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Cable Update (GBPUSD)

  • #442,281
  • Oct 3, 2016 4:52pm Oct 3, 2016 4:52pm
Quoting el_duende
All new large moves retraced 61.8%. I should add however I ignore any retraces of 38% in a move as invalid.
That makes more sense (to me at least).
Thanks
Come with me if you want to live....
  • #442,282
  • Oct 3, 2016 5:33pm Oct 3, 2016 5:33pm
Pity the GBP USD was unable to keep up,. for whatever reason...
Now you have to look like the pair will behave.
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  • #442,283
  • Oct 3, 2016 5:45pm Oct 3, 2016 5:45pm
Time to Buy this pair. It is oversold, there was decent news for the Cable and there are two scenarios for tomorrows USD News: Either the smart money is expecting another leg down on this pair, in which case they will raise the price to get better short entries: #2 The anticipation is slightly negative US news in which case the pair will rise anyway. Either option works for a long right now...
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“The most valuable commodity I know of is information”
  • #442,284
  • Oct 3, 2016 6:01pm Oct 3, 2016 6:01pm
Quoting dean1star
{quote} UK PMI data was good earlier so this could be an up into ASIA and then UK takes it back tomorrow on price action following this low. A possible scenario of course if your long that is. 129 zone might just confirm a poss return to 130 zone. Prior to NFP 130 might sit well on price before NFP All probabilities of course. Nothing ever guaranteed esp with this pair.
Hey Dean I wanted to send you a PM attempting to reply to your PM but it says your messages are restricted so couldn't...
Don't Leave Money on the Table
  • #442,285
  • Oct 3, 2016 6:59pm Oct 3, 2016 6:59pm
still "lovely h4"?
  • #442,286
  • Oct 3, 2016 7:32pm Oct 3, 2016 7:32pm
Quoting KeenPips
The cable is largely undervalued and has been so in a long while. So a reversal is in the offing. The issue is we don't know when. We'll have to trade what we see. KP
Well if Cable does bounce from these regions I guess it has to be the 6th July Post Brexit Low of 1.2790.....below there it's a new ball game....As of writing Cable has just hit a new low for the day of 1.28156 now with a small bounce to 2825
Don't Leave Money on the Table
  • #442,287
  • Oct 3, 2016 7:36pm Oct 3, 2016 7:36pm
RBA rate decision in 55 minutes and we should see some market movement...

Market analyst are predicting rates to stay on hold at a record low of 1.5%.....historically this rate level is rediculously low but any attempt to raise rates to normal levels by the RBA will see the Aussie Dollar skyrocket and hurt Australian manufacturers, Farmers and other sectors dependent on exporting to the rest of the world....
Even at the current rate the Aussie is a bit high and RBA would like to see it below 70 US cents.....
Don't Leave Money on the Table
  • #442,288
  • Oct 3, 2016 8:01pm Oct 3, 2016 8:01pm
Quoting HaLBot
{quote} Well if Cable does bounce from these regions I guess it has to be the 6th July Post Brexit Low of 1.2790.....below there it's a new ball game....As of writing Cable has just hit a new low for the day of 1.28156 now with a small bounce to 2825
Worst daily close since 1985 - bottom pickers be ware.

I'm with you - short the shit out of it below 1.2790. 161.8 ext at 1.2385
  • #442,289
  • Oct 3, 2016 9:03pm Oct 3, 2016 9:03pm
spent couple minutes help you out since your not bother going any further ,in simplicity after looking I do have a clue which I pass on in team spirit with a copy and paste

How did UK end up voting to leave the European Union?

Polling suggests discontent with the scale of migration to the UK has been the biggest factor pushing Britons to vote out, with the contest turning into a referendum on whether people are happy to accept free movement in return for free trade.
Public unease has been fuelled by a failure to prevent immigration from piling pressure on jobs markets and public services, and a refusal by politicians to acknowledge the sheer numbers of Europeans making new homes in the UK after the EUs expansion east in 2004 and 2007

Elite and aloof
The other force that welled up during the campaign was a wholehearted distaste for the thing that Brussels had become in the 40 years since Britain last voted in a referendum on its place in Europe.

https://www.theguardian.com/politics...european-union


Quoting dean1star
{quote} The point of fact of how much that you do not understand or can even contemplate on this vast subject matter, as a conjective opinion or even a subjective comparison greatly outways your ambition to being heard as informative but is instead overshadowed by your in-experience in this matter. In simplicity you really do not have a clue.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #442,290
  • Oct 3, 2016 9:22pm Oct 3, 2016 9:22pm
Quoting Bones
spent couple minutes help you out since your not bother going any further ,in simplicity after looking I do have a clue which I pass on in team spirit How did UK end up voting to leave the European Union? Polling suggests discontent with the scale of migration to the UK has been the biggest factor pushing Britons to vote out, with the contest turning into a referendum on whether people are happy to accept free movement in return for...
The bleeding hearts of the world just say we should have unabated immigration from all these war zones across the world and to criticise this you are labelled a racist or bigot or both and much more. Seems like the bleeding hearts of the world are Nazi-like in their tactics......funny about that, more Nazi than Nazis

Why are all these nations in conflict? Because of their Social, political, scientific and religious institutions...
Why is the west free from wars? Because of our social, political, scientific and religious institutions...

Importing your population from these conflict zones will lead to problems because one they always want to tell you how much better they are than you even though they come from a shitty country and two because they know no better than the conflict they have had to endure for generations....and will continue to endure for the said social, political, scientific and religious institutions....

I await the abuse from the Nazi bleeding heart brigade......LOL
Don't Leave Money on the Table
  • #442,291
  • Edited 10:55pm Oct 3, 2016 9:51pm | Edited 10:55pm
I would agree theres a potential cultural issue ,also Germany has made a mistake
are people beelining to Britain because they love the British ?or maybe our weather

there is more complex issue's that do not have an answer's just yet if thats what Deans talking about
but I wasn't talking about these ,he's right I don't ,and very few have a clue of the outcome
logically id argue free trade is just as good if not better for EU
but theres no way of saying how logical this will turn out

maybe EU is more idealist than logical ,with no change self preservation on its mind

http://www.telegraph.co.uk/opinion/2...igration-isla/

Quoting HaLBot
{quote} The bleeding hearts of the world just say we should have unabated immigration from all these war zones across the world and to criticise this you are labelled a racist or bigot or both and much more. Seems like the bleeding hearts of the world are Nazi-like in their tactics......funny about that, more Nazi than Nazis Why are all these nations in conflict? Because of their Social, political, scientific and religious institutions... Why is the west free from wars? Because of our social, political, scientific and religious institutions... Importing...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #442,292
  • Oct 3, 2016 9:59pm Oct 3, 2016 9:59pm
Quoting Bones
I would agree theres a potential cultural issue ,also Germany has made a mistake are people coming to Britain because they love the British ? there is a more complex issue that dose not have an answer just yet if thats what Deans talking about ,it has no answer logically id argue free trade is just as good if not better for EU but theres no way of saying how logical this will turn out http://www.telegraph.co.uk/opinion/2...igration-isla/ {quote}
Yeah I'm not sure about that issue Dean and you are discussing but I will say this:

It seems that the rest of the world does not understand that Britain has a native people. Whereas you go around the world and were told that these are the native peolple of that country and have a god given right to that patch of land.

Well i'm telling you Britain has a native people and they have a god given right to that patch of land.....and I am one of those natives of Britain but my parents immigrated to Australia but I feel a strong connection to Britain and I might return......god help you all if I do....LOL
Don't Leave Money on the Table
  • #442,293
  • Edited 10:23pm Oct 3, 2016 10:02pm | Edited 10:23pm
Quoting HaLBot
{quote} Yeah I'm not sure about that issue Dean and you are discussing but I will say this: It seems that the rest of the world does not understand that Britain has a native people. Whereas you go around the world and were told that these are the native peolple of that country and have a god given right to that patch of land. Well i'm telling you Britain has a native people and they have a god given right to that patch of land.....and I am one of those natives of Britain but my parents immigrated to Australia but I feel a strong connection to Britain...

Anyway that's enough ranting for one day now on to trading.....

http://orders.forexlive.com/!/cable-...earby-20161004
Don't Leave Money on the Table
  • #442,294
  • Oct 3, 2016 10:33pm Oct 3, 2016 10:33pm
gap which is a pain ,mucks up candles ,candle not great generally space like this
bottom of range
rhetoric V numbers which haven't been bad on back of devaluation
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #442,295
  • Oct 3, 2016 10:40pm Oct 3, 2016 10:40pm
Quoting USD-charts
{quote} You seem to have an excellent broker
Checkout IG.com
Striving for consistency
  • #442,296
  • Oct 3, 2016 10:52pm Oct 3, 2016 10:52pm
Quoting Wdfx
{quote} Stopped out at BE 1.2850. Considering going back long at 2825... Watching for a while
The way I'm trading this pair at present is with a long bias. However due to the political implications and uncertainty surrounding brexit, sentiment and direction can change very quickly and a spike could occur or direction could change very quickly. My long order at 2825 triggered over night currently sitting approximately +20pips. I have moved my stop to BE and may be out again before any significant move. I will not have lost anything though and if I am out I will review and probably go back in.
Striving for consistency
  • #442,297
  • Oct 3, 2016 10:57pm Oct 3, 2016 10:57pm
Quoting Wdfx
{quote} The way I'm trading this pair at present is with a long bias. However due to the political implications and uncertainty surrounding brexit, sentiment and direction can change very quickly and a spike could occur or direction could change very quickly. My long order at 2825 triggered over night currently sitting approximately +20pips. I have moved my stop to BE and may be out again before any significant move. I will not have lost anything though and if I am out I will review and probably go back in.
What's your TP as there is resistance at 2860??? But so close to that figure I would see if Euro/UK session doesn't push it passed there.

But if looking weak at 2860 then cash it out....just an idea plus remember what Tom Dante said "better to take 20 pips than leave it on the table" or something like that..I left a few hundred dollars on the table yesterday.....Bleh, still made a profit but could have been a lot better....
Don't Leave Money on the Table
  • #442,298
  • Oct 3, 2016 11:09pm Oct 3, 2016 11:09pm
Quoting HaLBot
{quote} What's your TP as there is resistance at 2860??? But so close to that figure I would see if Euro/UK session doesn't push it passed there. But if looking weak at 2860 then cash it out....just an idea plus remember what Tom Dante said "better to take 20 pips than leave it on the table" or something like that..I left a few hundred dollars on the table yesterday.....Bleh, still made a profit but could have been a lot better....
Couldn't agree more. It is my intention to trail my stop by 20 pips. First target is yesterdays high around 2860 but expecting at least 2878 then perhaps as high as 2930 or above. Here's hoping it works. on the other hand if the market dictates a drop below 2800 I will change my strategy and follow it down.
Striving for consistency
  • #442,299
  • Oct 3, 2016 11:10pm Oct 3, 2016 11:10pm
I've got a but stop on Gbp/Jpy as well @ 131.40 targetting 131.90

Due to dollar strength in market at the moment...
Don't Leave Money on the Table
  • #442,300
  • Oct 3, 2016 11:15pm Oct 3, 2016 11:15pm
Quoting HaLBot
I've got a but stop on Gbp/Jpy as well @ 131.40 targetting 131.90 Due to dollar strength in market at the moment...
I'm short on the AUDUSD, went in a bit early yesterday at 7650, hopefully I will recover that position
Striving for consistency
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