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Cable Update (GBPUSD)

  • #453,301
  • Jun 26, 2017 11:13am Jun 26, 2017 11:13am
do you think BOE will talk about rising rates tomorrothw to cool down the credit boom ?

https://www.bloomberg.com/news/artic...ging-on-credit

i am in short possition of GBP/USD showever who know those days markets are acting weird and if we get a surprise tomorrow from BOE - previous talk was not rising rates i hope they are going to keep it that way
  • #453,302
  • Jun 26, 2017 12:36pm Jun 26, 2017 12:36pm
Quoting josh11
2723 is a very high prob target GL
Target hit
  • #453,303
  • Jun 26, 2017 10:28pm Jun 26, 2017 10:28pm
Just a recap to think about what might happen tonight.

On the 15th of June the Monetary Policy Committee voted and of the 8 current members 3 voted to increase the interest rate, and 5 voted to keep interest rates the same (the previous vote was 1 to increase and 7 to keep the same). The result was a huge jump of 100 pips up wards (first chart below).

The following Tuesday on the 20th of June Carney gives a talk and says it is too soon to raise interest rates and the GBPUSD falls 80 pips.

So looks like tonight after the BOE Financial stability report at 7:30pm, when Carney speaks at 8pm (Sydney Time; 11am London time) if he changes his mind and thinks they might need to increase interest rates, price should shoot up. But if he confirms that interest rates should stay on hold, price should come down.

At the moment the price is doing a bit of a creep upwards since about 12pm (Sydney time)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Possible increase interest.jpg Size: 799 KB
Click to Enlarge Name: Leave interest low.jpg Size: 819 KB
Click to Enlarge Name: Today price.jpg Size: 188 KB
  • #453,304
  • Jun 26, 2017 11:03pm Jun 26, 2017 11:03pm
Quoting AusFastLife
Just a recap to think about what might happen tonight. On the 15th of June the Monetary Policy Committee voted and of the 8 current members 3 voted to increase the interest rate, and 5 voted to keep interest rates the same (the previous vote was 1 to increase and 7 to keep the same). The result was a huge jump of 100 pips up wards (first chart below). The following Tuesday on the 20th of June Carney gives a talk and says it is too soon to raise interest rates and the GBPUSD falls 80 pips. So looks like tonight after the BOE Financial stability report...
Central bankers don't change their mind overnight.
He still might say positive things as well.
Yeah?! Well.. you know, that's just like.. your opinion man! - Big Lebowski
  • #453,305
  • Jun 26, 2017 11:14pm Jun 26, 2017 11:14pm
Inserted Video
  • #453,306
  • Edited 2:10am Jun 27, 2017 1:46am | Edited 2:10am
Quoting 10cents
Looks like shorts are almost ready to pounce...... 1.2730 or more seems to be the price they need. Shorted 1.2735, target probably 200-300 pips below...... going to take a while but hopefully it gets there. Cheers everybody.

Closed all shorts at 1.2740....... likelihood we get either a below 1.27xx print or a 1.28xx print..... too risky to hold positions in the middle

Will buy below 1.27xx or sell above 1.28xx whichever comes first.

Green pips to all.

Bottom tested twice now....... looks like a 1.28xx print first is a more probable scenario.
  • #453,307
  • Jun 27, 2017 3:36am Jun 27, 2017 3:36am
Quoting Ill-b-back
{quote} Scratch that, looking at daily PA, I don't think there is much left in the bullish tank. {image}
Ok Charlie Brown, NOW we can go down...
Come with me if you want to live....
  • #453,308
  • Jun 27, 2017 3:40am Jun 27, 2017 3:40am
Quoting Tsar
Cable in H1 Chart The Cross Line with Arrow is Important to Watch and the Horizon Green Line as Neckline. BLUE Box as Supply area & MAGENTA Box as Demand area. {image} {image}
Quoting Tsar
Cable in H4 Chart The Cross Line with Arrow is Important to Watch. And the Horizon Green Line as Neckline. BLUE Box as Supply area & MAGENTA Box as Demand area. {image} {image}
Cable H1 Chart Updates

Cable H4 Chart Updates
Attached Image(s) (click to enlarge)
Click to Enlarge Name: CABLE H1 Chart 2017-06-27.jpg Size: 548 KB
Click to Enlarge Name: CABLE H4 Chart 2017-06-27.jpg Size: 562 KB
Always looking the GREAT, never left GOOD Point...
  • #453,309
  • Jun 27, 2017 3:51am Jun 27, 2017 3:51am
Took small long at 1.2741....... SL just below 1.27

TP = 1.2790

If it gets there hopefully, will get shorts in just as soon as 1.28xx print achieved.
  • #453,310
  • Jun 27, 2017 3:55am Jun 27, 2017 3:55am
Quoting AusFastLife
Just a recap to think about what might happen tonight. On the 15th of June the Monetary Policy Committee voted and of the 8 current members 3 voted to increase the interest rate, and 5 voted to keep interest rates the same (the previous vote was 1 to increase and 7 to keep the same). The result was a huge jump of 100 pips up wards (first chart below). The following Tuesday on the 20th of June Carney gives a talk and says it is too soon to raise interest rates and the GBPUSD falls 80 pips. So looks like tonight after the BOE Financial stability report...
Hmm, big fat nothing happened. Drifted up 10 pips. Did a brief spike up to 1.27731 when the financial stability report came out but then did nothing. Mind you the Carney talk is still going (
Inserted Video
).
Attached Image (click to enlarge)
Click to Enlarge Name: Nothing happened.jpg Size: 190 KB
  • #453,311
  • Jun 27, 2017 4:46am Jun 27, 2017 4:46am
Quoting AusFastLife
{quote} Hmm, big fat nothing happened. Drifted up 10 pips. Did a brief spike up to 1.27731 when the financial stability report came out but then did nothing. Mind you the Carney talk is still going (https://www.youtube.com/watch?v=GMs6epq558Y). {image}
Forgetten the NEWS...

Let's Focus on the Chart. The CHART telling Everything
Attached Image
Always looking the GREAT, never left GOOD Point...
  • #453,312
  • Jun 27, 2017 4:54am Jun 27, 2017 4:54am
What a nice selling signal after the report I am seeing. Adding some more after the Carney speech.
  • #453,313
  • Edited 6:42am Jun 27, 2017 5:06am | Edited 6:42am
Had a decent trade going last night before going to bed. Changed SL to trailing SL, and got stopped out for small 7 pip profit. :-(
If left alone, the TP of 28 pips, set just below the last minor pivot high would have been achieved. Win some, lose some, but hopefully learn from both.
(I can't figure out how to have the attached image show up without clicking on it. Sorry) Well, I see the chart shows up in the post! :-)
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 10;200 HMA;MACD 1 hour chart trade.PNG Size: 66 KB
  • #453,314
  • Jun 27, 2017 10:27am Jun 27, 2017 10:27am
I think it's time to knock out this line.
GL&HF
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.png Size: 15 KB
  • #453,315
  • Edited 11:21am Jun 27, 2017 10:47am | Edited 11:21am
I think this is about the place that bulls will clear out with shorts coming back in.

May still get a 1.28xx print...... but i don't think it will hold up above that level for too long.

Filled some shorts at 1.2803...... if it goes up further, will add again if signs of reversal appears.
If price fails in this region........ market may move fast to cover the targets below.


Nitezzzzzzzz all
  • #453,316
  • Jun 27, 2017 12:10pm Jun 27, 2017 12:10pm
that spike was a nice stop hunt... it could signal the end of the move.
  • #453,317
  • Jun 27, 2017 12:15pm Jun 27, 2017 12:15pm
Quoting Takisd
that spike was a nice stop hunt... it could signal the end of the move.

Could be man, prices get bigger swings at these extreme ends.

Anyway got another shorts filled at 1.2850. Last one for me.
Hope it works out this time.
  • #453,318
  • Jun 27, 2017 12:15pm Jun 27, 2017 12:15pm
That was a super fast spike. Out of nowhere?
Attached Image
Self discipline It is a practice
  • #453,319
  • Jun 27, 2017 12:29pm Jun 27, 2017 12:29pm
Quoting 10cents
I think this is about the place that bulls will clear out with shorts coming back in. May still get a 1.28xx print...... but i don't think it will hold up above that level for too long. Filled some shorts at 1.2803...... if it goes up further, will add again if signs of reversal appears. If price fails in this region........ market may move fast to cover the targets below. Nitezzzzzzzz all

I agree, but there will be plenty counter scalps on the way down or just look at some Long EURGBP set ups.
"All the money is made between the lines"
  • #453,320
  • Jun 27, 2017 1:14pm Jun 27, 2017 1:14pm
Quoting okshop
That was a super fast spike. Out of nowhere? {image}
Sorry, it was me going long GU.
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