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Cable Update (GBPUSD)

  • #757,481
  • Jul 11, 2023 4:42am Jul 11, 2023 4:42am
Quoting Whale
risking another 17 pips will be my last for the day. {image}
-17 now

-31 today

done
  • #757,482
  • Jul 11, 2023 4:44am Jul 11, 2023 4:44am
...new current dly/wkly/mthly/yrly and uptrend hi achieved after upside follow-thru on the last 1hr close - the inverted hammer after the p/back.

1hr below
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Trader with an Edge.
  • #757,483
  • Jul 11, 2023 4:50am Jul 11, 2023 4:50am
I want to ask a question and answer it. Why is cable going up, to go pluck something? even when data released were so bad? MM at work taking substantial fellows up so that the crash can be devastating!!!
  • #757,484
  • Jul 11, 2023 4:57am Jul 11, 2023 4:57am
Quoting Konichiwhaat
{quote} Finally (hopefully) I am now in sync. I will follow this for a while. SL to BE {image}
SL to 2898 before the hour close
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Emotional Control. Process, not outcome.
  • #757,485
  • Jul 11, 2023 4:58am Jul 11, 2023 4:58am
Quoting dele5000
I want to ask a question and answer it. Why is cable going up, to go pluck something? even when data released were so bad? MM at work taking substantial fellows up so that the crash can be devastating!!!
because the king is temporary dead

try again later
  • #757,486
  • Jul 11, 2023 4:59am Jul 11, 2023 4:59am
Quoting dele5000
I want to ask a question and answer it. Why is cable going up, to go pluck something? even when data released were so bad? MM at work taking substantial fellows up so that the crash can be devastating!!!
The answer to your question is below but before that; the market takes a rounded view overall and that individual data releases are part of that until a complete game changer happens. In respect of data, this may be one piece or, more likely, several pieces of data over any given length of time. In this particular case re £ rise, the market has taken the view that Uk inflation is stickier than U.s's, and Uk's Boe Mpc will continue to raise rates even if it means a recession in Uk. Re where it is going and whether it is setting up for a big fall...well no one knows, and re a 'crash' I refer you to my answer above. Look at Uk equities, they have obviously been falling since they were in the 7900's.

By the way, the answer from a technical point of view as to why cable is going up is; cause it is facilitated by more buying volume than selling volume. As a tech trader we don't need to know why, and in fact this can sometimes impede on tech decisions to enter the market.
Trader with an Edge.
  • #757,487
  • Jul 11, 2023 5:00am Jul 11, 2023 5:00am
Took the hit! This ain’t coming down anytime soon.
Insane in the Brain..
  • #757,488
  • Jul 11, 2023 5:10am Jul 11, 2023 5:10am
Testing sold 1.2913 SL 1.2920
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #757,489
  • Jul 11, 2023 5:12am Jul 11, 2023 5:12am
Quoting Whale
{quote} -17 now -31 today done
Thanks for sharing!
  • #757,490
  • Jul 11, 2023 5:14am Jul 11, 2023 5:14am
When it comes to professional account, these brokers ain't playing around
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More time in the market, does not mean you trade better!
  • #757,491
  • Jul 11, 2023 5:17am Jul 11, 2023 5:17am
Quoting Pat Chiko
GU Late to join the party. Just open trading station and punch in 1st trade Try some luck{image}
GU
(revenge trading)
Take out some money and let the rest fly to the moon.
The uncertainty about when the US central bank might begin its rate cutting cycle remains high, and excessive USD weakness
Cautiously eyes 1.3000 amid BoE speculations.
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I come from the future.
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  • #757,492
  • Jul 11, 2023 5:18am Jul 11, 2023 5:18am
Quoting BeeTogether
Took the hit! This ain’t coming down anytime soon.
Well you know what is good for you, but from my end here, DXY should not fall further, at least a retracement to 101.92-102 should start any moment, and that should have help to mitigate the drawdown
  • #757,493
  • Jul 11, 2023 5:22am Jul 11, 2023 5:22am
Quoting dele5000
{quote} Well you know what is good for you, but from my end here, DXY should not fall further, at least a retracement to 101.92-102 should start any moment, and that should have help to mitigate the drawdown
Yes I agree, If we can note that in US Session it started north, remains north in asian and UK sessions. the first 2 hours of US Session today are important to determine the direction. It has to pullback for GU and DXY needs to get a little upside towards 102.10 area.
  • #757,494
  • Jul 11, 2023 5:25am Jul 11, 2023 5:25am
Quoting Konichiwhaat
{quote} SL to 2898 before the hour close {image}
Looking to the daily for potential landing zones. $1.30 looks logical
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Emotional Control. Process, not outcome.
  • #757,495
  • Jul 11, 2023 5:28am Jul 11, 2023 5:28am
For 20 pips
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yes yes yes
  • #757,496
  • Jul 11, 2023 5:30am Jul 11, 2023 5:30am
Quoting Headland
{quote} The answer to your question is below but before that; the market takes a rounded view overall and that individual data releases are part of that until a complete game changer happens. In respect of data, this may be one piece or, more likely, several pieces of data over any given length of time. In this particular case re £ rise, the market has taken the view that Uk inflation is stickier than U.s's, and Uk's Boe Mpc will continue to raise rates even if it means a recession in Uk. Re where it is going and whether it is setting up for a big...
why cable is going up is; cause it is facilitated by more buying volume than selling volume.
That is not quite correct. Although typically there is increased volume in the direction that price is moving, it is not a requirement. Price can rise/fall with volume decreasing; a single low-volume deal at a higher/lower price is able to move the price higher/lower. I am sure that you have also seen price moving up/down and as it nears its apex/nadir, volume decreases, yet price is still continuing up/down.
To free Gazans of Hamas, use whatever it takes.
  • #757,497
  • Jul 11, 2023 5:30am Jul 11, 2023 5:30am
Quoting Pat Chiko
{quote} GU (revenge trading) Take out some money and let the rest fly to the moon. The uncertainty about when the US central bank might begin its rate cutting cycle remains high, and excessive USD weakness Cautiously eyes 1.3000 amid BoE speculations.{image}
Yeah i think Powell said in beginning of 2025 when they reached the target inflation rate of 2%.
You have an IQ lower than 90 if you interact with this user.
  • #757,498
  • Jul 11, 2023 5:33am Jul 11, 2023 5:33am
Long from 1.28882 / 1.28922 are on the run
I will look for 1.297 price level to short
By the way, special thanks to all had shared and introduced nice forex mentorship here.
Let me learn a lot of useful skill and concept.
Hope everyone have green pips !
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  • #757,499
  • Jul 11, 2023 5:36am Jul 11, 2023 5:36am
Quoting DrDave
{quote} why cable is going up is; cause it is facilitated by more buying volume than selling volume. That is not quite correct. Although typically there is increased volume in the direction that price is moving, it is not a requirement. Price can rise/fall with volume decreasing; a single low-volume deal at a higher/lower price is able to move the price higher/lower. I am sure that you have also seen price moving up/down and as it nears its apex/nadir, volume decreases, yet price is still continuing up/down.
Hi, I think you are conflating 2 separate issues, ie yes volume can be falling relative to what it was and price can still rise or fall, but for price to rise for eg the buying volume has to be greater than or equal to the selling volume at the next upside price level. If it is equal to - then price equilibrium has been reached and the market is in balance, if it is greater than the selling volume at that next upside price level then price will consume the selling volume @ that level and continue to rise until balance is achieved. Of course in reality balance is never really achieved and if it is, it isn't for long, as new orders come in and out of the market all the time.
Trader with an Edge.
  • #757,500
  • Jul 11, 2023 5:36am Jul 11, 2023 5:36am
Dollah Index
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About to break below the triangle
First sign of weakness of the USD.
Close below it, and then that further confirms of possible downtrend.

USD remains weak.
Weakness is expected in the S&P500, while the bond market exhibits mixed performance.

We have; Big tech pulls back.
Healthcare resolved lower.
Transports, industrials unfazed.
Energy stocks woken up.
China, commodities bounced.
Weakness in Europe.
Bonds resumed the downtrend.


The question to ponder here, is that will the Uncle Sam do it immediately or will he let everyone suffer a bit first?
If he let everyone suffer, won't that be more helpful to him and the US?
Will he devalue USD from a position of strength or apparent weakness?
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
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