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Cable Update (GBPUSD)

  • #838,021
  • Sep 12, 2024 4:34pm Sep 12, 2024 4:34pm
All I want to see is drop EU and GU for clear all week buyers, I can be wrong
People don't plan to lose. They lose because they don't plan.
  • #838,022
  • Sep 12, 2024 5:02pm Sep 12, 2024 5:02pm
Quoting ScalaFX
All I want to see is drop EU and GU for clear all week buyers, I can be wrong
next week if FOMC is 0.25 cut and also if BoE hint at further cuts we could see a decent drop opening up 129 a lot of ifs though
Insane in the Brain..
  • #838,023
  • Sep 12, 2024 5:02pm Sep 12, 2024 5:02pm
Attached Image (click to enlarge)
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That's the daily chart.

The Weekly candle is almost green.
  • #838,024
  • Sep 12, 2024 5:05pm Sep 12, 2024 5:05pm
Quoting Waveskierrob
Good discussion happening here, my point of view ( under the influence of alcohol) is that the markets are random, right or wrong but if I make money with this belief who cares, only me, make money how you can, we're all different...
Yes, markets are like, totally random 'cause no one knows where prices are headed next. I just wait for a decent entry point and use sl/tp orders. If markets weren’t random, we’d all be filthy rich by now
  • #838,025
  • Sep 12, 2024 5:39pm Sep 12, 2024 5:39pm
Quoting elude
{quote} Yes, markets are like, totally random 'cause no one knows where prices are headed next. I just wait for a decent entry point and use sl/tp orders. If markets weren’t random, we’d all be filthy rich by now
what is the point of trend lines and channels if markets are totally random?
Compulsions can be hard to resist
  • #838,026
  • Sep 12, 2024 5:51pm Sep 12, 2024 5:51pm
Quoting trumps
{quote} what is the point of trend lines and channels if markets are totally random?
No point, it's just ornamental
  • #838,027
  • Sep 12, 2024 7:10pm Sep 12, 2024 7:10pm
Quoting elude
{quote} No point, it's just ornamental
looks nice
Compulsions can be hard to resist
  • #838,028
  • Sep 12, 2024 7:21pm Sep 12, 2024 7:21pm
Eurusd
Master your mind. Master Trading.
  • #838,029
  • Sep 12, 2024 7:42pm Sep 12, 2024 7:42pm
Quoting BeeTogether
{quote} next week if FOMC is 0.25 cut and also if BoE hint at further cuts we could see a decent drop opening up 129 a lot of ifs though
Sounds weird but it is true. The reason behind that is going back to "normal" and that means lower interest rates,- so USD will rally. It also has to do with the trading against carry trades,- governments do that to stop speculators on big carry trades against their own currency. Very nice to see on USD/CHF and USD/JPY.

If interest rates go down, you will see, weird enough, USD will strengthen. It has to do with the short covering against carry trades. Problem on these maneuvers is: You protect your economy but someone has to pay the price: That will be the tax payer (especially BOJ is using that technique).
  • #838,030
  • Sep 12, 2024 7:52pm Sep 12, 2024 7:52pm
Quoting Mitiblotch
{quote} The point of my post is that you don't know everything. You know only what you are allowed to know. The market can be controlled without you knowing it. That's doesn't make the market bad or illegitimate. I don't need to know who controls is because that information is not important to trading. However, suggesting that the market runs on autopilot is close to impossible. Life doesn't agree with such a position.
@Mitiblotch and @TheHusla are both correct. Market is manipulated in a certain degree. I can give you an example: If you want to put quotes in your favour you often use overnight transactions on low volume. Of course the other big boys now that technique and can rip off your shirt on london open but most times they don't do that... reason is they also earn on that ,- if their main position of the last days in in plus due to the market manipulation over night. It's a "gentle man" agreement. Hard to prove and of course it is illegal but that's how market works. That's one example why markets are not random.

Currently we see a mix on GBP/USD of that strategy. My indicators scream currently to go short on GBP/USD, especially now at 2:44 European Time at 1.3141. It is probably the high for the move before a small correction. I will not take it because it can take almost 2 hours before we see the correction. I go to bed.

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  • #838,031
  • Sep 12, 2024 8:04pm Sep 12, 2024 8:04pm
Sold 1.3148
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #838,032
  • Sep 12, 2024 8:13pm Sep 12, 2024 8:13pm
Quoting Yngwie
Sold 1.3148
Yngwie, wats your TP
  • #838,033
  • Sep 12, 2024 8:23pm Sep 12, 2024 8:23pm
Quoting jamessarita
{quote} Yngwie, wats your TP
for safe TP above 1.3100
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #838,034
  • Sep 12, 2024 9:33pm Sep 12, 2024 9:33pm
Strong EUR
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Master your mind. Master Trading.
  • #838,035
  • Sep 12, 2024 9:53pm Sep 12, 2024 9:53pm
Quoting trumps
{quote} I’m short from Asian session, but it could spike to 3150 4hr resistance which hasn’t quite been tested yet.
Better late than never I suppose.
Compulsions can be hard to resist
  • #838,036
  • Sep 12, 2024 9:56pm Sep 12, 2024 9:56pm
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yes yes yes
  • #838,037
  • Sep 12, 2024 10:22pm Sep 12, 2024 10:22pm
for 9 and 13 pips
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yes yes yes
  • #838,038
  • Sep 12, 2024 10:30pm Sep 12, 2024 10:30pm
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yes yes yes
  • #838,039
  • Edited 11:36pm Sep 12, 2024 10:53pm | Edited 11:36pm
Looks no stop before 3174 now! Take care
As likely extension 4 up towards previous high may extend to over 3188 to 3211.
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #838,040
  • Sep 12, 2024 11:14pm Sep 12, 2024 11:14pm
A pull back close to 3100 / 3094 would be helpful to get out of short trades.

Let us see what Lo does
Intraday only.
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