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Cable Update (GBPUSD)

  • #796,581
  • Dec 12, 2023 11:38am Dec 12, 2023 11:38am
Continue to play mf
I'm not going anywere
You shell show me the money
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yes yes yes
  • #796,582
  • Dec 12, 2023 11:40am Dec 12, 2023 11:40am
US500
TFM15


To scary to sell
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Look right, we'll see the signs
  • #796,583
  • Dec 12, 2023 11:41am Dec 12, 2023 11:41am
I will mini scalp your ass mf
For 10 pips and 20 $
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yes yes yes
  • #796,584
  • Dec 12, 2023 11:44am Dec 12, 2023 11:44am
Quoting Pat Chiko
{quote} SP500 Still thinking of getting into LONG at FOMC tomorrow. Maybe we can see new all time highs by Christmas ?. {image}

Look right, we'll see the signs
  • #796,585
  • Dec 12, 2023 11:48am Dec 12, 2023 11:48am
Quoting BeeTogether
{quote} the dollar being so bearish yet the effects on pound not as severe? Earlier we saw dxy at 103.78 and GU at 12575 can’t seem to get the correlation to make sense
Thought on GU

This evening's GBPUSD movement appears to be primarily focused on clearing liquidity imbalances from both buyers and sellers.
Yesterday's high and low were breached, indicating the absorption of pre-placed orders.

The CPI data release likely served as a catalyst for this move, potentially amplifying existing market sentiment.
Based on current technical analysis, a potential downside target of 1.24000 could be established.

Trade with the trend and avoid second-guessing our initial bias based on temporary pullbacks.
This aligns with the principle of trading the path of least resistance.

GBPUSD is trending downwards.
Lesson learned: Avoid changing bias because of a pull back. I did this today and got stopped out.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #796,586
  • Dec 12, 2023 11:53am Dec 12, 2023 11:53am
Quoting Pat Chiko
{quote} SP500 Still thinking of getting into LONG at FOMC tomorrow. Maybe we can see new all time highs by Christmas ?. {image}

pat i know youre not a beginner but ill offer you constructive advise since you asked the room to do so in an earlier post

Thought process on GU set up for FOMC

Just sharing my thoughts as a beginner, not a trading signal. Coz I always got it wrong most of the time.
I'm still learning, so please feel free to offer constructive criticism to help me improve.

the santa claus rally doesnt happen this soon in the month

Dubbed a Santa Claus rally, this phenomenon describes a tendency for the stock market to go up by 1% to 2% over the period spanning the last five trading days of the outgoing year and the first two trading days of the incoming one.

thats from forbes and i dont think anyones gona question the capitalists on forbes magazine LOL https://www.forbes.com/advisor/inves...a-claus-rally/

sometimes has started a few days earlier in the week before.... so dont think powells gona start anything this early in the month except push up the dollar

this is the same scenario like thanksgiving only dumb ass retail traders like us that have a gambling addiction trade that week and we push price up for no TA reason which will get retraced same as thanksgiving has been LOL

What are the reasons for Santa Claus rally?
There are no generally accepted reasons for what causes the Santa Claus rally to occur. The most common reasons include: Institutional investors/traders tend to be on vacation during the last week of December, resulting in retail investors driving the stock market, of whom tend to generally be more bullish.

https://corporatefinanceinstitute.co...a-claus-rally/


you can thank me later for saving you money
short trump and go long the deepstate
  • #796,587
  • Dec 12, 2023 11:55am Dec 12, 2023 11:55am
forgot to add


if the rally starts earlier this year will be next week prolly wednesday or thursday before christmas
short trump and go long the deepstate
  • #796,588
  • Dec 12, 2023 11:57am Dec 12, 2023 11:57am
Quoting Pat Chiko
{quote} Thought on GU This evening's GBPUSD movement appears to be primarily focused on clearing liquidity imbalances from both buyers and sellers. Yesterday's high and low were breached, indicating the absorption of pre-placed orders. The CPI data release likely served as a catalyst for this move, potentially amplifying existing market sentiment. Based on current technical analysis, a potential downside target of 1.24000 could be established. Trade with the trend and avoid second-guessing our initial bias based on temporary pullbacks. This aligns...

I'm just focused on Gold. Just break away from 1982 and 1978 (critical point). Should be a displacement candle for the next targets. Maybe mitigation in 1974, 1972, or 1966. Trade safe
Look right, we'll see the signs
  • #796,589
  • Dec 12, 2023 12:02pm Dec 12, 2023 12:02pm
Quoting Pat Chiko
{quote} Thought on GU This evening's GBPUSD movement appears to be primarily focused on clearing liquidity imbalances from both buyers and sellers. Yesterday's high and low were breached, indicating the absorption of pre-placed orders. The CPI data release likely served as a catalyst for this move, potentially amplifying existing market sentiment. Based on current technical analysis, a potential downside target of 1.24000 could be established. Trade with the trend and avoid second-guessing our initial bias based on temporary pullbacks. This aligns...
GU

Some minor pull back at NYC and Tokyo.
After that , it may resume.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #796,590
  • Dec 12, 2023 12:08pm Dec 12, 2023 12:08pm
Quoting azhantahir
{quote} I'm just focused on Gold. Just break away from 1982 and 1978 (critical point). Should be a displacement candle for the next targets. Maybe mitigation in 1974, 1972, or 1966. Trade safe
on GOLD.

I consistently draw upon Goreg's insightful charts, which serve as a cornerstone for my informed trading decisions.
His recent posting Gold chart provides invaluable information and guidance, establishing itself as a critical reference point for our trading endeavors.

His post in few pages back.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #796,591
  • Dec 12, 2023 12:17pm Dec 12, 2023 12:17pm
Quoting Pat Chiko
{quote} GU Some minor pull back at NYC and Tokyo. After that , it may resume.{image}
Quarterly theory . Based on GU, the price is still in the range between 1.2566 and 1.2546. Waiting lists 1.2530 and 1.25116. That is the critical point for selling. For uptrend is 1.2584. Just a personal opinion.
Look right, we'll see the signs
  • #796,592
  • Dec 12, 2023 12:19pm Dec 12, 2023 12:19pm
Quoting Moty
I will mini scalp your ass mf For 10 pips and 20 $ {image}
Ty mister mf
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yes yes yes
  • #796,593
  • Dec 12, 2023 12:28pm Dec 12, 2023 12:28pm
Quoting Zebi
{quote} pat i know youre not a beginner but ill offer you constructive advise since you asked the room to do so in an earlier post Thought process on GU set up for FOMC Just sharing my thoughts as a beginner, not a trading signal. Coz I always got it wrong most of the time. I'm still learning, so please feel free to offer constructive criticism to help me improve. the santa claus rally doesnt happen this soon in the month Dubbed a Santa Claus rally, this phenomenon describes a tendency for the stock market to go up by 1% to 2% over the period...
The 'santa clause rally' is a super subjective, irrelevant event to financial markets as a whole. It is the definition of wishful thinking by stock traders, who have zero impact on the foreign exchange market. You missed several other potential reasons as to why the event happens in your quote:

 

  1. "Institutional investors/traders tend to be on vacation during the last week of December, resulting in retail investors driving the stock market, of whom tend to generally be more bullish.
  2. Investors/trading purchasing in anticipation of the January Effect, which is a hypothesis that there is a seasonal anomaly causing stock prices to increase in the month of January more than in any other month.
  3. A slowdown in tax-loss harvesting, which has a deadline of December 31.
  4. Optimism over a coming new year.
  5. Holiday spending."

The 'santa claus rally' (nonsense) can happen this early in the year, if the market chooses to rally, hindsight explainers like Forbes will be sure to assign it to any fundamental factor they can. Even though the santa claus rally isn't really a fundamental factor at all, more the subsequent outcome of positioning if anything. There is no meaningful evidence that suggests the santa rally effect cannot happen in early December or even late November.

You say its retail driving up price, you will never have any way of knowing who is driving up price as an individual trader, so why even try to guess who is? It's irrelevant, if the price goes up, then its goes up. Retail trader or not, supply and demand factors don't care about your trading role...

If the FED happens to be dovish this FOMC meeting and the stock market pumps, it will be called a 'santa rally' even though its an irrelevant event and caused by other factors. Try to find out what's actually driving the correlation, rather than the name of it.

Ultimately you cannot say the santa rally does not happen this early in the month with conviction, you do not know such a thing! Price is likely to retrace no matter what caused the move or if retail traders were involved or not, this is how a fair market operates.

Seeking Fair Value
  • #796,594
  • Dec 12, 2023 12:29pm Dec 12, 2023 12:29pm
Quoting Zebi
GU will prolly range between 2520 and 2590 till fomc...im counting on jerome to stick it to dollar bears

good thing i closed all my GU shorts on oanda earlier...still got some in my futures account

i didnt think price would stop and range right after i said this

ill short above 2600 and buy below 2520 till tomoro if im near the computer
short trump and go long the deepstate
  • #796,595
  • Dec 12, 2023 12:41pm Dec 12, 2023 12:41pm
Quoting Zebi
{quote} good thing i closed all my GU shorts on oanda earlier...still got some in my futures account i didnt think price would stop and range right after i said this ill short above 2600 and buy below 2520 till tomoro if im near the computer

Hahaha.. I'm in the middle of the red ocean. SL waiting
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Look right, we'll see the signs
  • #796,596
  • Dec 12, 2023 12:42pm Dec 12, 2023 12:42pm
Guys, I don't want you to take my target literally. There is always the chance that the target won't be reached or overshooted. Decide on your own.
Here is the 1H chart.
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Always trade your own plan...I don't provide trading signals.
  • #796,597
  • Dec 12, 2023 12:43pm Dec 12, 2023 12:43pm
Plenty of paintings in here, ... without words, that's how it could look like:
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  • #796,598
  • Dec 12, 2023 12:49pm Dec 12, 2023 12:49pm
Quoting Coreg2004
Guys, I don't want you to take my target literally. There is always the chance that the target won't be reached or overshooted. Decide on your own. Here is the 1H chart. {image}
I'm not alone. My target is around 1966. Hopefully
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Look right, we'll see the signs
  • #796,599
  • Edited 1:17pm Dec 12, 2023 12:58pm | Edited 1:17pm
Quoting azhantahir
{quote} I'm not alone. My target is around 1966. Hopefully {image}

i hate buying gold so im not going to but hourly and 4H signalling buy on my charts back to this mornings highs

id put buy orders at 1976 and 1975 if i was scalping

ill wait till after fomc to get back in shorts cause i rode that spike up last sunday and dont want to live thru that stupid shit again since i closed em for profits
short trump and go long the deepstate
  • #796,600
  • Edited 1:18pm Dec 12, 2023 1:07pm | Edited 1:18pm
Quoting Wavegarrick
{quote} Unless Usdx has a 4hr to daily break and hold above my yearly pivot at 104.172, I continue to look for buy opportunities on GU from a medium term perpective. Trade safe. Cheers. {image}
Much emphasis placed on Ew counts and so forth and where price will go on this forum. No one looks at the big picture and pure price action, and it is no rocket science and needs no degree or higher forex education to see where price may or not go.
My trades from a week ago still holding and my stance stays steadfast. Unless price breaks and holds above 1.26000 or below 1.25000 we are going nowhere. Of course 1.26000 stays in my books. Trading is not difficult, we make it difficult.
Cheers.
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