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Cable Update (GBPUSD)

  • #822,481
  • Apr 21, 2024 1:12pm Apr 21, 2024 1:12pm
Quoting davelansing
{quote} Just curious, do you always base your decision of trading the majors based on their cross pair, knowing that the direction of the cross pair is strictly dictated by the price moves of its component majors? Are you using the cross pair as a visual proxy? Best, Dave
Hi Dave, and the short answer is no. There are multiple trade entry triggers that I use. The PA on the crosses is but one of these. Candles, candle patterns, S&R, fibs, trend-lines, finger on the pulse of underlying market sentiment (that last one can be tricky). The PA on the crosses is merely one aspect of trade entry confirmation that I look for.

To my thinking, the crosses are the Yin/Yang of the majors - they're important (about 10-20% of the equation) but not everything. There are numerous inter-relationships not just between obviously corresponding pairs but also with other (at times) seemingly unrelated things, including fundies (or more specifically the data competition between "sister" currencies), and the status of the pair in market's eyes, e.g. Euros can be used to settle international contracts of trade (USD is main currency for settlement), but GBP cannot. GBP also tends to be market's play thing bec of the normally strong moves but can get dumped when the demand for USD increases, whereas Euros are held.

Only exception to this is when trading AUD and NZD. In those cases, the PA on the crosses is paramount.
  • #822,482
  • Apr 21, 2024 1:17pm Apr 21, 2024 1:17pm
Quoting Waveskierrob
{quote} I love you Leon.... {image}
IMO, retail traders need to be like this kid to really earn something from the market XD
  • #822,483
  • Apr 21, 2024 1:41pm Apr 21, 2024 1:41pm
The Harder You Try, The Worse It Gets - Miyamoto Musashi (youtube.com)
chaos is just unknown order
  • #822,484
  • Apr 21, 2024 3:36pm Apr 21, 2024 3:36pm
i rushed home on such a beautiful day so i can be here with my friends for the currency open...i feel all tingly from anticipation

Inserted Video
short trump and go long the deepstate
  • #822,485
  • Apr 21, 2024 3:48pm Apr 21, 2024 3:48pm
GBPUSD price action on the daily time frame is bearish. Presently, price action is tackling the 1.236887 horizontal support area. The dominant technical structure is bearish.

I may be wrong. Trade safe and prosper.

KP


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Do your homework, follow the footprints of smart money
  • #822,486
  • Apr 21, 2024 4:15pm Apr 21, 2024 4:15pm
GU Daily
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  • #822,487
  • Apr 21, 2024 4:39pm Apr 21, 2024 4:39pm
Quoting Zebi
i rushed home on such a beautiful day so i can be here with my friends for the currency open...i feel all tingly from anticipation https://youtu.be/Vr9m6pEZNJI
If only you had a child by the time you're 60, you'd have something else to do...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #822,488
  • Edited Apr 22, 2024 6:04am Apr 21, 2024 5:08pm | Edited Apr 22, 2024 6:04am
Quoting Zebi
i rushed home on such a beautiful day so i can be here with my friends for the currency open...i feel all tingly from anticipation https://youtu.be/Vr9m6pEZNJI
waiting on the drop to the one hour zone to take the bulls train to the upside gbpjpy that is

caught 100 dollars on on the downside for gbpjpy going with the @ 0.32 lot to the 4hr now to 192.787 you in the trade bro?
  • #822,489
  • Apr 21, 2024 5:14pm Apr 21, 2024 5:14pm
Prediction gbpusd will drop to 1.21 zone (4hr and daily support liquidity area) to bounce to the 1.24 and 1.27 areas I'll buy in that area
  • #822,490
  • Apr 21, 2024 5:25pm Apr 21, 2024 5:25pm
Quoting Godspromise
Prediction gbpusd will drop to 1.21 zone (4hr and daily support liquidity area) to bounce to the 1.24 and 1.27 areas I'll buy in that area
Hi,
If we get to 1.21 area, then the Pound is toast.
I'm more interested in the 1.23 support zone for buys.
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Compulsions can be hard to resist
  • #822,491
  • Apr 21, 2024 5:38pm Apr 21, 2024 5:38pm
Dodgers v Mets 10-0 Game Amazing 5th !!!! (Sorry off topic but I don't give a shit LOL) OK, time to look at market now
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  • #822,492
  • Apr 21, 2024 5:44pm Apr 21, 2024 5:44pm
Quoting trumps
{quote} Hi, If we get to 1.21 area, then the Pound is toast. I'm more interested in the 1.23 support zone for buys. {image}
im just showing my technical analysis bro that's what I am seeing from zone to zone liquidity to liquidity and when I check the fundamentals it has sunday and Monday there is a zone at 1.22 that can be taken into consideration that is more likely than 1.21 though
I didn't see the 4 hr zone at 1.22
  • #822,493
  • Apr 21, 2024 5:45pm Apr 21, 2024 5:45pm
Quoting Jade Gate
Mets v Dodgers 0-10 Game Amazing 5th !!!! (Sorry off topic but I don't give a shit LOL) {image}
Jade, Mets v. Dodgers series 2-1. Do you want to discuss Yamamoto's outing? he was lucky to get no decision...Anyway, the Dodgers are from NY too.
Always trade your own plan...I don't provide trading signals.
  • #822,494
  • Apr 21, 2024 5:50pm Apr 21, 2024 5:50pm
Quoting Coreg2004
{quote} Jade, Mets v. Dodgers series 2-1. Do you want to discuss Yamamoto's outing? he was lucky to get no decision...Anyway, the Dodgers are from NY too.

Yes I know 2-1. I was disgusted with them. Called Dave and had a few quiet words. Problem fixed.
  • #822,495
  • Apr 21, 2024 6:07pm Apr 21, 2024 6:07pm
Quoting Jade Gate
{quote} Yes I know 2-1. I was disgusted with them. Called Dave and had a few quiet words. Problem fixed.
Jade, Mets fans' attitude is: there's always next year, so we are never disappointed. Seriously. Go to see the game with SL on Saturday.
Always trade your own plan...I don't provide trading signals.
  • #822,496
  • Apr 21, 2024 6:17pm Apr 21, 2024 6:17pm
Quoting Coreg2004
{quote} Jade, Mets fans' attitude is: there's always next year, so we are never disappointed. Seriously. Go to see the game with SL on Saturday.
Someone is going to tell us to get a room shortly

But, it's a bit like market, there's always the next trade.
  • #822,497
  • Apr 21, 2024 6:26pm Apr 21, 2024 6:26pm
Quoting Jade Gate
{quote} Someone is going to tell us to get a room shortly But, it's a bit like market, there's always the next trade.
Someone is going to tell us to get a room shortly

What ever makes you happy just go 4it
  • #822,498
  • Apr 21, 2024 6:28pm Apr 21, 2024 6:28pm
Quoting Coreg2004
{quote} Jade, Mets fans' attitude is: there's always next year, so we are never disappointed. Seriously. Go to see the game with SL on Saturday.
Do you see much lower with your EW counts for gu. am looking for a liquidity drop for longs. Might just be a bounce tho
  • #822,499
  • Apr 21, 2024 6:28pm Apr 21, 2024 6:28pm
Quoting T721
{quote} Do you see much lower with your EW counts for gu. am looking for a liquidity drop for longs. Might just be a bounce tho
Liquidity drop on daily tf
  • #822,500
  • Apr 21, 2024 6:30pm Apr 21, 2024 6:30pm
Quoting T721
{quote} Do you see much lower with your EW counts for gu. am looking for a liquidity drop for longs. Might just be a bounce tho
looks like it might need one more iv and 5 before upside
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