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Cable Update (GBPUSD)

  • #1,921
  • Dec 14, 2006 11:56pm Dec 14, 2006 11:56pm
We have long anticipated something of value to be spoken by the Fed man from the US.

Maybe he just might address what is really happening here in America, and not just what people want to hear.

Monarch
  • #1,922
  • Dec 14, 2006 11:57pm Dec 14, 2006 11:57pm
Quoting MoneyMa$ter
Goodness Gracious, Great Balls o' Fire!!!!

I never knew there was so much going on among traders this time of the morning!! 25 minutes to go before MR. B speaks (talking loud and saying nothing). Can learn afrikaan, portuguese, german, etc. etc. etc.
Thank you so much for this comment! I just had a really good outloud laugh to break up the total boredom from the last few hours. The rest of my household is wondering what is so funny about the forex!
  • #1,923
  • Dec 15, 2006 12:10am Dec 15, 2006 12:10am
Quoting monarch
We have long anticipated something of value to be spoken by the Fed man from the US.

Maybe he just might address what is really happening here in America, and not just what people want to hear.
Monarch
Something of value??? Mr. B does exactly what he's paid to do!!

Laughing with you Monarch, enjoying the sarcasm! Folks everywhere around the planet can see "what is really happening here in America", whilst Americans want so badly to be told "it ain't so, please say it ain't so Joe!"

Ten minutes past the hour and cable hasn't moved yet. I think it will decline overnight ("strong" dollar, weak pound). Then we'll get some wild CPI numbers widely divergent from reality. IMHO
  • #1,924
  • Dec 15, 2006 12:19am Dec 15, 2006 12:19am
It has been a while since the Fed has spoken of any thing that is realistic. I can have my dog tell the world the same things he is mumbling.

ruf ruf, wow, and he gets paid for this folks.

I think he could look and the mirror and speak to himself and the world wouln't miss him a bit.

I am so bored with the US economy (FED) - I wouldn't mind losing a pip or two just to see something happen!

Monarch
  • #1,925
  • Dec 15, 2006 12:26am Dec 15, 2006 12:26am
Quoting monarch
It has been a while since the Fed has spoken of any thing that is realistic. I can have my dog tell the world the same things he is mumbling.

ruf ruf, wow, and he gets paid for this folks.

I think he could look and the mirror and speak to himself and the world wouln't miss him a bit.

I am so bored with the US economy (FED) - I wouldn't mind losing a pip or two just to see something happen!

Monarch
Pip Meister you are hilarious!

25 minutes after the hour and cable is still sideways. The man is "talking loud and saying nothing".

But I do expect a rate cut in Q1 of 2007....I've been calling that FOMC move (rate cut) for about 2 months here in FF, long before anyone dared use the "R" word. That's when we'll see 2.0000 pound; the recent run up to 1.9850 was a dress rehearsal (although I admit I got caught up in the hype for a 2.0000 pound at that time also).
  • #1,926
  • Dec 15, 2006 12:28am Dec 15, 2006 12:28am
Damn, still quite as graveyard the cable.ha ha ha.nobody pay attention to him or what?



Quoting monarch
It has been a while since the Fed has spoken of any thing that is realistic. I can have my dog tell the world the same things he is mumbling.

ruf ruf, wow, and he gets paid for this folks.

I think he could look and the mirror and speak to himself and the world wouln't miss him a bit.

I am so bored with the US economy (FED) - I wouldn't mind losing a pip or two just to see something happen!

Monarch
  • #1,927
  • Dec 15, 2006 12:34am Dec 15, 2006 12:34am
I have been following the reports you put out regularly, and I appreciate the time and efforts you put into giving us this important data.

The "R" word is one that we must come to terms with, right now the "R" stands for "Ripoff", I get RIPPED, and the FED gets OFF.

Thanks MoneyMaster for your continued contributions.

Monarch
  • #1,928
  • Dec 15, 2006 12:35am Dec 15, 2006 12:35am
Mr. B says,

Increased market participation and more advanced Chinese markets are needed to develop "reliable monetary transmission mechanism".

Is that like a sophisticated ATM?? Or is it akin to some vile STD? Or perhaps a money laundering scheme?? Reliable monetary transmission mechanism....and cable now bid at 1.9606.
  • #1,929
  • Dec 15, 2006 12:35am Dec 15, 2006 12:35am
seems like cable and euro cripn down slowwwwly pip by pip. More fun to watch the grass grow!! or cow tipping !! or dog pooing !!
  • #1,930
  • Dec 15, 2006 12:42am Dec 15, 2006 12:42am
Quoting yulvme
seems like cable and euro cripn down slowwwwly pip by pip. More fun to watch the grass grow!! or cow tipping !! or dog pooing !!
Well two out of three ain't bad....take your pick of the two!!

Nice little tight range; perfect for a breakout strategy. Cable will probably break around 7:45 gmt, and I'm thinking to the downside. I went short earlier at 9609 just for the heck of it.
  • #1,931
  • Dec 15, 2006 12:43am Dec 15, 2006 12:43am
Quoting MoneyMa$ter
Mr. B says,

Increased market participation and more advanced Chinese markets are needed to develop "reliable monetary transmission mechanism".

Is that like a sophisticated ATM?? Or is it akin to some vile STD? Or perhaps a money laundering scheme?? Reliable monetary transmission mechanism....and cable now bid at 1.9606.

LOL... At least we can have a little fun when the market is dead! Fed member selection process: Must wear pocket protector, must like Star Wars, Must attend Star Wars conventions, Must have never been on a date and be afraid of girls, and Must be very booooooooooooooooooooooooooring.
  • #1,932
  • Dec 15, 2006 12:43am Dec 15, 2006 12:43am
Quoting monarch
I have been following the reports you put out regularly, and I appreciate the time and efforts you put into giving us this important data.

The "R" word is one that we must come to terms with, right now the "R" stands for "Ripoff", I get RIPPED, and the FED gets OFF.

Thanks MoneyMaster for your continued contributions.

Monarch
Dankie...
Gracias...
Merci...
Much love...
and even thanks!!
  • #1,933
  • Dec 15, 2006 12:47am Dec 15, 2006 12:47am
Yeah, sure, okay, uh hum, right, true, I agree - That is what everyone replies back to the fed man.

Make a pip tonight - pay the man tomorrow.

Monarch
  • #1,934
  • Dec 15, 2006 12:48am Dec 15, 2006 12:48am
So what do you guys think about the cable? It seems to be going down more and more. Anyone think its going to rise again or reach 9700?
trading on demo is not trading
  • #1,935
  • Dec 15, 2006 12:50am Dec 15, 2006 12:50am
Today cable opened around 1.9617; current bid approx 1.9606ish, below the 23 fib for the 5th time on the 4H and definitely below the daily TL. Probably a short confirmed by Elliott fans (just holla Elliott folks when it pleases you). Plus the dog is barking the Star Spangled Banner at 2:00 in the morning...tells you somethings about to pop!!!
  • #1,936
  • Dec 15, 2006 12:52am Dec 15, 2006 12:52am
Quoting MoneyMa$ter
Dankie...
Gracias...
Merci...
Much love...
and even thanks!!
Bitte sehr!
  • #1,937
  • Dec 15, 2006 1:00am Dec 15, 2006 1:00am
If the Franfurt opens (now) and drops below open price now, expect the London to open (1Hr from now) and set a 25 pip higher range than the London open price. We then wait for the price to drop from that Higher range, and watch for the price to break the original London open price.

Then you would enter a sell once your 7 pips below the Open price of London.

Whew, hope you understand that.

Monarch
  • #1,938
  • Dec 15, 2006 1:00am Dec 15, 2006 1:00am
Hey Monarch,

At least in your part of the world, it's a relatively decent hour. I'm trying to figure out what the heck am I doing still up at this hour...pecking away at this keyboard...learning new phrases...cracking on Mr. B...plus there's like 33 members, 4 guests and countless cloaked members reading this blarney!!

Maybe we should find something kind and/or scholarly to say about Mr. Bernanke and his erudite economic policy.....NOT!!!
  • #1,939
  • Dec 15, 2006 1:02am Dec 15, 2006 1:02am
completely lost me there!
  • #1,940
  • Dec 15, 2006 1:04am Dec 15, 2006 1:04am
Quoting monarch
If the Franfurt opens (now) and drops below open price now, expect the London to open (1Hr from now) and set a 25 pip higher range than the London open price. We then wait for the price to drop from that Higher range, and watch for the price to break the original London open price.

Then you would enter a sell once your 7 pips below the Open price of London.

Whew, hope you understand that.

Monarch
In other words, short cable at 32 pips below today's London open. Alternatively, short now with a 40 pip SL.
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