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Cable Update (GBPUSD)

  • #492,481
  • Sep 8, 2019 3:53am Sep 8, 2019 3:53am
Quoting navk
{quote} https://www.forexfactory.com/showthread.php?p=10045264

Excellent Navak thank you

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  • #492,482
  • Sep 8, 2019 6:48am Sep 8, 2019 6:48am
Quoting malcolmb14
{quote} The eu might be ok as daily has an upthrust showing supply . It might drop a little before ecb on low volumes so that smart money can buy before ecb rates later in the week . If eur does move down Before ecb consider moving stops way down to protect profit . If they mention stimulus in the minutes at all Dax will fly up and eurusd will head up. Often smart money will manipulate markets down to buy at discount if they know news is going to be positive . Remember smart money know the news already only us retail traders waiting with baited...
If price can sustain below SMA-13 on H4, I'd be more sure about my short Cable
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Meditate -> Workout -> Good Food = Good Life!
  • #492,483
  • Sep 8, 2019 8:26am Sep 8, 2019 8:26am
Quoting YellowFellow
{quote} If price can sustain below SMA-13 on H4, I'd be more sure about my short Cable {image}
Agree on that one ... break of that resistance and a low range up bar would make a nice entry under the low of the up bar . So far that down move Friday was weak with limited sell interest
Blogging daily now at www.volume.zone
  • #492,484
  • Sep 8, 2019 8:43am Sep 8, 2019 8:43am
short GU? Friday was mild profit taking after a week-long explosive upthrust. Look at the weekly candle.
Might be some continuation on Monday, but other than that, just BTFD, TP near 2400 and enjoy the ride.
Unless 2200 cracks, I'll only buy dips.
  • #492,485
  • Sep 8, 2019 9:13am Sep 8, 2019 9:13am
Looks like France will be rejecting the Brexit extension. Should be negative for GBPUSD.
  • #492,486
  • Sep 8, 2019 9:38am Sep 8, 2019 9:38am
RSI10 weekly since 2016.
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  • #492,487
  • Sep 8, 2019 11:19am Sep 8, 2019 11:19am
Boris won't ask
Thier going to test that shiny new law. I thought about it and he's going to argue they made a law that's against his mandate putting him in an impossible position.
While he offered a route out with an election.
The main thing to drive it up is an election itself maybe...

Quoting TraderTero
Looks like France will be rejecting the Brexit extension. Should be negative for GBPUSD.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #492,488
  • Sep 8, 2019 11:53am Sep 8, 2019 11:53am
Quoting Bones
Boris won't ask Thier going to test that shiny new law. I thought about it and he's going to argue they made a law that's against his mandate putting him in an impossible position. While he offered a route out with an election. The main thing to drive it up is an election itself maybe... {quote}
Not sure if Boris actually have a choice here, regardless how the new law jeopardize his negotiation stance, the law is clear that if parliament cannot agree on a deal and fail to support a no-deal, then the PM has to request an extension from EU on 19th Oct. Boris can make up any excuse he wants, but failing to send a request to EU will mean he is disobeying the law and it will open himself up to litigation from all directions, highly doubt any politician is willing to expose themselves to such risks, not to mention that it will set a terrible example if the head of state does not comply to a law that was passed in parliament, regardless of how controversial it is.

I think his last card might be to trigger a vote of no confidence on himself in order to trigger a general election before 31st Oct since it is clear that the oppositions won't vote for an election before 31st Oct, but I don't think he has the votes for it.

I think we have all heard a couple of times that France will veto the extensions on Brexit, but EU always ends up extending it due to the optics, EU really don't want to be blamed or seen as the ones pushing UK out of the bloc. Don't think this time is any different, especially when it looks like UK is going into a general election after 31st Oct, I think it would make sense to give UK another extension and see if the opposition can gain majority now that the Tory party is in crisis and pretty split internally, if oppositions wins and this leads to a second referendum, then it is a bonus.

Personally, I think all sides will harden their stance and posture till October, EU will warn that they won't allow further extensions, and everyone in UK will be so fearful that May's deal will end up passing on its 4th try in parliament before 31st Oct, maybe with some slight change from Brussel on her deal to make it look like everyone did their parts and came together politically.
  • #492,489
  • Sep 8, 2019 12:56pm Sep 8, 2019 12:56pm
Quoting OnlineAddict
2205 is a minimum target for GU shorts, don't get scared just because it looks super bullish now. Something will come, news or tweet or whatever and we will go towards 2200. No need to target 10 pips with shorts.
What a joke.

You short?? ?

Yo mama gave you 10 dollars to open short ???

What happened with

Quoting OnlineAddict
Next target is 2780. You are shorting a bottoming.
Whaaaaaaaaaaaat agaaaain

And

LOL.

Quoting OnlineAddict
{quote} Yes, there will be 1.45, I blablaaaa
It may take months or a year, I don't really care, I will keep buying the dips and.....few lies here by O.Add...... Good advice!
I'm saving this in my notes.
I'll laugh and pull it occasionally
Onlinus Addictus Longus

Will you lie to people now that you were short 2 years straight? ??

But Yes i was short
Beware of robber banks (RB), bad advisors.
  • #492,490
  • Sep 8, 2019 1:00pm Sep 8, 2019 1:00pm
I'm bored.

I don't know what way the Brexit liars will kick this crazy cr.p but i know I'm short. LITTLE SHORT !!!

The retail indicator is unclear ....let it go 1.25 aNd add Sell

If they totally cancel Brexit on 25 October i may buy.

So look smart
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Beware of robber banks (RB), bad advisors.
  • #492,491
  • Sep 8, 2019 1:06pm Sep 8, 2019 1:06pm
Quoting OnlineAddict
{quote} Well, sometimes I get lucky...
.....is what your moma said

About your trading - doubt it.

So you're short now that every Brexit liar is smashing Brexit and remain=pound is strong? ??

Good laughable trades
Beware of robber banks (RB), bad advisors.
  • #492,492
  • Sep 8, 2019 1:08pm Sep 8, 2019 1:08pm
Quoting OnlineAddict
Do not long cable before 2040-50 is hit again.
When 1.45????



I'm soooo bored
Beware of robber banks (RB), bad advisors.
  • #492,493
  • Sep 8, 2019 1:34pm Sep 8, 2019 1:34pm
Well, Boris is going to let it go court regardless, obviously, we don't know the angle. I just guessed. Yea he will then have to go if the Government lose...
No confidence in himself doesn't help with a 14-day gap. Then I wonder what happens with parliament shut. Could the opposition even rally around another caretaker?

Quoting Han2019
{quote} Not sure if Boris actually have a choice here, regardless how the new law jeopardize his negotiation stance, the law is clear that if parliament cannot agree on a deal and fail to support a no-deal, then the PM has to request an extension from EU on 19th Oct. Boris can make up any excuse he wants, but failing to send a request to EU will mean he is disobeying the law and it will open himself up to litigation from all directions, highly doubt any politician is willing to expose themselves to such risks, not to mention that it will set a terrible...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #492,494
  • Sep 8, 2019 1:39pm Sep 8, 2019 1:39pm
Inserted Video
  • #492,495
  • Sep 8, 2019 2:07pm Sep 8, 2019 2:07pm
Quoting Bones
Well, Boris is going to let it go court regardless, obviously, we don't know the angle. I just guessed. Yea he will then have to go if the Government lose... No confidence in himself doesn't help with a 14-day gap. Then I wonder what happens with parliament shut. Could the opposition even rally around another caretaker? {quote}
I think a vote of no confidence on himself, if passed can be used to essentially dissolve parliament until after the 31st Oct if he makes the elections date on the same day, since parliament will start prorogation next week and it is usually dissolved 20 days before a general election. No one likes Jeremy Corbyn as caretaker PM and there won't be time for parliament to come up with a care taker PM next week due to prorogation, not to mention parliament also need to have a vote of confidence on a caretaker government. And if Boris decides to resign as PM before 19th Oct while parliament is dissolved, the default is a no deal Brexit and he can't be challenged in the courts since he will no longer be PM on 19th Oct, essentially leaving UK without a government nor parliament for the last 2 weeks of Oct. Although I really doubt he have enough tory votes for this nor will Bercow allow this kinds of votes tomorrow which is really the last chance Boris have in triggering a vote of no confidence...
  • #492,496
  • Sep 8, 2019 3:16pm Sep 8, 2019 3:16pm
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hit the tl and trough
  • #492,497
  • Sep 8, 2019 3:21pm Sep 8, 2019 3:21pm
so much going on behind the scenes , Johnson brother quitting , Amber Rudd quitting , maybe other members of the Government quitting as well in the next days

there could be a secret plan struck by Boris and Buckingham Palace to just exit on Oct. 31 without a deal

BennBilll passed by the Lords, but what if it does not get royal assent and it does not become law ?

and if France and the EU allow no Delay , the UK would be out without a deal amid a big mess
  • #492,498
  • Sep 8, 2019 3:39pm Sep 8, 2019 3:39pm
Quoting MXT
so much going on behind the scenes , Johnson brother quitting , Amber Rudd quitting , maybe other members of the Government quitting as well in the next days there could be a secret plan struck by Boris and Buckingham Palace to just exit on Oct. 31 without a deal BennBilll passed by the Lords, but what if it does not get royal assent and it does not become law ? and if France and the EU allow no Delay , the UK would be out without a deal amid a big mess
the BennBill ALLOWS no-deal brexit IF the MPs vote for it post the EU council meeting. don't think many people talk about it here.
  • #492,499
  • Sep 8, 2019 3:43pm Sep 8, 2019 3:43pm
Here's my take on the GBPUSD.

A morning star formation is on the daily time frame. There was a bullish follow-through on Wednesday and Thursday last week, but it was limited by the bearish print on Friday. Technically, the momentum is still with the bulls and we may see further northward move in the early part of this week. However, the market structure is still intact, and we may see a southward turnaround soon, much likely at the 1.23790/1.25300 resistance zone (bound by blue horizontal lines).

I may be wrong. Trade safe and prosper.

KP


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Do your homework, follow the footprints of smart money
  • #492,500
  • Sep 8, 2019 3:46pm Sep 8, 2019 3:46pm
Quoting baldmonk
{quote} the BennBill ALLOWS no-deal brexit IF the MPs vote for it post the EU council meeting. don't think many people talk about it here.
hey bud , how do you know BennBill allows no deal brexit ?

besides , it won 't become law until it gets royal assent
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