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Cable Update (GBPUSD)

  • #810,881
  • Feb 21, 2024 11:04am Feb 21, 2024 11:04am
Quoting Whatevs
{quote} 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.
thanks for the reply. do you think the red news at 7:30 will have any affect?
  • #810,882
  • Feb 21, 2024 11:08am Feb 21, 2024 11:08am
will set
SL at b/e 126 just before the meeting minutes. Can’t see much of a change but as we’ve not had a move above 12640 or below 126 maybe something is brewing?
Insane in the Brain..
  • #810,883
  • Feb 21, 2024 11:09am Feb 21, 2024 11:09am
Quoting Zebi
{quote} 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 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...
Okay, I looked at MN chart...

Now, I know my most commonly used pattern is H&S hahahah, but I can't fail but notice this might just be the head in the making on USD/JPY MN chart and it'd end up at 158 or 175, right? If it's proper H&S pattern, then you're actually telling me that USD/JPY will reach 175?

Very well...

*You reminded me of one the articles I read perhaps a year ago that was suggesting USD/JPY would reach 200. I'll find it soon...
  • #810,884
  • Feb 21, 2024 11:10am Feb 21, 2024 11:10am
Quoting Wavegarrick
{quote} As Birdland pointed out. Monthly open at 1.26839 ish very important. It is also a level that has held for the most part of January. Having said, Gu has broken though an important level at 1.2630 and Bulls will want a daily close above to tackle the monthly open. A clear break above the monthly open will put Bulls to the fore. Important times for future GU direction. Trade safe, Cheers. {image}
In light of recent events I have decided that it is better for me to get out of here folks. I have always believed in helping and adding value to the community but it seems not. I have left my TE open for buddies to see. I wish you all well in your trading journey.
Trade well.
Cheers.
Trade to trade another day
  • #810,885
  • Feb 21, 2024 11:12am Feb 21, 2024 11:12am
Quoting Sheepy3015
{quote} thanks for the reply. do you think the red news at 7:30 will have any affect?
Given that we're witnessing a great volatility (LoL) these last couple of days, months, I'd say no. However, market has proven me wrong many times and will highly probably prove me wrong many more times to come.
  • #810,886
  • Feb 21, 2024 11:14am Feb 21, 2024 11:14am
Quoting Wavegarrick
{quote} In light of recent events I have decided that it is better for me to get out of here folks. I have always believed in helping and adding value to the community but it seems not. I have left my TE open for buddies to see. I wish you all well in your trading journey. Trade well. Cheers.
First Klopp and now Garrick? 2024 is getting worse and worse...
You have to have an IQ higher than 90 to interact with this user.
  • #810,887
  • Feb 21, 2024 11:27am Feb 21, 2024 11:27am
Quoting Nordling
{quote} First Klopp and now Garrick? 2024 is getting worse and worse...

you did chase away all his friends...even ferna deserted him and joined the other side

i guess with the rand news he dont want to rub shoulders with us pissants LOL
short trump and go long the deepstate
  • #810,888
  • Edited 11:50am Feb 21, 2024 11:30am | Edited 11:50am
Quoting Zebi
{quote} 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...

Hi. I just wanted to let the thread know what actually happened, not your half-baked conspiracy theories. There was no outside govt policy/concerted effort by any alien central bank, be it the Fed, BOJ or otherwise to ..'save the £..' around the time of the Liz truss thing. On the back of the Truss/Kwarteng mini-budget which the markets hated, mainly because of the unfunded tax cuts etc, (biggest since Barber's 1972 cuts,) on 27th Sept 2022 30yr gilts (Uk Govt bonds) rose from 3% to over 5%, this caused a crisis in the pension markets and on 28th Sept the BOE had to stop selling their own gilts, and buy them in a direct and by historical standards - large intervention to stabilize the pension market. It was this and the scrapping of Truss/Kwartengs' plans and a new Chancellor (Hunt) that stabilized the market and so began a rise in the £ from those $1.03 levels that we saw. Institutional and maybe some central bank buying down @ those levels as part of their normal/standard market operations, (who wouldn't given the discount and changed fundamentals,) made for the rise in the £ and it's 'recovery' as Hunt took over as Chancellor, and so a measure of confidence returned to markets with his plans.
Trader with an Edge.
  • #810,889
  • Feb 21, 2024 11:33am Feb 21, 2024 11:33am
Quoting Headland
{quote} Hi. I just wanted to let the thread know what actually happened, not your half-baked conspiracy theories. There was no outside govt policy/concerted effort by any alien central bank, be it the Fed, BOJ or otherwise to ..'save the £..' around the time of the Liz truss thing. On the back of the Truss/Kwarteng mini-budget which the markets hated, mainly because of the unfunded tax cuts etc, (biggest since Barber's 1972 cuts,) on 27th Sept 2022 30yr gilts (Uk Govt bonds) rose from 3% to over 5%, this caused a crisis in the pension markets and...

so its just coincidence that BOJ just happened to pick that same day to intervene that the liz truss shit hit the fan ?
short trump and go long the deepstate
  • #810,890
  • Feb 21, 2024 11:38am Feb 21, 2024 11:38am
Quoting Zebi
{quote} so its just coincidence that BOJ just happened to pick that same day to intervene that the liz truss shit hit the fan ?
No, it wasn't a coincidence, the BOJ did intervene in markets in Sept 2022, but did not sell Yen, or $, to stabilize the £, they did so for their own reasons (ie to try and stem the rise in it's own currency -versus- the $,) and the reasons I have cited in my post above. You have been telling this thread over a period of time, that the BOJ and Fed did so specifically to save the £. This is not correct.
Trader with an Edge.
  • #810,891
  • Feb 21, 2024 11:39am Feb 21, 2024 11:39am
Quoting Headland
{quote} Hi. I just wanted to let the thread know what actually happened, not your half-baked conspiracy theories. There was no outside govt policy/concerted effort by any alien central bank, be it the Fed, BOJ or otherwise to ..'save the £..' around the time of the Liz truss thing. On the back of the Truss/Kwarteng mini-budget which the markets hated, mainly because of the unfunded tax cuts etc, (biggest since Barber's 1972 cuts,) on 27th Sept 2022 30yr gilts (Uk Govt bonds) rose from 3% to over 5%, this caused a crisis in the pension markets and...
In the words of the late Chopper Read "Never let the facts get in the way of a good story"
  • #810,892
  • Feb 21, 2024 11:47am Feb 21, 2024 11:47am
Quoting PiploEscobar
{quote} In the words of the late Chopper Read "Never let the facts get in the way of a good story"
Hi. Yeh, we live in that type of world, where the facts don't seem to matter anymore. But they are important, and yeh Zebi's stories are a good yarn, even entertaining sometimes, but a lot of what he posts on this subject, expressed in his provocative style, is simply not factual. I have noticed that some folk can post stuff, written in such a way as to suggest it is fact. I'm not just talking about Zebi here, or even this subject. How often do we read for eg a statement like '..Gbpusd will fall to x and then bounce from y...' or some such thing? The less inexperienced amongst us might feel that these posters possess info that is not available to them, and this is not the case. There is a big difference between opinion/prediction etc and fact.
Trader with an Edge.
  • #810,893
  • Feb 21, 2024 11:48am Feb 21, 2024 11:48am
Quoting Headland
{quote} No, it wasn't a coincidence, the BOJ did intervene in markets in Sept 2022, but did not sell Yen, or $, to stabilize the £, they did so for their own reasons (ie to try and stem the rise in it's own currency -versus- the $,) and the reasons I have cited in my post above. You have been telling this thread over a period of time, that the BOJ and Fed did so specifically to save the £. This is not correct.

OK

LOL
short trump and go long the deepstate
  • #810,894
  • Feb 21, 2024 11:51am Feb 21, 2024 11:51am
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yes yes yes
  • #810,895
  • Feb 21, 2024 11:54am Feb 21, 2024 11:54am
Quoting Wavegarrick
{quote} In light of recent events I have decided that it is better for me to get out of here folks. I have always believed in helping and adding value to the community but it seems not. I have left my TE open for buddies to see. I wish you all well in your trading journey. Trade well. Cheers.
what events...

c'mon.. you will be here forever like all of us.
take a deep breath and move on

we all Love ya.
  • #810,896
  • Feb 21, 2024 11:58am Feb 21, 2024 11:58am
Quoting Headland
{quote} Hi. Yeh, we live in that type of world, where the facts don't seem to matter anymore. But they are important, and yeh Zebi's stories are a good yarn, even entertaining sometimes, but a lot of what he posts on this subject, expressed in his provocative style, is simply not factual. I have noticed that some folk can post stuff, written in such a way as to suggest it is fact. I'm not just talking about Zebi here, or even this subject. How often do we read for eg a statement like '..Gbpusd will fall to x and then bounce from y...' or some such...
I couldn't agree more and am pleased to see you bringing some facts to the issue (my flippant comment notwithstanding). Whilst each individual is responsible for their own actions, some people are certainly seduced by posts in this thread and allow it to guide their trade decisions. Your own analysis, in my opinion, is the gold standard. Charts, an explanation of what you see, potential obstacles, some historical context of probability and not a hint of a trade call or even how you're trading it yourself. I respect your knowledge and professionalism in a thread largely littered with rubbish.
  • #810,897
  • Feb 21, 2024 12:19pm Feb 21, 2024 12:19pm
Quoting Wavegarrick
{quote} In light of recent events I have decided that it is better for me to get out of here folks. I have always believed in helping and adding value to the community but it seems not. I have left my TE open for buddies to see. I wish you all well in your trading journey. Trade well. Cheers.
90% of traders use TA, indicators and prediction
  • #810,898
  • Feb 21, 2024 12:27pm Feb 21, 2024 12:27pm
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yes yes yes
  • #810,899
  • Feb 21, 2024 12:42pm Feb 21, 2024 12:42pm
Quoting bilal1947
Who's next {image} {image}
This is one thing I was looking for and another I'll find soon.

(JPY conversation).
  • #810,900
  • Feb 21, 2024 12:48pm Feb 21, 2024 12:48pm
Quoting Coreg2004
{quote} Pat, I won't copy your chart... From not so anonymous source... https://harmonictrader.com/harmonic-...shark-pattern/ {image}
Update just before the ZERO hour...
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Always trade your own plan...I don't provide trading signals.
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