Cable Update (GBPUSD)

at 2.0366 ppl start using stop looses so it went to 2.06,...

did they live happily ever after?

they no longer trading.

get ready for another choopy week.

Target fixation will kill you for sure.

I had a mate, who wanted a 10K+ account, he got to $9.980 or something never saw 10K, and held the same position huge leverage all the way down to margin called

When you wake up realising, your stupid and you don't know any better than anyone else then your a good trader!!

so whos next?

actually bro
everyone is seeing the picture ur painting
housing credit.....

well i kinda think it cant go any worse. thats y i dont agree with u.
anyway time will tell
if im mistaken then i will find out what i have done wrong.

good luck bro

The Fed pays very close attention to the PCE data as it relates to setting interest rate and monetary policy. The Fed uses the PCE data to gauge overall inflation in the consumer sector.

If we're being honest, that piece of data should be over-the-top USD+. If the Fed is done cutting rates as I think they are, surely we'll need to see the truth starting to be told here... based on my own research and data, inflation is running wild like a freight train thats lost its breaks...

I estimate true inflation to be running anywhere from 7.5% to as high as 10%. Sooner or later the Fed will be unable to continue lying to the markets about inflation and the truth will have to be revealed and reflected in the data.

The cost of rice is up almost 90% year-over-year. The price for staple dairy products has risen anywhere from 25% to over 50% year-over-year. The price of wheat is up over 90%. And then there's the cost of fuel which is wreaking havoc on the U.S. consumer. Not just the consumer but also in the trucking and shipping industry.

Our truckers are getting squeezed by disgusting diesel costs. The majority of food products in the major supermarket retail chains are delivered by 18-wheelers. Now, in addition to the rising costs of food, food production, you add in the rising costs of what it takes to deliver the food to the supermarkets and you've got a recipe that is turning disasterous in the U.S. and other parts of the globe.

I'm sensing that the anger is starting to brew in the U.S. and it's just a matter of time before the Fed starts to turn its eye from credit and growth to the stiffling inflation situation. The average family cannot sustain if inflation keeps this pace. Real wages are not keeping up with real inflation. Our citizens that depend on social security benefits to survive are not seeing their monthly payments match, percentage wise, with what inflation is doing.

Do you see where this is going? I've given you some food for thought because I want you to think this through as you consider the market, trading

Now before you argue that inflation will RAISE rates think about it, it will in all corners of the globe not just the USA so where does that leave the dollar? same place it is now

no bro i have to argue
USA is feeling inflation more than any other country

and they cant do more for housing or credit crunch plus the problems US is facing are entering europe and they will slow growth dramatically in europe plus euro is killing their exports and the world wont cope with that.

on the other hand oil will not keep going higher
sooner or later profit taking will occur and we will see a huge selloff.

hence dollar might see some more selloff but we are near the bottom if we havent already bottomed out.

I agree with you.

It may be worth considering the big event tomorrow.
New Residential Sales In April 08
I’ve looked into the numbers on this release tomorrow so I know what to expect.
The estimated figure on Forex Factory of Sold & For Sale new homes is 522,000 and is in line with a falling trend which like the Existing homes numbers last week pretty much every Month have fallen .Last weeks Existing home sales came in pretty much on the money but considering that Figure was as low as the lowest Number in the last 12 months do not expect this number to be good.

New house sales for March were 526,000.Thats 8.5% below February Figure 574,000 and 36.6% below March 07 estimate of 830,000.
New Home sales 12 month average is 702,000 and last 4 month average is 579,000.
New Home Supplies 12 month average is 9.05 months and last 4 months is 10.75 months.
The Bottom Line On This Puppy Is Even If We Have The Forecasted Number ..
That Is Not Good For the US.

The dollar has not bottomed yet but I will trade my charts and ya'll trade yours and at the end of the week nothing will matter except paying the bills, weak or strong dollar it still pays the bills through forex

Anybody trading now?

not the gbpusd since it didn't give me an ideal setup, but I have been long on the gbpjpy since 204.35. Everything else on my charts looks confused.

yes

it will be another choppy week, grap your pips and run for the hills, another account blowing week.

Hi Moe,

What is the indication that make you say that this week will be a choppy week? Thanks.


--TNT--

whats happening here....good trader?? .....price done a 180, the blasted thing going up now