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Cable Update (GBPUSD)

  • #381,681
  • Jun 12, 2014 5:11pm Jun 12, 2014 5:11pm
Quoting card
Lol, still plenty of bears. Looks like it's going to be very profitable to be long this. Lots of stops that are going to be taken out. If Carney says they will raise rates sooner than expected and we only have a 100 pip rally why would anyone think of shorting this? Sadly, I got out from G/J on the rally (with a decent profit) before reading the news. I was scarred by the whipsawing the past couple of days. I guess I should go fish my balls out of my gf's purse.
Soon could be instead of 12months like 6months
In FX 6 months is huge time frame even 3 months.In the meantime once euphoria subsides usual corrections will follow down 68
If you want to buy wait for retrace.
In trading, you have to be defensive and aggressive at the same time
  • #381,682
  • Jun 12, 2014 5:13pm Jun 12, 2014 5:13pm
Quoting ffleo
{quote} I doubt that is going to happen. Unless euro goes higher than 1.4, cable wont make wonders.
I agree with you
1.70 GU is too much out of sink with EU at 35.50-36
Not saying 1.70 won't be reached but going higher without actual rate hike yet is not high probability.
In trading, you have to be defensive and aggressive at the same time
  • #381,683
  • Jun 12, 2014 5:44pm Jun 12, 2014 5:44pm
Wow with 1.7 just 30+ pips away and given the usual volatility of the cable, that shouldn't take too long with just slightest of the stimulus, a good retails number, a higher housing number (after all Carney is raising interest rate to cool down the overheated housing market but of course that would just make the houses to be even more unaffordable for the locals because we all know it's the rich foreigners who are buying and driving up the housing market when they don't even live in those houses that they buy and they all pay cash; it's the poor locals who have to rely on mortgages to buy a roof over their head), a strong employment number. It doesn't even need to be the actual rate rise.
Make your losses in demo. Earn your profits live.
  • #381,684
  • Jun 12, 2014 5:50pm Jun 12, 2014 5:50pm
Quoting Davit
{quote} I agree with you 1.70 GU is too much out of sink with EU at 35.50-36 Not saying 1.70 won't be reached but going higher without actual rate hike yet is not high probability.

I agree alot. There's no actual interest rate hike that happened. the 150 pips surge is unreasonable for words. It beats the "actual rate hike" of NZD. I don't believe that they will hike rates with this overpriced exchange rates.
  • #381,685
  • Jun 12, 2014 6:10pm Jun 12, 2014 6:10pm
I think, that it will fall..seems to me, that cable dont like this high

But so much people in sell.. :/
  • #381,686
  • Jun 12, 2014 6:23pm Jun 12, 2014 6:23pm
may be true in London ,but generally I dont think its outside money driving price, fact is theres not enough housing ,and the goverment are stimulating market
British people have an obsession to owning property ,as a good investment ,me included
But I suspect the new borrowing rules will have an effect all on thier own,in time
intrest rates really wont have to rise much to put a lot of people in trouble,



Quoting Forexia
Wow with 1.7 just 30+ pips away and given the usual volatility of the cable, that shouldn't take too long with just slightest of the stimulus, a good retails number, a higher housing number (after all Carney is raising interest rate to cool down the overheated housing market but of course that would just make the houses to be even more unaffordable for the locals because we all know it's the rich foreigners who are buying and driving up the housing market when they don't even live in those houses that they buy and they all pay cash; it's the poor...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #381,687
  • Jun 12, 2014 6:49pm Jun 12, 2014 6:49pm
1.6972
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #381,688
  • Jun 12, 2014 7:09pm Jun 12, 2014 7:09pm
Quoting Davit
{quote} I agree with you 1.70 GU is too much out of sink with EU at 35.50-36 Not saying 1.70 won't be reached but going higher without actual rate hike yet is not high probability.
1.7040 or even 1.71 may be touched but it will not stay above 1.7040. UK100 equities will not make all new high, instead it is ready to drop. Cable may lead the drop, hence cable will drop earlier than their equities UK100.

Attached Image (click to enlarge)
Click to Enlarge Name: cable-uk100- id81_258.png Size: 137 KB
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #381,689
  • Jun 12, 2014 7:16pm Jun 12, 2014 7:16pm
Quoting Davit
{quote} Soon could be instead of 12months like 6months In FX 6 months is huge time frame even 3 months.In the meantime once euphoria subsides usual corrections will follow down 68 If you want to buy wait for retrace.
The key is "once the euphoria subsides" which could be 500 pips away or even 1000 pips away. I will be shorting this at some point. It's just not going to happen today. If global equities start dropping 2-3% per day, we could see a rush to the dollar safe haven.
  • #381,690
  • Jun 12, 2014 7:19pm Jun 12, 2014 7:19pm
Quoting Bones
may be true in London ,but generally I dont think its outside money driving price, fact is theres not enough housing ,and the goverment are stimulating market British people have an obsession to owning property ,as a good investment ,me included But I suspect the new borrowing rules will have an effect all on thier own,in time intrest rates really wont have to rise much to put a lot of people in trouble, {quote}
Borrowing rules and higher rates are not very effective at containing bubbles. I suspect that prices will go even higher. Unless rates rise all over the world, there is little Carney can do to rein in the property bubble. Either way, it doesn't matter to me. There's money to be made on either side.
  • #381,691
  • Jun 12, 2014 7:22pm Jun 12, 2014 7:22pm
I massively shorted slightly above 1.69 ... . We'll see how that goes. Since it's Friday the 13th and I'm a contrarian, it just might be my lucky day ... . Or not.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #381,692
  • Jun 12, 2014 7:24pm Jun 12, 2014 7:24pm
Inklings of weakness ... . Piercing the RSI 70 line on the 30M.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #381,693
  • Jun 12, 2014 7:30pm Jun 12, 2014 7:30pm
it must be japanese funds that like fibos so much.

205.8 = square root of (1.618 x 2.618).

Attached Image (click to enlarge)
Click to Enlarge Name: cable-fibs - id81_259.png Size: 19 KB
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #381,694
  • Jun 12, 2014 7:56pm Jun 12, 2014 7:56pm
Quoting Forexia
{quote} And you said those speeches are meaningless. My demo position made 100+ pips today. If only that was my real position.
nice one -- of ur new to this ur learning ur lessons nicely rule number make ur own decisons and stick by em as listening to fools seriously deplenish your account
  • #381,695
  • Jun 12, 2014 8:13pm Jun 12, 2014 8:13pm
Hmmmmmm... to short or not to short

That is the question
  • #381,696
  • Jun 12, 2014 8:43pm Jun 12, 2014 8:43pm
What does Carney mean by rate rise "sooner than market expects"?
By looking at this GU and it meteoric rise from 1.48, it looks to me like "the market" expected it months ago.

It's Bollocks as they say....
Come with me if you want to live....
  • #381,697
  • Jun 12, 2014 8:43pm Jun 12, 2014 8:43pm
Quoting musani
1hr done yesterday 4hr done today daily not yet. Target daily = 1.6895
Now Daily done
Attached Image
GELORE
  • #381,698
  • Jun 12, 2014 8:43pm Jun 12, 2014 8:43pm
Quoting Fadadio
Hmmmmmm... to short or not to short That is the question
I'm waiting to see where we finish this week...
Come with me if you want to live....
  • #381,699
  • Jun 12, 2014 8:46pm Jun 12, 2014 8:46pm
Quoting Bones
starting to enjoy these random number calls {quote}

dude, its all random...
Look Sharp/Trade Tight
  • #381,700
  • Jun 12, 2014 8:56pm Jun 12, 2014 8:56pm
Yo GBP/US

Ye ha

Just closed longs,went again an bang up it goes

Now will it keep going

Any ideas
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