Not all brokers online until Tokyo open and not all brokers force liquidate until Wellington noon. I don't expect too much fireworks here GJ is also still sitting at resistance at 170.50 so for a higher GU we need GJ resistance to break or else UJ ...

Cable Update (GBPUSD)

Well I don't know. He didn't do the trade with the bank I was working for at the time. I assume the Telegraph is a reputable news source. I also assume they are a Barclays client. But after the article came out, EURGBP never looked back to the ...

Cable Update (GBPUSD)

Remember Lord Rothschild's 130mm pound bet in EG against the EUR? That trade completely blew up on him. I wonder if he's still holding it. I believe he is *still* out of the money unless he's stopped out already months ago. Worst trade ever (for a ...

Cable Update (GBPUSD)

The market makers aren't in the business of accumulating infinite position one way. In fact they would prefer to have as little risk as possible. They only accumulate when people trade with them. At these levels shorters are already somewhat running ...

Cable Update (GBPUSD)

Here's my advice. Sell if GU becomes overbought again according to Davit's favorite signal that he blew up on (20BB 2-3 dev lol) on H4 or maybe H1 to try for a possible gap fill of any pre-open gap. If you still have any margin left, that is But ...

Cable Update (GBPUSD)

Bank holidays are perfect opportunities to run stops. Remember the post-Christmas EU and EA run up? I agree not to get hyped up about pre-market vol as typically the gaps get filled eventually but a HIGH open is likely to start the margin calls once ...

Cable Update (GBPUSD)

Stubborn you. So sell 1.5lots at 1.682x and average down if we get no correction until there we'll perhaps see a 50pip correction from roughly there as most of the shorts have already exhausted their margin at 1.665x and 1.670x. Lucky you that ...

Cable Update (GBPUSD)

The FX market is one of the most unregulated in the world and is driven by supply and demand. As I just explained: -The market makers got long from a ton of shorts in 1.6650 who inexplicably failed to stop out or flip after resistance broke -The ...

Cable Update (GBPUSD)

For me the greatest concentration of stops are probably going to come from all the bad positioning at 1.6650, and secondarily at 1.6700. At 50:1 leverage (max offered by FXCM which is still the most popular retail FX broker), you can have around ...

Cable Update (GBPUSD)

I see a possible move to low-mid 1.68 before any 50pip correction is possible. Reason being people are still short from every single level (with a concentration at 1.6650) while even strong conviction longs have been very eager to take profits off ...

Cable Update (GBPUSD)

Shit man... let's go poison the sheep in New Zealand and sell the NZD too... 90 minutes till Carney Personally I can't wait until CBs start hiking, we're 6 years out of the financial crisis, both the domestic and world economy are doing just fine ...

Cable Update (GBPUSD)

I don't agree with this, I'd rather be neutral. Your GU and EU views are similar to what I'm thinking. AU 903x is somewhat no man's land on a variety of TFs, if possible I'd still rather trade from the long side (perhaps at better levels 900x or ...

AUD/USD

smart man.

Cable Update (GBPUSD)

This sounds like something a research desk might publish. Yes, some real money clients buy into it but not so much the big macro movers who are trader types more about charts and stops just like us than investor types who are trying to do more ...

Cable Update (GBPUSD)

Position - Large quantities retail shorts Fundamental threat next week - 3 GBP data points next week including the most important claimant count after last month's extremely strong GBP data. Let's be honest, the reward/risk is totally biased to the ...

Cable Update (GBPUSD)

Again, I can write up a BB 20-2 2-3 deviation strategy in Interactive Brokers or MT4 within minutes. For some historical context, GU historically is a major momentum/trending pair. Only recently over the past few years has it turned into this ...

Cable Update (GBPUSD)

Truth is pain. I'm sorry Davit for your losses. You're a good guy. I hope you have some good trades to make them back I also suggest taking some time off before trading again. Like everyone, I've blown accounts before in years past. While your ...

Cable Update (GBPUSD)

It's usually not that helpful but when it accumulates beyond a certain extreme threshold at the cusp of a fresh historic or locally historic level it usually has a lot of significance. I've seen this numerous times in the past in UC both on the ...

Cable Update (GBPUSD)

Frankly, it's pointless to debate this, this is just my opinion and it's a pretty strong psychological case that you are welcome to try to refute. It isn't a recommendation to enter or exit at a specific level. The reality is the PA is ...

Cable Update (GBPUSD)

No one's projecting it with no correction. But this time the psychological case is particularly strong. There was never a strong psychological case for 110 (it only went to 105 not 108). Plus before the highs in UJ were 103 so the psychological case ...

Cable Update (GBPUSD)