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Cable Update (GBPUSD)

  • #142,061
  • Jul 2, 2009 8:11am Jul 2, 2009 8:11am
Quoting ubaidahsan
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
Ub, your acting on impulse and emotions bro. When price action is like this it messes with your head. Don't chase the market up and down, instead have a predetermine position and direction and stick to it.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #142,062
  • Jul 2, 2009 8:14am Jul 2, 2009 8:14am
the roof is on fire
Thank You
  • #142,063
  • Jul 2, 2009 8:14am Jul 2, 2009 8:14am
look forward to reading through that

appreciated
  • #142,064
  • Jul 2, 2009 8:16am Jul 2, 2009 8:16am
Quoting Bull_Bear
Ub, your acting on impulse and emotions bro. When price action is like this it messes with your head. Don't chase the market up and down, instead have a predetermine position and direction and stick to it.
yea bro but how to judge i mean i can judge turning trend but today it was in center and was looking that could go up but it went down now see i took short and its in - too now what a bad luck


Ub
  • #142,065
  • Jul 2, 2009 8:16am Jul 2, 2009 8:16am
Short at 6375, waiting for a retest of 5800s...(This is the 3rd day of lower high and lower low after spike...)
  • #142,066
  • Jul 2, 2009 8:17am Jul 2, 2009 8:17am
Quoting bobbybrown
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
From my understanding, that's how it works "in theory" with most currencies. However, the USD isn't like most currencies. The USD is a "safe haven" currency that is the most widespread in the world. That's why when bad news hits the US, people feel safer with USD in a time of crisis and take more risks with other currencies during good economic times.
Doh! I didn't mean to do that.
  • #142,067
  • Jul 2, 2009 8:18am Jul 2, 2009 8:18am
Quoting wormboy
the roof is on fire
wots doin Wormie.....
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #142,068
  • Jul 2, 2009 8:22am Jul 2, 2009 8:22am
Quoting Bull_Bear
wots doin Wormie.....
the usual buddy
how you be?
Thank You
  • #142,069
  • Jul 2, 2009 8:23am Jul 2, 2009 8:23am
Hi Warm boy

Is there any chance you will recommend a book (books) or a course when I can learn your strategy?

Thank you,
LT

Quoting wormboy
the roof is on fire
Discomfort and profit often stand side by side
  • #142,070
  • Jul 2, 2009 8:25am Jul 2, 2009 8:25am
Quoting wormboy
the usual buddy
how you be?
Riding her hard......
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #142,071
  • Jul 2, 2009 8:26am Jul 2, 2009 8:26am
Quoting *Pipster*
From my understanding, that's how it works "in theory" with most currencies. However, the USD isn't like most currencies. The USD is a "safe haven" currency that is the most widespread in the world. That's why when bad news hits the US, people feel safer with USD in a time of crisis and take more risks with other currencies during good economic times.
OK so is it something like this....as US is the worlds financial centre...good news for USA...people thing if US is doing well other countries will do well too...and invest else where as they have more apetite for risk due to USA's results...thus pushing the dollar value DOWN as demand is lower

When bad news hit USA...people take on less risk...so fall back to USD...thus pushing value UP as demand is higher

I can see the logic

Does this opposite reaction only apply to USD (eg if GB or Euro had good news would this inverse relation apply to their respective currencies too or would they act good news = good for currency and vice versa)?

Thanks
Bobby
  • #142,072
  • Jul 2, 2009 8:27am Jul 2, 2009 8:27am
I will pull out of my trade ....

hi Wormboy ,

Hows it going another lovely day brov........whoo hoo..

If it dont break 27 by 15:30 its not going any where till tuesday...
Thats my thought....

GeppyG
Let Price determine your future!
  • #142,073
  • Jul 2, 2009 8:28am Jul 2, 2009 8:28am
Hi,

Could you say a word about the sweet spot, please? How it works for you? Which time frame is better to use it, etc

Thank you,
LT
Quoting Dillinger
my best guess is
blue arrow best place enter/exit position
yellow next best
green next best
red... maybe early retracement exit?
Discomfort and profit often stand side by side
  • #142,074
  • Jul 2, 2009 8:30am Jul 2, 2009 8:30am
Come on GU. Lets dive.

I know you're a very2 good diver.
Great Bodies are Engineered not Born
  • #142,075
  • Jul 2, 2009 8:30am Jul 2, 2009 8:30am
Quoting bobbybrown

Does this opposite reaction only apply to USD (eg if GB or Euro had good news would this inverse relation apply to their respective currencies too or would they act good news = good for currency and vice versa)?

Thanks
Bobby
GBP and EUR will typically react more like what you would expect (good news = good for currency).
  • #142,076
  • Jul 2, 2009 8:31am Jul 2, 2009 8:31am
Quoting Faryad
cable go for more down
45 pips in 20 minutes lol
  • #142,077
  • Jul 2, 2009 8:32am Jul 2, 2009 8:32am
Quoting RichLadyFX
Come on GU. Lets dive.

I know you're a very2 good diver.
  • #142,078
  • Jul 2, 2009 8:32am Jul 2, 2009 8:32am
Quoting bobbybrown
OK so is it something like this....as US is the worlds financial centre...good news for USA...people thing if US is doing well other countries will do well too...and invest else where as they have more apetite for risk due to USA's results...thus pushing the dollar value DOWN as demand is lower

When bad news hit USA...people take on less risk...so fall back to USD...thus pushing value UP as demand is higher

I can see the logic

Does this opposite reaction only apply to USD (eg if GB or Euro had good news would this inverse relation apply to...
Wow Bobby you learn fast one other curency that works oposite to there stoch exchange is the yen. when nikkei go's up, yen weakens usualy and vise versa.

well against the pound anyway. i never trade usd/jpy
  • #142,079
  • Jul 2, 2009 8:34am Jul 2, 2009 8:34am
Quoting ganymedes
GBP and EUR will typically react more like what you would expect (good news = good for currency).
I'm sure what I've learned today will be of great value in my trading so a big thanks guys
  • #142,080
  • Jul 2, 2009 8:34am Jul 2, 2009 8:34am
I just wanna see another H4 to close below 1.6320 for my observation of 1.6250-1.6150 @ my 38.2% weekly....already break my LTL..see what happen tomorrow before close...am predicting very nice drop starting tonight till tomorrow NY..Good luck
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