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Cable Update (GBPUSD)

  • #838,581
  • Sep 18, 2024 10:59am Sep 18, 2024 10:59am
Quoting pipfarm
{quote} Short side maybe 3100-3085 then maybe a big push up but letz see what sets up, at the moment i can not see which timeframe to try for another long later, i would like to see the short side complete before making a decision, that is if it does
Gut feeling is that the lows of yesterday will be springboard area.. however we didn’t see a retest of 13267 which would have been where I go short from
before FoMC
Insane in the Brain..
  • #838,582
  • Sep 18, 2024 11:17am Sep 18, 2024 11:17am
Quoting BeeTogether
{quote} Gut feeling is that the lows of yesterday will be springboard area.. however we didn’t see a retest of 13267 which would have been where I go short from before FoMC
Which ever is touched first will be the catalyst to the opposite move. They intentionally create these untested areas. Weekly pivot (3096) or at least near might happen.

I am currently playing a risky game with price. I hope nobody tries this. Current game:

10 lots short at 3199. TP 3100. (Can jump out without price touching TP)
5 lots long at 3216. No stops. No TP.

The decision to play this game came from my broker's stop loss being taken out at 3245 so it probably means we'll go for a low sweep before another goo rise. All speculation in my head.

I'm on my way to KFC to have my first meal of the day. I'll watch the spikes, heaves, and sighs from the outdoors. If it goes bad, I'll come back home and go to bed quietly. If it goes good I'll come back home and dance unto the Lord.
  • #838,583
  • Sep 18, 2024 11:38am Sep 18, 2024 11:38am
Quoting Mitiblotch
{quote} Which ever is touched first will be the catalyst to the opposite move. They intentionally create these untested areas. Weekly pivot (3096) or at least near might happen. I am currently playing a risky game with price. I hope nobody tries this. Current game: 10 lots short at 3199. TP 3100. (Can jump out without price touching TP) 5 lots long at 3216. No stops. No TP. The decision to play this game came from my broker's stop loss being taken out at 3245 so it probably means we'll go for a low sweep before another goo rise. All speculation...
I'm off to the Golden Lion in Port Isaac for a pint/s and a steak and haven't clue which way the market is going, MM is the key but I may be wrong, folks may know where the market will go but I've seen no evidence of this yet...
  • #838,584
  • Sep 18, 2024 12:11pm Sep 18, 2024 12:11pm
Hello again. Just back for the fireworks. What else can be said about this hotly anticipated Fomc release and later press conf that hasn't already been said,? probably nothing, so I'll wait to see what happens and trade what I see (or not.)

New current mthly hi today so far @ 3254, price into the dly part (was already in wkly part) of the prev 1hr/4hr/dly/minor wkly sw hi zone = pot res that extends up to 3266-current yrly hi. Downside p/back from there to current p/back lo of 3195. 136% 30day adr traveled already today! 81% 13wk awr (1/4 yr) traveled so far this week.

It will probably all mean nothing when the Fomc rate is released!

1hr below
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Trader with an Edge.
  • #838,585
  • Sep 18, 2024 12:20pm Sep 18, 2024 12:20pm
How many shoulders mf ?
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yes yes yes
  • #838,586
  • Sep 18, 2024 12:23pm Sep 18, 2024 12:23pm
Quoting Moty
{quote} Better stay out ,could go up here Eu at support {image}
Mf !!!!
I got out and it hit the tp , 23 pips
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yes yes yes
  • #838,587
  • Edited 12:36pm Sep 18, 2024 12:25pm | Edited 12:36pm
Quoting Mitiblotch
{quote} Which ever is touched first will be the catalyst to the opposite move. They intentionally create these untested areas. Weekly pivot (3096) or at least near might happen. I am currently playing a risky game with price. I hope nobody tries this. Current game: 10 lots short at 3199. TP 3100. (Can jump out without price touching TP) 5 lots long at 3216. No stops. No TP. The decision to play this game came from my broker's stop loss being taken out at 3245 so it probably means we'll go for a low sweep before another goo rise. All speculation...
Maybe only down 3157 if we consider the last H1 move up as the first swing of a new wave, that area or there about has acted as support then resistance and now support if you look at pa up to the 2nd of September
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I am seeing a possible correction on M15 which is part of of H1 so would look at M5 to look for A(abc B) then C to complete,,, the A has just complete and now it is making an abc for B
Follow The Markets Structure - Patience and Discipline
  • #838,588
  • Sep 18, 2024 12:25pm Sep 18, 2024 12:25pm
Fed meeting in 35 minutes ! Surprise 50 or 25 ? Either way are getting insane volatility and as I’m in eurusd longs I’m setting stop loss break even in case
hope the stop loss orders hit though others bye account
Master your mind. Master Trading.
  • #838,589
  • Sep 18, 2024 12:27pm Sep 18, 2024 12:27pm
...oh go on then - just idle speculation to fill the time;

a. No rate cut (chances = probably 0%,) - probably a big downside reaction re gbpusd, ie $ strength?
b. -0.25% cut (chances = probably 40%,) - difficult to say, maybe $ up, so gbpusd down, U.s equities down?
c. -0.5% cut (chances = probably 55%,) - probably a big $ down reaction, so gbpusd up, and U.s equities up?
d. > -0.5% cut (chances = probably 5%,) - probably a huge $ down reaction, so gbpusd up, and U.s equities up?
e. No rate cut, in fact a rate rise...right out of left field (chances = probably 0%,) Don't know - probably big $ up, U.s equities down reaction?
f. Nothing, Jay Powell just comes on the wires, blows a raspberry and sings, 'oooh aah fuck the lot of you' to the tune of Gina Gee's classic 1997 Eurovision entry, (chances = 0%,) reaction = I don't care, but I'd give 10% of my account just to see it!
Trader with an Edge.
  • #838,590
  • Sep 18, 2024 12:28pm Sep 18, 2024 12:28pm
Quoting Waveskierrob
{quote} I'm off to the Golden Lion in Port Isaac for a pint/s and a steak and haven't clue which way the market is going, MM is the key but I may be wrong, folks may know where the market will go but I've seen no evidence of this yet...
Toss a coin for us mortals Waveski, im raising my jack&coke to you, cheers mate!
You have to have an IQ higher than 90 to interact with this user.
  • #838,591
  • Sep 18, 2024 12:36pm Sep 18, 2024 12:36pm
Quoting Nordling
{quote} Toss a coin for us mortals Waveski, im raising my jack&coke to you, cheers mate!
Will do it's.....................
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.......tails so SELL SELL SELL but only if you have a grip of your MM...
  • #838,592
  • Sep 18, 2024 12:38pm Sep 18, 2024 12:38pm
How many accounts will blow up today?
  • #838,593
  • Sep 18, 2024 12:40pm Sep 18, 2024 12:40pm
Quoting Pranjal
How many accounts will blow up today?
Hi, yeh - if only it wasn't compulsory to trade potentially the highest impact scheduled event risk of the year so far then a lot could be saved!
Trader with an Edge.
  • #838,594
  • Sep 18, 2024 12:40pm Sep 18, 2024 12:40pm
Quoting Pranjal
How many accounts will blow up today?
better protect and play it safe
  • #838,595
  • Sep 18, 2024 12:45pm Sep 18, 2024 12:45pm
Quoting Pranjal
How many accounts will blow up today?
Not traders account, but gamblers yes, lots of them.
More time in the market, does not mean you trade better!
  • #838,596
  • Sep 18, 2024 12:49pm Sep 18, 2024 12:49pm
Quoting Headland
{quote} Hi, yeh - if only it wasn't compulsory to trade potentially the highest impact scheduled event risk of the year so far then a lot could be saved!
  • #838,597
  • Sep 18, 2024 12:51pm Sep 18, 2024 12:51pm
Less than 10 mins left good luck all!

lots of positions being taken it seems..
Insane in the Brain..
  • #838,598
  • Sep 18, 2024 12:53pm Sep 18, 2024 12:53pm
It's 12:53am here and I am sleepy. But don't want to miss this kind of day.
With courage, patience, and discipline, success is a matter of time.
  • #838,599
  • Sep 18, 2024 12:53pm Sep 18, 2024 12:53pm
8 mins is still lot of time you can make a trip to bathroom and return.
There is no need to hold onto that pee
More time in the market, does not mean you trade better!
  • #838,600
  • Sep 18, 2024 12:55pm Sep 18, 2024 12:55pm
Quoting BeeTogether
Less than 10 mins left good luck all! lots of positions being taken it seems..
Patski mostly SHORT but a little LONG...
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