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Cable Update (GBPUSD)

  • #762,461
  • Jul 30, 2023 8:54am Jul 30, 2023 8:54am
Most people follow the herd, and they are like monkeys within a social hierarchy. Basically, a gang mentality. So, when you look at this thread you can see who are the monkeys that can't think for themselves and need to be part of a gang.

Herd mentality never sees things coming before they happen. They are always behind the curve.
Trade at your own risk.
  • #762,462
  • Jul 30, 2023 8:56am Jul 30, 2023 8:56am
Where's Pat?
  • #762,463
  • Jul 30, 2023 9:06am Jul 30, 2023 9:06am
Quoting juicebox
hi guys i'm new here...any word of advice ??
Yes, please dont follow anyone randomly. There are many idiots in this thread of which im one. Be very selective. And Absofuckinlutely dont give money to anyone offering to trade for you. Scammers are everywhere, Trust me on that but nothing else.
Trust no one, Question everything and do your due diligence


Ohfuck !!! 4got to say welcome to the Cable thread, Have fun
  • #762,464
  • Jul 30, 2023 9:13am Jul 30, 2023 9:13am
Quoting juicebox
hi guys i'm new here...any word of advice ??
Be very aware of the "after it's happened" posters of which there are many, I could list them but they would only go crying to Twee who is the moderator for this thread ... and everything T721 said......welcome Juicebox...
  • #762,465
  • Jul 30, 2023 9:15am Jul 30, 2023 9:15am
Quoting thevisitor
Where's Pat?
Attached Image
  • #762,466
  • Jul 30, 2023 9:20am Jul 30, 2023 9:20am
Quoting juicebox
hi guys i'm new here...any word of advice ??
Get a 9-5 job, stay away from this rollercoaster
You have to have an IQ higher than 90 to interact with this user.
  • #762,467
  • Jul 30, 2023 9:37am Jul 30, 2023 9:37am
Quoting thevisitor
Where's Pat?
You didn't hear? He's occupied with the prorcelain throne--horribly sick from the non-stop drama.
To free Gazans of Hamas, use whatever it takes.
  • #762,468
  • Edited 10:01am Jul 30, 2023 9:38am | Edited 10:01am
gbpjpy at a good resistance monthly , weekly and great resistance ahead but still in bull and hence range up likely over 172.122. so gbpusd may follow similar patterns .
no gu not in similar pattern of waves but same range top likely , so no straight bull apparently over signals 2590 and later 2307 , tl support may come forwards around 2424 and for last time ! so targets bull still remain the same , breaks the seemingly limit 131.59 for target 3374 and 3500.
so play safe at those ranges around a top!
Attached Image(s) (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #762,469
  • Jul 30, 2023 9:40am Jul 30, 2023 9:40am
Quoting T721
{quote}Yes, please dont follow anyone randomly. There are many idiots in this thread of which im one. Be very selective. And Absofuckinlutely dont give money to anyone offering to trade for you. Scammers are everywhere, Trust me on that but nothing else. Trust no one, Question everything and do your due diligence Ohfuck !!! 4got to say welcome to the Cable thread, Have fun
See that? SCAMMER ALERT!
To free Gazans of Hamas, use whatever it takes.
  • #762,470
  • Jul 30, 2023 9:45am Jul 30, 2023 9:45am
Quoting juicebox
hi guys i'm new here...any word of advice ??
If you have low tolerance for off-topic posts, then your patience will be sorely tried on a daily basis. And only you can decide if there is enough wheat among the chaff and if the wheat is of sufficient quality to justify remaining for harvesting.
To free Gazans of Hamas, use whatever it takes.
  • #762,471
  • Jul 30, 2023 9:47am Jul 30, 2023 9:47am
Quoting Fx3423454
Most people follow the herd, and they are like monkeys within a social hierarchy. Basically, a gang mentality. So, when you look at this thread you can see who are the monkeys that can't think for themselves and need to be part of a gang. Herd mentality never sees things coming before they happen. They are always behind the curve.
The problem here is, monkeys neither travel nor live in herds. . .
To free Gazans of Hamas, use whatever it takes.
  • #762,472
  • Jul 30, 2023 9:49am Jul 30, 2023 9:49am
Quoting DrDave
{quote} OOPS! You've called bullshit on me!
Hey Coreg, I'm pretty sure that he is calling bullshit on you, too.
To free Gazans of Hamas, use whatever it takes.
  • #762,473
  • Jul 30, 2023 9:58am Jul 30, 2023 9:58am
Fundamentals are abstract -you have to think like a market maker

Macro for next week:

US employment forecast figures for next week - look weak.
Fed has talked about being data dependant-so lets see
Although PMIs seem better.

BOE likely to hike- in spite of slowing growth and inflation. Wage inflation still high.
Lots of negative sentiment against Euro and to a lesser extent the pound.
26% chance of a 50 bp hike by the BOE. So a 25 bp hike could leave the pound vulnerable after cash rate meeting
Looking at the 10yr spreads Cable seems fairly priced. Banks seem overall negative on Cable

RBA has a cash rate meeting on Monday - and that will affect things.
Think its going to be an Aussie sell with GU joining in.
If Jolts is bad - then might look to long GU into the BOE meeting. Sentiment could change.
Perhaps long GBPAUD...

Also Monday is book balancing day- so could be some erratic volatility
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #762,474
  • Jul 30, 2023 10:01am Jul 30, 2023 10:01am
Quoting SFundamental
Fundamentals are abstract -you have to think like a market maker Macro for next week: US employment forecast figures for next week - look weak. Fed has talked about being data dependant-so lets see Although PMIs seem better. BOE likely to hike- in spite of slowing growth and inflation. Wage inflation still high. Lots of negative sentiment against Euro and to a lesser extent the pound. 26% chance of a 50 bp hike by the BOE. So a 25 bp hike could leave the pound vulnerable after cash rate meeting Looking at the 10yr spreads Cable seems fairly priced....
Nice post
  • #762,475
  • Jul 30, 2023 10:16am Jul 30, 2023 10:16am
Quoting Wavegarrick
{quote} This down move caught many of us by surprise yesterday, including me. I was fortunate enough for price to come back to me and managed to close my weaker trades for 58 pips profit from a nice big fat profit squandered. The nature of trading, then again we should expect this kind of thing to happen at month end. If price finishes the week back above my weekly pivot at 1.29303, bulls could be in for a shot. A close below 1.2850 could see 1.2500 in the near future. Monday will be the final day of the month so more volatile[/highlight]...
Good day Folks,
Everything in me is telling me to short with a retrace towards my future weekly pivot at 1.28669 ish (yellow high light) and I probably will throw in a couple of shorts at 1.28669 with some more towards 1.290000 with the aim of locking in very quickly. There is a caveat. We are on the last day of the month with my weekly pivots contracting so we could see volatile moves. A clear break below 1.27715 could see an acceleration in shorts. On the flip side, a clear break above 1.29303 could see an acceleration with longs. It's tricky and so it should be because it is the last day of the month. Trade very carefully tomorrow and don't get trapped in Long term moves.
Cheers.
Attached Image (click to enlarge)
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Trade to trade another day
  • #762,476
  • Jul 30, 2023 10:37am Jul 30, 2023 10:37am
Quoting Wavegarrick
{quote} Good day Folks, Everything in me is telling me to short with a retrace towards my future weekly pivot at 1.28669 ish (yellow high light) and I probably will throw in a couple of shorts at 1.28669 with some more towards 1.290000 with the aim of locking in very quickly. There is a caveat. We are on the last day of the month with my weekly pivots contracting so we could see volatile moves. A clear break below 1.27715 could see an acceleration in shorts. On the flip side, a clear break above 1.29303 could see an acceleration with longs. It's...
I would like to see between 12900-12920 for shorts. Think Monday will drop then up for the sell. I could very well be wrong but if i see the steam running out i will short for a swing. But i think this week will be very Tricky with a lot of games being played Just need to be careful, will see how it goes
Attached Image (click to enlarge)
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  • #762,477
  • Jul 30, 2023 10:43am Jul 30, 2023 10:43am
Anyway guys, am outta here for now. Gotta pick a friend up in 1hr. Hopefully get a ride or bj out of it. You never know but gotta try
  • #762,478
  • Jul 30, 2023 10:49am Jul 30, 2023 10:49am
Quoting T721
Anyway guys, am outta here for now. Gotta pick a friend up in 1hr. Hopefully get a ride or bj out of it. You never know but gotta try
bj that's disgusting...
  • #762,479
  • Edited 11:05am Jul 30, 2023 10:53am | Edited 11:05am
Week ahead outlook
Attached Image (click to enlarge)
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Monday - last day of the first month of 3rd quarter
More time in the market, does not mean you trade better!
  • #762,480
  • Jul 30, 2023 10:59am Jul 30, 2023 10:59am
Quoting Fardeen1209
Week ahead outlook {image} Monday - last day of the month and Quarter.
nice chart Fardeen
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