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Trading FOMC minutes

  • #21
  • Oct 11, 2006 12:59pm Oct 11, 2006 12:59pm
man nothing can keep the dollar down these days! good news, bad news, it just dont matter!
Relax and be happy.
  • #22
  • Oct 11, 2006 1:00pm Oct 11, 2006 1:00pm
Quoting ngdaniel
$1200 in my account says that short on GBP/USD was a correct call for the FOMC.
nice one
Relax and be happy.
  • #23
  • Oct 11, 2006 1:02pm Oct 11, 2006 1:02pm
im still a newbie to this, so how long does the price drop/rise for?
  • #24
  • Oct 11, 2006 1:04pm Oct 11, 2006 1:04pm
Quoting merlin
wow look at this dollar strength. sombody just hit a BIG bid
Agreed, good call............most of us: ....HA!!!!

Hey, I'm over 100 post now
  • #25
  • Oct 11, 2006 1:04pm Oct 11, 2006 1:04pm
What we are seeing right now is not even half the daily range on the pound. If the pound wants to move youll notice it really fast... usually the range is 100 to 150 pips before you can blink ur eye... maybe not that fast but at times pretty fast.
  • #26
  • Oct 11, 2006 1:05pm Oct 11, 2006 1:05pm
until i take my profits, hopefully ...
  • #27
  • Oct 11, 2006 1:06pm Oct 11, 2006 1:06pm
It was really a non-event and all you shorties got a small snack Congrats!!
Trade what you see - Not what you think
  • #28
  • Oct 11, 2006 1:06pm Oct 11, 2006 1:06pm
basically the next wave down if there is one has not started yet...
  • #29
  • Oct 11, 2006 1:07pm Oct 11, 2006 1:07pm
Yes, that worked out well for me also.



Quoting merlin
wow look at this dollar strength. sombody just hit a BIG bid
  • #30
  • Oct 11, 2006 1:07pm Oct 11, 2006 1:07pm
Quoting enoc2g
What we are seeing right now is not even half the daily range on the pound. If the pound wants to move youll notice it really fast... usually the range is 100 to 150 pips before you can blink ur eye... maybe not that fast but at times pretty fast.
yeah the movement wasnt that significant, but with these minutes it the move is usually very slow because the market has to digest a lot of info. so it may not be over yet.

the move i think is more significant because the minutes read dollar bearish (to me) yet the dollar had the nerve to strengthen. that says something
Relax and be happy.
  • #31
  • Oct 11, 2006 1:10pm Oct 11, 2006 1:10pm
hey btw, lacker is still speaking which is also have an effect on the market. especially since he is the lone dissenter!
Relax and be happy.
  • #32
  • Oct 11, 2006 1:11pm Oct 11, 2006 1:11pm
which brings me back to the point and I could be wrong here ofcourse but news isnt the be all end all mighty generator of trends, yes when u have highly unexpected news the market reacts sometimes shifting trends or creating them. But I think its more than just news that causes this, there are also technical factors that hedge funds and commercials are looking at from both sides and reacting creating price movement, after a while of trading you can almost see the mass crowd psychology in the price action itself.
  • #33
  • Oct 11, 2006 1:12pm Oct 11, 2006 1:12pm
good point. the value of understanding the news is that you can gauge the market's reaction to news. the news doesnt move the market, the hedgefunds that look at the news do!
Relax and be happy.
  • #34
  • Oct 11, 2006 1:13pm Oct 11, 2006 1:13pm
Wow, i slept on this one, why didnt i get on to my account. That is an awesome move for hte dollar.
  • #35
  • Oct 11, 2006 1:13pm Oct 11, 2006 1:13pm
just had a break of key small TL at 8540 level, price might possible test the 8520 - 8500 level. pullback due to possible near term support and or profit taking also a possibility... ;-)
  • #36
  • Oct 11, 2006 1:15pm Oct 11, 2006 1:15pm
damn-I wish I was short the gbp
Trade what you see - Not what you think
  • #37
  • Oct 11, 2006 1:18pm Oct 11, 2006 1:18pm
Merlin in my not so mighty opinion its not just the news they see but the actual price patterns and trends themselves and react to the various key SR levels where these orders are located, COT data despite its latency can at times display a good window into comm and hedge fund position, this isnt the only tool and neither should the news be the only tool peeps need to use to make a trading decision a confluence of tools pointing in the same direction should be utilized. just some random thoughts i wanted to share based on my limited experience so far... Thanks!
  • #38
  • Oct 11, 2006 1:18pm Oct 11, 2006 1:18pm
im just happy the gbp helped me even out the money i lost with other pairs this morning.
  • #39
  • Oct 11, 2006 1:18pm Oct 11, 2006 1:18pm
Quoting summitfx
damn-I wish I was short the gbp
I was short and made a big move on this one. The original poster, whose take I needed to confirm with my questions, seemed to be dead on the money. So to speak.
  • #40
  • Oct 11, 2006 1:20pm Oct 11, 2006 1:20pm
Nice Trade- i best stop heckling the NewsTraders and join the party

Quoting 1Sundevil
I was short and made a big move on this one. The original poster, whose take I needed to confirm with my questions, seemed to be dead on the money. So to speak.
Trade what you see - Not what you think
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