Glad I went with EU… 47 pips and out for the weekend. Although, I have shorted GU for a quick 15-20? At the new 4h bar (1.5865).
Yep, i’ve shorted at 1.5860, looking for the big dipper now 
Still happily long 
1.5900 is ceiling… Until FOMC… That’s when the fundamental value limits can change.
An important inflating factor for the pound right now is Verizon’s purchase of Vodaphone for $130ish BILLION… This is a long gbpusd in and of itself that needs to occur as $30 BILLION of this transaction is cash (Verizon is US (usd) Vodaphone is UK (gbp)). The majority of movement caused by a cross border aquisition of this magnitude happens within the first ten days following the public announcement… Affects linger for about a month, especially mega deals like this.
Take this giant acquisition out of the equation and we would be sitting around 1.5750… 100 pips lower… Eventually the affects of this will work its way through, chances are Carney will continue trying to talk down market expectations for further rate hikes…
Next week the MPC minutes will be released which has a good chance of weighing on the currency as well… It will probably show easing concerns over the inflation… Which will dampen unrealistically high expectations for a expedited hawkish bias.
Gandolf got smacked down.
It passed.
See… Your fundamentals got beat up by something unexpected.
My technicals are still long.
[QUOTE=“Master Tang;533266”]
Gandolf got smacked down.
It passed.
See… Your fundamentals got beat up by something unexpected.
My technicals are still long.[/QUOTE]
Lol yes… I bet your techs predicted that Summers would remove himself for the fed chairman position haha… This putting the dovish Yellen squarely as Bernanke’s successor.
I did say I wasn’t short pound… Just wasn’t expecting it to go much further…
Gap will be filled by New York open.
Hehe… I must confess to thinking it would top out! I guess its the old case of ‘trade what you see and not what you think’, be you tech or fundi biased. :35:
No, my techs didn’t predict anything other than more upside. How, or why? Who cares. But exuberance over things like this often have the tendency to be extremely shortlived. I have to say that for one, I’m pretty happy he’s stepped out of the picture. That dude is bad news.
As for trading, there will be a sizable gap on open, and I’m entertaining the though of closing my longs down. We’ll see. It’s stretched out pretty good now.
I flipped a coin, it came out heads, apparently that means I should go long. So stuff tech and fundie’s
[QUOTE=“Master Tang;533272”]
I have to say that for one, I’m pretty happy he’s stepped out of the picture. That dude is bad news.
[/QUOTE]
Yes… Someone who supports Dodd-Frank type of over regulations will be soooo much better for the economy rolls eyes
I don’t think that would play out too well on your otherwise very professional looking website! 
LOL, yes yes, very true.
No, I don’t use Fundamentals in all that greater quantity, a simple MA illustrates when the market is strongly trending enough for me. Be at a market crash, or a short burst lasting less than a week. Just finished spending the last few weeks looking at the crash of 2008 and evaluating what impact it had on my trading approach, thankfully it still holds up which is anything but promising.
If you mean someone that doesn’t deregulate things like Glass-Steagall, then yes.
[QUOTE=“Master Tang;533314”]
If you mean someone that doesn’t deregulate things like Glass-Steagall, then yes.[/QUOTE]
If you mean someone whose concept of regulation would be consistent with those wanting to make retail forex much more difficult to trade by non-institutional traders… Then yes we are talking about Yellen.
You just don’t ever quit do you?
I didn’t say I like Yellen either. But Larry is a walking disaster movie. He would be as bad of a choice as someone like Krugman.
Now, can we EVER discuss a topic… ANY topic where you don’t presume to know what I’m thinking?
Because you don’t.
[QUOTE=“Master Tang;533321”]
You just don’t ever quit do you?
I didn’t say I like Yellen either. But Larry is a walking disaster movie. He would be as bad of a choice as someone like Krugman.
Now, can we EVER discuss a topic… ANY topic where you don’t presume to know what I’m thinking?
Because you don’t.[/QUOTE]
I did not presume to know what you were thinking… I was presuming to know which would have made a better chairman… Especially with the perspective of a forex retail trader.
I don’t like Yellen either.
But I don’t like the Bernanke, and Summers should be in jail.
There’s nobody smart that would want the job. The fed is painted into a corner firmly now. They’ve spent all their ammo, and whomever gets the reigns next will likely be the one out a chair when the music stops.
TBTF is now WAY too big to fail. There should have been ramifications for getting bailout money. Like get bailed out, and they have to break up. Instead, thanks to Paulson, the Bernanke, and NoTax Timmy they got bigger.
We are firmly on both feet in no man’s land economically. And Yellen is nothing more than another bankster puppet. This can’t end in well.
[QUOTE=“Master Tang;533334”]
I don’t like Yellen either.
But I don’t like the Bernanke, and Summers should be in jail.
There’s nobody smart that would want the job. The fed is painted into a corner firmly now. They’ve spent all their ammo, and whomever gets the reigns next will likely be the one out a chair when the music stops.
TBTF is now WAY too big to fail. There should have been ramifications for getting bailout money. Like get bailed out, and they have to break up. Instead, thanks to Paulson, the Bernanke, and NoTax Timmy they got bigger.
We are firmly on both feet in no man’s land economically. And Yellen is nothing more than another bankster puppet. This can’t end in well.[/QUOTE]
Agreed as we can even see now… The economic data is slowing just with the CONCEPT of stimulus being removed and rates rising… Once those actually happen, even slow growth may be an optimistic scenario.
Fundamentals… Pshhhhhhhhaw…
Now it gets interesting.
I closed out. May be premature, but I’d rather have the money in the account than watch it vaporize slowly.
[QUOTE=“Master Tang;535634”]
Fundamentals… Pshhhhhhhhaw…
Now it gets interesting.
I closed out. May be premature, but I’d rather have the money in the account than watch it vaporize slowly.[/QUOTE]
lol nice trade.