US are positive about US economy but GBP says otherwise.

Thats all, I'll see you guys Monday.
  • #752,689
  • Jun 17, 2023 3:13pm Jun 17, 2023 3:13pm
Quoting OperaniyiFx
{quote} the fact remains GBPUSD will sell at least 80pips on Monday.
Now that is what I call Man Talking

You are talking

Its a high possibility

Here is my trades

Target could be revised upwards or lower anytime to Take More Profit Or Real Small Profit Anytime. Currently its this 1.27300

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Actually it is at Monthly Resistance Too

Although I dont see this mostly I just follow my plan but this time I had this loaded on Chart

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Alright See you for now
HBS - Hussain Bin Salman
  • #752,690
  • Edited 4:21am Jun 18, 2023 4:01am | Edited 4:21am
Week : Gu touched fibo 61.8


gu < 1.250xx

gu < 1.24336

---------------------------------------
sell gu

tp1 = 1.25111 ok.
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  • #752,691
  • Jun 18, 2023 4:37am Jun 18, 2023 4:37am
Quoting Tpttonly
{quote}

Bro. You should use FIBO LEVEL.

R & S : You're very tired to buy or sell.

Example : Fibo 100 & Fibo 400 Level.
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  • #752,692
  • Jun 18, 2023 5:05am Jun 18, 2023 5:05am
Quoting OperaniyiFx
{quote} the fact remains GBPUSD will sell at least 80pips on Monday.
1.2750 - 1.2680 (extended) is a realistic target.

The following sequence may not be ruled out...
1.2720 - 1.2977
1.2977 - 1.2827
1.2827 - 1.3166 (maximum this June)
1.3166 - 1.2445 (July)

Bears should not rule out 1.3166 this June, the market makers may get more brutal.
Data + Stat + Risk/Emotions Management
  • #752,693
  • Jun 18, 2023 5:13am Jun 18, 2023 5:13am
Maybe we'll have another week where we can: Buy! Buy! BUY!
You have an IQ lower than 90 if you interact with this user.
  • #752,694
  • Jun 18, 2023 5:20am Jun 18, 2023 5:20am
There is no "Resistance" until 1.30 on GBP/USD. This is where last Sell stopped. It's not that hard. Always look on the left side of the Chart and look where the last Sell ended if price is in an uptrend and vice versa. Whether price will break through the last point where last Sell ended depends on fundamentals and client sentiment.

What I mean by "Resistance" is that there are no huge amount of orders sitting anywhere between current price and 1.30, so there is no special need from banks to manipulate this in-between area.
  • #752,695
  • Edited 5:52am Jun 18, 2023 5:30am | Edited 5:52am
Quoting dempire1
{quote} I have a question. Where does this word liquidity comes from and what does it mean? Explain it to a 5 year old.
Liquidity in the strictest sense of the word- means the number of limit orders each side of the bid offer spread.
If there is a lot - this means its a thick market (and vice versa) for thin.

Thick markets would be something like bonds (typically the 10 year note) and the Euro -
Thin ones are things like - Oil and Gold and EM currencies.
Also the bid/offer spread are a lot wider in thin markets.

The further away you go from the bid/offer the lower the number of limit orders- until there is none. However, sometimes people will put limit orders at key levels. There is certain software where you can see liquidity in the futures markets (Bookmap, Sierra Charts Ninjatrader etc...)

During bank holidays/Asian session or if there is a major data release - certain market makers (banks) will pull their limit orders from the book - thus making the market thinner and so widening widening the bid/offer spreads
Look ahead, Macro=Direction, Levels &amp; Structure = Entry
  • #752,696
  • Jun 18, 2023 5:37am Jun 18, 2023 5:37am
Quoting Georginson
{quote} 1.2750 - 1.2680 (extended) is a realistic target. The following sequence may not be ruled out... 1.2720 - 1.2977 1.2977 - 1.2827 1.2827 - 1.3166 (maximum this June) 1.3166 - 1.2445 (July) Bears should not rule out 1.3166 this June, the market makers may get more brutal.
1.263-8 could be "Retested" to take some sitting Sell Orders out once more after price continues it's uptrend and of course scare Buyers out who bought breakthrough. Below that it is highly unlikely price will go. 1.30 is next after which we'll see...

I am Buying if price rolls back to 1.263-8. SL under 1.26 and TP 1.30.

Thanks for projections!
  • #752,697
  • Jun 18, 2023 5:39am Jun 18, 2023 5:39am
DXY (MY VIEW)
MONTHLY - BULLISH
WEEKLY- SLIGHTLY BULLISH
DAILY - BEARISH
DXY 2 POSSIBILITIES
MOST PROBABILY IT CAN GO FOR A 3RD WAVE MAKING THE WEEK BULLISH
BUT THERE IS SECOND PROBABILITY ALSO
MONTHLY FVG RESTING BOTH UP AND DOWN SIDE
TUESDAY WILL MAKE THE HIGH OR LOW OF WEEK MOST PROBABLY
TILL THEN I WILL BE BULLISH
THEN ON TUESDAY WILL DECIDE WHAT’S THE NEXT MOVE
BUT MORE CHANCES ARE IT CAN TEST THE BREAKER AND THEN MOVE DOWN (IF IT WANTS TO)
BUT THE
The MPC is expected to raise the Bank rate by 25 basis points on Thursday.

  1. The MPC may point to the lag effect of its existing policy tightening and the risks to the housing market as reasons for the 25 basis point hike.
  2. Even if the BoE gives little away about its intentions at future meetings, sterling could benefit from a broadly positive set of data.

BEFORE THURSDY IT COULD TEST THE BREAKER AND CAN SHOW A DOWNWARD MOVE

PLEASE DO CORRECT I WANT TO LEARN MORE FROM YOU EXPERIENCED PEOPLE

SOME THE THINGS MARKED IN THE CHARTILEARNED FROM
PAT- BREAKER,SRF,OB
COREG - WAVE 1,2,3 (CONFIDENTLY)
THANK YOU FOR READING THIS

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  • #752,698
  • Jun 18, 2023 6:40am Jun 18, 2023 6:40am
Given the previous failed monthly, I think this last monthly won't break
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #752,699
  • Jun 18, 2023 7:09am Jun 18, 2023 7:09am
Quoting bones
given the previous failed monthly, i think this last monthly won't break {image}
thank you for giving your opinion
your opinion means a lot to me
it can probably go down
as it is also making a descend triangle in weekly
thank you for giving another trade proespective
but i will be up on usd until it crosses the PREVIOUS monthly low
because (correct me if wrong)
bullish engulfing in monthly retesting at the ob ( i pesonally like this setup)
but yeah, if it shows some downward formation formation
will steal your chart view
again thanks a lot
  • #752,700
  • Jun 18, 2023 7:12am Jun 18, 2023 7:12am
FYI GU Weekly chart
I think 1.24500 ~ 1.34800 is practical price area.

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It's not an easy cake, I feel it's more challenging to trade GU lately, SWINGS with many "m" embedded in "W", fake out , seller/buyer traps, 2-way spikes , brokers' predatory pricing , they widen spreads as many as they want to trigger the right now unwanted pending orders that make me bear more loss, even the market price is still far not touch there. If they don't do this, I was going to take profit in the next second.
So that's my lesson to modify my strategy, things always can be better.

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