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Cable Update (GBPUSD)

  • #797,041
  • Dec 14, 2023 6:44am Dec 14, 2023 6:44am
Quoting Pat Chiko
{quote} Bear Squeeze (must be read in conjuction with two of my previous post) FOMC Aftermath: Capitalize on Post-Event Reversion with Market Maker Momentum Following the monumental impulse triggered by the FOMC announcement, the market is primed for a corrective retracement. This predictable behavior presents a golden opportunity for savvy traders to capitalize on the herd mentality. Savvy market makers, ever vigilant, see this as fertile hunting ground for unsuspecting short-sellers lured by the prospect of a pullback. This, my friends, is the...
GU

Today set up is as clear as sky, unless you use low time frame chart to trade.
Look at Structure, then S&R zone , BO/RT zone , then LQ zone
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #797,042
  • Dec 14, 2023 6:58am Dec 14, 2023 6:58am
You shell not pass 1.27238
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yes yes yes
  • #797,043
  • Dec 14, 2023 6:59am Dec 14, 2023 6:59am
Quoting BeeTogether
Some not as significant data in an hour let’s see if it can help the dollar gain a bit of respect lol. In the mean time I need to asses when to exit short
The tech swing level is 2733.
Intraday only.
  • #797,044
  • Dec 14, 2023 7:00am Dec 14, 2023 7:00am
Quoting Moty
You shell not pass 1.27238 {image}
I think need be ready, that price can go there...
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  • #797,045
  • Dec 14, 2023 7:02am Dec 14, 2023 7:02am
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Could not resist myself, 3 Sell positions in GBPUSD
Small lot sizes, big wins
  • #797,046
  • Edited 7:25am Dec 14, 2023 7:02am | Edited 7:25am
Quoting voeltoez
{quote} i thought u are not trade..how much loss?
7k hahaha.
Got whipsawed hard yesterday
Exhausted
  • #797,047
  • Dec 14, 2023 7:05am Dec 14, 2023 7:05am
Quoting Elysion
{quote} 7k hahaha. Got whipsawed hard.

Was way too fixated on 1 minute chart and didn't notice what should and can be seen on big picture.
That's why Im moving up in timeframes to help this approach while adjusting my system to suit that timeframe
Exhausted
  • #797,048
  • Dec 14, 2023 7:09am Dec 14, 2023 7:09am
Hi new here. Damn, some of yal have 7k to trade??
  • #797,049
  • Dec 14, 2023 7:13am Dec 14, 2023 7:13am
Quoting Yngwie
{quote} i follow 1.2715
news coming up. closed 17p
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #797,050
  • Dec 14, 2023 7:18am Dec 14, 2023 7:18am
Quoting JackintheBox
{quote}
UK looks not good from numbers, Inflation is low and they should lower the rates - but it will not happen most people say.
Expect same numbers and probably a drop on GBP, so GBP/USD down.
It is a classical dilemma i would say: If they lower the rates today GBP will dump (due to less interest rates but good for economy), if they keep it GBP will dump also (because economy would need probably lower rates). Let's see. no position for me yet.

Hi Jack,

I've been impressed by your analysis of UK data releases and how you translate them into actionable trading opportunities.
Your analytical skills are sharp!

However, I noticed a potential oversight in your recent analysis of GBP.
While focusing on GBP's internal strength, it's crucial to consider the opposing currency's role, in this case, USD.

In this instance, the USD's relative weakness is providing tailwinds for GBP, making it easier for GBP to capitalize on its momentum.

To illustrate this point, consider GBP/JPY.
While GBP appears weak against JPY, the stronger JPY is primarily driven by its own internal factors, including recent economic policy changes.
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This highlights the importance of analyzing both sides of the currency pair.
Therefore, when analyzing any currency, it's vital to consider the context of its counterpart, as overlooking this can lead to missed opportunities or even stop-outs, as I've experienced myself.
Isolating GBP for analysis is insufficient.
Understanding the dynamics of its opposing pairs is crucial for a balanced and comprehensive trade decision.

Overall, your insights are valuable, and I believe incorporating this wider perspective will further enhance your analysis.
Best wishes for your continued success!

PAT CHIKO
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #797,051
  • Dec 14, 2023 7:24am Dec 14, 2023 7:24am
If the swing high, 2733 breaks, sky high, 1.2800 is destination for this week end, which is likely.

Today, may be reprieve for dollar.
Intraday only.
  • #797,052
  • Dec 14, 2023 7:26am Dec 14, 2023 7:26am
Quoting Bebetucho
Hi new here. Damn, some of yal have 7k to trade??
7k is still rookie amount.
There are veterans with 100k+ capital
Exhausted
  • #797,053
  • Dec 14, 2023 7:27am Dec 14, 2023 7:27am
Quoting Elysion
{quote} Was way too fixated on 1 minute chart and didn't notice what should and can be seen on big picture. That's why Im moving up in timeframes to help this approach while adjusting my system to suit that timeframe
Yes bro, you are starting to get it, I used to look at 5m, then 15m, now I only look at daily and play the slow and steady game, don't need to get stressed up looking at fast paced chart all day, getting hurt by the slightest spread change. Spread doesn't bother anymore the higher up you go in timeframe.

Another very good thing is, the higher TF the more reliable the backtest is, backtest is not sensitive to the slight changes in market condition.
Backtest result below, been live for a month now and it is doing fine, looking forward to get a full year's worth of forward test, then publish my result publicly.
Been hard at work thinking trading ideas, and work closely with a coder, to come up with this baby.

Hope you recover your gainz soonest possible.
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https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 63.0%
  • #797,054
  • Dec 14, 2023 7:31am Dec 14, 2023 7:31am
Quoting Reverso
{quote} Yes bro, you are starting to get it, I used to look at 5m, then 15m, now I only look at daily and play the slow and steady game, don't need to get stressed up looking at fast paced chart all day, getting hurt by the slightest spread change. Spread doesn't bother anymore the higher up you go in timeframe. Another very good thing is, the higher TF the more reliable the backtest is, backtest is not sensitive to the slight changes in market condition. Backtest result below, been live for a month now and it is doing fine, looking forward to get...
Wouldn't daily be difficult to approach? Because the price can still move from one end to another in a single NY session. Highest I've tried to trade directly in it with my system is 1 hour chart.

But if you're doing fine I would assume you have your approach on method to trade on daily timeframe view.

Nice, hope to see your result publicly one day.

and thanks man.
Exhausted
  • #797,055
  • Dec 14, 2023 7:32am Dec 14, 2023 7:32am
GU

Another BO/RT move ?
With next H4 OB as target ?

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #797,056
  • Dec 14, 2023 7:35am Dec 14, 2023 7:35am
Wow, stong numbers from US- again. But market is not really willing to accept it. Drop was quite low for the numbers I would say.
  • #797,057
  • Dec 14, 2023 7:35am Dec 14, 2023 7:35am
Quoting Pat Chiko
GU Another BO/RT move ? With next H4 OB as target ? {image} {image}
Data came good for US, that can influence to price for today, I'm on the fence...
  • #797,058
  • Dec 14, 2023 7:37am Dec 14, 2023 7:37am
Quoting Pat Chiko
GU Another BO/RT move ? With next H4 OB as target ? {image} {image}
Retracements and range for a bit before breaking 1.273 to 1.275 for today?
Next zone I assume would be 1.280
Unless 1.273 isn't broken today.
Exhausted
  • #797,059
  • Dec 14, 2023 7:44am Dec 14, 2023 7:44am
cable short at 1.27450.
  • #797,060
  • Dec 14, 2023 7:45am Dec 14, 2023 7:45am
fed meeting was dovish enough for the market to not care about the strong numbers today Hold
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