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Cable Update (GBPUSD)

  • #364,421
  • Feb 18, 2014 5:06am Feb 18, 2014 5:06am
Quoting cheater
{quote} agree on that 674x to watch for, will close all my heavy shorts if it ever breaches that level. As of now, bull are still in control in longer TF unless 6500 is breached
Yes, it is absolutely a legitimate fall on the cable no matter fundamental or technical. It just lets me feel that both EU and GU wanna pullback together between gap. Now both of them are facing the same serious moment on 1.374x and 1.674x now. Once closed gap, what will happen now? I don't know, but larger TF shows it will be crazy BULL. Just creative and silly opinion.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #364,422
  • Feb 18, 2014 5:06am Feb 18, 2014 5:06am
let's play a game,buy metill the bottom
With a good book and quality paper you can fine wipe your ass.
  • #364,423
  • Feb 18, 2014 5:08am Feb 18, 2014 5:08am
Quoting kimisiow83
{quote} Yes, it is absolutely a legitimate fall on the cable no matter fundamental or technical. It just lets me feel that both EU and GU wanna pullback together between gap. Now both of them are facing the same serious moment on 1.374x and 1.674x now. Once closed gap, what will happen now? I don't know, but larger TF shows it will be crazy BULL. Just creative and silly opinion.

creative yes!
But silly not at all my friend
  • #364,424
  • Feb 18, 2014 5:10am Feb 18, 2014 5:10am
I am shorting again 6700. Looks bearish SL 6750 TP 6550
  • #364,425
  • Feb 18, 2014 5:13am Feb 18, 2014 5:13am
Quoting Citiboy
You have to ask yourself. Why is Sterling at these levels? Why are markets pricing in rate hikes for early 2015? Why is Citi calling for a Winter 2014 rate hike? Why did the BoE hike their 2014 GDP forecast from 2.8% to 3.4%? Look at the data. Someone isnt right. Employment tomorrow and retail sales Wednesday will determine. http://www.ft.com/intl/cms/s/0/2d549...#axzz2tUiTdDS5 {image}
The BOE have been told what is in the March budget.

Where the government will continue to try and buy the coming election.
  • #364,426
  • Feb 18, 2014 5:13am Feb 18, 2014 5:13am
Quoting stormtrader
{quote} creative yes! But silly not at all my friend
Thanks. Actually I am also confuse now which is stronger between EUR and GBP. EUR/GBP 1H break and pullback, but 4H seems declining. If as 4H, it might be GBP stronger than EUR but EUR are on ahead. Hard to tell which will have head start.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #364,427
  • Feb 18, 2014 5:16am Feb 18, 2014 5:16am
more short...4h.. candlestick shold be go from blue to red..
Attached Image (click to enlarge)
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  • #364,428
  • Feb 18, 2014 5:17am Feb 18, 2014 5:17am
Quoting kimisiow83
{quote} Thanks. Actually I am also confuse now which is stronger between EUR and GBP. EUR/GBP 1H break and pullback, but 4H seems declining. If as 4H, it might be GBP stronger than EUR but EUR are on ahead. Hard to tell which will have head start.
EUR has breakout on last candle close in 30M chart, so high possibilities EUR will have the head start now.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #364,429
  • Feb 18, 2014 5:18am Feb 18, 2014 5:18am
Quoting kimisiow83
{quote} Thanks. Actually I am also confuse now which is stronger between EUR and GBP. EUR/GBP 1H break and pullback, but 4H seems declining. If as 4H, it might be GBP stronger than EUR but EUR are on ahead. Hard to tell which will have head start.
Both equal but USD and JPY another story
  • #364,430
  • Feb 18, 2014 5:19am Feb 18, 2014 5:19am
Quoting kimisiow83
{quote} Thanks. Actually I am also confuse now which is stronger between EUR and GBP. EUR/GBP 1H break and pullback, but 4H seems declining. If as 4H, it might be GBP stronger than EUR but EUR are on ahead. Hard to tell which will have head start.
technically, its hard to tell at this moment which way it will go, fundamentally, i'll be banging the bucks on GBP
  • #364,431
  • Feb 18, 2014 5:24am Feb 18, 2014 5:24am
Quoting cheater
{quote} technically, its hard to tell at this moment which way it will go, fundamentally, i'll be banging the bucks on GBP
Yup, technically hard to tell. Fundamentally don't know because I don't believe in fundamental and I am pure technical trader.

Good Luck
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #364,432
  • Feb 18, 2014 5:25am Feb 18, 2014 5:25am
Quoting Nitsan_Levi
more short...4h.. candlestick shold be go from blue to red.. {image}
6709 is the target for me tp and short same time sl has to be 6738 big rr sell of nice and fast to 6625 tp
  • #364,433
  • Feb 18, 2014 5:27am Feb 18, 2014 5:27am
Quoting Ken A
{quote} Both equal but USD and JPY another story
Yes. I try to get more read on USD/CHF and it is already in the breaking zone as I mentioned to mate earlier it is too weak to hold this support. So I will believe soon EUR/USD will gain enough strength to break 1.374x and rose higher.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #364,434
  • Feb 18, 2014 5:30am Feb 18, 2014 5:30am
Quoting elbert3
{quote} 6709 is the target for me tp and short same time sl has to be 6738 big rr sell of nice and fast to 6625 tp
nice catch of 50 green there
  • #364,435
  • Feb 18, 2014 5:30am Feb 18, 2014 5:30am
Quoting Citiboy
You have to ask yourself. Why is Sterling at these levels? Why are markets pricing in rate hikes for early 2015? Why is Citi calling for a Winter 2014 rate hike? Why did the BoE hike their 2014 GDP forecast from 2.8% to 3.4%? Look at the data. Someone isnt right. Employment tomorrow and retail sales Wednesday will determine. http://www.ft.com/intl/cms/s/0/2d549...#axzz2tUiTdDS5 {image}
What are you trying to say?
You think inflation/growth outlook expected by the market is implying rate hikes too soon?
  • #364,436
  • Feb 18, 2014 5:30am Feb 18, 2014 5:30am
small-sell 705 sl 739 tp 250+
With a good book and quality paper you can fine wipe your ass.
  • #364,437
  • Feb 18, 2014 5:30am Feb 18, 2014 5:30am
Quoting kimisiow83
{quote} Yes. I try to get more read on USD/CHF and it is already in the breaking zone as I mentioned to mate earlier it is too weak to hold this support. So I will believe soon EUR/USD will gain enough strength to break 1.374x and rose higher.
EUR/USD almost equal to CHF/USD not ideal for comparison

Historically G/U can't be far from E/U
  • #364,438
  • Feb 18, 2014 5:35am Feb 18, 2014 5:35am
Quoting Citiboy
You have to ask yourself. Why is Sterling at these levels? Why are markets pricing in rate hikes for early 2015? Why is Citi calling for a Winter 2014 rate hike? Why did the BoE hike their 2014 GDP forecast from 2.8% to 3.4%? Look at the data. Someone isnt right. Employment tomorrow and retail sales Wednesday will determine. http://www.ft.com/intl/cms/s/0/2d549...#axzz2tUiTdDS5 {image}
longer term, I think the market is pricing in the aggressive QE of the Fed seen neither in UK or Europe.
You can't print trillions in new bills without consequences. Fed projecting longer term record low interest rates well into the future, unless of course we listen to the media instead of the Fed, which many strangely prefer to do.
Ballooning debt, ongoing trade deficits and no end in sight with an unconditional lifting of the debt ceiling now approved.

A nice strong correction down coming I think this month or next though.

The continuing blind spot to the US situation in here is astounding.
but hey, let it continue, should be fun.
Come with me if you want to live....
  • #364,439
  • Feb 18, 2014 5:38am Feb 18, 2014 5:38am
Quoting Ken A
{quote} EUR/USD almost equal to CHF/USD not ideal for comparison Historically G/U can't be far from E/U
Yes, and it is both equal now after a fail on GU just now. But if compare through EUR/USD, GBP/USD, EUR/CHF, GBP/CHF, no BEAR to me. EUR/CHF on support but ranging. GBP/CHF bounce from 200MA earlier. So if putting all together, conclusion to me both of them will gain strength maybe. But probably I will forget this both and take more on the YEN. Easier to interpret there.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #364,440
  • Feb 18, 2014 5:40am Feb 18, 2014 5:40am
I've loaded another short at 1.6698: half of bearish engulfing 4H candle/lower level of previous structure/below RN

Good luck bears!
Be water, my friend
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