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Cable Update (GBPUSD)

  • #219,741
  • Apr 20, 2010 6:31am Apr 20, 2010 6:31am
Quoting sensei
I have heard it said, and have proven it right many times, that the news is already factored in by the main market players long before it is released. This accounts for the anomaly of good news for a currency doesnt necessarily send it skyrocketing in any direction. Cable has been a good example of this. Lousy news for the dollar often sees the dollar strengthening against the pound.
  • #219,742
  • Apr 20, 2010 6:31am Apr 20, 2010 6:31am
Hey All, as I said yesterday, whether it goes up or down, I am buying, regardless.

Jim


Quoting Bull_Bear
Bang on Nene
  • #219,743
  • Apr 20, 2010 6:32am Apr 20, 2010 6:32am
Again !



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  • #219,744
  • Apr 20, 2010 6:35am Apr 20, 2010 6:35am
Quoting sensei
I have heard it said, and have proven it right many times, that the news is already factored in by the main market players long before it is released. This accounts for the anomaly of good news for a currency doesnt necessarily send it skyrocketing in any direction. Cable has been a good example of this. Lousy news for the dollar often sees the dollar strengthening against the pound.
lousy news in current state is positive for dollar because its still regarded as safer currency. With regards to whether news have been factored in or not I believe its true but to a certain extent because sometimes you see huge movements when data comes out as expected and when data comes out way out of line with expectations. One thing about this market is it's heaviliy traded by black boxes these days which base trades on some fancy algorythms and they can distort prices quite heavily especially during news time when new data gets fed into the model.
  • #219,745
  • Apr 20, 2010 6:36am Apr 20, 2010 6:36am
Fact: We are in an uptrend.
Fact: We are at a crossroads, the price is testing the backside of this
Daily UTL.
Fact: It is a generic UTL created by Sundays gap so it may not hold up.
Fact: Even if it does hold up I am buying on the way down.

Jim
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  • #219,746
  • Apr 20, 2010 6:36am Apr 20, 2010 6:36am
Quoting Nene
Hey All, as I said yesterday, whether it goes up or down, I am buying, regardless.

Jim

best of luck u trade what u see
  • #219,747
  • Apr 20, 2010 6:38am Apr 20, 2010 6:38am
Quoting Nene
Hey All, as I said yesterday, whether it goes up or down, I am buying, regardless.

Jim
Hi bro
I know u good trader but if u do so then u asking the Rhythm only go with ur moves But you suppose move with it Up or Down

GL
  • #219,748
  • Apr 20, 2010 6:39am Apr 20, 2010 6:39am
Great stuff, just back from my meeting and see that my 1.5430 entry triggered and closed it manually at 1.5398. Now at B/E + 10. Next entry is a short at 1.5460 if gets that high.
  • #219,749
  • Apr 20, 2010 6:40am Apr 20, 2010 6:40am
Quoting Nene
Hey All, as I said yesterday, whether it goes up or down, I am buying, regardless.

Jim

sorry if i missed your posts but why so bullish?
  • #219,750
  • Apr 20, 2010 6:40am Apr 20, 2010 6:40am
I am ignoring the 2 candles in the grey area right now. They are an aberation to me so far, especially if the Daily closes above the Red line.

Jim
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  • #219,751
  • Apr 20, 2010 6:43am Apr 20, 2010 6:43am
Because the weekly and Daily are going up. I am a true believer in the trend is your friend.

Quoting lexazver
sorry if i missed your posts but why so bullish?
  • #219,752
  • Apr 20, 2010 6:43am Apr 20, 2010 6:43am
Quoting Nene
Fact: We are in an uptrend.
Fact: We are at a crossroads, the price is testing the backside of this
Daily UTL.
Fact: It is a generic UTL created by Sundays gap so it may not hold up.
Fact: Even if it does hold up I am buying on the way down.

Jim
Fact: overconfidence leads to poor decisions.....
  • #219,753
  • Apr 20, 2010 6:44am Apr 20, 2010 6:44am
Quoting sensei
I have heard it said, and have proven it right many times, that the news is already factored in by the main market players long before it is released. This accounts for the anomaly of good news for a currency doesnt necessarily send it skyrocketing in any direction. Cable has been a good example of this. Lousy news for the dollar often sees the dollar strengthening against the pound.
That is because the GBP is considered as high-risk assets while the USD is considered as low-risk same as JPY.. That is because, during a recession, traders will move their assets to USD & JPY. In the event of a booming, a lot of traders/money managers or even the laymen have interest to invest in the high-risk assets to get higher return of their investments.

Now speaking of lousy news, it's hard to gauge the scenario/impact in the two continentals. Which is the lousiest of the two? However, this can be done by analyzing the pattern of the candles in the higher timeframe to see the current sentiment of the pair, just to get some ideas where the majority of people/people or organization with lots of money think of the pair movement. Because of this believe, we have the support & resistance, fibo etc...
  • #219,754
  • Apr 20, 2010 6:45am Apr 20, 2010 6:45am
short again after today's loss.. @ 1.5395.. sl 1.5445 tp unknown..
  • #219,755
  • Apr 20, 2010 6:46am Apr 20, 2010 6:46am
Hi all, geez I really like this forum. always learn something.

i have an offer at 5425 now that sellers have enough time to pile on the 5450ish bandwagon. But it doesn't look too convincing that it will reach that again any time soon.

what happened to the risk trade? One day Goldman was bad news, the next its like nothing has happened. Goldman is bad for the cable because finance is the soul of the UK and recovery is tied to this. If banks are now being overly regulated and held accountable for their financial engineering then how else is the UK economy going to move ahead from here?

But I agree with many posts here, that the market decides what it decides. It doesn't care about what I think.

However, I hope it stays irrational long enough tonight to hit my 5425 offer. (SL 5461)
  • #219,756
  • Apr 20, 2010 6:48am Apr 20, 2010 6:48am
Look at the respect this Dashed Daily UTL has gotten. Do I have to say more.

J
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  • #219,757
  • Apr 20, 2010 6:50am Apr 20, 2010 6:50am
Then how come I was long yesterday when most were heading down. I made 187 pips yesterday, how about you?

J

Quoting Temps
Fact: overconfidence leads to poor decisions.....
  • #219,758
  • Apr 20, 2010 6:51am Apr 20, 2010 6:51am
Price pulling back off the Hi at the descending trend line -1hr with 76.4% of 5509-5190, price at 102% of it's average 20day range there....

Where will the buyers come back in?? answers on a postcard to .........

http://i39.tinypic.com/10z94xf.jpg

G/L
ex member
  • #219,759
  • Apr 20, 2010 6:52am Apr 20, 2010 6:52am
This may come down to around 1.5285, but I am cool with that.
  • #219,760
  • Apr 20, 2010 6:53am Apr 20, 2010 6:53am
Quoting Nene
Then how come I was long yesterday when most were heading down. I made 187 pips yesterday, how about you?

J
congratulations.... i had an ok day.... just be carefull because nobody knows where this thing is going all the time......
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