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Cable Update (GBPUSD)

  • #174,121
  • Oct 8, 2009 4:52am Oct 8, 2009 4:52am
Quoting Bull_Bear
Unless I'm seeing something different from you Wormie....
I hold buy from 1.6025 untill 1.6090 -1.6100, and short then !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #174,122
  • Oct 8, 2009 4:53am Oct 8, 2009 4:53am
Quoting nAVIN2007
interesting view bro, we see it slightly different but the points are dot on
I like it..!!
It's gonna be bumpy bro but we don't get rattled easily
Thank You
  • #174,123
  • Oct 8, 2009 4:57am Oct 8, 2009 4:57am
Quoting TauTrader
Good day to you,

Took a terrible trade yesterday... got out alive, but was already "slapped" by some of the members. Shows me they care...

I have a small short on GU @ 1.6052. May add if we get to 1.6126. EU I am leaving alone for now - I do not think this pair is ready yet...

Wish you all success with your trades

Regards
Likely that 1.6050 would be rendered useless and if that happens 1.6120 is just a minor correction level.You may find solace at about 1.6160 for a possible retracement which is not absolute but if it does retraces it is likely
going to be massive.In a not shell,short position is too risky at this phase.
Patience and lot of it is required.
  • #174,124
  • Oct 8, 2009 4:57am Oct 8, 2009 4:57am
Quoting wormboy
It's gonna be bumpy bro but we don't get rattled easily
this is my swing to 1.53-1.50 assuming this isnt a recovery

no doubt this mofo will not change my button now..LOL
  • #174,125
  • Oct 8, 2009 4:58am Oct 8, 2009 4:58am
Quoting wormboy
Definitely different bro

I'll allow myself a little scepticsm since all this upmove happened right before today's lined up datas that are not released yet. And technically it seems they're all lined up for a fall. My chart is screaming trap.
I could be wrong, but based on what I see on my chart, this is one of those few times that I'd be glad to go against the current & be proven wrong.
Good luck bro, hope it goes well for the both of us
I agree 100% with the fall... The reason why my TP is 1.6140 is cos its right on tl resistance, major resistence and also the (1.6740 - 1.5784... black line) 38.2%. That's where I suspect large orders are hiding... All 3 marry very nicely at one level making it mofo strong ............Its gonna take a major BULLDOZER to take that level out ....
Attached Image (click to enlarge)
Click to Enlarge Name: Cable.JPG Size: 158 KB
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #174,126
  • Oct 8, 2009 5:00am Oct 8, 2009 5:00am
British Pound Vulnerable as BOE Plots Policy Shift, Euro Looks for Hawkish ECB (Euro
The British Pound may see selling pressure with clues from the Bank of England seemingly hinting the central bank is preparing markets for more, not less, monetary stimulus. The Euro may slide if the European Central Bank’s rhetoric doesn’t validate rising rate hike bets, shifting traders’ expectations.

BOE Governor Mervyn King has done everything in his power to project a dovish bias since the last rate decision, telling the House of Commons Treasury Committee that policymakers are considering cutting the interest rate they pay on bank deposits to encourage lending and talking down the currency with assertions rebalancing the UK economy was “very necessary [and] the fall in the exchange rate that we have seen will be helpful to that process” in an interview with The Journal. We had speculated ahead of the September 10 rate announcement that the bank was preparing the markets for a change in policy after the asset-buying scheme largely failed to affect lending to the real economy. Indeed, although King has said that the BOE was “beginning to see its impact on the supply of broad money,” the M4 measure of money stock grew at an annual pace of just 12.6% in August, the slowest in a year, while central bank’s own data showed net lending shrank for the first time in at least 16 years in July. While a policy shift had not materialized at that point, the BOE has not let up on hinting that more, not less, monetary easing is ahead despite the recent uptick in leading economic indicators, creating the distinct possibility for a dovish surprise this time around.

Turning the ECB, traders are likely to pay little attention to the actual interest rate decision. In fact, the ECB benchmark (officially unchanged at 1% since May) has not been representative of actual lending rates for some time, with the average cost borrowing Euros overnight oscillating between 0.5 and 0.3 percent since June. Rather, traders will focus on bank President Jean-Claude Trichet’s post-announcement press conference. Key economic data turned in mixed results in recent weeks but the bottom line looks far from encouraging: consumer prices fell more than expected in September, lending to the private sector grew at the slowest pace on record in August, and updated GDP figures revealed that the economy depended more on government spending while consumption and investment shrank at a faster pace than originally expected in the second quarter. While Trichet and company have consistently signaled that rates will remain unchanged well into next year, the steady upward drift in traders’ 1-year yield expectations over the past two months suggests the markets will be disappointed if a hawkish streak does not begin to show itself in the near term, weighing on the Euro.

Source: Dailyfx.com
ex member
  • #174,127
  • Oct 8, 2009 5:01am Oct 8, 2009 5:01am
Quoting wormboy
see you @5300
Oh Man!
first Malcolmb now you bro?

1.5300?

Not In This Decade!!!!


No Way Jose!!!!
Hear the music before the song is over ...
  • #174,128
  • Oct 8, 2009 5:06am Oct 8, 2009 5:06am
Quoting nAVIN2007
this is my swing to 1.53-1.50 assuming this isnt a recovery

no doubt this mofo will not change my button now..LOL
I have still one open from 6800 level bro
the other 2 opened @5900 & @6000 level I'm currently nursing.
The mo money we come across the mo problems we see ..
Thank You
  • #174,129
  • Edited 5:26am Oct 8, 2009 5:06am | Edited 5:26am
Quoting Bull_Bear
I agree 100% with the fall... The reason why my TP is 1.6140 is cos its right on tl resistance, major resistence and also the (1.6740 - 1.5784... black line) 38.2%. That's where I suspect large orders are hiding... All 3 marry very nicely at one level making it mofo strong ............Its gonna take a major BULLDOZER to take that level out ....
Agree, 1.6110 hits DTL on 8 hour, previous resistance and support. Tight stop loss of 1.6150 just incase it busts through.. Good Luck - need to watch BOE announcement closely, in 55 mins.
May the forex be with you |
  • #174,130
  • Oct 8, 2009 5:08am Oct 8, 2009 5:08am
Quoting Bull_Bear
I agree 100% with the fall... The reason why my TP is 1.6140 is cos its right on tl resistance, major resistence and also the (1.6740 - 1.5784... black line) 38.2%. That's where I suspect large orders are hiding... All 3 marry very nicely at one level making it mofo strong ............Its gonna take a major BULLDOZER to take that level out ....
DAM!! I HATE it when you say that BB. Everytime you do, it DOES...LOL

Hmmmm...maybe I better reverse to long now....
Ghost Rider - WWTBMD?
  • #174,131
  • Oct 8, 2009 5:10am Oct 8, 2009 5:10am
Well I played my 50% Fib...was profitable and then bloody pushed the wrong button and closed the trade!lol!

Made twenty pips, if she spikes up 30 pips now I am going to have to take a leaf out Navs book and give myself a major slap!

Oh crap its bloody happened, dont really trust her to pay the spread and re-enter as it could hit a double top and fall away sharply...

I'm an idiot, stupid fat fingers!
  • #174,132
  • Oct 8, 2009 5:10am Oct 8, 2009 5:10am
Quoting Bull_Bear
I agree 100% with the fall... The reason why my TP is 1.6140 is cos its right on tl resistance, major resistence and also the (1.6740 - 1.5784... black line) 38.2%. That's where I suspect large orders are hiding... All 3 marry very nicely at one level making it mofo strong ............Its gonna take a major BULLDOZER to take that level out ....
okay. but you bought at very good price yesterday bro, won't hurt to book some. Who knows ..
Thank You
  • #174,133
  • Oct 8, 2009 5:11am Oct 8, 2009 5:11am
Quoting wormboy
I have still one open from 6800 level bro
the other 2 opened @5900 & @6000 level I'm currently nursing.
The mo money we come across the mo problems we see ..
GOOD STUFF!!

next week i will ride trends like seabiscuit

big time diverence on 5m..LOL
Attached Image (click to enlarge)
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  • #174,134
  • Oct 8, 2009 5:12am Oct 8, 2009 5:12am
Quoting FXFundi
Agree, 1.6110 hits DTL on 8 hour, previous resistance and support. Tight stop loss of 1.6750 just incase it busts through.. Good Luck - need to watch BOE announcement closely, in 55 mins.
Come BOE I will lock in profits just in case... I do suspect an inititial spike up.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #174,135
  • Oct 8, 2009 5:12am Oct 8, 2009 5:12am
Boe/mpc 45-50mins away, £-marking up to mark down atm?? We'll know at 12 midday london and after

G/L
ex member
  • #174,136
  • Oct 8, 2009 5:13am Oct 8, 2009 5:13am
Quoting albchr
DAM!! I HATE it when you say that BB. Everytime you do, it DOES...LOL

Hmmmm...maybe I better reverse to long now....
Yeah its gets me sometimes too Chris...

How you doing with your trades today mate?
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #174,137
  • Oct 8, 2009 5:15am Oct 8, 2009 5:15am
Quoting wormboy
okay. but you bought at very good price yesterday bro, won't hurt to book some. Who knows ..
Yeah come BOE I will... for now as long as she is above 1.6030... I looking

Cheers bro
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #174,138
  • Oct 8, 2009 5:18am Oct 8, 2009 5:18am
Quoting clem699
Likely that 1.6050 would be rendered useless and if that happens 1.6120 is just a minor correction level.You may find solace at about 1.6160 for a possible retracement which is not absolute but if it does retraces it is likely
going to be massive.In a not shell,short position is too risky at this phase.
Patience and lot of it is required.
Good day to you,

Thank you - I have taken note of your view.

Regards
  • #174,139
  • Oct 8, 2009 5:22am Oct 8, 2009 5:22am
Quoting GlobalMacro
Oh Man!
first Malcolmb now you bro?

1.5300?

Not In This Decade!!!!


No Way Jose!!!!
lol
think I called it back in june. I don't doubt it.
see you at the other end of the spectrum bro, before the decade turns I promise
Thank You
  • #174,140
  • Oct 8, 2009 5:23am Oct 8, 2009 5:23am
Quoting nAVIN2007
GOOD STUFF!!

next week i will ride trends like seabiscuit

big time diverence on 5m..LOL
seabiscut
Thank You
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