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Cable Update (GBPUSD)

  • #826,581
  • May 22, 2024 1:51am May 22, 2024 1:51am
Quoting ScalaFX
adding shorts 2742, 45
And next 2758, pendings 65,70,75,80
People don't plan to lose. They lose because they don't plan.
  • #826,582
  • May 22, 2024 1:55am May 22, 2024 1:55am
Maybe see 128.. unless we hear BoE saying rate cuts are back on frame which I can’t see just yet
Insane in the Brain..
  • #826,583
  • May 22, 2024 1:55am May 22, 2024 1:55am
Sold 1.2758... target 1.2600... stop 1.2840
Data + Stat + Risk/Emotions Management
  • #826,584
  • May 22, 2024 1:57am May 22, 2024 1:57am
Quoting Georginson
Sold 1.2758... target 1.2600... stop 1.2840
decent target, but with little data left this week to make an impact this must be a long term target?
Insane in the Brain..
  • #826,585
  • May 22, 2024 2:02am May 22, 2024 2:02am
Quoting Headland
G/M, mostly higher than forecast Uk data react sees an upside break of Asian hi to just shy of 76.4% 2893-2300 move @ the current dly hi. 1hr/4hr 'general' uptrends remain intact. Although headline Uk Cpi @ 2.3%was higher than the 2.1% forecast, it is near the Boe/Mpc 2.0% target, although core inflation was also higher than forecast. 1hr below {image}
..that 76.4% is history, only the 85.4% fib retrace of that 2893-2300 move left - @ 2806/07 - just above the prev dly sw hi @ 2804!

4hr below
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Trader with an Edge.
  • #826,586
  • May 22, 2024 2:06am May 22, 2024 2:06am
Quoting BeeTogether
{quote} decent target, but with little data left this week to make an impact this must be a long term target?
It's mini swing trade. Also today is 22nd day of the month where high or low of the month is usually recorded followed by quick corrections.
Data + Stat + Risk/Emotions Management
  • #826,587
  • May 22, 2024 2:08am May 22, 2024 2:08am
Quoting pipcenturion
GBPUSD High of day (May 22, 2024) should be at 1.2748 Sellers should be waiting there. Happy trading everyone.
It wasn't so accurate.
I got almost 14 (fourteen) pips draw down.
  • #826,588
  • May 22, 2024 2:09am May 22, 2024 2:09am
Quoting Bones
the MoM is double target and thats a problem with the data that exists {image}
.6 dowmn to .3 mom.....where are you getting double? slightly worse than forecast but still agood result
Its all just one persons opinion
  • #826,589
  • May 22, 2024 2:10am May 22, 2024 2:10am
Not so good, bcos, I did not follow gaps properly.

I could have done more had I followed gaps correctly.

I shorted earlier.

Anyways, ok
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Intraday only.
  • #826,590
  • May 22, 2024 2:12am May 22, 2024 2:12am
Now, there is buyer line, so, I am out from short
Attached Image (click to enlarge)
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Intraday only.
  • #826,591
  • May 22, 2024 2:14am May 22, 2024 2:14am
the open is key
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #826,592
  • May 22, 2024 2:14am May 22, 2024 2:14am
Quoting BeeTogether
{quote} decent target, but with little data left this week to make an impact this must be a long term target?
If Market drops massively, that target might not be too far.
  • #826,593
  • May 22, 2024 2:14am May 22, 2024 2:14am
Quoting Bones
the MoM is double target and thats a problem with the data that exists {image}
double the target range
Compulsions can be hard to resist
  • #826,594
  • May 22, 2024 2:16am May 22, 2024 2:16am
Quoting axecap
{quote} .6 dowmn to .3 mom.....where are you getting double? slightly worse than forecast but still agood result
its still hot at that rate
The target is 2%
0.3 x12=3.6%
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #826,595
  • May 22, 2024 2:24am May 22, 2024 2:24am
Quoting Bones
{quote} its still hot at that rate The target is 2% 0.3 x12=3.6%
I disagree , you cant multiply monthly by 12....you can only look at market expectation vs actual...for the month.
The forecast was a little overambitious but actual still confirms rate cuts in June.
Anyway the market will decide who is right.
Im short GBPUSD
Its all just one persons opinion
  • #826,596
  • May 22, 2024 2:25am May 22, 2024 2:25am
Correction to 2690 possible now.
Daily s1
Intraday only.
  • #826,597
  • May 22, 2024 2:28am May 22, 2024 2:28am
Quoting navk
Correction to 2690 possible now. Daily s1
Maybe this is a chance for short.
  • #826,598
  • May 22, 2024 2:33am May 22, 2024 2:33am
Quoting axecap
{quote} I disagree , you cant multiply monthly by 12....you can only look at market expectation vs actual...for the month. The forecast was a little overambitious but actual still confirms rate cuts in June. Anyway the market will decide who is right. Im short GBPUSD
price went up on the news and Ive provided the chart that says it has to go negative near term to go to the 2% target
0.3% is double the target still, and big negative numbers are going to drop out later
it has to go negative MoM on the data that printed to stay at 2% mathematically speaking
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #826,599
  • May 22, 2024 2:35am May 22, 2024 2:35am
Quoting axecap
{quote} . Anyway the market will decide who is right. Im short GBPUSD
already decided on that news
sorry
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #826,600
  • May 22, 2024 2:44am May 22, 2024 2:44am
Quoting Bones
{quote} already decided on that news sorry
no need to apologise...
I'm not scalping.
GBP bullish for the next few weeks.
Its all just one persons opinion
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