Can someone enlighten me whether this forecasts are a joke. He's been wrong every single time thus far. You could only be this bad if you were trying.
I think you can keep you long cable on. There's more profit to expect on wednesday when the european market reacts to the feds rate cut. I believe that we can see 2.0500 by the end of this week.
pkts, I actually agree with peter, cable has probably got more upside. But I am in the European time zone, need to sleep, and am not sure what the Japanese will do with gbp/jpy when they get to work. If they decide to sell the carry trade after this pop up, then that'll bring down cable as well. So I am getting out, and will maybe buy on a dip somewhere later. But if you stay in, the trend will hopefully be your friend. Good luck
I think he is using the BnB Method (Bullshit n Bear). Anyway, closed and reversed my short (sold @ 2.0334) @ 1.9894. Still long. Up 676 pips in less than a week on the cable ( as of 6:30pm EST 9/18). Wonder how the OP made out.
Ahhh, I see. I'm a longer term trader (weeks not days) so I don't worry about the different time zone reactions. Plus, I don't want to have to follow it thru the night (I'm in the US). Thanks, good luck to all of us.