Cable Update (GBPUSD) | Page 39291 | 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)

  • #785,801
  • Oct 25, 2023 5:23am Oct 25, 2023 5:23am
Quoting zuko
{quote} May I ask how you come up with 1.2115 level?
off my chart lol easy lol
  • #785,802
  • Oct 25, 2023 5:26am Oct 25, 2023 5:26am
Quoting elbert3
{quote} off my chart lol easy lol
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_2738.jpeg Size: 424 KB

Shorts now have been pp so let’s see if 5 min rule comes to play . Short order left at the bottom now
  • #785,803
  • Oct 25, 2023 5:28am Oct 25, 2023 5:28am
Quoting Wavegarrick
{quote} Terrible trading on my part. Possible symmetrical triangle in progress indicating indecision in the market. Cheers. {image}
Buy trade in just above the ascending trend line of the triangle @ 1.21173,
Could add more a bit lower.
Cheers.
Trade to trade another day
  • #785,804
  • Oct 25, 2023 5:28am Oct 25, 2023 5:28am
Quoting JackintheBox
... I go 2 x avg. Position long on 1.2117 for scalp first. I kicked out before at 1.2121 with a potential loss. This approach is not technical analysis, it is pure statistically, please be careful doing the same.
Wow, that's awesome. Sold 30% of my 2x avg . Position at 1.2121 already again, reducing my loss to 70% of 1 day avg. earn. Nice. PA still creepy, same pattern like yesterday. Algos do their job on the spot. Must be someone with very deep pockets, at least at corrections the person / institution is putting hell of money on short side. Till now that was very clever, cause it were almost always the top entry before swinging down more. Problem with that technique is always the amount of lots you collect over times because in that current case you have to buy it back again and that costs a lot of pips. Let's see when the limit is reached for selling.
  • #785,805
  • Oct 25, 2023 5:30am Oct 25, 2023 5:30am
Attached Image (click to enlarge)
Click to Enlarge Name: dx.png Size: 11 KB

Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 12 KB
yes yes yes
  • #785,806
  • Oct 25, 2023 5:31am Oct 25, 2023 5:31am
could have closed my all of my position now from 1.2117 at 1.2124 to get +/-0 for today - but I just sold 20% of it, I think we see soon a bigger correction of 20 pips from the low at least. I don't want to miss that. Cheers
  • #785,807
  • Oct 25, 2023 5:31am Oct 25, 2023 5:31am
We have reached a possible grant, but now I have no confirmation on where to go next.
  • #785,808
  • Oct 25, 2023 5:34am Oct 25, 2023 5:34am
Quoting JackintheBox
I think what we see today (and probably yesterday already) is the clash of intra-day traders and swing traders with deeper pockets where swing traders try to grap the money from intra-day traders with seldom occurances like yesterday already and even today. So if you can survive these days as intra day trader / scalper you will be very sure profitable in the long run. I'm currently yesterday +/-0 and today not yet 1 avg. day down which is awesome for such a market. One normal day and I'm 0 again and: day is not yet over, I can still manage, even...
What you are seeing is noise from daily business operations. Stop overthinking this shit.
Congratulations ScalaFX for coming out of the closet!
  • #785,809
  • Oct 25, 2023 5:35am Oct 25, 2023 5:35am
there is no red news at NY today...so i will leave my trade and set SL to BE @ 1.2172..
deleting my buy limit,, add short 2100..
TP all to @1.2050
hopefully see blue money tomorrow..
good luck guys..
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20231025_173450.jpg Size: 420 KB
  • #785,810
  • Oct 25, 2023 5:38am Oct 25, 2023 5:38am
G/M. P/back from y/day's lo to asian/current dly hi sees another leg down past asian lo - a downside follow-thru on y/day's big >30 day adr bearish dly candle...this time to a prev 30min sw lo zone @ current dly lo, where some demand has been encountered. Price @ that lo has entered top of the 4hr and dly parts of the prev 1hr/4hr/minor dly sw lo zone that extends down to 2090. @/around the current dly lo the dly asc t/line that joins 0347 with said 2090, and Dly S1.

1hr below
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 33 KB
Trader with an Edge.
  • #785,811
  • Oct 25, 2023 5:42am Oct 25, 2023 5:42am
Quoting Wavegarrick
{quote} Buy trade in just above the ascending trend line of the triangle @ 1.21173, Could add more a bit lower. Cheers.
Thank you for reminding, I completely forgot about the triangle. That's probably the reason why GBP/USD stopped at 1.2115's area.
  • #785,812
  • Oct 25, 2023 5:43am Oct 25, 2023 5:43am
...price came back inside that prev 4hr desc equidistant channel @ y/day's lo and attempted a 2nd upside b/o before the bears stepped back in @ current dly hi...now back inside that channel again. Bulls are up against it right now.

4hr below
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 19 KB
Trader with an Edge.
  • #785,813
  • Oct 25, 2023 5:43am Oct 25, 2023 5:43am
Quoting JackintheBox
{quote} Interesting, any more insights? I just can see PA is behaving a bit different now. I have no clue why it should stop at 1.2115 now.
super weird price action this October being the first month of the last quarter, only having 300 pips so far unlike July that already had 600+ pips.

Last week range was very minimal which means a bigger range of around 240 - 280 pips may occur this week. And with just 4 trade days to end this month, some wild moves are expected to stretch this month range to at least 400 pips.

1.19 is on the radar if price fails to retake 1.22 in the next days. Trade with utmost caution.
Data + Stat + Risk/Emotions Management
  • #785,814
  • Oct 25, 2023 5:44am Oct 25, 2023 5:44am
Quoting elbert3
{quote} off my chart lol easy lol
Hmm... Yes, I can see easily W setup on 1M or 5M chart... after the fact...

I can see it or confirm it only after around 13:15 - 13:20 when second leg is forming

However, Yngwie had posted his entry at 12:55 when only first leg was forming and entered the trade at the very low. So, it was far ahead before any price patter was formed. Therefore I am curious how???
  • #785,815
  • Oct 25, 2023 5:46am Oct 25, 2023 5:46am
Quoting zuko
{quote} hmm... Yes, i can see easily w setup on 1m or 5m chart... After the fact... I can see it or confirm it only after around 13:15 - 13:20 when second leg is forming however, yngwie had posted his entry at 12:55 when only first leg was forming and entered the trade at the very low. So, it was far ahead before any price patter was formed. Therefore i am curious how???
1.2110 is a pivot support my friend
  • #785,816
  • Oct 25, 2023 5:50am Oct 25, 2023 5:50am
Quoting voeltoez
there is no red news at NY today...so i will leave my trade and set SL to BE @ 1.2172.. deleting my buy limit,, add short 2100.. TP all to @1.2050 hopefully see blue money tomorrow.. good luck guys.. {image}
We have 2 main red news tomorrow,
ECB Expecting to keep same rate
US Advanced GDP - Some economists are expecting a slowdown (< consensus), i'm expecting it > Consensus given the strong consumer confidence and all US economic activity.
Tomorrow's candle might be a continuation of todays' candle, but who knows what might happen
More time in the market, does not mean you trade better!
  • #785,817
  • Edited 6:07am Oct 25, 2023 5:55am | Edited 6:07am
Quoting footprint
I think we'll pop up on Claimant Count at 7am and make the high of the week today sometime after London open. When I find a safe sell entry i'll enter short to 1.2070 with the aim of hitting it this week We may turn around 1.23, or around 1.2350 above the h4 swinghigh, will wait for LTF to trend down and get in on pullback into imbalance
50 pips to go until target..will close there.

Sub 1.2040 prices are totally possible this week

Really nice price action this month, just trend following
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 43 KB
  • #785,818
  • Oct 25, 2023 6:02am Oct 25, 2023 6:02am
Quoting zuko
{quote} May I ask how you come up with 1.2115 level?
Support 1 at Daily Pivot
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #785,819
  • Oct 25, 2023 6:02am Oct 25, 2023 6:02am
Quoting stormtrader
{quote} 1.2110 is a pivot support my friend
I assume you are referring to the following? Might be... S1, but then other questions pop up, why not PP or S2/S3? Still mystery


Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 8 KB
  • #785,820
  • Oct 25, 2023 6:02am Oct 25, 2023 6:02am
Quoting Georginson
{quote} super weird price action this October being the first month of the last quarter, only having 300 pips so far unlike July that already had 600+ pips. Last week range was very minimal which means a bigger range of around 240 - 280 pips may occur this week. And with just 4 trade days to end this month, some wild moves are expected to stretch this month range to at least 400 pips. 1.19 is on the radar if price fails to retake 1.22 in the next days. Trade with utmost caution.
Wow, thank you. Did not see that. Would explain the harshness of selling. Again, same pattern like in the morning. I don't think it is missing volume. It's still selling volume. Reduced my long to 1 avg. long now, small loss for the day currently. -Ah, I just see that was probably a mistake, market just jumped up 4 pips lol. But I'm fine with it. My aim should be to be +/-0 and not to make big hit today.
339 traders viewing now, 2 are registered:
,
Fishbones