Cable Update (GBPUSD)

Quoting eurusd_trade

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{quote} No one's projecting it with no correction. But this time the psychological case is particularly strong. There was never a strong psychological case for 110 (it only went to 105 not 108). Plus before the highs in UJ were 103 so the psychological case was for 105. Particularly as UJ approaches 100, GJ having touched 170 already, EJ having touched 140 already, it only makes sense that EU and GU make the 14000 and 17000 handles at some point. With 75-90%+ shorts to long, we could get there sooner than people think with good impending data. If...

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Quoting Citiboy

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we're still using retail trading data as a market sentiment tool?? {image}

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Quoting Citiboy

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Any takers here? Selling 1.673x, put an SL above 1.6753ish? Fundamentally Carney's shifts in foward guidance were dovish, as the next rate hike is now based on a much broader set of vague indicators. There are three major UK releases next week as well. IF these releases do not confirm the BoE's rationale for massively hiking 2014 gdp projections, GBP will trade lower. {image}

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Quoting Davit

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EURUSD trade Sorry to put you on ignore list I just can't read you anymore.

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Quoting Davit

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EURUSD trade Sorry to put you on ignore list I just can't read you anymore.

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Quoting eurusd_trade

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{quote} It's usually not that helpful but when it accumulates beyond a certain extreme threshold at the cusp of a fresh historic or locally historic level it usually has a lot of significance. I've seen this numerous times in the past in UC both on the downside at 0.98 and recently on the upside, in USDCHF on the downside many years ago when it made fresh historic lows, in UJ both on the downside way back at 80 and UJ at the upside last year, etc. The retail positioning all of a sudden blows up to massive quantities right at the edge of making these...

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Quoting Citiboy

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we're still using retail trading data as a market sentiment tool?? {image}

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Quoting Davit

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Price is inside my sell zone. inside 2nd -3rd deviation.My mistake was shorting too early.Lessons learned.Stick to proven method. You can criticize all you want.Its obvious I made errors shorting early.There I am not perfect. {image}

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Quoting Davit

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Price is inside my sell zone. inside 3rd deviation.My mistake was shorting too early.Lessons learned.Stick to proven method. {image}

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Quoting Davit

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Price is inside my sell zone. inside 2nd -3rd deviation.My mistake was shorting too early.Lessons learned.Stick to proven method. You can criticize all you want.Its obvious I made errors shorting early.There I am not perfect. Principle behind my system is based upon theory that price stretched too far from 20MA 2nd-3rd deviation becomes extreme and often price rebounds back to 20MA. {image}

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Quoting eurusd_trade

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{quote} Again, I can write up a BB 20-2 2-3 deviation strategy in Interactive Brokers or MT4 within minutes. For some historical context, GU historically is a major momentum/trending pair. Only recently over the past few years has it turned into this ranging pair. Now it looks like it could start trending again. If it was that easy to make money, I could write up a robot that does exactly this within minutes. Obviously, this isn't reality, and failure to automatically identify trending vs. ranging environments is what will make this system fail....

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Quoting shon9178

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{quote} Hi fx-gtg, can I know how you went short from 1.6736? There will be a number of BOE announcements next week tue/wed. Do you think the numbers will fall short to bring down the GBPUSD price?

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Quoting Citiboy

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{quote} What is the fundamental basis for a move from 1.63 to 1.70?

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Quoting deltaone

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{quote} hi davit, do you have fundamental reasons for your short bias?

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Quoting eurusd_trade

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{quote} Position - Large quantities retail shorts Fundamental threat next week - 3 GBP data points next week including the most important claimant count after last month's extremely strong GBP data. Let's be honest, the reward/risk is totally biased to the upside on these numbers. If the numbers come out good, we're just going to explode higher with stops after all this position accumulation. Whereas if it comes out bad, the out of the money shorts will be in a rush to cover as price drops so the price will fall much less. Psychology - 140/170 EJ/GJ,...

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