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Cable Update (GBPUSD)

  • #167,961
  • Sep 23, 2009 3:49am Sep 23, 2009 3:49am
I am not a fundimentalist. So could one of you news traders explain to me how...

1:30am GBP MPC Meeting Minutes 0-0-9 0-0-9 0-0-9
1:30am GBP BBA Mortgage Approvals 38.1K 41.1K 38.2K

...turned into a 93 pip M15 bar in the positive direction for the currency?

Que
Que
  • #167,962
  • Sep 23, 2009 3:50am Sep 23, 2009 3:50am
Running into some more offers @ top of the previous 1hr/4hr swing lo = prev supp =potential sbr zone withn Dly r1 and 50% of main 7044-6111 fall there too.

How strong is this upmove inspired by reaction to the release?
G/L
ex member
  • #167,963
  • Sep 23, 2009 3:51am Sep 23, 2009 3:51am
Quoting nAVIN2007
good morning, damnit u right again!

I was short...
lol... of all the people to pick say your salute, you pick Hasnaa.... hmm. You sly dog NAV.

How you mate? How's your plan coming along this week bro?
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #167,964
  • Sep 23, 2009 3:52am Sep 23, 2009 3:52am
cable 4hour chart

trendline resistance, once broken should see move to 1.66 area, prior "shampoo" neckline.....

if not then back into range,

nice move off boe slightly more hawkish than expected, no talk of 50bhps reserve rate cut as spoke of in the inflation report testimony to treasury select commitee last week...
Attached Image (click to enlarge)
Click to Enlarge Name: cable 4hour tl.gif Size: 19 KB
Trading is 80% Emotional, 20% Technical
  • #167,965
  • Sep 23, 2009 3:53am Sep 23, 2009 3:53am
Quoting Que
I am not a fundimentalist. So could one of you news traders explain to me how...

1:30am GBP MPC Meeting Minutes 0-0-9 0-0-9 0-0-9
1:30am GBP BBA Mortgage Approvals 38.1K 41.1K 38.2K

...turned into a 93 pip M15 bar in the positive direction for the currency?

Que
either it is up direction or price is taken up so people can sell from a high...chart never lie..we survived the spike now its the direction which will occur.....BEOB on 4hr will take us to where we need to go
  • #167,966
  • Sep 23, 2009 3:55am Sep 23, 2009 3:55am
nice bounce off the 1hour 62ema 50ema level there at 16330 area also
Attached Image
Trading is 80% Emotional, 20% Technical
  • #167,967
  • Sep 23, 2009 3:56am Sep 23, 2009 3:56am
Quoting Que
I must be missing something here. BOVB off the trend line and the EMA 62 on the H4, and still people yelling long?

Que
U need to wake up, H4 trend may have ended but daily is still firm....
  • #167,968
  • Sep 23, 2009 3:56am Sep 23, 2009 3:56am
Quoting Bull_Bear
lol... of all the people to pick say your salute, you pick Hasnaa.... hmm. You sly dog NAV.

How you mate? How's your plan coming along this week bro?


im short brother....hopefully this mofo can sink....im sticking to it thou, target 1.60 hopefully
  • #167,969
  • Sep 23, 2009 3:57am Sep 23, 2009 3:57am
Quoting Bull_Bear
Hi guys,

Doing a bit of position readjusting again....

http://www.forexfactory.com/showpost...stcount=167817

Out of EUR sell for +5pips

Out of GBP sell both positions +38pips

Buy EUR at 1.4785...SL 1.4690... TP 1.4875.

Buy cable at 1.6361... SL.. 1.6280... TP 1.6440.

Reversing short at TP for cable and EUR both positions.

see you guys at London session
Adjusting cable TP to 1.6500, before reversing short.... EUR remains unchange.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #167,970
  • Sep 23, 2009 3:57am Sep 23, 2009 3:57am
  •  refugee
  • | Joined Aug 2009 | Status: Be patient, cautious, & skeptical. | 50 Posts
Quoting Que
I am not a fundimentalist. So could one of you news traders explain to me how...

1:30am GBP MPC Meeting Minutes 0-0-9 0-0-9 0-0-9
1:30am GBP BBA Mortgage Approvals 38.1K 41.1K 38.2K

...turned into a 93 pip M15 bar in the positive direction for the currency?

Que
bc you can't trade news in the 15/1/4hr tf. Would you expect 10 of your neighbors to pack their bags and sell their houses because there was a break-in down the street.


Now I can see your counter-argument coming... it sure wouldn't make 10 vacant houses down the street suddenly filled; sure, but the news is just noise to the smaller tf's.
  • #167,971
  • Sep 23, 2009 3:57am Sep 23, 2009 3:57am
Quoting Que
I am not a fundimentalist. So could one of you news traders explain to me how...

1:30am GBP MPC Meeting Minutes 0-0-9 0-0-9 0-0-9
1:30am GBP BBA Mortgage Approvals 38.1K 41.1K 38.2K

...turned into a 93 pip M15 bar in the positive direction for the currency?

Que
Hello Que,

Basically, it's a relief rally, in that, the minutes did not contain any dissenting votes, as happened in August when a minority of members voted for a bigger increase in the amount of QE than was agreed.

There is also a degree of relief that there was no hint in the minutes about the cut to the interest rate paid on commercial bank reserves held with the Bank, an idea which Mervyn King has been spinning in the media in recent weeks.

This leads market participants to believe that QE won't be extended until November - the time of the next quarterly inflation report - if at all.

In view of all of the above, the below-expectation mortgage approval numbers have today taken a back seat.

Cheers, Paul
  • #167,972
  • Sep 23, 2009 3:58am Sep 23, 2009 3:58am
This is the immediate upside hurdle although descending potential resistance trend line has been breeched to upside now on 1hr/4hr.

G/L

http://i37.tinypic.com/ih3wjd.gif
ex member
  • #167,973
  • Sep 23, 2009 4:00am Sep 23, 2009 4:00am
Obviously PA is not perfect, BEOB on H4 and Double bottom continuation on H1. News came in worse than expected, and I am certainly confused at a 90 pip rise.

Shit happens, and I am still in the trade (for 20 pips or so more), and I risked small (1%). But none of that is the point.

Was hoping someone could over up some explanation as to what just happened.

Que

*edit, I think 1% gone pretty soon...

Quoting nAVIN2007
either it is up direction or price is taken up so people can sell from a high...chart never lie..we survived the spike now its the direction which will occur.....BEOB on 4hr will take us to where we need to go
Que
  • #167,974
  • Sep 23, 2009 4:01am Sep 23, 2009 4:01am
Quoting fx local
nice bounce off the 1hour 62ema 50ema level there at 16330 area also
now watch the 200 on the 1H & 4H for target/exit.
Ghost Rider - WWTBMD?
  • #167,975
  • Sep 23, 2009 4:03am Sep 23, 2009 4:03am
Quoting Que
Now that is a lot of lines on a chart heh. Gonna call you mini Orion me thinks...

G/L on long.

Que
Hi dude ! Look ! My lines is very worthy for me to set up an entry ! They are the history of previous DP I've recorded day by day ....
Attached Image (click to enlarge)
Click to Enlarge Name: 220909c.gif Size: 51 KB
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #167,976
  • Sep 23, 2009 4:05am Sep 23, 2009 4:05am
Thank you for that explanation sir.

Que

Quoting gammase1
Hello Que,

Basically, it's a relief rally, in that, the minutes did not contain any dissenting votes, as happened in August when a minority of members voted for a bigger increase in the amount of QE than was agreed.

There is also a degree of relief that there was no hint in the minutes about the cut to the interest rate paid on commercial bank reserves held with the Bank, an idea which Mervyn King has been spinning in the media in recent weeks.

This leads market participants to believe that QE won't be extended until November - the...
Que
  • #167,977
  • Sep 23, 2009 4:05am Sep 23, 2009 4:05am
Hi, what is 'BEOB ?' Thanks.

Quoting Que
Obviously PA is not perfect, BEOB on H4 and Double bottom continuation on H1. News came in worse than expected, and I am certainly confused at a 90 pip rise.

Shit happens, and I am still in the trade (for 20 pips or so more), and I risked small (1%). But none of that is the point.

Was hoping someone could over up some explanation as to what just happened.

Que

*edit, I think 1% gone pretty soon...
ex member
  • #167,978
  • Sep 23, 2009 4:08am Sep 23, 2009 4:08am
Quoting bbmac
Hi, what is 'BEOB ?' Thanks.
bearish outside bar
  • #167,979
  • Sep 23, 2009 4:11am Sep 23, 2009 4:11am
Quoting nAVIN2007
bearish outside bar
Thanks...appreciated
ex member
  • #167,980
  • Sep 23, 2009 4:16am Sep 23, 2009 4:16am
I'm sure you understand what every single line is on that chart.

For me it looks very much like this...

http://www.forexfactory.com/showpost...stcount=199088

BTW Orion is a very highly respected trader. I did not mean any offense to you. Was a joke.

Que

Quoting manize
Hi dude ! Look ! My lines is very worthy for me to set up an entry ! They are the history of previous DP I've recorded day by day ....
Que
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