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Cable Update (GBPUSD)

  • #796,381
  • Dec 11, 2023 11:53pm Dec 11, 2023 11:53pm
Quoting fontu
{quote} so next resistance 2590 , d top also , breaks and hold target goes to 2620 + . fails may correct 2530 ok . watching {image}
2460 (ish) my ideal target, but lots of big news this week, so not holding my breath. Looking forward to the end of next week, so I can finally turn my computer off and enjoy a holiday!
Emotional Control. Process, not outcome.
  • #796,382
  • Edited 12:27am Dec 12, 2023 12:16am | Edited 12:27am
Quoting Konichiwhaat
{quote} 2460 (ish) my ideal target, but lots of big news this week, so not holding my breath. Looking forward to the end of next week, so I can finally turn my computer off and enjoy a holiday!
lets see what happen , minute limit down broken , ok , tls intact , breaks tl down may support 2560 , or down below 2550 , still bull intact till 2538 intact at this present leg . take care
i have long as always play one way , can't cope with the tension 2 ways , specially in scalping . so mostly set be and forget tyme , at the end may zero profit after travelling 100 pips profit too , miss target , not close manually ! but no anxiety. problem come when swings done and open trades in scalping mode ! lets see target here get or not at 2620!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png Size: 15 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #796,383
  • Dec 12, 2023 12:23am Dec 12, 2023 12:23am
Quoting fontu
{quote} lets see what happen , minute limit down broken , ok , tls intact , breaks tl down may support 2560 , or down below 2550 , still bull intact till 2538 intact at this present leg . take care {image}
possible mini volume earthquake in 35 mins
Emotional Control. Process, not outcome.
  • #796,384
  • Dec 12, 2023 12:36am Dec 12, 2023 12:36am
Quoting Konichiwhaat
{quote} possible mini volume earthquake in 35 mins
as mostly news driven pa recent years like before 11/2008 disaster times , my early trading years mostly come to play news times and all close and go , back again only news times , as other times price hardly move!
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #796,385
  • Dec 12, 2023 12:48am Dec 12, 2023 12:48am
Quoting muv
{quote} do you think its related to the time factor ? i mean we are now in the end of year and liquidity may decrease. big players with carry trades on high timeframes are closing there positions. or its because the cyclic nature of market ? as you know the day start with slow moving followed by large moves in the middle of day, then slow move again at the end of day. this scenario can also happen in the year. but i agree with you regarding to algorithms and Artificial intelligence. this will be a huge challenge to traders.
no, the time of the year is irrelevant.

in my opinion its just the rising algorithm used by MM and banks. and they produce the volume. not the retailers. they are a small group.
trading is like dancing, don't think and just listen to the music!
  • #796,386
  • Dec 12, 2023 1:01am Dec 12, 2023 1:01am
Closed one position.
Remaining BE and looking to add more after pullback
Attached Image (click to enlarge)
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Exhausted
  • #796,387
  • Dec 12, 2023 1:04am Dec 12, 2023 1:04am
It is purely lucky short trade.

Yeah, lucky.

My DD was rising... do not know what to do but had stop in place.

That drop really helped me to book profit.

Now, nothing to do.

Either keep quiet or wait for CPI
Attached Image (click to enlarge)
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Intraday only.
  • #796,388
  • Dec 12, 2023 1:06am Dec 12, 2023 1:06am
Another completely bogus spike.
The Claimant count data was lower than expected suggesting economic stability at the very least and no need to adjust rate policies. Wage increases were lower than expected.
This produces a 230 point spike! Right! Firmly in the camp that believes that news releases simply provide the market with opportunities to adjust prices and hunt for liquidity.
  • #796,389
  • Dec 12, 2023 1:07am Dec 12, 2023 1:07am
Back to pre data levels. The spike down usually tells me data wasn’t good as expected or worse than before.. but on the FF calendar it looks to be better than expected?
Insane in the Brain..
  • #796,390
  • Dec 12, 2023 1:09am Dec 12, 2023 1:09am
dropped 20 pips and came back up
Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 19 KB
yes yes yes
  • #796,391
  • Dec 12, 2023 1:09am Dec 12, 2023 1:09am
Sold 1.2582, stop 1.2595, target 1.2552.
Data + Stat + Risk/Emotions Management
  • #796,392
  • Dec 12, 2023 1:11am Dec 12, 2023 1:11am
Quoting dantpm
Another completely bogus spike. The Claimant count data was lower than expected suggesting economic stability at the very least and no need to adjust rate policies. Wage increases were lower than expected. This produces a 230 point spike! Right! Firmly in the camp that believes that news releases simply provide the market with opportunities to adjust prices and hunt for liquidity.
You will be able to build a firm system around this then. ie, 2 positions open just before the news going each way, tights spots, let one trigger, close the other. Lots of people wait to see confirmation... these days, the confirmation they wait for WAS the move they needed to be in
Emotional Control. Process, not outcome.
  • #796,393
  • Edited 1:24am Dec 12, 2023 1:14am | Edited 1:24am
Quoting BeeTogether
Back to pre data levels. The spike down usually tells me data wasn’t good as expected or worse than before.. but on the FF calendar it looks to be better than expected?
as dantmp explained , less is positive , so stop hunt to proceed , typical news effect , ok , waiting target at high !
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 12 KB
Click to Enlarge Name: GBPUSDM51.png Size: 15 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #796,394
  • Dec 12, 2023 1:14am Dec 12, 2023 1:14am
Quoting dantpm
Another completely bogus spike. The Claimant count data was lower than expected suggesting economic stability at the very least and no need to adjust rate policies. Wage increases were lower than expected. This produces a 230 point spike! Right! Firmly in the camp that believes that news releases simply provide the market with opportunities to adjust prices and hunt for liquidity.
Always has been?
We're all just fishes in a tank waiting for our demise.
Exhausted
  • #796,395
  • Dec 12, 2023 1:19am Dec 12, 2023 1:19am
funny i miss the spike because i was on
closet
  • #796,396
  • Dec 12, 2023 1:22am Dec 12, 2023 1:22am
looks like it ain't going down anytime.
Will prolly exit is m1 fails to cross 20 ma ribbon
Exhausted
  • #796,397
  • Dec 12, 2023 1:22am Dec 12, 2023 1:22am
Quoting voeltoez
funny i miss the spike because i was on closet
It happens, lol.

In my home, closet is nearby to my PC, I can come back soon.

Intraday only.
  • #796,398
  • Dec 12, 2023 1:24am Dec 12, 2023 1:24am
Quoting voeltoez
funny i miss the spike because i was on closet
It happens, I once looked away from chart for mere seconds and i completely missed it
Exhausted
  • #796,399
  • Dec 12, 2023 1:32am Dec 12, 2023 1:32am
Quoting Konichiwhaat
{quote} You will be able to build a firm system around this then. ie, 2 positions open just before the news going each way, tights spots, let one trigger, close the other. Lots of people wait to see confirmation... these days, the confirmation they wait for WAS the move they needed to be in
I have seen several people try this and occasionally get taken out with teaser spikes both ways before the real spike occurs. Are you setting up 'hidden pending' trades or posting them on the system?
  • #796,400
  • Dec 12, 2023 1:32am Dec 12, 2023 1:32am
The data release from DailyFX
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_2061.png Size: 114 KB
Insane in the Brain..
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