Cable Update (GBPUSD)

Dow , you crazy mf
You had 450 pts daily range today
This is la lot
I can trade 1 $ a point
So potentially i could made 450 $ i
Instead i lost 176 $

gu30min closed, Gold put me through the blender today. Been trying some hedging what a palaver.

possible short off the channel

GOLD

End of scalping
Setting up for long trades


The release of latest CPI data, indicating a year-on-year (YoY) increase of 3.2% in February.
This figure surpassed market expectations of 3.1%.

The core CPI, excluding volatile food and energy prices, registered a 3.8% rise, exceeding the anticipated 3.7% while remaining below January's 3.9%.
These figures triggered a temporary surge in demand for the U.S. dollar (USD) alongside an upward movement in government bond yields.

nice

18 weeks short

dow is not easy one to print money… dont go with the range look at the hourly swings… best strategy as a day trader is to have a 30-60 points sl and aim for 30-60 points .. once the trades up by 10-15 points move the sl to breakeven… coz dow swings are wild…. Easy to get multiple opportunities if you know when to get in n get out

Follow up at the of the day...I don't need to explain, all is clear for fine technical analysts here.

GU

update on scalping position.


GU : Potential Wave 4 Extension
It may suggests that GBP/USD might currently be within a Wave 4 corrective phase.

This wave can be intricate, with the correction potentially extending into a prolonged consolidation.
Multiple retracement scenarios exist, such as a 3-3-5 pattern or a WXY formation.

Close observation of price action is crucial during this period.
Wave 4 typically exhibits complex corrective behavior.

Trading Wave 4:
Challenges: Wave 4 can be challenging to trade due to potential sideways price movements and a generally smaller retracement compared to Wave 2. Additionally, volume tends to be lower than during Wave 3.
Opportunities: Despite the complexities, Wave 4 can present buying opportunities for traders who understand the potential for a subsequent Wave 5.

on fundi GBP weakened today following the release of economic data from both the UK and the US.
UK data: Indicators suggest a slowdown in wage growth and an increase in unemployment.
US data: The US dollar strengthened further.

This combination of factors, along with the possibility of the Bank of England lowering interest rates sooner than anticipated, caused the GBP/USD exchange rate to decline from its highest point in seven months.

As a potential consequence, investments may shift towards UK-based stocks, potentially offering some support to their performance which has been lagging behind so far this year.

todays daily GU candle not gona get above 2813 so still bearish...ill try shorting during asia and london if goes hier on 4H charts and if im still up

added a tiny 0.03 short @1.2793 as the price hit 20 ma on h1 tf

Tiny 0.03 long try on USDSEK @10.2350

Darn, market will ruin my sure-fire winner system if it goes any higher, just give it up USD.

Did I mention that the 61.8 fib at 1.2745 was the place to look for long? Oh yeah, I did. Twice.

So now I'm looking for a retrace to same spot and for support to hold there. Then we'll have a nice set of tweezers, one bear, one bull candle side by side on daily chart. Very reliable for further north traffic.

The art of trading this market is to stack the odds in your favour to the maximum extent possible while keeping loses to a minimum (capital protection). Some like to scalp and if that's your thing, then go for it. But the real money is made by looking for the right shoulder of a sustained move, be it north or south and keeping your finger off the trigger until your entry criteria are met.

if you dont have screenshots than it didnt happen

Quoting Ferna

Disliked

{quote} How’s the shorts doing buddy?

Ignored

This is similar question to your previous post. I've answered your inquiries consistently.
However, when I've sought the same from you, there has been a noticeable lack of reciprocity and mutual respect.
You asked on 28th Feb.


And politely replied on 29th Feb

Quoting Pat Chiko

Disliked

{quote} The good news is, GU (GBP/USD) is taking its sweet time compared to the crazy swings of other instrument. I just popped in for some pocket change, but no need to worry, most of my positions are looking good now! {image} .

Ignored

and now you came in again to ask me same question, which I can easily answer it for you, before that lets clear few things first.
Wonder why and if you're sincere in developing mutual respect here.

Quoting Ferna

Disliked

{quote} I find it interesting you now have an extra sell order at 1.28214 compared to your last post, and the only time price reached 1.28214 was 3 hours earlier. And one extra order at 1.28216 been added. Also is interesting that the timestamps and order numbers don't match with previous post. Either you have more than a "scalp" and much longer order book or you are cooking the book and got lazy. Anyways just an observation. As you wrote to me earlier today: "I'm all about transparency—I'll share my stop out stories right here and anywhere else...

Ignored

I can answer that easily, as all the numbers are there.
Provided you will do the same if I ask you in the future.
And don't try to hide any of your blunders by deleting them.
You've done it on a regular basis, which many here have noticed, and it may reflect on your integrity as an honest person.

Hints, additional positions are for continuation patterns and pullbacks within the trend, easily spotted.
Experienced traders can understand those simple maneuvers.
I cannot babysit every subsequent trades, especially those on simple and straigt forward continuation patterns.
Unless you want to play dumb or lack of reading to acknowledge that.

Quoting Ferna

Disliked

{quote} Poor Moty hope it was your own analysis though. And not taking advice from Nordling, Zebi or Chiko I’m sure they will take my advice soon, and not stubbornly persist being bears. Chiko asking me for live trade calls but will slap up some hindsight chart telling he went for a short scalp and then also longed.

Ignored

(RED highlighted sentences)
Wow, this is a serious allegation coming from a very angry person.
Why are you so angry at me ?.
On what basis you made those allegation that I cook the chart ?.
Just because price doesn't move to your favour, it doesn't mean I have the power to control it.
Please learn & understand this basic trading principles.

Study my chart in depth, i got both LONG & SHIORT position.
How on earth do you come with most stupid allegation, that I goin to cooked my trades & to go long at higher prices, whereas I've already got in long position at discount. (about the same time you went short 29th Feb. and think you get rekt for trading against me.)

First, let me ask you, are you angry at me or those people mentioned in your post?

Thus, this has been going for sometimes, from your post to me when you realize making a mistakes and asked for apology.

Quoting Ferna

Disliked

{quote} Thank you for your comment Chiko! sorry for the AI comment. Im not used to people agreeing with me As you say the market is a changing place. Do you go to Fed's page and read reports and such? or the chickago merchantile exchange? How to deal with all this information in a convenient way? spreadsheet?

Ignored

I moved on with that, assuming your unintentional error was genuine.
Until recently , you are back to the old unproductive trolling habit.


I must address an issue that has been bothering with your regarding recent interactions.
It appears that there's a significant disparity in your engagement.
While I've consistently responded to your inquiries and provided assistance, I've noticed a distinct lack of reciprocity on your part.

Despite my efforts to maintain a respectful and mutually beneficial dialogue, I've found that my inquiries often go unanswered or unacknowledged.
Some even assert that you have gone to the extent of deleting those posts as those position are not favorable to you.
Wonder why you've gone so low.

Then it's glaringly evident that you actively seek to engage in such behavior, maliciously trolling others without any justifiable cause.
I've noticed that whenever you find yourself in an unfavorable position, you become visibly agitated and aggressively target others, particularly traders who have taken positions contrary to yours.

In any professional relationship, mutual respect and reciprocity are fundamental.
However, it seems that this principle is not being upheld in your exchanges with many.

I want to stress the importance of equal participation and accountability in our discussions.
Trolling is not acceptable here or anywhere in FF.
And if you want to become Karen, you're late, that spot have been taken.

If we are to continue working together effectively, it's imperative that you contribute honestly and respond in proper behaviour.
I trust that you understand the significance of this matter and that we can rectify it moving forward.

I can offer assistance if you or anyone else wants to discuss trading, even tho I'm newbie.
However, if the attitude you're displaying here persists, you should seek professional help.

Regards,
Pat Chiko

Can't agree more.