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Cable Update (GBPUSD)

  • #812,321
  • Feb 28, 2024 1:34am Feb 28, 2024 1:34am
Long 1.2646
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #812,322
  • Feb 28, 2024 1:34am Feb 28, 2024 1:34am
Quoting HaLBot
{quote} I think were talking about two different things. US was under the real threat of going bankrupt if all these countries exchanged their dollars for gold. Not sure what that has to do with inflation? Also Nixon took the fall for watergate while never knowing what actually happened. Democrats have always had the MSM in their back pockets and used it to great effect over the Watergate scandal. Not making any excuses for Nixon's actions to do with watergate or any other event. On a side note when asked who killed JFK, after a long pause he said...
How is it possible to trade USD in for gold? No, gold stays in the storehouse, and banknotes get passed around and used as currency based on the value of the gold. So, please explain how the U.S. was at risk of bankruptcy? Unless we were borrowing more than we could pay back? Yeah, then that would be a problem. Only greedy deep state politicians would do that, then dig a deeper pit and cheat by developing a financial system outside of the gold standard, force the world economy to adhere to it, and blame the fallout on a puppet like Nixon. Sounds about right...
Sleepy Joe is yet another such puppet.
You cannot fail if you never give up.
  • #812,323
  • Feb 28, 2024 1:34am Feb 28, 2024 1:34am
1.26/30 area still looks good for shorties, but GU looks to be building levels for north off there.
Compulsions can be hard to resist
  • #812,324
  • Feb 28, 2024 1:35am Feb 28, 2024 1:35am
Quoting dantpm
{quote} I thought you indicated that you were going to stop trading everything but GU? What happened to that decision?
I switched once again! I think finding setup is better than sticking to one pair…

I’m a set up trader. Once my setup appears on a pair I’ll take the trade.

The setup may form on GU once in a week that would often time limit my trading/profitability
My telegram: https://t.me/avidforex
  • #812,325
  • Feb 28, 2024 1:37am Feb 28, 2024 1:37am
Quoting montygoldy
Trying long scalp on cable….10 pips or more…
sl hit cable too weak.. out for today …
Extreme gut feeling trader
  • #812,326
  • Feb 28, 2024 1:37am Feb 28, 2024 1:37am
Quoting 7154Superman
{quote} How is it possible to trade USD in for gold? No, gold stays in the storehouse, and banknotes get passed around and used as currency based on the value of the gold. So, please explain how the U.S. was at risk of bankruptcy? Unless we were borrowing more than we could pay back? Yeah, then that would be a problem. Only greedy deep state politicians would do that, then dig a deeper pit and cheat by developing a financial system outside of the gold standard, force the world economy to adhere to it, and blame the fallout on a puppet like Nixon....

Back before Nixon took the Dollar of the gold standard every single dollar was backed by gold. You could go into any bank and swap your doller for the equivalent in gold.
Now think what would have happened if all the countries in the world decided to exchange dollars for US gold stored at fort knox?
The country would have been bankrupted!!
Don't Leave Money on the Table
  • #812,327
  • Feb 28, 2024 1:38am Feb 28, 2024 1:38am
Quoting TraderFX.Id
{quote} maybe buy stop 2642 at H4 eMA200 will be good
Wouldn't selling every pullback be easier?
Timing that retracements isn't easy... have fun though!
  • #812,328
  • Feb 28, 2024 1:38am Feb 28, 2024 1:38am
Quoting 7154Superman
{quote} How is it possible to trade USD in for gold? No, gold stays in the storehouse, and banknotes get passed around and used as currency based on the value of the gold. So, please explain how the U.S. was at risk of bankruptcy? Unless we were borrowing more than we could pay back? Yeah, then that would be a problem. Only greedy deep state politicians would do that, then dig a deeper pit and cheat by developing a financial system outside of the gold standard, force the world economy to adhere to it, and blame the fallout on a puppet like Nixon....

he dont know what hes talkin about...nobody was gona get a speck of gold from usa from 1934 on

i posted links about that when i answered you earlier but i guess nobody clicked em cause ignorance is bliss LOL
Quoting Zebi
{quote} it was FDR during the height of the depression and then nixon in 1971...another criminal type like trump ...that put the final nail into the gold standard https://www.federalreservehistory.or...s-gold-program https://www.federalreservehistory.or...rtibility-ends so you want to go back to the 60's before or after LBJ's great society and civil rights acts that finally ended jim crow apartheid in america ? or to the time before the great depression to al capone days i dont know if criticizing nixon and calling him a deep stater will sit well with conservatives and may get you in trouble ..he's almost as saintly as ronnie reagan to that bunch
short trump and go long the deepstate
  • #812,329
  • Feb 28, 2024 1:41am Feb 28, 2024 1:41am
I knew it, Forex is a computer program!
this is my AUDUSD TRADE ENTRY!!!!

It would sometimes fail, if the same setup form on a high time at the time. The higher time setup would override the lower time frame. I’m sure that’s why it fails sometimes.
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My telegram: https://t.me/avidforex
  • #812,330
  • Feb 28, 2024 1:42am Feb 28, 2024 1:42am
Quoting Whatevs
{quote} Wouldn't selling every pullback be easier? Timing that retracements isn't easy... have fun though!
yeah i think bull still have chance before next H4 close
dont teach me how to buy. im sellers!!
  • #812,331
  • Feb 28, 2024 1:45am Feb 28, 2024 1:45am
Quoting BigNumbers
{quote} if set up fails… You can take the opposite trade asap. For example as soon as the EURNZD short trade failed, I took long on EURNZD. And even other trade I’m currently in. I’m looking into why the programe fail sometimes but this programe is profitable! I took AUDUSD short, AUDCHF short with same programe/strategy
Considering you went short both AUD/USD and AUD/CHF I assume you have split the risk since both trades contain AUD... or?
Philosophy is if you have two trades with the same currency, then you split risk, because if AUD goes the other direction you won't lose as much money...
  • #812,332
  • Feb 28, 2024 1:45am Feb 28, 2024 1:45am
Quoting HaLBot
What is the reason for this dollar buying during Asian and now Frankfurt, anyone?? {image}
Smart money + fundamental macro economics catching up and overpowering short/medium term technical price action patterns. Like Zebi has been saying, not a matter of if, but when it drops, it will drop hard and far.
The last few months seems to have been a lot of bearish consolidation on GBP/USD. And on EUR/USD, final retrace / test of the 200 Day SMA before the free fall to parity.
This drop tonight is only a sign of more to come.
GBP/USD could drop to 1.22 - 1.21 within the next 2 weeks.
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You cannot fail if you never give up.
  • #812,333
  • Feb 28, 2024 1:48am Feb 28, 2024 1:48am
Dollar stating to ease a bit but is it just a breather or time to buy GU and EU
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Don't Leave Money on the Table
  • #812,334
  • Feb 28, 2024 1:51am Feb 28, 2024 1:51am
the setup forms on USDJPY As long and AUDUSD as short which invariably means we are going to short GU But I won’t take it because the setup is not too clear on GU.
I can only sell below the dotted grey line.
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My telegram: https://t.me/avidforex
  • #812,335
  • Feb 28, 2024 1:51am Feb 28, 2024 1:51am
Quoting BigNumbers
{quote} I switched once again! I think finding setup is better than sticking to one pair… I’m a set up trader. Once my setup appears on a pair I’ll take the trade. The setup may form on GU once in a week that would often time limit my trading/profitability
that requires a lot of data, no?

I have to know the stats on any set up on any pair on any tf. Imagine having to get all that data for all the pairs.
Personal Journal...https://www.forexfactory.com/thread/1260265-the-journal
  • #812,336
  • Feb 28, 2024 1:52am Feb 28, 2024 1:52am
Quoting TraderFX.Id
{quote} yeah i think bull still have chance before next H4 close
You know what time it is? Time to buy Gold with big lots!!??
No...

It's time for a coffee hahahah...
  • #812,337
  • Feb 28, 2024 1:53am Feb 28, 2024 1:53am
Quoting HaLBot
{quote} I think were talking about two different things. US was under the real threat of going bankrupt if all these countries exchanged their dollars for gold. Not sure what that has to do with inflation? Also Nixon took the fall for watergate while never knowing what actually happened. Democrats have always had the MSM in their back pockets and used it to great effect over the Watergate scandal. Not making any excuses for Nixon's actions to do with watergate or any other event. On a side note when asked who killed JFK, after a long pause he said...
Pretty sure that the US wouldn't have gone bankrupt. The economic problem at the time was inflation with interest rates around 20%. In the US all interest is tax deductible from income so this contributed to more inflation. The US was supporting their military interference all over the world. They refused to increase taxes to pay for their war efforts which is still the case. Too feed and house workers, unions kept demanding higher wages causing more inflation. So I am pretty sure fully deductible interest from income, interest rates of 20+%, wasteful government spending and a refusal in the US to raise taxes to pay for government spending were some of the key factors to undermining confidence in the US$ that led to a lack of confidence in the US$ and the run on the US$ that threatened the gold reserves.

Nixon took the fall for Watergate to avoid jail time!

My comment about inflation was tied more to the role increasing the money supply has had in inflation or essentially currency devaluation over the past 50 years.
  • #812,338
  • Feb 28, 2024 1:54am Feb 28, 2024 1:54am
Quoting hamedsna
{quote} close all will buy below 450 for scalp
oops missed my order by 2 pips
delete order and wait for london action
gbp jpy short still open
  • #812,339
  • Feb 28, 2024 1:55am Feb 28, 2024 1:55am
@scalafx are we ready to launch the rocket now?
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dont teach me how to buy. im sellers!!
  • #812,340
  • Feb 28, 2024 1:55am Feb 28, 2024 1:55am
Quoting Whatevs
{quote} Good you mentioned since it's only impactful news today... I still stand by my opinion that GDP will come out hotter than expected. You mean miss as in lower than 3.3% or higher?
By miss I meant lower than 3.3%.
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