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Cable Update - Continued 61 replies

Cable (GBPUSD) vs Euro (EURUSD) 27 replies

Cable Update (GBP/USD) without Idiots 23 replies

Why is GBPUSD called cable? 66 replies

cable short for gbpusd? 6 replies

Attachments: Cable Update (GBPUSD)
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Cable Update (GBPUSD)

Quoting dantpm
{quote} Typically tax cuts impact very few people. Probably not enough to swing an election. Somehow this gets lost on the candidates.
from what I can see it’s trying everything to avoid a crushing defeat and then see who can provide a better coalition
Quoting JourneyLife
{quote} Base on your interpretation, what trade idea does this present to you?
Hi, we need to see the overall situation, not only focus on only one as GBP/USD consist of 2 currencies, hence 2 economies.

With FOMC around the corner, we need to see how Powell speeches will be absorbed by the market.
We might see Hawkish Powell which i'm expecting, since the SWAP market are price in for FED Rate CUT too soon, while FED officials want to hold the current Rate much longer than anticipated.
So tonight we might see a dovish disappointment, which means hawkish Powell- hence lift Dollar.


As for UK autumn effect for 2023 projection since we are only 1 month away from ending 2023. SO all focus will be on projection of 2024.
Given the current bank rate already quite high for the current strength of UK GDP, a forecast lower than 1.8% would be suitable.

However, OBR always fucked up on its first release. When it starts revising on the following months, then you see its revised forecast becomes more allign with current economic outlook.

Now, just relying fundamental, proves not to be the most effective way of trading.
We need to match Technical with fundamental to get the best result possible.

TA
Daily STructure
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A HH already produced. After a HH i would expect a HL.
PRice is currently at a level which i define as the great wall of China. So from this level, it is high possibility to see the end of this trend wave and start of counter-trend (corrective)wave, based on my system and current expertise.

Keep going in the depth,
We can also see couple of 4hr Bearish sign candlestick
From this level
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Now you can see better, that the Dovish disappointment and a lower than 1.8% UK GDP new forecast might produced this counter-trend leg till HL

EDIT:
Quoting Fardeen1209
{quote} 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. {image} 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
To get the best entry we wait for confirmation from Price Action itself, while we already have our directional bias in our mind.

However, it worth noting, that all these together is a setup. and for a setup to play out is always 50/50 because nobody knows what the future price Action will look like.
So we always calculate our risk, and placed our stop loss. In case, we wrongly formed our directional bias, our Stop loss saved us from drastic loss on our account.

Hope this put you one step forward, journey life.
Not afraid to be wrong, ik what am goin to lose!
Quoting Whale
So boring
Due to my bonding to EUR/GBP I can tell you that this kind of PA reminded me of EUR/GBP when GBP/USD was the main driver.

What I want to say: PA of GBP/USD is (also) driven strongly by other currencies,- at least currently. That is very seldom because the impulse most times start on mainly GBP/USD for other currencies. You can see that on the up and downs today in short time and short moves, looking like no making sense.
I saw that a lot on EUR/GBP when GBP/USD and EUR/USD made the market.
Quoting Moty
{image}
thats still unbreak structure mate, tske care.
I usually sell at this poin, but i stop now
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Stop trade from today until success at Demo
Gild short 1988
closed gbpcad shorts
Quoting navk
{quote} Do you honestly trust this is going to stop ? NEVER. Simple.. to use the button and send such people out of this thread. Seen/ Read / Heard enough of this nonsense. In the meantime, I made a complaint yesterday to TWEE, in line with his advice. Hope some investigation is done. Remember, he questions if at all TWEE exists !! I sent that post too to TWEE
Hi. I don't know whether it is going to stop. I and most in this thread I am sure, hope so. Perhaps there are those here who just like disruption for it's own sake? I don't know. I certainly don't think Twee/site moderation has been strong enough, and this should change. He/they have allowed this to go on for week after week, page after page, month after month - it's ridiculous. If it were me, (I don't want it - even if I was asked,) I would rule the place with an iron fist, strong but fair, with the same rules for everyone, but I am guessing (only guessing) Twee/FF have their commercial interests to think of too, and traffic is traffic? You are welcome to send this post to Twee too but I suspect he will see it anyway.
Intraday swing trader @ 1Hr+ supp/res, & 5min+ sbr/rbs, via 1min+ set-ups
I am seeing first time some reistance in GU between 2442/2454
Intraday only.
Quoting Headland
{quote} Hi. I don't know whether it is going to stop. I and most in this thread I am sure, hope so. Perhaps there are those here who just like disruption for it's own sake? I don't know. I certainly don't think Twee/site moderation has been strong enough, and this should change. If it were me, (I don't want it - even if I was asked,) I would rule the place with an iron fist, strong but fair, with the same rules for everyone, but I am guessing (only guessing) Twee/FF have their commercial interests to think of too, and traffic is traffic? You are...
Agree, 100 %.

Moderation is not strong.

There are professional threads...in FF.

" The subject matter " only discussed there.
Intraday only.
Quoting JourneyLife
Here comes GBPUSD laughing again: {image}
hahahaha nice one
People don't plan to lose. They lose because they don't plan.
Quoting navk
{quote} Do you honestly trust this is going to stop ? NEVER. Simple.. to use the button and send such people out of this thread. Seen/ Read / Heard enough of this nonsense. In the meantime, I made a complaint yesterday to TWEE, in line with his advice. Hope some investigation is done. Remember, he questions if at all TWEE exists !! I sent that post too to TWEE
Twee is Great Gatsby!
People don't plan to lose. They lose because they don't plan.
Quoting ScalaFX
{quote} Twee is Great Gatsby!
This is his last message to me.

I am acting in line with his message.

Hope he does something.

Investigation
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Intraday only.
GU H4 We have recovered a little from the decline, but the buying power is weak, so we will close all long positions and end today.
I will think about tomorrow's trade based on NY's reaction.
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Quoting navk
{quote} This is his last message to me. I am acting in line with his message. Hope he does something. Investigation {image}
you have more than 17000 post, almost 18000, you are FF freak my Bud!
People don't plan to lose. They lose because they don't plan.
1.2534 is the price for bulls. It needs to be taken down by closing above 1.2445.
2530 is really starting to irritate me.
Quoting ScalaFX
Selling BTC now 37400, will add till 38000 some, still see BTC at 30000 medium term, better 20000
partial closed, protected
People don't plan to lose. They lose because they don't plan.
Quoting Fardeen1209
{quote} Hi, we need to see the overall situation, not only focus on only one as GBP/USD consist of 2 currencies, hence 2 economies. With FOMC around the corner, we need to see how Powell speeches will be absorbed by the market. We might see Hawkish Powell which i'm expecting, since the SWAP market are price in for FED Rate CUT too soon, while FED officials want to hold the current Rate much longer than anticipated. So tonight we might see a dovish disappointment, which means hawkish Powell- hence lift Dollar. As for UK autumn effect for 2023 projection...
You also have a strong divergence on the 4hr MACD EURUSD (See Ata-Turkoglu post) that will impact DXY and could drive GU as well.
...we all do it differently re guaging conditions on each t/f, (trend or range,) but per 3 candle fractal swing analysis re dly is marked on chart below;

4 x consecutive HL's (circled) now, and what will be a 2nd HH when it forms fractally - @ today's current dly hi or higher.

Re fibs: the 50% of the main 3142-2038 fall is @ 2589, 61.8% of that @ 2719. (Other fibs are available!)

Dly below
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Intraday swing trader @ 1Hr+ supp/res, & 5min+ sbr/rbs, via 1min+ set-ups
Quoting JereMi256
{quote} This is all I wanted in the first place Garrick but you unfriended me. Well, Pat Chiko will prolly hate me for this but this is what I want! Next level MATURITY, 2024! @Coreg2004 & @Best trader ever lived 8.3, waiting to hear from you on this.
JereMe, first let me tell you you are an upstanding character with strong values and you are not afraid to voice your opinion which I welcome and admire all the time. When I saw it the first time I subscribed to you without any hesitation b/c I wanted to be called your buddy.
Now, in this thread, if you don't want to be a recipient of selective outrage, you have to play the victim. First attack others' analysis and then cry foul when people demand evidence. Even if someone acts like the last POS, but starts to play the victim others will have compassion for them b/c in their minds, the fake victim has always a higher moral standard.
Always trade your own plan...I don't provide trading signals.
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