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Cable Update (GBPUSD)

  • #149,021
  • Jul 22, 2009 2:58am Jul 22, 2009 2:58am
Quoting albchr
..agreed. Just taking a small 2 lot scalp here. She breaks 6310 and I'm in short again.
Just peeked my head in here for the first time. So Hello to you all!
Albchr, which Tf are you looking at to trade on?
I know candle patterns become more important on larger tf's. I am currently looking at the M15 to take trades with s/r + pivot lines, is that ok like that?
Trading Makes Money!
  • #149,022
  • Jul 22, 2009 2:59am Jul 22, 2009 2:59am
Quoting Yogi
mind me asking where you got this number?
He is a market maker .. can put on any number
  • #149,023
  • Jul 22, 2009 3:00am Jul 22, 2009 3:00am
something tells me GU will reverse strongly to the upside somewhere around here , but i am not sure as yet.
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  • #149,024
  • Jul 22, 2009 3:01am Jul 22, 2009 3:01am
Quoting direct-trade
I am watching to see if the Big Boys try to take out stops...as normal. If they try, then expect a move to 16422 and 30/40 pips above to 16450 area before resumption of down move.

But looking at the strength of this move, I'd say you would need a very large book to even attempt it it this morning. 30 min close below 16307 see's continued move to downside before retrace later.
Late entry Stops are on the Radar. Be careful those who just entered Short. Just a friendly word of advice, and of course I could be completely wrong.
Attached Image
  • #149,025
  • Jul 22, 2009 3:01am Jul 22, 2009 3:01am
1.6350 - 2 pips 1.6348 lol
  • #149,026
  • Jul 22, 2009 3:02am Jul 22, 2009 3:02am
Quoting wormboy
Just when the thread is beginning to get back to some quality discussions and analysis, the lot of you start posting shit again.
There's the members lounge to post rubbish & talk thrash.
If u r refering to me Azim so i am sry i didn't mean to do that really .. but we keep talking in business and trades without a littel fun it would be boring

anyway am sry again if i disturb anyone with my chat
  • #149,027
  • Jul 22, 2009 3:02am Jul 22, 2009 3:02am
Quoting Cencored
Just peeked my head in here for the first time. So Hello to you all!
Albchr, which Tf are you looking at to trade on?
I know candle patterns become more important on larger tf's. I am currently looking at the M15 to take trades with s/r + pivot lines, is that ok like that?

I trade the 1H & 4H. Is what ok like what? Post a chart so we can see what you're up to...

And there are FAR more experienced traders in here than me to ask also...
Ghost Rider - WWTBMD?
  • #149,028
  • Jul 22, 2009 3:03am Jul 22, 2009 3:03am
GUYS:

News in 30 minutes. Don't forget!

al. check your charts, there is S 05 200 297(my provider). If it hits 16265 it will be great for you. Although careful for the chop around there.

Really last post, just don't like people getting burnt.
  • #149,029
  • Jul 22, 2009 3:03am Jul 22, 2009 3:03am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
I would watch for level 625xx , it's from fib drawn on 4 hr channel.

I expect a bounce from there if BOE news doesn't spoil it.


ams
  • #149,030
  • Jul 22, 2009 3:05am Jul 22, 2009 3:05am
Quoting KillPhil08
GUYS:

News in 30 minutes. Don't forget!

al. check your charts, there is S 05 200 297(my provider). If it hits 16265 it will be great for you. Although careful for the chop around there.

Really last post, just don't like people getting burnt.

PS. check your 5minute and 15minute chart for why 46-44 was a good short...
  • #149,031
  • Jul 22, 2009 3:06am Jul 22, 2009 3:06am
Quoting forexlion
something tells me GU will reverse strongly to the upside somewhere around here , but i am not sure as yet.
I will be watching scooby carefully for any reversal signs
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 17 KB
  • #149,032
  • Jul 22, 2009 3:09am Jul 22, 2009 3:09am
Hey Wormie, I'm a little concerned about BB. That flu must really have him down....
Ghost Rider - WWTBMD?
  • #149,033
  • Jul 22, 2009 3:11am Jul 22, 2009 3:11am
Quoting RichLadyFX
I know this girl but she doesn't know me. Stilll single but not sure whether available.
you know me? i'm still single.. until now..
  • #149,034
  • Jul 22, 2009 3:12am Jul 22, 2009 3:12am
"

BOE Minutes Preview: July Meeting 22

nd July 2009


Tel: (+44) 0207 664 4321 E-mail: [email protected]

The BOE minutes for the July meeting are likely to be a non-event after the MPC left rates on hold for a
fourth consecutive month and stuck to their GBP 125bln target for gilt purchases.

The BOE likely kept their quantitative easing (QE) program target unchanged for two reasons. Firstly, they wanted
more time to evaluate the impact of the program thus far on the UK economy. Secondly, the MPC felt they had
adequate cash left to meet their gilt purchase commitments through to August, and especially after they stated
their intention to reduce the size of purchases. However, it is worth stressing such a move helped fuel speculation
in the markets that the MPC could be thinking about ending QE.

Increase QE or end program?

The reduction in gilt purchases certainly raised some eyebrows in the markets and sent a clear message that the
BOE feels economic conditions are stabilizing somewhat. However, deputy governor Bean reiterated recently that
QE needs 9 months to work and that the BOE did not want to end the asset purchase program until the economy
was on an even keel.
If the BOE minutes reveal that keeping the QE target unchanged was a calculated decision and that the MPC will
review the GBP 125bln program at the August meeting, then there is likely to be limited market reaction. On the
flip side, if they indicate they were thinking about ending the QE program then we could see an aggressive sell off
in gilts.
Alternatively, if the minutes hint at the MPC debating writing to Chancellor Darling to extend the GBP150bln
mandate then gilts could rally.
Finally, it should be noted that so far the MPC have acted with solidarity on their QE program, though in recent
weeks there may have been some differences of opinion on the best foot forward. It was surprising they decided
against increasing their QE target and such a move could be indicative of divisions among the MPC related to the

next course of action."

a nice round 160
  • #149,035
  • Jul 22, 2009 3:14am Jul 22, 2009 3:14am
Quoting Cruzerio
I have a pending order for long at 1.6220. I am currently hanging on to my shorts from 1.6588
Still in the greens. thumbs up to okpomiyalo trading theorem
  • #149,036
  • Jul 22, 2009 3:19am Jul 22, 2009 3:19am
i still maintain with my short... if good news to pound.. probably slight movement to UT. If the forecast result same with previous.. it will DT for GU..
Like Wb said.. 6250 ongoing..

p/s this is my thinking only...
  • #149,037
  • Jul 22, 2009 3:21am Jul 22, 2009 3:21am
Quoting forexlion
I will be watching scooby carefully for any reversal signs

agree. well we can see 1,6370. before short again. if u wanna long, sl if break low


thats what i see..
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  • #149,038
  • Jul 22, 2009 3:25am Jul 22, 2009 3:25am
bad news or good news..is nothing for me....6230 is posible now..my trendline tell me
  • #149,039
  • Jul 22, 2009 3:28am Jul 22, 2009 3:28am
Quoting ayeen38
i still maintain with my short... if good news to pound.. probably slight movement to UT. If the forecast result same with previous.. it will DT for GU..
Like Wb said.. 6250 ongoing..

p/s this is my thinking only...
I agree on more potential downside action, my initial target is 1.6268. Will look for a good short opportunity on any up-side action.
  • #149,040
  • Jul 22, 2009 3:29am Jul 22, 2009 3:29am
Quoting Cruzerio
Still in the greens. thumbs up to okpomiyalo trading theorem
Dear Cruzerio,

How do you get 6220 for ur pending Long. Can only see 6265 on my chart. Pls advise. Don't want to go in too early or too late for the LONG
In all your ways acknowledge Him and He will direct your path.
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