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Cable Update (GBPUSD)

  • #794,521
  • Dec 1, 2023 7:27am Dec 1, 2023 7:27am
Quoting Elysion
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.
Hi. Wkly candle just touched bottom of a prev minor sw hi zone on that t/f that extends up to 2800, = prev res = pot res. Could see some more supply emerge in that zone if tested?

wkly below
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Trader with an Edge.
  • #794,522
  • Dec 1, 2023 7:30am Dec 1, 2023 7:30am
Quoting JackintheBox
{quote} 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...
The ISM missed by 2% to the downside, A number which suggests that the Fed's tightening is working and no rate increases are required. This shouldn't have resulted in a market reaction based on the content of the 'news'. If ISM disappoints again it is still supporting the Fed's current strategies and should not result in a GU or $ impact based on the content. I am not saying that we won't see a spike but it will have nothing to do with the content of the news!

An ISM spike to the upside would be a weak indication that more rate increases are required get back to the Fed's 2% goal, but it is one indicator and has to be supported by more data points.
  • #794,523
  • Dec 1, 2023 7:33am Dec 1, 2023 7:33am
...it's tight presently!

1hr below
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Trader with an Edge.
  • #794,524
  • Dec 1, 2023 7:36am Dec 1, 2023 7:36am
Quoting T721
{quote} US500 --- worst positions @ 4545, 4549, 4554, 4558 and have the rest built in to todays top.. All thats left do to is add if the breakdown comes. BIG IF BTW dont follow me or anyother buggers analysis if you cant handle your own risk
added more @4561, 4562 and will add again if i can get 4566 and 67
  • #794,525
  • Dec 1, 2023 7:37am Dec 1, 2023 7:37am
Quoting dantpm
{quote} The ISM missed by 2% to the downside, A number which suggests that the Fed's tightening is working and no rate increases are required. This shouldn't have resulted in a market reaction based on the content of the 'news'. If ISM disappoints again it is still supporting the Fed's current strategies and should not result in a GU or $ impact based on the content. I am not saying that we won't see a spike but it will have nothing to do with the content of the news!
Could be that the data is more important today because it would be the 4th figure which would show that US is not really cooling down(at least as expected). But may be it is also due to speak later from Powell. I think it is not only the ISM, it also is the whole picture and ISM takes a bit a lead today due to last (even bigger) news and the speech afterwards later. I see fear all over the board regarding trading agaist USD. As I said earlier, yesterday they got a big hit speculating on weak datas from US. Consolidation on GBP/USD on daily is also over but no new high yet, less power. Also indicates on daily at least a conservative waiting for more clearance of signals.

Usually news don't have such a high impact but it depends if there could be a paradigm change in general. Than news can have a huge impact. I don't think so today but it would be better if ISM disappoints today for market structure (->GBP/USD up).
  • #794,526
  • Dec 1, 2023 7:45am Dec 1, 2023 7:45am
News in 75 minutes will probably take price down..
powell will kill the $ later? Probably

im not in the mood for risk money today.
  • #794,527
  • Dec 1, 2023 7:46am Dec 1, 2023 7:46am
Quoting Whale
News in 75 minutes will probably take price down.. powell will kill the $ later? Probably im not in the mood for risk money today.
Yes, at least that is the expectation. So a hit is already priced in. I think we see sideways now till decision below broken triangle.
  • #794,528
  • Dec 1, 2023 7:47am Dec 1, 2023 7:47am
Quoting JackintheBox
{quote} Could be that the data is more important today because it would be the 4th figure which would show that US is not really cooling down(at least as expected). But may be it is also due to speak later from Powell. I think it is not only the ISM, it also is the whole picture and ISM takes a bit a lead today due to last (even bigger) news and the speech afterwards later. I see fear all over the board regarding trading agaist USD. As I said earlier, yesterday they got a big hit speculating on weak datas from US. Consolidation on GBP/USD on daily...
Weak data ( indicating the US economy isn't growing, prices aren't rising, type of thing) all support that the FED is achieving its goals of moving towards 2% inflation.
Stronger data suggesting that the economy is growing doesn't necessarily mean that prices are rising, the KEY variable that the Fed is concerned about. Strong data has to be supported by specific price information indicating that prices are not getting controlled.
In any event, market reactions to news events have nothing to do with the actual news events. It takes time to adjust open orders that move price. Any immediate reaction at the time of a news event is simply the market trading computers using the event as a moment in time to adjust price.
  • #794,529
  • Dec 1, 2023 7:51am Dec 1, 2023 7:51am
Quoting T721
gbp/usd ---- didnt get the best entries on this, short @ 661, 664, 666, and 667 -- puttint them all @breakeven now and see if it drops to target Remember its Fukem Friday today so if you aint in already dont follow me {image} {image}
Sorry guys, just noticed there is another Liquidity zone, will post it when we get down there but if you look left on 4hr tf you will prolly see it yourself just above 550
  • #794,530
  • Dec 1, 2023 7:52am Dec 1, 2023 7:52am
Quoting dantpm
{quote} 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.
yes, agree, and?
what u want to say?
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Trendlines H1,H4, SMC
  • #794,531
  • Dec 1, 2023 7:57am Dec 1, 2023 7:57am
Quoting josip
{quote} yes, agree, and? what u want to say? {image}
Just an observation.
  • #794,532
  • Dec 1, 2023 7:58am Dec 1, 2023 7:58am
..you can tell it's a slow day when I'm posting fib clusters lol!

To the downside:
2604-2595 3 fib cluster
2576-68 3 fib cluster incl 23.6% 3142-2038
2557-52 3 fib cluster
2525-15 3 fib cluster
2467-58 3 fib cluster incl 38.2% 3142-2038
Trader with an Edge.
  • #794,533
  • Dec 1, 2023 8:00am Dec 1, 2023 8:00am
All day i am chasing the tail of my self
New strategy the 200,21,7 ema strategy
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yes yes yes
  • #794,534
  • Dec 1, 2023 8:00am Dec 1, 2023 8:00am
also only little members online. Did I miss sth. today? Any holiday somewhere which is not offically? Or all done already due to heavy week last 4 days.
  • #794,535
  • Dec 1, 2023 8:02am Dec 1, 2023 8:02am
Quoting voeltoez
short again 2653 no tp no sl {image}
closed all 2629...escaped before the storm..end of trade this week...
goodluck guys
  • #794,536
  • Dec 1, 2023 8:02am Dec 1, 2023 8:02am
...gmt+2 4hr closes as below a couple of mins ago

4hr below
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Trader with an Edge.
  • #794,537
  • Dec 1, 2023 8:07am Dec 1, 2023 8:07am
Quoting Pat Chiko
{quote} GU Last two open block position. Target above and will let this trade run. Need to go and attend to all other indexes open trades (DOW 30, NASDAQ and S&P 500){image}

GU

revision of process.
taken many more losses.

Going for SHORT set up and waiting for N3.
If any more losses, I will share in this thread.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #794,538
  • Dec 1, 2023 8:12am Dec 1, 2023 8:12am
withdraw your money..reward your self..spent time with your lovely family..see you at monday
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  • #794,539
  • Dec 1, 2023 8:13am Dec 1, 2023 8:13am
Quoting Pat Chiko
{quote} GU revision of process. taken many more losses. Going for SHORT set up and waiting for N3. If any more losses, I will share in this thread.{image}

GU

N3 SHORT position.
Will share the result if losses.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #794,540
  • Dec 1, 2023 8:17am Dec 1, 2023 8:17am
Quoting Moty
All day i am chasing the tail of my self New strategy the 200,21,7 ema strategy {image} {image}
You may want to add a 60 as well. I believe that you will find more solid opportunities. I use the 48 which is a little tighter but the same thing.
Instead of the Stock and macd I am using the TSI, actually the smoothed TSI.
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