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Cable Update (GBPUSD)

  • #835,781
  • Aug 21, 2024 2:42am Aug 21, 2024 2:42am
After the fact I can confidently say that was a bull trap
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Don't Leave Money on the Table
  • #835,782
  • Aug 21, 2024 2:42am Aug 21, 2024 2:42am
Quoting HaLBot
Dollar weakness continues... {image}
How much USD will loss its value ?.
From my newbie experience in the market, it seems like the USD is getting weaker because of what Fed Bowman recently mentioned.
He said that if inflation keeps moving toward their 2% goal, they might start lowering rates slowly to avoid being too strict.

But while the Fed talks about taking it slow, the money markets are already betting on bigger rate cuts this year and next.
With important events like the BLS payrolls revision, PMI reports, and Powell’s speech in Jackson Hole coming up, the market’s still holding onto these aggressive easing bets, which isn’t doing the dollar any favors.
Watch out for those trhee main event.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #835,783
  • Aug 21, 2024 2:45am Aug 21, 2024 2:45am
UJ M15 Third long today relying on resistance support and EMA100
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  • #835,784
  • Aug 21, 2024 2:45am Aug 21, 2024 2:45am
Quoting Pat Chiko
{quote} How much USD will loss its value ?. From my newbie experience in the market, it seems like the USD is getting weaker because of what Fed Bowman recently mentioned. He said that if inflation keeps moving toward their 2% goal, they might start lowering rates slowly to avoid being too strict. But while the Fed talks about taking it slow, the money markets are already betting on bigger rate cuts this year and next. With important events like the BLS payrolls revision, PMI reports, and Powell’s speech in Jackson Hole coming up, the market’s still...

Yes and with the election coming up they want to boost the countries financials


Spent all of yesterdays trading sessions getting nowhere lol and today made 200 bucks in less than two hours, anyway good to make the money. I was literally up till 6am(4pm NY time) here waiting for the dump which didn't happen
Don't Leave Money on the Table
  • #835,785
  • Aug 21, 2024 2:45am Aug 21, 2024 2:45am
Quoting HaLBot
After the fact I can confidently say that was a bull trap {image}
HaL


I was all hyped up, getting my horns out to short GU, and then you hit me with that anti-climax news!
Hai Yaaa... trying to squeeze out a tiny profit here!
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #835,786
  • Aug 21, 2024 2:48am Aug 21, 2024 2:48am
Quoting Pat Chiko
{quote} HaL I was all hyped up, getting my horns out to short GU, and then you hit me with that anti-climax news! Hai Yaaa... trying to squeeze out a tiny profit here!

Hehehehehehe
Don't Leave Money on the Table
  • #835,787
  • Edited 3:02am Aug 21, 2024 2:51am | Edited 3:02am
... @ the current wkly/yrly/y'day's hi - a prev 1hr/4hr sw lo zone (s) = pot sbr from July 2023. Mthly R1 a bit higher than current wkly hi in that zone, with Dly R1 above that. The rising wedge on 4hr has broken to the downside now with the 1st downside b/o of Asian lo

4hr below
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Trader with an Edge.
  • #835,788
  • Aug 21, 2024 2:54am Aug 21, 2024 2:54am
UJ Quick Attack GateAttack OPen
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Break SQ
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  • #835,789
  • Aug 21, 2024 3:08am Aug 21, 2024 3:08am
Quoting HaLBot
{quote} Hehehehehehe
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #835,790
  • Aug 21, 2024 3:12am Aug 21, 2024 3:12am
Quoting Pat Chiko
{quote} {image}

Hahaha, I think you make more in one trading session than I do in a year
Don't Leave Money on the Table
  • #835,791
  • Aug 21, 2024 3:20am Aug 21, 2024 3:20am
...top of a prev 1hr sw hi zone = pot rbs, and the bottom of the dly part of the prev 1hr/4hr/dly/minor wkly sw hi zone = pot rbs that stated @ 3045 too. If price breaks to the downside of this then on this dly t/f the only 2 prev sw hi zones are the very minor one starting @ 2888 and the more definite and immediate one staring @ 2873 } = pot rbs.

After a strong run, (in this case up,) there will always be buy the dip ( conversely - sell the rally) players - in this case of up - for the bears to overcome.

dly below
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Trader with an Edge.
  • #835,792
  • Aug 21, 2024 3:26am Aug 21, 2024 3:26am
Nice longs booked earlier now looking to buy eu Lower level again!
Master your mind. Master Trading.
  • #835,793
  • Aug 21, 2024 3:53am Aug 21, 2024 3:53am
...slim pickings so far today, even on the lower t/f's. Presently it's RBS -vs- SBR on 1hr.

1hr below
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Trader with an Edge.
  • #835,794
  • Aug 21, 2024 4:27am Aug 21, 2024 4:27am
Shorting eu here now stop above the high
Master your mind. Master Trading.
  • #835,795
  • Edited 4:43am Aug 21, 2024 4:31am | Edited 4:43am
Quoting Headland
...slim pickings so far today, even on the lower t/f's. Presently it's RBS -vs- SBR on 1hr. 1hr below {image}
rbs wins that particular battle. 115% of 6mth amr traveled so far this mth, and 84% of 13wk awr traveled so far this week.

For short positions there will be some stops above Asian/current dly hi, but likely more above y/day's hi. 1st downside b/o of Asian lo proves false.

1hr below
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Trader with an Edge.
  • #835,796
  • Aug 21, 2024 4:48am Aug 21, 2024 4:48am
...price is in the mthly part of that prev dly/wkly/mthly sw hi zone = pot res that extends up to 3142 as was the prev current yrly hi of 3045, The wkly part begins circa 3098, the dly part circa 3120. Is that the bulls aim/target?

mthly below
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Trader with an Edge.
  • #835,797
  • Aug 21, 2024 5:23am Aug 21, 2024 5:23am
Quoting ScalaFX
{quote} be carefull bro, Im waiting for some correction for about 100 pip GU too
How are you Scala? Still holding shorts?
  • #835,798
  • Aug 21, 2024 5:24am Aug 21, 2024 5:24am
Quoting Headland
...price is in the mthly part of that prev dly/wkly/mthly sw hi zone = pot res that extends up to 3142 as was the prev current yrly hi of 3045, The wkly part begins circa 3098, the dly part circa 3120. Is that the bulls aim/target? mthly below {image}
131 does seems to be the area of interest however it seems it’s waiting for FOMC minutes.
Insane in the Brain..
  • #835,799
  • Aug 21, 2024 5:26am Aug 21, 2024 5:26am
Quoting genadi
{quote} How are you Scala? Still holding shorts?
Yes, entered 1125, stop above high, I think will reload if broken
People don't plan to lose. They lose because they don't plan.
  • #835,800
  • Aug 21, 2024 5:31am Aug 21, 2024 5:31am
Quoting ScalaFX
{quote} Yes, entered 1125, stop above high, I think will reload if broken
I thought you were holding GU sells.
Yet is was 400 pips climb in last two weeks. I wonder if price will go up to next high without retracement.
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