Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#353,901
Nov 21, 2013 2:38pm Nov 21, 2013 2:38pm

Baggi
| Joined Sep 2013 | Status: Trader | 786 Posts

Quoting JimmyC

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{quote} Good Idea, http://uk.reuters.com/article/2013/1...99H00I20131018 I missed this (I'm closed +2) My bad, didn't check Reuters feed prior to opening position.... Learn learn learn Bank of England's Dale says 2014 rate rise very unlikely LONDON (Reuters) - The Bank of England is very unlikely to raise interest rates next year as it wants to see a period of sustained growth first, its chief economist Spencer Dale said on Friday. "I think it's very unlikely that we will raise Bank rate in 2014. We need to see sustained...

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For the US, there has been a lot of talk about the Taper. But we don't seem to talk much about the bank rate. I take it raising the bank rate means raising interest rates?

Because eventually the Fed is going to start raising interest rates as well.

#353,902
Nov 21, 2013 2:40pm Nov 21, 2013 2:40pm

Baggi
| Joined Sep 2013 | Status: Trader | 786 Posts

Quoting GlobalMacro

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Rolling all over 1.6178 is almost a done deal the way things look as of right now... What remains to be seen is how stops are lined up above there that will tell the story about how fast or not the break will move levels... For now enjoy sustained orderly smooth market action....the way it has to be all the time but isn't...

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I read a news story here, on this website, a few weeks ago, that one of the big investment companies (I forget which), said they were short GBPUSD and that they would short again at 1.6250 (give or take). That's when I started going long on this pair because I figure they expected it to reach that number.

Which makes it scary holding onto this pair when that area is reached.

#353,903
Nov 21, 2013 2:46pm Nov 21, 2013 2:46pm

Baggi
| Joined Sep 2013 | Status: Trader | 786 Posts

I found this from October 10th

Quote

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JPM runs short GBP/USD from 1.6110, with a target at 1.5150, and a stop at 1.6400.

But that's not the story I was looking for. Maybe this is what I'm thinking of:

http://www.efxnews.com/story/21434/c...rink-jp-morgan

Quote

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In line with this view, JPM maintains a short GBP/USD position from 1.6110, with a target at 1.5150, and a stop at 1.6400. JPM plans to add to this short on a further spike into 1.6300.

#353,904
Nov 21, 2013 2:51pm Nov 21, 2013 2:51pm

ffleo
| Membership Revoked | Joined May 2013 | 7,946 Posts

Quoting Baggi

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I found this from October 10th {quote} But that's not the story I was looking for. Maybe this is what I'm thinking of: http://www.efxnews.com/story/21434/c...rink-jp-morgan {quote}

Ignored

JPM can win or lose. Even themselves are not sure if they would win or lose.

ignore wackos and psychos, including myself. But I can't add myself to iggy

#353,905
Nov 21, 2013 2:52pm Nov 21, 2013 2:52pm

GlobalMacro
Joined Mar 2008 | Status: Taking Care Of Business | 5,587 Posts

Quoting Baggi

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{quote} I read a news story here, on this website, a few weeks ago, that one of the big investment companies (I forget which), said they were short GBPUSD and that they would short again at 1.6250 (give or take). That's when I started going long on this pair because I figure they expected it to reach that number. Which makes it scary holding onto this pair when that area is reached.

Ignored

Anybody saying they'll double down their losing position is not to be taken seriously, so there really isn't a reason for you to be scared of that level.
Big institutions such as that may break down their orders and spread them out like that and when push comes to shove they double down because they know they can count on CBs to bail them out but that's not the case for the regular trader.

Hear the music before the song is over ...

#353,906
Nov 21, 2013 2:53pm Nov 21, 2013 2:53pm

PipTrapper
Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts

Quoting deltaone

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http://www.youtube.com/watch?v=ea7POA68MbY

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Those who say it cannot be done should not interrupt those who are doing it

#353,907
Nov 21, 2013 2:58pm Nov 21, 2013 2:58pm

stevefx
Joined Jun 2009 | Status: Trader | 1,946 Posts

Quoting fontu

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{quote} Gu in favor & action for bull set up at a top though & so anybody logically can be long but as at a top can be a crush level may come if bull fail any time , temporary , in a correction to actually bull try last for the last leg up before a greater correction again next.So both bull & bear both have the same risk immediately in doing action & join at any level. me only scalping down at this position & pa reacting perfectly here too , one last leg up before the correction or so, further crazy extension up continue,whatever!

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My thoughts correspond to your H4 chart. Maybe an exhaustion pattern building there.. Just a possibility.

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#353,908
Nov 21, 2013 2:59pm Nov 21, 2013 2:59pm

nAVIN2007
Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts

Quoting PipTrapper

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{quote} Perhaps it is because those people lost also and they want everyone else to suffer with them. I guess misery loves company. {image}

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exactly

#353,909
Nov 21, 2013 3:05pm Nov 21, 2013 3:05pm

ffleo
| Membership Revoked | Joined May 2013 | 7,946 Posts

Quoting stevefx

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{quote} My thoughts correspond to your H4 chart. Maybe an exhaustion pattern building there.. Just a possibility. {image}

Ignored

technically speaking the following pattern mostly ends up in a drop.

Attached Image (click to enlarge)