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Cable Update (GBPUSD)

  • #765,821
  • Aug 10, 2023 2:24am Aug 10, 2023 2:24am
In long --1.2752....tp- 1.2820, sl-1.2730

Acc to me , next 5 hrs will be full of action before CPI

It will be dead post CPI release
  • #765,822
  • Aug 10, 2023 2:24am Aug 10, 2023 2:24am
I have closed CAD/JPY at BE. Thankfully price returned to the price I entered the trades. MA's no longer suggesting Long. CAD/CHF I lost, but CAD/JPY I got out!

Since today is CPI, thankfully USD/JPY is in some profit and also far enough for now to put SL at zero for USD/JPY trades, so if it goes South at least I'll be at break-even.

The rest of the trades are going fine. AUD/NZD is perhaps the only one that is still neither here nor there.
  • #765,823
  • Aug 10, 2023 2:25am Aug 10, 2023 2:25am
the Market mind is well different, sellers lost their grip and plans for a deep dive was aborted by the resurfacing bulls who held the minor support from collapse. breakout of Critical Resistance as established at 1.278ish it could be all over for the day regardless of cpi values.
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Keep the Lights on then you can catch the rise from the dark.
  • #765,824
  • Aug 10, 2023 2:29am Aug 10, 2023 2:29am
Quoting BeeTogether
Morning all, 127 didn’t break overnight and despite what looks like good uS data expected later we have a spike. Is this rise a liquidity grab?
Possible inducement designed to pull retail in the wrong direction?
'Good' CPI numbers aren't necessarily good for the US$. That doesn't 'explain' this move other than to simply take you back to the area of the Friday close.
  • #765,825
  • Aug 10, 2023 2:32am Aug 10, 2023 2:32am
Quoting TheWraith
GBP/USD 15M Long 30M Long Hourly Just Confirmed Long H4 About To Confirm Long If H4 Candle closes above 1.275, Bulls are taking it away today. Perhaps low was 1.263... because it seems that today, we are going up.
GBP/USD

Looking bad for Bears. Damn, how much has the outlook changed already. Yesterday, I was all-in on USD, but today... different story.

EUR/USD H4 already confirmed Long with a Blue Line below other MA's suggesting that Zone will change from Sell Zone to Buy Zone.

Fellas, today it is only up it seems.

Meaning, CPI will fall short of forecast and will come in lower. Maybe we will see CPI Y/Y below 3%.
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  • #765,826
  • Aug 10, 2023 2:35am Aug 10, 2023 2:35am
classic London fake breakout...
chaos is just unknown order
  • #765,827
  • Aug 10, 2023 2:37am Aug 10, 2023 2:37am
Quoting dantpm
{quote} Possible inducement designed to pull retail in the wrong direction? 'Good' CPI numbers aren't necessarily good for the US$. That doesn't 'explain' this move other than to simply take you back to the area of the Friday close.
How good cpi will no be good for US$?
Market priced in for no further FED hike atm
But if headline CPI seems to come out greater than 3.3% consensus, trader might priced in for another 25bps. But we will still has Aug CPI figure before Sept FOMC.
On the risk side, US GDP is strong can hold another 2-3 % interest rate increase. So bullish for dollar.
However, if it comes at 3.1% - 2.9%, then we will have an external market structure shift, and my shorts will be stopped out. A new upswing will be in play. Will be looking for long setups.
More time in the market, does not mean you trade better!
  • #765,828
  • Aug 10, 2023 2:38am Aug 10, 2023 2:38am
Quoting MIKKI
{quote} So that's your final answer line &sinker
waiting for the signal
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yes yes yes
  • #765,829
  • Aug 10, 2023 2:44am Aug 10, 2023 2:44am
Quoting Fardeen1209
{quote} How good cpi will no be good for US$? Market priced in for no further FED hike atm But if headline CPI seems to come out greater than 3.3% consensus, trader might priced in for another 25bps. But we will still has Aug CPI figure before Sept FOMC. On the risk side, US GDP is strong can hold another 2-3 % interest rate increase. So bullish for dollar. However, if it comes at 3.1% - 2.9%, then we will have an external market structure shift, and my shorts will be stopped out. A new upswing will be in play. Will be looking for long setups.
'Good' CPI is less than expected and consistent with your no need for a rate increase assumption.
If this is priced in and then it is simply waiting to see how the market absorbs the news.
  • #765,830
  • Aug 10, 2023 2:45am Aug 10, 2023 2:45am
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yes yes yes
  • #765,831
  • Aug 10, 2023 2:50am Aug 10, 2023 2:50am
after successful hit bulls target , waiting see signal 2741 and limit 2732 for further correction if ! from 2753 may correct towards 2732 , so target may tl 2735 arounds ! take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #765,832
  • Aug 10, 2023 2:51am Aug 10, 2023 2:51am
Quoting dantpm
{quote} 'Good' CPI is less than expected and consistent with your no need for a rate increase assumption. If this is priced in and then it is simply waiting to see how the market absorbs the news.
Ohh..
In terms of economy, "Good" cpi is less than forecasted.
But in terms on currency "good" cpi mean more than consensus
More time in the market, does not mean you trade better!
  • #765,833
  • Aug 10, 2023 2:53am Aug 10, 2023 2:53am
through Swiss franc long every moves to the upside of other major are neutralized, another classic market behaviour during a sessions before big data release. started to sell
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chaos is just unknown order
  • #765,834
  • Aug 10, 2023 2:58am Aug 10, 2023 2:58am
Quoting Fardeen1209
{quote} Ohh.. In terms of economy, "Good" cpi is less than forecasted. But in terms on currency "good" cpi mean more than consensus
I believe that the convention is that you interpret economic indicators according to their impact on the economy.
You interpret financial indicators based on their currency impact. This always gets screwed up IMHO!
  • #765,835
  • Aug 10, 2023 3:00am Aug 10, 2023 3:00am
Gold/USD suggests Short... I'm really at loss here. If we look at currency pairs they all point to USD falling today on CPI, but Gold/USD says otherwise. Is there any scenario in which USD and Gold can fall together? Meaning Gold/USD staying in Range even though USD falls against other currencies? Hmm...
  • #765,836
  • Aug 10, 2023 3:01am Aug 10, 2023 3:01am
Quoting Luxyus
classic London fake breakout...
How do you know when it's a fake breakout or legitimate breakout?
  • #765,837
  • Aug 10, 2023 3:01am Aug 10, 2023 3:01am
Lower CPI and especially Core CPI, no rate hike from Fed! Even now, the concensus is that there is about 85% that Fed is done and only 15% chance that Fed will hike rates in September, meaning if CPI comes lower than expected there will be 100% no rate hike from Fed in September. Meaning, USD down.
  • #765,838
  • Aug 10, 2023 3:08am Aug 10, 2023 3:08am
Quoting pipfarm
EURUSD looks like long to me Although D1 is still below W1 and W1 has moved lower into MN 1 , therefore the current move is corrective and sure does look corrective with an impulse up to follow. As i have mentioned before all my charts have the current timeframes swings points plus the higher therefore it is more likely to see what D1 is doing from H4 far in advance of D1 and the chart says it all. H4 has moved into D1 territory with a counter swing down , suggesting the next move up will be long to complete the correction ( let me rephrase this...

Everything played out better than i expected,

GU gave an even better entry
EURUSD has moved the most so far and AUDUSD doing good

Swing continuation entries which is my usual entry method.

Unfortunately the markets do no seem to sleep when i do and i missed all three.
Follow The Markets Structure - Patience and Discipline
  • #765,839
  • Aug 10, 2023 3:09am Aug 10, 2023 3:09am
just went long on AUDUSD
We should make another high.
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  • #765,840
  • Aug 10, 2023 3:11am Aug 10, 2023 3:11am

Here's my plan before CPI

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