Cable Update (GBPUSD)

Good trades, man.
Keep it up

check the weekly chart and you will see a nice retrace for GU... don't forget that this week GU couldn't break 1.666 (last week high) it's time for a corrective wave

you chart tells me it is down.

red hammer following green hammer, both with wick longer than body. I know what i am going to do.

Looked like PA was going for that level again, but stopped just ahead of it ... maybe monday asian session....

monthly I think location is better than shape

Monthly moan ending January 2014


It wasn’t a joint that I was smoking, I’m sure of that.

Sure, I was in the Netherlands last week, a little lost as I looked for a small coffee shop, but adamant that I had not entered into one of those ‘special’ coffee houses that trade with such consistent volume.

Nonetheless, I had to check that I could see the four fingers that I held up before my eyes, and which confirmed that the words in the Bundersbank statement that I was reading in the news, were correct. It didn’t take me much to correlate this to how the Bundesbank now seems to be playing its part in what may gradually transpire to be a well-coordinated series of events that we, the public, will not learn of for at least another ten, maybe even twenty years.

I say this as I have been monitoring the slow progression of soft aggression being perpetrated by the likes of the IMF. I’m sure we can all still remember the recent farce – well, actually, I think it was more of a full-on frontal forewarning – that was the bank-raiding of Cypriot accounts by the European Union authorities, and thus a sign of things to come in this darkening social democracy. And now, we have the powerhouse of Europe explaining that countries about to go bankrupt should draw on the private wealth of their citizens through a one-off capital levy before asking other states for help. Uh oh…

The Bundersbank did not specify if we would all be bailed in to this together – although I suspect that we would be – but it did state that “it is not the purpose of European monetary policy to ensure solvency of national banking systems or governments and it cannot replace necessary economic adjustments or bank balance sheet clean ups.”

Hmm, well, there is some sense in that, but let us not forget that the whole Lisbon Treaty debacle sure does appear dirty when it suits, and regularly renders Articles 122 and 125 ridiculous inclusions, when either can be adopted as a defence for an action if it suits current realpolitik, and in so doing, can cancel the other out.

I’m sure that most of us by now have our suspicions over how large financial institutions will be protected from penury before those that are forced to feed it – us – are, and that this is supported somewhat by the Bundersbank’s recent monthly statement, which explained that a capital levy “corresponds to the principle of national responsibility, according to which tax payers are responsible for their government's obligations before solidarity of other states is required."

Hey!? Now just hang on a minute. Why should I have to pay for the excesses of those that I do not think should represent me? That is, the current batch of groomed clowns for governments, and who enjoy expense extortions and partisan perks that leave the rest of the populations seething with seditious sentiments. Furthermore, was it not the case that the Bundersbank, and by association, GDP strength through exportation of manufactured goods, was suffering under the strength of the Deutsche Mark?

Yeah, I think it was, and so I find it a little galling to read of the high ground of individual responsibility now being preached by Germany, when, not so long ago, the rulers of this nation felt it okay to cut a deal with France that permitted Germany not only reunification, but also access to a fresh market… Jacques Delors, Helmut Kohl, and the rest of them slippery buggers, all in on this deal together. A deal that Germany welcomed, as the imposition of a single currency across other states within Europe, allowed for fancy cars and unbreakable tools to be, apparently, affordable to a continent of shoppers desperate for the dependability of the ‘made in Germany’ distinction, but not quite fully understanding the debt that would accompany this obligation to becoming doped up on brand devotion. Oh, and also delicately-dragooned into accepting all of those other little costs of living that come with being put on currency par with a nation as industrious as Germany, but with a dwindling employment level to pay with.

Well, I suppose we will have to wait to see what guff is puffed out in the near future by that most wonderful of platitude producers – Christine Largarde – and which I think is already being prepared for if her recent comments in Davos are anything to draw inference from. Deflation, old and new risks, wish for Eurozone inflation to increase – do we all get concomitant pay rises to afford this? – and all of the other usual waffle to mask what is, in many an analyst’s opinion, a sustained period of stagflation.

Hey, Chrissy, you ‘godda’ chill baby. Ain’t no need to bum us all out by adding more inflation – officially recognised, that is – to the current stagnation within this wonderful new world of liberalised globalisation. Here, why don’t you come and sit by me and put this pipe in your mouth… yeah, that’s right, suck on it as you enjoy the blow.

start of the fake on 30min one of the traders posted a bearish candle, the long tail candle then bear candle but no follow on
see the reject candle so the traders go short and stopped out. now traders go long and hit the trend line, you can go short here i do but only 5 lots just incase the fake come back short early, you are looking for a long tail rejection candle not a doiji or a inverted hammer, now we have a reject candle but to make sure this is what i can the return fake you wait for the next confirm candle and this is were i short at the top of the confirm candle20 lots and your sl is 7 pips above the previous days high which is a doji the fake will go with the trend so we know the trend is down confirm 1 the 4 hour chart shows me the 10 sma will be resisitance confirm 2, the 200sma is on top, confirm 3, the original start of the fake did not take place on a s or r or trend line.so on the way down i buy 1 more short at the break of the 644 line sell the 20 lots which are big and let the small lots run on untill signal to get out total of 44 pips big lot and 2 more 5 pip lots hope to get 70 pis 1 lot 50 pips 2 lot hope that makes some sense , i posted the fake about 4 hours before to happend, but did not want to post the move as i did not want any trader to copy and it went wrong targets the x lines

Charts and candle patterns are nice for technical analysis, but I will be watching opening Feb candle for XXX/JPY and USD/JPY. All XXX/JPY December candles were almost fully bearish engulfed by January for the reason you know.

Back to G/U, 38.2% 1.6427x level highly possible might break if the selling of GBP/JPY continue in Feb and USD/JPY down move is capped at 102.00 - 101.50. The third and fourth test of this 38.2% might break depends on JPY.

Why do think E/U is seeing sharp down move? JPY is the culprit.

Note: personal opinion has no impacts on PA.

G/U Daily


G/J Daily


U/J Daily

eu also has a bearish weekly

yes completely agree with your analysis bro!!!..

consolidation within a range top..totally seeing the same thing as u..mind u we do have extremely similar trading style
just a bit concerned if 1.62 is gonna hold..if it goes..no doubt the bear is going to slaughter house

with GM's ass on da plate..(just kidding bro hehe)

note:- last week PA failed to spike and hold to the upside..the, open and close below the trend line (see the weekly chart)..da bear has bull in the neck hold attempting the sleeper combo

thing is Nav whilst cable is a bit ugly we don't need gbp to fall imo ,usd will have a bullish time ,

bear nzd
bull usd

higher highs =yes
but how much higher into strong res

be nice to break clean

this hopefully will be the driving force push gbp down

i need the sum bitch to drop..but yes again i completely agree..even if gbp doesnt get weak USD should build
from a technical and also fundamental view point i cannot see cable as a buy..just a question of waiting..lets see

JPY has potential to weaken USD

why ?

hey Bones what is ur view on GBP/NZD