Cable Update (GBPUSD) | Page 38632 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #772,621
  • Edited 4:43am Sep 5, 2023 3:39am | Edited 4:43am
Quoting birdland
{quote} "You track by being generic not specific/super-specific." ...i found this sentence helpful. and can only succeed with low leverage and wide stops. why is it a no-no to talk about trading manually, to not let market makers look at your book?
I only trade manually, No tp No sl ever ---- The Brokers can see all, your tp and your sl -- dont let thefuckers fuckyou
  • #772,622
  • Sep 5, 2023 3:40am Sep 5, 2023 3:40am
Quoting Waveskierrob
{quote} I hope people believe me when I say that this was just a guess, been underwater SHORT GU for sometime, just shows even wishful thinking works as a good indicator...
Wishful thinking sometimes work and sometimes not...



Just as indicator!
  • #772,623
  • Sep 5, 2023 3:40am Sep 5, 2023 3:40am
DXY is at resistance level , double top formation on daily and weekly chart . Dollar pull back is not unlikely , I did not say reversal but a pull back
With patience and discipline,you move beyond the sky
  • #772,624
  • Sep 5, 2023 3:42am Sep 5, 2023 3:42am
to bring some light into shadow:

The market had to move today. The reason for that was mainly holiday yesterday in USA. To gain new territories of orders the big players have to move the market away from the holiday highs/lows.

The drop now was too much so I was going long almost 8 times more than normal from 1.2552 to 1.2530 (corrected,sorry), sold everything after news rebound with a nice gain.

So when you wonder why the market is still not raising, although the "final services PMI" is way over expectations (48.7 expected, 49.5 real, good for GBP):
The reason for not a stronger correction now is simply they can't buy their positions back yet because they would not earn any money with that now.
Will the market go to 1.2552 today? Very likely. Will it go into 1.2565 area? probably. They wait now for weak hands to jump out of the market so they can close their shorts with your longs selling.

Market is not always in sync. The reasons for that can be different. But it is also market manipulation.

Are the big boys with their shorts now on the wrong side? Yes, they are. But they don't care (yet). That's what you make nervous now. That's what they want. In the end the one wins with the deeper pockets, better nerves or better analysis. Cheers
  • #772,625
  • Sep 5, 2023 3:42am Sep 5, 2023 3:42am
Quoting T721
{quote} I only trade manually, No tp No sl
I don't mind indicator being wrong and price hitting my SL. But I HATE price hitting SL and only then going where indicator suggested it will. This is the worst!
  • #772,626
  • Sep 5, 2023 3:48am Sep 5, 2023 3:48am
Short-lived respite brewing for the bulls.
Bears, big, fat ones, remain on the prowl.
  • #772,627
  • Sep 5, 2023 3:49am Sep 5, 2023 3:49am
Quoting Waveskierrob
{quote} I hope people believe me when I say that this was just a guess, been underwater SHORT GU for sometime, just shows even wishful thinking works as a good indicator...
Worth picking up some NZD/CAD here if it goes down add ----- Swinging it to 8300
  • #772,628
  • Sep 5, 2023 3:50am Sep 5, 2023 3:50am
Quoting mental9tyfx
Took my shot here - Day, H4 and H1 downtrend, Weekly and Daily central, 38.2 fib retrace, took during US Session, however Labour Day so thin liquidity. Hopefully the line is defended. GBPUSD M15 {image}

Turns out the level was defended - Help on to my conviction. Now waiting for US to open, may get another opportunity to short short again. If not, SL to BE and wait.

I'm seeing negative swap for GU across multiple platforms but OK on the others.. Anyone know why?


GBPUSD - M15
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_M15_05092023.png Size: 51 KB
  • #772,629
  • Sep 5, 2023 3:51am Sep 5, 2023 3:51am
Quoting JackintheBox
to bring some light into shadow: The market had to move today. The reason for that was mainly holiday yesterday in USA. To gain new territories of orders the big players have to move the market away from the holiday highs/lows. The drop now was too much so I was going long almost 8 times more than normal from 1.2552 to 1.2530 (corrected,sorry), sold everything after news rebound with a nice gain. So when you wonder why the market is still not raising, although the "final services PMI" is way over expectations (48.7 expected, 49.5 real, good for...

Until price tells me otherwise, im selling

price never lies
in wondering about yourself, you forgot what you came here to be part of
  • #772,630
  • Sep 5, 2023 3:54am Sep 5, 2023 3:54am
Quoting Robinhood1
{quote} You may be right about UJ. A bigger retrace could happen.
I'm out of positions including CHF/JPY Short I had up there.

With USD/JPY approaching 147 again, I'll just sit here and wait for either strong Short signal or intervention by Japan from this point. I stopped donating my money with those Shorts on Yen pairs! Also, I payed interest every night due to other CB's having higher IR's. One should start buying Yen when either recession comes (other CB's cutting rates) or Japan intervenes. I'm talking about long term trades (weeks and months).
  • #772,631
  • Sep 5, 2023 4:00am Sep 5, 2023 4:00am
Here you can see why the big boys habe an advantage over you: They currently sell their (wrong) shorts from the morning into market liquidity: The just need time to unwind their positions (today shorts).

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 123 KB



Of course they cannot even sell 20% of the whole drop that morning like that and also not in that short amount of time. But that doesn't matter for them. They just have to buy back a bit to that quotes,- the overall result is important for them. They use lots of position and money management so it is enough for them to trade like that.

When they are done and could sell enough they attack again for new lows. If not, they would take the market back into next retrace area (1.2555 for example). Currently it seems they found enough sellers to buy their shorts back so the attack again.

You could go long now at 1.2535 - it is an area of interest. If it will be a turning point only the big ones knows because they know how much volume they could unwind. That's the problem of us, the retail traders. We don't know. You have to build systems for yourself around that behaviour. I specialized on that and use only little technical analysis (which bytes me sometimes in the ass).

One more apect why they are so calm is because we are still in europe session so they control a lot of the volume and swings. When US-Boys step in volatility comes in because they cannot control the market anymore that good. So EU-Session is always a bit careful to be traded as a counter trend trader. It can make someone nervous after a huge drop like that morning and no big retrace. Will it go to 1.2550's area today? Currently it looks like it.
So it was a good speculation at 1.2535 (which i mentioned few minutes earlier) to take the trade.

I left it and did not take the 1.2535. The reason for that is I only trade really good trades where I feel comfortable and then I can risk much more and I have my emotions under control.
  • #772,632
  • Sep 5, 2023 4:00am Sep 5, 2023 4:00am
Quoting BrainBucks
Short-lived respite brewing for the bulls. Bears, big, fat ones, remain on the prowl.
Yes and no.. this could be respite for the bulls before a move above 130. Remember this area hasn’t been fully cracked yet
Insane in the Brain..
  • #772,633
  • Sep 5, 2023 4:01am Sep 5, 2023 4:01am
Attached Image (click to enlarge)
Click to Enlarge Name: dx.png Size: 15 KB

Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 15 KB
yes yes yes
  • #772,634
  • Sep 5, 2023 4:03am Sep 5, 2023 4:03am
Quoting BrainBucks
Short-lived respite brewing for the bulls. Bears, big, fat ones, remain on the prowl.

Can you explain a bit further, after looking at the data, it suggests that the uk is performing better than the eu, its actually growing out of a recession whereas eu is fucked, the fed will most likely keep rates as is, and the uk is planning to continue hiking.

Maybe I've missed alot and I know my knowledge is skewed (could argue biased even) as its impossible to know everything, but what I see is the uk actually has a chance to grow out of this. Despite the housing market situation, which is probably its biggest threat.

Macro outlook is now bullish imo.
  • #772,635
  • Sep 5, 2023 4:04am Sep 5, 2023 4:04am
Quoting knkie
{quote} Until price tells me otherwise, im selling price never lies
That's perfectly fine. I try to trade as short as possible, that's why I take such trades. For me it is easier to calculate short moves because for me it gets more and more difficult to "predict" future movements up or down the longer the time frame of trading is for me. The technical reason behind that is: The longer the big boys have time, the more crazy moves they can do because they have the time factor of unwinding positions on their side. I try to avoid that. Cheers
  • #772,636
  • Sep 5, 2023 4:10am Sep 5, 2023 4:10am
imo these are buy levels. (1.2540)
trading is like dancing, don't think and just listen to the music!
  • #772,637
  • Sep 5, 2023 4:11am Sep 5, 2023 4:11am
Quoting redbars
{quote} Can you explain a bit further, after looking at the data, it suggests that the uk is the best performing country outside of the US, its actually growing out of a recession whereas eu is fucked, the fed will most likely keep rates as is, and the uk is planning to continue hiking. Maybe I've missed alot and I know my knowledge is skewed (could argue biased even) as its impossible to know everything, but what I see is the uk actually has a chance to grow out of this. Despite the housing market situation, which is probably its biggest threat....
I get your point. Well, currently the GBP gets some pre-expectations that THEY SHOULD get better out of recession as others. These thoughts are build on weak hands so if numbers change a bit we see GBP weaken fast again, especially against Euro to 0.87 area.
The USD is currently stronger than GBP because numbers show a much better growth out of depression. Euro Area looks worser now from all of the big countries so euro is weaker against GBP and USD-Dollar.
  • #772,638
  • Sep 5, 2023 4:12am Sep 5, 2023 4:12am
Quoting TheWraith
{quote} Wishful thinking sometimes work and sometimes not... Just as indicator!
always 50/50...
  • #772,639
  • Sep 5, 2023 4:13am Sep 5, 2023 4:13am
Quoting birdland
imo these are buy levels. (1.2540)
yes, I see buys all the way to 124. We have been above the 125 level for most of this half of the year. Unless the UK hits recession like an iceberg we could be in this 125-128 range for a while
Insane in the Brain..
  • #772,640
  • Sep 5, 2023 4:15am Sep 5, 2023 4:15am
Quoting JackintheBox
.... You could go long now at 1.2535 - it is an area of interest. If it ...
If you did so, you could unwind now 1/2 of your position, 1.2546 is again area of interest. The rest you could sell at 1.2555's area (very likely now).
323 traders viewing now