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Cable Update (GBPUSD)

  • #757,501
  • Jul 11, 2023 5:42am Jul 11, 2023 5:42am
Quoting Ferna
{quote} Yeah i think Powell said in beginning of 2025 when they reached the target inflation rate of 2%.

Fed’s blackout period to begin on Friday.

According to Fed’s Vice-Chair for Supervision, Michael Barr, stated the Fed still has “a bit of work to do” on rates.

At the same time, Cleveland Fed President Loretta Mester commented that the economy is still robust while saying, “When the economy reopened, labor demand well outpaced labor supply, putting upward pressure on wages and price inflation.”
She stated, “More hikes are needed to bring inflation back down to target.”

Money market futures had priced in a 92.4% chance for a 25 basis points (bps) rate hike by the Fed at the 25-26 July meeting, as shown by the CME FedWatch Tool.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #757,502
  • Jul 11, 2023 5:44am Jul 11, 2023 5:44am
Here is an updated chart (4H). My long B$ position is still running and I've moved the stop to 1.2912. Would like to get at least one more trade in before it hits next target at 1.2960. I am also trading the USD/JPY this morning, with one trade still running from last night (stop now at 140.65).

Re: G$, I will enter my next trade at 1.2925 within the next few minutes if the current PA moves back a bit. Stops will stay at 1.2912 for both trades, should I get the price. Also, looking to enter the next yen trade at 140.40 if I can get it in a few minutes.
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  • #757,503
  • Jul 11, 2023 5:44am Jul 11, 2023 5:44am
Quoting Konichiwhaat
{quote} Looking to the daily for potential landing zones. $1.30 looks logical {image}
SL to 2909
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Emotional Control. Process, not outcome.
  • #757,504
  • Jul 11, 2023 5:46am Jul 11, 2023 5:46am
Quoting Pat Chiko
Dollah Index{image} About to break below the triangle First sign of weakness of the USD. Close below it, and then that further confirms of possible downtrend. USD remains weak. Weakness is expected in the S&P500, while the bond market exhibits mixed performance. We have; Big tech pulls back. Healthcare resolved lower. Transports, industrials unfazed. Energy stocks woken up. China, commodities bounced. Weakness in Europe. Bonds resumed the downtrend. The question to ponder here, is that will the Uncle Sam do it immediately or will he let everyone...
Unlce Sam and the FED both want to devalue the US dollar so that US companies are more profitable and generate more tax revenue to fund the global US war efforts without raising taxes. US income and spending is all measured in constant US$! Very simple. Any other fallout is incidental and of no concern to the politicians. Remember this is caused by inflation and not anything that the government did !
  • #757,505
  • Edited 6:20am Jul 11, 2023 5:56am | Edited 6:20am
Quoting GEfx
Here is an updated chart (4H). My long B$ position is still running and I've moved the stop to 1.2912. Would like to get at least one more trade in before it hits next target at 1.2960. I am also trading the USD/JPY this morning, with one trade still running from last night (stop now at 140.65). Re: G$, I will enter my next trade at 1.2925 within the next few minutes if the current PA moves back a bit. Stops will stay at 1.2912 for both trades, should I get the price. Also, looking to enter the next yen trade at 140.40 if I can get it in a few minutes....
Holding on trade 2, trying to recalculate best entry price now.
Edit: Stop hit at 1.2912 on open G$ trade, entry price was 1.2843. New entry price is 1.2895.
Edit2: in the yen at 140.42 for trade 2; trade 1 is at 141.69. No more yen updates
  • #757,506
  • Edited 6:15am Jul 11, 2023 5:58am | Edited 6:15am
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  • #757,507
  • Jul 11, 2023 5:58am Jul 11, 2023 5:58am
this was expected but i couldnt get a good entry , now im waiting for a pullback for another major long move
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  • #757,508
  • Edited 6:19am Jul 11, 2023 5:58am | Edited 6:19am
Dx is above significant support at 101.300
Eu made a false break of 1.10121
But crooky gu is squeezing
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yes yes yes
  • #757,509
  • Jul 11, 2023 6:01am Jul 11, 2023 6:01am
Holy Moly... gained 1/2 day back but that move killed me psychologically again. Again such a run... wow. Now we go back to the earth.

I just wanted to mention: 21 hours (!!) ago we were at 1.2750. Holy pressure. Closed my last shorts at 1.2912, 1 Minute ago.

Lots of short targets now open. Let's see if we get the retrace now for pros or if the move was too much again and breakdown comes in.
They overdone it (again)...

Currently pressure from both sides: GBP and USD, that's the reason for the retrace currently. No ever long for me now. First target 1.2892, selling currently extreme. Bulls have to fight back. Now.
  • #757,510
  • Jul 11, 2023 6:03am Jul 11, 2023 6:03am
Quoting Konichiwhaat
{quote} SL to 2909 {image}
SL triggered. +27 pips. A good, tidy trade
Emotional Control. Process, not outcome.
  • #757,511
  • Jul 11, 2023 6:07am Jul 11, 2023 6:07am
Long in at 1.2915
Don't trade what you think. Just what you see!!!
  • #757,512
  • Jul 11, 2023 6:12am Jul 11, 2023 6:12am
Sorry to bother again but look that crap PA now. Look how they unwind their long positions. My god, summer trading is really messy. First pull up like hell and than unwind. How shall you trade that? May be long now at 1.2918 for trend traders, - I would never jump into that market directly. Many too many drive through all points of support and resistance. Anyway, no trade now.
  • #757,513
  • Jul 11, 2023 6:12am Jul 11, 2023 6:12am
Cable is again trading below the 1.29151 ( Hot Zone Resistance ) . Currently Bella's Price Action provides no signal to go short , in fact it is sideways .
i will wait for 2 hours max if it gives i will short cable.

Bella's Blue ( beta v1.7 E )
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Goddess of Thunder..
  • #757,514
  • Jul 11, 2023 6:21am Jul 11, 2023 6:21am
Quoting JackintheBox
Sorry to bother again but look that crap PA now. Look how they unwind their long positions. My god, summer trading is really messy. First pull up like hell and than unwind. How shall you trade that? May be long now at 1.2918 for trend traders, - I would never jump into that market directly. Many too many drive through all points of support and resistance. Anyway, no trade now.
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https://www.livecharts.co.uk/Members...rex_pivots.php
  • #757,515
  • Jul 11, 2023 6:23am Jul 11, 2023 6:23am
Testing long at 12915 TP 130
Insane in the Brain..
  • #757,516
  • Jul 11, 2023 6:30am Jul 11, 2023 6:30am
I have a setup at 1.2918'ish, but I'll skip it for a lower entry if it arrives.
  • #757,517
  • Jul 11, 2023 6:33am Jul 11, 2023 6:33am
Equities tilt higher, Fixed bid & havens gain; Fed's Bullard due - Newsquawk US Market Open
  • #757,518
  • Jul 11, 2023 6:39am Jul 11, 2023 6:39am
Quoting Ferna
{quote} Yeah i think Powell said in beginning of 2025 when they reached the target inflation rate of 2%.
Quoting dantpm
{quote} Unlce Sam and the FED both want to devalue the US dollar so that US companies are more profitable and generate more tax revenue to fund the global US war efforts without raising taxes. US income and spending is all measured in constant US$! Very simple. Any other fallout is incidental and of no concern to the politicians. Remember this is caused by inflation and not anything that the government did !
What ups ?
On macro this week, the key focus will be on June's CPI to be released on tomoroor.
It’s the last piece of inflation data before Fed’s next rate decision on July 26th (with June PCE released later) so it will be closely watched.
Tomorrow Menu
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With the bulk of the high YoY % change CPI readings behind us, the math will start to kick in and inflation will begin to rise in the months ahead.
This will keep the Fed from lowering rates anytime soon.
US CPI as main dish.
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Estimates 3.1
Previous 4.0
FOMC 26th July atm 25 BPS rate hikes is holding us back.
Will the FED raise even if CPI goes down to 3.1?
Exciting times ahead!

CPI on Wednesday.
Massive turnaround on Friday. Keep an eye on the market, need to see doc up 25+ or lower into CPI.
The Federal Reserve Bank of New York's monthly Survey of Consumer Expectations showed on Monday that the US consumers' one-year inflation expectation dropped to the lowest level since April 2021 at 3.8% in June from 4.1% in May.

Stay safe out there!

PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #757,519
  • Edited 7:26am Jul 11, 2023 6:40am | Edited 7:26am
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easy fib @1.2750 so was 1.2690 go back to Phi don't use fibs what r u doing... guessing...nature of things...ask dr david sue zue key...gaslighters...hellsport strike it rich spills over...poison pen tags on...harbour no gru judges...The Main Directorate of the General Staff of the Armed Forces of the Russian Federation...BLOW THE LIT OF NATO BALTIC INDEX FLOATING LNG STATIONS catering issues...ensue...
  • #757,520
  • Jul 11, 2023 6:48am Jul 11, 2023 6:48am
Squeezy mf
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yes yes yes
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