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Cable Update (GBPUSD)

  • #220,361
  • Apr 22, 2010 12:25am Apr 22, 2010 12:25am
3rd consecutive day of selling the news -- hope so
  • #220,362
  • Apr 22, 2010 12:28am Apr 22, 2010 12:28am
Hey guys I got my quota for the week so I'm gonna cut out until next week. I had a great time on the forum this week. Thank Magix and Kill and Malcomb and Nene and Digger and BBaker and Wormie everyone else for the Voodoo Boodoo. Lookin' forward to gettin' down next week.

peace out
"The real genius is knowing when to stop." - Marc Faber
  • #220,363
  • Apr 22, 2010 12:37am Apr 22, 2010 12:37am
Why sell news if it is positive...?

Selloff maybe complete now...

Quoting free4440273
3rd consecutive day of selling the news -- hope so
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #220,364
  • Apr 22, 2010 12:42am Apr 22, 2010 12:42am
Quoting XTrade
Why sell news if it is positive...?

Selloff maybe complete now...
:shocked:
  • #220,365
  • Apr 22, 2010 12:45am Apr 22, 2010 12:45am
Quoting XTrade
Why sell news if it is positive...?

Selloff maybe complete now...

Ever heard the saying "Buy on the rumour, sell on the news"?

Also, the market moves to expectation, not reality - so good news can still be negative if not quite as good as the market anticipated.
  • #220,366
  • Apr 22, 2010 12:46am Apr 22, 2010 12:46am
Quoting The Magician
Ever heard the saying "Buy on the rumour, sell on the news"?

Also, the market moves to expectation, not reality - so good news can still be negative if not quite as good as the market anticipated.
read tues/wed for proof of that ...
  • #220,367
  • Apr 22, 2010 12:52am Apr 22, 2010 12:52am
True.. If you want to trade alone on a newstrade.

Yes I can understand selling the top of a huge spike. Good luck being 100% right on picking that.

Suppose you sell INTO a huge spike.

Ever watch how Oil moves on news??? Crude oil inventory?

My point is if you have a bias in ONE direction it is foolish to SELL into news.
Your thoughts and TP should be well set before entering any news trade.
Otherwise you are just gambling.

Usually with releases like NFPs there is a spike UP/Down then down and back up
the PA evens out in the middle back where it was before. So unless you're Up on all your economics, trade Ideas, bias, etc. Selling or buying on news spikes is a WHOLE different style of trading.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #220,368
  • Apr 22, 2010 12:55am Apr 22, 2010 12:55am
OK so? Today is Thursday. Things Change. Fast especially in FX... NO?
Quoting free4440273
read tues/wed for proof of that ...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #220,369
  • Apr 22, 2010 12:59am Apr 22, 2010 12:59am
We are coming up on the TL of recent.... Lets see what happens here.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #220,370
  • Apr 22, 2010 1:06am Apr 22, 2010 1:06am
Good figures coming out of eurozone today. If GBP news falls a bit short of expectation could see the rally up on EG continuing from this mornings low of .8660
  • #220,371
  • Apr 22, 2010 1:15am Apr 22, 2010 1:15am
GB data 15 mins
  • #220,372
  • Apr 22, 2010 1:29am Apr 22, 2010 1:29am
Quoting XTrade
True.. If you want to trade alone on a newstrade.

My point is if you have a bias in ONE direction it is foolish to SELL into news.
Your thoughts and TP should be well set before entering any news trade.
Otherwise you are just gambling.
Usually the market factors in the expectation before a news release, so if the market has factored in fantastic news, and the news is only good, there will probably be a drop in price to account for this. So trading news isn't as black and white as it seems.
  • #220,373
  • Apr 22, 2010 1:37am Apr 22, 2010 1:37am
THere is no science as to trading news releases. Some have similar reactions some are adverse - others reactive, some non-existent,
finally some to the contrary.

If someone was holing a cable long from say 5250 selling or buying into any news release is foolish in my opinion. I observe read and sometimes trade news.

Yet I am not a "news trader" there are people here as you well may know that look for more than just saying -
Short cable @ XXX
out with 10 pips Yay.

Believe me, If there is a system you have for trading the long and short side of NFPs for 200+ pips I would love to know!!



Quoting The Magician
Usually the market factors in the expectation before a news release, so if the market has factored in fantastic news, and the news is only good, there will probably be a drop in price to account for this. So trading news isn't as black and white as it seems.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #220,374
  • Edited 1:53am Apr 22, 2010 1:39am | Edited 1:53am
So far the "Poor" (Actually Retail sales higher than previous) news from GB has Boosted cable off the Trendline that London has typically sold down to..... Let's see where it goes.

Some may say this is better than expected.. Just b/c it does not meet FF forecast does not mean it is not positive for the economy.

Economists are WRONG often, just like traders can be/.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #220,375
  • Apr 22, 2010 1:44am Apr 22, 2010 1:44am
I am probably late with my buy limit?
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 33 KB

I din't see this sonner
  • #220,376
  • Apr 22, 2010 1:46am Apr 22, 2010 1:46am
au revoir cable!
  • #220,377
  • Apr 22, 2010 1:54am Apr 22, 2010 1:54am
gbpjpy getting ready to explode.
come on cable ... you can do it!
Attached Image
Thank You
  • #220,378
  • Apr 22, 2010 1:55am Apr 22, 2010 1:55am
  •  melba
  • | Joined Nov 2009 | Status: ...just surfing the wave... | 97 Posts
....my take is that in a case like this one , news a bit disappointing (retail sales below exp , and pub sect borrowing in line but still very high ) ,but £ holding / rising when logically should be drifting , means buyers still out there , tryiing to break up the downtrend on daily chart ... on my daily , i don't know exactly where dtl is , 1.55 /1.5530 ....so maybe we will go towards those points ..i'd rather wait and miss some pips until confirmation , break up.... or back down......
  • #220,379
  • Apr 22, 2010 1:58am Apr 22, 2010 1:58am
Quoting free4440273
au revoir cable!
Why?
  • #220,380
  • Apr 22, 2010 1:59am Apr 22, 2010 1:59am
Quoting wormboy
gbpjpy getting ready to explode.
come on cable ... you can do it!
Yes it can...& waiting eurusd to explode to the upside as well
COT: The precious data ignored
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