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Cable Update (GBPUSD)

  • #34,301
  • Oct 5, 2007 8:56am Oct 5, 2007 8:56am
..went short before news at 2.0382 (10 standard lots) then KACHING and thought with number like that cable is one way and no turning back,i set my limit for 150pips an no SL then left...boy i just come back cant believe what happened ...i think i'm short of breath.later!
  • #34,302
  • Oct 5, 2007 9:11am Oct 5, 2007 9:11am
Quoting DutchTrader
FYI FMOC Meeting Minutes on Tuesday might be interesting. I see Aud at 91, Cad at 96
Good point, although Fed's statements are usually HARD to decode LOL...

"Inflation risks remain", "financial turmoil will take time to resolve"



Then the market goes the way it wants
  • #34,303
  • Oct 5, 2007 9:15am Oct 5, 2007 9:15am
Quoting cesarnc
Good point, although Fed's statements are usually HARD to decode LOL...

"Inflation risks remain", "financial turmoil will take time to resolve"



Then the market goes the way it wants


Thats why I love this game.
Just Trade It
  • #34,304
  • Oct 5, 2007 9:21am Oct 5, 2007 9:21am
Quoting Big Wave Rider
Thats why I love this game.
whatever
long term trading rocks
.
  • #34,305
  • Oct 5, 2007 9:23am Oct 5, 2007 9:23am
I am very interested in how these weekly candles are going to finish.

A doji star or a shooting star on the weekly could signal a bearish week,
a good strong bull candle on the daily might signal for a bullish monday
Just Trade It
  • #34,306
  • Oct 5, 2007 9:23am Oct 5, 2007 9:23am
Quoting Big Wave Rider
Thats why I love this game.
I think the market is going to price in a next cut from Fed. No matter the economic data and all... Just to spark an already needed massive correction...

Let's make no mistake. Euro at mid-41s is one DAMN ULTRA high level and 1.45 is an obvious target in case Fed cuts. I just don't think we will see this level without a cut and/or a hike from ECB....

Doubt remains: Will cable follow suit or will trade as disgustingly as it is trading lately?
  • #34,307
  • Oct 5, 2007 9:28am Oct 5, 2007 9:28am
trying to get back in my shoes, looks like the heat has settled now

Hello World!
  • #34,308
  • Oct 5, 2007 9:32am Oct 5, 2007 9:32am
Quoting bullrock
whatever
long term trading rocks
Thanks for opening my eyes. I'm floating with big pips, and i feel so calm.

Why? Because i look at the daily chart, and i don't see a DAMN thing to close my position lool, and the way ahead looks so big, until further notice.

Of course, the ultimate decision to change was mine. But your good opinion about the dailies was the last nail in my new "home".

After this crazy spike today, where millions got killed, i must say... i feel good!



PS: Next step... how to have a floating position with 5000 pips like Bravado. Oh what a dream LoL.
  • #34,309
  • Oct 5, 2007 10:31am Oct 5, 2007 10:31am
Quoting cesarnc
I think the market is going to price in a next cut from Fed. No matter the economic data and all... Just to spark an already needed massive correction...

Let's make no mistake. Euro at mid-41s is one DAMN ULTRA high level and 1.45 is an obvious target in case Fed cuts. I just don't think we will see this level without a cut and/or a hike from ECB....

Doubt remains: Will cable follow suit or will trade as disgustingly as it is trading lately?
Good points. Both are at high levels, but the push from the late buying today could mean the top for a huge correction is still a little ways off (maybe nother 150 pips for cable?). Then again, price action is useless to read on a NFP day.

That's why it's wise to stay out unless you already have a position open, which was my case, and I closed for a non-greedy amount of pips on all pairs. If I hd been greedy, I would be in the red now.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #34,310
  • Oct 5, 2007 10:37am Oct 5, 2007 10:37am
Quoting Plutonite
Good points. Both are at high levels, but the push from the late buying today could mean the top for a huge correction is still a little ways off (maybe nother 150 pips for cable?). Then again, price action is useless to read on a NFP day.

That's why it's wise to stay out unless you already have a position open, which was my case, and I closed for a non-greedy amount of pips on all pairs. If I hd been greedy, I would be in the red now.

Not me I was in and out like 7 or 8 times "shoot left, shoot right"
like a drunken cowboy but I came out about 90 pips on top, could of had 120 but made one stupid decision.
Just Trade It
  • #34,311
  • Oct 5, 2007 11:01am Oct 5, 2007 11:01am
Quoting Big Wave Rider
Not me I was in and out like 7 or 8 times "shoot left, shoot right"
like a drunken cowboy but I came out about 90 pips on top, could of had 120 but made one stupid decision.
Well, consider yourself lucky, most NFP cowboys end up in the morgue
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #34,312
  • Oct 5, 2007 11:05am Oct 5, 2007 11:05am
Quoting Plutonite
Well, consider yourself lucky, most NFP cowboys end up in the morgue

Well then you can just call me John Wayne. There's a reason they call me the Duke.

Sorry but I cant type a John Wayne accent, but you can imagine

That was lame I know
Just Trade It
  • #34,313
  • Oct 5, 2007 11:38am Oct 5, 2007 11:38am
Quoting cesarnc
I think the market is going to price in a next cut from Fed. No matter the economic data and all... Just to spark an already needed massive correction...

Let's make no mistake. Euro at mid-41s is one DAMN ULTRA high level and 1.45 is an obvious target in case Fed cuts. I just don't think we will see this level without a cut and/or a hike from ECB....

Doubt remains: Will cable follow suit or will trade as disgustingly as it is trading lately?
Yup, pretty disgusting!

I got up for the NFP, saw the figures, didn't like the feel of the market, and went back to sleep (I had a few buy stops open, but only 0312 triggered - I forgot to add spread to my 0301 - lol). Remember, my 'feeling' was NFP better than expected, good revision, but market reacting opposite, and looks like that's what happened - I believe we have Bush to thank, in part, no? (I got to go catch up on my news, but, no offense to anyone, anytime that guy opens his mouth, $$$ goes jumping off a bridge).

My amateur guess as to why the market is reacting like this? (and please, feel free to discuss it and correct me if I'm wrong - this is just my simple, 'little people' take on it)
I think that, right now, with the housing as it is, rate cuts are seen as dollar-positive and strong NFP reduces the likelihood of another rate cut next month, which would then make strong NFP dollar-negative.
Does that make sense to anyone else or do I need to go get my head examined?
Cable is my sugardaddy
  • #34,314
  • Oct 5, 2007 11:45am Oct 5, 2007 11:45am
Quoting bohogirl
Yup, pretty disgusting!

I got up for the NFP, saw the figures, didn't like the feel of the market, and went back to sleep
That's the reason for a wild NFP today.

Thanks for your generosity bohogirl!!!
  • #34,315
  • Oct 5, 2007 12:11pm Oct 5, 2007 12:11pm
Quoting cesarnc
That's the reason for a wild NFP today.

Thanks for your generosity bohogirl!!!
Cable is my sugardaddy
  • #34,316
  • Oct 5, 2007 12:16pm Oct 5, 2007 12:16pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting bohogirl
renamed GBTB (gone back to bed)

means - to all please trade lots of lots now as market will be busy.
  • #34,317
  • Oct 5, 2007 12:31pm Oct 5, 2007 12:31pm
Okay I just placed my orders in for monday, Hope they get triggered during asia session so I can wake up monday morning and see myself in profit

Then I wont have to worry about which trade to get into and which direction. I will already be in it. I havn't placed an order for monday on a friday in some time. Thats a good sign
Just Trade It
  • #34,318
  • Oct 5, 2007 12:58pm Oct 5, 2007 12:58pm
Quoting MPP
renamed GBTB (gone back to bed)

means - to all please trade lots of lots now as market will be busy.
As you wish
Cable is my sugardaddy
  • #34,319
  • Oct 5, 2007 1:07pm Oct 5, 2007 1:07pm
Nice weekend to you all... I have to go out with the wife now.. Guess what SHOPPING!!!...

This is the same as "short cable 1 standard at 0301 today"

I'll be around during the weekend. I like to run possible scenarios during the weekend. THat was what saved my butt this week, after chewing that annoying drawdown in euro...
  • #34,320
  • Oct 5, 2007 1:24pm Oct 5, 2007 1:24pm
Few hours left before market close....

anybody have any idea for next coming Monday?
I'm still new with G/U
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