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Cable Update (GBPUSD)

  • #104,661
  • Dec 5, 2008 5:13am Dec 5, 2008 5:13am
Quoting alcando
Steelhead, You are hunting the buy now aren't you? Do you currently hold any shorts?
My pending short @ 4625 hit smallish s/l
  • #104,662
  • Dec 5, 2008 5:14am Dec 5, 2008 5:14am
Quoting alcando
Steelhead, You are hunting the buy now aren't you? Do you currently hold any shorts?

I am currently have no positions. Yes I am looking for buys lower lower.

Bring on NFP
  • #104,663
  • Dec 5, 2008 5:16am Dec 5, 2008 5:16am
Komissar, as a newbie please don't be tempted to take a trade now or immediately on the news item. It is the most damaging gamble you can take as the erratic spikes that it creates can smack your stops quicker than you can lick your chops.

Quoting Komissar
Thanks a lot. I am new, and trying to learn.
Ride the Bulls bearback!
  • #104,664
  • Dec 5, 2008 5:18am Dec 5, 2008 5:18am
Quoting gagakrimba
really ?
Yeah, I saw this http://www.bloomberg.com/apps/news?p...refer=currency
Give me patience
  • #104,665
  • Dec 5, 2008 5:20am Dec 5, 2008 5:20am
Quoting steelhead
I am currently have no positions. Yes I am looking for buys lower lower.

Bring on NFP
Thank you Steelhead. thats what I was thinking, but shes still on the fence a bit
  • #104,666
  • Dec 5, 2008 5:21am Dec 5, 2008 5:21am
Quoting alcando
Komissar, as a newbie please don't be tempted to take a trade now or immediately on the news item. It is the most damaging gamble you can take as the erratic spikes that it creates can smack your stops quicker than you can lick your chops.
Thanks again.
  • #104,667
  • Dec 5, 2008 5:22am Dec 5, 2008 5:22am
didnt realise i put my TP at 14621, and closed all

worth another sell?
PIPPED TO THE LINE
  • #104,668
  • Dec 5, 2008 5:27am Dec 5, 2008 5:27am
Cheers, Interesting articlae and seems to be a bit of common thinking on that about. I am suspecting an offload at this level but we can only wait and see... No point in get our shorts in a knot...


Quoting Bullfx
Yeah, I saw this http://www.bloomberg.com/apps/news?p...refer=currency
Ride the Bulls bearback!
  • #104,669
  • Dec 5, 2008 5:28am Dec 5, 2008 5:28am
Quoting trickytrader
didnt realise i put my TP at 14621, and closed all

worth another sell?
don't think so at the current juncture, current posture is too risky to take a short for good risk/reward ratio...give it time....things will be resolved accordingly
~*~You are only one trade away from humility~*~
  • #104,670
  • Dec 5, 2008 5:28am Dec 5, 2008 5:28am
She's gonna drop like shit now
I've PO long @ 1.4600
  • #104,671
  • Dec 5, 2008 5:33am Dec 5, 2008 5:33am
Quoting steelhead
http://www.tradingacademy.com/lesson...ed_article.htm


Fxchi put this in my journal a good little read. It should shed some light on this market and its manipulation to some on here.

Peace out
Thanks steelhead, first time I saw that perspective.
  • #104,672
  • Dec 5, 2008 5:34am Dec 5, 2008 5:34am
gaga she just rose 40+
  • #104,673
  • Dec 5, 2008 5:35am Dec 5, 2008 5:35am
The result so bad.
more than 50% worse than forcasted
  • #104,674
  • Dec 5, 2008 5:35am Dec 5, 2008 5:35am
Quoting Vourvoul
Thanks steelhead, first time I saw that perspective.

First time? I have been pounding that perspective in here for months.
  • #104,675
  • Dec 5, 2008 5:39am Dec 5, 2008 5:39am
Im in..Long @4635, SL 4575, First TP 4735, scale out therafter
  • #104,676
  • Dec 5, 2008 5:39am Dec 5, 2008 5:39am
Quoting gagakrimba
The result so bad.
more than 50% worse than forcasted
With result that bad how could usd remain strong ?
  • #104,677
  • Dec 5, 2008 5:39am Dec 5, 2008 5:39am
Quoting gmohata
Good point - though i believe NFP will be terrible and pound will be the loser (ironic).

Why will NFP be terrible - those who have followed the markets for years and have regularly read and understood the fundamentals - they know that numbers such as NFP are seldom real facts - they are more politically drawn and botched up with what the fed, treasury want the markets to react to. There is no more politics which can help anyone in the current administration - they obviously dont want to make it easy for the next team - so numbers will reflect the...
thank god - i can now trade another day knowing all the knowledge isnt that bad
  • #104,678
  • Dec 5, 2008 5:41am Dec 5, 2008 5:41am
Quoting steelhead
First time? I have been pounding that perspective in here for months.
I wasn't really paying attention to you
  • #104,679
  • Dec 5, 2008 5:42am Dec 5, 2008 5:42am
She starts freaky now !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #104,680
  • Dec 5, 2008 5:44am Dec 5, 2008 5:44am
Quoting gagakrimba
With result that bad how could usd remain strong ?
Come on man, it's quite a familiar pattern in the markets over the past few months, as and when worse than expected economic data is released. Dollar gains due to paring back of riskier overseas assets (repatriation of funds), further deleveraging, and a flight to so-called quality in the form of US treasuries.

Normal textbook economics do not apply at this point in time. They will return, in due course, but for now...
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