Well, all of last week, since Jan 6th when I last posted here, Luke has been busy liquidating all my Cable longs (and all stock index longs, commodity longs and USD shorts, for the matter, with the exception of the USDYen where the opposite has happened, for reasons I will post in the Yen thread soon).
Overall, it's been a choppy (when is it ever smooth!) but quite profitable ride up to 1.37, but now Luke says it's time to do a U-turn and he entered into Cable SHORTS.
Ultimate target: around 1.2820
By when? : Luke says by this time in April, so 3 months
Anything else from Luke? Yes, he says it will be a choppy ride down for Cable traders, so many might be trapped into longs along the way! I hope HE is not the one who gets trapped short! But I have to trust my pufferfish...
Here's Luke's cable weekly candle chart from Sunday 3rd Jan and the updated one from today. With the time zone change, I miss the London open but that's no big deal. I still usually catch the NY open. Besides, when you don't day trade & scalp, time zones don't matter much.
Finally, also attached is a selfie of Luke chilling by some corals!