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Cable Update (GBPUSD)

  • #405,341
  • Nov 18, 2014 9:39am Nov 18, 2014 9:39am
Quoting giveachance
1.5972 is the target which comes immediately assuming 1.5630 is the bottom. there are 2 things against further downtrend now. 1. GBP is actually quite heavy on shorts and the move has come quite sharply from 1.62 till here. 2. seasonality favours GBP buying
Im with your more on the side of the bids! Im going to bid on something like GBPCHF though not GBPUSD.
All posts are my personal opinion
  • #405,342
  • Nov 18, 2014 9:59am Nov 18, 2014 9:59am
going long here on scalp @ 1.6435 SL1.56235
  • #405,343
  • Nov 18, 2014 10:22am Nov 18, 2014 10:22am
Quoting Rtm
Say aye if you think GBP is pricing in the dovish monetary policy implications and negative growth forecast. Watch tomorrow will say something bearish and GBP will rally!
I would not be surprised.

Also, I don't know that FOMC minutes will necessarily stoke the USD rally. They (FOMC) seemed to be angered by recent interventions to cheapen relative currencies. I don't think they'll be consciously accommodating other central banks' intentions. This may help to explain USD's recent relative weakness (comparing it to itself). Right now, I don't see USD as a buy this week (probably the only one, but I don't care)
  • #405,344
  • Nov 18, 2014 10:27am Nov 18, 2014 10:27am
Quoting Didgeridoo
{quote} I would not be surprised. Also, I don't know that FOMC minutes will necessarily stoke the USD rally. They (FOMC) seemed to be angered by recent interventions to cheapen relative currencies. I don't think they'll be consciously accommodating other central banks' intentions. This may help to explain USD's recent relative weakness (comparing it to itself). Right now, I don't see USD as a buy this week (probably the only one, but I don't care)
Agree 100% I just think CHF is a great opportunity because we know Swiss bank will defend EURCHF floor so GBP makes sense as a proxy as we have technical and fundamental clear picture lined up. Less risky than EURCHF IMO
All posts are my personal opinion
  • #405,345
  • Nov 18, 2014 10:44am Nov 18, 2014 10:44am
Quoting Rtm
{quote} Agree 100% I just think CHF is a great opportunity because we know Swiss bank will defend EURCHF floor so GBP makes sense as a proxy as we have technical and fundamental clear picture lined up. Less risky than EURCHF IMO
True. Very well-reasoned logic.

With EUR/CHF, there's been talk that the Nov 30th 'SNB Gold Asset Vote' may affect this floor, if they are forced to hold more gold reserves. But, as you suggest, the SNB have successfully defended for years. That weekly chart is almost alien-like.
  • #405,346
  • Nov 18, 2014 10:48am Nov 18, 2014 10:48am
Quoting Didgeridoo
{quote} True. Very well-reasoned logic. With EUR/CHF, there's been talk that the Nov 30th 'SNB Gold Asset Vote' may affect this floor, if they are forced to hold more gold reserves. But, as you suggest, the SNB have successfully defended for years. That weekly chart is almost alien-like.
I guess that could be why CHF so strong today! People pricing in the gold vote! Seems like it is the strongest on the meter today..
All posts are my personal opinion
  • #405,347
  • Edited 11:15am Nov 18, 2014 10:59am | Edited 11:15am
Quoting Rtm
{quote} I guess that could be why CHF so strong today! People pricing in the gold vote! Seems like it is the strongest on the meter today..
Could be. Yeah, very very strong today. May be some risk aversion also (?)
  • #405,348
  • Nov 18, 2014 11:01am Nov 18, 2014 11:01am
hopefully cable setting at 1500-14xx range
  • #405,349
  • Nov 18, 2014 11:15am Nov 18, 2014 11:15am
Quoting thegmann
going long here on scalp @ 1.6435 SL1.56235
out +11 pips.
  • #405,350
  • Nov 18, 2014 11:57am Nov 18, 2014 11:57am
Quoting timos
{quote} How do you know that?
the chart is saying it
"W. D. Gann said that time is the most important factor among all things."
  • #405,351
  • Nov 18, 2014 12:39pm Nov 18, 2014 12:39pm
Quoting USDollar
{quote} the chart is saying it
Where exactly?
All i see is downtrend and red candles
http://prntscr.com/57p5jx
  • #405,352
  • Nov 18, 2014 12:57pm Nov 18, 2014 12:57pm
Quoting thegmann
{quote} out +11 pips.
long again 1.5635
long set as well GBPCHF at 1.49747 see if this bottom can hold very tight s/l on both trades.
see if this peg can help hold CHF at bay.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Image1.png Size: 47 KB
Click to Enlarge Name: Image2.png Size: 36 KB
  • #405,353
  • Nov 18, 2014 2:14pm Nov 18, 2014 2:14pm
Quoting timos
{quote} Where exactly? All i see is downtrend and red candles http://prntscr.com/57p5jx
Always use your head....and charts..
  • #405,354
  • Nov 18, 2014 2:22pm Nov 18, 2014 2:22pm
Quoting timos
{quote} Where exactly? All i see is downtrend and red candles http://prntscr.com/57p5jx
Pound hit the green arch of support..... time will tell
"W. D. Gann said that time is the most important factor among all things."
  • #405,355
  • Nov 18, 2014 2:24pm Nov 18, 2014 2:24pm
Quoting USDollar
{quote} Pound hit the green arch of support..... time will tell
My upside target is 1.6300 by next year
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 11-18-14.png Size: 200 KB
"W. D. Gann said that time is the most important factor among all things."
  • #405,356
  • Nov 18, 2014 2:34pm Nov 18, 2014 2:34pm
Quoting USDollar
{quote} My upside target is 1.6300 by next year {image}
me likey
All posts are my personal opinion
  • #405,357
  • Nov 18, 2014 2:39pm Nov 18, 2014 2:39pm
GU Next Stop 1.55397
A good trader follows his rules, but great trader knows when to break them
  • #405,358
  • Nov 18, 2014 2:56pm Nov 18, 2014 2:56pm
Quoting ill_be_back
GU Next Stop 1.55397
what is your sl and entry?? where u been bro?... hope you are ok
  • #405,359
  • Nov 18, 2014 2:57pm Nov 18, 2014 2:57pm
[quote=USDollar;7881018]{quote} My upside target is 1.6300 by next year {image}[/quote

15200 is a magnet now. If you mean end of next year we are on the same page
  • #405,360
  • Nov 18, 2014 3:16pm Nov 18, 2014 3:16pm
Quoting poseikwame
{quote} what is your sl and entry?? where u been bro?... hope you are ok
I am LONG EJ

Quoting ill_be_back
{quote} I have EJ Daily close at 146.815, Then Down about 20pips & again UP to 147.226 before London If this goes according to my sequence, You think more UP During London or BIG DOWN
Lets see what happens
A good trader follows his rules, but great trader knows when to break them
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