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Why is GBPUSD called cable? 76 replies

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Attachments: Cable Update (GBPUSD)
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Cable Update (GBPUSD)

Quoting Wavegarrick
{quote} Hi Folks, My weekly pivot at 1.20054 (yellow highlight - daily chart) coming up with lots of support at 1.956 if there is an overshoot. I will look to add buy trades from here. Have a great week, Cheers. {image} {image}
So far so good Folks,
My weekly resistance 1 at 1.22333 up for grabs.
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I mentioned the 2 year 50% Fib retrace at 1.22866 a couple of posts ago. This is now becoming a strong possibility.
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Trade well,
Cheers.
Trade to trade another day
My first post relating to trade after hibernating for some time, here goes.

Market today likely will have enough juice to hit 1.21971.
Bear in mind market is quite over-extended to the upside, there's a good chance it will start stalling, creating a price ceiling that last all the way to next London open, then Short it when you spot a good bearish engulfing in next London open.
I'd be cautious going Long now, dont do it.
Road to retirement before 30, GBPUSD only, Daily only.
Quoting Indiara
{quote} This is a great read Pat. Thank you. To those who think that trading is 'gambling' (and I am not saying that they're wrong), I will argue that the biggest 'investment' they may make in their life is buying a house. They may have to borrow $500k from their bank and that loan has to be repaid, plus a big interest amount. They may argue, 'but it's ok, it is an 'investment'. I will argue, maybe it is an investment, once you have repaid the loan. But you borrowed $500k (plus interest) and you NEED to keep a job for perhaps the next 15 to 25 years...
I'm sorry if I made you misunderstand me.

I didn't say "trading is gambling"
I said "trading without knowing the direction is gambling"

without direction it would be guessing 50/50 and that's gambling.

hope I'm more clear this time

cheers,
"the public is not yet ready for it" W.D. GANN
looks like i am going on a break until next Wednesday
Buying a house is a forced saving like a pension money one can’t touch debited monthly. A house is an expense, but a second property if baught at the right price is an investment. Most middle class people build wealth through property investments over time than through the stock market.
it will not stop soon...HH on weekly chart probably

just leave it.
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The market has short memory
Quoting Kwt4x
{quote} I'm sorry if I made you misunderstand me. I didn't say "trading is gambling" I said "trading without knowing the direction is gambling" without direction it would be guessing 50/50 and that's gambling. hope I'm more clear this time cheers,
No, no I didn't misunderstand. I was answering Pat's very interesting post. He raised some valid points so I answered him as best I could.
I am neither brave nor stupid...I am just a part time trader
Quoting firsttimer
{quote} next area of interest. {image}
Exactly!

I have one nasty-looking horizontal line setup for it.
Let's see how it goes from there
Quoting Pat Chiko
{quote} I don;'t have patience and very lazy trader. Only spend like 2-3 hours a day looking at chart, sometimes just quick peek for 5 mins. BUT......... a good trader must knows to articulate. Good systems have a "window of opportunity". Understanding when that window shuts is such a hard thing to do, both statistically and emotionally. Only the most advanced, most experienced traders will know when the window has shut or opened. ( I'm just a Newbie) I also think there is a relationship between the robustness of the system, the time period the...
I only can say: THANKS.

I hope that the size of my gratitude will be at the high of the size of your knowlegde and humbleness.

Long life, long health and long wealth, Pat.

Damian.
add short 2193
av.short 2170

Will manage this position from now on, as ADR is already 150 pips mid day...we'll see
COT: The precious data ignored
Quoting Reverso
{quote} Finally someone has said it, and said it well. Everyone i know the first thing came to their mind is to buy a home, but never for a sec they think they are betting that they can reliably pay a big chunk out of their earnings to service the house loan for 35 years. When covid came, lots of these people eat the loss. I refuse to be a slave to loan, to the system overall, if i want to buy the house, i will pay in full, with my trading gains. Being debt free is priceless, the peace of mind. I'm not buying a house yet despite i have the ability...
You never own a car or a house. You end up registring under the goberments name through language trickery. Wait till the whole system Falls down before 2031.
POSTMASTER
Quoting Robinhood1
{quote} You never own a car or a house. You end up registring under the goberments name through language trickery. Wait till the whole system Falls down before 2031.
Even after paying 500K + interest. I cannot stop laughing sorry guys
POSTMASTER
Quoting bilal1947
{quote} Hi DD I wish to see your current template, how far it has developed Best regards bilal
Hi, Bilal

Thanks for your attention.

The day will come. I have learned so much from this forum,
and I want to contribute as same quality as I have been beneficiated.

Best regards, Damian.
Quoting Robinhood1
{quote} You never own a car or a house. You end up registring under the goberments name through language trickery. Wait till the whole system Falls down before 2031.
so we still have at least 8-9 great years ahead... cheers
maybe 1.22 was the target before the big short
Now shorting pound vs CHF, USD, and AUD. Way overextended.
Quoting Indigo45
{quote} so we still have at least 8-9 great years ahead... cheers
WW2 lasted from 1933 yo 1945. It is not a long time for the better. 2019 To 2031
POSTMASTER
Quoting shay14
maybe 1.22 was the target before the big short
dont count on it.. 1.223 or 1.231
so more bulls.

if it will fall before i dont know to tell you what is going on
The market has short memory
Quoting Robinhood1
{quote} WW2 lasted from 1933 yo 1945. It is not a long time for the better. 2019 To 2031
To clarify, Battle was inbetween as part of the war.
POSTMASTER
Sleepy time is here, so I will go to the shower and then to my bed

I hope all you NY traders make lots of pips

See you tomorrow for Uncle Frankie hour.

Indiara
I am neither brave nor stupid...I am just a part time trader
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