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Cable Update (GBPUSD)

  • #759,461
  • Jul 19, 2023 1:51am Jul 19, 2023 1:51am
Quoting Fardeen1209
Posting Hindsight but purely for my educational purpose only {image} By theory, a FVG must be filled. But there are times where the price comeback to FVG and Touch its outer range and reverse back. As we can see, the FVG remain hanging there but price didn't filled her box Usually, a trade to rebalance the FVG is often taken, or wait for the FVG to get filled and then trade in direction of structure. Couple of time i saw this setup, where there is a clear external break of structure (denoted by BOS black line) with displacement (aggressive...
Fardeen bro this is what i marked on my chart i pasted below i was expecting this move i am also a learner
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  • #759,462
  • Jul 19, 2023 1:53am Jul 19, 2023 1:53am
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yes yes yes
  • #759,463
  • Jul 19, 2023 1:54am Jul 19, 2023 1:54am
Quoting Pat Chiko
{quote} Thanks for sharing your view. BTW which part is bad ?. This is how I interpret the CPI : A rare piece of good news on the UK inflation front. CPI for June eases by more than expected 8.7% y/y to 7.9% (8.2% expected). Lowest inflation rate since Mar-22. As a noob, I would like to know which part is bad ?. Please share. Thank you
The news was good for the UK and weak for the price of GU, the GU price reaction was overblown IMHO, but this is forex!
  • #759,464
  • Jul 19, 2023 2:01am Jul 19, 2023 2:01am
G/M, a 3rd bearish-bodied dly candle y/day as the p/back from 3142 current yrly hi continued. So far today a drop below the Asian lo as Uk data sees a 100pip reaction to that downside, to the 38.2% of the 2592- said 3142 move, before a bounce.

1hr below
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Trader with an Edge.
  • #759,465
  • Jul 19, 2023 2:03am Jul 19, 2023 2:03am
Trying again Long

Long GBPUSD : 1.29657
S/L : 1.29413
T/P (max ) : 1.32542

Bella's Blue ( beta v1.7 G )

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Goddess of Thunder..
  • #759,466
  • Jul 19, 2023 2:04am Jul 19, 2023 2:04am
Looking at here (1.2965) and 1.30 for possible areas to short.
  • #759,467
  • Jul 19, 2023 2:08am Jul 19, 2023 2:08am
Quoting JereMi256
Getting a breakout at this time is quit odd. Bulls are losing it again. 1.2950 is most likely to be reached tomorrow if a clear break happens
Let's see how this zone performs
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Face 'ur fears & tame 'ur greed
  • #759,468
  • Jul 19, 2023 2:09am Jul 19, 2023 2:09am
Quoting Abeeha
{quote} Fardeen bro this is what i marked on my chart i pasted below i was expecting this move i am also a learner {image}
Thanks sis.
Nice and clear chart.
More time in the market, does not mean you trade better!
  • #759,469
  • Jul 19, 2023 2:10am Jul 19, 2023 2:10am
...price @current dly/data react lo just touched the top of the 4hr part of the prev 1hr/4hr sw lo zone that extends down to 2903, = prev supp = pot supp.

4hr below
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Trader with an Edge.
  • #759,470
  • Jul 19, 2023 2:12am Jul 19, 2023 2:12am
Quoting Pat Chiko
{quote} Thanks for sharing your view. BTW which part is bad ?. This is how I interpret the CPI : A rare piece of good news on the UK inflation front. CPI for June eases by more than expected 8.7% y/y to 7.9% (8.2% expected). Lowest inflation rate since Mar-22. As a noob, I would like to know which part is bad ?. Please share. Thank you
bad as in lower inflation means less chances of rate rises or at least crazy hikes anyway
Insane in the Brain..
  • #759,471
  • Jul 19, 2023 2:14am Jul 19, 2023 2:14am
The US$ is back in line with the high that it established before the UK CPI spike.
  • #759,472
  • Jul 19, 2023 2:17am Jul 19, 2023 2:17am
Quoting Bella.al
Trying again Long Long GBPUSD : 1.29657 S/L : 1.29413 T/P (max ) : 1.32542 Bella's Blue ( beta v1.7 G ) {image}
Sorry to burst your bubble we going down not up.....yet
average dude treading water
  • #759,473
  • Jul 19, 2023 2:17am Jul 19, 2023 2:17am
Quoting elbert3
{image}{image} 8may target near time to sell it ??
morning . Did you take the trade ??
  • #759,474
  • Jul 19, 2023 2:17am Jul 19, 2023 2:17am
...it was my favorite type of data reaction, the classic a. try and get involved with the momentum (spreads and broker tricks allowing,) b. buy the 1st lo, c. sell the 1st p/back. (and vice versa for upside reactions.)
Trader with an Edge.
  • #759,475
  • Jul 19, 2023 2:18am Jul 19, 2023 2:18am
Quoting Bella.al
Trying again Long Long GBPUSD : 1.29657 S/L : 1.29413 T/P (max ) : 1.32542 Bella's Blue ( beta v1.7 G ) {image}
Sl is hit -24 pips.
Goddess of Thunder..
  • #759,476
  • Jul 19, 2023 2:18am Jul 19, 2023 2:18am
Quoting BeeTogether
{quote} bad as in lower inflation means less chances of rate rises or at least crazy hikes anyway
UK Overnight Interest swap 2 year fell below 6% at 5.78%
More time in the market, does not mean you trade better!
  • #759,477
  • Jul 19, 2023 2:21am Jul 19, 2023 2:21am
Quoting BeeTogether
{quote} bad as in lower inflation means less chances of rate rises or at least crazy hikes anyway
I agree and normally this is true.
However, inflation in UK is so damn high BoE has no other choice but keep raising rates. CPI coming lower in US at 3% and 7.9% in UK isn't the same. Yes, they are both below expectation, however in UK it's almost 8% while in US 3%. Fed will hike once more and probably Powell should refrain from preparing markets for another increase, because at this point it's unnecessary. Powell is Powell however and will probably say they are data driven and won't exclude the possibility of Fed raising rates in September also.
  • #759,478
  • Jul 19, 2023 2:24am Jul 19, 2023 2:24am
...4hr/dly/wkly are still in general uptrends and there is still 4hr bullish hidden div @ the current dly lo which may stay a valid pattern whilst above 2752. 1hr in a general downtrend though, and intraday bearish right now overall too.
Trader with an Edge.
  • #759,479
  • Jul 19, 2023 2:25am Jul 19, 2023 2:25am
Quoting MIKKI
{quote} Sorry to burst your bubble we going down not up.....yet

Hello,

I don't know i am not a pro yet ( under 1 year experience developing my own system )

Please see my updated journal ( Bella's Blue )
https://www.forexfactory.com/thread/...7#post14503457

Bella
Goddess of Thunder..
  • #759,480
  • Jul 19, 2023 2:26am Jul 19, 2023 2:26am
Quoting TheWraith
{quote} I agree and normally this is true. However, inflation in UK is so damn high BoE has no other choice but keep raising rates. CPI coming lower in US at 3% and 7.9% in UK isn't the same. Yes, they are both below expectation, however in UK it's almost 8% while in US 3%. Fed will hike once more and probably Powell should refrain from preparing markets for another increase, because at this point it's unnecessary. Powell is Powell however and will probably say they are data driven and won't exclude the possibility of Fed raising rates in September...
0.25 rate rise yes but 0.5 like last month quite unlikely. However as we know nothing is certain..
Insane in the Brain..
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