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Cable Update (GBPUSD)

  • #180,881
  • Nov 5, 2009 12:15am Nov 5, 2009 12:15am
Quoting grashid
Week time
Rashid r u short ?
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #180,882
  • Nov 5, 2009 12:27am Nov 5, 2009 12:27am
Quoting samdani786
Rashid r u short ?
am taking my rest till NFP..Maybe friday NY or Next week Monday Asian I'll start....let market settledown what they should/want.

this week start after long leave seems to me....better am out then come back tomorrow....but scalp with small range should be fine

I saw 6550 is on the way before BOE and let we take a look how london will bring us...

Good luck
  • #180,883
  • Nov 5, 2009 12:45am Nov 5, 2009 12:45am
Quoting grashid
am taking my rest till NFP..Maybe friday NY or Next week Monday Asian I'll start....let market settledown what they should/want.

this week start after long leave seems to me....better am out then come back tomorrow....but scalp with small range should be fine

I saw 6550 is on the way before BOE and let we take a look how london will bring us...

Good luck
Right on!

That's the best thing to do for now. Looking at this I would short but the 1.6650/1.67 option stop me jumping into the train now.

I rather take a ticker at a worst price then taking the wrong train!

Scalp is the only option for now. But do I really do anything else then this... LOL

Take care Grashid later!
  • #180,884
  • Nov 5, 2009 12:51am Nov 5, 2009 12:51am
Quoting DubaiFX
Will be shorting any 1h close below Trend line..
will be very good to short we are at top looking to my charts
just my 1pip advise carefull if you want to go long
macd is not helping this whole move last 4H chart
hope you guys green pips


1.6510 will be good to short
target canbe near 16370 again today we may see but i am expecting in new york session.

Take care..
Choose Wisely..
Finally it's making his way
My edge ===> Patience
  • #180,885
  • Nov 5, 2009 1:11am Nov 5, 2009 1:11am
Quoting grashid
am taking my rest till NFP..Maybe friday NY or Next week Monday Asian I'll start....let market settledown what they should/want.

this week start after long leave seems to me....better am out then come back tomorrow....but scalp with small range should be fine

I saw 6550 is on the way before BOE and let we take a look how london will bring us...

Good luck
Rashid, i am in miami . Where u trading from brother ?
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #180,886
  • Nov 5, 2009 1:12am Nov 5, 2009 1:12am
Quoting TauTrader
Good day to you,

Thank you - yes, you are right. Was a bit thoughtless. Have not closed though - still in. Did some management on the position - may just have a small window to walk away. But gonna have to be Flash Gordon.

But all in all - just a silly trade. Strong like an Ox. I bend over, take my hiding and move on.

I wish you all success

Regards
Good day to you,

After the EU trade entered before news, I was in serious trouble. Got my window to get out, but trying to close positions during volatility with my broker, just did not happen.

Looked at the charts from all angles. MM went out the window.Took a serious risk to average higher. Very little sleep - worried. Closed the trade just now... NEVER again.

That was just plain stupid trading. NEVER again. Pure luck.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: eu111.gif Size: 13 KB
  • #180,887
  • Nov 5, 2009 1:15am Nov 5, 2009 1:15am
Quoting TauTrader
Good day to you,

After the EU trade entered before news, I was in serious trouble. Got my window to get out, but trying to close positions during volatility with my broker, just did not happen.

Looked at the charts from all angles. MM went out the window.Took a serious risk to average higher. Very little sleep - worried. Closed the trade just now... NEVER again.

That was just plain stupid trading. NEVER again. Pure luck.

Regards
Hey Buddy,

My Dad always said he'd rather be lucky than good....

Some very fancy foot work brother and a great save!!
Ghost Rider - WWTBMD?
  • #180,888
  • Nov 5, 2009 1:20am Nov 5, 2009 1:20am
Quoting albchr
Hey Buddy,

My Dad always said he'd rather be lucky than good....

Some very fancy foot work brother and a great save!!
Good day to you,

I am upset with myself. But I should be grateful...

I am leaving now - driving up the coast to clear my head.

I hope your plan for your trade works to your favour and that your patience pays you well.

All the best

Regards
  • #180,889
  • Nov 5, 2009 1:34am Nov 5, 2009 1:34am
Quoting TauTrader
Good day to you,

I am upset with myself. But I should be grateful...

I am leaving now - driving up the coast to clear my head.

I hope your plan for your trade works to your favour and that your patience pays you well.

All the best

Regards
I hope so too Tau....

http://www.forexfactory.com/showpost...&postcount=242
Ghost Rider - WWTBMD?
  • #180,890
  • Nov 5, 2009 1:51am Nov 5, 2009 1:51am
Mlos.... did you manage to save your stop loss on your short trade yesterday and come out BE
  • #180,891
  • Nov 5, 2009 2:00am Nov 5, 2009 2:00am
Quoting TauTrader
Good day to you,

After the EU trade entered before news, I was in serious trouble. Got my window to get out, but trying to close positions during volatility with my broker, just did not happen.

Looked at the charts from all angles. MM went out the window.Took a serious risk to average higher. Very little sleep - worried. Closed the trade just now... NEVER again.

That was just plain stupid trading. NEVER again. Pure luck.

Regards
nice profit there Tau

am gonna call u Mr. Luck
  • #180,892
  • Nov 5, 2009 2:20am Nov 5, 2009 2:20am
It will be interesting to see the U.k industrial and manufacturing production data later this morning, and whether this like all recent surveys have suggested a pick-up and expaqnsion in U.k economic activity. Mni services y/day 56.9 for example...Indeed many suggest that the -0.4% Q3 Gdp figure is simply wrong and will be revised sharply upwards with Q4 showing growth albeit small?
The Fed (Fomc) suggested stable rates for time being at it's meeting yesterday, and tghis is likely to be the case in the Uk , so the question is; Will the Boe/Mpc reists further additions to the QE programme fearful of storing up future inflation when the economy has alraedy started growing -or- As some are suggesting will they expand it? some are suggesting an additional £50Bln taking it from current £175 to £225Bln.

It's worth remembering that before the bad -0.4% Q3 Gdp there were implicit suggestions that it had topped out at £175Bln, but also that there were votes in August for an additional £75Bln when it expanded to £175 from £125Bln, and that the bank had been stung by criticisisms of it's slowness to act during the height of the crisis and beyond not see-ing the downside risks, concentrating on the upside inflation risks too much. Bear in mind too that the U.s, Japan, France, Germany returned to growth in Q3 with Uk lagging behind.

On balance, some expansion in QE seems the most probable outcome and the decision will be announced @ 12pm gmt later today. Likely £ weakness with a £50Bln expansion would be the conventional wisdom?

G/L
ex member
  • #180,893
  • Nov 5, 2009 2:33am Nov 5, 2009 2:33am
Quoting bbmac
It will be interesting to see the U.k industrial and manufacturing production data later this morning, and whether this like all recent surveys have suggested a pick-up and expaqnsion in U.k economic activity. Mni services y/day 56.9 for example...Indeed many suggest that the -0.4% Q3 Gdp figure is simply wrong and will be revised sharply upwards with Q4 showing growth albeit small?
[size=2]The Fed (Fomc) suggested stable rates for time being at it's meeting yesterday, and tghis is likely to be the case in the Uk , so the question...
that is uncertain, not the best decision to trade, my view is that an additional 75billion would warrant a strong sell off, on the other hand 25billion could well support sterling, going forward if they indicate that the end of QE is immenient a break through 1.66-67 resistance could be likely, any dithering or indecision in statement, ie talk of future inflation (crazy given we are still in negative growth!) 50billion would be harder outcome to trade
Trading is 80% Emotional, 20% Technical
  • #180,894
  • Nov 5, 2009 2:37am Nov 5, 2009 2:37am
03:25 11/05 CABLE: Recovery off early European lows of $1.6467 extends to $1.6520,
the rate currently trading around $1.6514. Above $1.6520 and further
resistance/offer seen at $1.6530/35 ahead of $1.6550. Support now seen
at $1.6485/80 ahead of earlier lows at $1.6467.

03:28 11/05 CABLE: Traders flash up that a 'good name' is linked to offers in the
$1.6520/30 area.


02:32 11/05 CABLE: Opened Asia around session highs of $1.6563 and came under early
downside pressure from Tokyo sterling-yen sales, as risk positions were
pared back as Asian equity markets suffered contagion from the late
corrective pullback on Wall Street (DJIA did close up 30, but off best
post FOMC react gains of 160). Rate was squeezed to session lows of
$1.6497, recovering to $1.6530 ahead of the European open before coming
under fresh sell pressure that eased the rate to lows of $1.6467
($1.6469 38.2% $1.6260/1.6598). Rate currently trades around $1.6485.
Underlying tone still said to remain buoyant with today's 1200GMT BOE
announcement the main focus. Most expect the MPC to keep the bank rate
at 0.50%, with adjustment in QE the main factor to be watched,
especially any commentary suggesting Gilt buying is coming to an end.
Most expect QE to be increased by between stg25bln-50bln, though some
suggested we could see a pause. Support remains at $1.6470/65, a break
below to allow for a deeper pullback toward $1.6450 ahead of $1.6430 and
$1.6400/390. Resistance $1.6500, more at $1.6520 ahead of $1.6530/35-50.

01:26 11/05 BOE: The Bank of England decision is due at 1200GMT and whether the MPC
will increase the current stg175bn scale of quantitative easing today is
a question that has been dividing analysts and it may well divide the
MPC. The most likely outcome is that the MPC will extend QE, but it
could well be a close call and a split vote would be no great surprise.
Back in August, Bank of England Governor Mervyn King and MPC member
David Miles voted for a further stg75 billion in QE while the other
seven members of the committee backed a stg50 billion addition. A Market
News survey produced a median forecast of a further stg50bn addition in
November. Out of 23 analysts, 14 expected a stg50bn addition to QE,
seven expected stg25bn and two analysts forecast a halt to
QE. One plausible scenario is King and Miles will call for another
increase in QE at the November meeting. MPC member Adam Posen might well
join them. Only a further two members would be needed to secure a QE
extension and news that UK GDP shrank further in Q3 may get the votes.
Trading is 80% Emotional, 20% Technical
  • #180,895
  • Nov 5, 2009 2:43am Nov 5, 2009 2:43am
will be looking for clues in the accompanying statement if any talks with regard to weaker currency, talking down the prospects for sterling given the MPC unofficially prefer a lower exchange rate given the additional stimulus it provides to exports,
Trading is 80% Emotional, 20% Technical
  • #180,896
  • Nov 5, 2009 2:45am Nov 5, 2009 2:45am
http://news.easy-forex.com/special-r...091103671.html

The Bank of England (BOE) will hold a policy meeting on Thursday November 5th. At the October policy meeting the BOE elected to maintain the current level of interest rates at a record low 0.5% and asset purchases at £175bln. The BOE indicated that they would keep the scale of the asset purchase plan under review. Two recent UK economic reports generated concern about the outlook for the UK economy and may encourage the BOE to expand its asset purchase plan at the November policy meeting. UK Q3 GDP posted an unexpected 0.4% decline. The trade had expected a rise of 0.2% for Q3 GDP. The decline in GDP suggests that the BOE asset purchase plan has yet to boost the UK economy out of recession. UK manufacturing output fell by 1.8% in August. The decline in manufacturing output adds additional doubt about the UK economic recovery. The BOE must also take in consideration today's report of continued UK bank troubles. The UK government announced Tuesday that it will take a bigger stake in RBS and Lloyds Bank. It is not clear if he BOE will hold its asset purchase plan unchanged or elect to expand the purchase plan by £25bln or £50bln at Thursday's policy meeting. Today's Wall Street Journal reports that a majority of economists expect the BOE to hold policy steady and expand its asset purchase plan by £25bln. Based on the UK Q3 GDP report it may be difficult for the BOE to refrain from adding additional stimulus. Recent GBP price action has found that the GBP benefits from BOE decision to hold the level of asset purchases and weakens when the BOE elects to expand quantitative ease. Monday, the BOE's Blanchflower said that the BOE may expand its asset purchase program by another £50bln. The Sunday Times however carried a piece warning the BOE not to panic over the Q3 GDP report. GDP is seen as a lagging indicator. A Reuter's poll of 62 economists shows that 19 expect no change in BOE asset purchases, 22 look for an increase of £25bln and 21 look for 50bln. The impact of the BOE policy meeting may be limited as focus will likely quickly return to the direction of equities and risk sentiment. If the BOE elects to expand its asset purchases by more than £25bln we would expect to see a knee-jerk short-term selloff in GBP.
Trading is 80% Emotional, 20% Technical
  • #180,897
  • Nov 5, 2009 2:46am Nov 5, 2009 2:46am
Please, what should we be expecting from the Manufacturing Production m/m and the Industrial Production m/m. Please I want the experts to tell me what I will do to be part of this news this morninf or should I simply quit at it?

I need answers.
  • #180,898
  • Nov 5, 2009 2:48am Nov 5, 2009 2:48am
Quoting tundeakins
Please, what should we be expecting from the Manufacturing Production m/m and the Industrial Production m/m. Please I want the experts to tell me what I will do to be part of this news this morninf or should I simply quit at it?

I need answers.
Quit, wait for release, then trade 1h after
Or, blindly put an order an assume the risk!

Wish you the best.
  • #180,899
  • Nov 5, 2009 2:51am Nov 5, 2009 2:51am
Quoting tundeakins
....
I need answers.
Lol.., and you shall have them @ 12 gmt.....The only certainty is uncertainty and the only only constant is change...welcome to forex trading lol
ex member
  • #180,900
  • Nov 5, 2009 2:55am Nov 5, 2009 2:55am
Quoting tundeakins
Please, what should we be expecting from the Manufacturing Production m/m and the Industrial Production m/m. Please I want the experts to tell me what I will do to be part of this news this morninf or should I simply quit at it?

I need answers.
another word of advise, think for yourself, and never search for "expert" opinion!!!
Trading is 80% Emotional, 20% Technical
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