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Cable Update (GBPUSD)

  • #292,681
  • Nov 16, 2011 4:04am Nov 16, 2011 4:04am
residual demand toward the lows then - well we know where the most obvious immediate demand and supply is !

G/L
ex member
  • #292,682
  • Nov 16, 2011 4:04am Nov 16, 2011 4:04am
Quoting bbmac
rejection candles don't get much better than this 1min in immediate post data.

Uk Boe Qtrly inflation report and press conference due at 1030am gmt...likely a downgrading to Gdp forecast ?..will they signal more Qe is on the cards ? if so may be dovish in tone and therefore pout downside pressure on the £

anything can happen (or nothing)

G/L
I agree bbmac. I am closely tracking cable as there is the most interesting option in currencies this morning (not many people seems to be interested...). Numbers were a mix bag with highest unemployment since 1996 but the unemployment claims (future number) was good. Inflation was a bit lower 5.0% ystday but still high.

BOE is key today and I am also expecting dovish comments with more QE on the table. 1.571x is wide open for today but a dovish BOE will open 1.553x and a 3rd test of the key 1.530x for the next weeks.

BOE hasn't been shy at all with QE and given the current climate and negative GDP growth around the corner I expect to keep the same line... We'll see

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #292,683
  • Nov 16, 2011 4:10am Nov 16, 2011 4:10am
Quoting smikester
Mervyn King reckons (or should I say Sir Mervyn King) that inflation will fall sharply.
Quoting bbmac
How strong are the bulls ahead of the Uk data and Merv the Swerv ?

caution you both could be 'condemned...



Attached Image
  • #292,684
  • Nov 16, 2011 4:11am Nov 16, 2011 4:11am
That certainly remains the greater probability scenario atm- like you see will see how it plays out after the 1030am Boe stuff...all eyes on Merv etc now at 1030am onwards.

Intraday mixed now atm.

G/L

Quoting sisse
....BOE is key today and I am also expecting dovish comments with more QE on the table. 1.571x is wide open for today but a dovish BOE will open 1.553x and a 3rd test of the key 1.530x for the next weeks. .....BOE hasn't been shy at all with QE and given the current climate and negative GDP growth around the corner I expect to keep the same line... We'll see ....sisse
ex member
  • #292,685
  • Nov 16, 2011 4:13am Nov 16, 2011 4:13am
Yeh Sir Sean there - another class/cause traitor - a member of the SNP (scottish nationalists wanting independance from UK) 1st sign of a title from the english and he's down on one knee - Lol...amazing !

Quoting gsantri
caution you both could be 'condemned...



ex member
  • #292,686
  • Nov 16, 2011 4:19am Nov 16, 2011 4:19am
stopped out @BE on GU short
now i wait gov.King speakings. lolz maybe won't tell anywthing at all.
still holding EU short but not adding yet
90% of traders use TA, indicators and prediction
  • #292,687
  • Edited 4:46am Nov 16, 2011 4:30am | Edited 4:46am
they're selling £ and he hasn't sat down yet Lol
ex member
  • #292,688
  • Nov 16, 2011 4:45am Nov 16, 2011 4:45am
long@5762 sl@5740
Trader from Croatia
  • #292,689
  • Nov 16, 2011 4:46am Nov 16, 2011 4:46am
Finishing here for session....5745 current daily lo, @/below here:

5753 85.4% 5681-6165
5718 50% 5270-6165
5713 Daily S2
5708 85.4% 5629-5165
5704-5681 prev 4hr sw lo zone incl 5689 = 76.4% 5541-6165

5660-5629 prev daily/4hr sw lo zone and prev dly sw hi zone incl 5657 = Weekly S3 @/around, 5632 = 85.4% 5541-6165, 5631 = Daily S3 @/around

5613 61.8% 5270-6165
5554-5541 prev daily/4hr sw lo zone
5504-5490 prev 4hr sw hi zone incl 5501 = Monthly S1 @/around
5481 76.4% 5270-6165
5386 85.4% 5270-6165
5336-5319-5270 prev weekly/daily/4hr swing lo zone
5194 61.8% 4225-6746

G/L
ex member
  • #292,690
  • Nov 16, 2011 4:46am Nov 16, 2011 4:46am
Quoting Geppy
Wouldn't touch shorts in either pair right now. Waiting for 1.3650 in Eur/Usd to see how that reacts and 1.5900 in Sterling.
those are very possible re-test area but trend is very strong down in both gu n eu.
i have your same feeling but opposite direction

i won't buy them until i see test near 1.33 or at least in 1.34 area for EU and test of 56 area or atleat 5700 for gu.
talking about this week
90% of traders use TA, indicators and prediction
  • #292,691
  • Nov 16, 2011 4:54am Nov 16, 2011 4:54am
Quoting Geene
long@5762 sl@5740
close..@5777
Trader from Croatia
  • #292,692
  • Nov 16, 2011 5:12am Nov 16, 2011 5:12am
Quoting Geene
close..@5777
90% of traders use TA, indicators and prediction
  • #292,693
  • Nov 16, 2011 5:35am Nov 16, 2011 5:35am
Gu update
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  • #292,694
  • Nov 16, 2011 6:06am Nov 16, 2011 6:06am
Quoting mloistianto
Hi I see, u are bullish in this pair.. But could u give us any hint why?

Yesterday we got a breakout from range. we are painting new lows after few days..

Thanks
Good day to you,

My apology - was out..

The bias comes from the daily chart. I have a trend-type line which price have touched 7 times - either from top or from bottom. I saw this as significant.

I was looking at a bounce here in correlation to my SSA still pointing up.

I will however have to consider cutting the trade if this trendline fails. Then the bullishness will be down the drain with a couple of dollars too.

Have to admit it's marginal at this point - downward pressure...

A bounce could see us head back - this is what I am after.

Hope this gives you some reasoning.

All the best!

Regards
Attached Image (click to enlarge)
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  • #292,695
  • Nov 16, 2011 7:01am Nov 16, 2011 7:01am
long @5811 sl @5790
Trader from Croatia
  • #292,696
  • Nov 16, 2011 7:03am Nov 16, 2011 7:03am
Quoting Geene
long @5811 sl @5790
seems like nowadays its a trend to buy at resistance.. hmmm
  • #292,697
  • Nov 16, 2011 7:06am Nov 16, 2011 7:06am
Quoting geene
long @5811 sl @5790
+ @5806
+ @5802

sl @5784
Trader from Croatia
  • #292,698
  • Nov 16, 2011 7:09am Nov 16, 2011 7:09am
Quoting Geene
+ @5806
+ @5802

sl @5784
i think you should use your PO at about 5780 if you gonna buy cable, that will make some sense. just my 2 cents.
  • #292,699
  • Nov 16, 2011 7:12am Nov 16, 2011 7:12am
Quoting A-speculator
i think you should use your PO at about 5780 if you gonna buy cable, that will make some sense. just my 2 cents.
which is the top of 1h hammer, and please also include some pics or elaborate a bit regarding why you make that entry. if not, you're making no sense (or nonsense if i may say..) sorry bro..
  • #292,700
  • Nov 16, 2011 7:40am Nov 16, 2011 7:40am
Quoting Geene
+ @5806
+ @5802

sl @5784
I'm still here..sl heading south
Trader from Croatia
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