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Cable Update (GBPUSD)

  • #13,561
  • May 24, 2007 9:23am May 24, 2007 9:23am
Quoting x3m
I'll go if you're paying :-)
well once I'm back into profit we can work out the details !! haha
“Past performance is not indicative of future results”
  • #13,562
  • May 24, 2007 9:27am May 24, 2007 9:27am
Quoting gobigo12
well once I'm back into profit we can work out the details !! haha
Done deal! Let me know when to drop by to collect my share. :-)
  • #13,563
  • May 24, 2007 9:27am May 24, 2007 9:27am

crikey pabloski it mentions this in the article


'a change in the official Bank Rate takes around two years to have its full impact on inflation'
  • #13,564
  • May 24, 2007 9:30am May 24, 2007 9:30am
Quoting el_duende

crikey pabloski it mentions this in the article


'a change in the official Bank Rate takes around two years to have its full impact on inflation'
I think that's usually why once a country (U.S.) raises rates, it takes off a few months to see if they can see it catching up before they decide to raise or drop. they cant raise it too much or they would seriously screw things up as it says "years down the road"

The effect of raising interest rates has a 6-12 month lag in the economy. That's why the Fed has to be careful, so they don't overdo it. They won't know they've overdone it until it's too late. We also must be patient for the effect of raising interest rates to be felt in the economy.
“Past performance is not indicative of future results”
  • #13,565
  • May 24, 2007 9:31am May 24, 2007 9:31am
Quoting el_duende

crikey pabloski it mentions this in the article


'a change in the official Bank Rate takes around two years to have its full impact on inflation'
Yeah, read that. However, read this:

Quote
Changes in the official Bank Rate take time to have their full impact on the economy and inflation. All the factors we have described have an impact on demand and, in turn, prices. Some influences, such as those on the exchange rate, work very quickly.
  • #13,566
  • May 24, 2007 9:31am May 24, 2007 9:31am
Quoting pabloski
For those who are interested to learn about interest rates effect and consequent market reactions, read this:

http://www.bankofengland.co.uk/educa...tInflation.htm

will do.
BAM BAM BOOM! -bravado
  • #13,567
  • May 24, 2007 9:34am May 24, 2007 9:34am
Quoting katzenhai2
Maybe yes, maybe not. But I don't see this as the point of no return as some call it.
I am not one to hold -200+ trades.
  • #13,568
  • May 24, 2007 9:38am May 24, 2007 9:38am
Quoting pino2
We are playing in a 44 pips range today, cable mustn't be called a major pair then, but I'm still insisting that cable will reach either 1.9897 or 1.9831 today, I will wait and see
It's there. Now, what do you suggest?
  • #13,569
  • May 24, 2007 9:41am May 24, 2007 9:41am
Quoting Takisd
I am not one to hold -200+ trades.
So you think its going lower than 9676 from here?

Quoting x3m
It's there. Now, what do you suggest?
Closing the trade and waiting for better opportunities with clearer signals.
  • #13,570
  • May 24, 2007 9:45am May 24, 2007 9:45am
I am watching the diamond being drawn on 4 hour, and the almost identical price action to the last spike.

Also watching the YEN and USD very close.. I feel an unwind is coming, and this will smash the majors.
  • #13,571
  • May 24, 2007 9:45am May 24, 2007 9:45am
about time it started to change direction.
hope it gets back up over .9850 before my lunch ! haha
“Past performance is not indicative of future results”
  • #13,572
  • May 24, 2007 9:55am May 24, 2007 9:55am
Still trying to work out why so many people are dying for such high numbers on g/u and the likes..

Its not as easy to trade with these high numbers, and its starting to mess up the fundamentals of the market. I am hoping (although have no real bet for) a move below 1.9000 in the coming 5 months
  • #13,573
  • May 24, 2007 9:56am May 24, 2007 9:56am
Quoting Takisd
Still trying to work out why so many people are dying for such high numbers on g/u and the likes..

Its not as easy to trade with these high numbers, and its starting to mess up the fundamentals of the market. I am hoping (although have no real bet for) a move below 1.9000 in the coming 5 months
it will go there as soon as it "hit's the higher numbers"
“Past performance is not indicative of future results”
  • #13,574
  • May 24, 2007 10:03am May 24, 2007 10:03am
As I see it this negative reaction to the New Home Sales data (up 16.2%) merely delays the expected new high above 1.9894. Wave could be complete with a complex wave five underway or wave four could be extending into a flat or triangle. Both suggest we continue to favor the upside.

"A new high above 1.9894 will complete a five-wave rally.
That will........

1) bolster the underlying bullish outlook
2) set the stage for a correction.

The wave four low at 1.9838 would offer first support though a correction in a second wave could seek lower levels."
“Past performance is not indicative of future results”
  • #13,575
  • May 24, 2007 10:05am May 24, 2007 10:05am
Not a wave trader, nor am a fan of wave trading. You can find a wave to show both directions, depends how far you minimize your chart. and how far back you are willing to start.
  • #13,576
  • May 24, 2007 10:11am May 24, 2007 10:11am
One of the "told you so" posts that Cesarnc adores, I posted here today that the cable will reach either 1.9897 or 1.9831, and I said it is a must and then we reached the 1.9831 which was my target (short from 1.9881)
  • #13,577
  • May 24, 2007 10:14am May 24, 2007 10:14am
Quoting pino2
One of the "told you so" posts that Cesarnc adores, I posted here today that the cable will reach either 1.9897 or 1.9831, and I said it is a must and then we reached the 1.9831 which was my target (short from 1.9881)
I have it 9829 here, so bad, bad call........
  • #13,578
  • May 24, 2007 10:23am May 24, 2007 10:23am
I feel like I'm watching the US gov explain away their actions....The US gov supports big US corporations going into foreign countries, corrupting the local officials there to let them take resources. They profit from local resources, take advantage of local people's and give nothing in return except spoiled water and land. If the local officials can't be bought the US gov has a campaign of lies and misinformation calling them dictators and such to try and war their way into being able to steal the resources from the people. Soon everyone's kids are being born with three eyes and legs growing out of their butts or they are sick and dying from the polluted environment. They are left behind with no financial benefit from the resources being taken. Then when all the money has been made the big US corporations leaves nothing behind except misery and destruction so the locals rebel against all big corporations that come in and try to sabotage them from stealing and destroying. US gov then turns around and characterizes the locals as radicals and extremists who hate the US for their 'way of life. That the locals are the evil ones who are hating 'freedom' because they don't want to let themselves be taken advantage of. Disrespect the locals, the rules and the ways of theirs so you can do what you want without regard to the rules nor respect the space that you are spoiling. This is a tragedy.

So we have someone who is crowing about 35 pips yesterday when there was +150 pips to be made off of fundamental pressure going in the opposite direction? They want to preen around on the basis of 35 pips? Today this person is calling for other targets that aren't fulfilling because of fundamental pressure yet how does this person think they are able to boast about their charts and make fun of other people's methods when their own calls are failing because of the very forces they make fun of? This is a comedy.
  • #13,579
  • May 24, 2007 10:29am May 24, 2007 10:29am
Quote
Still trying to work out why so many people are dying for such high numbers on g/u and the likes..
Its not as easy to trade with these high numbers, and its starting to mess up the fundamentals of the market. I am hoping (although have no real bet for) a move below 1.9000 in the coming 5 months
Its not that we want it to see, and I don't believe the major trend has changed. Its a minor upward trend that at least goes to ~1.9900. Keep in mind its GBPUSD, they likes to trade in the extremes.

Quote
Not a wave trader, nor am a fan of wave trading. You can find a wave to show both directions, depends how far you minimize your chart. and how far back you are willing to start.
You need to count the waves backward (not indefinitely), thats why its so complex.
  • #13,580
  • May 24, 2007 11:20am May 24, 2007 11:20am
Quoting gobigo12
buy buy buy !! @ 9850
now it's going where I want it.......
“Past performance is not indicative of future results”
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