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Cable Update (GBPUSD)

  • #384,421
  • Jun 30, 2014 10:34am Jun 30, 2014 10:34am
Quoting Davit
{quote} Look man be happy with your bull pips but stop fging posting ridiculous numbers
relax davit. let him enjoy and party. its his day today. bears will have it some day.
  • #384,422
  • Jun 30, 2014 10:35am Jun 30, 2014 10:35am
Quoting JimmyC
GU Monthly multi-year highs... Note a close above 1.7140 opens monthly swing to 1.92 area -bears be cautious - no long term shorts till October I suspect. Next major R is historically 1.74 then 1.782 open large TF and look west PA is following its bullish hx, if I was a bear I would wait for 1.74... {image} Regards, J
Morning Jimmy I agree this is very possible.
Ghost Rider - WWTBMD?
  • #384,423
  • Jun 30, 2014 10:35am Jun 30, 2014 10:35am
Quoting pouyanv
Now , short added down to hellllllllllll
and where is hell???? 1.71. lol. and heaven is 1.78
  • #384,424
  • Jun 30, 2014 10:35am Jun 30, 2014 10:35am
Quoting tomspin
{quote} I will have a go from 1,0600 up to 1,1900(If 1,0600 holds) - yep I said it GL
I am in as well. lets sell the hell out of cad
  • #384,425
  • Jun 30, 2014 10:37am Jun 30, 2014 10:37am
Quoting navk
7060 is previous resistance now will turn as support.
if its that obvious then most likely it wont happen
  • #384,426
  • Jun 30, 2014 10:38am Jun 30, 2014 10:38am
Quoting Davit
{quote} No it does not! Every time price makes new High we got people predicting extremes! (usually with charts pointing to the moon)We don't even have interest rate hike!!!!
Each time an R breaks it opens the targets above it. this varies from TF to TF
On the monthly charts we are severely over-bough without proper consolidation or retrace, that leaves us with levels S/R.

The probability of a rate hike in GBP is higher than in US

Dollar fundamentals change in October as tapering ends this should cap cable at this stage but depends on Carney

We're going through major R after major R, for you and I given our trading styles we can manage this but it is unsafe for the less experienced traders to try short this monster given the trend over the long term.

Any price is possible, the market sets the price. Not crossing swords with you just saying VIX indicates greed has been at or near all time lows for an extended period, no trader should be complacent, risk must be managed but its very dangerous to let anyone gain the impression that price cannot go to any specific level.

There are charts which speak to a global event being due which may upset trends however in the absence of a trend changing event traders must respect the trend and a trend doesn't have an end without an event



Regards,
  • #384,427
  • Jun 30, 2014 10:38am Jun 30, 2014 10:38am
Quoting pouyanv
Now , short added down to hellllllllllll
I'd wait for 1.7124 area........maybe during UK overnight, if not before
  • #384,428
  • Jun 30, 2014 10:38am Jun 30, 2014 10:38am
Quoting cspip
{quote} if its that obvious then most likely it wont happen
??
Intraday only.
  • #384,429
  • Jun 30, 2014 10:39am Jun 30, 2014 10:39am
Quoting Davit
{quote} Are you serious? What is Jimmy to you? Mr crystal ball?
That wasn't my intention,my question was far simple,why October and not another month,i am just asking for his opinion.
  • #384,430
  • Jun 30, 2014 10:40am Jun 30, 2014 10:40am
Quoting JimmyC
{quote} Each time an R breaks it opens the targets above it. this varies from TF to TF On the monthly charts we are severely over-bough without proper consolidation or retrace, that leaves us with levels S/R. The probability of a rate hike in GBP is higher than in US Dollar fundamentals change in October as tapering ends this should cap cable at this stage but depends on Carney We're going through major R after major R, for you and I given our trading styles we can manage this but it is unsafe for the less experienced traders to try short this monster...
The FIB theory is sh.. or what ?

Have you seen retracement for the bulls to reload?
Intraday only.
  • #384,431
  • Jun 30, 2014 10:41am Jun 30, 2014 10:41am
Quoting Davit
{quote} Look man be happy with your bull pips but stop fging posting ridiculous numbers
Peace bro, just an observation from a position point... The market will always be right, besides that last trade was touch an go for target
@ 1.61 myself and KW tried to short to 1.51 and got killed a few times. Hard lesson learnt
  • #384,432
  • Jun 30, 2014 10:44am Jun 30, 2014 10:44am
there is talk in the market that carney is unwinding QE by selling bonds. now who the fuck is going to buy the bonds at high yields????

I remember bernanke started this bullshit last June. initially gbp fell from 1.48 to 1.42 just for it to rise where it is now. so can this move backfire on motherfucker carney
  • #384,433
  • Jun 30, 2014 10:46am Jun 30, 2014 10:46am
Quoting navk
{quote} The FIB theory is sh.. or what ? Have you seen retracement for the bulls to reload?
If you look at PA over the years at different levels you will see partnerships in the PA, its very boring and time consuming but the results are surprising. If you see how certain EU thread traders view partnerships between price extremes you will see that this is an unconventional approach but one certain traders use with success search mofu and you'll see part of this number pairing theory is contained in that space. As with all trading its not the holy grail requires patience discipline consistence and mm.

Good day
  • #384,434
  • Jun 30, 2014 10:46am Jun 30, 2014 10:46am
Quoting giveachance
there is talk in the market that carney is unwinding QE by selling bonds. now who the fuck is going to buy the bonds at high yields????
very good point
  • #384,435
  • Jun 30, 2014 10:51am Jun 30, 2014 10:51am
Quoting Fx3423454
Long triggered off 1H chart @ 1.70320 SL 1.70062 TP 1.70836
TARGET HIT
Trade at your own risk.
  • #384,436
  • Jun 30, 2014 10:52am Jun 30, 2014 10:52am
Quoting albchr
{quote} Morning Jimmy I agree this is very possible.
Hi Chris, its just a tech level but this pair is finding its way north no matter what our techs tell us, I'm wary of a global event though. Taking pain on the equity side especially on indexes, low volatility and sideways up has made it very tough to trade lately, fewer setups and slower progress... bump and grind
  • #384,437
  • Jun 30, 2014 10:56am Jun 30, 2014 10:56am
Quoting giveachance
{quote} and where is hell???? 1.71. lol. and heaven is 1.78
hell is 1.64 IMO. But of course i will set some sl
  • #384,438
  • Jun 30, 2014 10:57am Jun 30, 2014 10:57am
Quoting cspip
{quote} I'd wait for 1.7124 area........maybe during UK overnight, if not before
Don't think it will meet 1.7124 1.71 is a strong resistance, but you can wait though
  • #384,439
  • Jun 30, 2014 11:00am Jun 30, 2014 11:00am
Quoting timos
{quote} Jimmy,do you mind telling us what you expect to happen in October?
Hi Timos

Each time QE has eased to stopping point the market has some sort of tantrum
In theory the end of QE will fire the dollar bulls up with bearish implications for the major crosses. Mrs Yellen has also offered the potential for a rate increase, not a large one but theoretically if money supply decreases ie dollar printing stops then the dollar value should increase. Many market commentators note that this is due by Fall or Oct sometime in that area... but the continual red news prints in the US may cause tapering to stop or be slowed... So the printing machines might go on for longer. This is all theoretical to visual traders but speaks to relief rallies in GU if taper is held or increased but any sudden stop to the taper or early end to the money printing could see cable head south very fast.

So in October I expect the market to become more sensitive to news of taper

lets not forget Carney has acknowledged he must raise rates and even said the market might be surprised by how soon...

Regards
  • #384,440
  • Jun 30, 2014 11:00am Jun 30, 2014 11:00am
Quoting pouyanv
{quote} Don't think it will meet 1.7124 1.71 is a strong resistance, but you can wait though
First 1.7090 then up to 1.7126
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