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Cable Update (GBPUSD)

  • #2,881
  • Dec 21, 2006 10:51am Dec 21, 2006 10:51am
Quoting Mama007
so quickly give us some advice on how to trade the philly fed please
Mama,

I'm going with what I see here. Stilll long to 9650...

Will check price activity @ 3 to go... Then make up my mind on this....

What you think?
  • #2,882
  • Dec 21, 2006 10:52am Dec 21, 2006 10:52am
I realize that, but you must an understanding of the currency you are trading even if your scalping for 5-10 pips.

When I say 200-300 pip channel - that does not constitue a long term trade, but looking at the borders of a channel will enable a trader to make more than 5-10 pips a day. On average this last week and last week, a trader should be making an easy 200 pips per week, just "taking the meat from the middle and leaving the bread on the table."

If your only looking past your nose for a trade, you might want to be more careful, and open your mind up to the bigger picture.

I personally (and I say personally) trade for 5-10 pips a lot of times, but I (always) have every time frame planted in my brain, trying to comprehend the place it has been, and the place it is going.

If I can keep an open mind to the currency, it will speak to me. If I only trade on the basis of a thread post, then my mind becomes cluttered with anothers opinion.

Please do not misunderstand my postings here. I am simply stating what I see happening, and merely trying to build a relationship with the GBP currency and it's moods.

Sounds like a marriage or something! LOL

Good Trading Folks, enjoy making your wonderful Pips for Christmas

Monarch



Quoting katzenhai2
Not everyone is a long term trader.
  • #2,883
  • Dec 21, 2006 10:54am Dec 21, 2006 10:54am
Quoting Mama007
so quickly give us some advice on how to trade the philly fed please
Mama,

Newstrading is off-topic for this thread...way-off topic. Also I provide information, not recommendations or advice because then if things go contrary, traders tend to blame the mailman, which in this case would be me.

With that said, FF predicts a lower number for the Philly which should translate into dollar weakness. In the context of this thread, Cable should bounce up (long) a wee bit.

Just information, not a recommendation.
  • #2,884
  • Dec 21, 2006 10:56am Dec 21, 2006 10:56am
[quote=monarch]I realize that, but you must an understanding of the currency you are trading even if your scalping for 5-10 pips.
Monarch

so your advice tomorrow is? from the London open?
mama
  • #2,885
  • Dec 21, 2006 10:58am Dec 21, 2006 10:58am
here we go....

loving Phillie so far...

News = -4.3 against +3.5 forecast
  • #2,886
  • Dec 21, 2006 10:59am Dec 21, 2006 10:59am
I think Katz may be a thread scalper.

I would hope anyone who makes a post in any thread would plan on staying there for long term!

Quoting katzenhai2
Not everyone is a long term trader.
  • #2,887
  • Dec 21, 2006 11:00am Dec 21, 2006 11:00am
Gosh... that guy's good!!!!
  • #2,888
  • Dec 21, 2006 11:00am Dec 21, 2006 11:00am
Negative for the dollar, will go long now and TP 1.9670 then wait for PCE
  • #2,889
  • Dec 21, 2006 11:02am Dec 21, 2006 11:02am
Hope you caught that quick spike of cable long; I had time to reply to Mama, and enter the trade on two different platforms for a quick profit. That's Newstrading, in quick, multiple lots, and out.
  • #2,890
  • Dec 21, 2006 11:03am Dec 21, 2006 11:03am
Quoting cesarnc
here we go....

loving Phillie so far...

News = -4.3 against +3.5 forecast
Please enlighten me, I really have difficulty with news. My analysis says that this should be bad for USD, thus GBP buy, am I correct
  • #2,891
  • Dec 21, 2006 11:04am Dec 21, 2006 11:04am
Now we return to our regularly scheduled program, already in progress....."T A, in the Forex World Today!"

That's how it works.
  • #2,892
  • Dec 21, 2006 11:05am Dec 21, 2006 11:05am
Quoting Fx1618
Please enlighten me, I really have difficulty with news. My analysis says that this should be bad for USD, thus GBP buy, am I correct
Bad for USD, yes. How bad? the market's gonna tell..

Looks like it only rushed price up, still within the channel, and half-way to go....
  • #2,893
  • Dec 21, 2006 11:06am Dec 21, 2006 11:06am
Quoting MoneyMa$ter
Hope you caught that quick spike of cable long; I had time to reply to Mama, and enter the trade on two different platforms for a quick profit. That's Newstrading, in quick, multiple lots, and out.
Thanks moneymaster for your reply

was unable to get in my platform froze !!! never mind tomorrow is another day - see you tomorrow for Franfurt and London open - any suggestions would be appreciated
thanks
mama
  • #2,894
  • Dec 21, 2006 11:06am Dec 21, 2006 11:06am
Some reason I dont think cable will go any lower then it did today untill it meets 9725. Then there I will decide to either go long or short again. but I just have a feeling its going to keep rising to 98 99.... lets see what happens
trading on demo is not trading
  • #2,895
  • Dec 21, 2006 11:09am Dec 21, 2006 11:09am
With all due respect Mama007, I have no advice to give you.

I think the last time you traded my ideas, you lost a lot of pips that day.

I do remember being the blame for your miserable trade positions, making me realize then how fragile ones trading habits may be.

I therefore have made no predicitions on this thread of my personal market analysis, but have set out only to give my opinion, which the last time I looked - I could do freely.

Monarch

My analysis on the GBP/USD is only my persoanl view. Thence it should only considered a "personal opinion" of the beholder. Please do not utilize this information for trading or for entering a Position.



[quote=Mama007]
Quoting monarch
I realize that, but you must an understanding of the currency you are trading even if your scalping for 5-10 pips.
Monarch

so your advice tomorrow is? from the London open?
  • #2,896
  • Dec 21, 2006 11:10am Dec 21, 2006 11:10am
Quoting Fx1618
Please enlighten me, I really have difficulty with news. My analysis says that this should be bad for USD, thus GBP buy, am I correct
FX1618,

There are threads in FF that are devoted to newstrading. Moderators frown on off-topic discussions. I advise you check out the newstrader threads for more detail.

To answer your question, you are correct. GBP actually started moving up at 11:50 am est, 10 minutes before the announcement. At noon, cable spike up an additional 10-13 points. It then retraced to "normal" price action, in the vicinity of 9615ish.

So you make money on the announcement. On large moves you can make additional money on the retracement (not much on this news item, but huge on NFP and others).

But please check out the newstrader threads for more info.
  • #2,897
  • Dec 21, 2006 11:10am Dec 21, 2006 11:10am
What Monarch says and what I am doing now is trading within this CHANNEL formed since last high.

See chart and post #2784. Try to draw this channel (blue) in your 4-hrs charts and go trading "having the channel's boundaries in mind". Do the same with last week session to have a mirror...

You don't have to place a long-term trade within the channel. Just go scalping its phases... little up, big down, so forth....

Got it?
  • #2,898
  • Dec 21, 2006 11:14am Dec 21, 2006 11:14am
Always - ALWAYS - check price activity to see if matches the strategy.... Do not do anything automatic....
  • #2,899
  • Dec 21, 2006 11:14am Dec 21, 2006 11:14am
Exactly how one should be trading right now, thanks Cesarnc.

Monarch

Quoting cesarnc
What Monarch says and what I am doing now is trading within this CHANNEL formed since last high.

See chart and post #2784. Try to draw this channel (blue) in your 4-hrs charts and go trading "having the channel's boundaries in mind". Do the same with last week session to have a mirror...

You don't have to place a long-term trade within the channel. Just go scalping its phases... little up, big down, so forth....

Got it?
  • #2,900
  • Dec 21, 2006 11:15am Dec 21, 2006 11:15am
[quote=monarch]With all due respect Mama007, I have no advice to give you.

I think the last time you traded my ideas, you lost a lot of pips that day.

I do remember being the blame for your miserable trade positions, making me realize then how fragile ones trading habits may be.

I therefore have made no predicitions on this thread of my personal market analysis, but have set out only to give my opinion, which the last time I looked - I could do freely.

Monarch

My analysis on the GBP/USD is only my persoanl view. Thence it should only considered a "personal opinion" of the beholder. Please do not utilize this information for trading or for entering a Position.



mama
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