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Cable Update (GBPUSD)

  • #829,521
  • Jun 14, 2024 2:31am Jun 14, 2024 2:31am
Quoting pipfarm
{quote} Will take a short , mistake i made was looing at at the lower timeframe ( actually it was not a mistake to look at the ltf, just looked at it the wrong way,) Shorted instead 2778 - maybe going to dump to 2558
Not a bad result for the short , except that spike on news, however i realised i was trading the B wave which itself should be a correction hence the spike to make the abc.

Now today if you look at H1 you would have seen a bit of sideways action before todays drop, this is an abc itself so only need to check the lower timeframe for the B which should be abc and wait for C to complete and hey presto the drop.
Follow The Markets Structure - Patience and Discipline
  • #829,522
  • Jun 14, 2024 2:32am Jun 14, 2024 2:32am
Quoting HaLBot
Okay I'm buying Cable and Euro here, could be wrong Taken these trades because Euro and Cable have pulled back and now I see DXY coming of it's highs so good chance Euro/Cable going to be bought at this level.... {image}

Alright Alright I was 20 minutes too early, if you got a problem with that speak to my Lawyer....
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Don't Leave Money on the Table
  • #829,523
  • Jun 14, 2024 2:33am Jun 14, 2024 2:33am
Quoting HaLBot
Okay I'm buying Cable and Euro here, could be wrong Taken these trades because Euro and Cable have pulled back and now I see DXY coming of it's highs so good chance Euro/Cable going to be bought at this level.... {image}

It may make a stand here. DXY has some resistance now. But EU traders are prone to being afraid of their own shadows at times. Watch EURCHF too.
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  • #829,524
  • Jun 14, 2024 2:33am Jun 14, 2024 2:33am
risking long 2725 for 2755, pending 20,15,10
People don't plan to lose. They lose because they don't plan.
  • #829,525
  • Jun 14, 2024 2:37am Jun 14, 2024 2:37am
Quoting Jade Gate
{quote} It may make a stand here. DXY has some resistance now. But EU traders are prone to being afraid of their own shadows at times. Watch EURCHF too. {image}

Yeah I actually did expect a good jump where I bought in but I've bought a bit more on this small pump just now, at worst I'll do 50 bucks....
Don't Leave Money on the Table
  • #829,526
  • Jun 14, 2024 2:44am Jun 14, 2024 2:44am
Quoting Jade Gate
{quote} It may make a stand here. DXY has some resistance now. But EU traders are prone to being afraid of their own shadows at times. Watch EURCHF too. {image}

Jade so you use eur/chf as a guide when making decisions about Eur/Usd??
Don't Leave Money on the Table
  • #829,527
  • Jun 14, 2024 2:48am Jun 14, 2024 2:48am
Quoting HaLBot
{quote} Jade so you use eur/chf as a guide when making decisions about Eur/Usd??
It's one of the things I look at yes. The SNB will NOT be happy about the Swissy appreciating against the Euro. Serious implications for their export trade, upon which the SNB is heavily dependent.

If trading EU, I also watch USDCHF and EURGBP, as well as keeping an eye on EURJPY. Very incestuous lot they are
  • #829,528
  • Jun 14, 2024 2:49am Jun 14, 2024 2:49am
Quoting Whale
Yeah yeah.. lol. traders became millionaire just by selling the yen. the fall of this bullshit is days away.. 178 probably the sweet spot for GJ i can't trade it because of the insane swap my broker put on short. {image}
your tp is 178 from 201.xx?
  • #829,529
  • Jun 14, 2024 2:49am Jun 14, 2024 2:49am
Quoting HaLBot
{quote} Alright Alright I was 20 minutes too early, if you got a problem with that speak to my Lawyer.... {image}
Man , hi.

may I have your lawyers name and phone number...???? I might need it...

Kind regards

  • #829,530
  • Jun 14, 2024 2:54am Jun 14, 2024 2:54am
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JY -E. and BP -5' --- Closing my short E. here . Longed BP here now. Watching JY fttb....

  • #829,531
  • Jun 14, 2024 2:55am Jun 14, 2024 2:55am
Quoting F.g
{quote} Man , hi. may I have your lawyers name and phone number...???? I might need it... Kind regards


Hahahahaha........that's Roy Coen now deceased and was Trumps lawyer in his early days and taught Trump a lot of stuff. He was the guy who said to Trump to never admit your wrong under any circumstance hence why he so pig headed.
Thing is Roy had worked out in the NY business world if you admit wrong doing in any shape or form you get slaughtered....
During meetings with other business leaders Trump would say if they have a problem speak with his lawyer and show them a photo of Roy
Don't Leave Money on the Table
  • #829,532
  • Jun 14, 2024 2:56am Jun 14, 2024 2:56am
Quoting Fishbones
{quote} your tp is 178 from 201.xx?
no, im not long term swinger but you'll see.. it will get there soon.

usually intraday trader, above 1-2 trading days it probably a hedge.
  • #829,533
  • Jun 14, 2024 3:04am Jun 14, 2024 3:04am
Quoting Reverso
At the end of the day, this section is interactive trading, I guess enough off-topic inputs from my end, and stay the course of this forum. Long bias still intact as per my system, 1.271 to 1.273 is the fair price to buy for today, 1.278 to 1.28 is the fair price to sell for today. TP for buy will be the fair price for sells, vice versa.
As long as 1.27 holds, long bias is still intact, it simply means enter more buys first before entering more sells.
If it breaks, the cycle will end and restart in Short bias, where i will prioritize entering Sells first before Buys, assuming the bias holds, the profit will keep coming as long as the imbalance is maintained at Sells > Buys.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 64.8%
  • #829,534
  • Jun 14, 2024 3:07am Jun 14, 2024 3:07am
Quoting Whale
Open sell 1.2762. Price should come down soon.
closed for 38 pips.
fair enough.
  • #829,535
  • Jun 14, 2024 3:09am Jun 14, 2024 3:09am
Quoting Whale
Im long gold, using the OF bullish momentum. Friday and early sell usually not goes together. {image}
gold positive SL.
minimum target 2326.5
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  • #829,536
  • Jun 14, 2024 3:16am Jun 14, 2024 3:16am
2320 is daily r1
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yes yes yes
  • #829,537
  • Jun 14, 2024 3:16am Jun 14, 2024 3:16am
Quoting Jade Gate
{quote} The SNB will NOT be happy about the Swissy appreciating against the Euro. Serious implications for their export trade, upon which the SNB is heavily dependent.
well...no.
Cryptic Swiss Central Bank Prompts a Pullback in Rate-Cut Bets - BNN Bloomberg
"Speaking in Seoul late last month, Jordan said a weaker franc is currently the most likely source of higher Swiss inflation, and suggested that interventions could be used to counter it. Some said the comments set out a hypothetical situation, others braced for market interventions to strengthen the franc."

furthermore SNB is selling foreign currencies reserve...

Again, Swiss Franc Dominates the Market! Are You Ready to Capitalize on Its Momentum? (economies.com)
...
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chaos is just unknown order
  • #829,538
  • Jun 14, 2024 3:17am Jun 14, 2024 3:17am
( 1.264XX next week. )

COLOR NOW :
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  • #829,539
  • Jun 14, 2024 3:21am Jun 14, 2024 3:21am
Quoting Moty
2320 is daily r1 {image}
2326.5 is low resistance high.
I will be surprised if bulls will not take it.
  • #829,540
  • Jun 14, 2024 3:22am Jun 14, 2024 3:22am
Quoting Luxyus
{quote} well...no. Cryptic Swiss Central Bank Prompts a Pullback in Rate-Cut Bets - BNN Bloomberg "Speaking in Seoul late last month, Jordan said a weaker franc is currently the most likely source of higher Swiss inflation, and suggested that interventions could be used to counter it. Some said the comments set out a hypothetical situation, others braced for market interventions to strengthen the franc." furthermore SNB is selling foreign...
Maybe you missed this bit ??

Jordan said a weaker franc is currently the most likely source of higher Swiss inflation, and suggested that interventions could be used to counter it.
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