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Cable Update (GBPUSD)

  • #810,861
  • Feb 21, 2024 9:58am Feb 21, 2024 9:58am
The faster the USD/JPY breaks 152 the sooner will Japan intervene and we'll get a chance to make big money fast. Interventions impact was around 600 pips on USD/JPY the last two times Japan intervened. Let's hope USD will go up on FOMC today... because it's way to fuc'ing boring these last couple of months.

In reality, if there weren't high impact news on FX, I'd probably never trade, because it would be so boring.
  • #810,862
  • Feb 21, 2024 10:02am Feb 21, 2024 10:02am
super oil doesn't really want to get the fuck down.

happy for my long
sad for my car
90% of traders use TA, indicators and prediction
  • #810,863
  • Feb 21, 2024 10:03am Feb 21, 2024 10:03am
Quoting Zebi
{quote} {quote} lovely hourly dollar close i just closed half and keeping hal had to pay myself for all the agony of reading all the bullshit in this chat LOL
Quoting Zebi
looks like goin up..got a buy signal will look to short before bedtime otherwise will hold to the shorts i got already
im still holding half the shorts i took yesterday at the highs

just placed tp at 2590 on those

ill hold em thru the fed minutes and short more if theres a spike up since they old news from 3 -4 weeks ago and inflation is still chugging along
short trump and go long the deepstate
  • #810,864
  • Feb 21, 2024 10:08am Feb 21, 2024 10:08am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2024-02-21-18-07-26-415_com.tradingview.tradingviewapp-edit.jpg Size: 452 KB
yes yes yes
  • #810,865
  • Feb 21, 2024 10:09am Feb 21, 2024 10:09am
Quoting _BBKing_
Came around to post my trade but in the meantime I read some prev. posts and replied about UJ, the cable already tanked. Been shorting this thing the whole today 2629 + 2626 in the morning cashed for some 20pis and now the 2624 will hold to see if breakes down. {image} Overall I believe price will be able to get up and reach major resistance into 1.27 or even higher but first.... this setup has to be completed reminds me the same setup when price was into 1.26/1.27 range.. {image} Could be wrong, price now in support 1.26 can also rise from here....
ok I get these 10pips.
not really going lower
90% of traders use TA, indicators and prediction
  • #810,866
  • Feb 21, 2024 10:20am Feb 21, 2024 10:20am
Cable became really disturbing and annoying and boring.

Really, gone nowhere in last 3 months.
Will we have back those 80-150 pips days range?!

Looks to me it somehow stabilised in this 50/70 range no matter what. Maybe 80 some days but that's it.
90% of traders use TA, indicators and prediction
  • #810,867
  • Feb 21, 2024 10:21am Feb 21, 2024 10:21am
Quoting Whatevs
The faster the USD/JPY breaks 152 the sooner will Japan intervene and we'll get a chance to make big money fast. Interventions impact was around 600 pips on USD/JPY the last two times Japan intervened. Let's hope USD will go up on FOMC today... because it's way to fuc'ing boring these last couple of months. In reality, if there weren't high impact news on FX, I'd probably never trade, because it would be so boring.
dont get mixed up in conventional wisdom and lose your money

i made a case that japan and most of the rest of the world including usa sold dollars to save englands ass in sept 2022...japan didnt intervene to save itself but liz truss and the pound

yen is going up to 158 i think before japan does anything

Quoting Zebi
{quote} i wouldnt count on a BOJ intervention just yet..im gona post a longterm monthly chart outlining why in TA but first..... fundamentally which i try not to use but some do ill so ill just say japan intervened three times in a month ..... on sept 22nd they were part of that coordinated effort to save GU then a month later on oct 21st and 24th they did it again..probably in another coordinated effort to save GU after truss resigned the dollar is over that sept 22nd limit and going to break the october ones when i look at a longterm monthly chart...

i said alot of shit about truss and japan in september so look at that chart and if it interests you you can search and read the posts from back then
short trump and go long the deepstate
  • #810,868
  • Feb 21, 2024 10:25am Feb 21, 2024 10:25am
ok that's it for today
closed also oil long (was better wait btw)
will only leave UJ longs. SL or TP on it.

good luck with the FOMC could move nothing but could also shake the whole market.
90% of traders use TA, indicators and prediction
  • #810,869
  • Feb 21, 2024 10:39am Feb 21, 2024 10:39am
Rand Jumps as South Africa Unveils Plan to Tap Reserves for Debt
https://www.forexfactory.com/news/12...nveils-plan-to

garrick...are you gona buy us all lunch since youre flush with new found wealth all of a sudden
short trump and go long the deepstate
  • #810,870
  • Feb 21, 2024 10:41am Feb 21, 2024 10:41am
What are my chances of wanting pound & gold
average dude treading water
  • #810,871
  • Feb 21, 2024 10:50am Feb 21, 2024 10:50am
Quoting Zebi
{quote} dont get mixed up in conventional wisdom and lose your money i made a case that japan and most of the rest of the world including usa sold dollars to save englands ass in sept 2022...japan didnt intervene to save itself but liz truss and the pound yen is going up to 158 i think before japan does anything {quote} i said alot of shit about truss and japan in september so look at that chart and if it interests you you can search and read the posts from back then
If you believe USD/JPY will reach 158, then let's do the following...

EUR/JPY at around 170
GBP/JPY at around 197
AUD/JPY at around 102
NZD/JPY at around 97
CAD/JPY at around 116,17
CHF/JPY at around 176,77,78.

If you believe that USD/JPY will reach 158, then the best trades you can take now is to short JPY against every major currency. That would amount to around 4000 pips of profit.

I don't know where USD/JPY exchange rate will end up, but as soon as it hits the high at 152 I'll prepare myself with sell stop orders. Last time people were also talking about USD/JPY reaching 155, 160, 165, but it never got there and instead fell to 127 from 152. Now, my understanding is that exchange rate of USD/JPY above 150 hurts Japan financially and if that is the case, then why would they intervene at 158? We know interventions' impact is around 600 pips, so if Japan would intervene at 158 that would lower the exchange rate to the high now at 152, however that is well above 150 which obviously isn't good for Japan, otherwise they wouldn't threaten us with interventions as soon as USD/JPY broke 150.

While I do believe JPY has more room to fall against other major currencies, I don't expect it to last forever. I'd expect a break above 152 and answer from Japan not long after that happens. If I'm wrong, then so be it... If I'm wrong nothing will occur anyway, because sell stop orders won't be touched.

Thanks, though! I do remember some people were saying it was because of UK. However, there were two interventions on JPY pairs, not just one. One at 145 and another few pips below 152.
  • #810,872
  • Feb 21, 2024 10:52am Feb 21, 2024 10:52am
Quoting Moty
{image}
PLEASE tell me your chart suggests gold is going down
average dude treading water
  • #810,873
  • Feb 21, 2024 10:53am Feb 21, 2024 10:53am
Quoting MIKKI
What are my chances of wanting pound & gold
My observation would suggest slim, because if GBP/USD er is going up, then Gold tends to move in exactly the same direction. Of course, because of the USD. However, when it's USD specific news, then GBP/USD and Gold follow each other, if it's Pound or Gold specific news and has nothing to do with USD, then GBP/USD can go up and Gold down.

If you're talking about FOMC today, then I'd say chances of GBP/USD going up and Gold down is highly unprobable.
  • #810,874
  • Feb 21, 2024 10:53am Feb 21, 2024 10:53am
Quoting Zebi
Rand Jumps as South Africa Unveils Plan to Tap Reserves for Debt https://www.forexfactory.com/news/12...nveils-plan-to garrick...are you gona buy us all lunch since youre flush with new found wealth all of a sudden
Is the rand tradable cause of volatility?
average dude treading water
  • #810,875
  • Feb 21, 2024 10:55am Feb 21, 2024 10:55am
Quoting _BBKing_
Cable became really disturbing and annoying and boring. Really, gone nowhere in last 3 months. Will we have back those 80-150 pips days range?! Looks to me it somehow stabilised in this 50/70 range no matter what. Maybe 80 some days but that's it.
Ridiculous how slow it is... imagine trading EUR/USD instead... even worse haha.
  • #810,876
  • Feb 21, 2024 10:57am Feb 21, 2024 10:57am
Quoting MIKKI
What are my chances of wanting pound & gold
You want pound to go up and gold to go down? Bruhh that's hard

I think it's only possible if United Kingdom found a trillion dollar Gold reserve
You have to have an IQ higher than 90 to interact with this user.
  • #810,877
  • Feb 21, 2024 10:57am Feb 21, 2024 10:57am
Quoting Whatevs
{quote} My observation would suggest slim, because if GBP/USD er is going up, then Gold tends to move in exactly the same direction. Of course, because of the USD. However, when it's USD specific news, then GBP/USD and Gold follow each other, if it's Pound or Gold specific news and has nothing to do with USD, then GBP/USD can go up and Gold down. If you're talking about FOMC today, then I'd say chances of GBP/USD going up and Gold down is highly unprobable.
so do you think GBP/USD will go down and GOLD up?
  • #810,878
  • Edited 11:09am Feb 21, 2024 10:57am | Edited 11:09am
Quoting Whatevs
{quote} If you believe USD/JPY will reach 158, then let's do the following... EUR/JPY at around 170 GBP/JPY at around 197 AUD/JPY at around 102 NZD/JPY at around 97 CAD/JPY at around 116,17 CHF/JPY at around 176,77,78. If you believe that USD/JPY will reach 158, then the best trades you can take now is to short JPY against every major currency. That would amount to around 4000 pips of profit. I don't know where USD/JPY exchange rate will end up, but as soon as it hits the high at 152 I'll prepare myself with sell stop orders. Last time people were...

youre missing the point...BOJ intervened with other countries to save the british pound...if your not aware of that fiasco read up on it...just google liz truss dumb ass

did you even look at the monthly chart in my quote?

whoevers telling you 150 hurts japan is full of shit...just look at that monthly chart

all japan and suzuki are trying to do is talk down the dollar...they wont be able to save the yen by themselves and i dont think powell or the market is supportive cause some old fook over there wants his sushi to be a few pennies cheaper
short trump and go long the deepstate
  • #810,879
  • Feb 21, 2024 11:00am Feb 21, 2024 11:00am
Quoting Nordling
{quote} You want pound to go up and gold to go down? Bruhh that's hard I think it's only possible if United Kingdom found a trillion dollar Gold reserve
hmmmm
average dude treading water
  • #810,880
  • Feb 21, 2024 11:02am Feb 21, 2024 11:02am
Quoting Sheepy3015
{quote} so do you think GBP/USD will go down and GOLD up?
Haha no.. because FOMC is USD specific news or whatever you want to call it. If GBP/USD would go up on FOMC today, then Gold would too in 95% of the times.
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