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Cable Update (GBPUSD)

  • #854,501
  • Feb 19, 2025 4:16am Feb 19, 2025 4:16am
Quoting Headland
{quote} Hi. And the irony is that Rachael from Accounts called it a 'budget for growth.' They'd had 14yrs to come up with a plan and that was it!
It's what happens when a bunch of people who have never run a business in their lives, and think economic growth comes from government spending, get elected.
  • #854,502
  • Feb 19, 2025 4:22am Feb 19, 2025 4:22am
Oh it fell, it fell, what fell, pound to dollar!
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  • #854,503
  • Feb 19, 2025 4:24am Feb 19, 2025 4:24am
looking for 100 pips short, expecting it too fall all day today
  • #854,504
  • Feb 19, 2025 4:29am Feb 19, 2025 4:29am
Quoting Headland
G/M, rangy week so far with a slight upside bias as attempts on the pot rbs (shown on dly chart below as the prev sw hi zones) meet buy the dip demand. Y/day made a 1st failed upside b/o of last wk's hi, and today a 1st failed upside b/o of y/day's hi. Asian hi and lo are presently the current dly hi and lo. dly below {image}
Lets keep it rangy...
  • #854,505
  • Feb 19, 2025 4:37am Feb 19, 2025 4:37am
Quoting sakimer
Oh it fell, it fell, what fell, pound to dollar! {image}
Targeting to take out that pseudo equal bottom at 2575. Hopefully it sinks on.
  • #854,506
  • Edited 5:07am Feb 19, 2025 4:43am | Edited 5:07am
Quoting MrFanciful
{quote} The UK is now in a stagflationary environment. Inflation is rising rapidly (far greater than the 3%) but because of the new Labour governments policies, economic activity has fallen through the floor.
I agree with you about labour 100%, but this 3% reading comes from a year ago; a large negative reading fell out and replaced with a small negative number today. Looking forward is where US tariffs and Labour policy could come in.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #854,507
  • Feb 19, 2025 4:43am Feb 19, 2025 4:43am
Quoting Waveskierrob
{quote} Lets keep it rangy...
Hi. Absolutely, I'm all for that, and I can understand why you are re your arbing edge.
Trader with an Edge.
  • #854,508
  • Feb 19, 2025 4:51am Feb 19, 2025 4:51am
Quoting Pat Chiko
{quote} CABLE One under water still. Hope will get some air soon.{image}
CABLE

Oh Lord, I am grateful for Your mercy on my trades that were underwater.
Now that they have recovered, I promise not to repeat the same FOMO mistakes again.
Amen

Now, I need to clean up my book to minimize any potential risks with these trades.
Grant me wisdom and discipline to manage them wisely.
Amen.

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #854,509
  • Feb 19, 2025 4:53am Feb 19, 2025 4:53am
The kind of gradual creep is what screws me. Constantly looking like it's bottoming
  • #854,510
  • Feb 19, 2025 4:54am Feb 19, 2025 4:54am
Are we expecting the gao to fill or could it be a full drop?
  • #854,511
  • Feb 19, 2025 4:57am Feb 19, 2025 4:57am
Quoting W0lfram
1.2525 1.248
typed both number wrong lol
1.2625 - entry
1.258 - min. expectation ~y'day lows
Air force
  • #854,512
  • Feb 19, 2025 4:58am Feb 19, 2025 4:58am
Quoting Yngwie
sold 1.2619
Boring. closed 34p
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #854,513
  • Edited 6:38am Feb 19, 2025 4:58am | Edited 6:38am
Quoting MrFanciful
The kind of gradual creep is what screws me. Constantly looking like it's bottoming
It's a difficult scenario that you describe and that to some extent we have seen today so far, I agree, but there were some clues to the downside being more probable as I discussed in posts above. Also, It's where control of your emotions come in - ie discipline and patience - you set a stop and a target so let the trade run to one or the other. If you cut your winners before take profit target but let losers run to stop - it's a recipe for losses overall unless you have a very high win rate.

You need to have rules for each part of a trade and stick to them, ie;

a. Risk
b. Entry
c. Trade management
d. Exit

EDIT: corrected typo.
Trader with an Edge.
  • #854,514
  • Feb 19, 2025 4:59am Feb 19, 2025 4:59am
Quoting ntsprttyflck
Are we expecting the gao to fill or could it be a full drop?


I read this as a move governed by the dollar. Demand for the pound isn't going up, it's demand for the dollar that is falling. DXY looks like it could be at resistance but it might want to go deeper to about 107.4-107.5 perhaps. But then, don't take trading advice from me.

On the flip side, everyone here could be reading it all wrong and this whole time, it's just been a pull back on the DXY and it's going up to 115. Who knows? Brent Johnson might be correct with his Dollar Milkshake Theory.
  • #854,515
  • Feb 19, 2025 5:15am Feb 19, 2025 5:15am
...so, prev 1hr/4hr sw lo zone = pot supp that extends down to y/day's 2582 lo challenged @ current dly lo. There is lots of potential supp/rbs on 1hr to dly t/f down to circa 2507 initially. 1hr/2hr range persists for now. 55% of 30day adr traveled so far today.

1hr, then dly below
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Trader with an Edge.
  • #854,516
  • Feb 19, 2025 5:29am Feb 19, 2025 5:29am
Trade is still active guys I want to see a push to the upside before the FOMC news. I would like us to breakeven before the NEWS!
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My telegram: https://t.me/avidforex
  • #854,517
  • Feb 19, 2025 5:30am Feb 19, 2025 5:30am
Quoting MrFanciful
{quote} I read this as a move governed by the dollar. Demand for the pound isn't going up, it's demand for the dollar that is falling. DXY looks like it could be at resistance but it might want to go deeper to about 107.4-107.5 perhaps. But then, don't take trading advice from me. On the flip side, everyone here could be reading it all wrong and this whole time, it's just been a pull back on the DXY and it's going up to 115. Who knows? Brent Johnson might be correct with his Dollar Milkshake Theory.
Interesting. I've learnt over the years that other than data/news releases intraday, I disregard all fundie commentary/opinion as it can interfere with technical decision making particularly when it runs contrary to it, as my edge is purely technical. Even on the fundie data/news releases I am looking for technical entries after the releases.
Trader with an Edge.
  • #854,518
  • Feb 19, 2025 5:39am Feb 19, 2025 5:39am
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Hourly................ Now what...? Down or up again....

Short with SL at BE.

  • #854,519
  • Feb 19, 2025 5:40am Feb 19, 2025 5:40am
Quoting Pat Chiko
{quote} GOLD SHORT Scalp. Try only * maybe got luck{image}
GOLD

I hope/wish the break out is just a "Fake Out"
If not , im cooked with no luck.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #854,520
  • Feb 19, 2025 5:44am Feb 19, 2025 5:44am
Markets have basically tested yesterday's lows of 1.2582 lets see what the closing of the next H4 candle holds

if it closes below we might be going lower or we'd possibly see a retest of the current midrange before going lower
Discipline is key
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