Took 15 pips profit. The bears really try to break the support around 1.325, but no luck so far, we may retrace higher.

Cable Update (GBPUSD)

Moved SL to BE. Will likely hit that SL and wait for higher price to sell.

Cable Update (GBPUSD)

We bounced off support, but no real conviction in the PA so far. If we break the support, my guess is we go much lower. Placed a sell stop at 1.327, stop loss 25 pips.

Cable Update (GBPUSD)

I am thinking of opening a new business... Taking bets on the famous JayBag-Georginson fight. Probably would have found a lot of customers with 1/100 line on JayBag yesterday.

Cable Update (GBPUSD)

I guess,my question was, why the swing you can see on m30, does not count as swing 2 (or maybe it does?).

Cable Update (GBPUSD)

Isn't the ~50 pip swing up (from 1.3408 to 1.3456) enough to trap the bulls? Just wanted to understand your thinking.

Cable Update (GBPUSD)

Yes, this is of course the case. Trying to trade the news based on the news themselves is suicidal: when you receive them, market already reacted, either in the instant after the news release, or by positioning in the hours/days before. Still, one ...

Cable Update (GBPUSD)

Well, not a full collapse yet, but it did come with price around 1.348. url

Cable Update (GBPUSD)

Took 43 pips. Maybe should have waited longer (I am very bad with exits, have to learn), but looking at the price action, I guess the big drop is not today. The price reacted close to the technical levels of 1.35 (and 1.2 for EU), but retest is ...

Cable Update (GBPUSD)

I agree, but would add that this goes for the expected news (probably 90% of the news releases): smart money guys know what is coming beforehand and position themselves accordingly. Unexpected news (or ones where outcome was not certain, e.g. ...

Cable Update (GBPUSD)

I took a short at 1.3472, stop 110 pips, tf open. Reasoning: we have probably reached a resistance / take-profit zone, still think 1.35 will be hit, but don't want to miss a drop when it comes. The drop may be a modest one (40-50 pips) or a much ...

Cable Update (GBPUSD)

And by the way, wouldn't it be funny if announcement of trade talks collapse comes when we are at 1.349?

Cable Update (GBPUSD)

I guess there are retailers there, but many banks will have 1.35 as their take-profit. We had similar situation just after elections, everyone knew 1.35 is the target, and still we did not advance much higher. Not saying the history will definitely ...

Cable Update (GBPUSD)

So we continue to rush towards 1.35 (and 1.2 for EU) and just as Brexit talks are collapsing; there may well be a big announcement today, if not, next week. We'll see if this is a coincidence.

Cable Update (GBPUSD)

Ok, this scenario is sort of being played out. Bulls could not (as of yet) push to 1.35, but with help of month-end flows, rallied for 90 pips and almost got to 1.34. Frankfurt just closed, and it is interesting to see whether the move will be faded ...

Cable Update (GBPUSD)

Current UK government in a nutshell.

Cable Update (GBPUSD)

Meanwhile, back in the UK: url Markets ignored Brexit news in the last few months, interesting to see whether they would ignore this one as well. You cannot deny reality forever, and no-deal Brexit is reality.

Cable Update (GBPUSD)

I don't question Fed's intentions, they are pretty clear: Fed and US Treasury are happy to print USD into oblivion. Still, I think another wave of heavy selling is probable, before we push even higher on what they call "infinite QE". Thanks for your ...

Cable Update (GBPUSD)

Yes, I should have said that it was a financial crisis which spilled to general economy. The point I was trying to make is that there is a difference between healthy business/industry in financial distress and business/industry becoming structurally ...

Cable Update (GBPUSD)

I think this coming Monday may be the best chance for the bulls to tackle 1.35 quickly. Monday is bank holiday in the UK, so we can expect low volumes between Asian and US sessions, which means exaggerated moves. With month-end flows unfavourable to ...

Cable Update (GBPUSD)