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Cable Update (GBPUSD)

  • #256,641
  • Sep 28, 2010 8:53am Sep 28, 2010 8:53am
  •  samirb
  • | Joined Nov 2009 | Status: Investing is simple, but not easy. | 247 Posts
Quoting samirb
Good day everyone,

Closed longs at 15885. beause of broading top formation..
expecting retracement.. i will stay flat untill the pattern invalid or better entry to jump in..

Good luck

Good day everyone..

As expected.. everything is on the chart

Good luck
Attached Image (click to enlarge)
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  • #256,642
  • Sep 28, 2010 8:54am Sep 28, 2010 8:54am
I actually went short at 1.5850 because 6h and 4h did not close above 1.5850..+ 117 pips so far..i am going to close this one and see what daily candle tells me..happy pipin to all..
  • #256,643
  • Sep 28, 2010 8:54am Sep 28, 2010 8:54am
Quoting master4forex
http://cdn.benzinga.com/files/bear_market_0528.jpg
still happy dude???
I will be the number one Manager.
  • #256,644
  • Sep 28, 2010 8:54am Sep 28, 2010 8:54am
the dollar was screwed beyong any doubt..now its back within the trendline..still thou..he gonna have to do a lot better to finish me off

dollar retrace 50% area and fell..was an attempt to save it! ..(excuse my bs)
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  • #256,645
  • Sep 28, 2010 8:54am Sep 28, 2010 8:54am
Quoting cloggie
Posen single handedly changed the entire economic outlook of the UK in one sentence and most people here are entirely missing the significance instead harping on about a BOE statement from last week.

If you are clueless about fundamentals, don't go making it up as you go along please.
From BoE statement, last week.

29 On balance, most members thought that the current level of Bank Rate and stock of asset
purchases financed by the issuance of central bank reserves remained appropriate to balance the risks
to the inflation outlook in the medium term. But both key risks were substantial, and these members
stood ready to respond in either direction as the balance of risks evolved. For some of those members,
the probability that further action would become necessary to stimulate the economy and keep inflation
on track to hit the target in the medium term had increased.


But if you don't read 'em you a'int gonna know.
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  • #256,646
  • Sep 28, 2010 8:55am Sep 28, 2010 8:55am
Quoting Uphios
From BoE statement, last week.

29 On balance, most members thought that the current level of Bank Rate and stock of asset
purchases financed by the issuance of central bank reserves remained appropriate to balance the risks
to the inflation outlook in the medium term. But both key risks were substantial, and these members
stood ready to respond in either direction as the balance of risks evolved. For some of those members,
the probability that further action would become necessary to stimulate the economy and keep inflation
on...
As I said, you are in the clueless bunch.
  • #256,647
  • Sep 28, 2010 8:56am Sep 28, 2010 8:56am
Quoting cloggie
Posen single handedly changed the entire economic outlook of the UK in one sentence and most people here are entirely missing the significance instead harping on about a BOE statement from last week.

If you are clueless about fundamentals, don't go making it up as you go along please.
Yes you are right the difference one speech can make. However, do you think the 10 years of low growth is what he meant to say or just until inflation comes down?

sorry if you answered this already.
Our beliefs are based on logic and the pursuit of clearity.
  • #256,648
  • Sep 28, 2010 8:57am Sep 28, 2010 8:57am
Quoting cloggie
As I said, you are in the clueless bunch.
Whatever.
This space intentionally left blank.
  • #256,649
  • Sep 28, 2010 8:57am Sep 28, 2010 8:57am
Quoting javapips
still happy dude???
http://2.bp.blogspot.com/_uoQsu0vbWq...ear_boxing.jpg
  • #256,650
  • Sep 28, 2010 8:57am Sep 28, 2010 8:57am
btw what's going on?
I will be the number one Manager.
  • #256,651
  • Sep 28, 2010 8:58am Sep 28, 2010 8:58am
Quoting cloggie
In plain English, he is saying that the UK is screwed for the next 10 years and that every BOE estimate to date is wrong.
I am not an economist, but do you mean that
1. A Sentance (another central banker) is off the trolley?
2. The drive cutting the budget deficit is misguided or at least too early?

Thanks for your opinion.
  • #256,652
  • Sep 28, 2010 8:58am Sep 28, 2010 8:58am
Quoting nAVIN2007
the dollar was screwed beyong any doubt..now its back within the trendline..still thou..he gonna have to do a lot better to finish me off

dollar retrace 50% area and fell..was an attempt to save it! ..(excuse my bs)

love the triangles... heheh
  • #256,653
  • Sep 28, 2010 8:59am Sep 28, 2010 8:59am
Quoting Gbp/usd
However, do you think the 10 years of low growth is what he meant to say or just until inflation comes down?
.

That is what the market is trying to figure out right now. Posen changed every statement from the BOE in the last 3 years with one speech. This is not about further QE, this is about a member of the BOE publicly stating that none of the targets are going to be met and that the UK is destined to mirror Japan in its recovery process.

That is about as significant for the currency as the UK declaring war on the US.
  • #256,654
  • Sep 28, 2010 9:04am Sep 28, 2010 9:04am
Quoting cloggie
That is what the market is trying to figure out right now. Posen changed every statement from the BOE in the last 3 years with one speech. This is not about further QE, this is about a member of the BOE publicly stating that none of the targets are going to be met and that the UK is destined to mirror Japan in its recovery process.

That is about as significant for the currency as the UK declaring war on the US.

they just playing..watch cable fly!!
clearing both directions stop loss..clean sweep
  • #256,655
  • Sep 28, 2010 9:04am Sep 28, 2010 9:04am
bad US news
  • #256,656
  • Sep 28, 2010 9:04am Sep 28, 2010 9:04am
WPP held. cheeky long
  • #256,657
  • Sep 28, 2010 9:07am Sep 28, 2010 9:07am
Quoting cloggie
That is what the market is trying to figure out right now. Posen changed every statement from the BOE in the last 3 years with one speech. This is not about further QE, this is about a member of the BOE publicly stating that none of the targets are going to be met and that the UK is destined to mirror Japan in its recovery process.

That is about as significant for the currency as the UK declaring war on the US.
But for every dove on the Mpc , there is a hawk (sentance)....I think you are over-egging the longer term impact of this...we used to get it with blanchflower when on mpc...it is still just one member being this dovish publicly.

G/L
ex member
  • #256,658
  • Sep 28, 2010 9:07am Sep 28, 2010 9:07am
short 770 SL 815, very confident about this
  • #256,659
  • Sep 28, 2010 9:07am Sep 28, 2010 9:07am
Quoting nAVIN2007
they just playing..watch cable fly!!
clearing both directions stop loss..clean sweep

The BOE is severely divided, we have Sentance wanting to raise rates, we have Posen saying that the UK is not going to meet its inflation targets and is destined to become the Japan of Europe, I wonder who is really in charge over there. At least the FED is consistent in its minutes.
  • #256,660
  • Sep 28, 2010 9:09am Sep 28, 2010 9:09am
Quoting dag777
i try a small first buy at 1.5745, sl 1.5705, could be wrong

more luck then brains at this trade, could close at S1, huh
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