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Is it just me or is cable acting random? 44 replies

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Cable Update (GBPUSD)

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My view is we'll see a surge up to 1.3850-1.39 on 4th Nov then a a meltdown to 1.33 and below rest of the year
Quoting mysterio
My view is we'll see a surge up to 1.3850-1.39 on 4th Nov then a a meltdown to 1.33 and below rest of the year
I think the "meltdown" period is behind us. Brexit is done, now its time to "fix" the 1.50 area and above. GU is bullish as it can be on the yearly chart and only bearish on the smallest timeframes...so every dip is a good buy. When I look at the US under Biden...its so fucked up its beyond imaginable. And it will get worse...eventually the USD will lose its reserve status and will turn into toilet paper. Euro? Who even knows if it will still be here in 10-20 years. It is great for tourists and travelling accross the EU, but economically its a disaster. It makes no sense to give 20 completely different countries with a different economy, the same currency. It won't survive longterm. And the rest? AUD? NZD? Those countries are gone...pure dictatorship and people over there even happy about it. They are safe against a flu, so it must be worth it. So in the end, british pound might be the safest currency to keep. It might be the "last man standing".
Everyone can see the chart, but only a few can actually read it.
Week Ahead with Nordling

Next week will be a crazy one with RBA, FOMC and BoE meetings. Let me share my expectations about these meetings.

Let's start with the Reserve Bank of Australia (RBA):

Australian core inflation rate is now at 2.1% and the inflation target of RBA is between 2-3%. So we can safely say that inflation is not a big concern in Australia. Unemployment rate currently stands at 4.6% which is even below the pre-pandemic level and considered as a natural unemployment rate. So with these numbers, i think RBA Monetary Decision will be a neutral and a quiet one.

FED (FOMC Meetings):

US core inflation stands at 4% which is double the FED's target. US unemployment came down to 4.8% which is considered as a natural unemployment rate. US GDP numbers came out lower than expected but it is still standing at 2% which is a good number overall. So that US Growth and Unemployment numbers are on target, it's time to deal with the inflation and start tapering. Hawkish FED is expected.

Bank of England (BoE):

UK Core inflation is 2.9% which quite high considering the target is 2%. It's definitely on the edge and concerning. UK unemployment is currently standing at 4.5% and it is natural. UK Growth rates came out very high standing at 5.5% right now, so we can easily say that with these numbers BoE can safely act on inflation. Hawkish BoE is expected. Probably an interest rate hike is coming this week. So i wouldn't recommend shorting the Pound against anything right now.
TRACK RECORD: https://l24.im/AFm9qY
Quoting OnlineAddict
{quote} I think the "meltdown" period is behind us. Brexit is done, now its time to "fix" the 1.50 area and above. GU is bullish as it can be on the yearly chart and only bearish on the smallest timeframes...so every dip is a good buy. When I look at the US under Biden...its so fucked up its beyond imaginable. And it will get worse...eventually the USD will lose its reserve status and will turn into toilet paper. Euro? Who even knows if it will still be here in 10-20 years. It is great for tourists and travelling accross the EU, but economically...
Yea I mean..nothing really to hugely to disagree about there. This is all long term fundamental stuff and speculative, I'm not a position trader strictly m1

Chart wise USD is headed to 96 area and GU has set up for a liquidity grab closer to 1.39 to head down for the rest of the year. DXY is just retracing after a major breakout on weekly.

I can't quite get why you're so down on the EU as it still has powerhouse economies-- UK is a bit of a basket case currently
Quoting mysterio
I can't quite get why you're so down on the EU as it still has powerhouse economies-- UK is a bit of a basket case currently
But thats the problem...some economies are strong, some weak, some productive, some less, too many differences, yet the same currency. If one country is doing poorly and would need central bank intervention, they can't do anything, as they share the currency with others. Now imagine the american continent would have one currency...it would be a mess. I get that the idea is to get the economies closer together this way...but not sure it can even happen, this is not the US, every country is totally different.
Everyone can see the chart, but only a few can actually read it.
Quoting donfriday
{quote} I have similar chart setup since august but it’s only a long term i am looking to sell from top
I never loose! Either I win or learn!
Believe in your set ups.
Quoting Waveskierrob
I don't use techs or fundies and posted various live trades for months now, you decided if successful or not?...so what does this tell us ......over the years I've found that there are two types of traders, those who want to be right and those who want to make money.....which one are you?....Happy weekend
Hi WaveSkierRob,

Admirable skill ?

Trading is a learned skill much like any other skill-based profession.
And in all cases the learning takes thought, application, dedication, perseverance, practice, experience and adaptability.
I imagine there must be people out there with an innate gift for trading, like virtuoso for Niccolò Paganini.

And I believe you’re consistently profitable trader without being born gifted, as you have worked at it to improve your skills to the required standard.

But, here’s some thought for such talented trader as you,

When you're so good people call hacks

Niccolò Paganini, an Italian violinist and street performer, was one of the most famous virtuoso of all time and the whispers about Paganini were thick but it was not only his abilities that made him a topic of conversation, but the thought that his skills were gifted to him from Lucifer himself.

Same goes to Sir Issacc Newton.
People were afraid of him. He had a math problem he could not solve and invented calculus to solve it.
The Queen knighted him to get him on her side just in case.

Even the son of God (he claimed to be one in this thread) couldn’t match your skill.
He was your associate, but now disappear.

There have always been conspiracy theorists who defy logic.
Hope Lucifer stay out of this business.

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I come from the future.
Looking the chart daily, the support will be around 1.3570
Together we can be strongest
Quoting Pat Chiko
{quote} Hi WaveSkierRob, Admirable skill ? Trading is a learned skill much like any other skill-based profession. And in all cases the learning takes thought, application, dedication, perseverance, practice, experience and adaptability. I imagine there must be people out there with an innate gift for trading, like virtuoso for Niccolò Paganini. And I believe you’re consistently profitable trader without being born gifted, as you have worked at it to improve your skills to the required standard. But, here’s some thought for such talented trader as...
Found me out, sold my soul and a bottle gin to the.Diablo
Soon To Be Temporarily Suspended Again
Windy and rainy day here in the UK, apparently we have food shortages which i have seen none of, in-fact there has been an abundance of food in the supermarkets, so it is the usual press nonsense making a big problem out of a small one, although we do have rampant inflation which i suspect the Boe will act soon to curb.


No appetite here to venture out to do anything exciting on a day off from work so some chart analysis seems like a good idea to pass a few hours until Sunday lunch.


Next week we have Boe announcement and of course unless we have inside information , no one really knows what will happen but we can make some educated guesses based on charts and our past experiences in life.

I hear that several of the major banks have withdrawn their low mortgage offers and increased the rates for new mortgages, now from memory i recall this scenario happening in the past just before a rate hike.


Chart wise i believe we are in the process of a massive liquidity gathering exercise across all major pairs so we are likeLY to see a shift in direction very soon.

As i said before my crystal ball is retired but there is nothing wrong with making some assumptions that are ultimately not trading decisions because price and price alone will dictate the way we trade and which trades are executed.
Follow The Markets Structure - Patience and Discipline
Quoting pipfarm
Windy and rainy day here in the UK, apparently we have food shortages which i have seen none of, in-fact there has been an abundance of food in the supermarkets, so it is the usual press nonsense making a big problem out of a small one, although we do have rampant inflation which i suspect the Boe will act soon to curb. No appetite here to venture out to do anything exciting on a day off from work so some chart analysis seems like a good idea to pass a few hours until Sunday lunch. Next week we have Boe announcement and of course unless we have...

DAILY support is actually SBR, support became resistance now due to be retested, forgot to add 3782 RBS to be tested for Monday before more downside

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Follow The Markets Structure - Patience and Discipline
Looking where to buy next week.
Modest targets:
1.3728 very likely
1.3775 less likely
Fade to black
HEY, M Any suggestions?
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Quoting palpite
Looking the chart daily, the support will be around 1.3570
I'm thinking 13370 target first. Probably bounce from there then down again
@tt
Quoting pipfarm
Windy and rainy day here in the UK, apparently we have food shortages which i have seen none of, in-fact there has been an abundance of food in the supermarkets, so it is the usual press nonsense making a big problem out of a small one, although we do have rampant inflation which i suspect the Boe will act soon to curb. No appetite here to venture out to do anything exciting on a day off from work so some chart analysis seems like a good idea to pass a few hours until Sunday lunch. Next week we have Boe announcement and of course unless we have...

I wonder where in the UK u are based..Looking outside my window u describing my weather
Quoting nAVIN2007
{quote} I wonder where in the UK u are based..Looking outside my window u describing my weather

Top secret , i can say south of London , i am thinking of cutting the work year short and taking a trip abroad , not sure if i can stand another wet cold winter in England.
Follow The Markets Structure - Patience and Discipline
Quoting pipfarm
{quote} Top secret , i can say south of London , i am thinking of cutting the work year short and taking a trip abroad , not sure if i can stand another wet cold winter in England.
I have a feeling u practically my next door neighbour lol
Quoting W0lfram
HEY, M Any suggestions?{image}
Until 2025 GU can go up 300 pips or down 300 pips. This is important because nobody made a 4 year forecast except Maheee
TRACK RECORD: https://l24.im/AFm9qY
if they don't raise rates ,those mortgages won't come back down for a fact ,the cost of borrowing will follow inflation.There you will see central banks don't control this .
Im still wondering the point of continuing QE and raising rates at all ,
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