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Cable Update (GBPUSD)

  • #6,301
  • Feb 18, 2007 10:03pm Feb 18, 2007 10:03pm
[quote=pipology-101;221325]well the fading on that asian spike was pure luck coz normaly it would have gone up up till london-

I thank you for the acknowledgement of my "luck". I acknowledge your superior ability to set long term rules for the market, of course they will follow your rules. If I disageed with you I would not have taken my profits short. My original discussion was reference the gap opening. What are you refering to? I have my opinion, please state yours, then we can discuss. I want to learn.

Thanks
Brad
  • #6,302
  • Feb 18, 2007 10:07pm Feb 18, 2007 10:07pm
Quoting Bradone
What is quick profit? I just took 18 pips in a few minutes. If you are going to ask a chat forum you cannot scalp. This is not a chat. I rarely scalp but went short cable and it reversed so quick my beginning days trading came back and I just took profit. Old habits. Now I will go to bed and it will be 200 pips lower, guess what, I will be happy with 18. The market never runs out of opportunities. If you can't read long term but read short term, take it. When you read long term, trust it and ride but at least exit with short term scalp goals b4 all is lost. You will have lost nothing. Your account will grow as long as you don't get greedy. JMHO

Brad
Hi Bradone, first I want to say thanks for hte post. Secondly, I agree with what you said about taking what the market will give you. The reason I had asked about the gap was the fact that it was the first time I had really encountered one throughout my trading career so far. And your right that the market does never run out of opportunities. Thanks for the thought provoking post.
I dream, therefore I become.
  • #6,303
  • Feb 19, 2007 3:25am Feb 19, 2007 3:25am
since its SO quite...i heard something about someones birthday, so its a boring week ahead, only wednesday there will be some volatility,...
Japan will most likely rase the rates,..thats what Barclays says, but even they arent sure 100% they are gona do it,...are u?...

forgot to mention, their headlines goes--> The end of carry trades?...No we dont think so,..
its just money
  • #6,304
  • Feb 19, 2007 3:32am Feb 19, 2007 3:32am
What do i need to talk to my self??

quote, my brokers opinion...

1. GBPJPY - Sell rallies towards resistance at 234.30, stop bid at 234.80. The pair broke the 55 day moving average on Wednesday, giving scope for more downside. Support. 231.85. Resistance: 234.30.

2. USDJPY - Buy a strangle.

What does strangle means???
its just money
  • #6,305
  • Feb 19, 2007 3:45am Feb 19, 2007 3:45am
Quoting de123
What do i need to talk to my self??

quote, my brokers opinion...

1. GBPJPY - Sell rallies towards resistance at 234.30, stop bid at 234.80. The pair broke the 55 day moving average on Wednesday, giving scope for more downside. Support. 231.85. Resistance: 234.30.

2. USDJPY - Buy a strangle.

What does strangle means???


No idea
  • #6,306
  • Feb 19, 2007 3:49am Feb 19, 2007 3:49am
Quoting de123
What do i need to talk to my self??

quote, my brokers opinion...

1. GBPJPY - Sell rallies towards resistance at 234.30, stop bid at 234.80. The pair broke the 55 day moving average on Wednesday, giving scope for more downside. Support. 231.85. Resistance: 234.30.

2. USDJPY - Buy a strangle.

What does strangle means???
Probably means when you buy the USD/JPY you feel like strangling yourself because you listened to your broker. LOL -

I have many trades like that.

N2FX
  • #6,307
  • Feb 19, 2007 3:52am Feb 19, 2007 3:52am
Quoting de123
What does strangle means???
Maybe this will help

http://www.google.com.br/search?hl=p...a+Google&meta=
  • #6,308
  • Feb 19, 2007 3:56am Feb 19, 2007 3:56am
i found it, thx for help

http://www.investopedia.com/terms/s/strangle.asp

it means to hedge positions,...what a stupid broker i have,...he would like me to strangle,...

ok lets get back to analise,...if he wonts to strangle USD, that means he wonts to either BUY it or sell it, but he wonts to sell GBP against JPJ, so that means he (my broker) think the best way to trade cable is ...

To SELL GBP and either BUY or sell USD, so he is saying to go short on CABLE right?...and if Henry indicator still here thats whats going to happen,...

yes, thats not ours analise, thats my brokers opinion!
its just money
  • #6,309
  • Feb 19, 2007 4:09am Feb 19, 2007 4:09am
Quoting de123
i found it, thx for help

http://www.investopedia.com/terms/s/strangle.asp

it means to hedge positions,...what a stupid broker i have,...he would like me to strangle,...

ok lets get back to analise,...if he wonts to strangle USD, that means he wonts to either BUY it or sell it, but he wonts to sell GBP against JPJ, so that means he (my broker) think the best way to trade cable is ...

To SELL GBP and either BUY or sell USD, so he is saying to go short on CABLE right?...and if Henry indicator still here thats whats going to happen,...

yes, thats not ours analise, thats my brokers opinion!
Looks like he MUST tell you something, so he tells you: "Sell if the price goes down or Buy if it goes up"...
  • #6,310
  • Feb 19, 2007 4:21am Feb 19, 2007 4:21am
yee...maybe thats not stupid afterall,...but he forgot to mention 2 ifs,...he doesnt really care for anything else then those provisons,...do u know how much i have paid to them,...1300 usd in 4 month for just provisons from me,....i was a good scalper ...lol...and still he wonts more,...maybe he wonts 1300 per 4 month, thats 5200 usd per year...ofcourse he always win...
its just money
  • #6,311
  • Feb 19, 2007 4:23am Feb 19, 2007 4:23am
TPed 9464, calling it a day.

80pips + BBQ + Beer= perfect Carnival Monday...
  • #6,312
  • Feb 19, 2007 4:25am Feb 19, 2007 4:25am
BTW, its being a GBPJPY move...100+ pips move so far....

This week maybe all about yen carries.EUR and USDJPY almost unchanged...
  • #6,313
  • Feb 19, 2007 4:31am Feb 19, 2007 4:31am
Sorry, it was't a yen carry move:
[GBP/USD] is lower following the host of BOE comments. Cable has returned to sub 1.9500 levels and down over half a cent as the BOE notes that some depreciation of the real effective exchange rate will probably be necessary. This comment looks to have been the catalyst, but the CB also added the current account deficit will probably need to close and that CPI has been low and unusually stable. Stops have been tripped on the moves through 1.9500 and 1.9460/65. On the crosses, the Pound is also lower, with major support giving out in the Euro through 0.6743/50, while Gbp/Jpy has broken below 232.50.

The [BOE] said that the UK CPI has been low and unusually stable since infl targeting began and that the infl environment is unlikely to be so benign in the future. On money supply data, the CB noted that it would be unwise to ignore the data entirely. At some stage, the BoE notes that the current account deficit will probably need to close with some depreciation of the real effective exchange rate probably necessary. It is also possible that a period of sharply appreciating asset prices may raise risk of future correction. BoE policymakers may hence raise rates and undershoot CPI target in the n/t o to mitigate such risks. In terms of debt, secured debt can be expected to to continue growing strongly for many years to come. Some aspects of the global economy look unsustainable such as c/a imbalances and low interest rates.
  • #6,314
  • Feb 19, 2007 5:01am Feb 19, 2007 5:01am
LONDON, Feb 19 (Reuters) - Sterling fell sharply against the dollar and hit a six-week low against the euro on Monday after the Bank of England said some depreciation of the real exchange rate would probably be necessary.
"For a start the BoE definitely do not want the market to take aggressive interpreration of where rates are going to be," UBS currency strategist Adam Myers said. "The real effective exchange rate is their number one estimate for imported inflation."
By 1023 GMT, sterling had fallen some 70 ticks to a six day low of $1.9444 <GBP=>. Against the euro it hit a six-week low of 67.55 pence <EURGBP=>.

http://investing.reuters.co.uk/news/...ArticlePage1-3
  • #6,315
  • Feb 19, 2007 5:02am Feb 19, 2007 5:02am
Quoting BRForex
LONDON, Feb 19 (Reuters) - Sterling fell sharply against the dollar and hit a six-week low against the euro on Monday after the Bank of England said some depreciation of the real exchange rate would probably be necessary.
"For a start the BoE definitely do not want the market to take aggressive interpreration of where rates are going to be," UBS currency strategist Adam Myers said. "The real effective exchange rate is their number one estimate for imported inflation."
By 1023 GMT, sterling had fallen some 70 ticks to a six day low of $1.9444 <GBP=>. Against the euro it hit a six-week low of 67.55 pence <EURGBP=>.

http://investing.reuters.co.uk/news/...ArticlePage1-3

Thanks... You from Brazil, too?
  • #6,316
  • Feb 19, 2007 5:13am Feb 19, 2007 5:13am
Quoting cesarnc
Thanks... You from Brazil, too?
yes, from Rio de Janeiro.
  • #6,317
  • Feb 19, 2007 5:14am Feb 19, 2007 5:14am
Quoting BRForex
yes, from Rio de Janeiro.
  • #6,318
  • Feb 19, 2007 7:31am Feb 19, 2007 7:31am
To Henrycarol...i see u, pls advise if u will stop shorting, and will go to the long side,...or u still see 1.888 on your charts?
its just money
  • #6,319
  • Feb 19, 2007 7:32am Feb 19, 2007 7:32am
nice comments
  • #6,320
  • Feb 19, 2007 7:38am Feb 19, 2007 7:38am
Honestly guys the way Gold is looking and the way everything is looking i think we are in for an up trend.

The big move down was just an over reaction to a news release it was not technical the whole market was long on the Pound before that point. I am really confident we will see an upside reversal and it will continue in the direction it was headed.

I was long 15 lots and as soon as I read that report I took out 15 lots and threw in 5 on a short and accumulated over 200 pips.

Right now I am really considering entering my 15 lots again in a long position.

By the way inflation is not exactly low it is just lower... Anyway more analysis is needed I will look into the devloping situation.
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