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Cable Update (GBPUSD)

  • #116,521
  • Jan 30, 2009 7:25am Jan 30, 2009 7:25am
I'm sitting out completely, I have no idea what to expect from this release.
"The trend is your friend, until the end."
  • #116,522
  • Jan 30, 2009 7:26am Jan 30, 2009 7:26am
Quoting ForexRookie
I'm sitting out completely, I have no idea what to expect from this release.
A wise man...
  • #116,523
  • Jan 30, 2009 7:27am Jan 30, 2009 7:27am
Quoting gammase1
A wise man...
Thank you bro . I think its always good to remember you have a third option other than from going long and short.
"The trend is your friend, until the end."
  • #116,524
  • Jan 30, 2009 7:31am Jan 30, 2009 7:31am
guys gdp was much better than expected. dont assume this will make the dollar stronger. remember risk aversion!!
  • #116,525
  • Jan 30, 2009 7:33am Jan 30, 2009 7:33am
scalping mode already close... and waiting again..
  • #116,526
  • Jan 30, 2009 7:33am Jan 30, 2009 7:33am
good news, so will this rally now?
  • #116,527
  • Jan 30, 2009 7:36am Jan 30, 2009 7:36am
Quoting blurrcow
that's a good Q... for me 6MA is higher than 23MA.. on my M15 that is..

still planning to be around when GBP goes to 1.35xx...

I guess trend wud be different for different people.. cheers

For me, cable is downtrend to 1.34xx... i still short....
  • #116,528
  • Jan 30, 2009 7:41am Jan 30, 2009 7:41am
My bias is also with the longer term downtrend, and this rally is just struggling with 3 tops here - ofcourse news could change all that ..
  • #116,529
  • Jan 30, 2009 7:41am Jan 30, 2009 7:41am
Quoting John Lo
For me, cable is downtrend to 1.34xx... i still short....
I second that. For some reason it just doesn't want to get going ...
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #116,530
  • Jan 30, 2009 7:41am Jan 30, 2009 7:41am
a raly would make most logical sense but with this market you never know. at the moment everything seems quite stationary. I imagine that a few people are thinking that since the news was good for the US that they should buy dollars and thats whats keepnig it at this level. Then hopefully (as a UK citizen with no open position) we could see a rally as people may remember that bad news in US has meant good news for the $ and vice versa.
  • #116,531
  • Jan 30, 2009 7:42am Jan 30, 2009 7:42am
Quoting PipLand
good news, so will this rally now?
Equity markets are still unsure over how to interpret the data, so too early to gauge the unfolding levels of risk aversion. However, given the sharp sell-off of yesterday, I would expect some positive sentiment, even if it's only in the shape of a relief rally.
  • #116,532
  • Jan 30, 2009 7:47am Jan 30, 2009 7:47am
Quoting gammase1
Equity markets are still unsure over how to interpret the data, so too early to gauge the unfolding levels of risk aversion. However, given the sharp sell-off of yesterday, I would expect some positive sentiment, even if it's only in the shape of a relief rally.
Thanx for the confirmation I was thinking that myself but wasnt sure. It certainly explains the none event I think everyone is bewildered at seeing good news for once
  • #116,533
  • Jan 30, 2009 7:48am Jan 30, 2009 7:48am
Quoting ntoller
a raly would make most logical sense but with this market you never know. at the moment everything seems quite stationary. I imagine that a few people are thinking that since the news was good for the US that they should buy dollars and thats whats keepnig it at this level. Then hopefully (as a UK citizen with no open position) we could see a rally as people may remember that bad news in US has meant good news for the $ and vice versa.
use the equity markets to gauge the market's reaction to the data.

1.32 percentage points of GDP was due to inventories in the quarter, which partially offset weak spending. This build-up of inventories is likely to adversely affect GDP in the first quarter.
  • #116,534
  • Jan 30, 2009 7:50am Jan 30, 2009 7:50am
Quoting PipLand
Thanx for the confirmation I was thinking that myself but wasnt sure. It certainly explains the none event I think everyone is bewildered at seeing good news for once
I thought cable would be the first to rally against the dollar but it appears to be the last
  • #116,535
  • Jan 30, 2009 7:53am Jan 30, 2009 7:53am
OK, triple top is not finished on 4H, but we've got a pin (or THE pin?)
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  • #116,536
  • Jan 30, 2009 7:58am Jan 30, 2009 7:58am
Doesn't look like this is going to rally anytime soon. Shorted at 4275.
Prices are never too high to begin buying or too low to begin selling.
  • #116,537
  • Jan 30, 2009 8:10am Jan 30, 2009 8:10am
strange to see no rally and very little movement. oh well back to technicals.
  • #116,538
  • Jan 30, 2009 8:11am Jan 30, 2009 8:11am
Quoting thehenryfam
Doesn't look like this is going to rally anytime soon. Shorted at 4275.
I hope you got your SL covered if it turns it could be a quick one
  • #116,539
  • Jan 30, 2009 8:12am Jan 30, 2009 8:12am
same here, shorted at 4275. 4250 is being a little stubborn.
  • #116,540
  • Jan 30, 2009 8:15am Jan 30, 2009 8:15am
Yes sir, I do.

Quoting PipLand
I hope you got your SL covered if it turns it could be a quick one
Prices are never too high to begin buying or too low to begin selling.
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