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Cable Update (GBPUSD)

  • #360,681
  • Jan 24, 2014 3:17pm Jan 24, 2014 3:17pm
Quoting GlobalMacro
{quote} Here we go...You're a genious man




  • #360,682
  • Jan 24, 2014 3:20pm Jan 24, 2014 3:20pm
Quoting deltaone
{quote} hi, i´m deltaone nice weekend to you! see you on monday, GM...
Nice to meet you.
You too, Deltaone
Hear the music before the song is over ...
  • #360,683
  • Jan 24, 2014 3:29pm Jan 24, 2014 3:29pm
Quoting Ken A
{quote}




Was tempted to buy gu here....
but being weekend and all....decided rather roll into weekend...
Hear the music before the song is over ...
  • #360,684
  • Jan 24, 2014 3:31pm Jan 24, 2014 3:31pm
GM I don't know what your talking about multi year highs ,it hasn't moved from consolidation in years and I give blank chart of last few weeks ,
I think this is a much nicer outside candle ,because the previous were looking so bullish,and longer upper wick
but both outside candles should be read in association ,

if price now went on monday and took high then id say this puppy is trending fact is I doubt it very much

outside candles do retrace id expect that ,


Quoting GlobalMacro
{quote} Months ??? Is that the TF we're contending about all this time? How do you handle drawdowns?
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd d1 USD Spot.png Size: 19 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #360,685
  • Jan 24, 2014 3:39pm Jan 24, 2014 3:39pm
Quoting Bones
GM I don't know what your talking about multi year highs ,it hasn't moved from consolidation in years and I give blank chart of last few weeks , I think this is a much nicer outside candle ,because the previous were looking so bullish,and longer upper wick but both outside candles should be read in association , if price now went on monday and took high then id say this puppy is trending fact is I doubt it very much outside candles do retrace id expect that , {quote} {image}
Tony can't post L/T charts right now, will have to switch s/w....will do later, maybe 2moro.

Gotta split....Have a nice weekend, bro.
Hear the music before the song is over ...
  • #360,686
  • Jan 24, 2014 3:39pm Jan 24, 2014 3:39pm
Quoting acidguy
{quote} do you still see GPB go beyond heaven or a little below.
Both,
A little further down, then up for new yearly high...
Come with me if you want to live....
  • #360,687
  • Jan 24, 2014 3:44pm Jan 24, 2014 3:44pm
ok buddy catch you next week ,have a great w/e


Quoting GlobalMacro
{quote} Tony can't post L/T charts right now, will have to switch s/w....will do later, maybe 2moro. Gotta split....Have a nice weekend, bro.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #360,688
  • Jan 24, 2014 3:49pm Jan 24, 2014 3:49pm
Quoting Davit
{quote} No more Ben Yellen the superwomen takes over The prevailing view as Ben Bernanke retires turns the gavel over to Janet Yellen as Chair of the Federal Reserve Board is that the Yellen-led Fed will be a continuation of current policies – Bernanke version 2.0. We disagree. The CME Group feels strongly that during 2014 and 2015 Yellen will put a decidedly different stamp on the Fed: (1) Bernanke and his fear of depression are gone,...
Don't trust a woman with money, my wife taught me that
Come with me if you want to live....
  • #360,689
  • Jan 24, 2014 4:14pm Jan 24, 2014 4:14pm
There is a nice bearish outside bar on GU but doesnt it concern anyone that it is trading into a lot of chop?
All posts are my personal opinion
  • #360,690
  • Jan 24, 2014 5:10pm Jan 24, 2014 5:10pm
what happened today..??

f**ck me the pound dropped HArD today??
  • #360,691
  • Jan 24, 2014 6:02pm Jan 24, 2014 6:02pm
I am bearish on anything vs usd usually but this one looks like it will shoot up again, as EU is looking to go to 1.38+.
  • #360,692
  • Jan 24, 2014 6:41pm Jan 24, 2014 6:41pm
Quoting Davit
{quote} I get the feeling GU bubble is over.We could see lower numbers coming week.All stops cleared now its smack down time.There is no important news release until Feb 3rd PMI
I just checked the calendar and next week is littered with high impact items for this pair

Come with me if you want to live....
  • #360,693
  • Jan 24, 2014 6:48pm Jan 24, 2014 6:48pm
Quoting Ill-b-back
{quote} I just checked the calendar and next week is littered with high impact items for this pair

just 1 UK GDPQ/Q and I am not sure that's high impact jan 28
That's on UK side but on US side sure lots of it.
In trading, you have to be defensive and aggressive at the same time
  • #360,694
  • Jan 24, 2014 7:03pm Jan 24, 2014 7:03pm
Quoting Ill-b-back
{quote} Don't trust a woman with money, my wife taught me that

I think Obama placed the old man to look over her the mighty Fischer
not racist but why is every important post at Feds are held by Jews
In trading, you have to be defensive and aggressive at the same time
  • #360,695
  • Jan 24, 2014 7:04pm Jan 24, 2014 7:04pm
Quoting GlobalMacro
{quote} OK. At least we agree on one thing here. Good first step. Also those wicks you were adamant about......also gone. so now let's talk about consolidation a bit.... Have we been making new multi-year highs in the last weeks or new multi-year lows? You can expand the range up to 2.0000 and it's still consolidation, but for practical trading
Hi gm just had a quick look in after my bottle of vino celbs on the big win,i am in short again i can not beleive the trades i have had over the week, post again on monday, gl billy
  • #360,696
  • Jan 24, 2014 7:21pm Jan 24, 2014 7:21pm
I have been reading and educating myself about the Feds and more I read more pessimistic picture becomes.

Also, the Federal Reserve now owns more or less 10% of the overall U.S. housing market, and the equivalent of 30% of the U.S. federal government debt. There may be some minor benefit to QE, but you can’t look at those figures and not think that such heavy government involvement in the economy doesn’t lead to serious distortions.


Read more: This Former Fed Official Thinks Quantitative Easing Has Been a Disaster | TIME.com http://business.time.com/2013/11/13/...#ixzz2rMvFlm4L

Huszar: QE had two goals, but one of them was originally highlighted as the primary goal by Fed Chairman Ben Bernanke: to make credit more accessible to more Americans. QE aimed to achieve this through lowering the wholesale cost for banks to make loans, and we were actually successful at doing this. For example, my program – which was buying mortgage backed securities – drove down the cost for banks to make mortgage loans. But the banks weren’t fully passing on the benefits to their customers — they were pocketing a lot of the extra profit.In addition, though we lowered the cost for banks to make mortgages, the banks didn’t actually start making more mortgages. If you look at the first day of trading in my program which was in January of 2009, and you look at the last day of trading fifteen months later, the overall amount of U.S. mortgage lending had actually decreased despite the fact that the Fed had spent $1.25 trillion trying to stimulate mortgage lending. In fact, if you look as late as 2012, U.S. mortgage lending was at a fifteen year low. The banks weren’t making more loans. Instead, they were often investing their extra money into securities to take advantage of the rising tide of asset prices in the market.
In trading, you have to be defensive and aggressive at the same time
  • #360,697
  • Jan 24, 2014 8:58pm Jan 24, 2014 8:58pm
Why weren't the banks making more loans?

Were they getting the same or more applications for loans and just turning them down? Or were they getting fewer applications?

The guy doesn't make any sense. First he says they were pocketing the extra money, then he says they were making fewer loans and leads the reader to believe they did this for selfish reasons. Wait. If they were making more money off of loans, why wouldn't they do more loans?
  • #360,698
  • Jan 24, 2014 9:12pm Jan 24, 2014 9:12pm
Quoting Baggi
Wait. If they were making more money off of loans, why wouldn't they do more loans?
After the crisis they learn that giving risky loan can bankrupt them, likewise they became more cautious on their dealings
  • #360,699
  • Jan 24, 2014 9:34pm Jan 24, 2014 9:34pm
Quoting Capelli
{quote} After the crisis they learn that giving risky loan can bankrupt them, likewise they became more cautious on their dealings

also banks figured investing feds cheap money on stocks is lot more lucrative then lending loans.This is why Feds printing money has not had the full desired effect because very little actually trickled down into real economy.
Because so much of this money has been invested on wall street that any tampering sends waves of panic.This was Ben's concern but the interesting fact is market adjusted rather quickly last tampering without major market volatility.
In trading, you have to be defensive and aggressive at the same time
  • #360,700
  • Jan 24, 2014 9:52pm Jan 24, 2014 9:52pm
Quoting Davit
{quote} also banks figured investing feds cheap money on stocks is lot more lucrative then lending loans.This is why Feds printing money has not had the full desired effect because very little actually trickled down into real economy. Because so much of this money has been invested on wall street that any tampering sends waves of panic.This was Ben's concern but the interesting fact is market adjusted rather quickly last tampering without major market volatility.

Very well said.

I just want to add something. What if the level of lending of money that the bank offer was the right level. Prior to the crisis they made too much loan. If the government agencies compare today's banking lending level to pre-crisis, its normal that the bank lend less
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