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Cable Update (GBPUSD)

  • #808,001
  • Edited 5:43pm Feb 7, 2024 4:07am | Edited 5:43pm
sold 1.2635 sl 1.2645
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #808,002
  • Feb 7, 2024 4:11am Feb 7, 2024 4:11am
Quoting Ferna
{quote} Added shorts to 1.2620.
added shorts 1.2635. Took some long scalps to protect shorts. +5
got some more long hedges pending. GU strong
You have an IQ lower than 90 if you interact with this user.
  • #808,003
  • Feb 7, 2024 4:12am Feb 7, 2024 4:12am
Quoting BeeTogether
{quote} im thinking similar, the current bullish run needs to slow down.. nearly jumped in when we saw a drop from 12630 to 12617 but it just bounced up.
Haha I almost jumped into as well. But my guts feeling say no, so I was hesitated then it pulled up.

I agree with you. Bull are 100pips already since its reversal during NY session on Monday. At least 50pips correction should be given if it wants to go further.
With courage, patience, and discipline, success is a matter of time.
  • #808,004
  • Feb 7, 2024 4:15am Feb 7, 2024 4:15am
Quoting TraderFX.Id
already 3 order loss today...lucky im not averaging it.. last trade short 2633 sl 2663 tp open..
closed be,, better wait 2650 than averaging
dont teach me how to buy. im sellers!!
  • #808,005
  • Edited 5:08am Feb 7, 2024 4:15am | Edited 5:08am
...interesting comment by Janet Yelland the U.s Treasury Sec, (ex Fed Chairwoman,) y/day I think, that to paraphrase '...fiscal responsibility doesn't necessarily involve a balanced budget.' ( Mr Fanciful and his Ponzi scheme theory came to mind - lol!) But, really if that isn't an indication that the democrats at least, and probably the republicans as well if Trump gets re-elected in Nov, (if his 1st term is any indication,) will just keep hoping that the deficit spending increases GDP and therefore tax take, and that this will pay for the extra borrowing. At some point though they will surely run out of lenders willing to lend to them?
Trader with an Edge.
  • #808,006
  • Feb 7, 2024 4:16am Feb 7, 2024 4:16am
buy 1.26357
SL 1.26146
  • #808,007
  • Feb 7, 2024 4:18am Feb 7, 2024 4:18am
Quoting satheesh
{quote} this one according to current down swing {image}
thank u, not an OB according to my knowledge.
  • #808,008
  • Feb 7, 2024 4:25am Feb 7, 2024 4:25am
...last 1hr, and 4hr (on gmt+2 feed) closed as bullish engulfings. 4hr now has a repeating pattern of bearish hidden div which like 2hr may stay valid on any deeper upmove pullback of the 2772-2519 down move, whilst below 2772, but of course no next higher t/f (dly-in this t/f combo) downtrend is present, as discussed earlier.

4hr below
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB
Trader with an Edge.
  • #808,009
  • Feb 7, 2024 4:29am Feb 7, 2024 4:29am
Quoting Headland
...interesting comment by Janet Yelland the U.s Treasury Sec, (ex Fed Chairwoman,) y/day I think, that fiscal responsibility doesn't necessarily involve a 'balanced budget. ( Mr Fanciful and his ponzi scheme theory came to mid - lol!) But, really if that isn't an indication that the democrats at least, and probably the republicans as well if Trump gets re-elected in Nov, (if his 1st term is any indication,) will just keep hoping that the deficit spending increases GDP and therefore tax take, and that this will pay for the extra borrowing. At some...


Picture the US$ losing its status as a reserve currency because of the nature of currency markets in 2024 vs 1900 (time for a change?). What does that do the US money supply justification that their debt is required to maintain their reserve currency status.



More likely than the US actually collecting more tax revenue. If (and its a very big if) something was done to increase tax revenue in the US, the US would promptly spend it!

The reason the US hates the BRIC is that it circumvents US financial control of all of the BRIC nations and challenges the US's reserve currency status.

All of this is why the US is trying to start a WW to take the focus off of US debt, deficits and spending.

  • #808,010
  • Feb 7, 2024 4:32am Feb 7, 2024 4:32am
Quoting Whale
{quote} thank u, not an OB according to my knowledge.
Of course, it is the first 4 hour support broken becomes resistance now. I use SMC terms only to note the supply, demand and SR levels.But i always follow the Price action trading
Read the chart... Fundies are catalyst...
  • #808,011
  • Feb 7, 2024 4:40am Feb 7, 2024 4:40am
Quoting dantpm
{quote} Picture the US$ losing its status as a reserve currency because of the nature of currency markets in 2024 vs 1900 (time for a change?). What does that do the US money supply justification that their debt is required to maintain their reserve currency status. ...
Hi. Interesting theory. The continual U.s defecit spending, adding to their already colossal/un-repayable (Govt and other) debt piles -and- the polarization of their politics, and potential for political/social unrest thereto, is what forms the basis of the counter-narrative to a continual strong $ thesis. Of course if taking a fundie/global macro view and expressing it through trades, timing is everything, as it is in technical trading. I can think of many times when I was a Bank then Hedge fund trader (in another life,) that we kept getting told (after the loss) that we had the right analysis, but at the wrong time, which for me made it the wrong analysis because it amounted to a loss. You gotta be right, @ the right time.
Trader with an Edge.
  • #808,012
  • Feb 7, 2024 4:58am Feb 7, 2024 4:58am
Quoting Headland
...last 1hr, and 4hr (on gmt+2 feed) closed as bullish engulfings. 4hr now has a repeating pattern of bearish hidden div which like 2hr may stay valid on any deeper upmove pullback of the 2772-2519 down move, whilst below 2772, but of course no next higher t/f (dly-in this t/f combo) downtrend is present, as discussed earlier. 4hr below {image}
H4 looks like V shape pattern. And daily candle will be looked like Three Outside Up if Bull continues its pushing until the end of the day.
With courage, patience, and discipline, success is a matter of time.
  • #808,013
  • Feb 7, 2024 5:14am Feb 7, 2024 5:14am
Quoting TraderFX.Id
already 3 order loss today...lucky im not averaging it.. last trade short 2633 sl 2663 tp open..
cmon sellers..lets pray together its not goin rocket at NY
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20240207_181235.png Size: 9 KB
dont teach me how to buy. im sellers!!
  • #808,014
  • Edited 5:35am Feb 7, 2024 5:16am | Edited 5:35am
Quoting TraderFX.Id
{quote} cmon sellers..lets pray together its not goin rocket at NY {image}
Hi, price challenging wide 4hr part of a prev 1hr/4hr sw hi zone = prev res = pot rbs, @ the current p/back lo.
58% 30day adr traveled so far today, 65% of 13wk awr so far this week.

4hr below
Attached Image (click to enlarge)
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Trader with an Edge.
  • #808,015
  • Feb 7, 2024 5:23am Feb 7, 2024 5:23am
Channel H1 vertical down, it changes slowly. Channel H4 didnt change 25700-27600.
  • #808,016
  • Feb 7, 2024 5:24am Feb 7, 2024 5:24am
I have changed my bias for today before i was looking for shorts now based on daily candle it has room to go more up so will be looking for longs ….
Extreme gut feeling trader
  • #808,017
  • Feb 7, 2024 5:31am Feb 7, 2024 5:31am
Quoting TraderFX.Id
{quote} cmon sellers..lets pray together its not goin rocket at NY {image}
partial closed at be
dont teach me how to buy. im sellers!!
  • #808,018
  • Feb 7, 2024 5:33am Feb 7, 2024 5:33am
...so it's pot rbs -vs- pot sbr on 4hr (see chart in my post above.)

Meantime 1hr is in an uptrend, and intraday is bullish so far today. It's been a steep rise off 2519 current wkly lo in a narrow 1hr channel, ie shallow p/backs so far.

1hr below
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 35 KB
Trader with an Edge.
  • #808,019
  • Feb 7, 2024 5:44am Feb 7, 2024 5:44am
Quoting ScalaFX
{quote} Sell now 2617 will add some
2617, 2nd 2633
People don't plan to lose. They lose because they don't plan.
  • #808,020
  • Feb 7, 2024 5:52am Feb 7, 2024 5:52am
Quoting ScalaFX
{quote} 2617, 2nd 2633
are you sure its not go to 2650?
dont teach me how to buy. im sellers!!
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