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Cable Update (GBPUSD)

  • #805,921
  • Jan 30, 2024 6:25am Jan 30, 2024 6:25am
Quoting DrDave
{quote} as soon as EG backs off GU will bounce That is not always true. EG can "back off" along with EU, and the GU that is heading down simply keeps going down with no bounce at all. Then with all three of them going down, EU becomes the preferred pair to trade. (Perhaps you don't have a firm grasp on the EU/GU/EG relationships.)

As I said m8 it's what I see happening and happy for a more expended view
Don't Leave Money on the Table
  • #805,922
  • Jan 30, 2024 6:28am Jan 30, 2024 6:28am
Long 1.2671 SL 1.2655
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #805,923
  • Edited 6:50am Jan 30, 2024 6:29am | Edited 6:50am
Quoting HaLBot
{quote} Month end money rebalancing flows really do happen and here is an article explaining it. But I was talking about the payments the British government pays to the EU and they are still doing it but now known as divorce payments...something like 40 billion pounds over the next 30 years https://www.forexlive.com/Education/...works-20191128
Actual money flows don't necessarily impact forex values in the short term. The forex markets have HUGE amounts of liquidity! All of the various central banks can increase the money supply with buying and selling treasuries instantly so there is never a shortage or surplus of 'money'. In longer terms there is an impact. Historically cash shortages and surpluses impacted exchange rates which is where the analysis comes from.
  • #805,924
  • Jan 30, 2024 6:29am Jan 30, 2024 6:29am
Quoting ScalaFX
{quote} Gold Close all
Got something out of gold too
  • #805,925
  • Jan 30, 2024 6:29am Jan 30, 2024 6:29am
Quoting Pat Chiko
{quote} I thought it was completed in 2022.... It was, "Divorce Bill": Britain agreed to a financial settlement as part of the withdrawal agreement, estimated at around £39 billion. Maybe UK need to pay some ransom money on top of divorce bill to keep the R&D program running (Horizon Europe)


Yes Pat EU will try to get as much out of Britain as they can lol
Don't Leave Money on the Table
  • #805,926
  • Jan 30, 2024 6:30am Jan 30, 2024 6:30am
Quoting Zeiferz
just thinking out loud, EG seems to be at 4hr downtrend resistance. if it turns around will GU goes up?
The outcome of such a scenario cannot be predicted. What you can do is open the H4 chart of EU, GU, and EG and then you will see which pair of the three is preferred to trade (in the direction that EU is traveling).
To free Gazans of Hamas, use whatever it takes.
  • #805,927
  • Jan 30, 2024 6:38am Jan 30, 2024 6:38am
Gg for me once since it break 1.2670 sad day for me
  • #805,928
  • Jan 30, 2024 6:40am Jan 30, 2024 6:40am
Crooky gu mf
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yes yes yes
  • #805,929
  • Jan 30, 2024 6:41am Jan 30, 2024 6:41am
Hello. So, price has given back almost all of the rise from y/day's lo to current dly hi, challenging now the prev 1hr/4hr sw lo zone that developed going down to said y/day's 2662 lo. Right now - dly and 4hr still rangy, 1hr bearish more than anything, and intraday bearish. Asian hi remains the current dly hi and price trades below the Asian lo, after a 1st false break of it to 30min. 63% 30day adr traveled so far today.

1hr below
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Trader with an Edge.
  • #805,930
  • Jan 30, 2024 6:45am Jan 30, 2024 6:45am
...4hr rangy - currently bearish within that 2828-2610 range.

4hr with 10/20/40 ema crosses graphic below
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Trader with an Edge.
  • #805,931
  • Jan 30, 2024 6:59am Jan 30, 2024 6:59am
Bought at 1.2670 with TP as much as I can get lol, but looking for 2700
Don't Leave Money on the Table
  • #805,932
  • Jan 30, 2024 7:04am Jan 30, 2024 7:04am
Took long gj
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yes yes yes
  • #805,933
  • Jan 30, 2024 7:06am Jan 30, 2024 7:06am
Quoting HaLBot
Bought at 1.2670 with TP as much as I can get lol, but looking for 2700

EG still looking to strong at the moment
Don't Leave Money on the Table
  • #805,934
  • Jan 30, 2024 7:21am Jan 30, 2024 7:21am
Is today going to be part of a multi-day setup for Friday's NFP?
Is this part of the market's correction for the lack of movement in January that Georginson pointed out?


Saving the best for last:
Is this the market reading factory forex forums and taking positions against anyone disclosing their positions?
  • #805,935
  • Edited 7:44am Jan 30, 2024 7:25am | Edited 7:44am
welldone , watching for 2654 breaks and hold for below 2641 play ! take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #805,936
  • Edited 7:49am Jan 30, 2024 7:37am | Edited 7:49am
...y/day's 2662 lo looking vulnerable to a downside break? I wonder whether there if there is any demand in the white circled area if tested? Wkly S1, Dly S2 and 76.4% 2596-2775 in there too. Retail stops likely below those prev 4hr sw lo zones and some institutional below 2596?

4hr below
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Trader with an Edge.
  • #805,937
  • Jan 30, 2024 7:38am Jan 30, 2024 7:38am
Can somebody tell me adr fr GU today?....not able to find suitable indicator to find ADR
  • #805,938
  • Jan 30, 2024 7:55am Jan 30, 2024 7:55am
Quoting SabkaBaap
Can somebody tell me adr fr GU today?....not able to find suitable indicator to find ADR
The average daily range (ADR) is the average range of price movement that a currency pair experiences each day. ADR is calculated by taking the high and low of a currency pair for a given period, typically 14 days or one month, and calculating the average of those ranges.

The variations that you are looking at are probably as a result of the period over which the calculation is made.

You have to find the period that suits your analysis.
  • #805,939
  • Edited 8:10am Jan 30, 2024 7:55am | Edited 8:10am
Quoting Headland
...y/day's 2662 lo looking vulnerable to a downside break? I wonder whether there if there is any demand in the white circled area if tested? Wkly S1, Dly S2 and 76.4% 2596-2775 in there too. Retail stops likely below those prev 4hr sw lo zones and some institutional below 2596? 4hr below {image}
...was watching bottom of that prev 1hr/4hr sw lo zone to 2662 (y/day's lo,) = prev supp = pot supp for a bounce or break, and 5min + set-up for a bounce with a nice hammer close trigger. Will we see a repeat of y/day, ie a big bounce off the lo, -or- is y/day's lo still vulnerable to a downside break?

5min below



...gotta be looking @ the potential upside obstacles if holding the long. Maroon zone is a prev 15min sw lo zone only, = prev supp = pot sbr. Also from the point of view of R:R, ie is the risk worth the pot reward to the 1st ppa (potential problem area/obstacle.)

1hr below
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Trader with an Edge.
  • #805,940
  • Jan 30, 2024 8:04am Jan 30, 2024 8:04am
Quoting Pat Chiko
{quote} GU Maybe got luck with this trades.... {image}
GU

Gimme one spike before the upcoming data release.

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I come from the future.
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