Got this morning long at 2.0107 and took profit at 2.0130. Now I reversed and I'm short at 2.0110 with a SL at 2.0140.
I think there will come a small correction this day. (2.0050)
I think there will come a small correction this day. (2.0050)
Cable Update - Continued 102 replies
Cable (GBPUSD) vs Euro (EURUSD) 31 replies
Cable Update (GBP/USD) without Idiots 23 replies
Why is GBPUSD called cable? 66 replies
cable short for gbpusd? 6 replies
Dislikedhmmm... what i meant is: is there any sense shorting cable now... maybe it is too high to buy... but the trend is up... VERY up... The support is the 2.0050 and 2.0 level... for the one thats asked me the support levels... And the "sleepy-bulls" or "bears" have really no fixed time to show up... They just appear, due to a fundamental reason... or whatever... they dont sleep.. so they appear whenever they like...Ignored
DislikedEurope is not interested to have its currency very strong which is bad for the export (and that in USA favor).Ignored
DislikedWhy every trader attacking the Dollar? did you forget Guys that the dollar is the Currency of the biggest Economy in the World! When USA want her dollar strong then there are all the means to make it strong... The growth in USA for the comming year will be higher than the growth in Europe!
Europe is not interested to have its currency very strong which is bad for the export (and that in USA favor).
Today, the traders are the only one who value the currencies by running behind and waching the interest rate, Yes, interest rate is important but is not every thing...Ignored
Dislikedso whats ur opinion cesarnc?? Time for some retracement or still go north?? Does the bull still have enough army to test another resistance ranks?? With no "important" news until end of week. Will it be fundies vs techies? Since the fundamentals so far support the cable to go bullish.Ignored
DislikedI was just wondering what to do next... I made a mistake here and thought BOE would come out at 8:30 local (11:30 GMT) and overslept
I decided to do this.
Run fibo low 9902 - high 2.0131
23 - 0077
38 - 0044
50 - 0017
68 - 9990
78 - 9951
I'm not trading Cable until a strong rebound off one of those levels. I really want to see 38% as to reafirm the bullish move for the upcoming days.
Decided to do that because of
-lack of news for the rest of the day - allowing market decided where it goes - new stop hunting up or some profit taking
- USD super oversold across the board - this may buffer Cable's upside - unless we're in the middle of a USD breakout, and another wave of dollar selloff comes during NYC
- I have no idea where to place SL now if entering Cable long. That could cost me big drawdowns in case I go on buying dips and cable starts correcting within this fib.
- Retail Sales on Friday is expected below previous, so this one may set the rang Cable will trade until the rate statement.
- Shorting cable is something I'm not going to do. Not now.
Note that from 9211 up to now, there are almost 900 pips of accumulated profit. So when the profit takings come, it may get things ugly here.
I'll keep posting in case I change my mind.
As of now, I don't have a scenario to target my GBP trades. I'm only long UJ so far, risky enough to try to catch cable tooIgnored
Dislikedcesarnc,
you now only have long UJ right?
so your scenario is that jpy is the weakest currency with UJ bouncing soon?Ignored
QuoteDislikedThe British pound, having broken above $2, is set to extend its rally in coming weeks to the strongest since 1981, as central-bank buying of the currency propels it higher, according to Brown Brothers Harriman & Co.
Central banks will purchase pounds sterling as they diversify their swelling foreign-exchange reserves away from the U.S. dollar and as speculation of higher interest rates in the U.K. boosts returns on pound-denominated investments, said Marc Chandler, head of currency strategy at Brown Brothers.
``There are several factors behind sterling's advance that still have some legs,'' New York-based Chandler wrote in a note to clients yesterday. Central banks ``continue to diversify reserves and sterling is a beneficiary of these flows.''
QuoteDisliked``The pound has further to go,'' said Paul Robson, a currency strategist at Royal Bank of Scotland Group Plc in London. ``These two reports today will lead people to speculate on the idea that we won't be seeing just one rate hike from the central bank."
DislikedWe should be looking for retracement to enter long
Check this From BloombergIgnored
Disliked2.0104 (early Europe high) is now a support level. Prop points below include 2.0089 (today's Asian session top), 2.0074 (yesterday"s peak), 2.0063 (today's Asian session base), 2.0035 and 2.0000. TP in the distance at 2.0510 - I'll lock in manually 1 lot at a time on the ascent. SL 2.0062.Ignored
Dislikedthe question at this level, 26 year high, who is the buyers.
after cable hits so high and just stay there, buyers lose momentum. also short are scary to short.
so cable now don't have any direction.
i think it might get some up with short suqeeze. but don't expect up more.Ignored