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Cable Update (GBP/USD) without Idiots 23 replies

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Cable Update (GBPUSD)

Quoting AVLtrader
Big sell-off imminent? {image}
Yes charts showing it.. Selloff from present level.. Try to trade carefully today
With ZERO % inflation raising rates is oxymoron.
Unless UK wants to go back to recession this is just not smart and same applies to Yellen blubbering about rates.
Lets see China on verge of meltdown,Australia,New Zealand,Canada,Euro zone are in slumbers and logically one might like to ask Carney and Yellen
Who the FK you are going to sell to?If everyone around you is broke and sinking deeper in a hole.
Thanks to Yellen Canadian Economy is going down the drain. Cheap oil shattering steel,manufacturing,oil industry to pieces and replacing with part time Walmart jobs.
Thanks Yellen!!!
This goes even deeper

The green energy movement in America is dead. May it rest in peace. No, a majority of American energy over the next 20 years is not going to come from windmills and solar panels. One important lesson to be learned from the green energy fad’s rapid and expensive demise is that central planning doesn’t work.
What crushed green energy was the boom in shale oil and gas along with the steep decline in the price of fossil fuel that few saw coming just a few years ago.
An International Energy Agency report concedes that green energy is in fast retreat and is getting crushed by “the recent drop in fossil fuel prices.” It finds that the huge price advantage for oil and natural gas means “fossil plants still dominate recent [electric power] capacity additions.”

http://www.washingtontimes.com/news/...d-to/?page=all
Ironically liberal left who elected Obama and Yellen are sourly hurting now.
Not hearing much from LL
In trading, you have to be defensive and aggressive at the same time
Quoting Goldflake
Seriously, i'm not expecting big movement with important data ahead.. Looks like it'll clear 1.58 in coming days but not short!
Since prices are moved by professionnals, we have to understand that professionals sell high and buy low.

Since ~1.56500/1.56750 has been rejected 6 times, we can consider that professionals heavily sold ~1.56500/1.56750 6 times. They are accumulating selling positions in order to make big profits.

Moreover when we have a reduction of volatility, it means we're are approaching higher volatility.... since tuesday volatility is higher, I consider this as the beginning of a big move : we try to break the structure.....
Quoting MaximeCau
Daily structure is not broken yet, but as volatility is higher and higher, we are close to a break. Should be down. {image}
its super thursday today with the rate vote expected to be changed hense why the GBP has gone no where in over a week - buy the pull backs if the vote is changed in favour of raising rates.................

I trade supply demand and fibs, weekly supply was broken in the move up, the chart is bullish as the pullback came very close to weekly demand and since rallied into this area.......Personally I would not short this pair, I am a longer term trader and not a scalper by nature so while 100 pips may be made on the news or lost very easily I would stay away from today and tomorrow if you are a new trader
Quoting AVLtrader
Big sell-off imminent? {image}
nice way of looking at the situation today - so we all Buy yes
Quoting Algorerythmn
{quote} nice way of looking at the situation today - so we all Buy yes
well it works for me, closed my short after holding it over a year

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Quoting iaveight
{quote} its super thursday today with the rate vote expected to be changed hense why the GBP has gone no where in over a week - buy the pull backs if the vote is changed in favour of raising rates................. I trade supply demand and fibs, weekly supply was broken in the move up, the chart is bullish as the pullback came very close to weekly demand and since rallied into this area.......Personally I would not short this pair, I am a longer term trader and not a scalper by nature so while 100 pips may be made on the news or lost very easily.
I would stay away from today and tomorrow if you are a new trader

..
take note very good lesson , regards E
Quoting iaveight
{quote} well it works for me, closed my short after holding it over a year {image}
tempted for the BUY but either way its gonna be a rock n roll day when was the last time there was a 207 forecast vote expected on the rate ;-)
preference seems higher today for a sell tomorrow but hey who knows what plans these muskrats got up their sleeves today
Quoting elbert3
{quote} take note very good lesson , regards E
but then how u gonna learn if u aint in with the big crowd ;-) ouch
Quoting Algorerythmn
{quote} nice way of looking at the situation today - so we all Buy yes
Morning , looks like it is up i closed last night at 5605 and did not buy as it went over, so now we are at that 5636 again, sell or buy that is the question, ???
Quoting Algorerythmn
{quote} but then how u gonna learn if u aint in with the big crowd ;-) ouch
not going to be easy today i am not even trading sl and change today as i think that method could be a lose as whipping may be n the cards unless one has a 100 pip sl, ok at 1 a pip , but not at 21 a pip, ny sl is now on the open,
Quoting elbert3
{quote} not going to be easy today i am not even trading sl and change today as i think that method could be a lose as whipping may be n the cards unless one has a 100 pip sl, ok at 1 a pip , but not at 21 a pip, ny sl is now on the open,
Really cool way of looking at today E - he who dares wins if you know what i mean
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25 ???
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GBP been going up on hype for so long. As if the UK is relevant in any way shape or form. It's a worthless currency and this uptrend on GBP xxx will end badly soon enough. For now though, it's a strong trend.... so we all would be better off buying the dips in gbp xxx. Until of course, this complete charade and utter joke of GBP strength is through.... gl.
Quoting Ck87
GBP been going up on hype for so long. As if the UK is relevant in any way shape or form. It's a worthless currency and this uptrend on GBP xxx will end badly soon enough. For now though, it's a strong trend.... so we all would be better off buying the dips in gbp xxx. Until of course, this complete charade and utter joke of GBP strength is through.... gl.

Fred Astaire said the same about Ginger Rodgers u know oh yes he said As if YOU are relevant in any way shape or form and she replied but darling we are a team there is not one without the other no matter what people think or how well we dance - and there endeth the lesson

Gonna sell this puppy.

Fishng boat gig today so laters comrades.
Quoting Algorerythmn
{quote} Fred Astaire said the same about Ginger Rodgers u know oh yes he said As if YOU are relevant in any way shape or form and she replied but darling we are a team there is not one without the other no matter what people think or how well we dance - and there endeth the lesson Gonna sell this puppy. Fishng boat gig today so laters comrades.
Really no point in selling because they rarely ever let GBP come down. It's against the central banker playbook for years now. Only when the EURO crashed 30% did it come down. Probably better to wait for a big spike to sell, or wait for a big sell to buy. These guys are huge thieves so be careful today.
As far as the larger swing trade goes, Bulls have the advantage. Daily/Weekly closes with proper support.

Current sloppy range still gives the Bulls the advantage as many of you are forecasting the BoE vote to be more in favor of a rate hike.

Daily close above 1.5650-70 will pave the way for 1.59 to 1.6150 targets

I would remain on the sidelines as a Bear for the swing trade until we get a daily close below 1.5570

Today should give some great trades.
Quoting Algorerythmn
{quote} Fred Astaire said the same about Ginger Rodgers u know oh yes he said As if YOU are relevant in any way shape or form and she replied but darling we are a team there is not one without the other no matter what people think or how well we dance - and there endeth the lesson Gonna sell this puppy.

As a trader there is no point IMO saying a currency is worthless especially the GBP, we could say that about the USD, national debt approaching 19 trillion real numbers say its already over 20 trillion. It would be better to say all fiat currency is crap and just not trade As soon as a trader starts looking at currencies as crap they are already biased on a directional move, the downfall of a good trader........... We are chartists nothing more, we trade what we see on the charts, news to me is garbage, while it may move a currency against the trend in the short term that larger trend no matter the news will always take over.

911 - US moved higher weeks after - The Greece problem - did it make lower lows through all that, no it didnt, why because institutional sellers already have orders placed and are currently protecting the lows and profit taking from the highs a year ago, its all supply and demand nothing more in the long term

I am Canadian have been all through the states and now live in the UK, I can show you places in the USA where people are living without power, windows, running water, living in a burnt out shell of a home, I dont see that in the UK and I definitely have never seen that in Canada.
Quoting Ck87
{quote} Really no point in selling because they rarely ever let GBP come down. It's against the central banker playbook for years now. Only when the EURO crashed 30% did it come down. Probably better to wait for a big spike to sell, or wait for a big sell to buy. These guys are huge thieves so be careful today.
wise words my man
Quoting iaveight
{quote} As a trader there is no point IMO saying a currency is worthless especially the GBP, we could say that about the USD, national debt approaching 19 trillion real numbers say its already over 20 trillion. It would be better to say all fiat currency is crap and just not trade I am Canadian have been all through the states and now live in the UK, I can show you places in the USA where people are living without power, windows, running water, living in a burnt out shell of a home, I dont see that in the UK and I definitely have never seen that...
Guess u never been to Bradford then

but great analogy hombre.
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