I am all set now, I put sell orders @ 1.7844 and 1.7850 and see what happens 
Cable Update (GBPUSD)
- #86,223
- Sep 7, 2008 4:23pm Sep 7, 2008 4:23pm
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
i think the non farm result was meant it make peaple buy sterling more and but people are to caught up in this downtrend......we have to retrace up sometime and some guy made a speech on saturday and people now buying sterling......
something changed to produce this gap...its changed the weekly perpective....i think
- #86,225
- Sep 7, 2008 4:37pm Sep 7, 2008 4:37pm
- Joined May 2008 | Status: "One for all, and all for one" | 11,228 Posts
Looks like the market didn't like the Fannie Mae Freddie Mac info. Let's see how it turns out now!
Just digging in the trenches like everyone else!
This seems truly bizarre to me....why would the dollar be down bigtime on the gap against the yen, but reacting completely the opposite against the euro and the pound?? I haven't doing this for a long time, and I can recall sundays w/ large gaps. But it's always seemed that if a currency's down...it's down against everyone, and if news has it moving up...it's up against everyone. This just seems whacky to me. Who's getting it totally right/wrong??
- #86,227
- Sep 7, 2008 4:40pm Sep 7, 2008 4:40pm
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
I'm sure the gap has come from the announced takeover of fannie mae & freddie mac by the usa govt....bailing them out to the the tune of supposedly 25billion. What i'm not getting is why the news is not pushing all the usd pairs in one direction or another. These big boys have (i'd think) determined whether or not they view this occurrence as a positive or a negative. It is a major deal, but it wouldn't seem like you'd think it was a positive in some situations and a negative with another. I wouldn't have been shocked to see a big reaction EITHER way...and i'd trade accordingly. To have it look like it's being taken to the extreme both positively & negatively really kinda freaks me out. I'm damn glad i took my short profit on Fri. afternoon though. I was thinking my short at 7710 might be as good a sell number as i'd see if it really started to tumble, and now this. I think i need a drink!!
- #86,229
- Sep 7, 2008 4:43pm Sep 7, 2008 4:43pm
- Joined May 2008 | Status: "One for all, and all for one" | 11,228 Posts
Just digging in the trenches like everyone else!
I'm sure the gap has come from the announced takeover of fannie mae & freddie mac by the usa govt....bailing them out to the the tune of supposedly 25billion. What i'm not getting is why the news is not pushing all the usd pairs in one direction or another. These big boys have (i'd think) determined whether or not they view this occurrence as a positive or a negative. It is a major deal, but it wouldn't seem like you'd think it was a positive in some situations and a negative with another. I wouldn't have been shocked to see a big reaction EITHER way...and i'd trade accordingly. To have it look like it's being taken to the extreme both positively & negatively really kinda freaks me out. I'm damn glad i took my short profit on Fri. afternoon though. I was thinking my short at 7710 might be as good a sell number as i'd see if it really started to tumble, and now this. I think i need a drink!!
Similarly on this news dollar would go bear (heavily) against Euro/GBP but this move could be limited around 1.7850 as it has already 185 pips as a huge gap from 1,7660...
So do you understand now why U/J is going opposite of G/U and E/U
- #86,234
- Sep 7, 2008 4:53pm Sep 7, 2008 4:53pm
- Joined Mar 2008 | Status: Fooled by randomness | 8,364 Posts
When life gives you lemons, make lemonade
- #86,237
- Sep 7, 2008 4:56pm Sep 7, 2008 4:56pm
- Joined Mar 2008 | Status: Fooled by randomness | 8,364 Posts
yup 
When life gives you lemons, make lemonade
well im in two short orders now for cable haha.... put a gun to my head?