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Cable Update (GBPUSD)

  • #142,041
  • Jul 2, 2009 7:53am Jul 2, 2009 7:53am
okay mates let's wait and see 200
  • #142,042
  • Jul 2, 2009 7:53am Jul 2, 2009 7:53am
new to trading, am looking for a decent mini account broker outside USA... does anyone here have any suggestions?

minimal amount to invest... that sort of thing...
until i learn this...

thanks
ron
  • #142,043
  • Jul 2, 2009 7:55am Jul 2, 2009 7:55am
Quoting Geppyg
350 seems to be holding ........
if break - 6220....pt
  • #142,044
  • Jul 2, 2009 7:55am Jul 2, 2009 7:55am
Quoting grashid
seldom seeing you lately...hows life...

no mate ..am just helping newbies as what i can...i just do the same thing like what some of us do...anyway see u then mate in NFP tonight as no new entry to me...all GU and GY I locked it at my daily pivot and am just close my 157.90 short inlast few day with 0 pips just now....let my 159.4-159.8 for GY (since last few week) and 1.6483-1.6535 shorting yesterday run by itself...take care mate
trailing stop turn 100pips on .....daily pivot for both are safe(GU=1.6474&GY=159.10)...
  • #142,045
  • Jul 2, 2009 7:58am Jul 2, 2009 7:58am
volatily has ended, and it doesnt plung straight toward south instead it kinda rebound a bit like tennis ball
  • #142,046
  • Jul 2, 2009 7:59am Jul 2, 2009 7:59am
cable has touched the hourly trendline perfectly....in an trap position..currently at the 350 support....It has still not broke out lets wait till 2:30 it generally should not take more than 30 mins to break out..might not be as fast paced as we want it to move down..
Lets see
Let Price determine your future!
  • #142,047
  • Jul 2, 2009 7:59am Jul 2, 2009 7:59am
Quoting roreki
bad data for USD , so Dow goes down , so currency goes up so GBP/USD is down

Could someone help me out...If US has bad news (like today) which means bad for US dollar...shouldn't that push the GBP/USD up?...why does bad news for US equal short?
  • #142,048
  • Jul 2, 2009 8:01am Jul 2, 2009 8:01am
Quoting john123x
volatily has ended, and it doesnt plung straight toward south instead it kinda rebound a bit like tennis ball
Don't let price action mess with your head......
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #142,049
  • Jul 2, 2009 8:01am Jul 2, 2009 8:01am
Quoting bobbybrown
Could someone help me out...If US has bad news (like today) which means bad for US dollar...shouldn't that push the GBP/USD up?...why does bad news for US equal short?
market drives the dollar... so if news is bad, market goes down... dollar strengthen

good news, people invest in market, market goes up... dollar declines...
  • #142,050
  • Jul 2, 2009 8:02am Jul 2, 2009 8:02am
Quoting bobbybrown
Could someone help me out...If US has bad news (like today) which means bad for US dollar...shouldn't that push the GBP/USD up?...why does bad news for US equal short?
Its called risk aversion...pm me and I will send you a nice document on it
Thanks
Geppy G
Let Price determine your future!
  • #142,051
  • Jul 2, 2009 8:03am Jul 2, 2009 8:03am
Risk adversion. offload of equities into Euro GBP etc, (i think).
  • #142,052
  • Jul 2, 2009 8:03am Jul 2, 2009 8:03am
Quoting bobbybrown
Could someone help me out...If US has bad news (like today) which means bad for US dollar...shouldn't that push the GBP/USD up?...why does bad news for US equal short?
The dollar is currently heavily influenced by the degree of risk aversion in the markets. Bad news = higher risk aversion = good for the dollar.
  • #142,053
  • Jul 2, 2009 8:04am Jul 2, 2009 8:04am
It mean you r long or short?
LT
Quoting albchr
Bought the rumor, sold the news.... Worked (this time)
Discomfort and profit often stand side by side
  • #142,054
  • Jul 2, 2009 8:05am Jul 2, 2009 8:05am
Quoting Faryad
well jack i think cable go down more coz there is harami in H4
i give a call 12 hours ago
  • #142,055
  • Jul 2, 2009 8:06am Jul 2, 2009 8:06am
i am confuse still don't understand what happend when result was in favor of GBP so why the fucking market is going down..i losted 100 today in up and down lol in short and long both.....can anyone explain about it why its movement is so rubbish...thanks GOD i had sell which gave me 600+ but i hate losses


Ub
  • #142,056
  • Jul 2, 2009 8:07am Jul 2, 2009 8:07am
thanks for all the replys to my question.

Is this something that happened under certain market condition (like current credit crunch) or does risk aversion apply always?
  • #142,057
  • Jul 2, 2009 8:09am Jul 2, 2009 8:09am
cable go for more down
  • #142,058
  • Jul 2, 2009 8:10am Jul 2, 2009 8:10am
Quoting LondonTrader
It mean you r long or short?
LT

Normally I don't enter around news and I don't recommend it. I was long before it and out near the top. Short after it and out near the bottom. Very quick scalping trades. As of right now I'm flat on GU and short EU @4051. I should have waited a bit longer on that but the $ "should" rise so I'll hold it for a while.
Ghost Rider - WWTBMD?
  • #142,059
  • Jul 2, 2009 8:10am Jul 2, 2009 8:10am
Quoting bobbybrown
thanks for all the replys to my question.

Is this something that happened under certain market condition (like current credit crunch) or does risk aversion apply always?
read this is explain all for you

http://veritefx.com/veritefx_blog/20...update-37.html

http://veritefx.com/veritefx_blog/20...outlook-6.html
  • #142,060
  • Jul 2, 2009 8:11am Jul 2, 2009 8:11am
According to Forexfactory the effect of Non-Farm Employment Change is

Actual > Forecast = Good for currency

Inn todays case actual was worse than forcast so shouldn't that be bad for currency and push price up...Im confused...im looking forward to reading up on risk aversion
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