"Trade for sake of trading & not for winning or Lossing"
- #8,083
- Mar 12, 2007 4:49am Mar 12, 2007 4:49am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
- #8,084
- Mar 12, 2007 5:07am Mar 12, 2007 5:07am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Getting out of the swamp? 
[CABLE] has been given another boost after UK data saw core output prices pick up further than expected, representing some fairly inflationary figures. The headline is now looking on target to trip the 1.9410 stops that are said to be building. Earlier strength was boosted on Eastern European CB demand in Gbp/Yen which is now approaching the key 230.00. Gbp strength has been further highlighted in the Eur/Gbp cross having edged lower towards the key 0.6770 stops loss area on US investment bank sales. The pick up in the return to yield plays has helped underpin the Pound, with fresh longs seen entering the market in early trade and boosting the renewed upward bias. Technical signals suggest a run higher towards 1.9412-30 now appears yo be underway, with further gains towards 1.9448-71 a possibility as bullish momnetum picks up
[CABLE] has been given another boost after UK data saw core output prices pick up further than expected, representing some fairly inflationary figures. The headline is now looking on target to trip the 1.9410 stops that are said to be building. Earlier strength was boosted on Eastern European CB demand in Gbp/Yen which is now approaching the key 230.00. Gbp strength has been further highlighted in the Eur/Gbp cross having edged lower towards the key 0.6770 stops loss area on US investment bank sales. The pick up in the return to yield plays has helped underpin the Pound, with fresh longs seen entering the market in early trade and boosting the renewed upward bias. Technical signals suggest a run higher towards 1.9412-30 now appears yo be underway, with further gains towards 1.9448-71 a possibility as bullish momnetum picks up
- #8,085
- Mar 12, 2007 5:24am Mar 12, 2007 5:24am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Said the same in the other thread about cable:
It may sound naive but I don't believe in bigger corrections today (unless you are a high risk scalper). Everyone is buying now for at least to 61.8% (9460-9470). I don't think that anyone is so risk averse to sell before this target is reached, because of the last week side movements. Anyone is happy to have a direction to follow.
78% (or 76.4%? Whats true? I see these two numbers everywhere) is a possibility, but that would be >200 pips for a day. We will see. I will not take the risk to trade from 61.8 to 78%. If the market reachs the price there above I will ging short. Thats safer.
It may sound naive but I don't believe in bigger corrections today (unless you are a high risk scalper). Everyone is buying now for at least to 61.8% (9460-9470). I don't think that anyone is so risk averse to sell before this target is reached, because of the last week side movements. Anyone is happy to have a direction to follow.
78% (or 76.4%? Whats true? I see these two numbers everywhere) is a possibility, but that would be >200 pips for a day. We will see. I will not take the risk to trade from 61.8 to 78%. If the market reachs the price there above I will ging short. Thats safer.
- #8,087
- Mar 12, 2007 5:29am Mar 12, 2007 5:29am
- Joined Sep 2006 | Status: Trader | 2,272 Posts
its just money
- #8,088
- Mar 12, 2007 5:36am Mar 12, 2007 5:36am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Said the same in the other thread about cable:
It may sound naive but I don't believe in bigger corrections today (unless you are a high risk scalper). Everyone is buying now for at least to 61.8% (9460-9470). I don't think that anyone is so risk averse to sell before this target is reached, because of the last week side movements. Anyone is happy to have a direction to follow.
78% (or 76.4%? Whats true? I see these two numbers everywhere) is a possibility, but that would be >200 pips for a day. We will see. I will not take the risk to trade from 61.8 to 78%. If the market reachs the price there above I will ging short. Thats safer.
I don't think 78,6% is on the cards for the day. But the dreaded channel was broken, pushed by GB fundamentals and Euro going up again. Dollar being sold across the board, as it seems...
As Europe Equity market is doing well today, NYSE may go along and that would provide the good and long-wanted prop.
This huge selloff was propped by the carries selloff, it wasn't fundamental driven to assume Cable's value should be below 9300s. I'm confident that carries being bought back will takes us back to, why not?, 666 again in the course of this week.
- #8,089
- Mar 12, 2007 5:38am Mar 12, 2007 5:38am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
- #8,091
- Mar 12, 2007 5:43am Mar 12, 2007 5:43am
- Joined Sep 2006 | Status: Trader | 2,272 Posts
its just money
- #8,092
- Mar 12, 2007 5:51am Mar 12, 2007 5:51am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
its all so fucked up,..i mean the result came out on the same day the dolar good news out, so now i know why it didnt went down to 222,....this is the way they get the liqudity ha?....one news where the dolar is short term bulish and the other news, where the pound is long term bulish,...and ofcourse some bets are expired, and there u go...im not celebrating until 50-100k+ on my account, then ill come to rio to visit you, hope carnevals will still be there, and that i wont need viagra...lol
- #8,093
- Mar 12, 2007 5:56am Mar 12, 2007 5:56am
- Joined Sep 2006 | Status: Trader | 2,272 Posts
its just money
- #8,095
- Mar 12, 2007 6:43am Mar 12, 2007 6:43am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
- #8,097
- Mar 12, 2007 6:56am Mar 12, 2007 6:56am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Now this move makes sense............I was wondering.
Too bad carries came in the opposite direction. In the lack of fundamentals for next days, I fear for resumption of ranging market - 9390s 9430s....
Euro, in the other hand, is back attempting against good resistance 3180. If breached, exposes low 3200. As I stated previously, Euro may be a safe boat to sail, for the risk averses...
- #8,098
- Mar 12, 2007 7:25am Mar 12, 2007 7:25am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Was anyone hoping this would be a smooth day to trade?
