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Cable Update (GBPUSD)

  • #255,401
  • Sep 23, 2010 8:45am Sep 23, 2010 8:45am
Quoting bbakker
There is going to be no flying. DIX is at a demand level and below that are several more demand levels.

Attachment

The path of least resistance is up on DIX. If anything we will be ranging for a while maybe heading downwards in GU and EU.

We shall see what happens, but to be honest I can't see any flying. The threat of QE2 is now priced into the $, although if the Fed actually do it, we will probably see more $ weakening... certainly not £ strengthening.
Also bare in mind that BoE mentioned the possibility of more QE, may even beet the fed to it. Seems to me that puts £ in same catagory as $
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  • #255,402
  • Sep 23, 2010 8:47am Sep 23, 2010 8:47am
Quoting bbakker
There is going to be no flying. DIX is at a demand level and below that are several more demand levels.

Attachment

The path of least resistance is up on DIX. If anything we will be ranging for a while maybe heading downwards in GU and EU.

We shall see what happens, but to be honest I can't see any flying. The threat of QE2 is now priced into the $, although if the Fed actually do it, we will probably see more $ weakening... certainly not £ strengthening.

All have a good day. I have now got my meet with the big(ish) cheese.
Didn't that last red candle breaks the support mate?
  • #255,403
  • Sep 23, 2010 8:48am Sep 23, 2010 8:48am
Quoting Uphios
Also bare in mind that BoE mentioned the possibility of more QE. Seems to me that puts £ in same catagory as $
Agreed-BoE will weigh on the price imo
  • #255,404
  • Sep 23, 2010 8:48am Sep 23, 2010 8:48am
EUR and GBP to fall like a rock.
________________________________ Errare humanum est
  • #255,405
  • Sep 23, 2010 8:50am Sep 23, 2010 8:50am
Quoting A-speculator
Didn't that last red candle breaks the support mate?
Those are not support lines! They are demand and supply zones. A zone consists of 2 lines and so therefore the last red candle just entered the support zone.
  • #255,406
  • Sep 23, 2010 8:50am Sep 23, 2010 8:50am
Quoting bbakker
There is going to be no flying. DIX is at a demand level and below that are several more demand levels.

Attachment

The path of least resistance is up on DIX. If anything we will be ranging for a while maybe heading downwards in GU and EU.

We shall see what happens, but to be honest I can't see any flying. The threat of QE2 is now priced into the $, although if the Fed actually do it, we will probably see more $ weakening... certainly not £ strengthening.

All have a good day. I have now got my meet with the big(ish) cheese.

hey bro

i like u new toy i new where to find u hoe every thing

all great in here hope u and the little ones doing the same

market is waiting for the home sales i will be visiting the new home soon
  • #255,407
  • Sep 23, 2010 8:54am Sep 23, 2010 8:54am
A lot of selling and rejectings @1.5705, odds are we go down from here, but ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #255,408
  • Sep 23, 2010 8:55am Sep 23, 2010 8:55am
Quoting chazzle
Agreed-BoE will weigh on the price imo

The bit I never understand about the markets are like this mornings UK news.
The number of mortgages approved by banks for home buyers fell in August for the third month in a row. The number of home loans to house buyers was at its lowest since April last year.

The result of this was a drop in the £ as you would expect. But then 20 minutes later is a rise of 100 points, nearly as much as on Fed news day, and as far as I can determine for no reason at all. Really annoys me that I can not understand the reason why.

Grrrrrrr.
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  • #255,409
  • Sep 23, 2010 8:55am Sep 23, 2010 8:55am
Quoting Uphios
Also bare in mind that BoE mentioned the possibility of more QE, may even beet the fed to it. Seems to me that puts £ in same catagory as $
Exactly, although probably not to the same scale. BoE were thinking of adding another £25bn to the £200bn they have already printed.

What does that mean for us... some serious inflation somewhere down the line.

What does that mean for the currencies... both will weaken against other currencies!
  • #255,410
  • Sep 23, 2010 8:57am Sep 23, 2010 8:57am
Quoting Uphios
The bit I never understand about the markets are like this mornings UK news.
The number of mortgages approved by banks for home buyers fell in August for the third month in a row. The number of home loans to house buyers was at its lowest since April last year.

The result of this was a drop in the £ as you would expect. But then 20 minutes later is a rise of 100 points, nearly as much as on Fed news day, and as far as I can determine for no reason at all. Really annoys me that I can not understand the reason why.

Grrrrrrr.
Try to ignore the fundamentals. Price is based on demand and supply just like anything else in life. News is usually already factored into the price, unless the news was not forseen!
  • #255,411
  • Sep 23, 2010 8:58am Sep 23, 2010 8:58am
Quoting Turveyd
A lot of selling and rejectings @1.5705, odds are we go down from here, but ??

I ROCK well thus far


MORE BABY MOVE!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #255,412
  • Sep 23, 2010 8:59am Sep 23, 2010 8:59am
Going Long at market..Entry price 1.5677... Reason for long is the bullish PA action for the past several hours...

EDIT: Forgot about the news.. Closed the position seconds before news for break even
  • #255,413
  • Sep 23, 2010 8:59am Sep 23, 2010 8:59am
Quoting kill56
hey bro

i like u new toy i new where to find u hoe every thing

all great in here hope u and the little ones doing the same

market is waiting for the home sales i will be visiting the new home soon
Good to see you bruv! Hope the move goes smoothly and send my regards to your family. Now I really need to go and see the big(ish) cheese. I am already late, although he likes to rabbit on a bit and my colleague is in with him now!
  • #255,414
  • Sep 23, 2010 9:00am Sep 23, 2010 9:00am
Quoting chazzle
Start again from 15700 (short that is)
closing for 25 (0.25%)
  • #255,415
  • Sep 23, 2010 9:00am Sep 23, 2010 9:00am
Quoting Uphios
The bit I never understand about the markets are like this mornings UK news.
The number of mortgages approved by banks for home buyers fell in August for the third month in a row. The number of home loans to house buyers was at its lowest since April last year.

The result of this was a drop in the £ as you would expect. But then 20 minutes later is a rise of 100 points, nearly as much as on Fed news day, and as far as I can determine for no reason at all. Really annoys me that I can not understand the reason why.

Grrrrrrr.
unless your edge is fundamentally based you don't have to and most of the time in short term movemnets - you won't, and you are not alone in that....also don't try mixing techs with fundies unless you are using techs for a timed entry into a fundie based trade. Fundamental analysis as an edge is not good for intraday price movements-longer term - yes...intraday all you have to know is that when price moves up there are more buyers than sellers, and vice versa...think about demand and supply....not the reasons behind it (on an intraday basis)
ex member
  • #255,416
  • Sep 23, 2010 9:01am Sep 23, 2010 9:01am
There are two 4H candles(9.22. 12:00, and 9.23. 8:00) which are 100% bullish, the last one is even bigger, already create higher high...and we are above DP... keeping my longs with a stop at 1.56...
  • #255,417
  • Sep 23, 2010 9:01am Sep 23, 2010 9:01am
again,from 15685
  • #255,418
  • Sep 23, 2010 9:01am Sep 23, 2010 9:01am
Quoting chazzle
closing for 25 (0.25%)
Nice trade! Should have keep your other one in play... Although I know the feeling. Sometimes the nerves will get to ya.
  • #255,419
  • Sep 23, 2010 9:06am Sep 23, 2010 9:06am
Quoting chazzle
again,from 15685
what is your SL its looking like a ping pong game up down up down

Ub
  • #255,420
  • Sep 23, 2010 9:10am Sep 23, 2010 9:10am
Quoting bbmac
unless your edge is fundamentally based you don't have to and most of the time in short term movemnets - you won't, and you are not alone in that....also don't try mixing techs with fundies unless you are using techs for a timed entry into a fundie based trade. Fundamental analysis as an edge is not good for intraday price movements-longer term - yes...intraday all you have to know is that when price moves up there are more buyers than sellers, and vice versa...think about demand and supply....not the reasons behind it (on an intraday basis)
Well I must admit I do let fundies lean my bias and then play the techies for entry points. I suppose that looking at this mornings action I should view it that most of the market expected the news to disappoint and buyers were in the wings waiting for exactly that in order to get a better entry. Which is exactly what I do but not on this one. This would imply there is more buying strength in the market than I had given credit for. Does not bode well for the 2 shorts I got stuck with from fed news (thanks Alpari, just love those requotes!).
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