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Cable Update (GBPUSD)

  • #753,021
  • Jun 20, 2023 3:50am Jun 20, 2023 3:50am
The U.S crisis is escalating:
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  • #753,022
  • Jun 20, 2023 3:53am Jun 20, 2023 3:53am
Current Rate : 1.27868

Currently i am good , bears seems to be in control , My Indications are still the same "SHORT" . So i am holding and waiting .....

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Goddess of Thunder..
  • #753,023
  • Jun 20, 2023 3:58am Jun 20, 2023 3:58am
Quoting Elysion
Holding since last Friday This feels great but its demo. Price went according to my plan. {image}
Would you buy 10lot in your real account?
More time in the market, does not mean you trade better!
  • #753,024
  • Jun 20, 2023 3:59am Jun 20, 2023 3:59am
good morning

I have a support level on H4 at 1.2760
Bias is short now but it has to break that level to be confirmed.
Price could easily reverse before that.

I was able to profit on some shorts but i want that level to break before i go in again
in wondering about yourself, you forgot what you came here to be part of
  • #753,025
  • Jun 20, 2023 4:04am Jun 20, 2023 4:04am
Quoting Fardeen1209
{quote} Would you buy 10lot in your real account?

Yes, if I have the capital.
I would even go for 100 lots.
Exhausted
  • #753,026
  • Jun 20, 2023 4:07am Jun 20, 2023 4:07am
... The move down from prev 1hr/minor 4hr sw hi zone/steepest desc 1hr t/line 50% fib confluence is finding support in what was a prev 30min sw lo zone - now a prev minor 1hr sw lo zone that goes down to current dly lo/2 x fibs/Dly S1 confluence.

1hr below
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Trader with an Edge.
  • #753,027
  • Jun 20, 2023 4:16am Jun 20, 2023 4:16am
Quoting Bones
{quote} They make loans based on the parameters of the loan. If you don't pay the loan, the money is in the asset, and they take that to pay the loan. Thats why it's pointless to have reserves to cover the loan. The first thing you need to appreciate is that they print the loan, and the money disappears from circulation when the loan is paid. An instant asset and liability is printed at the point of the loan—a double ledger system. If you don't understand basic mechanics, you never understand why all countries use IR to takle inflation.
So with your definition, mortgage foreclosures, where the debt instruments are retired, should reduce the money supply, correct? What about the 'cash' asset that was created? The value of the mortgaged property gets decimated. Don't you still have the cash in circulation?
  • #753,028
  • Jun 20, 2023 4:18am Jun 20, 2023 4:18am
Quoting Elysion
{quote} Yes, if I have the capital. I would even go for 100 lots.
Well, i forgot to mention the "RN" . With the money you actually have in your hand.
Not the if or wish or could - Remove the wishful thinking out the equation.
Would you be able to afford to trade 10lot in your real account rn?

Why i asked?
Somtimes people think ohh its demo, i can do what i want. Meanwhile Time is being used up in doing something not useful.
FOr me Demo account is same as a real account.
Applied the risk, money and trade management the same way i will trade my real account.
Not just because it is a demo, i will trade 1000lot at a time.

Because "if" it was a real account, in 2 days i'll be rich as Elon Musk.
More time in the market, does not mean you trade better!
  • #753,029
  • Jun 20, 2023 4:19am Jun 20, 2023 4:19am
There we go:
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  • #753,030
  • Jun 20, 2023 4:24am Jun 20, 2023 4:24am
Quoting Ferna
There we go: {image}
Still waiting for 1.277 to break.
Exhausted
  • #753,031
  • Jun 20, 2023 4:26am Jun 20, 2023 4:26am
Quoting dantpm
{quote} So with your definition, mortgage foreclosures, where the debt instruments are retired, should reduce the money supply, correct? What about the 'cash' asset that was created? The value of the mortgaged property gets decimated. Don't you still have the cash in circulation?
Money supply is simply a digital numeric.
Not the actual paper money. very small % of the total money supply is in paper, coin.

The source of financial system, bond issuance and money supply is a joke to people who are working hard to save their money from their income.

This explain why it will take forever to save $1m dollar from a 9-5 basic income while other people in the same lifetime, worth around $20bn.
More time in the market, does not mean you trade better!
  • #753,032
  • Jun 20, 2023 4:31am Jun 20, 2023 4:31am
Quoting dantpm
{quote} So with your definition, mortgage foreclosures, where the debt instruments are retired, should reduce the money supply, correct? What about the 'cash' asset that was created? The value of the mortgaged property gets decimated. Don't you still have the cash in circulation?
They take the house and sell it to pay the debt; it might be worth less that way; money would go down but not the entire value.
Nearly all loans are secured on something, certainly high-value loans, if not the person, then other assets not related to the loan. You need collateral.
It's a major difference between normal money creation and QE.
QE money value is based on all other money in existence.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #753,033
  • Jun 20, 2023 4:38am Jun 20, 2023 4:38am
Quoting dantpm
{quote} So with your definition, mortgage foreclosures, where the debt instruments are retired, should reduce the money supply, correct? What about the 'cash' asset that was created? The value of the mortgaged property gets decimated. Don't you still have the cash in circulation?
If there's a loss on the deal, they write off the lost principle and interest that would have been paid on that loss.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #753,034
  • Jun 20, 2023 4:38am Jun 20, 2023 4:38am
Quoting Mitiblotch
Just went long 2789. TP 2950. Let's go finish that upside business. This is extreme gut feeling trading. No useless charts. Waveskierrob style.

Finally found someone trading the same methods as I do.

Gut Feeling Trading.

When I talk this with my friends, most of them say it does not work out. But most of profitable trades are come from Gut Feeling not complicated stuff on charts like other systematic traders.
With courage, patience, and discipline, success is a matter of time.
  • #753,035
  • Jun 20, 2023 4:41am Jun 20, 2023 4:41am
Quoting Elysion
{quote} Still waiting for 1.277 to break.
Am hoping for the same..
I did some calculations and it seems that the GBP cannot go down right now.

Well im gona keep sell positions open to test those calculations.

Lets hope for the dollar
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  • #753,036
  • Jun 20, 2023 4:48am Jun 20, 2023 4:48am
OK BEARS This Time we shall take out 1.27300

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Goddess of Thunder..
  • #753,037
  • Jun 20, 2023 4:52am Jun 20, 2023 4:52am
If EU can break below pivot at 10925, this should help the down move on GU.
  • #753,038
  • Jun 20, 2023 4:59am Jun 20, 2023 4:59am
Quoting Ferna
{quote} Am hoping for the same.. I did some calculations and it seems that the GBP cannot go down right now. Well im gona keep sell positions open to test those calculations. Lets hope for the dollar https://www.youtube.com/watch?v=F57P9C4SAW4

It just broke lol, Now looking for area that I can partial tp.
Maybe 1.274 or 1.273
Exhausted
  • #753,039
  • Jun 20, 2023 5:07am Jun 20, 2023 5:07am
Quoting Elysion
{quote} It just broke lol, Now looking for area that I can partial tp. Maybe 1.274 or 1.273
LMFAO!
I'll have to re-interpret the results since i got no manual
Proably gona go long now that it broke.

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  • #753,040
  • Jun 20, 2023 5:08am Jun 20, 2023 5:08am
Come on!!!!
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yes yes yes
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