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Cable Update (GBPUSD)

  • #842,381
  • Oct 18, 2024 1:50am Oct 18, 2024 1:50am
Quoting BeeTogether
A decent up from the days opening helped by decent UK data. Eating humble pie as I had no view that 131 was on the cards but here we are quite close. Not sure if we will get there today but there is time for a reversal and get back below 13030 too (it’s Friday)
Yeah! 1.3030 is an ideal point to clear the dust.

Risk Management is key cause at that point Stoploss is higher but better.
Market Structure is the King.....
  • #842,382
  • Oct 18, 2024 2:04am Oct 18, 2024 2:04am
Quoting Jackoboms
Remember, I still maintain that you should BUY to 1.311 at least. Had more Longs on since 1.297+ with proper risk management
I wish you could reveal your reasons so that we deliberate. It's much more about learning and not chastising or proving to be a better trader. And I may as well be wrong with loads of AI Algo because it's garbage in out.

Just come up let's discuss before the market play the rhythm......
Market Structure is the King.....
  • #842,383
  • Oct 18, 2024 2:04am Oct 18, 2024 2:04am
...pulling back off current dly hi @ a prev 30min sw lo then hi zone, now a separate prev 30min minor sw hi zone = pot res too.

Average ranges graphic, 10/20/40 ema crosses graphic, and 1hr below.
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Trader with an Edge.
  • #842,384
  • Oct 18, 2024 2:07am Oct 18, 2024 2:07am
Quoting Headland
...pulling back off current dly hi @ a prev 30min sw lo then hi zone, now a separate prev 30min minor sw hi zone = pot res too. Average ranges graphic, 10/20/40 ema crosses graphic, and 1hr below {image} {image} {image}
if it’s following similar pattern to Wednesday we saw a drop then it flatlined and went up a bit before a bigger drop we could see a move towards the area you marked as close all trades to even slightly higher at 13090-131?
Insane in the Brain..
  • #842,385
  • Oct 18, 2024 2:10am Oct 18, 2024 2:10am
Just saw that UK CPI dropped to 1.7% the lowest since April 2021. No wonder there’s talk about a BoE rate cut in November. GBP/USD staying below 1.3000 with the strong USD doesn’t look good for the pound interesting times aheadd
  • #842,386
  • Oct 18, 2024 2:21am Oct 18, 2024 2:21am
Quoting BeeTogether
{quote} if it’s following similar pattern to Wednesday we saw a drop then it flatlined and went up a bit before a bigger drop we could see a move towards the area you marked as close all trades to even slightly higher at 13090-131?
Like you said the other day, that Uk cpi/rpi read a few days ago increases chances of a bigger than -0.25% drop next time out for the Boe/Mpc, but this stronger than expected Uk retail sales data might diminish that chance, ie; economy is growing a bit even with these high rates, - let's keep them where they are, or only drop 0.25% and really kill off inflation - type thinking? There is a contrary argument too of course.
Trader with an Edge.
  • #842,387
  • Oct 18, 2024 2:22am Oct 18, 2024 2:22am
What strange PA, would have thought on London Opening Cable would fly up with such good retail sales figures
Don't Leave Money on the Table
  • #842,388
  • Oct 18, 2024 2:29am Oct 18, 2024 2:29am
Strong Resistance Zone
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Contrarian
  • #842,389
  • Oct 18, 2024 2:30am Oct 18, 2024 2:30am
Quoting HaLBot
What strange PA, would have thought on London Opening Cable would fly up with such good retail sales
Hi. It did on the initial data react. Yes, UK equities opened at 0800 a.m. UK time, so there is a greater money flow and cross-asset flow now, but it doesn't necessarily mean it will come into Fx rates—it may largely stay in equities today, who knows?
Trader with an Edge.
  • #842,390
  • Oct 18, 2024 2:32am Oct 18, 2024 2:32am
Quoting Headland
{quote} Hi. It did on the initial data react. Yes, UK equities opened at 0800 a.m. UK time, so there is a greater money flow and cross-asset flow now, but it doesn't necessarily mean it will come into Fx rates—it may largely stay in equities today, who knows?

Good to know
Don't Leave Money on the Table
  • #842,391
  • Oct 18, 2024 2:34am Oct 18, 2024 2:34am
cpi is a fake 0% MoM number, it sets the government costs rise next year at under 2%
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #842,392
  • Oct 18, 2024 2:36am Oct 18, 2024 2:36am
  • #842,393
  • Oct 18, 2024 2:36am Oct 18, 2024 2:36am
Quoting Bones
cpi is a fake 0% MoM number, it sets the government costs next year at under 2%
Fake or not market participants care about it. And when the majority of the participants care about it, it becomes a self-fulfilling prophecy.
You have to have an IQ higher than 90 to interact with this user.
  • #842,394
  • Oct 18, 2024 2:37am Oct 18, 2024 2:37am
Quoting BeeTogether
{quote} so as you know I went longnob Wednesday after the shitty uk data well it was an order that got processed proper dumb ass moment
Great execution.
Good luck bud

next load at 1.303/4 again imo..
destination 1.32
  • #842,395
  • Oct 18, 2024 2:37am Oct 18, 2024 2:37am
Quoting Abeylyn
{quote} I wish you could reveal your reasons so that we deliberate. It's much more about learning and not chastising or proving to be a better trader. And I may as well be wrong with loads of AI Algo because it's garbage in out. Just come up let's discuss before the market play the rhythm......
When someone speaks like this its usually an emotional response because they are already invest in a position that is in that direction and loosing money, hoping it will turn. Best to ignore and focus on your own method. Developing your own way is key to survival
Emotional Control. Process, not outcome.
  • #842,396
  • Edited 3:36am Oct 18, 2024 2:38am | Edited 3:36am
...it's funny Zebi used to call Nubcake the contrary indicator (when the later put in an unwelcome appearance,) but when he or Chiforex ( as the 2 main £ doom mongers) appear, it rallies, lol!
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Trader with an Edge.
  • #842,397
  • Oct 18, 2024 2:43am Oct 18, 2024 2:43am
Quoting Nordling
{quote} Fake or not market participants care about it. And when the majority of the participants care about it, it becomes a self-fulfilling prophecy.
do they believe
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #842,398
  • Oct 18, 2024 2:44am Oct 18, 2024 2:44am
Quoting Konichiwhaat
{quote} When someone speaks like this its usually an emotional response because they are already invest in a position that is in that direction and loosing money, hoping it will turn. Best to ignore and focus on your own method. Developing your own way is key to survival
Hnnnn! but talking about it will assist in preventing such in future.

Anyway, it's a way of life where uniformity doesn't exist.

Everyone with his own ways and methods.
Market Structure is the King.....
  • #842,399
  • Oct 18, 2024 2:45am Oct 18, 2024 2:45am
bond market don't believe in my opinion and next 2 CPI is up , green data keeps printing, then CPI is a lie
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #842,400
  • Oct 18, 2024 2:46am Oct 18, 2024 2:46am
Quoting Headland
...it's funny Zebi used to call Nubcake the contrary indicator (when the later put in an unwelcome appearance,) but when he or Chiforex ( as the 2 main £ doom mongers) appear, it rallies, lol! {image}

Every single trader that's ever come to this chatroom saying they know where the market is heading has had to eat humble pie at some stage
Don't Leave Money on the Table
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