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Cable Update (GBPUSD)

  • #117,341
  • Feb 3, 2009 8:57am Feb 3, 2009 8:57am
Quoting JammerJams
best way to catch it still is to place pending just below current level...and wait for train downward..not a problem

never cry over missed pips....more always come our way..but do it safely is the trick.

once this report is given...then we will watch it go back to current trend..
the pending home sales report and reaction should be interesting....
  • #117,342
  • Feb 3, 2009 8:59am Feb 3, 2009 8:59am
will she go back to 1.41xx?
  • #117,343
  • Feb 3, 2009 9:00am Feb 3, 2009 9:00am
Quoting mackagawa81
will she go back to 1.41xx?

currently...the market is making movements on any news..if it is neutral..which is forecasted...

wow 6.3% rose..
  • #117,344
  • Feb 3, 2009 9:01am Feb 3, 2009 9:01am
Quoting mackagawa81
will she go back to 1.41xx?

u ask this like u think any1 in here knows the answer to this...
  • #117,345
  • Feb 3, 2009 9:02am Feb 3, 2009 9:02am
home sales up 6 percent instead of a forecast 0%
careful with trades
  • #117,346
  • Feb 3, 2009 9:02am Feb 3, 2009 9:02am
Quoting mackagawa81
will she go back to 1.41xx?
I believe we will eventually, but I also see nAVIN's 438x area, actually a little higher around 4397.
Just digging in the trenches like everyone else!
  • #117,347
  • Feb 3, 2009 9:06am Feb 3, 2009 9:06am
Quoting eohater
I believe we will eventually, but I also see nAVIN's 438x area, actually a little higher around 4397.
yes bro! 1.44 could send this baby down...lets see what she plans to do


im on BE looking for price indication to tell me further up..weekly looking for 1.48
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  • #117,348
  • Feb 3, 2009 9:11am Feb 3, 2009 9:11am
Quoting nAVIN2007
yes bro! 1.44 could send this baby down...lets see what she plans to do

1.44 look slike the perfect technical resistance with a possible h and s, the fact its the .618 retracement of 16 jan high and its a nice big juicy round number. however the extremely good home sales could send this flying. im in long but would have to see some good houlry price action before shorting
  • #117,349
  • Feb 3, 2009 9:11am Feb 3, 2009 9:11am
I will try get short about 1.45 for now long to 1.4495
  • #117,350
  • Feb 3, 2009 9:14am Feb 3, 2009 9:14am
I had warned you not to short the pound but to buy the dips indeed....

  • #117,351
  • Feb 3, 2009 9:15am Feb 3, 2009 9:15am
Quoting ntoller
1.44 look slike the perfect technical resistance with a possible h and s, the fact its the .618 retracement of 16 jan high and its a nice big juicy round number. however the extremely good home sales could send this flying. im in long but would have to see some good houlry price action before shorting
Can somebody explain to me why good home sales in the U.S. is strengthening the pound? I thought it would strengthen the dollar....

Thanks
  • #117,352
  • Feb 3, 2009 9:19am Feb 3, 2009 9:19am
Quoting MarkyBoy
Can somebody explain to me why good home sales in the U.S. is strengthening the pound? I thought it would strengthen the dollar....

Thanks
cause trading is about elimating noise and yur trading emotions....emotions cant change direction at key levels, im having more success now in my trading, (elimate the BS)...first step is to realise yur trading noise and try free yourself of the emotion..i know it isnt easy!

being on a demo also helps...lol
  • #117,353
  • Feb 3, 2009 9:19am Feb 3, 2009 9:19am
Quoting MarkyBoy
Can somebody explain to me why good home sales in the U.S. is strengthening the pound? I thought it would strengthen the dollar....

Thanks

look at the last 6 months. bad news for US ---> bad news for the pound
anything detrimental to the economy triggers risk aversion.
at the moment economic news in the US and the world are inversely correlated with the dollar
  • #117,354
  • Feb 3, 2009 9:20am Feb 3, 2009 9:20am
Quoting MarkyBoy
Can somebody explain to me why good home sales in the U.S. is strengthening the pound? I thought it would strengthen the dollar....

Thanks
the game now is to flush out all the shorts... only those with deeep pockets will prevail...
  • #117,355
  • Feb 3, 2009 9:21am Feb 3, 2009 9:21am
Quoting MarkyBoy
Can somebody explain to me why good home sales in the U.S. is strengthening the pound? I thought it would strengthen the dollar....

Thanks
simple, market forecasts in better than expected US data what will likely happen soon in Gb....beside the fact that the pound is way too beaten down in this market

it will fly soon, stay long on her...
  • #117,356
  • Feb 3, 2009 9:22am Feb 3, 2009 9:22am
5 min chart showing bearish diverg on MACD
  • #117,357
  • Feb 3, 2009 9:22am Feb 3, 2009 9:22am
Quoting MarkyBoy
Can somebody explain to me why good home sales in the U.S. is strengthening the pound? I thought it would strengthen the dollar....

Thanks
The theory is like this: good figures, even for U.S. increases investors appetite for risk. As the USD is considered a safe haven, the increased appetite for risk will result in outflows from the USD and into risky currencies like GBP. Bit messed up if you ask me.
PIPPED TO THE LINE
  • #117,358
  • Feb 3, 2009 9:22am Feb 3, 2009 9:22am
Quoting nAVIN2007
cause trading is about elimating noise and yur trading emotions....emotions cant change direction at key levels, im having more success now in my trading...first step is to realise yur trading noise and try free yourself of the emotion..i know it isnt easy!

being on a demo also helps...lol
Explain this again.....but in understandble words. Thanx
  • #117,359
  • Feb 3, 2009 9:24am Feb 3, 2009 9:24am
Quoting at2au
Explain this again.....but in understandble words. Thanx
news is there to confuse, ....emotions cant change market direction unless your trading noise.....plain and simple. Since this year started i havent once looked at the news calender, except just now cause somebody mentioned it and im having much added success....

it all depends on yur time frame i guess
fundamentals are a different thing altogether
  • #117,360
  • Feb 3, 2009 9:25am Feb 3, 2009 9:25am
Quoting fammira
simple, market forecasts in better than expected US data what will likely happen soon in Gb....beside the fact that the pound is way too beaten down in this market

.$.
This is an incorrect explanation, whereas Ntoller's post is very accurate, as to why Cable strengthens when US data beats expectations.
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