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Cable Update (GBPUSD)

  • #794,501
  • Dec 1, 2023 6:17am Dec 1, 2023 6:17am
The PA approaching the hourly demand and time to mange SL to BE
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Read the chart... Fundies are catalyst...
  • #794,502
  • Dec 1, 2023 6:21am Dec 1, 2023 6:21am
It appears that all of the US$ pairs have been 'flattening' into a tight range for the past hour...
  • #794,503
  • Dec 1, 2023 6:23am Dec 1, 2023 6:23am
Quoting dantpm
It appears that all of the US$ pairs have been 'flattening' into a tight range for the past hour...
Gonna be a thin market till news time
  • #794,504
  • Dec 1, 2023 6:23am Dec 1, 2023 6:23am
Quoting dantpm
It appears that all of the US$ pairs have been 'flattening' into a tight range for the past hour...
well its becoming boring with 2 pips up and then 2 pips move lol i got sleepy from looking at the chart
  • #794,505
  • Dec 1, 2023 6:25am Dec 1, 2023 6:25am
Quoting T721
{quote} Gonna be a thin market till news time
What news? The 10 am NY ISM index doesn't typically do anything.
Powell can say nothing and move the market, but that's 11 am NY time.
The 8:30 am NY daily 'spike is coming up (news or no news) and that can sometimes move things.
  • #794,506
  • Dec 1, 2023 6:31am Dec 1, 2023 6:31am
Quoting josip
update2 gbpusd , H1 Head and shoulders (chart pattern) waiting for the second shoulder and then we can go down 100pips, if yes.... {image}
The past couple of times that I saw one of these big potential patterns 'emerging', price moved at least the expected amount in the opposite direction as the pattern never formed.
  • #794,507
  • Dec 1, 2023 6:41am Dec 1, 2023 6:41am
Quoting josip
update2 gbpusd , H1 Head and shoulders (chart pattern) waiting for the second shoulder and then we can go down 100pips, if yes.... {image}
Instead of trying to use chart pattern which is common and more likely to effective on a daily time frame
Try to view 1hr and/or 4hr time frame from a swing high, swing low, swing break (Lower low or Higher High) is formed.

It worked better than these chart pattern.
Not only when the trade is working, but also you will realize quicker when it not working and get out quickly with minimum loss.

It work better when i leave chart pattern behind and start watching swing high or lows on different timeframe.
More time in the market, does not mean you trade better!
  • #794,508
  • Dec 1, 2023 6:49am Dec 1, 2023 6:49am
Gap n DXY appears to have closed.
  • #794,509
  • Dec 1, 2023 6:50am Dec 1, 2023 6:50am
Quoting T721
{quote} Gonna be a thin market till news time

Mr T ....

Only important event until market closed is Fed Chair JayPow Speaks
My foolish advice is wait till after he speaks in the afternoon.

Stay on any remarks challenging the prevailing notion of imminent interest rate cuts, a hot topic in the bond market.
Jay speaks at 11 a.m. ET.

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #794,510
  • Dec 1, 2023 6:52am Dec 1, 2023 6:52am
DXY covered it's gap from yesterday, now it's ok

Can go long now

In long 1.2635
Sl-1.2622

Tp-1.2675
  • #794,511
  • Dec 1, 2023 6:52am Dec 1, 2023 6:52am
Quoting Pat Chiko
{quote} Mr T .... Only important event until market closed is Fed Chair JayPow Speaks My foolish advice is wait till after he speaks in the afternoon. Stay on any remarks challenging the prevailing notion of imminent interest rate cuts, a hot topic in the bond market. Jay speaks at 11 a.m. ET. {image}
Thanks pal
  • #794,512
  • Dec 1, 2023 6:54am Dec 1, 2023 6:54am
...still pretty slow but @ least that tight 5/15min range broke - to downside as it happens, - the prev 15min sw hi zone came @ the (once disrespected as rbs) prev 1hr minor sw hi (hollow) zone with that prev 30min sw lo zone containing the downside, in that tight 5min range.

1hr below
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Trader with an Edge.
  • #794,513
  • Dec 1, 2023 6:54am Dec 1, 2023 6:54am
Quoting Pat Chiko
{quote} Mr T .... Only important event until market closed is Fed Chair JayPow Speaks My foolish advice is wait till after he speaks in the afternoon. Stay on any remarks challenging the prevailing notion of imminent interest rate cuts, a hot topic in the bond market. Jay speaks at 11 a.m. ET. {image}
Powell speaks at 11 AM NY and again at 2 PM NY.
  • #794,514
  • Dec 1, 2023 6:57am Dec 1, 2023 6:57am
Quoting fontu
{quote} No bad! So waiting next bo at 2633, confirmation 2627! Initial target then goes to 2612. {image}
Looks red Friday! Well done, testing breakout!
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #794,515
  • Dec 1, 2023 6:58am Dec 1, 2023 6:58am
Quoting dantpm
{quote} Powell speaks at 11 AM NY and again at 2 PM NY.
Hi. He may say something pertinent but the context of the 2 speaking engagements isn't conducive to much being firmed up or otherwise in his remarks. The red flag rated by this site therefore is/may be a bit misleading? Similarly, the U.s ISM later hasn't historically generally a big mover cause, but like all data deviation from the forecast/previous/revisions top previous can cause a flutter to whatever extent.
Trader with an Edge.
  • #794,516
  • Dec 1, 2023 6:58am Dec 1, 2023 6:58am
Quoting fxmasterdxb
{quote} my longs are still on and added some more, im avoiding the noise and looking at the chart, all what i can see is higher highs and higher low {image}
out +2, probably will call it a week
  • #794,517
  • Dec 1, 2023 7:03am Dec 1, 2023 7:03am
It got stuck, I went out… maybe it will go to pick up some missing riders from 2674
  • #794,518
  • Dec 1, 2023 7:12am Dec 1, 2023 7:12am
Quoting JackintheBox
ISM Manuf. 'Index will have high impact today. Last time it disappointed a lot, so it was bias GBP/USD up. Today it will be crucial for overview next weeks. If number is better than expected, GBP/USD will drop probably. If better we probably see new highs (>1.27xxx) soon due to confirm of cooling economy in US. So ISM today (because it disappointed last time in a huge way) will be crucial today for GBP/USD. I wonder if they dare to push GBP/USD more higher before the numbers. Yesterday they got hit badly by doing that. So may be we see side...
Today it seems they are more cautios. Good to see on EUR/USD. They expect now stronger ISM due to better datas yesterday. If more strong datas we could get into a 2nd spiral of inflation (quite often you have that if Inlation was over 5-7% last Year. That's the concern currently (so more rate hike, stronger USD ->GBP/USD down).
  • #794,519
  • Dec 1, 2023 7:14am Dec 1, 2023 7:14am
Quoting dantpm
{quote} What news? The 10 am NY ISM index doesn't typically do anything. Powell can say nothing and move the market, but that's 11 am NY time. The 8:30 am NY daily 'spike is coming up (news or no news) and that can sometimes move things.
Hi Dantpm, reason was the huge gap last time ISM came out, surprised a lot. Now question is if it is still not that good what would mean GBP/USD more up. But forecast ist quite high already so if stable ISM not good for GBP/USD. ISM has middle impact on big news, that's true but last time it was differ a lot. I think that's why currently Dollar Strengthen, also save haven before news.

Edit: If ISM dissapoints today (under forecast or even under last datas) we could see a 50 pip jump up or at least to the today highs immediately. As I said before, USD downdrive currently struggeling due to few better datas last 2-3 weeks than expected.
  • #794,520
  • Dec 1, 2023 7:19am Dec 1, 2023 7:19am
My weekly is still supporting long so I bought.
Looking for at least 1.27
Now the news is a problem that I'm hesitating whether to leave it or close before it.
Exhausted
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