Cable Update (GBPUSD)

Looks juicy to me as well.. bought for anything above 1.32 will be suffice for me...

Now when the drop starts...after weeks of topping...people start buying...can't make this shit up.

I know it sounds funny, but... not inconceivable, unfortunately.
It is tempting to think that the value of pound will always be in the bounds of, say, 1 and 2 dollars, but why exactly is that?

(long and somewhat irrelevant text below)

Let's look at a historical example. USSR was one of the two world's superpowers 40 years ago, and the value of Soviet rouble was about 2 dollars. Now a dollar is worth 75 (Russian) roubles. So value of rouble is 150 times lower. But the catch? There was a denomination, so it is actually 150,000 times lower. And this is not even an extreme scenario, it is easy to find worse.

Now surely UK is such a great and well-run country that nothing like that can happen here. It would never allow its banking and other services to lose rights to operate in its biggest external market, or its agriculture exports to be killed by tariffs, or its manufacture to be suffocated by border controls, it would never lose the biggest source of investment as the gateway to Europe, it would never engage in heated and sometimes war-like rhetoric against... well, pretty much everyone important: Europe, China, Russia, even US Democrats that, as you know, will govern now. Or wait...

Brexiteers on this thread are telling us that in 20 years time, we will see how good a decision it was to leave EU. But I have to ask: what is the economic path that UK now wants to pursue? "Champion of free trade"? But we are not able to agree a free trade deal even with our biggest and closest trading partner. "Producer of high-value products"? Well, we are striking a huge blow to our finance sector, the real reason why UK did very well in the last few decades; a blow that may not be overcome in many years. And IT, high-tech? UK is ill-equipped to make a breakthrough there: we simply don't have enough qualified people for this, and we are well behind in terms of technology. The attempts to create a new Silicone valley were made before (see here for example), but failed; Microsoft Reading offices were half-empty even before the pandemic. What is it, then? I really struggle to see. We will probably have to settle for isolationism and reduction in every sphere of our life and economy.

We lost a great position of power, both political and economic. Politically, we were a link between US and EU; we helped US with their interests in Europe, and Europe with their interests in US. For the rest of the world, we also were a gateway to Europe from political, economic and financial standpoint. All of this is now gone. And Brexiteers in power, being good at slogans and pathetic in everything else, can't suggest any replacement.

You surely know how a trend starts. It starts with a big impulse, and then can continue for a long time in the same direction. It is the same in economy and politics. If we look at the yearly chart, Brexit was an impulse, and now we will continue downward path for decades. We already lost a lot of GDP growth and currency value, and will lose more. Now let's look at the monthly chart. January 2021 will be the impulse, and for many months after that, economy will struggle. And I don't even talk about the social consequences, my post is too long already.

That buying is extremely short term... overall sentiment is already down..

N also my logic behind this buy is completely stupid.... last two 4h candles are big red and as per my gut feeling this 4h will go as highest half of the last 4h candle...this gut feeling i quickly backtested on charts happened multiple times... so in short i am playing casino

Many are waiting for 3400+ or more...and majority is long now. Banks will have a nice lunch before Christmas, fresh bull meat.

my sell here daily romar target and daily bolinger rule for 40/40 loss or profit

wait! what? you don't trade your dreams?

shorters in absolute control here. enjoy.

soon to close it... as my gut is completely wrong.....

ALL OUT AGAIN !!
387 $ PROFIT ONLY ON GU today , AND THAT WITH A 300 $ account lol
160 pips gain in overall

Nice one, I knew you would join the bears and make money . Take a breather now, enjoy the profits and be in no rush to jump back in!

took risky long

This!

I know you don't need an advice, but it makes sense to remove the TP until next week trading starts in earnest, as the weekend news may drop GBP to lower territory, and you do not want an automatic trigger of you TP just as the markets open.

Fibonacci extra levels and decimal levels - see posts by phylo - https://www.forexfactory.com/thread/...acci-indicator

Waste? If it hits my SL, then so be it. I wouldn't lose sleep over this and I sincerely doubt you would either.
BTW, you sound a bit too cocky. You need to tone down your arrogance before you get humbled.

I was too late

Haha, thanks. That's actually the reason I had it at 1.29. Do you think it can go lower than that?