Gbp/usd

[torero]

Yep, when it goes, it sure goes with a bang. Amazing, same time last year when all hell breaks loose just like last December when it neared the 20-year high. Let´s see if it delivers more movements before xmas for more presents on the trees, hee hee.

[Anna-Maria]

	Quote:	milliard
	Lick your paws well Senor Krantz, coz the cream quickly sours This is still (just) a jobbers market Annie Oakley & nervous money is clearly exposed. Whatever you do kids, honor the trend……………but which one

Ha ha, yeah ok I hear (& concede) your claxon horns re: the 4 hour lower tops.

But this 0450, high line of the previous range tunnel will still dictate play on this one for now.

It's still a decent demand zone. Granted, they're making a bit of a song & dance of it, but we'll buy it & you can sell it further up just don't think we'll buy it this morning

I will admit though - Geppy 228.20 dances to your tune!

ps: Hi torero, nice to see you're still walking the board.

[milliard]

2.0450-60 is a safe house for now. One or two of these appear very tired at their respective levels. Maybe they require a laden plate of Thanksgiving turkey & some light relief.

Save a whole pile of well seasoned turkey for the Dollar Index at 76.0

Raise a glass to Mr Plod (GBPCHF). Long term/short term look at this stubborn ceiling at 2970.

Retailers buying up to the line by any chance?

Look at the lows on each visit people.

Buy to the ceiling.................o r sell the ceiling?!

[Anna-Maria]

	Quote:	milliard
	Long term/short term look at this stubborn ceiling at 2970. Retailers buying up to the line by any chance? Buy to the ceiling.................o r sell the ceiling?!

I think you'll find their recent buying to the line is on the back of Friday's Daily & 60m hammer (pinocchio?) combination.

Clearance thru 2970 & that 60pip tunnel up to 2.3030 on your short timeframe chart will rubber stamp the hammers.

I still think I'd rather do battle with the Ozzzie, especially .8770-9070 AUDUSD & above/below the 100.0 AUDJPY. Much more gentlemanly & polite behaviour across there.

Leave the black eye thumping & shirt pulling to the Cable ruffians.

[torero]

Hi guys,

Now that you're all here, I'd like to some nicknames cleared so I can follow your conversation if you don't mind. I know Cable and Geppy, but are there other pairs out there with nicknames and can you please provide them for future references? Us newbies don't hang out the vets long enough to get the lingo (unless they're meant to be codenames for something).

As for the CHF, I always wonder why people trade it since it's such a stable currency. What is the best pair related to CHF to trade? At the moment USDCHF and CHFJPY on my charts but not others. Thanks.

As for Cable, I don't see any opps this morning or last few days since it's been ranging. Only USDCHF looks appetizing. Any thoughts?

[milliard]

Dollar/Swiss is a pretty cool market sentiment guage v/s the $US. Watch it carefully when/if the buck decides to go on a run. If USDCHF fails to kick on (in other words, it merely pops around it's range), the buck won’t run very far.

As to why folks trade it? It’s a funding currency torero. Take a look at the int rate chart below. The 2 you mention in your post are favored pairs to run alongside the Swiss for sure. Essentially it’s a safe haven currency & when risk aversion rears it’s head, some roads lead to the Swiss!

We’re playing most of these pairs & crosses via the shorter timeframes at present. If you pull up a weekly or daily (& 240m) chart of the Australasian pairs, you’ll see why the shorter term bias.

Most of the longer range bets on the popular Pound & Euro instruments are well protected. Traders are merely buying more on dips to their appropriate book percentages. If they’re not, then the aggressive players/fast money crew are definitely playing the Pound via the shorter term (aggressive) models. Hit & run opp's off the hourly s&r lines.

Similar crib sheet on the Yen crosses to be honest. There’s fast money to be made so far this quarter, & the s&r lines I’ve shown on a couple of the pairs continue to be honored.

The Euro’s near term economics makes a strong argument for continued upside, which in my view has a lot to do with the Dollar Index scraping 75.0/76.0.

If the big dogs can base out at their respective supports, then all is good. And there will be decent opportunities for 2 way trade going into years end.

Keep your radar primed to maximum intensity

[Anna-Maria]

	Quote:	torero
	Hi guys, Now that you're all here, I'd like to some nicknames cleared so I can follow your conversation if you don't mind. As for Cable, I don't see any opps this morning or last few days since it's been ranging. Any thoughts?

I think you got the main nickname offenders torero. Apart from those two & maybe loonie (CAD) the rest are self explanatory.

Agree re; Cable. Art bought it Friday via the fast frames off this support-demand zone & I believe he's still holding some of it, but it's flagging & really needs to bust the lower high level at 2.0600 before I'll get excited.

Sure, buy & holding it inside this previous 2.0250-2.0450 demand tunnel isn't going to hurt you, especially if you believe the greenback is in for more pain.

There are better opportunities out there for stressless profits than hunting Cable around these tricky levels in my book, but each to their own.

As ever, good luck & good trading.

[milliard]

	Quote:	Anna-Maria
	I think you'll find their recent buying to the line is on the back of Friday's Daily & 60m hammer (pinocchio?) combination.

Looks like the wooden puppets got washed out then on yesterday's shift back off resistance............... .........again!

Hammers are all good & well, but they still require back up.

[torero]

Thanks for the excellent analysis, guys. I haven't touched Cable this morning despite the burst but scalp shorted the loonie (ha ha, funny nickname) since it's was broke the near term support. Other than that, nothing doing.

I'm watchin USDCHF dropping and I see the buck is moving quite nicely, thanks for the tip! I'll keep that in mind.

[Anna-Maria]

	Quote:	torero
	I haven't touched Cable this morning despite the burst but scalp shorted the loonie.

Good luck with your CAD punt t.

Strong pound today. If you didn't/couldn't spot an in via the Cable, keep the eyes primed on Pound-Yen.

That pair carry a positive intraday range around with it, & Andre (milliard) posted up these s&r lines last week: 225.50-228.20.

Worth keeping on your watch log as & when it circles these interest zones. Similar on EURJPY.

They virtually always offer clear leg in's thru the lines/zones, as well as nailed on exits & pares off the next level up/down such as this mornings action.

Obviously depends on your small frame triggers etc, but I'm sure you'll have something in your tool-kit to pick the lock