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Cable Update (GBPUSD)

  • #250,821
  • Sep 3, 2010 2:06am Sep 3, 2010 2:06am
She seems reluctant to drop under the WS1 level of 15395 area. Maybe she will stay in tight range now until NFP?
  • #250,822
  • Sep 3, 2010 2:06am Sep 3, 2010 2:06am
Quoting Dayboy001
There is a file icon to the left of where the number appears / appeared , if you click on that it gives you information about each news event.
Ok got it. It's different for different news. I thought it's an faq thingy thanks.
  • #250,823
  • Sep 3, 2010 2:07am Sep 3, 2010 2:07am
Forexcrunch.com see NFP like this:

Here are 5 scenarios for the Non-Farm Payrolls and their effect on the dollar:

  1. NFP at -100K, private sector +40K – exactly as expected. Choppy trading but no significant move.
  2. NFP at -70K or better, private sector at +70K or better – better than expected. Dollar gains sharply.
  3. NFP at -70K or better, private sector at +40K – better than expected – dollar gains.
  4. NFP at -70K or better, private sector unchanged – surprising but mixed – dollar stalls.
  5. NFP at -150K, private sector at +40K – disappointing but not too bad – dollar retreats.
  6. NFP at -150K, private sector unchanged – disappointing – dollar falls.
  7. NFP at -150K or worse, private sector at -40K or worse, a significant loss of jobs in the private sector. This is the worst case scenario that will raise the talk of a double dip recession. In this case the dollar will gain on risk aversion.

G/L

ex member
  • #250,824
  • Sep 3, 2010 2:08am Sep 3, 2010 2:08am
In my previous posts I explained why I was short http://www.forexfactory.com/showpost...stcount=250779

I was also hoping some help from GB news.....now it's done and I took my first profit .....

As my analysis is still the same, time to add to my short positions at a higher level (1.54200;1.54375)

And maybe Ill take some longs too before the release....

Trade well
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Non licet omnibus adire Corinthum
  • #250,825
  • Sep 3, 2010 2:09am Sep 3, 2010 2:09am
Any1 knows something good or bad about FXPRO?
  • #250,826
  • Sep 3, 2010 2:09am Sep 3, 2010 2:09am
Quoting 4xStar
Only if you're into numerology....
Kidding .. not sure if it has a particular significance, in this case my opinion is the upmove was rather fake, looking for any excuse to resume downtrend again ... I could be wrong.
i buy at 1.5397, i think 20-30 pips will be reached.... hehehehee got 30pips on the news
yesterday was good, today is the best, tomorrow is amazing.....
  • #250,827
  • Sep 3, 2010 2:12am Sep 3, 2010 2:12am
Quoting javajames
In my previous posts I explained why I was short http://www.forexfactory.com/showpost...stcount=250779

I was also hoping some help from GB news.....now it's done and I took my first profit .....

As my analysis is still the same, time to add to my short positions at a higher level (1.54200;1.54375)

And maybe Ill take some longs too before the release....

Trade well
So you are expecting NFP news to contribute to $ strength?

I am also biased short but for different reasons.

When you say 'time to add' at 1.5420 -37, you are expecting a retracement to those levels??
******************* I'd rather make money than be right.
  • #250,828
  • Sep 3, 2010 2:12am Sep 3, 2010 2:12am
Quoting dougie_II
GBP already completed it's move by the time the news came out.
was moving 10 minutes before hand
How am I supposed to trade against that?
MACD Divergence lead the way on the 1 min that aswell as the fact that its common for the market to reverse asia direction early on in the trading session
good luck with the rset of the day traders
Cats
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Trade what you see never what you think!
  • #250,829
  • Sep 3, 2010 2:14am Sep 3, 2010 2:14am
Quoting wormboy
cleared all my short positions for cable. gbplfx had a decent bounce off the final support.
I'll be looking for opportunities to long cable later if price can clear 5420.

Good luck.
Still ranging & going into a tight bottleneck. Not surprising heading into the nfp.
But sure has all the making of a big move north. I'm not looking to sell today, unless price close below 5340.

Good luck.
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Thank You
  • #250,830
  • Sep 3, 2010 2:17am Sep 3, 2010 2:17am
Quoting TheCatsPJs
MACD Divergence lead the way on the 1 min that aswell as the fact that its common for the market to reverse asia direction early on in the trading session
good luck with the rset of the day traders
Cats

and you can see the previous 1hr swing hi=prev resistance=potential resistance zone from where it fell aided by that data...Similarly 2nd pic shows the bullish divergence set-up again on 1min trigger from that weekly S1/asian lo area...

G/L
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ex member
  • #250,831
  • Sep 3, 2010 2:18am Sep 3, 2010 2:18am
Quoting wormboy
Still ranging & going into a tight bottleneck. Not surprising heading into the nfp.
But sure has all the making of a big move north. I'm not looking to sell today, unless price close below 5340.

Good luck.
Well you are rarely wrong! But I still see south and JJ seems to agree with that for different reasons.
I guess that's a good reason for me to be flat atm
******************* I'd rather make money than be right.
  • #250,832
  • Sep 3, 2010 2:19am Sep 3, 2010 2:19am
Good trading opportunities for intraday swings, trading within the bigger range the past 4 days, using 15m/30m charts.


Trying to predict tops and/or bottoms never worked for me.
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" Never let the past hold the future to ransom "
  • #250,833
  • Sep 3, 2010 2:20am Sep 3, 2010 2:20am
Quoting mloistianto
POUND has no strength at all.. all bullish movement i think its fake.. we will go down.
hi.. i am just a newbie...

1) just wanna know what the fake movement is
2) when we can identify real movement.. in news time or in non news time ?

Thank you for the answer before and after.

rgds,iqyu
not euphoria follower
  • #250,834
  • Sep 3, 2010 2:23am Sep 3, 2010 2:23am
Quoting 4xStar
So you are expecting NFP news to contribute to $ strength?

I am also biased short but for different reasons.

When you say 'time to add' at 1.5420 -37, you are expecting a retracement to those levels??
As I said previously, I believe in a scenario in which pros are buying in expectation of bad NFP figures....and after the release they'll also buy all the bulls (sell positions) to get double profit......up and down as they usually do in these NFP news days.....

So yes I believe in retracement maybe even higher then 1.54375

Trade well
Non licet omnibus adire Corinthum
  • #250,835
  • Sep 3, 2010 2:24am Sep 3, 2010 2:24am
alright Crew...no trades worth taking...I'm off...
Have a great weekend everyone!
Hear the music before the song is over ...
  • #250,836
  • Sep 3, 2010 2:28am Sep 3, 2010 2:28am
Quoting javajames
As I said previously, I believe in a scenario in which pros are buying in expectation of bad NFP figures....and after the release they'll also buy all the bulls (sell positions) to get double profit......up and down as they usually do in these NFP news days.....

So yes I believe in retracement maybe even higher then 1.54375

Trade well
Thanks
******************* I'd rather make money than be right.
  • #250,837
  • Sep 3, 2010 2:30am Sep 3, 2010 2:30am
If not this scenario i'm already positioned south and i'll take my profit.....before the release.....and so $ will be in my thoughts only next week......
Non licet omnibus adire Corinthum
  • #250,838
  • Sep 3, 2010 2:31am Sep 3, 2010 2:31am
Quoting Bull_Bear
Here's the first trade..

sell 1.5395.. SL 1.5500.. TP 1.5190
Here's an update....

Do your head in PA but holding short.... still
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #250,839
  • Sep 3, 2010 2:31am Sep 3, 2010 2:31am
Quoting wormboy
Still ranging & going into a tight bottleneck. Not surprising heading into the nfp.
But sure has all the making of a big move north. I'm not looking to sell today, unless price close below 5340.

Good luck.
  • #250,840
  • Sep 3, 2010 2:32am Sep 3, 2010 2:32am
Quoting javajames
If not this scenario i'm already positioned south and i'll take my profit.....before the release.....and so $ will be in my thoughts only next week......
How do you trade both ways? Two accounts?
******************* I'd rather make money than be right.
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