Cable Update (GBPUSD)

big probability US will give a good news or atleast a "so so"...,and it is a "must" cos everyone expected in this news..,if they give bad news...$ in danger..,
and i think (i could be wrong)..it's so so, not to bad not to good.,but still green...,this moment is a good chance for US to show to the market and 'public' that "Dollar possible to be Stronger and out from long-long time crisis"..., thats just my IMHO...

and remember...,i could be wrong !!! right manize....

Friday February 5, 2010 (8:30am NY Time) US

NonFarm Payroll Forecast 10K Previous -85K
Unemployment Rate Forecast 10% Previous 10%
We'll be trading the NFP release today, which is expected at +10K
with a previous release of -85K; if you remember what happened last
NFP, you'd know that the last release disappointed the market and
kept USD under pressure for the better part of the months as after
a revision of November NFP to a positive number, the December
release brought back concerns over the rate of economic recovery.
At the time of writing this analysis, market is in full risk
aversion mode.
With the forecast on NFP turning positive for the first time, we
could see a bullish sentiment on the USD as a result of market
psychology. However, there are several things that we need to
consider for tomorrow's NFP release.
First of all, there is a possible increase in the total jobs count
as the Obama administration hired over 550K temporary workers for
the national census. Should this number make in the January 2010
count, expect to see a blow out positive number in the NFP release
and a possible 1.0% decrease in the unemployment rate.
Secondly, the BLS or Bureau of Labor Statistics will release its
annual benchmark revision for the payrolls. Expect to see a
significant downward revision on the first quarter of 2009, which
may offset the NFP release numbers all together if the revision is
significant.
Therefore, let's talk about how to trade this release: We'll wait
for the numbers to come out, but will not take any trade YET, even
if we get our tradable figures (-60K or 80K). We'll wait for a
possible revision to the previous release number, which is -85K, as
the market usually overreacts with the Revision and chances favor
for this trade to work out if we do not get conflicting releases
between the revision and the actual release; then we will wait for
the Benchmark Revision... at this point, still stay out of the market.
Then the next step is to wait for the Unemployment Rate, which is at
10.0%. If the Unemployment Rate were to surprise higher, we'll have
to really make an executive decision at the time of the release and
see what is the primary focus of traders. As long as we don't
surprise the 10.5%, I think the market will probably pay more
attention to the NFP release. Of course if the census workers were
to be included in this release, then expect to have a much lower
than expected unemployment rate... After all of the numbers have been released. Wait for the market to
push... then be patient and wait for a decent retracement before
getting in. Look for recent support/resistance areas for entry as a
high impact news with various components will usually be extremely
volatile, and those who are patient will always get a chance to
enter at much better entry.

pre NFP I am Long Cable with 2 Standard Lots

I can be wrong so try not to follow me.

I tossed a coin and heads came so I went long

This is on a live account.

Just for record.

I am long from 5686

i'm long too..,but in 1.5520...,hahaha to far may be..,i already place this limit order about a month ago..,

Bro u're one trader i respect so much and i knw there is a reason for ur trades. but please would u care to share the basis of ur trade with me. RESPECT MASTER

Height of Manipulation

Unemployment rate remains same @ 10%

NFP expected to show positive growth of 10K jobs to strengthen the dollar ??

Geez

This is a purposely manipulated market

There is a certain possibility that it plays out in this way.

But for all newbees, I would strongly advice to consider the possible outplay of the old trader’s saying - buy the rumor and sell the fact!!!
For my feeling the talking of better US numbers is on the channel a while and the move could be already anticipated.

Hey Bro , be careful with those longs out there , coz we broke the horizontal range 1.5710-1.7030 .
Make your stops tight , coz this baby is rough to deal with when it breaks out.
However , the pair is oversold , but not on the dailies

Goldman sachs get it spot on yet again..

now we knew the direction for next week

Is it just me or is the markets reaction to NFP become less and less explosive, I remember watching cable move more than 300 points in about 20 mins in the old days!

are you an idiot?

No! that never happened, show me a chart?

Ha, I think we had the biggest move on the “FF-serverload” tick chart.

More jobs lost than expected, but unemployment rate drops due to discouraged workers and thats good news?? I don't get it. Theres nothing good about this report.

Ok so I was exagerating slightly...actually looking back probably more than slightly, but we'd get atleast about 120 - 150 pips!

Ima go with YES.

But hey, that's just my opinion.

u still standing by your long? Or uve changed ur mind

GU has a resistance on 8H chart at 1.5670 plus suffering from oversold condition. I think it will be interesting to see it making a sustainable break below 1.5670.

If this is not accomplished in next couple of hours then 1.5800/900 may come back into scene.