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Cable Update (GBPUSD)

  • #771,881
  • Sep 1, 2023 8:53am Sep 1, 2023 8:53am
Quoting dantpm
{quote} Typically 240k jobs are added so the add was below normal. That should be a concern for the FED suggesting the economy has tightened too much, it should defer rate increases and be dollar weakness.
that’s exactly what I think. Otherwise I’d have quit my 5-6 week losing trade and jumped to scalp away and rebuild over the next few weeks however I sense we are in the end of the drop and as long as the pound can stay above 125 we should be looking at 130 this month
Insane in the Brain..
  • #771,882
  • Sep 1, 2023 8:54am Sep 1, 2023 8:54am
Now add below expected wage increases, higher unemployment and remember fewer jobs created in JOLTS. Round this off with an economy still contracting according to all of the PMI numbers below 50. Where is the US$ strength?
  • #771,883
  • Sep 1, 2023 8:57am Sep 1, 2023 8:57am
Quoting dantpm
Now add below expected wage increases, higher unemployment and remember fewer jobs created in JOLTS. Round this off with an economy still contracting according to all of the PMI numbers below 50. Where is the US$ strength?
It is just a liq grab imo, buy opportunity for bigger players like banks & institutions. Otherwise, no fundamental reason for USD to strenghten.

Moves this big and fast vanish fast as well. It doesn't look like a healthy drop
You have to have an IQ higher than 90 to interact with this user.
  • #771,884
  • Sep 1, 2023 8:59am Sep 1, 2023 8:59am
Quoting dantpm
{quote} Typically 240k jobs are added so the add was below normal. That should be a concern for the FED suggesting the economy has tightened too much, it should defer rate increases and be dollar weakness.
Just my 3cents. they will have to defer rate increases and start to lower.

The way things stand right now with high bank failures the fed will lower rates soon.. And most banks are tightening their lending standards to nearly the highest level since 2008 and now there is lower demand for loans, so this should lead to lower interest rates to come.

Anyway we will know soon enough. Market Speaks
  • #771,885
  • Sep 1, 2023 9:01am Sep 1, 2023 9:01am
Quoting Scotteyy
{quote} For me I avoid the number completely, I just keep an eye on the news so I know when to expect volatility. Personally I wont specifically trade news, I just trade according to my strategy, but if I have trades open I'll typically do the following: If they are close to my TP, exit trade. Halfway to TP, move stop to BE. At break-even, decide if I want to gamble that day. Currently in a loss, just keep it open and see what happens. I find price action during news very chaotic and difficult to read so in most cases I prefer to err on the side...
Scotteyy, 1.2578 is the number to watch according to my method of trading
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Always trade your own plan...I don't provide trading signals.
  • #771,886
  • Sep 1, 2023 9:02am Sep 1, 2023 9:02am
Quoting Wavegarrick
{quote} See what you have done now. I am getting PM requests from folks here asking me to trade for them. Please Folks, I do not trade for anyone but myself. I am no signal provider. Well perhaps I am because I post my live trades here. On 2nd thoughts, I think I should start giving cryptic clues only. You must ask robknob and chiko if you want someone to trade for you. I have a business which keeps me very busy and forex is a secondary acitivity only. Thanks for understanding
Just been on your business website Leon, just a quick question how much do you sell these for can't find a price anywhere...
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  • #771,887
  • Sep 1, 2023 9:02am Sep 1, 2023 9:02am
Quoting Nordling
{quote} It is just a liq grab imo, buy opportunity for bigger players like banks & institutions. Otherwise, no fundamental reason for USD to strenghten. Moves this big and fast vanish fast as well. It doesn't look like a healthy drop
Forgot to add PMIs, they are better than forecast, yet still below 50. which means economic activity is lower than the previous month. Not a single data giving FED the upper hand
You have to have an IQ higher than 90 to interact with this user.
  • #771,888
  • Sep 1, 2023 9:07am Sep 1, 2023 9:07am
Quoting Nordling
{quote} Forgot to add PMIs, they are better than forecast, yet still below 50. which means economic activity is lower than the previous month. Not a single data giving FED the upper hand
Specifically IMI Manufacturing prices are still declining!
  • #771,889
  • Sep 1, 2023 9:08am Sep 1, 2023 9:08am
Don't be suprised to see PWLo PMLo after london closes... any ways see u next week...
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  • #771,890
  • Sep 1, 2023 9:15am Sep 1, 2023 9:15am
Seems to be a hangover from end of month. Its Friday dropped more than it should have. It’s also a long weekend too so volumes will be more in profiteering level
Insane in the Brain..
  • #771,891
  • Sep 1, 2023 9:16am Sep 1, 2023 9:16am
Quoting Waveskierrob
{quote} Just been on your business website Leon, just a quick question how much do you sell these for can't find a price anywhere... {image}
Waveski, if you glue yourself to this thread you will never miss such detailed analysis that could rake you 1000s of pips and give you an 1164 profit factor.
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Always trade your own plan...I don't provide trading signals.
  • #771,892
  • Sep 1, 2023 9:23am Sep 1, 2023 9:23am
Quoting Wavegarrick
{quote} See what you have done now. I am getting PM requests from folks here asking me to trade for them. Please Folks, I do not trade for anyone but myself. I am no signal provider. Well perhaps I am because I post my live trades here. On 2nd thoughts, I think I should start giving cryptic clues only. You must ask robknob and chiko if you want someone to trade for you. I have a business which keeps me very busy and forex is a secondary acitivity only. Thanks for understanding
Sorry Leon didn't realise at first but great bit of marketing, I see what you have done there, hats off to you, hope you get more PM's from it and more punters, you are a fucking genius ...
  • #771,893
  • Sep 1, 2023 9:27am Sep 1, 2023 9:27am
Quoting Coreg2004
{quote} Waveski, if you glue yourself to this thread you will never miss such detailed analysis that could rake you 1000s of pips and give you an 1164 profit factor. {image}
..is that a live trade chart..., seems to me like it was posted after the trades went into profit...we need to get a proper definition of a live trade on this thread as some don't seem to know...
  • #771,894
  • Sep 1, 2023 9:38am Sep 1, 2023 9:38am
Quoting Waveskierrob
{quote} ..is that a live trade chart..., seems to me like it was posted after the trades went into profit...we need to get a proper definition of a live trade on this thread as some don't seem to know...
You're such a loser dude. You wear it like a badge of honor.
Trade at your own risk.
  • #771,895
  • Sep 1, 2023 9:42am Sep 1, 2023 9:42am
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  • #771,896
  • Sep 1, 2023 9:43am Sep 1, 2023 9:43am
Quoting Waveskierrob
{quote} ..is that a live trade chart..., seems to me like it was posted after the trades went into profit...we need to get a proper definition of a live trade on this thread as some don't seem to know...
Of course not live...but the post is fun like hell...imagine the weather forecast...Our system might suggest that minor rain will be here in a few hours but sunshine is possible too.
Always trade your own plan...I don't provide trading signals.
  • #771,897
  • Sep 1, 2023 9:46am Sep 1, 2023 9:46am
Quoting Coreg2004
{quote} Of course not live...but the post is fun like hell...imagine the weather forecast...Our system might suggest that minor rain will be here in a few hours but sunshine is possible too.
A post that will never be wrong......love it when Leon's plan comes together...
  • #771,898
  • Sep 1, 2023 9:48am Sep 1, 2023 9:48am
Quoting Whale
{image}
Fingers crossed...
  • #771,899
  • Sep 1, 2023 9:55am Sep 1, 2023 9:55am
Quoting Waveskierrob
{quote} Fingers crossed...
price action.. the simplest

price will not make a new low, all S&R traders will think.. yes yes buy the support.
Losers will minimize their losses at 1.2625-1.265 and market will take it to a new low.

my opinion for now
  • #771,900
  • Sep 1, 2023 9:57am Sep 1, 2023 9:57am
Quoting bfx17
{quote} you dont know many things about him, arent you?
I only know what he's been talking here. He's a decent man as I can feel.
Nowadays, commercial people are everywhere on the internet , that's no big deal. A good one will keep sharing what he honestly considers good. It may not be suitable for everyone, you need to study survey more and make your own option and deceision. People need to be careful for scam, Navk? NO! Not for me. He never asks for anything from me. I admit the reason I bought a MFF account is kind of influenced by him (his posts in prop firm thread), I don't expect I can be so successful like him, but at least it's a good idea to spend small fee to open an account to treat your trades more seriously, quit some bad trading habits, taking more control over emotional bad reactions.
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