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Cable Update (GBPUSD)

  • #634,861
  • Oct 31, 2021 12:08am Oct 31, 2021 12:08am
Looking the chart daily, the support will be around 1.3570
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  • #634,862
  • Oct 31, 2021 3:43am Oct 31, 2021 3:43am
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
  • #634,863
  • Edited 6:02am Oct 31, 2021 5:33am | Edited 6:02am
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I hear that several of the major banks have withdrawn their low mortgage offers and increased the rates for new mortgages, now from memory i recall this scenario happening in the past just before a rate hike.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
  • #634,864
  • Edited 5:57am Oct 31, 2021 5:40am | Edited 5:57am
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

Attached Image (click to enlarge)
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Follow The Markets Structure - Patience and Discipline
  • #634,865
  • Oct 31, 2021 5:54am Oct 31, 2021 5:54am
Looking where to buy next week.
Modest targets:
1.3728 very likely
1.3775 less likely
Air force
  • #634,866
  • Oct 31, 2021 6:03am Oct 31, 2021 6:03am
HEY, M Any suggestions?
Attached Image
Air force
  • #634,867
  • Oct 31, 2021 6:15am Oct 31, 2021 6:15am
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
  • #634,868
  • Oct 31, 2021 6:25am Oct 31, 2021 6:25am
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
  • #634,869
  • Oct 31, 2021 6:27am Oct 31, 2021 6:27am
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
  • #634,870
  • Oct 31, 2021 6:32am Oct 31, 2021 6:32am
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
  • #634,871
  • Oct 31, 2021 6:32am Oct 31, 2021 6:32am
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
You have to have an IQ higher than 90 to interact with this user.
  • #634,872
  • Edited 7:45am Oct 31, 2021 7:02am | Edited 7:45am
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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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #634,873
  • Edited 4:36pm Oct 31, 2021 7:23am | Edited 4:36pm
Ok I get it,
the Uk isn't adding to the QE like the US is now ,
this £875bn is what BOE holds ,while the US is adding $120 billion per month to $8.5 Trillion
thats why we talk UK rates next and it's taper in the US.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #634,874
  • Oct 31, 2021 10:24am Oct 31, 2021 10:24am
Quoting T721
{quote} I'm thinking 13370 target first. Probably bounce from there then down again
Below of 1.35, i think the price will drop to 1.31. I'll start the week selling, but i'm not have sure about the tendence bearish yet.
Together we can be strongest
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  • #634,875
  • Oct 31, 2021 11:56am Oct 31, 2021 11:56am
Quoting nAVIN2007
{quote} I wonder where in the UK u are based..Looking outside my window u describing my weather
im in Edinburgh, weather the same -- pissin down, cold, windy and dark
  • #634,876
  • Oct 31, 2021 11:57am Oct 31, 2021 11:57am
Quoting T721
{quote} im in Edinburgh, weather the same -- pissin down, cold, windy and dark
It's beautiful though. I love cold and dark weathers. Sun irritates my skin. Also who doesn't like wearing an overcoat and a flat cap? So classy
You have to have an IQ higher than 90 to interact with this user.
  • #634,877
  • Oct 31, 2021 12:58pm Oct 31, 2021 12:58pm
Hello Guys, last week did break touch 1.3700 and even below just as expected since 1.3830 didn't break, which eventually completed weekly range 150 pips.

Now here is my November Forecast

1.3750 ^ 1.3230 ... Heavily Bearish Bias. Only a daily close above 1.3830 will neutralize this bearish Bias.

Note: Either this November or December will likely have 750 pips range. Be careful as Volatility and price break out is very much around.
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Data + Stat + Risk/Emotions Management
  • #634,878
  • Oct 31, 2021 1:32pm Oct 31, 2021 1:32pm
1.445 fare enough for 2 month ( i wont go with bear, with you cow girl ) i guess nothing else
  • #634,879
  • Oct 31, 2021 3:59pm Oct 31, 2021 3:59pm
The GBPUSD market operation is sideways. On the daily time frame, price action is in a falling wedge (blue). It has rejected the 1.37900/1.38400 daily supply zone (magenta) and the wedge resistance trendline. Technically, we are in a bearish mode but, presently, price action is tackling the minor 1.36700 horizontal support (green). We should expect a brief northward pullback or sideways of price action before a southward continuation.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
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Do your homework, follow the footprints of smart money
  • #634,880
  • Oct 31, 2021 4:07pm Oct 31, 2021 4:07pm
Quoting Bones
ok I get it Uk isn't adding to the QE like the US is now , this 875 is what BOE holds ,while the US is spending 120 billion per month thats why we talk UK rates next and taper in the US {image} {image}
the effect on cable for the remaining year could lie from a trigger on Thursday. Rates rising seems inevitable however if BoE indicate a slow rate rise program the pair will drop hard. The quantitative easing needs to end or show a signs off which ain’t gonna happen
Insane in the Brain..
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