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Cable Update (GBPUSD)

  • #274,601
  • Mar 23, 2011 6:36am Mar 23, 2011 6:36am
Quoting Orbital
Im listening to osbourne speak for 40 minutes havent heard him make any cuts so far....

Quite a comprehensive Econom stimulus package
That's why! i don't understand with the sudden drop.. anyway it's not my battle today..
  • #274,602
  • Mar 23, 2011 6:37am Mar 23, 2011 6:37am
Quoting SerpentDove
I left a bloody fortune on the table

Oh well, at least I can focus my eyes again. 70pips all in ain't so bad

Small long at 1.6222
we just pierced the 1.6228 level which is the ichi bottom.we might see another drop soon
  • #274,603
  • Edited 7:03am Mar 23, 2011 6:40am | Edited 7:03am
I still find it quite hard to interpret these news reports like the UK budget and what it will do exactly with the GBP.
  • #274,604
  • Mar 23, 2011 7:11am Mar 23, 2011 7:11am
Quoting Mautje
I still find it quite hard to interpret these news reports like the UK budget and what it will do exactly with the GBP.
Price goes up, price comes down...

Though there might be a little insight and reaction to news items, you can always find a play on techs.

Not saying that the news is not important, but trying to gauge how the money will move on them isn't the easiest thing to do.

Price goes up, be a buyer.
Price goes down, be a seller.

When in doubt...sit it out!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #274,605
  • Mar 23, 2011 7:12am Mar 23, 2011 7:12am
Quoting SerpentDove
I left a bloody fortune on the table

Oh well, at least I can focus my eyes again. 70pips all in ain't so bad

Small long at 1.6222
Out at 1.6245, I obviously have issues with holding trades today for some reason.
  • #274,606
  • Mar 23, 2011 7:14am Mar 23, 2011 7:14am
Quoting SerpentDove
Out at 1.6245, I obviously have issues with holding trades today for some reason.
6260 is the first line of resistance...maybe a touch above...

Nothing wrong with taking profit my friend....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #274,607
  • Mar 23, 2011 7:24am Mar 23, 2011 7:24am
Quoting Magix
6260 is the first line of resistance...maybe a touch above...

Nothing wrong with taking profit my friend....
You're right, I'm just a little frazzled because my last two sets of trades I closed out the first set nearly 200 pips early and the second about 100.

I know, I know, "shut up you stupid crybaby", no one has to say it. I'm taking the rest of the day off. Good luck guys

If shorting from these levels... careful this 'possible' rising trendline on the h4 doesn't develop.
Attached Image (click to enlarge)
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  • #274,608
  • Mar 23, 2011 7:40am Mar 23, 2011 7:40am
Quoting Magix
6260 is the first line of resistance...maybe a touch above...

Nothing wrong with taking profit my friend....

i thought you are new comers...your avatar is too cute for an old man just like you..,pick the 'dangers' one..,rambo, or something 'Killer'...
I will be the number one Manager.
  • #274,609
  • Mar 23, 2011 8:12am Mar 23, 2011 8:12am
1.63100, 1.63200 Possibel target
  • #274,610
  • Mar 23, 2011 10:05am Mar 23, 2011 10:05am
I'm long 1.6261 and now a little scared of my decision
  • #274,611
  • Mar 23, 2011 10:18am Mar 23, 2011 10:18am
Hello,

Anybody Where to download the free dollar index chart?


Thanks Before
  • #274,612
  • Mar 23, 2011 10:28am Mar 23, 2011 10:28am
Quoting J.Giordano
Hello,

Anybody Where to download the free dollar index chart?


Thanks Before
Try this, I needed this recently and got MT4 from them with a demo account it has the dollar index and eur index on it as charts.

http://www.fxservice.com/
  • #274,613
  • Mar 23, 2011 10:44am Mar 23, 2011 10:44am
Quoting javapips
i thought you are new comers...your avatar is too cute for an old man just like you..,pick the 'dangers' one..,rambo, or something 'Killer'...
Havn't you ever met Magix cute side? ...i imagine hes cute on all angles...though i'm wondering what the S represents.....
All systems of divination, like music itself,work through patterns.
  • #274,614
  • Mar 23, 2011 11:09am Mar 23, 2011 11:09am
Quoting Orbital
Haha, well its interessting to observe how exactly theyre shaping the budget. The statements on Oil on green energy are particularly interesting.
Also the decrease in corporate tax is interesting.

I admire what they are doing to be honest its a SMART and COMPREHENSIVE stimulus package unlike what happened in the US. Watching the Pound react right now to the news and trading futures instead.

But thanks

EDIT: Also the package will increase UK manufacturing which is good, GDP forecast is looking good but will still drop, this should influence...
Thanks Orbital ,you bring quality wherever you go.The only problem i have is in keeping up with you........
All systems of divination, like music itself,work through patterns.
  • #274,615
  • Mar 23, 2011 11:13am Mar 23, 2011 11:13am
Quoting Orbital
EDIT: Also the package will increase UK manufacturing which is good, GDP forecast is looking good but will still drop, this should influence Interest rates decisions. Many clues in that speech if you pay attention.

EDIT2: Also the Gold comment and the currency reserve comments was interessting
August at the earliest for an interest rate increase is my best bet, maybe 50 basis points. Quality gold reserve pop at Labour from George and so they are gonna sell GBP and buy other currencies.

"But this is an opportunity for me to report that we had already decided to rebuild the UK’s foreign currency reserves, which are at a historically low level.

We will purchase a range of high-quality assets – though unfortunately, with the price of gold now at record highs, we will not be able to replenish the gold reserves sold at record lows."

Sauce: http://www.telegraph.co.uk/finance/b...2011-live.html,
  • #274,616
  • Mar 23, 2011 11:37am Mar 23, 2011 11:37am
Quoting bbakker
August at the earliest for an interest rate increase is my best bet, maybe 50 basis points. Quality gold reserve pop at Labour from George and so they are gonna sell GBP and buy other currencies.



Sauce: http://www.telegraph.co.uk/finance/b...2011-live.html,



That'd be the one in the blue bottle? Thanks for putting it on the table.
All systems of divination, like music itself,work through patterns.
  • #274,617
  • Mar 23, 2011 1:14pm Mar 23, 2011 1:14pm
Quoting ndsouz
20,000USD easy money today
Compliment! It was a very great day for you...
Cheers
  • #274,618
  • Mar 23, 2011 3:19pm Mar 23, 2011 3:19pm
hello all

i was looking now on charts.
i see a possible buy level here in 6240

looks like reacting to main 38% and anyway closing above previous peaks from lows and trendine/fibochannel

can today's boe statement push it down further?
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90% of traders use TA, indicators and prediction
  • #274,619
  • Mar 23, 2011 10:26pm Mar 23, 2011 10:26pm
there's no buy
  • #274,620
  • Mar 23, 2011 11:59pm Mar 23, 2011 11:59pm
2 more hours til uk retail
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