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Cable Update (GBP/USD) without Idiots 25 replies

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Cable Update - Continued 105 replies

Why is GBPUSD called cable? 76 replies

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Cable Update (GBPUSD)

GBPUSD price action on the daily time frame is bearish. After an initial bullish correction on Monday, price action printed bearish candlesticks on Wednesday through Friday. The bearish print of Friday broke below the 1. 25260 horizontal support area before snapping back to close at the level. Technically, bulls are resisting further bearish drive. Nevertheless, we cannot rule out further southward drive after a northward correction or sideways of price action. The dominant technical structure is bearish.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
Because retail forex is based on obligations rather than asset transfers –
agreements to do a future exchange of currency, albeit ones which never
actually happen – it means there must be opposing long and short sides to all
open positions. Where a retail aggregator acts in a dealer fashion it is nominally
the counter-party to all customer positions, with the aggregator hedging
positional imbalances externally as per its risk management policies. Where the
aggregator operates in a broker fashion, while legally it may still be official
counter-party, the effective counter-party will be external - a liquidity provider,
another aggregator, the customer of another aggregator matched via an ECN,
or some combination thereof.
Regardless of the aggregator model, for each customer long there must
either be a customer or an institution short on the other side somewhere in the
market, and vice versa. That means every change in exchange rates is at once
financially benefitting one party and harming another by the same amount
How to succeed in zero sum game?
Some charts. A week to be cautious. Short trading hours for the US holiday and DXY doesn't look like it's done yet. Breached resistance as expected. It may hit the 76.4 fib or it could go higher to 88.2 fib.

And take care with EUR and Cable, looks like SNB intervening on EURCHF chart. This makes the TA for other pairs unreliable.

As for BTC, Tulip Mania in progress, unclear if it will breach $100k but it makes zero sense given USD strength. I'd like to see a second wick on the weekly chart before shorting it. Do wonder what impact the CBDC's will have on BTC once they kick into high gear.

Cable just opened gap up but those ma's crossing over above don't look inspiring for north.
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DODGERS World Series Champions '24 !!!! YESSSS
Quoting Abeylyn
GBP/USD UPDATE Daily Candlesticks are bearish, Mid-term and Daily trend are also bearish. Price has touched and bounced off the edge of Daily Support zone located at 1.2470. There is no sign to determine the validity of the Daily Support Zone therefore may. be looking for the best opportunity to Sell. Next Daily Support after 1.2470 is 1.2330. Best probability point to look for Short is located at pullback to at least around 1.2600 zone. However, the Trend, Market Structure and Price Action (MM) are the primary determinant of market sentiment. Will...
Price has touched 1.2600 zone . The last previous support turned resistant which can be seen easily on 30 min. chart. This comes earlier than 5:00 GMT but cannot be ignored.

It's a point where Sellers might probably be waiting to go short. However, it's important to point out that market has fallen into Range and any body Buyers or Sellers may have it at breakout

However, I may go Short very soon depending on the footprint of MM around current price with effective Risk Management

Good day all and have a nice pipping week.
Market Structure is the King.....
Quoting vinta.reddy
{quote} What a Bearish run for GBP. My trade set up for next weeks. DXY: 7 weeks of bullish gains. Trend too steep and strong. RSI at 65-70 levels and still some space to be bullish. Price well above 200 SMA. GBP USD. showed bearish trend since 7 weeks. no key levels of support below 26200. Next support Minor at 24600 and major at 23500. USD CPI sticky, good economic conditions. Low unemployment data. Market is already pricing in 75 Points of interest rate reduction for 2025. GBP economic conditions are weak. GDP stagnant and higher wage growth....
Perfect week. My strategy for this week. An extension of last week strategy.
Its all about Economy in US and UK/Europe. US showing strong PMI, GDP and Jobs market with slight sticky inflation. Very weak economic situation Europe while UK has sticky inflation and slowing economic indicators. Winter Energy prices and possible Russia escalation a real possibility.
Price has run too fast to my trend liking pace. Pound still in bearish trend. However need buyers to get bears going. So need sort of pull back to 26000 and 26600 levels. Long term range is 26600 and 24600 this week. will look for reversals at 23800.
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Shorting eu again
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Master your mind. Master Trading.
Shorting GU
Quoting Abeylyn
{quote} Price has touched 1.2600 zone . The last previous support turned resistant which can be seen easily on 30 min. chart. This comes earlier than 5:00 GMT but cannot be ignored. It's a point where Sellers might probably be waiting to go short. However, it's important to point out that market has fallen into Range and any body Buyers or Sellers may have it at breakout However, I may go Short very soon depending on the footprint of MM around current price with effective Risk Management Good day all and have a nice pipping week.
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Short @ 1.2592 Stoploss 1.2610 1st TP @ 1.2562.

Price will be trailed to BE...
Market Structure is the King.....
  • Post #846,249
  • Quote
  • Edited Nov 25, 2024 2:22am Nov 24, 2024 10:18pm | Edited Nov 25, 2024 2:22am
Checking pa , good gap up and reversal attempt breaking 2596, any no signal yet , so bottoming likely if next try reversal for signal later. Another limit 2731 , immediate sr 25 88/70 /30 , also legitimate targets to get 2731..take care

Delaying , as watching now 2588 breaks for 80 tl bounce before 75 breaks hold for low plays !

Now waiting 82 , little as delays , may planning breakout down early without try test 2731 so early , .if so will test 2530 or bottom play !
So after 2588 , 82 and if breaks out down then 75 1st confirmation to look down targets ! 2 legs down if then 2530 sr may react!

Now breaks and hold 2589 may enough to 75 confirmation with London open ! Waiting
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Not understand?better not follow my analyses!doubt clearer first, risks ++
Quoting Zebi
good to see fighting breaking out for two whole days LOL with even other people joining in trying to settle old scores that only means one thing..... market reversal

Quoting Zebi
{quote} thats how this room is...its an unsupervised kindergarten class LOL people picking on moty and you and the waskibros starting up again this week means we're at a turning point just consider urself lucky you haven't met nubcake yet LOL



LOL

zebis cable update room fighting indicator never fails me LOL
TDS is a beautiful thing Halbot
Quoting Zebi
{quote} i think thats all she wrote for the dollar...a red daily candle today is a sell sig..i expected 105/06 on DXY but it overshot to 107 which gave me losses on my first longs earlier this week all this weeks DXY advance will get retraced next week...we shud see 104 if not by next Friday than mid week after people scratching their heads and gona dump dollars with trumps cabinet picks LOL I'm still holding my GU longs till .3100
Quoting Zebi
{quote} I don't want to upset halbot but Im shorting trump and his cabinet picks of sex offenders LOL so that's why I'm posting GU charts to spare him an epileptic fit LOL the dollar is doooomed and gona fall to 103 within a month


still playing with this scenario and that's why I'm still long GU and was -200 pips Friday but now just -100 LOL
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TDS is a beautiful thing Halbot
im gona add longs at sundays low if im still awake
TDS is a beautiful thing Halbot
Quoting Zebi
{quote} {quote} still playing with this scenario and that's why I'm still long GU and was -200 pips Friday but now just -100 LOL {image}
It's a scenario that would coincide with my Intermediate Swing. I'll join the trail when price touch the point and there is technical validation in support.

However, need to squeeze the current stuffs inside the lowers...

Thanks for sharing your thoughts by supporting it with chart
Market Structure is the King.....
Eu and Cable pump as US 10 year yields dump on news that Trump had chosen Scott Bessent as his pick to head the US Treasury. Pretty disturbing really as he is an ex soros executive.
George Soros is the piece of shit who has funded all the NGOs(communists) flooding America with fighting age single men, 15 to 20 million. Not families!!

https://www.forexlive.com/news/forex...alls-20241125/
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Don't Leave Money on the Table
Quoting HaLBot
This pump on EU and Cable was brought about by a dump on US 10yr bond yields triggering a dollar sell off... {image} {image} {image}
Interesting ! Circular flow in view.

Thanks for the chart.
Market Structure is the King.....
Quoting dempire1
Because retail forex is based on obligations rather than asset transfers – agreements to do a future exchange of currency, albeit ones which never actually happen – it means there must be opposing long and short sides to all open positions. Where a retail aggregator acts in a dealer fashion it is nominally the counter-party to all customer positions, with the aggregator hedging positional imbalances externally as per its risk management policies. Where the aggregator operates in a broker fashion, while legally it may still be official counter-party,...
Inserted Video
How to succeed in zero sum game?
Quoting Moty
{image} {image} {image}
Mf !!!!!!!
Now you remember to go up
After my account was blown with long trades
Now i am on a break until.8th of December
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Quoting HaLBot
Eu and Cable pump as US 10 year yields dump on news that Trump had chosen Scott Bessent as his pick to head the US Treasury. Pretty disturbing really as he is an ex soros executive. George Soros is the piece of shit who has funded all the NGOs(communists) flooding America with fighting age single men, 15 to 20 million. Not families!! https://www.forexlive.com/news/forex...alls-20241125/ {image} {image} {image}
He managed Soros's investments. Soros decides where the returns are spent.
Quoting mallee
{quote} He managed Soros's investments. Soros decides where the returns are spent.

Yes reading up on Bessent he is a good choice from an economic standpoint and can see why Trump chose him or was advised to choose him....
Don't Leave Money on the Table
Quoting dempire1
{quote} https://youtu.be/Yx104rVo_Dw?si=JLkrTm72wbNZ0Yp4

This looks like a multi million dollar set up.....like to have enough cash just for a six screen trading desk, I have three


I am long on EU and Cable because I don't see this closing the gap. It's significant this US 10yr bond yield fall but I could be wrong
Don't Leave Money on the Table
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