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-   -   Cable Update (GBPUSD) (https://www.forexfactory.com/showthread.php?t=10378)

DwainUK Mar 14, 2017 12:15pm | Post# 450921

Well said @MarianneOslo but why would you depend on the RSI so much?

lucvoia Mar 14, 2017 12:29pm | Post# 450922

@MarianneOslo

Great Britan is the worlds 6 biggest economy. ... will go down ( till 2020, GDP will go 10% down)

UK is important for EU ... UK you will trade with India and Pakistan.

Toranaga Mar 14, 2017 12:55pm | Post# 450923

IMO, since the Brexit, trading Cable became more and more unpredictable.

You cant relay on anything. Not at 'Dojis', not at 'bearish or bullish flag', nothing.
My medicine is, dont believing that it cant go more down than the "historical"
down levels, no to Panic, and especially much more wider SLs than usual.

And im fine with that.


ps. And of course, over read the weak analyses and wishful thinking
here, that are posted more than twice a day.

NO ONE here has a clue whats the Cables direction. We only follow
and react. As sooner you accept that, so sooner you start to make profits.

(With the right system.)

Happy trading.

T.


ps. If you think im talking sh**. Have a Look at yesterday and today.

What a screw, if you wasn't prepared for that or had a to tight SL.

Marianne Mar 14, 2017 12:57pm | Post# 450924

Well said @MarianneOslo but why would you depend on the RSI so much?

Look at the Charts and see the turing points. 15 january abouth RSI 30 USD/GBP 19,76 1 Feb RSI 70 USD/GPB 1.2705. 26 february RSI 70 1.2575. 14.03 RSI 20 121.09.

I agree very much with Torangas post. This pair is unpredictable. It is better with the 10 pips on the euro/USD. There are also strange movements when we see change in positions. I think we saw a turning point today in this pair. With this I mean short term. News can trigger more downside but i should retrace to above 1.23. It is just the same situation now as when the currency was 1.27

AlanG Mar 14, 2017 3:26pm | Post# 450925

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MXT Mar 14, 2017 3:54pm | Post# 450926

IMO, since the Brexit, trading Cable became more and more unpredictable. You cant relay on anything. Not at 'Dojis', not at 'bearish or bullish flag', nothing. My medicine is, dont believing that it cant go more down than the "historical" down levels, no to Panic, and especially much more wider SLs than usual. And im fine with that. ps. And of course, over read the weak analyses and wishful thinking here, that are posted more than twice a day. NO ONE here has a clue whats the Cables direction. We only follow and react. As sooner you accept that,...
hey Toranaga , well said , agree with that

only thing i would add is that to me Cable is still in downtrend and as long as there's no reversal i'd rather trade the short side

cheers M

diana91 Mar 14, 2017 5:56pm | Post# 450927

Didn't go as I would have imagined, but still selling pressure was somewhat mitigated on daily candle.

i would wait for Article 50 to be triggered to return to this pair...

Nala66 Mar 14, 2017 6:27pm | Post# 450928

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csc2009 Mar 14, 2017 8:28pm | Post# 450929

Pound hit bottom around 1.210 level, lowest since 17th January. So far downside has been capped at 1.210 level, but risk remains on the downside as long as the pair stay below 1.23 level.

Jevan Mar 14, 2017 8:53pm | Post# 450930

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I am waiting for Short position at resistance,

Happy trade guys
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bithedz Mar 14, 2017 9:20pm | Post# 450931

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Story will always remain

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Jevan Mar 14, 2017 9:37pm | Post# 450932

IMO, since the Brexit, trading Cable became more and more unpredictable. You cant relay on anything. Not at 'Dojis', not at 'bearish or bullish flag', nothing. My medicine is, dont believing that it cant go more down than the "historical" down levels, no to Panic, and especially much more wider SLs than usual. And im fine with that. ps. And of course, over read the weak analyses and wishful thinking here, that are posted more than twice a day. NO ONE here has a clue whats the Cables direction. We only follow and react. As sooner you accept that,...
I believe, cable is the most discipline in support and resistance pair than others.

Taurean Mar 14, 2017 11:50pm | Post# 450933

Story will always remain {image}
whats your take on the upcoming FOMC news release? Loud talk about the possibility of a 25 basis point rate hike. Are you comfortable being short the USD?

aliqazi Mar 15, 2017 12:17am | Post# 450934

I think clear break below 1.2100

Marianne Mar 15, 2017 2:08am | Post# 450935

Some are waiting for the perfect entry in this and risk to miss 100 pips. It went trough several support areas as it yday went through several resistant areas and lots missed that too. News last night that it Brexit went through the parliment may trigger the last stops and might also be change of positions. The RSI is now 20. it is not the time to sell this as for only 14 days ago the RSI was 70 and 1.2575 before it turned and was expected. The news yday from Sctotland is not new. The acceptance in the parliment was expected. Scotland will not vote...

In Corriere della Sera, 14 mars former sentralbankmanager Mervyon Kingin UK sais the same thing in a intervju that it is EU that will be dependent on UK and that EU should be worried. He also said that he belived the EU will fall apart. He was very sure that EU want to have a good deal with the UK.
They import more than they export and will reach a good deal In addition to that they have 20% better competiviness than before for their eksports.
In Norway we have a 15% lover currency than in 2007. This makes us comepetative for export and we are still not at the inflation target of 2% 10 years later.

http://www.telegraph.co.uk/news/2017...-record-level/

Sedate Mar 15, 2017 2:17am | Post# 450936

Does anybody have any idea what just happened?!

Akaton Mar 15, 2017 2:19am | Post# 450937

Anyone got insight as to the cause of the 80 pip spike that just happened? Insiders with good news on brexit preparations? Or just positioning for the events coming today?

Wacky Canuck Mar 15, 2017 2:19am | Post# 450938

Does anybody have any idea what just happened?!
Didn't see any new tweets from Trump. Haha. I'm curious too. What the heck was that?!

craftsman44 Mar 15, 2017 2:22am | Post# 450939

{quote} Didn't see any new tweets from Trump. Haha. I'm curious too. What the heck was that?!
ref. #Post 450,869
https://www.forexfactory.com/showthr...71#post9659471
My guess is that hefty short position held by leveraged fund is highly sensitive to upcoming event and risk aversion buy back.


craftsman

Marianne Mar 15, 2017 2:23am | Post# 450940

Yesterday we were witness to change of positions fra short to long and as I said we had a RSI of 20. People will try to short this and lose Money because it has changed from short to long


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