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Cable Update (GBPUSD)

  • #181,201
  • Nov 6, 2009 12:59am Nov 6, 2009 12:59am
Quoting TauTrader

I believe the majority of stops sitting above 1.6640 -1.6660

Regards
If market makers or big boys can see this SL fig 1.6640 -1.6660 then any possibilities they will be shaken out before the trend continue bearish and also those who long(straddle) for this quick up move will also be shaken out.
IMHO the best thing for me is to stay aside and wait for the weakness...trade your own charts...
Pride of opinion is a characteristic of losing traders
  • #181,202
  • Nov 6, 2009 1:26am Nov 6, 2009 1:26am
today I have a free day, no work I have my pips this week already in my pocket. Later i will try to put some price action case studies on my blog (as yesterday's)
  • #181,203
  • Nov 6, 2009 1:39am Nov 6, 2009 1:39am
Quoting Wincent
and again went fall.
When we open a trade....

i DONT LOOK at charts too come and hit my tp or sl.

just relax and set tp and sl AND CLOSE THE CHART.

fInally will surprise u.

Correct. Money Management wisely, enter trade, put TP.. no SL (for me).

If not today, then tomorrow..
Trade what you see. Write what you feel
  • #181,204
  • Nov 6, 2009 1:54am Nov 6, 2009 1:54am
Quoting grashid
5505 NY till London close yesterday? mmm....

How about I make a joking
....welcome 6640..then 6740
Halo firend ! No more fight with GM then ...
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #181,205
  • Nov 6, 2009 2:24am Nov 6, 2009 2:24am
Gbp.Usd Down
Attached Image (click to enlarge)
Click to Enlarge Name: persian gulf 7.gif Size: 22 KB
  • #181,206
  • Nov 6, 2009 2:25am Nov 6, 2009 2:25am
So Boe/Mpc fudged it and did something (£25bln addition to Qe programme) probably the least they could...fearful of being accused of not reacting to the downside dangers re Q3 gdp.

Roll on, U.s Nfp due later....generally expansive data from the U.s of late as Q3 showed growth in gdp. As usula it will be the revisions of previous, un-emp rate, manufacturing jobs and deviation from the -175k forecast that will determine market's reaction. Un-employment is of course a lagging indicator but the initial claims fell to a 10mth low yesterday with ADP forecasting -203k against -263k in the headline # last time. Consensus seems to be for -175k with un-emp rate rising to 9.9% from 9.8%.

The 3 main scenarios are:

a. Headline # comes in around forecast (possibly with positive revision to last month's headline # and only 0.1% or no jump in un-emp rate of 9.8%...probable indecisive -$ strength on knee-jerk reaction
b. Headline # comes in considerably less than forecast with positive revision to last month's headline # and stable un-emp rate....probable $ strength on knee-jerk reaction
c. Headline # comes in higher than previous month with or without revisions to previous month's headline # and an increase in un-emp rate...probable $ weakness on knee-jerk reaction.

Anything can happen of course, and there are other scenarios that could play out. This is historically the most volatile data release on the calendar, so as usual trade what you see, not what you think, and if you don't understand what you see/it is not clear see-stay out, is the best advice for a tech trader.

G/L.
ex member
  • #181,207
  • Nov 6, 2009 2:30am Nov 6, 2009 2:30am
Hi guys,

I did'nt post last days here, just cos ATM I don't trade FX markets....equities and gold look more promising to me.....I'm long on european equities market futures (eurostoxx, cac and dax) and gold (1100 is a target)
For me the most important news of this week is LBO operations restarting, with TPG et Canada Pension Plan buying IMS Health, last LBO this size was August 2008.....It means confidence and investors are back on equities market.....
Forex keep wondering which is worse between US and GB economy....as long as it's so FX markets are untradable for real traders.....

GL to all
Non licet omnibus adire Corinthum
  • #181,208
  • Nov 6, 2009 2:33am Nov 6, 2009 2:33am
Quoting javajames
Hi guys,

Forex keep wondering which is worse between US and GB economy....as long as it's so FX markets are untradable for real traders.....

GL to all
Rubbish...' Real traders' as you call them can trade in whatever the market conditions be it trending or ranging, although I am not disputing that other sectors/instruments may be a good play at the moment.

G/L with your trades in those other instruments.
ex member
  • #181,209
  • Nov 6, 2009 2:42am Nov 6, 2009 2:42am
Quoting bbmac
Rubbish...' Real traders' as you call them can trade in whatever the market conditions be it trending or ranging, although I am not disputing that other sectors/instruments may be a good play at the moment.

G/L with your trades in those other instruments.
I have read more than one time for many famous traders "When the market ranging don't trade" like bill williams.
But which TF real trade use to say it's ranging or not!It depends on you.
  • #181,210
  • Nov 6, 2009 2:47am Nov 6, 2009 2:47am
Quoting egkid
I have read more than one time for many famous traders "When the market ranging don't trade" like bill williams.
But which TF real trade use to say it's ranging or not!It depends on you.
I agree, and in this particular instance there has been a 1hr uptrend that developed into a 4hr uptrend so any trigger on the 1hr or less will have taken advantage of it..The daily t/f is though harder to read atm although generallybulllish correct at writing.
ex member
  • #181,211
  • Nov 6, 2009 2:49am Nov 6, 2009 2:49am
Quoting bbmac
Rubbish...' Real traders' as you call them can trade in whatever the market conditions be it trending or ranging, although I am not disputing that other sectors/instruments may be a good play at the moment.

G/L with your trades in those other instruments.
Hi bbmac,

No dispute either....I just say real traders look at all markets: forex, equities, commodities, bonds, futures, options......and they choose the ones which seem the most promising....

You are right .....experienced traders may also trade ranging markets, and I'm sure you are one who can do it well ....but believe me it's so easier and more rewarding to trade trending markets......

Good luck, very sincerely, with your ranging trades
Non licet omnibus adire Corinthum
  • #181,212
  • Nov 6, 2009 2:53am Nov 6, 2009 2:53am
Quoting javajames
Hi guys,

Forex keep wondering which is worse between US and GB economy....as long as it's so FX markets are untradable for real traders.....

GL to all

Not to worry, there are no 'real traders' here....
only mediocre court composers.



http://upload.wikimedia.org/wikipedi...Amadeusmov.jpg

"...mediocrities of the world I absolve you!"
Antonio Salieri, the half-mad composer.

Dr. D.
  • #181,213
  • Nov 6, 2009 2:57am Nov 6, 2009 2:57am
I prefare to trade all markets....Equities/Commodities/Indexes etc etc as I dont like the idea of waiting the whole day withouft making money....my time is money
  • #181,214
  • Nov 6, 2009 2:58am Nov 6, 2009 2:58am
Quoting Sedaka
If market makers or big boys can see this SL fig 1.6640 -1.6660 then any possibilities they will be shaken out before the trend continue bearish and also those who long(straddle) for this quick up move will also be shaken out.
IMHO the best thing for me is to stay aside and wait for the weakness...trade your own charts...
On ECN Accounts you can see the market depth, number of buyers and sellers @ different levels and know well in advance what they are thinking.
  • #181,215
  • Nov 6, 2009 3:02am Nov 6, 2009 3:02am
Quoting Mohammad
Gbp.Usd Down
But seems like your resistant line will be broken ....
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #181,216
  • Nov 6, 2009 3:04am Nov 6, 2009 3:04am
Quoting Breeze
I prefare to trade all markets....Equities/Commodities/Indexes etc etc as I dont like the idea of waiting the whole day withouft making money....my time is money
So true Breeze....real traders need to make money every day.....whether for their boss or their own account....
Non licet omnibus adire Corinthum
  • #181,217
  • Nov 6, 2009 3:10am Nov 6, 2009 3:10am
I have taken a small short with target of 1.6380

I know I should wait until the news in 20 minutes but that is my style: quick on the trigger.
  • #181,218
  • Nov 6, 2009 3:14am Nov 6, 2009 3:14am

Dear all, kindly advice if my analysis in the attachement is correct, negative comments will be highly appreciated.

Attached File(s)
File Type: doc Cable Nov. 5, 09.doc   377 KB | 353 downloads
  • #181,219
  • Nov 6, 2009 3:23am Nov 6, 2009 3:23am
I think we should be expecting the PPI Input m/mn and the PPI Output m/m to favour the GBP today and the news coming out from the US to go the other way before the resistance line can be broken today.

If the GBP gear up today agian that means that next week we will be looking to 1.7000.

Let keep on waiting for the news coming out of britain now.
  • #181,220
  • Nov 6, 2009 3:23am Nov 6, 2009 3:23am
Quoting manize
Halo firend ! No more fight with GM then ...
..when i fight with him..never lol..we align while am taking 139.70 GY and him on GU ~ 1.57 if not mistaken...

see back my earlier post...did i ?
mm...u missed judge us
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