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Cable Update (GBPUSD)

  • #166,621
  • Sep 17, 2009 9:17am Sep 17, 2009 9:17am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Do not marry your trades....

All I can see is, as I said it atleast 20 times...
It's not going down before dow touches 10000. Even Mal confirmed this morning. Despite all crappy news, momentum is UP.

I do not expect much movement in the market till then. 200 pip range.
My doubt is, and it's only a doubt that market is waiting for US to raise IR. If that happens, USD will shoot. If not selling continues. As market wants rates to be raised. Banks are making sure they generate inflation by selling dollar and making OIL and gold expensive. OIL expensive means everything expensive. Hence, rates have to be raised. Banks have tons of money on the sidelines atm it's costing them to keep that money.

It might be wait worthwhile but not happening soon
  • #166,622
  • Sep 17, 2009 9:18am Sep 17, 2009 9:18am
Quoting GlobalMacro
lol....I know what you mean bro....they're both crappy...so let's put it this way the one was closer to the resistance than the other, so I took the path of less resistance and the market happens to have had the same thought by the looks of it....
we'll have to re-assess once we're up there tho...lol
bahahahaha okay now someone is getting restless
Thank You
  • #166,623
  • Sep 17, 2009 9:21am Sep 17, 2009 9:21am
Quoting wormboy
bahahahaha okay now someone is getting restless
..magic number is everwhere
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  • #166,624
  • Sep 17, 2009 9:22am Sep 17, 2009 9:22am
Quoting trabagwe
just a quick thank you to all my 4x friend's you know who you are i just made +20 pip's on usd/jpy thank's to all you'r help so greatful, tracy
ps get to pay my car insurance did not wanna ride my motorcycle everywhere

You ride too? COOL!!!
Ghost Rider - WWTBMD?
  • #166,625
  • Sep 17, 2009 9:23am Sep 17, 2009 9:23am
Indies on the minute about bottomed out now...

Play safe, gotta go shower....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #166,626
  • Sep 17, 2009 9:24am Sep 17, 2009 9:24am
Quoting ams
Do not marry your trades....

All I can see is, as I said it atleast 20 times...
It's not going down before dow touches 10000. Even Mal confirmed this morning. Despite all crappy news, momentum is UP.

I do not expect much movement in the market till then. 200 pip range.
My doubt is, and it's only a doubt that market is waiting for US to raise IR. If that happens, USD will shoot. If not selling continues. As market wants rates to be raised. Banks are making sure they generate inflation by selling dollar and making OIL and gold expensive. OIL expensive...
The banks love the current shape of the yield curve, where they can borrow pratically unlimited amounts of cash at the short-end and simply invest in longer dated securities, arbitraging the very favourable yield differential.

For example, banks in the US can borrow overnight funds from the Fed at 0.21% (a negative rate in real terms) and invest that cash in 30y US Treasuries, which currently yield 4.26%. Quite an easy way to make cash and rebuild balance sheets, don't you think?

This is one of the aims of QE and ZIRP, in that both policies provide a near risk-free method for banks to rebuild their capital positions. A way of slowly bringing them back to health.
  • #166,627
  • Sep 17, 2009 9:26am Sep 17, 2009 9:26am
Quoting ahlamo
HI Everyone,

I think i am missing something here, but does better than expected US news mean weaker Dollar? Things have been really confusing lately. I was expecting the GU to move toward 1.64ish but i guess not?!?
trade the chart not the news..the news will show in the chart via reaction..i hope that makes sense..stay away from predictive behavour
  • #166,628
  • Sep 17, 2009 9:27am Sep 17, 2009 9:27am
Quoting nAVIN2007
he is a hell of a trader..doing it scalping..more money but hey definately requires more skill .....great work matt
"Object in the mirror are closer then they appear"

I know you'r ain't that far!
  • #166,629
  • Sep 17, 2009 9:29am Sep 17, 2009 9:29am
Quoting albchr
You ride too? COOL!!!
yes grew up on a bike but now have my best bike ever hope i don't have to sell her (elvira ) harley 1200 sportster
  • #166,630
  • Sep 17, 2009 9:36am Sep 17, 2009 9:36am
Quoting trabagwe
yes grew up on a bike but now have my best bike ever hope i don't have to sell her (elvira ) harley 1200 sportster
SWEET... 07 Ultra Classic here....

Been riding since I was 4 lol
Ghost Rider - WWTBMD?
  • #166,631
  • Sep 17, 2009 9:37am Sep 17, 2009 9:37am
Quoting nAVIN2007
..magic number is everwhere
lol yea. still selling. cool as ice

I raise your magic number. Check out the daily bro, the magic 50
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Thank You
  • #166,632
  • Sep 17, 2009 9:39am Sep 17, 2009 9:39am
Quoting nAVIN2007
trade the chart not the news..the news will show in the chart via reaction..i hope that makes sense..stay away from predictive behavour
You're certainly right, but it's easier said than done. I still have difficutly seeing what is rather than what i want to see
The Sky is the Limit!
  • #166,633
  • Sep 17, 2009 9:42am Sep 17, 2009 9:42am
Quoting albchr
SWEET... 07 Ultra Classic here....

Been riding since I was 4 lol
so cool sent you in fo on biker site, stop in an say hello
  • #166,634
  • Sep 17, 2009 9:44am Sep 17, 2009 9:44am
Quoting wormboy
bahahahaha okay now someone is getting restless


I got just the right stuff every time that happens....lol

hydie, cutie, say hi to my friends, will you!


http://cdn.forexfactory.com/attachme...1&d=1253120647
Hear the music before the song is over ...
  • #166,635
  • Sep 17, 2009 9:46am Sep 17, 2009 9:46am
Quoting albchr
SWEET... 07 Ultra Classic here....

Been riding since I was 4 lol

cool guys. been riding harley sportster 883 past 5 years.
  • #166,636
  • Edited 10:01am Sep 17, 2009 9:46am | Edited 10:01am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
For how long, in the face of current climate when people are losing jobs and they cannot repay loans?


Ok, simple terms. Layman example:

Someone loaned you money/$100 @ 1% = $1 per month
To trustworthy parties (no bank is taking any risk atm, very tight), you can only loan/risk $50 @ 4% = $2 per month. You also have to make sure you can pay $100 back if required to the person who gave you the loan.

How long can you keep doing this? When will you earn profit (salaries, exp etc)?

This is the situation with banks atm.

Raise IR, then charge .25 - .50% more, get foreign investment, start new projects, hiring etc that's how economy works. Not the way it's operating atm. It's not beneficial for any bank or economy as they have to keep sufficient funds for rainy day under the new/existing law. So they don't have to rely on govt for funding later.

Meaning they cannot touch/lend the minimum amount money.

Your views/criticism is welcome. That would increase my knowledge.


Quoting gammase1
The banks love the current shape of the yield curve, where they can borrow pratically unlimited amounts of cash at the short-end and simply invest in longer dated securities, arbitraging the very favourable yield differential.

For example, banks in the US can borrow overnight funds from the Fed at 0.21% (a negative rate in real terms) and invest that cash in 30y US Treasuries, which currently yield 4.26%. Quite an easy way to make cash and rebuild balance sheets, don't you think?

This is one of the aims of QE and ZIRP, in that both policies...
  • #166,637
  • Sep 17, 2009 9:48am Sep 17, 2009 9:48am
Excellent post Paul toally agree...

Quoting gammase1
The banks love the current shape of the yield curve, where they can borrow pratically unlimited amounts of cash at the short-end and simply invest in longer dated securities, arbitraging the very favourable yield differential.

For example, banks in the US can borrow overnight funds from the Fed at 0.21% (a negative rate in real terms) and invest that cash in 30y US Treasuries, which currently yield 4.26%. Quite an easy way to make cash and rebuild balance sheets, don't you think?

This is one of the aims of QE and ZIRP, in that both policies...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #166,638
  • Sep 17, 2009 9:50am Sep 17, 2009 9:50am
CHA-CHING!

Closed 3 of the 4 lots, as I gotta go out for the day, take profit on last is 1.6599.


Have a GREAT DAY!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #166,639
  • Sep 17, 2009 9:53am Sep 17, 2009 9:53am
Quoting francish
cool guys. been riding harley sportster 883 past 5 years.
  • #166,640
  • Sep 17, 2009 9:54am Sep 17, 2009 9:54am
You can see it is important to know what price is doing Nav.
It is ranging so we must keep it tight.When ranging it turns on a penny we must know this as day traders.


Quoting Bones
May be Nav ,but take the monthly and you can see why we are in range,sure we bounced off the 50 and the 38%.
Pound is weak yes for sure
but so is $
I remember the close of last month where claims on this board we were going straight to the bottom ,I suspect they are supprised.
And what has price done.
Gone up.
We are in range simple as that ,bears may find victory hollow unless they can turn this month red.
No doubt daily today is bearish.
Personally I would only look to sell at this point if daily closes as is.
On-site guru & also FF member's' psychiatrist, when not drinking tea
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