Cable Update (GBPUSD)

Quoting giveachance

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lets see who comes to rescue this today. I am 100% sure we may drop another 100 pips in this week. there seems to be some issue with UK which market knows

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Quoting giveachance

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{quote} this is precisely what i said yesterday. as long as 1.2240 stays I think we have bottomed for now all the bottom pickers of yesterday are flushed today and now they will panic sell. my suggestion dont open sell now. it wont drop in a straight line. it never has.

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Quoting TooSlow

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{quote} What is the reason for blowing the accounts? What is your money management strategy? What is your entry method? Are you method hopping or using the latest shiny indicator? Are you focused on execution or profit? {image}

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import numpy as np
import pandas as pd
import mplfinance as mpf
from scipy.stats import t, gamma
 
# Parameters for distributions
# Adjust these to produce more realistic charts
t_df = 6      # degrees of freedom for Student's t
t_loc = 0     # location parameter for t (center)
t_scale = 0.5 # scale parameter for t (volatility factor for candle body)
 
gamma_shape = 2.0    # shape parameter (a)
gamma_scale = 0.2    # scale parameter (ß)
gamma_shift = 0.0     # location parameter (p) - often zero or small
 
# Simulation settings
n_bars = 300
initial_price = 100.0
 
dates = pd.date_range('2022-01-01', periods=n_bars, freq='D')
 
opens = []
highs = []
lows = []
closes = []
 
current_price = initial_price
for i in range(n_bars):
    # Candle body (Close - Open) drawn from a t-distribution
    body_diff = t.rvs(df=t_df, loc=t_loc, scale=t_scale)
    o = current_price
    c = o + body_diff
 
    # Let's define the "body" high and low (which is just max/min of o and c)
    body_high = max(o, c)
    body_low = min(o, c)
 
    # Wicks: draw a value from gamma for the wick sizes
    # For simplicity, assume the wick extends both up and down by a random amount
    # But you can separate them into upper_wick and lower_wick from separate draws if you prefer.
    wick_extension = gamma.rvs(a=gamma_shape, scale=gamma_scale, loc=gamma_shift)
 
    # High is body_high plus some extension
    h = body_high + wick_extension
    # Low is body_low minus some extension
    l = body_low - wick_extension
 
    opens.append(o)
    highs.append(h)
    lows.append(l)
    closes.append(c)
 
    # Next open starts at current close
    current_price = c
 
# Create a DataFrame in the format mplfinance expects
df = pd.DataFrame({
    'Open': opens,
    'High': highs,
    'Low': lows,
    'Close': closes
}, index=dates)
 
# Plot using mplfinance
mpf.plot(df, type='candle', style='yahoo', title='Simulated Candlestick Chart',
         ylabel='Price', volume=False,
         savefig=dict(fname='my_candlestick_chart_2.png', dpi=300, bbox_inches='tight'))

Quoting Georginson

Disliked

{quote} Selling at 1.22 means selling at a critical low. This week so far has recorded 338 pips range and this is one of the biggest weekly range and also means around 90% of selling is already attained for the week. The other possible weekly range is 500+ pips which has less than 10% chance. 1.2712 is the constant price value gbpusd should attain this year 2025. More gbpusd stat available on X @fxninja9744.

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Quoting Eren10

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{quote} There is also Trump effect. He wants take over Greenland, Canada and probably more to come soon

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Quoting thevisitor

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{quote} mark it, short 1.2370 1.2270 tp

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Quoting suhas316

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First target achieved Now let's see what happens with second {image}

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Quoting Abeylyn

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{quote} Nice 1...

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Quoting suhas316

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{quote} I posted on 31st December that GBP USD will reach 1.22996

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Quoting Georginson

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{quote} Trump's time means volatility time... See 2017 as an example.

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Quoting Mitiblotch

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{quote} I missed that price got to 2237 because I was at work. But I closed now at 2290. We tried to kindly warn the anti-Trump buyers. I will now look to buy now that they have been flushed.

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