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Cable Update (GBPUSD)

  • #216,521
  • Apr 13, 2010 3:10am Apr 13, 2010 3:10am
I have a feeling news will be positive due to upcoming elections. This will push cable up to around 1.5420 marker (just happens to be my close, but there you go) then its time to hit the top shelf and help yourself to some shorts
  • #216,522
  • Apr 13, 2010 3:20am Apr 13, 2010 3:20am
Let's see if the news is going to give us some whipsaws
  • #216,523
  • Apr 13, 2010 3:28am Apr 13, 2010 3:28am
bot @ 5353
Its all in the mind.
  • #216,524
  • Apr 13, 2010 3:30am Apr 13, 2010 3:30am
In long 1.535 from 10am, need to see break thru of 1.538, if not see us going east bouncing bet 153 highs and lows
  • #216,525
  • Apr 13, 2010 3:31am Apr 13, 2010 3:31am
Quoting cloggie
Here comes the bounce, eyes on 538
OK, that was 538, trade balance slightly worse. Will be looking for shorts shortly
  • #216,526
  • Apr 13, 2010 3:32am Apr 13, 2010 3:32am
Quoting cloggie
OK, that was 538, trade balance slightly worse. Will be looking for shorts shortly
slightly worse??? isnt it slightly betteR?
  • #216,527
  • Apr 13, 2010 3:33am Apr 13, 2010 3:33am
Quoting cloggie
OK, that was 538, trade balance slightly worse. Will be looking for shorts shortly
me too, pump was abysmal!
  • #216,528
  • Apr 13, 2010 3:33am Apr 13, 2010 3:33am
Quoting 5abi
bot @ 5353

out @ + 20

i took this off the massive volume that printed on h1 just before news
Its all in the mind.
  • #216,529
  • Apr 13, 2010 3:33am Apr 13, 2010 3:33am
Quoting cloggie
OK, that was 538, trade balance slightly worse. Will be looking for shorts shortly
slightly worse??????????
  • #216,530
  • Apr 13, 2010 3:38am Apr 13, 2010 3:38am
OK thats the good news for GBP but not sufficient enough to support mass movements. Expect to trade a tightish range until US trade figures this afternoon. Then the action will commence.

Still holding my long for now
  • #216,531
  • Edited 3:49am Apr 13, 2010 3:38am | Edited 3:49am
Quoting lexazver
slightly worse??? isnt it slightly betteR?
Don't just look at the headline figure, non EU deficit actually grew so a weaker Sterling is not helping, if you take out the weakening of the Sterling even the headline figure went down. Also the services deficit grew and the price of capital imports went up. Imports went down, how is that a good indication of an economic recovery?

Here you go
  • #216,532
  • Apr 13, 2010 3:39am Apr 13, 2010 3:39am
it was slightly better - but bulls could not pump it!
  • #216,533
  • Apr 13, 2010 3:44am Apr 13, 2010 3:44am
ok so guys, what's the view for cable today?
  • #216,534
  • Apr 13, 2010 3:46am Apr 13, 2010 3:46am
Quoting marcus1rex
ok so guys, what's the view for cable today?
Without being rude, read a couple of pages of posts and you'll get quite a good indication. Depending on posters strategies there will be a mixture of thoughts some selling, some buying!!!!
  • #216,535
  • Apr 13, 2010 3:50am Apr 13, 2010 3:50am
Quoting cloggie
Don't just look at the headline figure, non EU deficit actually grew so a weaker Sterling is not helping, if you take out the weakening of the Sterling even the headline figure went down. Also the services deficit grew and the price of capital imports went up. Imports went down, how is that a good indication of an economic recovery?

Here you go
aahhh cool, thanks man! all i can se is headline figure
  • #216,536
  • Apr 13, 2010 3:51am Apr 13, 2010 3:51am
Quoting free4440273
it was slightly better - but bulls could not pump it!
Well, perhaps.. as you said "slightly better", so = slightly bullish.. anyway, based on technical I think it is going up... just have some patience...
Have a nice day.
  • #216,537
  • Apr 13, 2010 3:53am Apr 13, 2010 3:53am
Quoting marcus1rex
ok so guys, what's the view for cable today?
535 has acted as a strong support and with the news prices would head higher then the bears would be in for a feast @ NY open.
543 should be the next resistance
  • #216,538
  • Apr 13, 2010 3:53am Apr 13, 2010 3:53am
I know I'm going to regret this, but I've closed my long for an 25 pip profit. Not convinced it's going to get up to 1.5420 after all. Looks like it's going to head south from here but I'm not entering my short yet. Sidelined!!!
  • #216,539
  • Apr 13, 2010 3:54am Apr 13, 2010 3:54am
Quoting lexazver
aahhh cool, thanks man! all i can se is headline figure

Glance over the link I included in my post, the report is 31 pages long and takes a bit of time to digest, that is the main reason you don't see an effect immediately. The initial kneejerk is buying on a good headline figure and once digested you see the "real" result of the news. There are different ways to trade the news, in general I just stay out and let the market tell me what effect the news has, it is all priced in. There are some good threads on news trading on the board here if you are interested.

A close above the pivot; the market likes the news (not likely) a close below 538 and we are looking bearish again.
  • #216,540
  • Apr 13, 2010 3:54am Apr 13, 2010 3:54am
This morning's post....

http://www.forexfactory.com/showpost...stcount=216372

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