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Cable Update (GBPUSD)

  • #835,881
  • Aug 21, 2024 1:11pm Aug 21, 2024 1:11pm
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Long..... and approaching target level and time...........

  • #835,882
  • Aug 21, 2024 1:17pm Aug 21, 2024 1:17pm
@ current dly hi price has entered a prev 4hr sw hi zone (from July 2023) = pot res, that extends up to 3126, this before the 4hr part of the prev 4hr/dly/wkly/mthly sw hi zone = pot res (from same time,) ie up to Last yr's hi. Price is already in the mthly, wkly and dly part of that pot res zone to 3142

4hr below
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Trader with an Edge.
  • #835,883
  • Aug 21, 2024 1:22pm Aug 21, 2024 1:22pm
Quoting JameRomeo168
{quote} I still remember, that was around mid 2022 to until September when BOE decided to interevent. At that time I though GU was about to collapse already. Every up move was only the opportunity for seller to short this pair. Just cannot forget.
Hi. I wasn't talking that long ago, I meant from around Summer last year to earlier this year. Yes that was the post Truss/Kwarteng so-called Mini-Budget lo in the 1.03's, before the bounce up to 1.3142. it wasn't the BOE or any other central bank that intervened directly to save the £ - it was the market. The BOE did intervene in the Bond market over a pensions issue though at around the same time.
Trader with an Edge.
  • #835,884
  • Aug 21, 2024 1:31pm Aug 21, 2024 1:31pm
Quoting Headland
{quote} I wasn't talking that long ago, I meant from around Summer last year to earlier this year. Yes that was the post Truss/Kwarteng so-called Mini-Budget lo in the 1.03's, before the bounce up to 1.3142. it wasn't the BOE or any other central bank that intervened directly to save the £ - it was the market. The BOE did intervene in the Bond market over a pensions issue though at around the same time.

Oh you are right, my bad. It was the intervention of Bonds market, sorry. Market at that time was crazy and I lost a lot of money. Everytime I went long, my account always ended up in red and I had no idea why.

Now looks like it happens again but this time with bull markets.
With courage, patience, and discipline, success is a matter of time.
  • #835,885
  • Aug 21, 2024 1:39pm Aug 21, 2024 1:39pm
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Closed my longs at 1.31 10 NOW................ It might go a bit higher , of course...... We ll see.

  • #835,886
  • Aug 21, 2024 1:44pm Aug 21, 2024 1:44pm
Quoting ScalaFX
This would drop soon, its a metter time and $ start some correction
started
People don't plan to lose. They lose because they don't plan.
  • #835,887
  • Aug 21, 2024 1:45pm Aug 21, 2024 1:45pm
Quoting Pat Chiko
{quote} GU I guess this is good time to take another SHORT Scalping Try some luck{image}
GU

No luck with scalp trade, got stopped out.
Re-N3 on FOMC MoM
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #835,888
  • Aug 21, 2024 1:49pm Aug 21, 2024 1:49pm
Quoting ScalaFX
This would drop soon, its a metter time and $ start some correction
Pawns are being pushed and the game is slowly starting. We as the Kings place orders and we wait for the further development.
  • #835,889
  • Aug 21, 2024 1:53pm Aug 21, 2024 1:53pm
Quoting RCtrader
Go my wonderful bears and bring me the pips!
Today, you struggled against the aggressive bulls. I am not mad at you my lovely bears, you did your job well on eurusd. It appears that MM traders got their hands on FOMC paper earlier than we all did.
NOTE: My conclusion is that we are seriously headed upwards.
Risk Management is of utmost importance!
  • #835,890
  • Aug 21, 2024 1:58pm Aug 21, 2024 1:58pm
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yes yes yes
  • #835,891
  • Aug 21, 2024 2:05pm Aug 21, 2024 2:05pm
Let us all say goodbye to 1.31 and wish it all the best! You'll be missed 1.31! Goodbye!
  • #835,892
  • Aug 21, 2024 2:07pm Aug 21, 2024 2:07pm
Quoting Silver-King
Let us all say goodbye to 1.31 and wish it all the best! You'll be missed 1.31! Goodbye!
welcome 1.20
People don't plan to lose. They lose because they don't plan.
  • #835,893
  • Aug 21, 2024 2:10pm Aug 21, 2024 2:10pm
Quoting ScalaFX
{quote} welcome 1.20
Time to sacrifice some pawns!
  • #835,894
  • Aug 21, 2024 2:25pm Aug 21, 2024 2:25pm
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yes yes yes
  • #835,895
  • Aug 21, 2024 2:39pm Aug 21, 2024 2:39pm
Sell GU here at 1.3088
  • #835,896
  • Aug 21, 2024 2:39pm Aug 21, 2024 2:39pm
Quoting JameRomeo168
Tomorrow I still search for long opportunity. Looks like bull don't want to stop very soon.
You better sell to 1.29
  • #835,897
  • Aug 21, 2024 2:44pm Aug 21, 2024 2:44pm
Quoting navk
{quote} ok. But this vertical move is too much to handle. As you see in this thread too many stalwarts failed
failed those who risked too much

  • #835,898
  • Aug 21, 2024 3:04pm Aug 21, 2024 3:04pm
FED'S POWELL: MUUUUUUU, MUUUUUUU
MORE OF FED'S POWELL: MEEEEEEE, MEEEEEEE

CNBC: USD surges amid hawkish speech of JayPeePee

FXStreet: GBP/USD trades lower after bulls failed to break 1.3120 resistance we mentioned two and a half years ago or didn't mention at all (always very useful for traders who do not use the charts or do not trade at all )

CNN: USD continues it's gains due to new fears of a recession because of the weaker than expected job market numbers

ABCDEFG: USD rallies even after a decision from the Fed to cut rates by 25bps due to a higher inflation forecast
  • #835,899
  • Aug 21, 2024 3:17pm Aug 21, 2024 3:17pm
That was really heavy... almost 1.3120 after first struggles at 1.3096. I'm fine and made a nice profit but only due to knowledge. There was no sign of weakness until they hit the sell button. I have some left from 1.3096 and above, let it ride down hopefully to at least 1.3060's.

I don't like that kind of behaviour of the market. It seems like there is only one big player or biggies at least all in sync. That is typically summer time trading with great exagerations. It is easy to trade if you know how and you have to know when it is summer time (well, that's not that hard ). I kind of struggle with that time. May be next year it goes better. Today was fine but could have been better. Too early, too soon I jumped in... in summer time.
  • #835,900
  • Aug 21, 2024 3:23pm Aug 21, 2024 3:23pm
Quoting Pat Chiko
{quote} GU Mixed result. Giving it another go for SHORT (maybe this time got lick) {image}
you are always on the winning side...
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