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Cable Update (GBPUSD)

  • #104,121
  • Dec 4, 2008 5:24am Dec 4, 2008 5:24am
Quoting gammase1
Nice one Navin!

You closing before MPC decision?

I took small 20 pip scalp on short this morning, but am flat now....
yes i agreee with what yur saying im flat, last night i said to myself enough is enough...i set a conservative target cause u never know it may have bounced up..lets wait to see how the rate cut will work..
  • #104,122
  • Dec 4, 2008 5:25am Dec 4, 2008 5:25am
Quoting nAVIN2007
yes i agreee with what yur saying im flat, last night i said to myself enough is enough...i set a conservative target cause u never know it may have bounced up..lets wait to see how the rate cut will work..
whats happened to your position of last night?
When life gives you lemons, make lemonade
  • #104,123
  • Dec 4, 2008 5:25am Dec 4, 2008 5:25am
Quoting ady27
Good for you nAV

Crazy SL though....
yes it was....was risky but i felt direction was down, thx god it worked
  • #104,124
  • Dec 4, 2008 5:27am Dec 4, 2008 5:27am
Quoting malcolmb14
my question is why try to even trade GU in Asia ? typically it really only makes its moves in London and US session.

I see this as being a bear flag , with a breakdown of the flag hitting 1.4500 tonight in London session

Attachment


wanted to repost this .. text book flag for those newer traders out there

when you see these look for a drop the same length as the flag pole

I closed right on target 1.4500 ( had limit while sleeping) now flat going into rate news
Blogging daily now at www.volume.zone
  • #104,125
  • Dec 4, 2008 5:30am Dec 4, 2008 5:30am
Quoting micho
whats happened to your position of last night?
go back to pages bro..
  • #104,126
  • Dec 4, 2008 5:31am Dec 4, 2008 5:31am
Quoting malcolmb14
wanted to repost this .. text book flag for those newer traders out there

when you see these look for a drop the same length as the flag pole

I closed right on target 1.4500 ( had limit while sleeping) now flat going into rate news
it was a intersting point of view....made complete sense as well ..thank u for the heads up..
  • #104,127
  • Dec 4, 2008 5:35am Dec 4, 2008 5:35am
i personally think the non farm on friday will change everything...i think the figures for US will be so bad to gpb may make a recovery

dollar index to me look very border line to sink
  • #104,128
  • Dec 4, 2008 5:37am Dec 4, 2008 5:37am
I am going to Milano this weekend. But I will buy gbp/usd at 1,4500-15

It is overbought MACD and stochastic will should be at level 20-30 when closing gbp/usd later today (1,4550-80). And then stochastic is down from the short-term overbought.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.jpg Size: 101 KB
Twitter: Forexlivetrade - Buy: AFFI.CPH ISIN: DK0015966592 - target 12 DKK
  • #104,129
  • Dec 4, 2008 5:39am Dec 4, 2008 5:39am
Quoting malcolmb14
wanted to repost this .. text book flag for those newer traders out there

when you see these look for a drop the same length as the flag pole

I closed right on target 1.4500 ( had limit while sleeping) now flat going into rate news
Yeah i saw that analysis thanks very much for that
  • #104,130
  • Dec 4, 2008 5:42am Dec 4, 2008 5:42am
Quoting nAVIN2007
i personally think the non farm on friday will change everything...i think the figures for US will be so bad to gpb may make a recovery

dollar index to me look very border line to sink
ordinarily, i would expect USD to sink on terrible NFP data. but such bad data has, of late, caused the dollar (and yen) to appreciate, due to heightened risk aversion etc...
  • #104,131
  • Dec 4, 2008 5:48am Dec 4, 2008 5:48am
Quoting nAVIN2007
i personally think the non farm on friday will change everything...i think the figures for US will be so bad to gpb may make a recovery

dollar index to me look very border line to sink
nfp does not carry much impact lately.
In fact adverse results makes the dollar stronger
  • #104,132
  • Dec 4, 2008 5:48am Dec 4, 2008 5:48am
Quoting gammase1
ordinarily, i would expect USD to sink on terrible NFP data. but such bad data has, of late, caused the dollar (and yen) to appreciate, due to heightened risk aversion etc...

how about today's rate cut?
  • #104,133
  • Dec 4, 2008 5:51am Dec 4, 2008 5:51am
Quoting leu02cz
how about today's rate cut?
I think cable could initially rally should the rate cut be either in line or greater than expectations. This was how price action played out after last month's bigger than expected cut, with the markets rewarding the pro-active BOE. Conversely, I think the markets could punish sterling if the cut is less than expected, as this would be viewed as inaction from the MPC.
  • #104,134
  • Dec 4, 2008 5:53am Dec 4, 2008 5:53am
Quoting gammase1
I think cable could initially rally should the rate cut be either in line or greater than expectations. This was how price action played out after last month's bigger than expected cut, with the markets rewarding the pro-active BOE. Conversely, I think the markets could punish sterling if the cut is less than expected, as this would be viewed as inaction from the MPC.
thanks
  • #104,135
  • Dec 4, 2008 5:53am Dec 4, 2008 5:53am
Quoting leu02cz
how about today's rate cut?
If the cut is 1% i think it has been discounted.
We may even see the gbp stronger
  • #104,136
  • Dec 4, 2008 5:53am Dec 4, 2008 5:53am
Quoting gammase1
ordinarily, i would expect USD to sink on terrible NFP data. but such bad data has, of late, caused the dollar (and yen) to appreciate, due to heightened risk aversion etc...

yes yur right however i think the gbp level right now are very low and BOE may start to step in...we are seeing signs of this downtrend slowing down.. laughing cause u just cant bet against it
  • #104,137
  • Dec 4, 2008 5:56am Dec 4, 2008 5:56am
Quoting nAVIN2007
yes yur right however i think the gbp level right now are very low and BOE may start to step in...we are seeing signs of this downtrend slowing down.. laughing cause u just cant bet against it
Damned.....marketiva is forecasting a 0.5% cut
  • #104,138
  • Dec 4, 2008 5:57am Dec 4, 2008 5:57am
wohoo cable is rallying, come on cable up you go
  • #104,139
  • Dec 4, 2008 5:58am Dec 4, 2008 5:58am
Quoting gagakrimba
Damned.....marketiva is forecasting a 0.5% cut
dont' forget to sell it if it comes out worse than expected
  • #104,140
  • Dec 4, 2008 5:59am Dec 4, 2008 5:59am
Quoting PipLand
wohoo cable is rallying, come on cable up you go
A shortlived one
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