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Cable Update (GBPUSD)

  • #124,901
  • Mar 5, 2009 3:37am Mar 5, 2009 3:37am
Quoting alcando
Guys, there is a lot of talk about shorting this beast after the rates decision but if you look back at the last 2 UK rate cuts there has been a significant up tick immediately after the rates decision....
Yeah i agree as long as they dont announce anything too drastic with the quantative easing that they want to do. I reckon cable will drop before the rate decision and rally after but I aim to be closed out before the decision as the moves are drastic and unpredicatable!
  • #124,902
  • Mar 5, 2009 3:38am Mar 5, 2009 3:38am
This is only my prediction. t will go down to 1.4126 and after the rate being announced it will go long. Furthermore, the unemployment figure will be higher compare to forecast. So I will go for long at 1.4126 with tight S/L 10pips.
  • #124,903
  • Mar 5, 2009 3:41am Mar 5, 2009 3:41am
Quoting Forbes55
I just missed action easy 300$ and I can't be cool at all
thats was damn nice place to short by big lot from my 4226 and I used trailing stop 20 pips and it returned to close my order and went fall
That's just unfair!
Thats been happening to me all week, its like that sometimes but you gotta keep your head cool be patient and then the next set up will come along soon enough!

I think its too early to say youve missed any action anyway as we havent broken below this trend line yet! And its showing support!
  • #124,904
  • Mar 5, 2009 3:42am Mar 5, 2009 3:42am
Quoting PipLand
That was some nice trading! congrats on your pips!

Theres no proof this will go down and your right to trade what your charts are showing you!

I think this will go down now because risk aversion is coming back into play today, for a moment i didnt think it was going to happen and resitance would be broken but there you go thats the benefits of good risk to reward ratio from buy at support and selling at resistance.

But we still gotta break the trend line first an dlots of support to get through before i start counting my chickens!
I agree with what you said, now it's a tricky time to go in with the news coming. And may cable show a sign of sinking I'll join most you on the bear side. If the 4h closes below 1.4160 I'll most likely short her.
  • #124,905
  • Mar 5, 2009 3:43am Mar 5, 2009 3:43am
Quoting Myman
This is only my prediction. t will go down to 1.4126 and after the rate being announced it will go long. Furthermore, the unemployment figure will be higher compare to forecast. So I will go for long at 1.4126 with tight S/L 10pips.
This is a likely scenario but be carefull as it will prob be more about what they say at the rate cut meeting rather than the actual cut itself and cable will prob be unpredicatable whilst the info is being digested by the traders
  • #124,906
  • Mar 5, 2009 3:49am Mar 5, 2009 3:49am
I'm short at Cable, TP is 50 pips.
My edge ===> Patience
  • #124,907
  • Mar 5, 2009 3:54am Mar 5, 2009 3:54am
Quoting alcando

Considering that the rates are forecast to be cut to a very low 0.5% and the likelihood of further cuts is extremely slim, a cut to 0.5% is the worst case scenario and already factored in. There is even the probability that they do not cut this month.
I've been thinking that a smaller rate cut than expected is a real possibility. Any further cut is unlikely to have an effect on the economy. A cut as expected should already be factored in.

Chatter on the box suggests the key event for cable today is Alistair Darling's letter on quantitative easing.
  • #124,908
  • Mar 5, 2009 3:54am Mar 5, 2009 3:54am
Quoting Ben920FX
I'm short at Cable, TP is 50 pips.
from where you short?

I'm in @ 4192, i think just 30 pip from my point.
  • #124,909
  • Mar 5, 2009 3:55am Mar 5, 2009 3:55am
Ok ... on d way to 1.4126
  • #124,910
  • Mar 5, 2009 3:57am Mar 5, 2009 3:57am
Quoting biax
from where you short?

I'm in @ 4192, i think just 30 pip from my point.
I have just opened short at 1.4172 my 1st TP is 50 pips 2nd TP is 100 pips
My edge ===> Patience
  • #124,911
  • Mar 5, 2009 3:59am Mar 5, 2009 3:59am
Quoting Ben920FX
I have just opened short at 1.4172 my 1st TP is 50 pips 2nd TP is 100 pips
Ok, I'm not alone with BEP +1 right now
  • #124,912
  • Mar 5, 2009 4:02am Mar 5, 2009 4:02am
my second short order from 4168 was just closed again because of trailing stop 20 pips! Damn this pound it's just closing my orders and then go down more! I can't stand this!
ROBOT FOREX
  • #124,913
  • Mar 5, 2009 4:04am Mar 5, 2009 4:04am
Lol, guys who went long, good time to tp methinks.
Thank You
  • #124,914
  • Mar 5, 2009 4:07am Mar 5, 2009 4:07am
Quoting Forbes55
my second short order from 4168 was just closed again because of trailing stop 20 pips! Damn this pound it's just closing my orders and then go down more! I can't stand this!
Dont use a trailing stop save them for the asian session
  • #124,915
  • Mar 5, 2009 4:07am Mar 5, 2009 4:07am
Go long at 1.4127. Let's see
  • #124,916
  • Mar 5, 2009 4:10am Mar 5, 2009 4:10am
USDX Chart drop. Better go long
  • #124,917
  • Mar 5, 2009 4:12am Mar 5, 2009 4:12am
Quoting Myman
Go long at 1.4127. Let's see
do you think it is save?
  • #124,918
  • Mar 5, 2009 4:12am Mar 5, 2009 4:12am
be careful GU have big weekly HLC violet.. its suck to think GU will down.

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my tp just hit from that point
  • #124,919
  • Mar 5, 2009 4:13am Mar 5, 2009 4:13am
Quoting PipLand
Dont use a trailing stop save them for the asian session
too late
I won't open order now,missed action
ROBOT FOREX
  • #124,920
  • Mar 5, 2009 4:16am Mar 5, 2009 4:16am
Quoting alfamichi
do you think it is save?
Yes. with tight S/L. Since this morning it try to break 1.4126, so there is no harm of trying to go for long.
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