Cable Update (GBPUSD)

CPI Y/Y should come out slightly above 7% based on the average drop in CPI Y/Y.

Average drop seems to be around 0.7 to 0.8%.

Big bets are happening for a stock market crash . Watch for USD could pump it hard

We just witnessed admission finally from RBNZ that New Zealand is in recession. Imagine the same sentence from Fed..

long sl 2685

Very clever of the U.K. to have inflation keep dropping but have their forecasts slightly below expectations so that GBP doesn't sell off.

Just above yeah.

Wow even this data is sort of stalemate, seems like 126-128 is the range area, need to break it or this is going to be another since fest!

I think London will push price up after open to 1.2775. then, we'll see..

Half position closed for 20 pips. Will trail the second half

Are we chasing Yesterday's H

Oh well not much to interpret, they could add another decimal

Slight pull back then

Bloomin' heck, NOW?

If considering recent news of Michael Burry, Big Shortie, note the reported options positions in a quarterly financial statement, were made 50 days ago. Equally suspect, the $1.6bn in reported Put Options, is actually a notional value at best (highly Leveraged)

Facts: Michael Burry did not spend $1.ton shorting US equities. The holdings are of 30th June (quite a long time in markets).

Bang on the money Mr T, closed half my FTSE SHORTS...

I don't even understand his comment. He comments just to comment... without providing anything useful.

Perhaps someone does find his comments useful, but I'm not.

My weekly resistance 1 at 1.27824 is a fair target, having said a daily close above 1.28000 could send this pair way higher.
Cheers.

Hey mate,
Appreciate your input and certainly, you've got some impressive insights gleaned from your 2 years of trading. However, I'd like to shed some light on a few points, if you'll entertain a different perspective.

Firstly, Wyckoff's theory, as you know, was developed in the era of the stock market, but it's essential to remember that it was designed to decode the intentions of 'composite men' - the big players. The principle remains the same regardless of the market or the timeframe.

The reason I find the 4H timeframe valuable when applying the Wyckoff method is due to its balance between market noise and long-term trends. It provides a clearer picture of price action compared to lower timeframes, while still capturing significant market movements.
While some may argue that the Wyckoff method is not suitable for the 4H timeframe, I believe its validity is not solely determined by the timeframe but rather by several other factors. The market environment, volume analysis, and individual trading style all play crucial roles in evaluating the effectiveness of the Wyckoff method on any timeframe.
The Wyckoff method is designed to decode the actions of market participants, regardless of the timeframe. By using the 4H timeframe, you are able to capture meaningful market structure shifts and identify potential trading opportunities.

As for the AR producing a clear Market Structure Shift (MSS) on the 4hr timeframe, it's worth noting that this isn't a hard and fast rule. ARs can indeed lead to an MSS, but they don't always have to for a Wyckoff setup to be valid. It's more about understanding the overall market structure and the actions of the 'composite men'.

Now, about the Demand zone becoming tradeable after the first Higher High (HH), it's a strategy many traders use and can indeed be profitable. However, it's not the only strategy, nor is it always the most effective one. Trading is a lot about context and the constant evaluation of risk/reward scenarios.

I totally agree that higher timeframe Wyckoff events can be more impactful, but let's not disregard the lower timeframes which offer their own opportunities, especially for those who know how to manage their risks effectively.

Finally, the beauty of trading lies in its subjectivity. What works for you might not work for others and vice versa. The key is to find a method that suits your own style and risk tolerance. We're all here to learn and grow, right?
Cheers!

partial close...more rocket at nyo

Sorry bout the timing took a bit longer getting there than i would have liked, but we did eventually, long wait but paid off


EDIT :: iwanted the level to hit last friday but was wrong by 2 days, oh well cant get it right everytime