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Cable Update (GBPUSD)

  • #278,861
  • May 11, 2011 4:52am May 11, 2011 4:52am
RSI almost 75 might go down no? going short?? hmmmm
  • #278,862
  • May 11, 2011 4:53am May 11, 2011 4:53am
Quoting Gambler180
Does anyone know the fundamental reason for the increase in value of the GBP. Trade balance was worse than expected and Mervyn King said in the inflation report that he expects CPI to fall = no rate hike. So why did the GBP rise?

cause my brother..fundamentals come after not b4 technicals and your not a fundamentalist yur a techical trader..dont ignore the bulish trend and bullish signals on a bogus news event which cant cancel all the signs..

this is zero sum game..the bums need to get of the bus
  • #278,863
  • May 11, 2011 4:54am May 11, 2011 4:54am
Nice run up...price testing the weekly pivot / 100sma on 4hr (200sma - 1hr just above)...above here unbreeched fibs of the main swing hi's down from and including 6746 to 6269 not shown on 4hr near-term screenshot below.

Uk Boe Inflation report press conf ongoing, market see-ing a hawkish tone to it ?

G/L
Attached Image (click to enlarge)
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ex member
  • #278,864
  • May 11, 2011 4:56am May 11, 2011 4:56am
i anyone sselling?? i may go in now
  • #278,865
  • May 11, 2011 5:01am May 11, 2011 5:01am
gone short now

any TP I should aim for? 1.641 R1?

or all the way down 1.6385?
  • #278,866
  • May 11, 2011 5:03am May 11, 2011 5:03am
Quoting nAVIN2007
cause my brother..fundamentals come after not b4 technicals and your not a fundamentalist yur a techical trader..dont ignore the bulish trend and bullish signals on a bogus news event which cant cancel all the signs..

this is zero sum game..the bums need to get of the bus
Could it be because the U.S. trade balance is expected to be even worse?
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #278,867
  • May 11, 2011 5:05am May 11, 2011 5:05am
Quoting nAVIN2007
aint sure about that..i just doesnt get any more solid than this..


diverence gave me strength , the mofo almost bus meh up
Now that you mention it, I realize this up move can be risky, news printed out worse and other pairs are still ranging means this bloody 80-90 pips up move is pretty much a bull trap. I have closed all my LONG not waiting for this boy to play a pullback or reversal then watching how far he can goes up. If still stuck around 6488 then scalping bear will be next in line till NY and USD news.
  • #278,868
  • May 11, 2011 5:06am May 11, 2011 5:06am
Originally Posted by Gambler180
Does anyone know the fundamental reason for the increase in value of the GBP. Trade balance was worse than expected and Mervyn King said in the inflation report that he expects CPI to fall = no rate hike. So why did the GBP rise?

Quoting nAVIN2007
cause my brother..fundamentals come after not b4 technicals and your not a fundamentalist yur a techical trader..dont ignore the bulish trend and bullish signals on a bogus news event which cant cancel all the signs..

this is zero sum game..the bums need to get of the bus
if I interpret His message : he expect CPI to fall = His Expectation . if Not He is forced to increase interest rate = which mean Interest rate hike this year
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  • #278,869
  • May 11, 2011 5:07am May 11, 2011 5:07am
Quoting _BBKing_
now im sure guys.
market moves before news.
news are done to confuse people.
we must feel market moves.

in my opinion , momentum sometimes starts before the news , sometimes ... then , in some cases momentum continuous to increase with the news , in other cases , just simply goes concolide , because the momentum has began and ended already.. and in some other cases , just simply reacts some. start watching the charts before the news , the movement behaviours , i think it is a good way to decide..

good trades for all.
the best indicator is trader's knowledge , experience and dicipline.
  • #278,870
  • May 11, 2011 5:11am May 11, 2011 5:11am
Move up looks technically more solid than a bull trap ? It is though, on the surface anyway, a strangely bullish reaction to the Uk Boe inflation report given that it appears broadly neutral...nothing standing out in press conference either (so far) which is still ongoing.


Current 1hr near-term screenshot below.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 118 KB
ex member
  • #278,871
  • May 11, 2011 5:12am May 11, 2011 5:12am
Quoting josef
Hello.

Long at 6375.
Target resistance level 6420

Josef

Big Thank You & you are great


Wish you best day trade
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #278,872
  • May 11, 2011 5:18am May 11, 2011 5:18am
Quoting Mrleeforex
Originally Posted by Gambler180
Does anyone know the fundamental reason for the increase in value of the GBP. Trade balance was worse than expected and Mervyn King said in the inflation report that he expects CPI to fall = no rate hike. So why did the GBP rise?



if I interpret His message : he expect CPI to fall = His Expectation . if Not He is forced to increase interest rate = which mean Interest rate hike this year

i really have no idea, it may surpise people but i dont look at news at all..my entery is always of the largest time frame otherwise ill be forced to look at news

Quoting Gambler180
Could it be because the U.S. trade balance is expected to be even worse?
no man it is because technicals all the signs were there:-

monthly offically broke out of the downtrend movements
dailly bullish pin 2 days back
weekly channel bottom was reached and bounced as expected
4hr falling wedge..breakout and retest, supported by bullish diverence

what more u want..there is no coulda, shoulda wanna..only what is..
  • #278,873
  • May 11, 2011 5:18am May 11, 2011 5:18am
It would seem, at least from the comment I have read so far, that merv's comments re increasing commodity/fuel prices could push inflation to over 5% this year, is the prime reason for bullish market reaction ?

G/L
ex member
  • #278,874
  • May 11, 2011 5:19am May 11, 2011 5:19am
Mervyn King said BOE has to raise interest rate to survive . but he can't indicate which month. I smell Bullish
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  • #278,875
  • May 11, 2011 5:22am May 11, 2011 5:22am
I hope US will launch a small coala bear
  • #278,876
  • May 11, 2011 5:22am May 11, 2011 5:22am
Quoting Mrleeforex
Mervyn King said BOE has to raise interest rate to survive . but he can't indicate which month. I smell Bullish
How far into the speech? I have only listened to about half of the speech.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #278,877
  • May 11, 2011 5:23am May 11, 2011 5:23am

i was moving stops n targets i closed the position by a mistake
90% of traders use TA, indicators and prediction
  • #278,878
  • May 11, 2011 5:26am May 11, 2011 5:26am
Quoting Gambler180
How far into the speech? I have only listened to about half of the speech.
I'm watching it right now. it's press conference questioning time.

http://streamstudio.world-television...lash-video-300

This is the link.
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  • #278,879
  • May 11, 2011 5:27am May 11, 2011 5:27am
Quoting _BBKing_

i was moving stops n targets i closed the position by a mistake
dont be sad u made profit..focus on the positive
  • #278,880
  • May 11, 2011 5:30am May 11, 2011 5:30am
hi i have short opened @ 6470 tp @ 6450. today long trade closed @ 6403. Its a second trade. lets see
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