Cable Update (GBPUSD)

Agreed.
FED officials preparing for Xmas

But as you know MM always need something to 'justify' price manipulation, before real move.

Between Mar to May 2024- some interest rate traders start pricing FED rate cut

Hi, yeh this time there was a prev 30min minor sw lo zone there = prev supp = pot supp.

1hr below

h4:
closed below pivotline 1.2468

I agree that MM's use various events to move price, however the data or news content of the events rarely has anything to do with how price moves. Sure analysts use the tired excuses that the data was already priced into the market or the data was incorrectly priced into the market in an effort to 'justify' their analysis, but in reality it simply doesn't make sense, price does what the MM's want IMHO

here you go bonzey... turnabout is fair play LOL and im not using this out of context like you do cause i havent seen you close this trade like i closed the one you keep referencing

i hope you still have energy left since it was such an ordeal to make one call in 8 years ROFLMAO ...but you know how to heckle other people when they turn out to be right

let the room know if and when you close or average up since youre minus 150 pips

next time be sure you send 3 black crows to do your bidding instead of 3 pigeons

I feel it might down more though

...bulls seem to be trying to push higher from the current p/back (of the up-move's) lo/Asian/current dly lo, but are presently not making much upside progress. Perhaps if the U.s data comes in under forecast later it will give it a push north? Anything can happen.

1hr below

i closed my shorts at 2462...if goes lower its without me...this shit is taking too long to drop

i put buy limits around 2400 yesterday so if drops on PPI number ill be ready...otherwise ill go long manually cause still boolish to 2700 which is where 103 dollar level shud be

Price is above the ma , it's in danger to switch to long
Don't go there !!!!!!!!

no positions yet, just driven 350 miles and now torrential rain.

im gona take a small long if this hourly candle closes green in 25 min.

The market is quietly planning something. Slow at the moment

if that happens i can envision a spike up to 2500 to grab stops before and right at the news release

I agree.

One thing i notice is somehow data/news is correlated of how the structure is- particularly the 4hr market structure.

The anticipation of a data is merely a guessing game based why or by how much news/speeches/data tend to deviate from the expected figures.

Let say a good data for UK- lower unemployment,
If 4hr market structure for GU is on a downtrend, it becomes a corrective swing- the bullish effect tend to be minor- Short sellers getting out of their trade, while retails buy into it, only to later get a bitch slap- trying to catch the falling knife- but it can be a good scalping if flat.
If 4hr market structure is on an uptrend, the upward push is massive- even tho the actual figure came out slightly better than the forecasted one.

Somehow, no matter which or what economist(s) is saying, it is just an opinion, their opinion(s).

At the end of the day, entry, SL and TP will wholly based on TA(liquidity level)

FA just put the odd for price to travel from your entry to your TP or SL (try to anticipate the Volatility- in your favour).

Because we have been in this for at least 2-3years, on a daily basis, there is always something about to break or to happen or an important economic data. Everyday there is something to scream about.

Very often, the news, speech or data point right, but market reaction goes left.

Who's right or who's wrong, it doesnot matter.

Everything comes down to 1 thing, how your outcome of your trades are distributed in your journal, and the % win (or $$$ amount) attached to the wins or the % loss (or $$$ amount) attached to the losing trade.

This explains we cannot be always right or get every trade we put on, correct.

Yesterday on all pair - see how volatility run from liquidity area
(posted only one pair- as i started watching Nas100 and collecting its data- spending my time focusing index)

Todays UK CPI is another example


Internal structure MSS for possible corrective swing

PAT Chiko gave his trade signal, based on this setup 5hrs ago in his thread.
Does it matter whether UK CPI going to >4.7% or <4.7% after getting PA and internal structure confirmation?
Since in finance we learned price is the most efficient source of information. It shows past, present(discounted for the future possible price movement)
(mentioning him here, since he is the one that pave the road ahead of me)

Majority of economist expecting an >4.7%, since Wage inflation is sticky. But PA and internal structure said


This is my opinion of how we should react to price behaviour.

And another view
H4

wow, why the sudden spike up?

USD is still very weak but, for GU price is already below the resistance level. It should trade to the next level below.

if price would go up then it will range and create a level on the H4 time frame because that’s the time frame my analysis is based.

long 2475...jumped the gun a little early

It can drop heavily from here
Or spike 60 pips and drop heavily