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Cable Update (GBPUSD)

  • #761,141
  • Jul 26, 2023 3:42am Jul 26, 2023 3:42am
PREPARE FOR 2023 RECESSION! My bet is that it will start sooner then later.

Gold Chart is telling us everything. It's a matter of weeks now, probably late September early October that total collapse is coming.
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  • #761,142
  • Jul 26, 2023 3:44am Jul 26, 2023 3:44am
Sellers wickes
The bears are coming
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yes yes yes
  • #761,143
  • Jul 26, 2023 3:50am Jul 26, 2023 3:50am
Re Fomc later - If rate goes up as forecast + 0.25%, and the statement is hawkish, then the press conf is likely to be hawkish too. Markets aren't stupid though and they can see that inflation has been dropping quite significantly (unlike Uk) and that we must be near the end of this round of 'tightening' ie rate rises, so only way from there is down even if they stay this high or higher for a while?

Even if rate rises but statement is dovish and press conf dovish, we could see some $ weakness?

Anything can happen, trade what you see not what you think -or-, stay out!
Trader with an Edge.
  • #761,144
  • Jul 26, 2023 3:53am Jul 26, 2023 3:53am
Today we have FOMC interest rate decision + Powell press conference. Markets priced in a 25 bps rate hike and 0 rate hikes in September and November. However, i expect a hawkish signal about the rate hikes in September and November. In that case, the hawkish surprise can send Pound down to 1.26

I am going short.
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  • #761,145
  • Edited 4:09am Jul 26, 2023 3:56am | Edited 4:09am
...to the upside a 3 fib cluster 2923-29 with Wkly pivot @/around top of that 2930, Dly R1 @/around 2934. Potentially minor stuff till 2948-64 = prev res = pot res.
Trader with an Edge.
  • #761,146
  • Jul 26, 2023 3:57am Jul 26, 2023 3:57am
Im looking for 2950, 3030, 3150 to short on GU
  • #761,147
  • Jul 26, 2023 3:58am Jul 26, 2023 3:58am
Monitoring closely - might this go to 1.2960? Let's see what the reaction is at R1. Will close before any significant news though.

Rgds, Angus
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  • #761,148
  • Jul 26, 2023 4:00am Jul 26, 2023 4:00am
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  • #761,149
  • Jul 26, 2023 4:00am Jul 26, 2023 4:00am
...gmt+3 price feed 4hr just closed as below.

4hr below
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Trader with an Edge.
  • #761,150
  • Jul 26, 2023 4:00am Jul 26, 2023 4:00am
GBP/USD H4

R @ 1.301, potentially great price to TP.

Daily candle closing above gray and yellow R lines will mean that upward movement isn't over and it will continue.
Weekly chart looking good, almost on the way to engulfing prior red candle.
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  • #761,151
  • Jul 26, 2023 4:01am Jul 26, 2023 4:01am
Quoting Fx3423454
{quote} My last trade was short AUD/USD where I made 46 pips in roughly 3 minutes. I also have several winning trades still open. You're bending yourself into pretzel and cherry picking trying to rewrite history and it's still not working. Focus more time on your trading and less time on me dude! {image}
Im done, Im said that earlier, anyway green pips to you whatever you are trading with!
People don't plan to lose. They lose because they don't plan.
  • #761,152
  • Jul 26, 2023 4:08am Jul 26, 2023 4:08am
Quoting Nordling
Today we have FOMC interest rate decision + Powell press conference. Markets priced in a 25 bps rate hike and 0 rate hikes in September and November. However, i expect a hawkish signal about the rate hikes in September and November. In that case, the hawkish surprise can send Pound down to 1.26 I am going short.
If I make enough pips before the Fed, then I'm out of Long.
  • #761,153
  • Jul 26, 2023 4:21am Jul 26, 2023 4:21am
Quoting DubaiFX
Hello Guys, USD INDEX didn't Drop yesterday but Fear will get in today because tomorrow is BIG day for Dollar, and it will go down that means that will push the pound high for Better entry, i am on hold wait and watch when and where the Retracement ends, but for now it looks like 1.29 is not far away, Good Luck Guys,
USD INDEX is is Scary tobe honest,
downward pressure is Much more then i anticipated, so for today i am out,
i will check back tonight after FOCM where the Sentiment stand,
because Sentiment actually does effect the market even for short or medium term, but it does, atleast for me,
anyways be careful if you really want to trade FOMC then Retail Traders most of them do get sucked both ways,
for me its better to take the day of and come back when things cool down and we will have clear direction,
problem with most traders is they think there will be big move and they want to catch every train,
but it could be wrong train and it can eat whole week of your profit in no time,
press conference will give us good hints where the FED stands on Future policy.
Good Luck guys,
.
https://www.myfxbook.com/members/Pip...ammad/10236090
not showing off just saying Patience is What saves you from loosing big money,
thats what i learned from Market.
so its better to be safe then sorry market will always move and tomorrow or even next week ther will be movement it never stops,
so we will make money,
just dont get your emotions get the Better of you,
"Trade with Strategy and Planning, not with Emotions"
Don't compare your Trades with Others
  • #761,154
  • Jul 26, 2023 4:23am Jul 26, 2023 4:23am
Quoting TheWraith
{quote} If I make enough pips before the Fed, then I'm out of Long.
Good idea. A pullback to upside until FOMC is possible. Kind of like a liquidity grab move.
You have to have an IQ higher than 90 to interact with this user.
  • #761,155
  • Jul 26, 2023 4:24am Jul 26, 2023 4:24am
Before reversal at least bull touching 1.2920/40
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #761,156
  • Jul 26, 2023 4:28am Jul 26, 2023 4:28am
Quoting Pat Chiko
{quote} Somebody sent me a private message. Asking : " I just want to know who this is... Asking for a friend of course." {image} she sit right at the back... Lol.... I will ask her and post in your inbox....
Got to be careful these day
You got to take make up off to find out.
  • #761,157
  • Jul 26, 2023 4:31am Jul 26, 2023 4:31am
Quoting DubaiFX
{quote} Ok We are at 1.29 Nice, Now for me i its wait and watch Time, i may sell on Fed Press conference if Powel repeated Higher for longer then i will sell heavy, if not then i will wait for Thursday. THATS MY pLAN.
12950 close by, but loosing out.
To me 12850 level before the news.
  • #761,158
  • Jul 26, 2023 4:32am Jul 26, 2023 4:32am
GBP/USD 30M

Candle bounced off of S2 (Yellow line) and closed right back above the Supports. Should be good still for Buy.
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  • #761,159
  • Edited 4:52am Jul 26, 2023 4:35am | Edited 4:52am
Have you noticed yesterday EU was sold while GU was bought? Do you know why?

PMI numbers for EU and UK was not promising, while for US$ better.
Only one thing could be EG was sold.
EU and GU positive correlate, yet not always.
  • #761,160
  • Jul 26, 2023 4:35am Jul 26, 2023 4:35am
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Slight change of plan. I’m the day chart we can se price come back to the tl so on the 5 min chart we changed tac . But awaiting the ema touch to see if ..? If we get any sign of shorting
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