Cable Update (GBPUSD)
- #547,482
- Sep 10, 2020 11:00am Sep 10, 2020 11:00am
- Joined Nov 2013 | Status: Busy | 1,396 Posts
I went back to me Sell bais after the BUY failed to break the SW zone.
BF
AF
One Day left for the week to end.
BF
Le$$ I$ More
- #547,484
- Sep 10, 2020 11:00am Sep 10, 2020 11:00am
- Joined Nov 2013 | Status: Busy | 1,396 Posts
{quote} What is sw zone? tq
.. sandwich zone
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- #547,488
- Sep 10, 2020 11:15am Sep 10, 2020 11:15am
- Joined Nov 2013 | Status: Busy | 1,396 Posts
{quote} I LOVE it when a trader can just reverse their opinion and trade the other side..!!! WELL DONE !!! Dont marry the opinion, trade the facts...DONE ! Same my side, was BUY bias, but switched once I pulled my head out my ass and looked what was REALLY building....lol I see some peeps here like to critisise traders that switch their initial opinion. Thats what I LOVE about trading, NO time for bullshit, read the facts, call your wrongs and move on and eat the pips. Trading is not a boardroom meeting where you can bullshit name blame shame your...
this is not rocket science it is trading.
Le$$ I$ More
- #547,489
- Sep 10, 2020 11:16am Sep 10, 2020 11:16am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
COT: The precious data ignored
- #547,490
- Sep 10, 2020 11:17am Sep 10, 2020 11:17am
- Joined Mar 2020 | Status: Trader | 3,499 Posts
{quote} Just got to scratch this comment before heading off. Fake bottom liquidity grab in play from what I can see on the 4hr.
Compulsions can be hard to resist
- #547,491
- Sep 10, 2020 11:18am Sep 10, 2020 11:18am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
COT: The precious data ignored
{quote} If I can get my human head out of the way, and just trade what my chart shows me, I will never be wrong. Simple example : Tug of war It does not matter who the two forces at the end of the rope is, as long as I can measure the force in the rope, I can determine direction. How far the pull will be to one side, Im slowly starting to unravel that mystery. I rarely look at data release or whats happening in the news, Im not oblivious to it, but its not the driving factor. Retail ,( dumb money), they get blinded in that smoke & mirrors mystery,...
but main thing is big picture, and market structure, but its difficult to think at same moment about so many things, 4h candle, daily trend, resistant levels, trend lines and market reactions to them, everything looks perfect, just Im not computer but with more time i will be i like this game, you need to be concentrated but relaxed, and execute then see opportunity, even you made mistake before, but is like sport, you fall, you get up, you fall, you get up.. sometime market makers need to give money, in order not to lose more, to stop selling, they buy, its part of they game, they strategy probably, but in the chart its written...every battle is won before thought, money,big money doesn't move in a day, why i think those 2 mountains int the gbpusd chart was clear sign of weakness, but market still can move longer than you can stay sober..
- #547,493
- Sep 10, 2020 11:51am Sep 10, 2020 11:51am
- Joined Oct 2010 | Status: Trader | 21,479 Posts
Intraday only.
- #547,494
- Sep 10, 2020 11:52am Sep 10, 2020 11:52am
{quote} As I said in my post, domestic producers and the government are the main gainers in tariff protected trade. Manufacturers would simply increase prices in line with their increased costs effectively pushing their increase of costs onto consumers. The big deal is if UK industry (Agriculture, Automotive, Pharmaceuticals) can get back on it's feet after its been beaten down for many years by foreign competition. You are right though consumers stand to be the big losers in this situation as will always be in a tariff scenario. However taxes could...
Agriculture is heavily subsidised by EU; after Brexit, it will be subsidised by UK -- and we will see how effectively. And because it is subsidised, bigger agriculture is actually worse for economy (although better for strategic security -- i.e., in the case of war). Further, it relies (at least partly) on extremely cheap immigrant labour, this will cease to be the case. And in the case of a US trade deal, big part of Agriculture will be obliterated, which may be better for economy, but will be terrible for the food we eat.
Automotive will be hit hard, because of supply chain disruption. Factories need details from all over the Europe, and supply details to all over Europe. With hard border, it will become impossible to do that in a similar manner, which means logistical nightmare. Also, most of British manufacturers are actually not British (German/French/Japanese). Will they continue to operate in Britain, with all the issues involved? It remains to be seen. I don't even talk about the effect of tariffs on prices and competitiveness. [I actually happen to know a person working at Ford UK, near the top. He says that for them Brexit is terrible. But what does he know.]
Pharmaceuticals -- I don't know much about them. But any deal with the US will probably have to include Big Pharma.
Taxes -- well, good luck reducing the taxes in current Covid situation (big unemployment, business bankruptcies coming soon). We can of course borrow... But that's another sad story.
No, economy-wise Brexit is a catastrophe, even worse than what markets think. Now, can all these issues be resolved? Probably yes. Resolved quickly? Alas, no. You have to rebuild the economy. It takes time, effort, investment (which will also dry up), qualified personnel (that will stop coming to UK in vast quantities, and partly leave). And we did not yet discuss what will happen if financial system is badly effected.
The only real benefit that I can see is that if we have a big economic, financial and social world crisis (that may come very, very soon), we will be somewhat isolated on our small island and a half.
Which may (or may not) make it easier to get through.
- #547,499
- Sep 10, 2020 12:16pm Sep 10, 2020 12:16pm
- | Commercial User | Joined Sep 2009 | 1,757 Posts
Make money by doing the opposite of Giveachance aka loser