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Cable Update (GBPUSD)

  • #773,161
  • Sep 7, 2023 2:37am Sep 7, 2023 2:37am
GBP/USD drowning, while USD/JPY stagnant. Interesting... Price sure is rushing towards that Support at 1.241.
  • #773,163
  • Sep 7, 2023 2:39am Sep 7, 2023 2:39am
perfect breakout and testing 2460 sr . my a pullback try before 2400 run most probable ! take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #773,164
  • Sep 7, 2023 2:39am Sep 7, 2023 2:39am
So although data suggests mild growth, it appears raising rates is working very well, maybe a little too well, we are starting to see a giant weakness in housing.

I believe this is now the market pricing cuts in, as it won't be long before something gives, this is how i interpret it, please do not be afraid to humble me, as I do not claim to be all knowing all seeing eye of the fx market, and any counterpoint will strengthen my understanding of the markets.
  • #773,165
  • Sep 7, 2023 2:41am Sep 7, 2023 2:41am
Quoting TheWraith
GBP/USD drowning, while USD/JPY stagnant. Interesting... Price sure is rushing towards that Support at 1.241.
It's taking it's time to brew some
I'm short in UJ since Asian.
Currently price kinda fluctuating in the area.
My H4 shows a potential 147 by today or tomorrow.
Exhausted
  • #773,166
  • Sep 7, 2023 2:41am Sep 7, 2023 2:41am
Should bounce once S1 is hit
average dude treading water
  • #773,167
  • Sep 7, 2023 2:43am Sep 7, 2023 2:43am
Quoting redbars
So although data suggests mild growth, it appears raising g rates is working very well, maybe a little too well, we are starting to see a giant weakness in housing. I believe this is now the market pricing cuts in, as it won't be long before something gives, this is howi nterpret it, please do not be afraid to humble me, as I do not claim to be all knowing all seeing eye of the fx market, and any counterpoint will strengthen my understanding of the markets.
Noone's crazy enough to be buying a house right now with mortgage rates through the roof. So, yeah as demand fades away, sellers have to face a reality and start lowering the prices. It's a domino effect and eventually house prices should drop in the future and by how much noone knows.
  • #773,168
  • Sep 7, 2023 2:44am Sep 7, 2023 2:44am
GJ was lower than GU, so I chose GJ and went short. I went to full leverage, but I went to the week open and the EMA expanded and I closed.
After that, we just have to wait until we meet again, so it's a long break.

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  • #773,169
  • Sep 7, 2023 2:47am Sep 7, 2023 2:47am
Quoting sakimer
GJ was lower than GU, so I chose GJ and went short. I went to full leverage, but I went to the week open and the EMA expanded and I closed. After that, we just have to wait until we meet again, so it's a long break. {image}
The words full leverage and GBP/JPY should never be in the same sentence.. I'm as nervous as you are buddy!
  • #773,170
  • Sep 7, 2023 2:49am Sep 7, 2023 2:49am
Quoting AlfieSolomon
GJ long {image}
stopped out , long in again same entry
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  • #773,171
  • Sep 7, 2023 2:49am Sep 7, 2023 2:49am
Quoting TheWraith
{quote} Noone's crazy enough to be buying a house right now with mortgage rates through the roof. So, yeah as demand fades away, sellers have to face a reality and start lowering the prices. It's a domino effect and eventually house prices should drop in the future and by how much noone knows.
So far UK house prices are down 5.3% with another 5% coming
  • #773,172
  • Sep 7, 2023 2:49am Sep 7, 2023 2:49am
Dxi is at monthly resistance where could reverse or make a floor higher, which I think may be the case this time.

Be aware of the power.
  • #773,173
  • Sep 7, 2023 2:51am Sep 7, 2023 2:51am
Quoting Jolita
Dxi is at monthly resistance where could reverse or make a floor higher, which I think may be the case this time. Be aware of the power.
On the Weekly chart of DXY, weekly will confirm Long next week!

HOWEVER, monthly confirmed Short a month ago.

Weird situation.. suggests short term USD strength but then a fall in the upcoming months.
  • #773,174
  • Sep 7, 2023 2:52am Sep 7, 2023 2:52am
Quoting TheWraith
{quote} Noone's crazy enough to be buying a house right now with mortgage rates through the roof. So, yeah as demand fades away, sellers have to face a reality and start lowering the prices. It's a domino effect and eventually house prices should drop in the future and by how much noone knows.
It isn't just rates. It is also down payments and disposable income that have to be looked at for housing specifically.
With governments taking on more debt there is inflationary pressure in the economy that the government then tries to remove by raising rates more so the general expectation is that rates are probably going higher!
That is the general background then you have to look at the relative mix between countries.

Until the cycle is broken we are stuck in a rut.

What breaks the cycle?
Raising taxes on the rich to pay for the new debt.
Ending the economic drains like the war with Russia by finding some kind of peaceful resolution.
Cutting government programs that are wasting tax payer dollars.
  • #773,175
  • Sep 7, 2023 2:55am Sep 7, 2023 2:55am
Quoting TheWraith
{quote} The words full leverage and GBP/JPY should never be in the same sentence.. I'm as nervous as you are buddy!
i agree, been there. never again. GJ can be crazy at times
Exhausted
  • #773,176
  • Sep 7, 2023 2:55am Sep 7, 2023 2:55am
GU looks so tempting for a long entry here but i must resist at least until claims later. is anyone shorting at these levels?
  • #773,177
  • Sep 7, 2023 2:55am Sep 7, 2023 2:55am
Quoting TheWraith
{quote} The words full leverage and GBP/JPY should never be in the same sentence.. I'm as nervous as you are buddy!
  • #773,178
  • Sep 7, 2023 2:59am Sep 7, 2023 2:59am
GU It has spread sufficiently down to M5 from the daily chart, and M5 is approaching M15. The EMA set may be close. Today, the setup width was narrow at about 15 pips, so I couldn't get my hands on it, but it's still a little lower.

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  • #773,179
  • Sep 7, 2023 3:03am Sep 7, 2023 3:03am
Quoting TheWraith
{quote} On the Weekly chart of DXY, weekly will confirm Long next week! HOWEVER, monthly confirmed Short a month ago. Weird situation.. suggests short term USD strength but then a fall in the upcoming months.
DXY monthly sitting at donchian middle, if crosses trend is bullish towards the upper. But DXY likes to spike and reverse.
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  • #773,180
  • Sep 7, 2023 3:04am Sep 7, 2023 3:04am
Long 1.2465 SL 1.2445
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
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