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Cable Update (GBPUSD)

  • #838,501
  • Sep 18, 2024 3:26am Sep 18, 2024 3:26am
Quoting Headland
{quote} Hi, you would think so but with the majority of the market apparently betting on a bigger than -0.25% cut, is only that it could disappoint? As always, trade what we see not what we think, if we get involved on that data. {quote} Hi. Glad that is working for you but it's not mine! My favoured news/data release tactics/plays (spreads and market reaction allowing,) that I've discussed here many times, are: a. Get involved in any strong momentum on close of 1st 1min candle. b. Sell/buy the 1st hi/lo p/back respectively c. Buy/sell the 1st p/back...
also makes sense
in wondering about yourself, you forgot what you came here to be part of
  • #838,502
  • Sep 18, 2024 3:27am Sep 18, 2024 3:27am
Quoting Headland
{quote} Hi, you would think so but with the majority of the market apparently betting on a bigger than -0.25% cut, is only that it could disappoint? As always, trade what we see not what we think, if we get involved on that data. {quote} Hi. Glad that is working for you but it's not mine! My favoured news/data release tactics/plays (spreads and market reaction allowing,) that I've discussed here many times, are: a. Get involved in any strong momentum on close of 1st 1min candle. b. Sell/buy the 1st hi/lo p/back respectively c. Buy/sell the 1st p/back...

Yes I must have misunderstood what you said last time
Don't Leave Money on the Table
  • #838,503
  • Sep 18, 2024 3:33am Sep 18, 2024 3:33am
Quoting knkie
{quote} that makes sense thanx
one other thing though, the press conference and the voting detail will possible be more important than the number itself as it may set the tone
for the rest of the cuts.....if he is still a bit hawkish and restraind in tone then that would be goood for USD
Its all just one persons opinion
  • #838,504
  • Sep 18, 2024 3:36am Sep 18, 2024 3:36am
Quoting axecap
{quote} one other thing though, the press conference and the voting detail will possible be more important than the number itself as it may set the tone for the rest of the cuts.....if he is still a bit hawkish and restraind in tone then that would be goood for USD
definitely! We’ve seen many swings on the tone of the conference alone
Insane in the Brain..
  • #838,505
  • Edited 3:59am Sep 18, 2024 3:37am | Edited 3:59am
I closed buys @ 1.3200 but going a little higher, hope we get some sort of pullback to buy in again
It's panning out like expected with lots of buying spurred on by the inflation figure suggesting no rate cut by the BOE
300 so far today and would like another 150 kangeroos then can send some back to bank account.
Hit 1.3212 now and we might be getting that pullback.....no promises LOL


We have 9 more trading days in September including today, make the most of it fellas
Don't Leave Money on the Table
  • #838,506
  • Sep 18, 2024 4:09am Sep 18, 2024 4:09am
Quoting Georginson
{quote} Should is a conditional word... Not certain. So no need over emphasizing on this. My bias is now bearish already close to the year top . I will start building short from 1.3230 all the way to 1.3330 for a target of 1.3000.
its over last year high
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #838,507
  • Sep 18, 2024 4:13am Sep 18, 2024 4:13am
Quoting Bones
{quote} its over last year high
yap,
LYH is 1.31424
  • #838,508
  • Sep 18, 2024 4:13am Sep 18, 2024 4:13am
also bears do not have the monthly even though its overbought
this shaven open is bullish unless proven otherwise
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #838,509
  • Sep 18, 2024 4:16am Sep 18, 2024 4:16am
Quoting SabkaBaap
Cant get a better discounted price before fomc in long-1.3157 tp-1.3320 sl-1.3127
told ya, we are on a smooth ride to 1.3320, yesterday was the best opportunity to go long at 1.3150 levels

added one more long at 1.3205
  • #838,510
  • Sep 18, 2024 4:24am Sep 18, 2024 4:24am
Quoting trumps
{quote} Got spooked and closed out shorts. 1.3180 looks like a good spot to look for reasons to short. 1.31 is a target Shake 'n Bake... https://youtu.be/7o5vqBk4WMM {image} {image}
Actually, looking at the monthly, lets make that 3280 before looking for PA reasons to short for a REAL new high, Shake 'n Bake...
Attached Image(s) (click to enlarge)
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Compulsions can be hard to resist
  • #838,511
  • Sep 18, 2024 4:25am Sep 18, 2024 4:25am
So we’ve already covered the drop from yesterday this bullish run is not looking if it will run out of steam. The detail of the FOMC conference will be the key. Any dovish tone and we can easily see a higher high especially as BoE are not looking for a rate cut this month.
Insane in the Brain..
  • #838,512
  • Sep 18, 2024 4:34am Sep 18, 2024 4:34am
Quoting BeeTogether
So we’ve already covered the drop from yesterday this bullish run is not looking if it will run out of steam. The detail of the FOMC conference will be the key. Any dovish tone and we can easily see a higher high especially as BoE are not looking for a rate cut this month.
Does rate cut even matter? Lagarde cut rates and EU rallied hard
  • #838,513
  • Sep 18, 2024 4:38am Sep 18, 2024 4:38am
Quoting Mitiblotch
{quote} Does rate cut even matter? Lagarde cut rates and EU rallied hard
I think it matters for USD GBP and to an extent JPY
Insane in the Brain..
  • #838,514
  • Sep 18, 2024 4:44am Sep 18, 2024 4:44am
Quoting BeeTogether
{quote} I think it matters for USD GBP and to an extent JPY
But price will move to the predestined levels regardless. I will provably sit out the Fed. I will only feel sad if price dumps without me being in a trade. My broker's signal (I haven't used or looked at them in a long, long time) says to short GU at 3215 and TP at 3095. They also said to short EU at 1140 and TP at 1060 and 1040. I won't take the trade. Price fell down to 3149 yesterday and that signalled danger. Weekly pivot at 3096 remains unmet.
  • #838,515
  • Sep 18, 2024 4:59am Sep 18, 2024 4:59am
I think its the uncertainty of whether we will get a 25 bp cut or a 50 bp cut by the Fed today.
Plus strong UK inflation data likely to mean the BOE are not going to cut
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #838,516
  • Sep 18, 2024 5:27am Sep 18, 2024 5:27am
bullish daily, even like that
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #838,517
  • Sep 18, 2024 5:32am Sep 18, 2024 5:32am
Quoting Bones
bullish daily, even like that {image}
Maybe some people already know:
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  • #838,518
  • Sep 18, 2024 5:32am Sep 18, 2024 5:32am
one of my friend who works with investment bank in US is saying FED will be in a surprise mode today…75 bps rate cut talks are being discussed… he says lot of big banks hv statred making bearish positions in USDX, he expects gbpusd to be 1.36 levels in 24 hrs from now

lets see…added one more long at 1.3218
  • #838,519
  • Sep 18, 2024 5:38am Sep 18, 2024 5:38am
Frustrating move up this morning on GU. Was obvious it was going for highs of yesterday but I couldn't find an entry. Nothing perfect presented.
Yesterday was just a daily pullback candle but after that second trade lost I stopped for the day.
Lots of news today so will trade lightly.
I think better opps tomorrow after FOMC today but as always let's see....
After FOMC often things are clearer, but not always......
  • #838,520
  • Sep 18, 2024 5:39am Sep 18, 2024 5:39am
13230 first area of resistance today
Insane in the Brain..
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