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Cable Update (GBPUSD)

  • #17,981
  • Jul 10, 2007 5:31am Jul 10, 2007 5:31am
Quoting allserene
No more mushy peas ? peas too mushy ? I am out of the UK - selling my many millions of GBpeas and going somewhere where they have lots of peas and lots of dripping to fry the fish - and I dont mean dripping wet...

seriously, I thought the exchange rate depended more on Euros and interest rate differentials - and not GBpeas ? This fundamental stuff is a bit to 'real world' for forex markets ?
LOL.

Also, all crops affected - including animal feeds. Insurance companies and government money in billions to reinstate damage to property and infrastructure. I don't mean to be a doom monger. By the way. How are things in New Orleans these days? Is their economy doing well? I think the market is well aware of the fundamentals.

But fish and chips are getting too expensive. And that is when you can find any worth eating.
Gone to a better place
  • #17,982
  • Jul 10, 2007 5:41am Jul 10, 2007 5:41am
Quoting smikester
LOL.

Also, all crops affected - including animal feeds. Insurance companies and government money in billions to reinstate damage to property and infrastructure. I don't mean to be a doom monger. By the way. How are things in New Orleans these days? Is their economy doing well? I think the market is well aware of the fundamentals.

But fish and chips are getting too expensive. And that is when you can find any worth eating.
Totally agree with you - but does the forex market care if the UK is drowning and the economy is hurt, as long as interest rates stay high - going higher ? Usual debate I suppose - the answer to which is that fundamentals don't matter in the short term and if the Chinese and Arabs bale you out, they don't matter in the medium term either... the long term looks rather tricky but we will all be dribbling soup in the geriatric ward by then and it's too long to keep a trade on anyway...altogether now - 'fundamentals don't matter'
  • #17,983
  • Jul 10, 2007 6:00am Jul 10, 2007 6:00am
Quoting allserene
Totally agree with you - but does the forex market care if the UK is drowning and the economy is hurt, as long as interest rates stay high - going higher ? Usual debate I suppose - the answer to which is that fundamentals don't matter in the short term and if the Chinese and Arabs bale you out, they don't matter in the medium term either... the long term looks rather tricky but we will all be dribbling soup in the geriatric ward by then and it's too long to keep a trade on anyway...altogether now - 'fundamentals don't matter'
Disagree, Yearly traders certainly care about fundies, them LT players dont care about 5-700 points if they expect 5-10 000 points overall. placing sell orders 100-200k per hr. Not saying they are but that is their thinking, so whoever is buying their selling definately wont outlast their stamina, then their orders are added to the dominat flow and shazam trend reversal.
"Millionaires don't use astrology, billionaires do"
  • #17,984
  • Jul 10, 2007 6:17am Jul 10, 2007 6:17am
Market is sloooowww and booorriiingg and laaazzyyy and.... ZZZZZZZZZZ

http://www.venushairhouston.com/anim...sleepy-dog.jpg
  • #17,985
  • Jul 10, 2007 6:19am Jul 10, 2007 6:19am
Quoting OrionsWay
Disagree, Yearly traders certainly care about fundies, them LT players dont care about 5-700 points if they expect 5-10 000 points overall. placing sell orders 100-200k per hr. Not saying they are but that is their thinking, so whoever is buying their selling definately wont outlast their stamina, then their orders are added to the dominat flow and shazam trend reversal.
Absolutely - the market is made up of players working on different time frames and working both sides of the market -- but exactly when they adjust their portfolios is unknown and not immediately after the peas get mushy ? So if Mr Megabillions dumps his GBP a month after the floods then we can still make long gbp profits for a month even though the fundamentals are soggy. However, if Mr Megabillions is one of the governments and going opposite to what fundamentals demand then wobbles can happen.
So I guess I don't know who he is and his timings and his motives and if he is just wagging us for a day or two - so all I can do is be very short term with cast iron sl's ...in other words - I haven't got a clue as to the output of the mix of factors so I don't try and work with fundamentals - but yes the long term people need to. My head hurts just thinking about all the things I don't know without trying to learn any of em...
  • #17,986
  • Jul 10, 2007 6:27am Jul 10, 2007 6:27am
Alls absoultely, i know what u mean the market rises or falls long after the reversal has happened in setiment. Momentum is very pricey to stop indeed. Your plan is solid no doubt.

myself i think the shot across that bow came on 04/07/04 at 04:00 am 4hr bar
"Millionaires don't use astrology, billionaires do"
  • #17,987
  • Jul 10, 2007 6:34am Jul 10, 2007 6:34am
Quoting cesarnc
Market is sloooowww and booorriiingg and laaazzyyy and.... ZZZZZZZZZZ

http://www.venushairhouston.com/anim...sleepy-dog.jpg
Where is the flying pigs? Lazy = Pig only?? What is this dog doing here??
ahhh. "LONG" legged dog??
  • #17,988
  • Jul 10, 2007 6:42am Jul 10, 2007 6:42am
Quoting zamans98
ahhh. "LONG" legged dog??


You guys please, show some respect here, will ya? Mr. Greenback is leaving the building...

Bye Bye Mr. Greenback
  • #17,989
  • Jul 10, 2007 7:06am Jul 10, 2007 7:06am
Don't really know what this means to the near term, but it's worth sharing.

08:03 US navy is sending a third aircraft carrier to the Persian Gulf

This kind of stuff is usually dollar bearish. I don't know, however, if "carries sent to Persian Gulf" is already priced in....

Full statement:

08:06Full Navy statement: "Enterprise Carrier Strike Group provides us with the right assets at the right time as we continue to strengthen regional relationships that contribute directly to stability and the free flow of commerce in the region. Enterprise presence provides Navy power to counter the assertive, disruptive and coercive behavior of some countries, as well as support our soldiers and Marines in Iraq and Afghanistan."
  • #17,990
  • Jul 10, 2007 7:12am Jul 10, 2007 7:12am
Quoting cesarnc
Don't really know what this means to the near term, but it's worth sharing.

08:03 US navy is sending a third aircraft carrier to the Persian Gulf

This kind of stuff is usually dollar bearish. I don't know, however, if "carries sent to Persian Gulf" is already priced in....

Full statement:

08:06Full Navy statement: "Enterprise Carrier Strike Group provides us with the right assets at the right time as we continue to strengthen regional relationships that contribute directly to stability and the free flow of commerce in the region. Enterprise presence provides Navy power to counter the assertive, disruptive and coercive behavior of some countries, as well as support our soldiers and Marines in Iraq and Afghanistan."


The Enterprise is an old vessel from the Klingon wars so it probably isn't too significant...
  • #17,991
  • Jul 10, 2007 7:14am Jul 10, 2007 7:14am
Quoting allserene
The Enterprise is an old vessel from the Klingon wars so it probably isn't too significant...
Maybe not, but the carry trades doesn't seem to think so
  • #17,992
  • Jul 10, 2007 7:20am Jul 10, 2007 7:20am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
It is interesting to observe cable but I couldnt find
my entry point today.This "hammer" on 15min chart
was not enought. Did you take any trade today Cesarnc?
  • #17,993
  • Jul 10, 2007 7:22am Jul 10, 2007 7:22am
[quote=cesarnc;1490175]

You guys please, show some respect here, will ya? Mr. Greenback is leaving the building...

........on a stretcher with the paramedics trying to find a pulse!
I've got my pips - go get yours!
  • #17,994
  • Jul 10, 2007 7:22am Jul 10, 2007 7:22am
Quoting dado26
It is interesting to observe cable but I couldnt find
my entry point today.This "hammer" on 15min chart
was not enought. Did you take any trade today Cesarnc?
0135 already TP'd for 40 pips.

now holding positions long at 0154
  • #17,995
  • Jul 10, 2007 7:22am Jul 10, 2007 7:22am
Dollar getting whacked across the board.

Is this because of Klingon ship making the move?
  • #17,996
  • Jul 10, 2007 7:26am Jul 10, 2007 7:26am
Quoting zamans98
Dollar getting whacked across the board.

Is this because of Klingon ship making the move?
We are waiting for Capitain Kirk to issue a statement. Spok is busy dumping dollars... you know... just in case.
  • #17,997
  • Jul 10, 2007 7:38am Jul 10, 2007 7:38am
I think we really need to go trough 2.0200 today. C'mon cable, don't let me down...
  • #17,998
  • Jul 10, 2007 7:43am Jul 10, 2007 7:43am
Quoting ganymedes
I think we really need to go trough 2.0200 today. C'mon cable, don't let me down...
Euro seems to have a rainforest of woods to chop at 3670s, the all-time (multi-years, whatever) highs.

I'm, however, looking for 3700 as likely, cable following suit.
  • #17,999
  • Jul 10, 2007 7:45am Jul 10, 2007 7:45am
Quoting cesarnc
I find it hard to believe that there is not a BUNCH of hungry dogs, ready to buy the hell of this pair at 0130 area.

I'm barking at that level, too...
Excuse my newbie-ness but how did you predict it would drop to this level and then go up again.
No man is smart, except by comparison to those who know less!
  • #18,000
  • Jul 10, 2007 7:47am Jul 10, 2007 7:47am
Quoting strangemartian
Excuse my newbie-ness but how did you predict it would drop to this level and then go up again.
I didn't predict it would drop to 0130. I said that it was likely to find buyers at that level IF the price was to drop.

Previsous strong resistance on Friday, turned into support.
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