FXexpat <-you
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market is inactive. be back in a while. i hadn't traded in almost 3 weeks. bored as ever. waiting to see if cable is ranging. with bias to short.
BAM BAM BOOM! -bravado
Cable Update - Continued 102 replies
Cable (GBPUSD) vs Euro (EURUSD) 31 replies
Cable Update (GBP/USD) without Idiots 23 replies
Why is GBPUSD called cable? 66 replies
cable short for gbpusd? 6 replies
DislikedI'm not worried...
I just want to understand WHERE IS THIS FREAKING PAIR GOING TO NEXT
From all possible nasty behavior I know in this market, this is definitely the nastiest. A 150 push and the players simply vanishIgnored
DislikedI beg to differ.
FACT - UK will hike rates at least twice if not more in the next 6 to 9 months.
At the present time, it would seem likely that US rates will not be hiked.
What is the point of you scaremongering? Do you consider yourself some sort of forex wunderkind? To listen to you, you seem to be able to see into the near future and it seems that in your opinion technical\fundamental analysis does not count for anything at the moment.
For me, the current trend for Cable FX trading (apart from strange behaviour days like today) is in fact primarily fundamentals based with the need for a keen observation on the technical aspects of the daily trend and associated ranges.
Unfortunately for me, on the advice of others who seem to worship you on this forum I bought and then tried to read your mangled syntax book. Apart from your ability to state the bleeding obvious in an extremely laboured way, I was not impressed and I believe a week reading through the wealth of knowledgeable posts here would be time better spent.
Traders need to look at the market each day and judge their trades on a wide range of market factors. Sweeping trend statements such as yours (my own are always firmly tongue in cheek by the way) do not help anyone.
To make the statement that 1.4 is achievable before 2.03 is a wild, arrogant and most unhelpful observation. If you really believe this to be the case then tell us why you think this will happen. Oh mighty GURU!!!!!!!!!!!Ignored
Disliked1. It seems to me that I have already overlasted in this business most of the traders like you are and I'm going to keep it this way in the future. I bet you will not survive for long in this business if don't change a habit of arguing about opinions.
2. My opinion is legit as yours and only the future will show who was right or wrong. Besides it's not baseless.
3. Cable has been trading in the range between 2.0100 - 1.0350 for the last 26 years and coming back to 1.4000 shoulnd't be out of the ordinary.
4. Interest rates differential might or might not be important. Usually the market does what it is supposed to do regardless of fundamentals. There is always a fundamental explanation comes after the market makes any reasonable technical move. In our case something like another war with Iran may quickly negate all other reasons. It's just an example. If not war it might be something else.
5. Technically Cable looks toppish at the momement. Especially after completing the channel last week. And not just cable but GBP/JPY as well. EUR/USD and USD/CHF also made quite technical extremes just recently. There is a broadening triangle on montly building for the last few years on Cable and this is obviously a reversal formation. I'm expecting a break to occur in 2008-9 and the measured objective target for this pattern just comes to around 1.4000 level.Ignored
DislikedYou see. That wasn't hard hard now was it.
When you put your mind to it you can join up the dots and make sense of your utterences.
2008-9 prediction. WOW - way to go.Ignored
DislikedI'm not worried...
I just want to understand WHERE IS THIS FREAKING PAIR GOING TO NEXT
From all possible nasty behavior I know in this market, this is definitely the nastiest. A 150 push and the players simply vanishIgnored
Disliked4. Interest rates differential might or might not be important. Usually the market does what it is supposed to do regardless of fundamentals*. There is always a fundamental explanation comes after the market makes any reasonable technical move. In our case something like another war with Iran may quickly negate all other reasons. It's just an example. If not war it might be something else.
5. Technically Cable looks toppish at the momement.** Especially after completing the channel last week. And not just cable but GBP/JPY as well. EUR/USD and USD/CHF also made quite technical extremes just recently. There is a broadening triangle on montly building for the last few years on Cable and this is obviously a reversal formation. I'm expecting a break to occur in 2008-9 and the measured objective target for this pattern just comes to around 1.4000 level.Ignored
DislikedI pay some attention to fibs and pivots but prefer trading what I see. I like following the trend and paying relevant attention to the important fundamentals.
Having read your posts with interest I note that you place some store by the $ index and carry trade implications. I am not qualified to assess the affects these may have had today, but I suspect they contributed in some way. Today was strange, a non news day which in my mind over reacted in an almost perverse way. i.e. against all indicated trends and contra to a melange of unimportant positive and negative Cable news. However, facts are facts and BOE will raise rates and Fed won't. Therefore, short to medium term for this pair in my opinion is long. The immediate trend is harder to read. Logic tells me long, yet uncertainty amongst experienced guys like you makes me nervous. Therefore, I think I'll wait until next week to assess the situation.Ignored
DislikedNothing like some hours at the supermarket... Beer's on the ice...
Today I was caught by surprise and for the first time I didn't let panic drive my actions.... The trend is sovereign. Not breaching 9900 is bullish. Not breaching 9800 is bullish. Not breaching 9700 is bullish. But I don't see cable going that far low. If market is in profit taking apetite, so be it. We gotta roll with the punch. I was one of the few (or the only, I don't recall) here calling for 2.0 shortly and more of that, that 2.0 will become daily business for us here, instead of a distant, unreachable dream. It came in days, rather than weeks as I thought.
And I tell you more, BOE raising 0.25% is consensus and 0.5% is said to be more likely than no-hike riight now, although most consider that 0.5% will be split in two. Cable is trading 2.0200 sooner than we think here... There is no major sistemic crisis driving this move.
Should Cable not retrace today's move, 9800 is on the cards for tomorrow, and that will be it.
I'm a bottom fisher all the way to hell if I have to.Ignored
Disliked* I BEG YOUR FREAKING PARDON? Regardless of fundamentals? REGARDLESS OF FUNDAMENTALS???? So what? King is going to issue an order for BOE to DUMP POUNDS because of technical B.S on the MT4 in HIS LAPTOP?
** I BEG YOUR FREAKING PARDON? Cable toppish? CABLE TOPPISH? Then entire freaking Earth is printing lifetime highs agains the dollar for weeks!!!
One corrective day with 150 pips on Cable, Euro barely below 1.36 (SUPER HIGH LEVEL), USD-index still trying to "stay away from the light" while in life-support and MAJOR MASSIVE HUUUUGEEEE reversal is called HERE? What? next GB CPI is coming -4%? May NFP coming 500K? China will start playing by the rules in June?
I'm back posting here when this thread gets back to reason... I've made up my mind and have my scenarios to go along with. Good luck hereIgnored
DislikedRight !! Retrace today only to the first fib line barely which gives higher probability of more down swing coming !!!
Come on cesar... this can't be too much surprise to you... I even put my chart up this morning... we're going for the second fib line !!!Ignored
Quoting cesarncDislikedI'm a bottom fisher all the way to hell if I have to.Ignored