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Cable Update (GBPUSD)

  • #64,741
  • May 8, 2008 6:16am May 8, 2008 6:16am
lets see if Trichet is a HAWK and props up this cable!!!!


  • #64,742
  • May 8, 2008 6:18am May 8, 2008 6:18am
Quoting ciscoguy
Nav, when they cut the rate, it's bad for the currency. If they raise the rate, it's good for the currency. Lowered interest rates ad inflation risk by increasing payrolls, etc. It is also a sign that the economy maybe is not doing very well. As an economy rebounds and gets better, the Central bank raises rates over and over again to slow the growth, and to ad a buffer for the eventual fall. There is A LOT more to this, but a forum just isn't the place for a long drawn out explaination.

Hope this helps,
C

thanks man ...great explanation ..
  • #64,743
  • May 8, 2008 6:21am May 8, 2008 6:21am
Quoting AmeriTrini
lets see if Trichet is a HAWK and props up this cable!!!!


Trichet all talk and no action isnt he!!

if he ultra hawksih could also push up Eurosterling subdueing up move in cable...
Trading is 80% Emotional, 20% Technical
  • #64,744
  • May 8, 2008 6:28am May 8, 2008 6:28am
a close under the weekly pivot will convience me to short..otherwise its still looking long and will only take the long if we pass the 62 ema

this is death trap ...
  • #64,745
  • May 8, 2008 6:30am May 8, 2008 6:30am
Quoting LuckyLurker
looks like it might of been priced.. I might get taken out at BE+5.. ohwell.. was worth it to hang on to it and see.
You're obviously still in the trade. I'm interested to know your thoughts if you will still continue to hold long now (with BE+5)or if you will close it earlier... TIA
  • #64,746
  • May 8, 2008 6:37am May 8, 2008 6:37am
Looks like unpredictable I close my long at 1.9580 from 1.9.565.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #64,747
  • May 8, 2008 6:38am May 8, 2008 6:38am
Quoting DJ4x
You're obviously still in the trade. I'm interested to know your thoughts if you will still continue to hold long now (with BE+5)or if you will close it earlier... TIA
I'm staying in because of discipline. If it takes me out, there will be another opportunity just like this again where staying in will pay out 10 fold.
USD Est Non Mortuus
  • #64,748
  • May 8, 2008 6:39am May 8, 2008 6:39am
Quoting LuckyLurker
I'm staying in because of discipline. If it takes me out, there will be another opportunity just like this again where staying in will pay out 10 fold.

good job
hope it goes yur way ..
  • #64,749
  • May 8, 2008 6:41am May 8, 2008 6:41am
Quoting LuckyLurker
I'm staying in because of discipline. If it takes me out, there will be another opportunity just like this again where staying in will pay out 10 fold.
excellent way of thinking lucky lurker!

i went long again at 9570 stop 9530, tp 9648 i will either be stopped out or my tp will be reached, that simple
  • #64,750
  • May 8, 2008 6:45am May 8, 2008 6:45am
good luck with ur longs
because i mean 4h candle is looking bearish so far
but if ur longs work out then u would have nailed the entry
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #64,751
  • May 8, 2008 6:48am May 8, 2008 6:48am
ECB leaves rates unchanged

if the ECB continue with their bad statements they will never be taken seriously anymore

i remember the last time trichet talked he looked like he had a one sided mind
which is not a good quality for the chairman of the ECB.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #64,752
  • May 8, 2008 6:52am May 8, 2008 6:52am
Quoting salah k.
good luck with ur longs
because i mean 4h candle is looking bearish so far
but if ur longs work out then u would have nailed the entry
we didnt get a morning star but there is a rounded bottom ...potential reversal signal ..problem is no way to know for sure
  • #64,753
  • May 8, 2008 6:53am May 8, 2008 6:53am
Quoting salah k.
ECB leaves rates unchanged

if the ECB continue with their bad statements they will never be taken seriously anymore

i remember the last time trichet talked he looked like he had a one sided mind
which is not a good quality for the chairman of the ECB.
one thing about trichet is that he a tough central banker, sticks to his inflation mandate, best bwanker around
Trading is 80% Emotional, 20% Technical
  • #64,754
  • May 8, 2008 6:55am May 8, 2008 6:55am
Quoting tomaz55
excellent way of thinking lucky lurker!

i went long again at 9570 stop 9530, tp 9648 i will either be stopped out or my tp will be reached, that simple
pulling for you too!
USD Est Non Mortuus
  • #64,755
  • May 8, 2008 7:01am May 8, 2008 7:01am
im happy, i got back what i lost the other day!
  • #64,756
  • May 8, 2008 7:04am May 8, 2008 7:04am
Quoting LuckyLurker
pulling for you too!
Cable seems to be trending downward. Is downward risk more than upward with cable? That's what all the big analysts are saying.
Expected the unexpected
  • #64,757
  • May 8, 2008 7:04am May 8, 2008 7:04am
After announcment on 15M lows are still going higer. If it closes and opens above the DP and stays there I am going long again. Got stop out +10 from 1.9538
  • #64,758
  • May 8, 2008 7:07am May 8, 2008 7:07am
Quoting scyang
Cable seems to be trending downward. Is downward risk more than upward with cable? That's what all the big analysts are saying.
Could go either way of course. My Bias is Bullish till the end of the day. But I'll add I'm kinda starting to expect to be taken out at be+5. Not a big deal though.
USD Est Non Mortuus
  • #64,759
  • May 8, 2008 7:12am May 8, 2008 7:12am
cable stil in wedge formation, will short after successfull break of trendline support, seems to be holding up around 19500 area, otherwise buy dips, notice 4hour stochs very sold - should provide some underlying bid tone
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Trading is 80% Emotional, 20% Technical
  • #64,760
  • May 8, 2008 7:15am May 8, 2008 7:15am
No more trades for me today, more than happy with the way things developed.

At the moment I wouldn't even know which direction to look for a trade, very undecided. When in doubt, stay out.

See ya tomorrow guys, good luck
The quality of your life is brought about by the quality of your thinking.
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