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Cable Update (GBPUSD)

  • #790,481
  • Nov 15, 2023 5:59am Nov 15, 2023 5:59am
if we get weak usa numbers i could see GU drive up to 2577
short trump and go long the deepstate
  • #790,482
  • Nov 15, 2023 6:01am Nov 15, 2023 6:01am
Quoting Fardeen1209
{quote} 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...
This is probably one of my biggest failings in trading today! My 'brain' wants to look at the data and relate it to how price should move and actually moves. I also 'know' that the data is unreliable! Still the 'brain' wants to digest the information instead of just passing on it.
  • #790,483
  • Nov 15, 2023 6:02am Nov 15, 2023 6:02am
GA, only GBP cross moving. Time to close.
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  • #790,484
  • Nov 15, 2023 6:04am Nov 15, 2023 6:04am
Quoting Jackoboms
wow, why the sudden spike up?
Can have many reasons. But processes like you see currently are difficult to predict without watching the past 48 hours (sometimes longer). What I see is a strength at 1.2455 - the question is: what is that strength based on? Is it fake strength to get longs in too early or is it real strength for rebuy to new highs?

For me it looks fake strength when you watch the overall picture. Fake strength is used to manipulate the head of traders, especially before news, either to sell crap to them or ged rif off old positions.

I'm not sure if I'm right here but whovever initiated the move last 2 days has a huge position long on GBP/USD so they unwind some of them to lock profits in. Problem is, when you do that too fast and too obvious, market realizes that and you get a V-Formation (in our case currently a turned around V-formation, means first shoot up, than shoot down). So to avoid a too fast downmovement, sometimes they use sharp addings (big orders in 1 second) to kick the market of 3-5 pips in the opposite direction where the market will later go, just to confuse people.

Big guys always win when retailers don't know where market goes next. That's one main reason why you get confusing signals sometime.
  • #790,485
  • Nov 15, 2023 6:07am Nov 15, 2023 6:07am
GBPCAD might be worth a look.
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  • #790,486
  • Nov 15, 2023 6:08am Nov 15, 2023 6:08am
Quoting dantpm
{quote} This is probably one of my biggest failings in trading today! My 'brain' wants to look at the data and relate it to how price should move and actually moves. I also 'know' that the data is unreliable! Still the 'brain' wants to digest the information instead of just passing on it.
Or start trading like many here, doesnot consider Economic data in their trading plan. or stay out when uncertainty prevails.
They still achieve a consistent result.
Same like Navk.
He is one of the trader, i really appreciate with his consistent result.
I am all after consistency. In the long run, it will give me a brighter future, compare to gamblers.

"Just because others doing it, does not mean, you should too" - my late grandpa
More time in the market, does not mean you trade better!
  • #790,487
  • Nov 15, 2023 6:11am Nov 15, 2023 6:11am
If the mf is closing above the 50-61.8 zone ,i am out
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yes yes yes
  • #790,488
  • Nov 15, 2023 6:11am Nov 15, 2023 6:11am
Quoting birdland
looks like CPI had no big impact, so looks like a buy here. too many retailers were surprised and are holding shorts
DT reached
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trading is like dancing, don't think and just listen to the music!
  • #790,489
  • Nov 15, 2023 6:12am Nov 15, 2023 6:12am
Quoting Jackoboms
wow, why the sudden spike up?
CPI news
  • #790,490
  • Nov 15, 2023 6:12am Nov 15, 2023 6:12am
Quoting JackintheBox
{quote} Can have many reasons. But processes like you see currently are difficult to predict without watching the past 48 hours (sometimes longer). What I see is a strength at 1.2455 - the question is: what is that strength based on? Is it fake strength to get longs in too early or is it real strength for rebuy to new highs? For me it looks fake strength when you watch the overall picture. Fake strength is used to manipulate the head of traders, especially before news, either to sell crap to them or ged rif off old positions. I'm not sure if I'm...
Thanks for the explanation
  • #790,491
  • Nov 15, 2023 6:13am Nov 15, 2023 6:13am
Quoting Moty
It can drop heavily from here Or spike 60 pips and drop heavily {image}
It’s rejected 12455 many times today and own gone up. Whether it’s a false spike up or not I don’t know. We do have data in a bit which could take out 125 again
Insane in the Brain..
  • #790,492
  • Nov 15, 2023 6:14am Nov 15, 2023 6:14am
Quoting Bones
{quote} you don't need to rush he gives 8 weeks minus 500 pip stop signals. {image}

bonzey...i just took a closer look at this chart you posted about me.....

how can you pick out a long i made even before you called your weekly 3 crows?


you see how dishonest you are...you try to smear me even before we had our disagreement about your call....you got me going long midway in the 2nd crow

i never thot id meet a person who couldnt count to 3 ROFLMAO....yes 3 black crows and you referencing the 2nd one LOL


if i went long there was prolly because of the dollar chart signal on hourly that i closed prolly that same day or next but that was before you opened up your dishonest mouth announcing your dead on arrival black crows which considering you pulled them out in a weekly chart we should be near 1500 by now after 6 weeks LOL

dont be jealous genadi said something nice about me LOL
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short trump and go long the deepstate
  • #790,493
  • Nov 15, 2023 6:18am Nov 15, 2023 6:18am
Quoting Fardeen1209
{quote} Or start trading like many here, doesnot consider Economic data in their trading plan. or stay out when uncertainty prevails. They still achieve a consistent result. Same like Navk. He is one of the trader, i really appreciate with his consistent result. I am all after consistency. In the long run, it will give me a brighter future, compare to gamblers. "Just because others doing it, does not mean, you should too" - my late grandpa
The detail that is stopping me is that price often changes direction as a result of the news events and as of yet I have no way of predicting the new direction.
  • #790,494
  • Nov 15, 2023 6:26am Nov 15, 2023 6:26am
Quoting dantpm
{quote} The detail that is stopping me is that price often changes direction as a result of the news events and as of yet I have no way of predicting the new direction.
May be stop trying to predict direction and start trying to focus of searching for pattern happened in the past, that works well, bearing in mind not to expect the same outcome that had occurred in the past.

May be reading Trading in the zone might help, it helps me break the barrier of trying to predict or afraid to take the trade even after having all confirmation, or because was too afraid to take the planned trade, taking the unplanned trade, and end up being on the wrong side of history. Always wonder with the thought what if it does not worked...
More time in the market, does not mean you trade better!
  • #790,495
  • Nov 15, 2023 6:30am Nov 15, 2023 6:30am
Gbpusd tp 1.24320, long at tp
  • #790,496
  • Nov 15, 2023 6:34am Nov 15, 2023 6:34am
It had been an exceptional day today to me.
My eyes are begging me to lie down in bed for some hours.
Will be back after 9 am
Was watching semi finals cricket too.
Intraday only.
  • #790,497
  • Nov 15, 2023 6:41am Nov 15, 2023 6:41am
Quoting Fardeen1209
{quote} May be stop trying to predict direction and start trying to focus of searching for pattern happened in the past, that works well, bearing in mind not to expect the same outcome that had occurred in the past. May be reading Trading in the zone might help, it helps me break the barrier of trying to predict or afraid to take the trade even after having all confirmation, or because was too afraid to take the planned trade, taking the unplanned trade, and end up being on the wrong side of history. Always wonder with the thought what if it does...

Got hung up yesterday watching this beautiful H&S develop in the 5-30 min time frames in front of the CPI release. Thought very clearly how it would be unlikely for price to spike down to complete the pattern if it wasn't going to go in that direction. Thought very clearly how the DXY sentiment was biased long, so less chance of price dropping. Thought very clearly ....
  • #790,498
  • Nov 15, 2023 6:41am Nov 15, 2023 6:41am
whats goin on in the great white north...are you canuks voting in a canadian donald trump?

if thats the case may have to short the loonie LOL

https://www.forexfactory.com/news/12...with-his-party
short trump and go long the deepstate
  • #790,499
  • Nov 15, 2023 6:48am Nov 15, 2023 6:48am
Closed Gbpusd short, and have gone long, tp 1.24900
  • #790,500
  • Nov 15, 2023 6:49am Nov 15, 2023 6:49am
Quoting Moty
If the mf is closing above the 50-61.8 zone ,i am out {image}
why you saying this bad word, you the mf
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Meer-Shayhak