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Cable Update (GBPUSD)

  • #756,941
  • Jul 9, 2023 6:29am Jul 9, 2023 6:29am
Quoting Fx3423454
{quote} I actually think that EUR is going to collapse unfortunately. I also think that the GBP may actually fare better than the EUR into the future.
...and why do you think that?...
  • #756,942
  • Jul 9, 2023 7:41am Jul 9, 2023 7:41am
Hello to all the traders out there, hope everyone is enjoying the weekend?

Has anyone made any predictions about the market's course for the announcement of the claimant count change on Tuesday, July 11?
  • #756,943
  • Jul 9, 2023 7:53am Jul 9, 2023 7:53am
Quoting Waveskierrob
{quote} ...and why do you think that?...
coin toss?
Insane in the Brain..
  • #756,944
  • Jul 9, 2023 8:13am Jul 9, 2023 8:13am
Quoting BeeTogether
{quote} coin toss?
...if that's his/her reason that's fine by me, but it's quite a bold statement which in my opinion needs justifying or else the thread will just turn into a massive guessing game which folks like ninner are already making it that way, if that's the case my guess(hope) GU will drop 1000 pips by the end of play on Friday....
  • #756,945
  • Jul 9, 2023 8:33am Jul 9, 2023 8:33am
wavegarrick looser still didn't replied me
  • #756,946
  • Jul 9, 2023 9:00am Jul 9, 2023 9:00am
Quoting Waveskierrob
{quote} ...if that's his/her reason that's fine by me, but it's quite a bold statement which in my opinion needs justifying or else the thread will just turn into a massive guessing game which folks like ninner are already making it that way, if that's the case my guess(hope) GU will drop 1000 pips by the end of play on Friday....
The thread "will turn" into a massive guessing game? I think it's far too late for that.
Trade at your own risk.
  • #756,947
  • Jul 9, 2023 9:04am Jul 9, 2023 9:04am
Quoting Fx3423454
{quote} The thread "will turn" into a massive guessing game? I think it's far too late for that.
Yes you're are right...
  • #756,948
  • Jul 9, 2023 9:06am Jul 9, 2023 9:06am
Quoting AlfieSolomon
wavegarrick looser still didn't replied me
...have patience he will...
  • #756,949
  • Jul 9, 2023 9:49am Jul 9, 2023 9:49am
Quoting Waveskierrob
{quote} ...if that's his/her reason that's fine by me, but it's quite a bold statement which in my opinion needs justifying or else the thread will just turn into a massive guessing game which folks like ninner are already making it that way, if that's the case my guess(hope) GU will drop 1000 pips by the end of play on Friday....
personally looking at areas of resistance 129 is a massive area break above and we are at 130 failure then a drop to 127 also possible. There is data that can help the trend or pull the carpet from under its feet this week too.

maybe there are a lot of sellers waiting at 130 which could trigger a drop below 125 not sure. Lots of clues but at the end it could be a well educated guess that makes the money.
Insane in the Brain..
  • #756,950
  • Jul 9, 2023 9:55am Jul 9, 2023 9:55am
Quoting Waveskierrob
{quote} ...if that's his/her reason that's fine by me, but it's quite a bold statement which in my opinion needs justifying or else the thread will just turn into a massive guessing game which folks like ninner are already making it that way, if that's the case my guess(hope) GU will drop 1000 pips by the end of play on Friday....
I will take no pleasure in being correct about the collapse of the EUR.
Trade at your own risk.
  • #756,951
  • Jul 9, 2023 9:57am Jul 9, 2023 9:57am
Quoting BeeTogether
{quote} personally looking at areas of resistance 129 is a massive area break above and we are at 130 failure then a drop to 127 also possible. There is data that can help the trend or pull the carpet from under its feet this week too. maybe there are a lot of sellers waiting at 130 which could trigger a drop below 125 not sure. Lots of clues but at the end it could be a well educated guess that makes the money.
EURUSD already looks ready to short whereas with GBPUSD I have no idea when it will be ripe.
Trade at your own risk.
  • #756,952
  • Jul 9, 2023 10:17am Jul 9, 2023 10:17am
1.3 is the target at hand, Monday, Tuesday and Wednesday should prove that this week.

However should we tend to get a range, it may be because of this Dxy 4H Demand zone, the Friday drop left a wide imbalance and a flip zone(lemon green area).
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Face 'ur fears & tame 'ur greed
  • #756,953
  • Jul 9, 2023 10:20am Jul 9, 2023 10:20am
On that note therefore, I will be looking at these areas for a possible pullback.
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Face 'ur fears & tame 'ur greed
  • #756,954
  • Jul 9, 2023 10:22am Jul 9, 2023 10:22am
Quoting BeeTogether
{quote} personally looking at areas of resistance 129 is a massive area break above and we are at 130 failure then a drop to 127 also possible. There is data that can help the trend or pull the carpet from under its feet this week too. maybe there are a lot of sellers waiting at 130 which could trigger a drop below 125 not sure. Lots of clues but at the end it could be a well educated guess that makes the money.
Nice to read you mate Bee!!! And if it gets all the way to 1.3, the end of 2017-2021, all of that juicy action, 1.3-1.34, Indecisive Endless Madness, the ohhh so frequently fought for, kissed for, danced for levels will be probably be my next hunting ground for dailyATR profit both ways ad infinitum for crazy me

As for me, for this quarter, I'm mainly concentrating on short setups <1.26, and/or after return from >1.31

Taking this opportunity to wish to all of you the best of quarters !!!!!

And now, let's hit those trading slopes !!!!
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #756,955
  • Jul 9, 2023 10:53am Jul 9, 2023 10:53am
Quoting PeterCaleb
{quote} 5% is easy if/when you seek to see the situation and not "triggers" on a screen.
Peter, you are obfuscating again. If framing is important to your claim of 5% daily, then explain it in one or two sentences. Then show a chart or two with some analysis of the GBP/USD, as of today. What are your thoughts on how PA got to where it is? What are the critical levels, above and below current price? What are you looking for in the next few days? Just some basic analysis. This does not require spending time on your ridiculous thread, or talking about your mistrust of data, or criticizing traders here.

I'll help you get things rolling here, Peter. I'll post a quick analysis of the GBP/USD and include a chart. That will give you something to criticize (which is very subjective of you Peter, given your dedication to objectivity), or you can post your thinking and a chart, so we can see what goes into achieving your 5% daily results. You just stated that you are a results oriented guy, so lets talk what goes into getting those results. Not posting or participating is the antithesis of objective thinking. You claim 5% per day. Show how you objectively view the current market situation for the GBP/USD. Because from what you've been bloviating about, everyone here is a non-objective thinker, and we are doomed by our modern, subjective lives to forex failure. Come on, Peter, jump on in and post something relevant to the topic of this thread.
  • #756,956
  • Edited Jul 10, 2023 7:59am Jul 9, 2023 11:11am | Edited Jul 10, 2023 7:59am
Peter, here is my quick analysis of the GBP/USD. The GBP is currently showing strength against the USD. This might go on for a while, but the long term trend for this pair is down. I think the current move up is actually reflective of GBP weakness, in that (IMHO) the move is representative of repatriation of GBPs in advance of upcoming economic weakness in the UK. So from a 4H narrative perspective, we are seeing a tradable 4H retracement that will eventually turn back down and move to new lows. That is just my opinion, and is influencing how I trade the 1H and lower charts. I know that the BOE has much more to do in their fight with inflation, and the differential between US and UK interest rates will likely expand, but interest rate influence on currency valuations will eventually give way to GDP differentials, and the expectations for US GDP vs UK GDP are on the rise (again, IMHO).

Here is a quick chart. Peter, I have just put in some of the short-term targets, some fib work, etc, but as you should know, I am prepared for the market to go either direction during any trading session, some of which I will trade, and some I will not. Perhaps we could have that discussion during our trading challenge? OK Peter, frame up the GBP/USD.
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  • #756,957
  • Jul 9, 2023 11:13am Jul 9, 2023 11:13am
Quoting GEfx
{quote} Peter, you are obfuscating again. If framing is important to your claim of 5% daily, then explain it in one or two sentences. Then show a chart or two with some analysis of the GBP/USD, as of today. What are your thoughts on how PA got to where it is? What are the critical levels, above and below current price? What are you looking for in the next few days? Just some basic analysis. This does not require spending time on your ridiculous thread, or talking about your mistrust of data, or criticizing traders here. I'll help you get things...
5% a day just shows how ignorant he is ...
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  • #756,958
  • Jul 9, 2023 11:15am Jul 9, 2023 11:15am
Peter, I'd be happy to post my chart from last Friday with my pre-NFP analysis and my trades from that day. You know, to get the mental juices flowing. Have we picked a day next week? I suggest Tuesday through Thursday. That gives us an opportunity to see the CPI impact, plus pre- and post-CPI PA and trades. What are your thoughts?
  • #756,959
  • Jul 9, 2023 11:20am Jul 9, 2023 11:20am
Quoting GEfx
Peter, here is my quick analysis of the GBP/USD. The GBP is currently showing strength against the USD. This might go on for a while, but the long term trend for this pair is down. I think the current move up is actually reflective of GBP weakness, in that (IMHO) the move is representative of repatriation of GBPs in advance of upcoming economic weakness in the UK. So from a 4H narrative perspective, we are seeing a tradable 4H retracement that will eventually turn back down and move to new lows. That is just my opinion, and is influencing how I...
GEfx, and here is my view.
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Always trade your own plan...I don't provide trading signals.
  • #756,960
  • Jul 9, 2023 11:27am Jul 9, 2023 11:27am
Quoting GEfx
{quote} Peter, you are obfuscating again. If framing is important to your claim of 5% daily....
5% a day, 5 days a week, for 5 Years.

Initial balance:5$
Total balance in 2028 =

$22,439,092,590,729,691,017,116,647,424.00
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
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