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Cable Update (GBPUSD)

  • #783,941
  • Oct 18, 2023 1:30am Oct 18, 2023 1:30am
Quoting Wavegarrick
{quote} Update on my buying spree yesterday. Booked a nice amount of profit. Rest locked at break even and some and price must do what it has to. Cheers. {image}
So Leon how come the prices you posted don't correspond with the prices on your chart...
  • #783,942
  • Oct 18, 2023 1:33am Oct 18, 2023 1:33am
Good morning from this side of the world.
Finally have something on GU

The idea is illustrated in the attached chat. Should be fun to see how it pans out.
Cheers
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  • #783,943
  • Oct 18, 2023 1:33am Oct 18, 2023 1:33am
Quoting Fardeen1209
Price rejecting at 50% fib level {image}
2 setup
Wont touch GU until either happend
1st option
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Less possibility to happen suported by fundamental reason hotter CPI

2nd Option
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More probable align with EU too and GBP fundamental and Dollar weakness
More time in the market, does not mean you trade better!
  • #783,944
  • Oct 18, 2023 1:34am Oct 18, 2023 1:34am
as long as dxy still in bearish, i guess GU will still bullish..
i watch on 22400
  • #783,945
  • Oct 18, 2023 1:39am Oct 18, 2023 1:39am
In short 1.22-- 1st short

Sl_ 1.2245

Tp- open
  • #783,946
  • Oct 18, 2023 1:40am Oct 18, 2023 1:40am
Quoting Fardeen1209
{quote} 2 setup Wont touch GU until either happend 1st option {image} Less possibility to happen suported by fundamental reason hotter CPI 2nd Option {image} More probable align with EU too and GBP fundamental and Dollar weakness
I agree with 2nd option also. Let's see if London is strong/ willed enough to make the first push up.
  • #783,947
  • Oct 18, 2023 1:42am Oct 18, 2023 1:42am
Quoting Fardeen1209
{quote} 2 setup Wont touch GU until either happend 1st option {image} Less possibility to happen suported by fundamental reason hotter CPI 2nd Option {image} More probable align with EU too and GBP fundamental and Dollar weakness

I agree with the 1st option....US data has been good, little bit green shoots in UK cpi doesn't guarantee a rate hike

LO will reinforce the downtrend
  • #783,948
  • Oct 18, 2023 1:45am Oct 18, 2023 1:45am
Think from MM perspective, entire retail is bullish...they will obviously get the mkt down to atleast S1 1.2135
  • #783,949
  • Oct 18, 2023 1:47am Oct 18, 2023 1:47am
Quoting cablekingdom
{quote} I agree with the 1st option....US data has been good, little bit green shoots in UK cpi doesn't guarantee a rate hike LO will reinforce the downtrend
With the current PA, Option 1 is more probable
But my system does not allow me to short a mitigated 4hr Supply zone that coming for a HL for the 2nd time. Chances for it to break becomes high
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Do not have any other choice but just to follow the preset rule
More time in the market, does not mean you trade better!
  • #783,950
  • Oct 18, 2023 1:48am Oct 18, 2023 1:48am
setting up best bid price for london
chaos is just unknown order
  • #783,951
  • Oct 18, 2023 1:48am Oct 18, 2023 1:48am
Quoting cablekingdom
Think from MM perspective, entire retail is bullish...they will obviously get the mkt down to atleast S1 1.2135
it will test 2219 before going down
  • #783,952
  • Oct 18, 2023 1:50am Oct 18, 2023 1:50am
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yes yes yes
  • #783,953
  • Oct 18, 2023 1:52am Oct 18, 2023 1:52am
Quoting dantpm
{quote} The green CPI data actually indicates that inflation is still a problem in the UK so more interest rate hikes on the horizon. With recession fears on the horizon from the interest rate hikes to date, not sure if the UK will want to go through with more hikes. I don't believe that price reflects the 'data' in this case, it is another move that simply reflects where MM's want price to go.
IMO, MM are shaking money from both buyers / sellers, maybe there're a lot of traders expecting 1.20 like me,
MM are really good at seducing and teasing. 1.22200 had been retested so many times, they just don't let go price down to 1.20.
I still hold SHORT from 1.22941 (profit hedge at 1.217) , will close if it reaches 1.22800.
  • #783,954
  • Oct 18, 2023 1:56am Oct 18, 2023 1:56am
Before London open....warmup profit
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Intraday Trading is an Art _ hoda
  • #783,955
  • Oct 18, 2023 2:00am Oct 18, 2023 2:00am
Quoting Konichiwhaat
That may change things. Large time frames still down but this news maybe the turning point. Will dissect this 1H close if we pull back to 2200 to see if its long time
Long
Emotional Control. Process, not outcome.
  • #783,956
  • Oct 18, 2023 2:03am Oct 18, 2023 2:03am
Another sentiment anomaly happening. Not only NZDUSD but EURUSD and others as well!
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  • #783,957
  • Oct 18, 2023 2:08am Oct 18, 2023 2:08am
Quoting dantpm
Another sentiment anomaly happening. Not only NZDUSD but EURUSD and others as well! {image}
I wouldn't put much weight on this. This is just FF, and I have never seen more than 30,000 people here online and most come and go and cannot trade constantly. To put it into perspective, there are over 800,000 retail traders just here in Japan, and most of them do not use FF website... something to think about
Emotional Control. Process, not outcome.
  • #783,958
  • Oct 18, 2023 2:11am Oct 18, 2023 2:11am
Quoting Konichiwhaat
{quote} I wouldn't put much weight on this. This is just FF, and I have never seen more than 30,000 people here online and most come and go and cannot trade constantly. To put it into perspective, there are over 800,000 retail traders just here in Japan, and most of them do not use FF website... something to think about
Agreed. It is a curiosity. Sentiment in the 40-60% range is considered neutral. I have never seen any indication of the correlation with lot %'s which suggests where retail money is.
  • #783,959
  • Oct 18, 2023 2:12am Oct 18, 2023 2:12am
Watch out all we have a known self confessed scammer among us...as a reminder never send money for anything...
  • #783,960
  • Oct 18, 2023 2:12am Oct 18, 2023 2:12am
Have a buy in ....2240
average dude treading water
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