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Cable Update (GBPUSD)

  • #562,041
  • Nov 30, 2020 6:12am Nov 30, 2020 6:12am
Quoting MozzChops
{quote} I'm in the UK and its fooked. Debt galore, spending out of control, significant tax rises soon. It's a zombie economy. But then all fiat currencies collapse in the end.
Tax rises? I thought they will do something to motivate businesses to move there from the EU. What easier way is there to make money as to give businesses better opportunities than other countries give them. And taxes are insane in most of EU, many companies would gladly move with good tax incentives.
Everyone can see the chart, but only a few can actually read it.
  • #562,042
  • Nov 30, 2020 6:12am Nov 30, 2020 6:12am
i am only gonna try buy dips today......
Extreme gut feeling trader
  • #562,043
  • Nov 30, 2020 6:15am Nov 30, 2020 6:15am
btw the real story isn't gold, its copper. 6 years highs.
In tea leaves we trust!
  • #562,044
  • Nov 30, 2020 6:16am Nov 30, 2020 6:16am
Quoting OnlineAddict
{quote} Tax rises? I thought they will do something to motivate businesses to move there from the EU. What easier way is there to make money as to give businesses better opportunities than other countries give them. And taxes are insane in most of EU, many companies would gladly move with good tax incentives.
Yes. Corp tax was due to go down, but they have halted that and are planning an increase. The problem is there is no room for manoeuvre, UK is in a tight corner. debt due to go to £2.8tn. Tax revenue will be significantly down as lots of businesses are collapsing. Millions are being paid 80% to stay at home. Utterly ridiculous. There is one almighty storm coming to the UK economy...
A fool and his money are easily parted
  • #562,045
  • Nov 30, 2020 6:19am Nov 30, 2020 6:19am
when expectation change.. you change too.. never be royal
99.9% persistence
  • #562,046
  • Nov 30, 2020 6:19am Nov 30, 2020 6:19am
Quoting Moty
why are you buying ? the drop is here {image} {image}
congratulation for whom that took long .
now the drop is here
tp for gold 1765
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yes yes yes
  • #562,047
  • Nov 30, 2020 6:22am Nov 30, 2020 6:22am
Quoting Mcbeaners
uc - tanking. wish i were awake for it. btw its a luner eclipse today..... my lucky stars?
. . . and I took only 8p.
  • #562,048
  • Nov 30, 2020 6:23am Nov 30, 2020 6:23am
Quoting MozzChops
{quote} Yes. Corp tax was due to go down, but they have halted that and are planning an increase. The problem is there is no room for manoeuvre, UK is in a tight corner. debt due to go to £2.8tn. Tax revenue will be significantly down as lots of businesses are collapsing. Millions are being paid 80% to stay at home. Utterly ridiculous. There is one almighty storm coming to the UK economy...
I would do a 10-15% company tax and all the businesses which are registered in EU, would move there in a heartbeat, including google and others. Thats a far better way to increase tax money...because if you increase taxes, companies will not pay them, they will only look for ways how not to pay them. If taxes were as low as 10%, it wouldn't be worth the "cheat", companies would stop spending hundreds of millions on lawyers who help them not to pay taxes or minimize them, so in reality they don't even pay those 10%, even if they are supposed to pay 30-50%, for example. Just look at amazon in the US...if you take all their income, after expenses, they pay maybe a 1-2% tax, they simply outsmarted the system...all big companies do. So it looks nice on the paper, when a country has high taxes, but in reality, the ones who make the most money, pay almost nothing.
Everyone can see the chart, but only a few can actually read it.
  • #562,049
  • Edited 6:34am Nov 30, 2020 6:23am | Edited 6:34am
...taking a position in the market from your own fundie analysis is one thing and a perfectly reasonable thing to do. If you do so other perhaps than the specific reaction to data/an event risk, you likely need wide stops to let that analysis play out (or not) even if you try to time the entry technically, but trading technically - you need to trade the technicals - and not let what you may think about the prevailing fundie factors at play affect you as this would effectively be the same as trading what you think, not what you see.

If the technicals are indeed a graphical reflection of the prevailing fundamentally based sentiment then for eg, a buy set-up in a bearish market, consistent with your technical edge and what the t/f's of interest are doing (re trending or ranging and their relationship to each other,) is a valid set-up and vice versa, until the market tells you otherwise re the technicals.
Trader with an Edge.
  • #562,050
  • Nov 30, 2020 6:26am Nov 30, 2020 6:26am
USD is preparing for a bounce.
  • #562,051
  • Nov 30, 2020 6:27am Nov 30, 2020 6:27am
when we drop I ll be hold the market closes
99.9% persistence
  • #562,052
  • Nov 30, 2020 6:28am Nov 30, 2020 6:28am
Quoting OnlineAddict
{quote} I would do a 10-15% company tax and all the businesses which are registered in EU, would move there in a heartbeat, including google and others. Thats a far better way to increase tax money...because if you increase taxes, companies will not pay them, they will only look for ways how not to pay them. If taxes were as low as 10%, it wouldn't be worth the "cheat", companies would stop spending hundreds of millions on lawyers who help them not to pay taxes or minimize them, so in reality they don't even pay those 10%, even if they are supposed...
You are absolutely right. I'd rather get 10% of something than 100% of nothing.
A fool and his money are easily parted
  • #562,053
  • Nov 30, 2020 6:29am Nov 30, 2020 6:29am
Quoting Maximumheigh
{quote} Alot of Rs for the bull to fight, immediate 1.3336, 1.3356. I am still bearish.
Watch that R areas circled. I am still bearish. IMO
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  • #562,054
  • Nov 30, 2020 6:39am Nov 30, 2020 6:39am
Quoting OnlineAddict
{quote} What demand? Everything is shut down...people only buy basic stuff these days. If there is no export, there is no money, then there is no import. Thats kindergarten economy. Without solid export, in today's globalized world, a country is fucked. Easiest thing to do for the UK is to devaluate the currency and become more competitive that way. I am expecting the pound at 1.10-15 with no deal and at 1.20 with a deal.
You're still trading through Betfred?

I always have this fuzzy feeling you're some broker agent trying to lure poor traders to do horrible things
  • #562,055
  • Nov 30, 2020 6:40am Nov 30, 2020 6:40am
Quoting Bakker
{quote} . . . and I took only 8p.
know the feeling. looking at the uc tape i'd only be watching now.
In tea leaves we trust!
  • #562,056
  • Nov 30, 2020 6:45am Nov 30, 2020 6:45am
eurusd traders, a sell atmosphere. IMO
  • #562,057
  • Nov 30, 2020 6:46am Nov 30, 2020 6:46am
Quoting genadi
{quote} when did you start trading forex?
last week. you?

just kidding. i started trading about 20 years ago but that was in canadian penny mineral explorers. forex about 10 years off and on.
In tea leaves we trust!
  • #562,058
  • Nov 30, 2020 6:53am Nov 30, 2020 6:53am
Quoting Mcbeaners
{quote} last week. you? just kidding. i started trading about 20 years ago but that was in canadian penny mineral explorers. forex about 10 years off and on.
just currious, saw new member and was wondering
i started in 2011
  • #562,059
  • Nov 30, 2020 6:59am Nov 30, 2020 6:59am
Quoting MozzChops
{quote} Yes. Corp tax was due to go down, but they have halted that and are planning an increase. The problem is there is no room for manoeuvre, UK is in a tight corner. debt due to go to £2.8tn. Tax revenue will be significantly down as lots of businesses are collapsing. Millions are being paid 80% to stay at home. Utterly ridiculous. There is one almighty storm coming to the UK economy...
Indeed.
Que Sera
  • #562,060
  • Nov 30, 2020 6:59am Nov 30, 2020 6:59am
Quoting Mcbeaners
{quote} last week. you? just kidding. i started trading about 20 years ago but that was in canadian penny mineral explorers. forex about 10 years off and on.
what are your results? 20 years is a lot, did you manage to make decent amount of return?

after 9 years in trading i still find it hard sometimes. yet i am far from making 30-40% a year

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