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Trade what you see NOT what you expect

  • #14,281
  • Jun 4, 2009 5:20am Jun 4, 2009 5:20am
Mmm...Wonder how that rumour started?

Seems like alot of broker platforms have frozen or gone down!!
  • #14,282
  • Jun 4, 2009 5:20am Jun 4, 2009 5:20am
Quoting KENNETH lEE
(DJ) DJ MARKET TALK: EUR/USD Dragged Down By Sterling Selloff


http://live.gftforex.com/news/dow_jones_logo.gif

1211 GMT [Dow Jones] EUR/USD hits the day's low of 1.4070, dragged down by GBP/USD selling on unconfirmed rumors of UK PM Brown resigning. A trader says the market rushed to sell the pound and when it couldn't get enough sold, hit the euro next. EUR/USD is back up at 1.4115, sterling is now back at 1.6220 after the UK Government says Brown resignation rumor "complete nonsense." (GST)
These traders are so jittery, they really need to drink less coffee.
  • #14,283
  • Jun 4, 2009 5:25am Jun 4, 2009 5:25am
Quoting KENNETH lEE
(IGM)[CABLE] is dumping anew and the moves coincide with loose talk of [PM BROWN] resigning. A previously...

[CABLE] is dumping anew and the moves coincide with loose talk of [PM BROWN] resigning. A previously outperforming Gbp market is getting smashed and the headline dumped around 300 points in a few minutes. Low so far is 1.6082 and some bears will inevitably be eyeing the sub-1.60 stops in very thin markets.
I would have thought if he did resign the pound would rise in value as he is completely incompetent, the sooner we see the back of him and his useless party we will all be better off
  • #14,284
  • Jun 4, 2009 5:32am Jun 4, 2009 5:32am
(DJ) DJ Pound Drops On Talk Of PM Brown Resignation


http://live.gftforex.com/news/dow_jones_logo.gif




LONDON (Dow Jones)--The pound has fallen heavily due to a rumor - later denied by Downing Street - that U.K. Prime Minister Gordon Brown was about to resign.
As the talk about Brown circulated around dealing rooms, the pound dropped by over 1.5% to trade at $1.6084, while the euro surged by a similar degree to hit GBP0.8756. However, sterling quickly recovered some ground shortly afterwards.
The fact that sterling has snapped back, albeit not to its previous levels, shows that traders should treat political news with caution.
"If we do see Brown step down, any move lower in sterling could be short-lived," said Ian Stannard, a currencies analyst at BNP Paribas in London. "I expect we will get more of these rumors over the coming weeks," he added.
Good Trading To All ; Ken Lee
  • #14,285
  • Jun 4, 2009 5:43am Jun 4, 2009 5:43am
Quoting riggster
Mmm...Wonder how that rumour started?

Seems like alot of broker platforms have frozen or gone down!!
Well, the european election results due out Friday, and the cabinet reshuffle, due Monday, will certainly be interesting for the pound. The results are scheduled to be bad for the Labour party, and it is going to put pressure on Brown, which in turn may spook the markets.

On the cabinet reshuffle, there is talk he may not be able to get people to work in the cabinet, which would also reflect badly on Brown's authority, and put more pressure on him. If he doesn't have marque names in his cabinet, the market is going to take that as a sign of him losing his authority.
  • #14,286
  • Jun 4, 2009 5:44am Jun 4, 2009 5:44am
Quoting davids
I would have thought if he did resign the pound would rise in value as he is completely incompetent, the sooner we see the back of him and his useless party we will all be better off
It's risk aversion; however bad Brown is perceived to be, you at least know what you've got. If Brown goes, it introduces unexpected uncertainty, which always spooks the markets.
  • #14,287
  • Jun 4, 2009 5:45am Jun 4, 2009 5:45am
Quoting daffy
Well, the european election results due out Friday, and the cabinet reshuffle, due Monday, will certainly be interesting for the pound. The results are scheduled to be bad for the Labour party, and it is going to put pressure on Brown, which in turn may spook the markets.

On the cabinet reshuffle, there is talk he may not be able to get people to work in the cabinet, which would also reflect badly on Brown's authority, and put more pressure on him. If he doesn't have marque names in his cabinet, the market is going to take that as a sign of him...
Agreed. Could boost cable if he went!

Bernanke is talking now.
  • #14,288
  • Jun 4, 2009 5:55am Jun 4, 2009 5:55am
This has been a very good 15 min. 35/50-1hr 62 trade. On EJ that is.
  • #14,289
  • Jun 4, 2009 5:59am Jun 4, 2009 5:59am
Very volatile session.... I managed 1 loss and two nice wins so far..I'm currently long from 6174..
Patience + Discipline - Greed = Success
  • #14,290
  • Jun 4, 2009 6:07am Jun 4, 2009 6:07am
Quoting Infinity
Very volatile session.... I managed 1 loss and two nice wins so far..I'm currently long from 6174..
I missed the run up during London on GU because I slept right through it. My TP on my Mistress longs from yesterday were hit very nicely at 137.40 while sleeping.
  • #14,291
  • Jun 4, 2009 6:15am Jun 4, 2009 6:15am
[quote=daffy;2779175]It's risk aversion; however bad Brown is perceived to be, you at least know what you've got. If Brown goes, it introduces unexpected uncertainty, which always spooks the markets.[/quote

You are right Daffy, it seems it does not take much to spook the market these days
  • #14,292
  • Jun 4, 2009 6:21am Jun 4, 2009 6:21am
I see news has got the market moving all kinds of ways today.

I just had a long @ 6238 took profit and covered.....thankfully because she came roaring back down.

Waiting for the next setup.

HOLLA
  • #14,293
  • Jun 4, 2009 6:23am Jun 4, 2009 6:23am
Quoting Turtle
I see news has got the market moving all kinds of ways today.

I just had a long @ 6238 took profit and covered.....thankfully because she came roaring back down.

Waiting for the next setup.

HOLLA
Morning, fellows
Did anybody short it as bounce off 10ma and 50% retracement?
I refer it to GU 15M.

I didn't, and now regret it.
  • #14,294
  • Jun 4, 2009 6:32am Jun 4, 2009 6:32am
Quoting Komissar
Morning, fellows
Did anybody short it as bounce off 10ma and 50% retracement?
I refer it to GU 15M.

I didn't, and now regret it.

Miss it also, didn't have my charts setup.

HOLLA
  • #14,295
  • Jun 4, 2009 6:54am Jun 4, 2009 6:54am
Quoting Infinity
Very volatile session.... I managed 1 loss and two nice wins so far..I'm currently long from 6174..
Don't know if you reversed on this or not bro! I took the same long and reverse at 6220. I hope you followed suit.
Just digging in the trenches like everyone else!
  • #14,296
  • Jun 4, 2009 6:59am Jun 4, 2009 6:59am
Quoting eohater
Don't know if you reversed on this or not bro! I took the same long and reverse at 6220. I hope you followed suit.
Next TP on my short is 6130, she's hitting her head on a brick wall here at 6170 though.
Just digging in the trenches like everyone else!
  • #14,297
  • Jun 4, 2009 7:03am Jun 4, 2009 7:03am
Quoting eohater
Don't know if you reversed on this or not bro! I took the same long and reverse at 6220. I hope you followed suit.
No... I actually went on the road after taking a good chunk of profit at 6270... was stopped out on the remainder... long again from 70 ... took profit and covered on this one...
Patience + Discipline - Greed = Success
  • #14,298
  • Jun 4, 2009 7:06am Jun 4, 2009 7:06am
Quoting Infinity
No... I actually went on the road after taking a good chunk of profit at 6270... was stopped out on the remainder... long again from 70 ... took profit and covered on this one...
Ahhh..you took your original long earlier than me. I see. Nice profit bro! Nice reentry as well. I didn't reverse back long, I've booked some profit at 6170 and covered but still marching short.

Excellent trading bro!
Just digging in the trenches like everyone else!
  • #14,299
  • Jun 4, 2009 7:07am Jun 4, 2009 7:07am
Quoting Infinity
No... I actually went on the road after taking a good chunk of profit at 6270... was stopped out on the remainder... long again from 70 ... took profit and covered on this one...
Here is why I went long... along with some tweezers on m15.... we may retest the line again... probably break it too...
Attached Image
Patience + Discipline - Greed = Success
  • #14,300
  • Jun 4, 2009 7:11am Jun 4, 2009 7:11am
Quoting eohater
Ahhh..you took your original long earlier than me. I see. Nice profit bro! Nice reentry as well. I didn't reverse back long, I've booked some profit at 6170 and covered but still marching short.

Excellent trading bro!
Great job yourself bro! I am thinking I should have just taken that short with you near the m15 10 where I banked some profit...I see I am going to get stopped out soon...

I am watching the h4 closely... if we close above the 50ema with tweezers... I be buying again... key word is IF..
Patience + Discipline - Greed = Success
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