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Cable Update (GBPUSD)

  • #281,081
  • Jun 10, 2011 3:38am Jun 10, 2011 3:38am
Quoting bchbch
Target met @ 6228 from 6328 just before the news.

With the news wat r u looking at still short or market to close upward.
Keep the Lights on then you can catch the rise from the dark.
  • #281,082
  • Jun 10, 2011 3:39am Jun 10, 2011 3:39am
Well, worst than previous and forecasts for Uk manuf and ind prod numbers and ppi input and output easing ...initial quick knee-jerk demand met with demand at Daily S3 with price @ 129% of the 20day atr, and a great 1min regular bullish divergence and bullish hammer trigger resulted to get long for a few pips...

I can't say I understand the market reaction but just went with the techs that resulted....

G/L
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ex member
  • #281,083
  • Jun 10, 2011 3:42am Jun 10, 2011 3:42am
closed long for 20 pips
  • #281,084
  • Jun 10, 2011 3:44am Jun 10, 2011 3:44am
whats the freaking big green candle doing up there, its a noise, everyone knows pound will fall.
  • #281,085
  • Jun 10, 2011 3:46am Jun 10, 2011 3:46am
I said here yesterday that I can't see a Uk Boe/Mpc rate rise before the Uk Q2 Gdp # is known and so far the pointers are for a weak number which will again point to no rise..Mpc willl be encouraged that PPI is easing ? Supports their view of shortt term 'imported' inflation that will ease in the medium term back to target ?

G/L
ex member
  • #281,086
  • Jun 10, 2011 3:49am Jun 10, 2011 3:49am
Quoting ricmaj
With the news wat r u looking at still short or market to close upward.
hi Ricmaj there is still left 100pips down side surely but will wait for some up move to get a good position. So far 169 range complete today so some little upside will do now. Its my opinion wat u say.
  • #281,087
  • Jun 10, 2011 3:51am Jun 10, 2011 3:51am
lets wait until tokyo closes, and let see where is this pound going,
  • #281,088
  • Jun 10, 2011 3:52am Jun 10, 2011 3:52am
Not heard of sell the rumour-buy the fact Lol...yeh I just netted +24pips out of that 'noise' Who are these 'everyone' that know what will happen - I want to meet them, they must be trillionaires ?

Quoting bdsilvano
whats the freaking big green candle doing up there, its a noise, everyone knows pound will fall.
ex member
  • #281,089
  • Jun 10, 2011 3:53am Jun 10, 2011 3:53am
wat the@@@@
  • #281,090
  • Jun 10, 2011 3:56am Jun 10, 2011 3:56am
jeez, another case of a big dog eat small traders.....
  • #281,091
  • Jun 10, 2011 3:57am Jun 10, 2011 3:57am
"British manufacturing production plunged by 1.5%, much worse than an unchanged figure that was expected. Also producer prices fell more than expected, with PPI Input dropping by 2%. GBP/USD that made big losses before the publications (rumors?) is now bouncing on a "sell the fact" behavior. The bad data leaves room for a resumption of falls"


What is sell the fact behaviour? I was finding the so much fall of GU before the release quite odd, so some people knew already the bad news I guess and thats why it dropped so suddenly. Because once the news released it did not fall further it just bounced up. What are your thoughts?
  • #281,092
  • Jun 10, 2011 4:03am Jun 10, 2011 4:03am
Rumour on some wires/in some quarters of a really bad -4.5% ind prod number was circulating earier - ie sell the rumour, then as forexcrunch.com explain:

...British manufacturing production plunged by 1.5%, much worse than an unchanged figure that was expected. Also producer prices fell more than expected, with PPI Input dropping by 2%. GBP/USD that made big losses before the publications (rumors?) is now bouncing on a "sell the fact" behavior. The bad data leaves room for a resumption of falls. http://www.forexfactory.com/images/m...ke.gif?v=1.0.0 ...

Quoting MartinMyster
What is sell the fact behaviour? I was finding the so much fall of GU before the release quite odd, so some people knew already the bad news I guess and thats why it dropped so suddenly. Because once the news released it did not fall further it just bounced up. What are your thoughts?
ex member
  • #281,093
  • Jun 10, 2011 4:05am Jun 10, 2011 4:05am
Profit taking of course, insider trading on a giant scale.

Makes for a good opportunity to re-enter shorts as well. Follow the money...
Don't get mad, get even!
  • #281,094
  • Jun 10, 2011 4:06am Jun 10, 2011 4:06am
Quoting MartinMyster
"What are your thoughts?
I try not to trad the news. But it did take a a bit of a fall preceding the release. I did not anticipate the numbers being that bad so I went L before the release. I shit my pants when I saw the release but the damn thing moved upwards.

I'll take it.
  • #281,095
  • Jun 10, 2011 4:06am Jun 10, 2011 4:06am
So where will the 'sell the rally' discount hunters come in to sell it ?

G/L

Quoting stulic
Profit taking of course, insider trading on a giant scale.

Makes for a good opportunity to re-enter shorts as well. Follow the money...
ex member
  • #281,096
  • Jun 10, 2011 4:09am Jun 10, 2011 4:09am
i think they just try to find a good price rate and make for a big fall short.... sometimes fundamentally works in crazy ways.
  • #281,097
  • Jun 10, 2011 4:10am Jun 10, 2011 4:10am
we have to watch, 130.429 G/J area as this is the resistance
  • #281,098
  • Jun 10, 2011 4:13am Jun 10, 2011 4:13am
Quoting bbmac
So where will the 'sell the rally' discount hunters come in to sell it ?

G/L
Good question, let me know if you find the answer gl 2u2
Don't get mad, get even!
  • #281,099
  • Jun 10, 2011 4:15am Jun 10, 2011 4:15am
Quoting bbmac
So where will the 'sell the rally' discount hunters come in to sell it ?

G/L
1.6294?
  • #281,100
  • Jun 10, 2011 4:16am Jun 10, 2011 4:16am
looking to sell around 6325
consistency wins
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