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Cable Update (GBPUSD)

  • #773,761
  • Edited 12:29pm Sep 10, 2023 7:36am | Edited 12:29pm
Quoting pipfarm
Love it , all the forecasters are out when in reality all you have to do is follow what the chart is telling you , so simple yet so overcomplicated.
Agree, but now indecision status both fundamental and technical facts , 1.245 is a good level for bull.
As TheWraith said, the next coming weeks in September will very likely a big deal trend, It's a nice timing to grab some nice premium / discount price positions. I will wait the oversold / overbought pullback to enter. Avoid squeeze sessions.

reasons for bull -
when news and experts forecast all point to sell, consider buy setup /net long instead. Couple of times, I found they forecast with a big title showing momentum, and mention that would happen maybe couple of months later in the article.
1.245 good buy level
UK has nice cooperation deals with Singapore and India.
USA has banks problem still going on.

reasons for bear -
DXY has potential impulse to reach 110. (an anaytist said when DXY broke down below 100.)
GU price still under my MA bear line.
UK airport offers exchange machine that people can exchange GBP to EURO with lower then 1:1 rate. This catches my curiousity. I think there're revolutionary things undergoing.

Pound to Euro Rates for Buying Holiday Money Below Parity at UK Airports (poundsterlinglive.com)
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  • #773,762
  • Edited 9:47am Sep 10, 2023 8:29am | Edited 9:47am
Quoting Bones
monitor the open for weekly bias. {image}
I am inclined to bullish scenario for the week ( or atleast until CPI release )
Intraday only.
  • #773,763
  • Sep 10, 2023 8:43am Sep 10, 2023 8:43am
Next stop
How to succeed in zero sum game?
  • #773,764
  • Sep 10, 2023 8:50am Sep 10, 2023 8:50am
Quoting Wavegarrick
{quote} Hi Tv. Current status. Nothing to hide. I did take advantage of the little up move and booked some. I have some buy trades below my DP. I expect some sort of pull back on Monday either towards my future daily pivot blue highlight at 1.24741 ish, least to say my yellow highlighted future weekly pivot at 1.25161 ish. Nothing cast in stone. Little clues for me is a daily higher high and higher low but concerning is a daily lower close. I take it as it comes and no need for panic. {image} My overall status with 15 buy trades and 14 sell trades...

what about all those losses sir? Just attach your TE and stop the maddness will you?
How to succeed in zero sum game?
  • #773,765
  • Sep 10, 2023 8:56am Sep 10, 2023 8:56am
Quoting DrDave
{quote} I see you stated that 8640 "controls a cycle". So is 8640 the cycle, or is it 1440? In any case you have selected 8640 as the important parameter. It seems to me that you arbitrarily selected 10 minute TF with the parameter 864. And that would yield 1 minute TF of parameter 86.4. What about just rounding that up to 90? But from another view, if 1440 is the circle and 6 merely a "control" factor, then the 1 minute TF parameter is merely 1X6 = 6, and the 10 minute TF parameter 60.
8640 minutes= 1°
POSTMASTER
  • #773,766
  • Sep 10, 2023 9:23am Sep 10, 2023 9:23am
Quoting axecap
{quote} There will be better ways to play JPY strength when it comes. I expect USD to be strong for some time yet while GBP, CHF, NZD, EUR etc are all weakening. UJ will react initially but the longest and quickest ride will be with the crosses.
wolf wave tells me that eur/jpy will fall. Actually, there is currently a lack of balance on this pair.
M30.
we'll see.
  • #773,767
  • Sep 10, 2023 9:37am Sep 10, 2023 9:37am
Quoting pipfarm
Love it , all the forecasters are out when in reality all you have to do is follow what the chart is telling you , so simple yet so overcomplicated.
GBP/USD Charts:

Smaller possibility of small correction on smaller TF's

Higher probability of further drop on larger TF's
  • #773,768
  • Sep 10, 2023 10:40am Sep 10, 2023 10:40am
Quoting Robinhood1
{quote} 8640 minutes= 1°
Oh. So that makes for a cycle of nearly 6 years. Or about 10 years if you use a trading year of 200 days.
To free Gazans of Hamas, use whatever it takes.
  • #773,769
  • Sep 10, 2023 10:54am Sep 10, 2023 10:54am
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Dempire, LOL
A TE of 2 weeks and you are crying victory. You are wet behind the ears and I will show you just why.
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A 6 pip per trade average with and average 8 to10 percent draw down on a small scalp? Tells me you do not take losses timorously
55% winning average on a scalp strat. Not good enough. A scalp strat should be between 70 and 85 Percent.
One quick move and you are going to blow your account I do not see you have your TE for more than a month.
Show me yours and I will show you mine???: Well I am afraid, mine is too big for yours and I will embarrass you.
Three months of my closed trades should be good enough for you and if I go back further I will make you look very small
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Adios.
Trade to trade another day
  • #773,770
  • Sep 10, 2023 11:10am Sep 10, 2023 11:10am
Quoting Wavegarrick
{image} Dempire, LOL A TE of 2 weeks and you are crying victory. You are wet behind the ears and I will show you just why. {image} A 6 pip per trade average with and average 8 to10 percent draw down on a small scalp? Tells me you do not take losses timorously 55% winning average on a scalp strat. Not good enough. A scalp strat should be between 70 and 85 Percent. One quick move...
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  • #773,771
  • Sep 10, 2023 11:19am Sep 10, 2023 11:19am
Quoting Bones
monitor the open for weekly bias. {image}
playing through all weekly srs . testing tl as pull back after breakouts in a top failure mode , nearing a floating supposed channel support around 2420 , and previous low 2308 . so a weekly limit up 2540 price may test previous low and if a bottoming them may few weeks even playing arounds ! so pressure remain down ! lets see
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #773,772
  • Edited 11:51am Sep 10, 2023 11:25am | Edited 11:51am
Quoting TheWraith
{quote} Honestly? Higher probability I won't and will Short GBP/JPY and CHF/JPY instead. If there is a downturn coming, USD won't be doing badly as GBP for example against JPY, that's why. This week I'll go Long USD/JPY, very probably! When Fed comes, I'm done Buying USD, because I'm scared of Japan after Powell is done talking and propping USD. In the week with Fed, BoE, SNB this is when I expect a deep correction to finally happen on Yen either via intervention or something else (before CB hikes currency appreciates, on the day of rate hike it...
i wouldnt count on a BOJ intervention just yet..im gona post a longterm monthly chart outlining why in TA but first.....

fundamentally which i try not to use but some do ill so ill just say japan intervened three times in a month ..... on sept 22nd they were part of that coordinated effort to save GU then a month later on oct 21st and 24th they did it again..probably in another coordinated effort to save GU after truss resigned

the dollar is over that sept 22nd limit and going to break the october ones

when i look at a longterm monthly chart going back 40 years ...the japanese shot their wad a bit early as you can see from the chart. oct. 2020 candle price closed above that 1998 high marked by the red line even with that late oct. month intervention...the dollar reacted but wasnt in a hurry to do it LOL

any tech analyst at the BOJ bank would have prefered to dump at the blue line or better yet at the black for maximum effect but they had to hurry cause of the brits so i wouldnt anticipate or expect a boj intervention till price was over 150 and closer to 160....however they could wait till the black line and not cause some permanent damage to their economy

i know nobody cares and will do what they want but i wont be shorting UJ anytime soon and ill watch with amusement when others do cause there so many dollar haters on this site...nobody ive ever talked to concerning the dollar can give me a reasonable TA account of why the dollar is supposed to fall...there plenty of usd haters on the gold thread losing their accounts going long gold and its always about some america is evil with immense debt and starts trouble around the world argument and BRICS will teach them humility argument LOL

i just laugh at them to myself not publically and watch as they bitch cause they blew up another account


this is strictly TA but if someone wants to mark other japanese interventions it might shed more light on the situation

good luck you all
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short trump and go long the deepstate
  • #773,773
  • Edited 11:46am Sep 10, 2023 11:35am | Edited 11:46am
I am expecting a direct green daily candle today with less to min. Down move and for tomorrow a green daily candle as well i think from weekly perspective 1.25600-900 is good zone to reverse and register new low …
this is my short term analysis of course i can be wrong… i feel a fakeout to 1.25600 zone is a good place to sell this week
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Extreme gut feeling trader
  • #773,774
  • Sep 10, 2023 11:40am Sep 10, 2023 11:40am
Anyone interested in us30 my gut feeling a nice opportunity to register 35000 this week… i am only looking to buy dips …
Extreme gut feeling trader
  • #773,775
  • Sep 10, 2023 11:43am Sep 10, 2023 11:43am
Quoting DrDave
{quote} Oh. So that makes for a cycle of nearly 6 years. Or about 10 years if you use a trading year of 200 days.
Does not have to perform a full cycle. Can Bounce back and forth from specific angles. You are a smart trader, may resolve it
POSTMASTER
  • #773,776
  • Sep 10, 2023 11:46am Sep 10, 2023 11:46am
Quoting Robinhood1
{quote} Does not have to perform a full cycle. Can Bounce back and forth from specific angles. You are a smart trader, may resolve it
Setting 72 on 2h TF is good
POSTMASTER
  • #773,777
  • Sep 10, 2023 11:52am Sep 10, 2023 11:52am
Quoting Zebi
{quote} i wouldnt count on a BOJ intervention just yet..im gona post a longterm monthly chart outlining why in TA but first..... fundamentally which i try not to use but some do ill so ill just say japan intervened three times in a month ..... on sept 22nd they were part of that coordinated effort to save GU then a month later on oct 21st and 24th they did it again..probably in another coordinated effort to save GU after truss resigned the dollar is over that sept 22nd limit and going to break the october ones when i look at a longterm monthly chart...
just checking usdjpy . may try best to test yearly high 22 , but hope not this year , 150 ok though as 23 high . so bull but not in straight line . there remain a good intention play below 128.36 before bull for 175! take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #773,778
  • Sep 10, 2023 11:53am Sep 10, 2023 11:53am
fib extension 1.618 a good buy area? ..previously at this level there was an order block too..any views?
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  • #773,779
  • Sep 10, 2023 11:58am Sep 10, 2023 11:58am
thats it for me cause its football time

and i still havent placed all my bets LOL
short trump and go long the deepstate
  • #773,780
  • Sep 10, 2023 12:00pm Sep 10, 2023 12:00pm
Quoting Zebi
{quote} i wouldnt count on a BOJ intervention just yet..im gona post a longterm monthly chart outlining why in TA but first..... fundamentally which i try not to use but some do ill so ill just say japan intervened three times in a month ..... on sept 22nd they were part of that coordinated effort to save GU then a month later on oct 21st and 24th they did it again..probably in another coordinated effort to save GU after truss resigned the dollar is over that sept 22nd limit and going to break the october ones when i look at a longterm monthly chart...
Good post! You could be right of course, that USD/JPY has a way to go up more before correction takes place. With that my charts agree with for which reason I'll be Long USD for the time being.

I would be a little bit confused to see USD/JPY getting closer to 160, because it doesn't make sense for Japan to intervene at 160 to 154-3, because above 150 is already too high according to Japan.

UNLESS!, you are right about UK. I heard that story too!

We'll see once DXY gets to 107.6. The system suggests this will be critical Resistance for DXY.
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