Cable Update (GBPUSD) | Page 37704 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #754,061
  • Edited 3:35pm Jun 23, 2023 2:59pm | Edited 3:35pm
Quoting TheWraith
That's the problem with indicators.. You can have sell signal on lower TF's, but buy on higher time frames. You can also have hourly suggesting buy, H4 sell and daily buy at the same time. My opinion is: IT DOESN'T MATTER WHAT TF IT IS. IT DOESN'T MATTER WHAT TIME IT IS. IT ONLY MATTERS WHERE PRICE IS HEADING NEXT AND WHERE PRICE WAS. When is irrelevant.
IT DOESN'T MATTER WHAT TF IT IS. IT DOESN'T MATTER WHAT TIME IT IS. IT ONLY MATTERS WHERE PRICE IS HEADING NEXT AND WHERE PRICE WAS. When is irrelevant.
I emphatically disagree with that.

The ONLY time that any given TF can change direction is if EVERY TF below it is also in that desired direction. If you see H4 going up and H1 going down. The H4 CANNOT be going down until EVERY TF below it is going down.

And of course there can be buy signals on a TF and sell signals on a lower TF, because the lower TF sell signal results from the PULLBACK to that higher TF that is going up. So your short positions are counter-trend trades. This is why if you have the right system, it has the same criteria for determining entries no matter if it is a trend countinuation or a counter-trend entry.
To free Gazans of Hamas, use whatever it takes.
  • #754,062
  • Jun 23, 2023 3:01pm Jun 23, 2023 3:01pm
Quoting DrDave
{quote} Look at this visual aid again. Note that NO H2 CHART HAS BEEN DISPLAYED THERE! So why are you suddenly confused when you see some INDICATOR LINES (that are a proxy for price) that include a LABEL for a "non-standard" TF??? Explain, if you can, how speaking of H1, H2, H4 is different in principle from speaking of M15, M30, H1. In both cases, 3 consecutive TFs that the next higher TF has a period that is 2X the previous TF. I have stated many times that retracements...

"gasbag" - someone who talks all the time but says nothing important.
  • #754,063
  • Jun 23, 2023 3:35pm Jun 23, 2023 3:35pm
Quoting voeltoez
{quote} nope..my all pending not hit..so no.trade yesterday.. play safe because this week profit enough to cover until friday..
xxx47 was exact previous high, perfect bounce.
Nice name
  • #754,064
  • Jun 23, 2023 4:32pm Jun 23, 2023 4:32pm
Quoting navk
1.2700 seems to be offering support as of now. Break of this will lead to further down today. If not, after a consolidation.. the price likely to move up higher
well, the support has held....

As long as the price on Monday does not open down on Monday, i will long around round number with stop at today low...

Will go at it... will cover today loss.

However, if any of my assumptions change on Monday open, will re avaluate
Intraday only.
  • #754,065
  • Jun 23, 2023 5:34pm Jun 23, 2023 5:34pm
Quoting Ferna
So if we look at Manufacturing PMI for U.K it has been under 50 for 10 months now, thus indicating heavy industrial contraction. GDP seems to jojo back and forth every quarter. Housing problems. Still i dont know which more criteria has to be fullfilled for technical recession? I mean that the employment numbers are a bit useless indicator after Covid-19. Many people either got destroyed by Covid, got long covid, had an adverse reaction to a vaccine or simply didn't want to return to their workplace. Ofc the labour market appears strong then! it's...
You are so correct, I was actually also reading about this recently.
UK manufacturing is a big worry due to supply chain issues, labour shortage, pandemic, Brexit, political crisis and fuel shortage...
Government helped with rate payment delay last year, but that help short-lived and after reality hit many companies find it hard to keep up with all of the problems.

Article from 2022 explains it well, -
https://www.theguardian.com/business...-by-63-in-year
  • #754,066
  • Jun 23, 2023 6:21pm Jun 23, 2023 6:21pm
Quoting Orangeapple
I'm trading other instruments atm but I took a cursory look at G/U - if I had to trade it, I would trade the channel and expect some increases. Prob next week though. Excuse the terrible drawing, my sisters the artist not me. {image}
What time frame this is?

Looks like a bullish flag, but I expect break out lower, 3 times tested already, one more test should do the job.
  • #754,067
  • Jun 24, 2023 12:04am Jun 24, 2023 12:04am
Support seems to be holding, we will find out next week
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 31 KB
There is NO SHORTCUT to become a SUCCESSFUL Trader
  • #754,068
  • Jun 24, 2023 2:44am Jun 24, 2023 2:44am
Quoting navk
{quote} well, the support has held.... As long as the price on Monday does not open down on Monday, i will long around round number with stop at today low... Will go at it... will cover today loss. However, if any of my assumptions change on Monday open, will re avaluate
you have a good plan, i have a bullish position, i placed SL below the support level, if it goes wrong..

we'll see.
  • #754,069
  • Jun 24, 2023 4:00am Jun 24, 2023 4:00am
Quoting navk
{quote} well, the support has held.... As long as the price on Monday does not open down on Monday, i will long around round number with stop at today low... Will go at it... will cover today loss. However, if any of my assumptions change on Monday open, will re avaluate
Same here, 2700 is stubborn, so if it doesn't go down, it has to go up again. Monthly candle is super bullish, anyway, and can easily attack 1.30. But I am open to different scenarios, too. Last week of the month is coming, will be fun for sure.
Everyone can see the chart, but only a few can actually read it.
  • #754,070
  • Edited 6:38am Jun 24, 2023 4:17am | Edited 6:38am
1.27 remains a hot spot for orders. Last Buy still isn't taken out, however neither did the price move up much which suggests some kind of Range started to develop between last buy and last sell.

There were 33% of traders Long when price broke through 1.28 and since then more and more traders have gone long. Now, it's 42% of traders Long. Majority is still short and fundamentals are still on Pound's side. Probably 1.27 long orders will be taken out (hitting their SL's) and then price will start it's journey to 1.30 if everything remains the same.

Final GDP and Core PCE to provide some play next week. Perhaps price will remain in this short term range until FOMC and NFP.

Traders here that are Long are probably right, but perhaps you are right a little too early. I seriously doubt it if we are going up that Unknowns won't trigger SL's from buyers first and only then move up.

One more thing that is in the background and will be in favour of bulls is potential intervention by Japan.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.png Size: 19 KB
  • #754,071
  • Jun 24, 2023 5:23am Jun 24, 2023 5:23am
Quoting DrDave
{quote} IT DOESN'T MATTER WHAT TF IT IS. IT DOESN'T MATTER WHAT TIME IT IS. IT ONLY MATTERS WHERE PRICE IS HEADING NEXT AND WHERE PRICE WAS. When is irrelevant. I emphatically disagree with that. The ONLY time that any given TF can change direction is if EVERY TF below it is also in that desired direction. If you see H4 going up and H1 going down. The H4 CANNOT be going down until EVERY TF below it is going down. And of course there can be buy signals on a TF and sell signals on a lower TF, because the lower TF sell signal results from the PULLBACK...
Traders don't have to invest this much effort in my opinion to take profitable trades. What do you do when Daily is in an uptrend but lower TF's aren't? Do you wait for H4 to start trending up before taking any trade? Or Hourly, or 15M?

Traders could just open daily chart and see where potential majority of orders will be sitting and trade accordingly. Don't you miss all the correction phase by waiting confirmation from lower TF's?

Also, what is guaranteeing you that daily uptrend will continue? Perhaps you will say, but yeah then you look at lower TF's for change in trend. Yeah, but then I ask you when on God's Earth do you enter trade? Thanks Dave!
  • #754,072
  • Edited 7:15am Jun 24, 2023 6:27am | Edited 7:15am
IR is going higher; house prices + equity will tank.
If you read the chart story, you can high probability guess the close.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot 2023-06-24 at 12.22.11.png Size: 417 KB
Click to Enlarge Name: Screenshot 2023-06-24 at 12.25.11.png Size: 68 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #754,073
  • Jun 24, 2023 7:55am Jun 24, 2023 7:55am
EVERYTHING CHANGES COME MONDAY WHAT WILL MARKETS DO NO SUPPORT WILL CATCH ANYTHING....
average dude treading water
  • #754,074
  • Jun 24, 2023 8:01am Jun 24, 2023 8:01am
Looking at the weekend rates on IG like I do every weekend for a clue about any changes due to geopolitical or even an over bought /sold area and I see that both GU and EU are down by over 20 pips. The usual weekend pattern is up or down by anywhere between 0-10 pips when the move is more than 10 usually (more times than not) a move in the direction happens at least for a few hours on resumption of the market.
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_1306.jpeg Size: 256 KB
Insane in the Brain..
  • #754,075
  • Jun 24, 2023 8:41am Jun 24, 2023 8:41am
Quoting BeeTogether
Looking at the weekend rates on IG like I do every weekend for a clue about any changes due to geopolitical or even an over bought /sold area and I see that both GU and EU are down by over 20 pips. The usual weekend pattern is up or down by anywhere between 0-10 pips when the move is more than 10 usually (more times than not) a move in the direction happens at least for a few hours on resumption of the market. {image}
It's because of the current Russia situation

USD will rise, as will gold.
  • #754,076
  • Jun 24, 2023 9:58am Jun 24, 2023 9:58am
Quoting Xauusdscalpr
{quote} It's because of the current Russia situation USD will rise, as will gold.
Usd will be strong gold will weaken down to 1890...gold & dollar are never strong at the same time.Or am I rong...
average dude treading water
  • #754,077
  • Jun 24, 2023 10:49am Jun 24, 2023 10:49am
Quoting BeeTogether
Looking at the weekend rates on IG like I do every weekend for a clue about any changes due to geopolitical or even an over bought /sold area and I see that both GU and EU are down by over 20 pips. The usual weekend pattern is up or down by anywhere between 0-10 pips when the move is more than 10 usually (more times than not) a move in the direction happens at least for a few hours on resumption of the market. {image}
If it opens below 1.27 its gonna be a very bearish week, imo.
  • #754,078
  • Jun 24, 2023 11:32am Jun 24, 2023 11:32am
Quoting BeeTogether
Looking at the weekend rates on IG like I do every weekend for a clue about any changes due to geopolitical or even an over bought /sold area and I see that both GU and EU are down by over 20 pips. The usual weekend pattern is up or down by anywhere between 0-10 pips when the move is more than 10 usually (more times than not) a move in the direction happens at least for a few hours on resumption of the market. {image}

No it shows it at
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 18 KB
  • #754,079
  • Jun 24, 2023 2:39pm Jun 24, 2023 2:39pm
Quoting shakmoney
{quote} No it shows it at {image}

on IG look at the weekend rates
Insane in the Brain..
  • #754,080
  • Jun 24, 2023 5:10pm Jun 24, 2023 5:10pm
Quoting BeeTogether
{quote} on IG look at the weekend rates
Hey Sohail Bro....

Where can I find a good Best Kabsa Recipe or Mandi Lamb in London area ?.

BTW sharing you my newbie chart with zoom in and zoom out vision.
Please "Handle" it with care..

Take Care Bro.
Best Wishes

pat CHIKO

Attached Image (click to enlarge)
Click to Enlarge Name: gu 121.jpg Size: 134 KB

Attached Image (click to enlarge)
Click to Enlarge Name: gu 120.jpg Size: 150 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
1,833 traders viewing now, 3 are registered:
,
Mosfind
,
Price369