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Cable Update (GBPUSD)

  • #285,761
  • Aug 5, 2011 12:32am Aug 5, 2011 12:32am
Quoting smikester
Morning everyone! Nasty stock market moves and NFP day. I'm looking forward to NFP figures. On a day like today this could lead to a long (and I mean in time, not direction) trade.
morning
you disappeared from thread! nice to see ya
90% of traders use TA, indicators and prediction
  • #285,762
  • Aug 5, 2011 12:42am Aug 5, 2011 12:42am
A febrile atmosphere/environment into which the U.s release the monthly employment numbers tomorrow (Friday 5th Au)..Nfp, un-emp rate etc...

In this environment a bad print could well see risk aversion grip the market - ( like it hasn't already lol!) and the opposite of what traditionally we might have expected in instruments such as gbpusd ?

Last month diaapointed re the headline figure of +18k and with weekly intial claims rising and soft surveys of late we could well see an increase in the current 9.2% un-emp rate with a headline low print ?

It's data - anything can happen...
Could be like throwing 'fuel on the fire?' 'The perfecct Storm ?'

Whatever - with volatility comes opportunity so you gotta love it.

Article here discussing NFP:

http://www.fxtimes.com/fundamental-u...labor-reports/


G/L
ex member
  • #285,763
  • Aug 5, 2011 12:46am Aug 5, 2011 12:46am
volatility is high, gonna be extra careful re trade opportunities today.

G/L
ex member
  • #285,764
  • Aug 5, 2011 12:56am Aug 5, 2011 12:56am
Quoting bbmac
volatility is high, gonna be extra careful re trade opportunities today.

G/L
i agree!
got 2 scalps for some fast pips.

after data release things will be better imho..
90% of traders use TA, indicators and prediction
  • #285,765
  • Aug 5, 2011 1:00am Aug 5, 2011 1:00am
a break above Daily Pivot 6314 area might ease some of the bearishness ?

G/L
ex member
  • #285,766
  • Aug 5, 2011 1:06am Aug 5, 2011 1:06am
upper and lower trend lines on 1hr contain price at the moment.

G/L
Attached Image
ex member
  • #285,767
  • Aug 5, 2011 1:07am Aug 5, 2011 1:07am
Quoting bbmac
a break above Daily Pivot 6314 area might ease some of the bearishness ?

G/L

I think so but 6294 is my major problem
Keep the Lights on then you can catch the rise from the dark.
  • #285,768
  • Edited 1:15am Aug 5, 2011 1:14am | Edited 1:15am
Quoting bbmac
a break above Daily Pivot 6314 area might ease some of the bearishness ?

G/L
i see a possible move near 6315 but also an extension untile 6345-50....
in h1 below better shown.

those prices are also daily pivot n strong sup/res
in this kind of pattern if price reaches there i will search for shorts.
imho won't go straight above without coming back

bear flag is dotted as im not sure of it..
Attached Image (click to enlarge)
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90% of traders use TA, indicators and prediction
  • #285,769
  • Aug 5, 2011 1:17am Aug 5, 2011 1:17am
Quoting ricmaj
I think so but 6294 is my major problem
so nice to see people in a photo!
welcome mate
90% of traders use TA, indicators and prediction
  • #285,770
  • Aug 5, 2011 1:18am Aug 5, 2011 1:18am
certainly the 1st upside obstacle isn't it..1hr descending t/line and 38.2% 6395-6228 with that previous 1hr swing lo/hi there.

G/L

Quoting ricmaj
I think so but 6294 is my major problem
ex member
  • #285,771
  • Aug 5, 2011 1:20am Aug 5, 2011 1:20am
Indeed, ...mine is below. People say I look a bit like ooh what's his name -Uncanny isn't it !

Quoting _BBKing_
so nice to see people in a photo!
welcome mate
Attached Image
ex member
  • #285,772
  • Aug 5, 2011 1:21am Aug 5, 2011 1:21am
I need a script to close multiple orders dont know is anyone can spare me
Keep the Lights on then you can catch the rise from the dark.
  • #285,773
  • Aug 5, 2011 1:23am Aug 5, 2011 1:23am
Quoting bbmac
Indeed, ...mine is below. People say I look a bit like ooh what's his name -Uncanny isn't it !
90% of traders use TA, indicators and prediction
  • #285,774
  • Aug 5, 2011 1:23am Aug 5, 2011 1:23am
Quoting ricmaj
I need a script to close multiple orders dont know is anyone can spare me
let me know if you find it!
i searched a lot about something similar.

i found one but doesnt work!
90% of traders use TA, indicators and prediction
  • #285,775
  • Aug 5, 2011 1:31am Aug 5, 2011 1:31am
sometimes analysts are right!

lolz
90% of traders use TA, indicators and prediction
  • #285,776
  • Aug 5, 2011 1:32am Aug 5, 2011 1:32am
well,
i have done my morning n need to leave.

i will come back near/after npf release

good luck guys n trade well
90% of traders use TA, indicators and prediction
  • #285,777
  • Aug 5, 2011 1:33am Aug 5, 2011 1:33am
Quoting _BBKing_
let me know if you find it!
i searched a lot about something similar.

i found one but doesnt work!

all I have came accross not working
Keep the Lights on then you can catch the rise from the dark.
  • #285,778
  • Aug 5, 2011 2:45am Aug 5, 2011 2:45am
Attached
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  • #285,779
  • Aug 5, 2011 4:49am Aug 5, 2011 4:49am
Right hand side number is the previous month, left hand side the forecast:
http://i56.tinypic.com/34sm0q1.jpg

Should volatility result from U.s NFP release (I favour a high number well above the forecast with an upside revision to last month, good +'ve no's in component private and manuf jobs and decrease in un-emp rate -or- a lo number well below the forecast with a downside revision to last month, bad -'ve no's in component private and manuf jobs and increase in un-emp rate) for greatest chance of a big reaction either way.

My tactic will be to 'follow the money.' I Will be flat going into the release and I will aim to do one, all or none of the following, should the 'right' set-up (s) result:

1. Buy/Sell a momentum b/o on the immediate release on close of a 1min 3min or 5min candle.
2. Sell the 1st hi-buy the 1st pullback lo -or- conversely - buy the 1st lo-sell the 1st pullback hi.

Will see what, if anything sets-up.


G/L
ex member
  • #285,780
  • Aug 5, 2011 5:08am Aug 5, 2011 5:08am
today's current hi finding supply at the underside of breeched 4hr ascending t/line

G/L
Attached Image (click to enlarge)
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ex member
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