Cable Update (GBPUSD)

2550!!!! Happy 54 trading days' new high !!!! Or to be precise:

Happy breaking of all the highs of the previous 77777 minute candles, happy Stealing 500 pips from Mr.Bear's honey stash, and finally reaching the origin of the corrected downfall in question, which had begun on a Sweet and Sunny September day !!! Ok, Enough with the Taco's, this calls for some extra spicy fun, so::

In a mean time, price just reached my zone of interest


Waiting for the reactions

Yeah... but not for 1000 years...

Ah but now Kemosabe, the magic question, does it reverse or keep on going higher as too many people jump in to quickly?

Selling BTC now 37400, will add till 38000 some, still see BTC at 30000 medium term, better 20000

Every time you short GBP/USD, the market does this:

Whenever Moty and JackInTheBox go the same direction you can almost certainly bet the house on the opposite direction and retire early on a small island.

Precisely!

G/M. 2373 becomes the 4th consecutive HL on dly t/f with close of (3rd consecutive) bullish candle on that t/f y/day. Upside follow thru so far today just probing stops above the prev dly sw hi zone to b2548 and into the once disrespected (as sbr) prev dly/minor wkly sw lo zone = prev supp = pot sbr, that starts @ 2547. Asian lo is presently the current dly lo and Asian hi has been breached to the upside in the move to current dly hi which will be a 2nd HH when it forms fractally - on dly t/f.

dly below

I used to have a plaque on my desk that said just that!

gbp/cad swing trade im in. Riskyasfuck with news coming soon but should be a good drop imo

This is why we wait for confirmation
Just because we can do anything anytime does not means we should be reckless and do something because we need to do something or we are able to do something.


If we did something, we would stuck in our Shorts, while now if we get a confirmation from this new high, we will have a better entry with lower risk.

Damn, took me a while to understand this.
Long time ago, i would already stopped out at least 3 4 times, trying to catch the top

I agree

GBP/USD has reached monthly average range and reached 100% of the pass leg extension. Maybe this is a level where it will react and start to fall:

If I may weigh in on this, in the hope that this long-running feud may finally be over - for the sake of the thread,

Pat, you do not post all the trades that you choose to post here in real-time, fact. (The example recent Gbpusd long trade of yours WG gave is a case in point.) There is of course no compulsion on you or anyone else posting here to do so. You also contribute a lot to this thread. Fact. You are not though 'lily-white,' and have a questionable back history regarding some of the other profiles you have used, and stories you have posted. Fact. Please have the humility to accept these facts as self-evident. That long-winded, ridiculously over-the-top convoluted answer you gave to WG's simple question y/day, (without actually answering it,) as to what in your mind constitutes a 'real trade' almost made Trump's point/accusation about 'obfuscation and confusion' for him.

WG: I don't believe that Pat, and WaveskierRob and whoever else it was, are the same person, (but I could be wrong,) and I do believe that you have an equal right to post what you want here along with everyone else, and not be held to a double-standard (s.)

Hindsight trades/results: There are all types of reasons people post hindsight trades/results, including the 'look at me - aren't I clever' reason. But if they wish to do so - they are allowed to per FF's current rules. They do not do so exclusively for fraudulent/shady reasons. FF allow hindsight trades and results to be posted, and you are in their house, so please let it go, or just put them on ignore, as they might to you, when you post in hindsight.

Guys, this has got to stop, you are driving people away from the thread. Please, put who you need to on ignore, and then fecking well ignore them. Let this be an end to this long-running disruption.

Here are a couple more that I really enjoy!

All 3 short trade today lost , 10 pips each
If this trade win , it will recover all the loss
Exectly 30 pips

...so, 1st upside break of Asian hi was false.

1hr below

So boring

What driving the sentiment for GBP/USD
Is it FOMC meeting or Autumn Statement?

Last year, Lizz Truss f*cked up so badly and iconic Monday that will stuck in my Core Memory.

Some economists expecting TAx cut as planned, some blah blah.

What got my attention is,
Economic Forecast by OBR.

Let start with what BOE consider acceptable as its economic outlook.
Couple BOE officlals' speeches and NOV economic Projection - project UK GDP to stagnant at 0% for 2024
Which slightly missed the -ve territory.

So BOE accept a Stagnation with Inflation coming down as its neutral scenario.

The current OBR projection is -0.2% for 2023

and 1.8% for 2024.

Focus of 2024 projection

If OBR reduce its GDP projection, will be dovish for GBP. - Interest Rate cut
Upward forecast- more inflationary pressure is on the way, more Bank Rate might be on the way.

We might see a revise up, however, OBR is known for many revisions of its Quarterly forecast.

First they will screw you, then they apologies for a mistake in their model they used in their forecasting