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Cable Update (GBPUSD)

  • #117,841
  • Feb 4, 2009 7:18am Feb 4, 2009 7:18am
Is that good orok?
  • #117,842
  • Feb 4, 2009 7:18am Feb 4, 2009 7:18am
UK lost billions of USD due to current historic heavy Snow which is making UK economy frozen
Give me patience
  • #117,843
  • Feb 4, 2009 7:20am Feb 4, 2009 7:20am
Quoting Bullfx
UK economy lost billions of USD due to current historic heavy Snow making UK frozen
I can post some pictures of my snowman to prove this!
  • #117,844
  • Feb 4, 2009 7:20am Feb 4, 2009 7:20am
Ok, Cable can't close above the Red lines, and with the good news for ADP Non-Farm Employment Change, we will test the blue lines today i hope...
Attached Image (click to enlarge)
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  • #117,845
  • Feb 4, 2009 7:20am Feb 4, 2009 7:20am
Quoting vinesh
Is that good orok?
slightly better than expected that news leave me on the sidelines still
  • #117,846
  • Feb 4, 2009 7:21am Feb 4, 2009 7:21am
Quoting Professor4x
Trade plan for today, She breaks 1.45 with momentum it accelerates to 4690. But if this report is as expected since the daily stoc's is ready to issue bear trade signal will sell into rally and expect 1.42 place stop 4520 to cut loss if reverses and wrong.
the news is released, so what scenario now? the first or the second?
  • #117,847
  • Feb 4, 2009 7:22am Feb 4, 2009 7:22am
understood. ty.
  • #117,848
  • Feb 4, 2009 7:23am Feb 4, 2009 7:23am
as expected and have further news at 10 am ism. Will stay with sell rally stradegy but right now no direction and too high to buy and to low to short so best to stand aside this pair. Wait on confirmation of directional break out. We are in no man's land and stuck between hope and gamble.
  • #117,849
  • Feb 4, 2009 7:25am Feb 4, 2009 7:25am
Quoting Abuawad
Ok, Cable can't close above the Red lines, and with the good news for ADP Non-Farm Employment Change, we will test the blue lines today i hope...
But it was a very bullish 1H candle.. It may be able to retest those highs..
  • #117,850
  • Feb 4, 2009 7:27am Feb 4, 2009 7:27am
Quoting Abuawad
Ok, Cable can't close above the Red lines, and with the good news for ADP Non-Farm Employment Change, we will test the blue lines today i hope...
Wont the good news weaken USD though? albeit not much as it was only slightly better than expected
  • #117,851
  • Feb 4, 2009 7:28am Feb 4, 2009 7:28am
Sit on hands and do nothing. It's all about discipline and will stay out until a break with momentum either way right now best to be spectator.
  • #117,852
  • Feb 4, 2009 7:29am Feb 4, 2009 7:29am
Quoting Abuawad
Ok, Cable can't close above the Red lines, and with the good news for ADP Non-Farm Employment Change, we will test the blue lines today i hope...
Same here
  • #117,853
  • Feb 4, 2009 7:30am Feb 4, 2009 7:30am
Quoting PipLand
Wont the good news weaken USD though? albeit not much as it was only slightly better than expected
Could it because the US dollar is viewed as a risk-aversion play. So good news signify investor's appetite for risk, hence weakening of US dollar.

Is my reasoning sound?
  • #117,854
  • Feb 4, 2009 7:33am Feb 4, 2009 7:33am
Quoting Ipips
Could it because the US dollar is viewed as a risk-aversion play. So good news signify investor's appetite for risk, hence weakening of US dollar.

Is my reasoning sound?
no gbp is at very low level traders are using the charts..
  • #117,855
  • Feb 4, 2009 7:35am Feb 4, 2009 7:35am
Quoting nAVIN2007
no gbp is at very low level traders are using the charts..
But it's a weakening of USD across the major currency pairs..Not just GU.
  • #117,856
  • Feb 4, 2009 7:36am Feb 4, 2009 7:36am
Quoting PipLand
I can post some pictures of my snowman to prove this!
I read in some newspaper that UK will lost about 1.7 billion USD due to this heviest Snow storm in 18 years because staff, workers can not go to work. Airport, railway, road have to stop operation. Snow storm is forecast to continue in next days and may add to loss of 5 billions USD. Thousands of schools and buses also stop ... . Red bus in Germany have to stop for the first time in last ... 100 year.

http://vnexpress.net/Files/Subject/3B/A0/AE/C4/sn11.jpg
Railway full of 10 cm snow
Give me patience
  • #117,857
  • Feb 4, 2009 7:38am Feb 4, 2009 7:38am
Quoting nAVIN2007
no gbp is at very low level traders are using the charts..
Quoting Ipips
Could it because the US dollar is viewed as a risk-aversion play. So good news signify investor's appetite for risk, hence weakening of US dollar.

Is my reasoning sound?
Id say your both correct here, dollar is weakening against all pairs at the moment, but cable has the rate decision looming over its head still, if we break and hold aove 4470 then there should be plenty of upside potential.

sidelines still for me
  • #117,858
  • Feb 4, 2009 7:39am Feb 4, 2009 7:39am
1 hr showing momentum and 2 hr stoc's issued trade signal on crossover. It looks to be heading higher so entered at 4470 stop 4410 target 4690. 8 hr is also very bullish for continuation of trend. Time will tell
  • #117,859
  • Feb 4, 2009 7:39am Feb 4, 2009 7:39am
can she broke 4460??
  • #117,860
  • Feb 4, 2009 7:40am Feb 4, 2009 7:40am
Quoting Ipips
But it's a weakening of USD across the major currency pairs..Not just GU.
its not...traders enter at specific places key areas....this thing will likely go the the nearest key area and watch the supply and demand shift.....then bam!!!!!

things will happen..i have observed this mofo in huge detail..i should have been a cop
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