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Cable Update (GBPUSD)

  • #11,121
  • Apr 24, 2007 4:00am Apr 24, 2007 4:00am
[BOE/MPC's BARKER] kicks off the TSC testimony by noting having external members is extremely important while Besley notes that the infl anchor is a central par of the BoE regime and that the infl report will be critical for setting out the MPC's thinking. In his view, infl volatility appears to be short term. Blanchflower said that BoE will do everything it can to curb CPI pressure and that there has clearly been some degree of volatility in infl recently. Sentance notes that longer infl is above target the the greater is the risk it hits expectations. Sentance notes that there is still a big debate on the MPC about the status of the housing market with the current strength pointing to demand picking up ahead.

= 10 pips up......
  • #11,122
  • Apr 24, 2007 4:10am Apr 24, 2007 4:10am
Quoting bravado
in the long run, cable is still bullish.
Agreed.
Do not focus on making money; focus on protecting what you have.
  • #11,123
  • Apr 24, 2007 4:13am Apr 24, 2007 4:13am
intraday double bottom at 9953, should go up for the rest of the day
  • #11,124
  • Apr 24, 2007 4:22am Apr 24, 2007 4:22am
Quoting Francois
Whyohwhy, wont you please give us more information on your long term trades. If I remember correctly you said earlier you have trades that you keep in the market for months. Did I understand you correct?

Also, what do you expect to happen with the cable in the next few months? I have read some analysts talking about that magical 2.4400 level again. Are you in agreement?
But I do keep an eye here as I value the opinions of you guys. Daily stuff for me now in :: Cable (GBPUSD) Trend Trading ::. It makes more sense - it's a journal of live trades. You did understand me correctly Francois. However, there is little point in looking at what I've done in the past. Yes, I have bullish positions outstanding since January on EURUSD and GBPUSD. They're doing ok. SL above entry and TPs on all are in the distance. My reasons are well documented throughout FF for the last 4 months.

Finally, to answer your other point I wouldn't be surprised if we saw 2.3 or 2.4 this year. But most won't agree with me and that's fine. Great debate is what makes FF what it is today. Everyone, have a great week.
Do not focus on making money; focus on protecting what you have.
  • #11,125
  • Apr 24, 2007 4:46am Apr 24, 2007 4:46am
.9983 is forming a great resistance. Can it break on next attempt??
  • #11,126
  • Apr 24, 2007 4:51am Apr 24, 2007 4:51am
Quoting dd33
.9983 is forming a great resistance. Can it break on next attempt??
Maybe, and sooner the better for me.
Do not focus on making money; focus on protecting what you have.
  • #11,127
  • Apr 24, 2007 4:57am Apr 24, 2007 4:57am
why the time for CBI Industrial Trends Orders change???
  • #11,128
  • Apr 24, 2007 5:04am Apr 24, 2007 5:04am
Opened a short @ 1.9990 (61.8 fibo of todays south move frm 2.0012-1.9955) TP 1.9930 SL 2.0012
  • #11,129
  • Apr 24, 2007 5:18am Apr 24, 2007 5:18am
B-E-A-U-T-I-F-U-L



Damn... I was almost chewed and spited out at the 9950 area. But fished the bottoms wheeeeewww...
  • #11,130
  • Apr 24, 2007 5:21am Apr 24, 2007 5:21am
Quoting forexnovice
Opened a short @ 1.9990 (61.8 fibo of todays south move frm 2.0012-1.9955) TP 1.9930 SL 2.0012
SL hit SHort again @ 2.0012 TP 1.9930 SL NILLL
  • #11,131
  • Apr 24, 2007 5:25am Apr 24, 2007 5:25am
Quoting forexnovice
SL hit SHort again @ 2.0012 TP 1.9930 SL NILLL
hey, breach of 0017 fib brings 0044. Cable just bounced off 9950s big barrier and soared like a rocket.

I really hope you know what you're doing.
  • #11,132
  • Apr 24, 2007 5:28am Apr 24, 2007 5:28am
Bean on the talk, Gieve, Tucker, Lomax and King follow. All considered heavyweight.

We saw Bean's outcome.
  • #11,133
  • Apr 24, 2007 5:36am Apr 24, 2007 5:36am
Quoting cesarnc
hey, breach of 0017 fib brings 0044. Cable just bounced off 9950s big barrier and soared like a rocket.

I really hope you know what you're doing.
Thanks 4 the warning Set my SL @ 2.0040
  • #11,134
  • Apr 24, 2007 6:03am Apr 24, 2007 6:03am
What's EUR/USD doing there .. cable needs help to push up higher.
Tra-X
  • #11,135
  • Apr 24, 2007 6:47am Apr 24, 2007 6:47am
Quoting notme32
close short from 0009. at 9960

try long at 9967 target 0000.

i hope ranging . hope... hope..... hop..hop..


close long 9967 at 0010

try short at 0010

RANGING !
I Deeply Love My Virtual Life In Virtual World , RLC
  • #11,136
  • Apr 24, 2007 6:53am Apr 24, 2007 6:53am
Target 9960 again........ then i will long again

Hop hop hop...........................
I Deeply Love My Virtual Life In Virtual World , RLC
  • #11,137
  • Apr 24, 2007 7:01am Apr 24, 2007 7:01am
"More on the biggest running story in the UK today - inflation. Up until now, the highest prediction for interest rates we’d read from a mainstream commentator was Roger Bootle’s suggestion that if he were on the Monetary Policy Committee, he’d be pushing to get rates up to 6% or 6.5%.
Now, in an open letter to the MPC, former London Business School professor, Tim Congdon, says that rates could go as high as 7.5% over the next two years. “This is going to end in the usual way, and even if it’s not as bad as earlier cycles, it is nevertheless bad.”
The letter came as mortgage lending figures for March were the strongest for that month in 20 years. The Building Societies Association said gross lending rose 23% to £5.46bn - and yet, still the director general of the BSA, Adrian Coles, tried to talk it down: “We may see slower growth in lending in coming months. A further rise in rates in May would probably take the heat out of the market.”
This assertion is based on nothing but a vested interest in the property market. So far, three rate hikes since last August have done nothing to cool the market down. Unfortunately, we’ve now reached the stage where only a real credit squeeze will work - and that means a hard landing is much more likely.
(By the way, apologies for an error that crept into yesterday’s Money Morning - we said the Bank of England cut interest rates in August 2004 - it was of course, August 2005)."
  • #11,138
  • Apr 24, 2007 7:58am Apr 24, 2007 7:58am
morning all

been shorting cable since yesterday 0023-0012, closed out at 9970 and 9960 for decent profit, shorted again this morning at 0012, just tp at 9997.

awaiting news and data before getting back in, waiting to see which direction we go. Looking to buy dips now with a tp goal of 20030-40 or to sell in that area with a tp goal of 9980-60.

staying out euro, all longs have been closed since last week, waiting clear sign of direction before getting back in, very hesitant to go long at these levels.
  • #11,139
  • Apr 24, 2007 8:21am Apr 24, 2007 8:21am
not too confident in this trade, but what da hell, I like to live dangerously

went long at 9999, sl at 9979, tp at 0021

stop is firm, but tp area is flexible depending on what happens, might just settle for 10-15 pips, dont know yet.
  • #11,140
  • Apr 24, 2007 9:12am Apr 24, 2007 9:12am
Is there anyway of putting an order in place,say for example sell when it gets to ....... position? I use forex.com
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