Cable Update (GBPUSD)

I love my country - its great

As a trader I have to look at facts

How can there be an (even informal ) negotiation as long as there is no fact to discuss ... this would be just like ...oh let's see if we can get a better deal when we stay (and just change our mind when we are offered a real good deal now) or if it will be better to leave ... it would feel for the rest of the EU like being blackmailed ... I really do not think this will work ...

JPY always straightens in times of uncertainty

You always get one after the event - telling everyone how it is .. but when its going down real time they are no where to be seen .. lol

I've most certainly learned that while posting here.

brexit from euro 2016?

Nice post! I liked it

USDCAD

Thanks!!!

lol brexit from euro 2016!

Hey all, here are my current thoughts on GBP/USD:

One thing we know for fact about Sterling is this: it's bearish. Yeah, no kidding captain obvious. But what now?

Well, for starters... the move feels a bit stretched in the short-term. Yes, the pair managed to make a lower low through the post-referendum low. But still... there comes a time when ever big move needs to take a breather before the next leg.

That time could be now (it could also not be now).

But if we operate under the assumption, and prepare ourselves for the potential, that this move does need to take a breathe. Well, then where do we look to short from? Crazy as it seems, I think we need to look at the weekly to get a good idea:



For me, 1.3500 is an amazing looking level to look for shorts. We have three things working for us there:

1) The downtrend channel I've drawn... testing this previous support line as resistance seems logical. If we do that, we'd be looking at testing it right around the 1.3500 mark.

2) The lows from January 2009 come in right at this level (yes... 2009!). That's the magenta line I've drawn here (and really why I zoomed out to the weekly).

3) If we draw a fib retracement of this most recent move down, the 23.6% fib level comes in at almost exactly 1.3500

That's a lot of technical forces at work coming together at the 1.3500 level. So for me, that's the one to watch. A ballsy trader might try scalping longs up to near that level. A patient trader will simply wait and prepare. So that's where I'm looking to either sell GBP/USD or help supplement an entry for GBP/JPY shorts.

2 leaders gone who will be the third ? Corbyn ? Or my site manager ?

gb exit in the words of Muhammad Ali . Gb shook up the world

Well today was a good day all around. #scalping

People forget that the World is changing. Brexit will make GBP a YEN like instrument. The dragon will get longer. Britian is like Norway.... They have enough resources to live from what they have and make money in manipulating it up and down.

"just tell them they might be screwed because: a pig f**ker called for a vote, a bus had some bulls**t written on it and then two idiots named nigel and boris quoted president bill pullman"

https://mobile.twitter.com/BuzzFeedU...437120/photo/1

I think the above link was a good one

lol check this one out:

At this time the cards are back with the dealer he will shuffle them then deal out the next hand . Some might think they have the better hand and some will fold as we have seen , the player with the balls to bluff or think they have the better hand will win the money or game ? Who will be the better player .? So if your in the game make sure you have the upper hand or you have enough money to force the other players to let you win ?

There is literally no support that I can see on my MT4 chart since price has never gotten this low before. I wonder how the market determines a support level when there are no historical prices. Fibo extension?