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  • Bank of England hikes rates for the first time in a decade

    From cnbc.com

    The Bank of England (BOE) raised interest rates for the first time in more than 10 years Thursday, a landmark move after borrowing costs had slumped to the lowest level on record. Alongside Governor Mark Carney, the majority of rate-setters at the U.K.'s central bank voted in favor of hiking the benchmark rate to 0.5 percent from 0.25 percent. The bank's key rate is crucial for the economy as it is used to price all sorts of bank loans and mortgages. Investors had widely expected a 0.25 percent move upwards in the interest rate, with the BOE now reversing the emergency rate cut announced in August last year in the ... (full story)

Added at 8:05am

  • Bank Rate increased to 0.50%

    From bankofengland.co.uk

    The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 1 November 2017, the MPC voted by a majority of 7-2 to increase Bank Rate by 0.25 percentage points, to 0.5%. The Committee voted unanimously to maintain the stock of sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves, at £10 billion. The Committee also voted unanimously to maintain the stock of UK government bond purchases, financed by the issuance of central ... (full story)

Haha, is it opposite day? the GBPUSD plummeted just now... ?
Now watch Carney spread doom and gloom in his press conference...
Quoting skillz16
Haha, is it opposite day? the GBPUSD plummeted just now... ?
That'll be the Algos making a killing...
Quoting skillz16
Haha, is it opposite day? the GBPUSD plummeted just now... ?
Of course.
Hike - economy is crap.... businesses bankrupt.... Homeless.... All misery....

Bankers get richer too.
What's the problem??? 😯😈
See, need to think as a banker. Or thief.😉

1.25 next week??
Beware of robber banks (RB), bad advisors.
Der Trader All Time Pips: 52,970
It was already priced in for a hike, it is a buy the rumour sell the fact situation
  •  Guest
  • | IP XXX.XXX.101.201
Wow gbp/usd down at 1.3126
*BOE DROPS LINE THAT RATE MAY NEED TO RISE MORE THAN MKT EXPECTS

Haha and it plummets... wtf mate. Long the bulk from 1.31180 so hopefully I get some kind of recovery before if it resumes down. Does not seem like the situation where it should be down... that and EURUSD has been up probably on dollar weakness.

Wtf mate. haha
Thats just stop loss hunting soon it will be above 1.35
The key to making money is to stay invested.
Agree, Josh657. Perfect example of buy the rumor and sell the news.... It's fine to buy yesterday's wave up,.. as long as you get to the exit before the water rushes back out to sea.
I posted this earlier today....
Hope people made few bucks

Quoting Not-KPMG
Awesome NewtonsCash!! Yes. Baaaaad
But bankers will do what their paymasters say.
So likely to hike. Why???
That puts money in their dirty pockets!!! More bankruptcy... Sell houses.....Rich bums buy houses....rich bums pay "gifts" to bankers. Sooo simple.

Buy or sell pound??? What's there to think?? Hike - economy in the gutter - sell pound. (.... falls two days straight (starting at 7am ☕ time for leakers.....i mean bankers.......
Plus they NEEDED to hike.
All buster, all lies...then pay for Brexit.

If they didn't hike.....boom 1.20.
Now with hike maybe 1.22-25 few weeks time?
Beware of robber banks (RB), bad advisors.
Der Trader All Time Pips: 52,970
Quoting fxtango
Agree, Josh657. Perfect example of buy the rumor and sell the news.... It's fine to buy yesterday's wave up,.. as long as you get to the exit before the water rushes back out to sea.
Trade the charts I suppose but it makes absolutely 0 sense that the dollar is weakening, they need a bigger hike than expected, and this is going down.

Around/above 1.3096 I'm buying at least for the short term... we shall see. haha >.<

I guess everyone BUT me knew this? =D
already expected that they would hike, so no surprise. It's called 'buying the rumour, selling the fact'. Folks bought GBP on the anticipated rise, took their profits before hand and now have 'sold' the actual fact of the rise. The next stage is the reaction after the move/ with Carney's speech - more fun to come !
i think stay away from pounds for now
hahaha rate hike BAM 200 pips down, yeah everything is alright.
Rate hike in a decade. This should have taken GBPUSD to the sky. However it went underground .
Can't seem to understand this.
When the going gets tough , the tough get going
rate hike but GBP is plummeting down? I don't get it.
Quoting Stubborn
Rate hike in a decade. This should have taken GBPUSD to the sky. However it went underground . Can't seem to understand this.
Expectations were apparently much higher.
What is the game being played backstage ??

and where do the fundamentals stand now seeing such reaction ??

if not rise, there shouldnt be any fall...
  •  Guest
  • | IP XXX.XX.6.251
Rate hike was anticipated and was already priced. This sudden plunge down was caused because of inflation report.
Oi oi oi.
So all the hype from 10th September unravelled.???
All small fish burned or fried

Forex is soooo simple.

No other hike in next 50 years.....
So what to do?? To buy or not to buy said Hamlet

Now on daily trendline around 1.3080.....
Patience.
Beware of robber banks (RB), bad advisors.
Der Trader All Time Pips: 52,970
Buyed at1.3100 for short term
is this Head and shoulders?
Quoting Stubborn
Rate hike in a decade. This should have taken GBPUSD to the sky. However it went underground . Can't seem to understand this.
What's to understand??
Read post 10. Read NewtonsCash....
Simple.

When is the next hike!??? Never.

Chart attached Never mind it's years old
Patience is the key.
Attached Image (click to enlarge)
Click to Enlarge Name: bear eats bull NK.jpg Size: 5 KB
Beware of robber banks (RB), bad advisors.
Der Trader All Time Pips: 52,970
Quoting Not-KPMG
Oi oi oi. So all the hype from 10th September unravelled.??? All small fish burned or fried Forex is soooo simple. No other hike in next 50 years..... So what to do?? To buy or not to buy said Hamlet Now on daily trendline around 1.3080..... Patience.
Guru,

Help me becoming big fish

I am burnt being small today.....help me open my third eye as you have...
its classic buy the rumor, sell the fact! if you are losing money on this trade you are either an emotional trader or a beginner in forex.
Quoting fundoomaster
{quote} Guru, Help me becoming big fish I am burnt being small today.....help me open my third eye as you have...
Easy.🍻
There are two frames to trade. :::

Small. Check the guys in "EU only" thread for guidance.

Big. Need deeper understanding who MOVES THE MARKET. A hint - not retail.

And the trick is to differentiate between big/small.
That's it.
🍻
Beware of robber banks (RB), bad advisors.
Der Trader All Time Pips: 52,970
Quoting skillz16
{quote} Trade the charts I suppose but it makes absolutely 0 sense that the dollar is weakening, they need a bigger hike than expected, and this is going down. Around/above 1.3096 I'm buying at least for the short term... we shall see. haha >.< I guess everyone BUT me knew this? =D
BOE prepared well for Brexit. You're right!
Quoting skillz16
{quote} Trade the charts I suppose but it makes absolutely 0 sense that the dollar is weakening, they need a bigger hike than expected, and this is going down. Around/above 1.3096 I'm buying at least for the short term... we shall see. haha >.< I guess everyone BUT me knew this? =D
What's your TP price ?
Quoting Not-KPMG
{quote} Easy.🍻 There are two frames to trade. ::: Small. Check the guys in "EU only" thread for guidance. Big. Need deeper understanding who MOVES THE MARKET. A hint - not retail. And the trick is to differentiate between big/small. That's it. 🍻
Guide me to differentiate between big/small......

I somehow managed to save my equity... burnt all I earned during last 2 months...
Quoting fundoomaster
{quote} Guide me to differentiate between big/small...... I somehow managed to save my equity... burnt all I earned during last 2 months...
I like these type of news, especially when price shoots in one direction and quickly reverses. It makes it easy to trade. for me it is 10% return on equity. It would have been around 15% but had to go pick my daughter from school and had to close trades. Price reached my original tp but did not want to take chances
Quoting fundoomaster
{quote} Guide me to differentiate between big/small...... I somehow managed to save my equity... burnt all I earned during last 2 months...
Non of these high impact news could hurt you if you had your money managed properly. MM always come first. And through time, you will learn a lot of things by doing...sometimes, the other people's advice will made any sense for you unless you experience it.
Think upside down for GBP or better skip GBP pair from Forex trades.
Wow. I am newbie and got burned on 2 GBP positions i had open, luckily on Demo but puts a hole in my nice green month last month and my main aim (over any financial gain) of finding consistency.
Great lessons learnt today!!
If you are a news trader you don't know the market. One main problem with retail traders is that they are focus on news instead of the charts that's right in front of them. When a chart shows you it's going down or up and you ignore the chart to follow the news and you get burn that's on you. The chart showed you when it was going down or up instead you did the opposite. If your on here asking others where to tp or entry you don't need to trade. Trial and error or someone teaching you that knows what they are doing is the best way. Learn how to read the charts. There is a bigger picture in this market. Read the charts and you will see that bigger picture.
1 month profit burn in 5 min...terrible...f**k..😬😬
Funny thing is nobody here is able to explain such market behaviour......

Fundamentals go down the grave.
Quoting Not-KPMG
Oi oi oi. So all the hype from 10th September unravelled.??? All small fish burned or fried Forex is soooo simple. No other hike in next 50 years..... So what to do?? To buy or not to buy said Hamlet Now on daily trendline around 1.3080..... Patience.
NK remind me not to hesitate next time. I saw with my own eyes perfect Sell set up for pound and i didn't take it. Well. I am pretty sure there is going to be another one 😁
reversing in 3..2..1.. go go go!!!
Hey buddy, let's grab some Pips!
Quoting WhiteMouseFX
reversing in 3..2..1.. go go go!!!
would it reverse ? hahaha
Attached Image (click to enlarge)
Click to Enlarge Name: lotr-gandalf-balrog_1.jpg Size: 453 KB
Hey buddy, let's grab some Pips!
Quoting WhiteMouseFX
reversing in 3..2..1.. go go go!!!
you always say the opposite my friend
Quoting WhiteMouseFX
{image}
It has gone past 1.3083....
When the going gets tough , the tough get going
  •  Guest
  • | IP XX.XXX.125.53
Quoting fundoomaster
Funny thing is nobody here is able to explain such market behaviour......
The charts explain 'such market behaviour' as you put it. In fact the charts explain everything, but only if you know how to read them!

1)Understand and recognise Support and Resistance.
2)At the end of the day look at your charts. Check the long term charts Monthy, weekly, daily.
3) Draw in all lines of long term Support and Resistance. Be aware that the lower the time frame the weaker the Support and Resistance.
The charts below will show the long term decending support turning to a double touch resistance on the weekly and daily chart. Also there is an acending tread line clearly visible on the one hour chart. The news just hurried the move down as it was already priced into the market!
  •  Guest
  • | IP XX.XXX.125.53
Sorry had trouble posting charts
Nothing has changed...all the way down to 1.2770....
Only then will shift things
Just another culling of the herd...
To all those out there who traded GBP pairs, I have a simple message. If you had your account wiped or took a huge hit on your balance, then quite simply...you were way over leveraged.

There are people who claim it was plainly in the charts...buy the rumor sell the news etc. A daily ripple like today is part and parcel of fx trading. Hindsight is a wonderful thing and many will claim they saw this coming...will these guys still be in the same shape 12 months from now?

Trade with zero leverage and your whole trading mentality will change....zero leverage=zero stop loss. Trade the monthly charts and forget the hourly, 4 hourly or even the daily moves..concentrate on the long term trend.
Quoting digit1288
To all those out there who traded GBP pairs, I have a simple message. If you had your account wiped or took a huge hit on your balance, then quite simply...you were way over leveraged. There are people who claim it was plainly in the charts...buy the rumor sell the news etc. A daily ripple like today is part and parcel of fx trading. Hindsight is a wonderful thing and many will claim they saw this coming...will these guys still be in the same shape 12 months from now? Trade with zero leverage and your whole trading mentality will change....zero...
Don't forget the majority of us would not have a chance at trading without leverage. I mean who would be able to trade with just a few$k with no leverage?
Quoting johNal
{quote} Don't forget the majority of us would not have a chance at trading without leverage. I mean who would be able to trade with just a few$k with no leverage?
Unfortunately, this is why 95%+ of all retail traders fail.
Figured it was sell the news event.. but I stay away from huge news.... Not my thing...
Trade the chart.. not the news... If good news was as simple as going long.. we would all be billionaires....
The only system that will work is one designed by and for yourself.
http://www.independent.co.uk/news/business/news/pound-sterling-worst-performing-currency-world-brexit-a7388821.html
The dream will never die
Quoting cblack
If you are a news trader you don't know the market. One main problem with retail traders is that they are focus on news instead of the charts that's right in front of them. When a chart shows you it's going down or up and you ignore the chart to follow the news and you get burn that's on you. The chart showed you when it was going down or up instead you did the opposite. If your on here asking others where to tp or entry you don't need to trade. Trial and error or someone teaching you that knows what they are doing is the best way. Learn how to...
Thanks for the enlightenment.
Trade well
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