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Cable Update (GBPUSD)

  • #237,101
  • Jul 12, 2010 4:13am Jul 12, 2010 4:13am
Quoting kingsteven
Going smoothly.
Time to set trailing stop & sleep for a while.
Good Luck all

"Keep your eyes on the helpers" - Mr. Rogers
  • #237,102
  • Jul 12, 2010 4:21am Jul 12, 2010 4:21am
Hello traders,

this is an article from forexlive.com:

Dow Jones reports the bank has given 7 reasons cable is headed for 1.4000
1) Rest of BOE MPC unlikely to to join Sentance in calling for rate hike
2) Beneficial effects of last month’s budget now priced in
3) Scale of budget cuts will undermine growth
4) Exports can’t be relied on to take up the slack
5) BOE will introduce further QE if needed
6) Tighter fiscal policy/looser monetary policy can result in a much weaker pound as seen after the 1981 austerity budget
7) Other currencies, such as yen, have experienced prolonged weakness when fiscal policy has been tightened during times of economic weakness.
Bank favours selling cable at 1.4975, stop above 1.5270, target 1.4000.

Good luck for the week
  • #237,103
  • Jul 12, 2010 4:28am Jul 12, 2010 4:28am
Quoting kill56
watch for 15049
nice one kill. hope you got all the pips.
i was sh at 1.5070 but bed time only got me 15 pips
  • #237,104
  • Jul 12, 2010 4:29am Jul 12, 2010 4:29am
sold one @ 149.73
  • #237,105
  • Jul 12, 2010 4:34am Jul 12, 2010 4:34am
Just my prediction, this chart maybe will be head & shoulder
I'm going to sleep now
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  • #237,106
  • Edited 4:45am Jul 12, 2010 4:34am | Edited 4:45am
Quoting dag777
Hello traders,

this is an article from forexlive.com:

Dow Jones reports the bank has given 7 reasons cable is headed for 1.4000
1) Rest of BOE MPC unlikely to to join Sentance in calling for rate hike
2) Beneficial effects of last month’s budget now priced in
3) Scale of budget cuts will undermine growth
4) Exports can’t be relied on to take up the slack
5) BOE will introduce further QE if needed
6) Tighter fiscal policy/looser monetary policy can result in a much weaker pound as seen after the 1981 austerity budget
7) Other currencies,...
i think cable must test 1.55 before heading south to 1.4.just my view...
Gold Expedition Return This Year: -16.4%
  • #237,107
  • Jul 12, 2010 4:43am Jul 12, 2010 4:43am
Quoting budak baru
i think cable must test 1.55 before heading south to 1.4.just my view...
Why would it?
It tested main UTL and failed
It broke minor LTL and confirmed
imo it's over and done

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Click to Enlarge Name: Picture0078.png Size: 31 KB
Don't be a hero. Don't have an ego. Always question yourself
  • #237,108
  • Jul 12, 2010 4:43am Jul 12, 2010 4:43am
Quoting budak baru
i think cable must test 1.55 before heading south to 1.4.just my view...

The post above is UBS view.

In my view i also had the 1.5350 for test before downfall resumes, but maybe we have seen the top with 1.5240, i don´t know...
  • #237,109
  • Jul 12, 2010 4:48am Jul 12, 2010 4:48am
Quoting USD-Bear
Why would it?
It tested main UTL and failed
It broke minor LTL and confirmed
imo it's over and done

Attachment
yes.but price need to break 1.4474.my view valid as long 1.4227 hold.thanks for comment
Gold Expedition Return This Year: -16.4%
  • #237,110
  • Jul 12, 2010 4:49am Jul 12, 2010 4:49am
Quoting dag777
The post above is UBS view.

..... but maybe we have seen the top with 1.5240, i don´t know...

..and in that, you are in good company...none of us know, not even UBS...all we have is our trading edge beit tech or fundamentallly based....trade what you see not what you think...no analysis is predictive it just provides us with a edge, play the edge and don't worry about what may or may not happen next...it is unimportant - If our edge is good then proper money and risk managemnet allied/optimised to it will provide a net gain over any given sample of times it sets-up.-the exact sequennce of winning and losing trades in that sample, derived from acting when the edge sets-up, is unknown to us in advance-so why worry about where price will go next...No one knows, it's that siimple.

G/L
ex member
  • #237,111
  • Jul 12, 2010 4:52am Jul 12, 2010 4:52am
Quoting dag777
The post above is UBS view.

In my view i also had the 1.5350 for test before downfall resumes, but maybe we have seen the top with 1.5240, i don´t know...
yes we need to test 1.5350 first...i agree with u...
Gold Expedition Return This Year: -16.4%
  • #237,112
  • Jul 12, 2010 4:54am Jul 12, 2010 4:54am
Quoting budak baru
yes.but price need to break 1.4474.my view valid as long 1.4227 hold.thanks for comment
Can you explain why it has to do that before you turn bearish?
I'm not a scalper but even for me waiting for a movement of more then 500 pips is a lot to become bearish....
Don't be a hero. Don't have an ego. Always question yourself
  • #237,113
  • Jul 12, 2010 4:57am Jul 12, 2010 4:57am
I'm looking at the daily stochastic, really really steep. usually when it's this steep, it's most likely gonna continue for a couple of days.
  • #237,114
  • Jul 12, 2010 4:59am Jul 12, 2010 4:59am
Quoting Privet
hello kill !
please tell me, when this template shows me "open" and "close"

help

hi queen how are u

what templat u re talking about
  • #237,115
  • Jul 12, 2010 5:04am Jul 12, 2010 5:04am
salam hi all

both targets are met still looking for ema200 on h4 14920's enjoy
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  • #237,116
  • Jul 12, 2010 5:04am Jul 12, 2010 5:04am
Quoting USD-Bear
Can you explain why it has to do that before you turn bearish?
I'm not a scalper but even for me waiting for a movement of more then 500 pips is a lot to become bearish....
this my short term view.for now sell to 1.4871.reverse buy at 1.49 and short at 1.5130..

my 4h chart
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Gold Expedition Return This Year: -16.4%
  • #237,117
  • Jul 12, 2010 5:06am Jul 12, 2010 5:06am
Quoting winsome
nice one kill. hope you got all the pips.
i was sh at 1.5070 but bed time only got me 15 pips
thank god it was a good ride
  • #237,118
  • Jul 12, 2010 5:07am Jul 12, 2010 5:07am
Quoting budak baru
yes we need to test 1.5350 first...i agree with u...
hmmm, not sure if I agree with this.

if anything, we'll retest the swing high which is at 1.524

why are you saying 1.535?
  • #237,119
  • Jul 12, 2010 5:12am Jul 12, 2010 5:12am
and this is for my medium term view.buy from 1.4474 targetting to test 1.5523...
your comment is appreciated....
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Gold Expedition Return This Year: -16.4%
  • #237,120
  • Jul 12, 2010 5:18am Jul 12, 2010 5:18am
Quoting bbmac
..and in that, you are in good company...none of us know, not even UBS...all we have is our trading edge beit tech or fundamentallly based....trade what you see not what you think...no analysis is predictive it just provides us with a edge, play the edge and don't worry about what may or may not happen next...it is unimportant - If our edge is good then proper money and risk managemnet allied/optimised to it will provide a net gain over any given sample of times it sets-up.-the exact sequennce of winning and losing trades in that sample, derived...

Thank you for your comment,
my intention by posting this news was to show that banks do see fundamental reasons in near future which could stop pound rising.
If there comes talk of possible further QE, or other mentionend
reasons in this article, we could see sky falling down.

But as daytrader i´m only trading short term,
never would take a longterm position based on such article.
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