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Cable Update (GBPUSD)

  • #51,701
  • Feb 1, 2008 10:02am Feb 1, 2008 10:02am
UK manufacturing sector is already slumping into a recession.
  • #51,702
  • Feb 1, 2008 10:02am Feb 1, 2008 10:02am
plunge in gold is draggin eur and gbp down?
  • #51,703
  • Feb 1, 2008 10:05am Feb 1, 2008 10:05am
Quoting traderchan
plunge in gold is draggin eur and gbp down?
gold moves opposite to $, good trade, too bad I only trade the pound.....
  • #51,704
  • Feb 1, 2008 10:10am Feb 1, 2008 10:10am
Quoting AmeriTrini
gold moves opposite to $, good trade, too bad I only trade the pound.....
AUD and NZD seem to be unaffected by the plunge though
  • #51,705
  • Feb 1, 2008 10:11am Feb 1, 2008 10:11am
Quoting traderchan
AUD and NZD seem to be unaffected by the plunge though
strange, they should go down as well.
  • #51,706
  • Feb 1, 2008 10:14am Feb 1, 2008 10:14am
Quoting traderchan
AUD and NZD seem to be unaffected by the plunge though
Yes, too bad some people don't understand the reason why.
Humble Lifetime Member
  • #51,707
  • Feb 1, 2008 10:18am Feb 1, 2008 10:18am
Hey guys, the Malaysia thread has some members who wants to give classes in internet etiquette. I think some people here can learn from them......
  • #51,708
  • Feb 1, 2008 10:22am Feb 1, 2008 10:22am
Quoting Ash
I'll buy at 1.9712. If we ever get there.
dont be you made a bad trade, it happens.......
  • #51,709
  • Feb 1, 2008 10:23am Feb 1, 2008 10:23am
is there a war going on here?
  • #51,710
  • Feb 1, 2008 10:26am Feb 1, 2008 10:26am
Quoting traderchan
is there a war going on here?
just on this thread, I feel serenity when Im in the Malaysian room......

which is where Im going now, BYE!!!
  • #51,711
  • Feb 1, 2008 10:27am Feb 1, 2008 10:27am
i have been shorting since 1.9750 and 1.9850, i wanna hold on till 1.92 this time.
  • #51,712
  • Edited 10:29am Feb 1, 2008 10:28am | Edited 10:29am
Quoting AmeriTrini
dont be you made a bad trade, it happens.......

Got in 1.9606 when it went up to 1.9621, placed a S/L @ 1.9616. :
Humble Lifetime Member
  • #51,713
  • Feb 1, 2008 10:29am Feb 1, 2008 10:29am
Quoting Ash
Got in 1.9606 when it went up to 1.9621, placed a S/L @ 1.9616. :
1.9606?
  • #51,714
  • Edited 10:31am Feb 1, 2008 10:30am | Edited 10:31am
Quoting AmeriTrini
1.9606?
Yeah, why? sorry, 1.9706 S/L @ 1.9716.
Humble Lifetime Member
  • #51,715
  • Feb 1, 2008 10:38am Feb 1, 2008 10:38am
Quoting Ash
Yeah, why? sorry, 1.9706 S/L @ 1.9716.
you may be right, but I'll wait to confirm.
  • #51,716
  • Feb 1, 2008 10:41am Feb 1, 2008 10:41am
Call it a day..time to go to bed.Good luck y'all.Cheers
  • #51,717
  • Feb 1, 2008 10:45am Feb 1, 2008 10:45am
Quoting AmeriTrini
you may be right, but I'll wait to confirm.
you can call up my broker, MB Trading and ask them if the prices ever did.

I would be careful, if you're looking to pick a fight. You will get burned.
Attached Image (click to enlarge)
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Humble Lifetime Member
  • #51,718
  • Feb 1, 2008 10:47am Feb 1, 2008 10:47am
One other interesting thing I have noted with some big announcements, since wednesday evening UK time, the markets have been ranging up and down from 1.98-1.99. I noticed we were getting higher lows in succession. The market was waiting for the figures but cable was going up slowly but surely. What I have noticed when this is happening right before or after the announcement the market go's in the opposite direction (down in this case) and if there is not enough momentum it will go back up. But in todays case it went for gold all the way down even with very weak NFP figures.

Traders closing their positions before the big announcements seems to help trigger a domino affect.

Anymore enlightenment from other traders?
Attached Image (click to enlarge)
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  • #51,719
  • Feb 1, 2008 10:55am Feb 1, 2008 10:55am
Why is everyone so confused? NFP came out negative first.. GU, EU, etc.. all went up.. and then previous numbers were revised by a huge (and ridiculous) number.. $ jumped back.

Not sure why everyone is trying to come up with so many explanations? It's a known fact.. always watch out for revisions.. they completely reverse the trade.
  • #51,720
  • Feb 1, 2008 10:55am Feb 1, 2008 10:55am
Quoting AmeriTrini
All I know is that the Fed cut interest rates by 1.25% in less than a week and the pound didnt react as much as expected, lets face it, interest rates run the curency markets and if we didnt see a big move up for the pound, then it leads me to believe that in the short term, the dollar will see STRENGTH!! Im am selling to at least 1.9650 and then we go back up!.
Man that was a good call yesturday ,i sold with you you this morning,since we were seeing the same thing

Im gonna have to start sending you commission,looking for a buy soon now
On-site guru & also FF member's' psychiatrist, when not drinking tea
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