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Cable Update (GBPUSD)

  • #296,801
  • Jan 5, 2012 4:48am Jan 5, 2012 4:48am
The best advice is generally always top get with the money flow where you can. As for trying to assign fundie reasons to why price falls or rises, son't bother if you are a tech trader - there is no need - the market doesn't care what we think - just go with it - even if you don't understand why - all we as tech traders need to know is that there are more buyers than sellers or vice versa, and that trends develop and pullback - these are repeating phenomena from which an edge can be found.

Today Gbp seems to be dragged down by Euro weakness -vs- $, it's a risk off situation presently but that could change in an instant. Let PA be your guide, don't worry about why - just go with it.

Speaking of fundies - there really is no point trying to take intraday positions from a fundie/global macro analysis - these can take days/weeks/months top play out even if your general fundie analysis is right and there are manu bearish corrections in an overall bullish fundie environment and conversely there are many bullish rallys in an overall fundie bearish environment so intraday poistions are likely as not to get screwed. Only exception to this is certain plays if they develop re intraday data/news releases which in themselves are/can be a measure of the overall fundie/global macro view.

G/L
ex member
  • #296,802
  • Jan 5, 2012 4:48am Jan 5, 2012 4:48am
Quoting _BBKing_
ok true indeed i still have a small short running 5630.
matter is about the news release.
services pmi is a strong data and came out very good!
market waited that release to start heavier selloff.
sounds to me like a trick to hit stops!
cable could test 1.5513 and its important area ... 4 hour still under sell pressure be need to see how market act US News keep ur eyes open
  • #296,803
  • Jan 5, 2012 4:56am Jan 5, 2012 4:56am
Quoting bbmac
The best advice is generally always top get with the money flow where you can. As for trying to assign fundie reasons to why price falls or rises, son't bother if you are a tech trader - there is no need - the market doesn't care what we think - just go with it - even if you don't understand why - all we as tech traders need to know is that there are more buyers than sellers or vice versa, and that trends develop and pullback - these are repeating phenomena from which an edge can be found.

Today Gbp seems to be dragged down by Euro weakness -vs-...
ARE YOU SURE..?
  • #296,804
  • Jan 5, 2012 4:56am Jan 5, 2012 4:56am
Quoting bbmac
there are opportunities on the lower sub 1hr t/f's...but on daily there is a definate opa range.

G/L
  • #296,805
  • Jan 5, 2012 4:57am Jan 5, 2012 4:57am
Quoting Johnny Depp
ARE YOU SURE..?
best scalper i know by far..trust me it works for him
  • #296,806
  • Jan 5, 2012 4:57am Jan 5, 2012 4:57am
Quoting _BBKing_
lol
http://www.youtube.com/watch?v=Ki803...ure=plpp_video
Ha ha ha, I fully understand this, I broke my new flat mates couch with my foot over an issue with my Internet connection about 5 years back.
Come with me if you want to live....
  • #296,807
  • Jan 5, 2012 5:02am Jan 5, 2012 5:02am
Quoting nAVIN2007
best scalper i know by far..trust me it works for him
there is no such thing as ' trust me' in biznez... just a good biznez.....
  • #296,808
  • Jan 5, 2012 5:03am Jan 5, 2012 5:03am
Still does not look too convincing to me, looks like there will be some bulks and bears taken out today but not convinced this is our bear run.
Come with me if you want to live....
  • #296,809
  • Jan 5, 2012 5:08am Jan 5, 2012 5:08am
eu is told to be heavy fukked below 2830
lets see if it's true
90% of traders use TA, indicators and prediction
  • #296,810
  • Jan 5, 2012 5:09am Jan 5, 2012 5:09am
Quoting Johnny Depp
there is no such thing as ' trust me' in biznez... just a good biznez.....
yur right..but if u saw his trade statements u would agree
  • #296,811
  • Jan 5, 2012 5:15am Jan 5, 2012 5:15am
Quoting Ill-b-back
Still does not look too convincing to me, looks like there will be some bulks and bears taken out today but not convinced this is our bear run.

i will try and explain to u..what is happening..
hopefully yur aware of the indexes to gauge strength, well

usdlfx is gaining..could be just a retest of breakout point to down side or recovery??
so is gbplfx (climbing)..question is which will fall?? (gbp gaining very well, trend changing from short to long)

euro is finished in the sense theres no strength at all (first chart)..so we in a position which is like waiting for usd to fall of a cliff..or climb everest..otherwise cable will lose strength but wont drop like a stone cause its climbing

can oil and gold keep USD sitting??..IS THE QUESTION euro is looking very bad
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  • #296,812
  • Jan 5, 2012 5:17am Jan 5, 2012 5:17am
Someone asked me for this ADR Indicator, will it get there today?
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File Type: ex4 !SM_ADR Marker.ex4   12 KB | 280 downloads
It takes a lot for me to IGNORE you, but you can try.
  • #296,813
  • Jan 5, 2012 5:27am Jan 5, 2012 5:27am
I am a tech trader and this is now what I see. I think we will be in this zone for a little while. No break out either way today IMO.
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Come with me if you want to live....
  • #296,814
  • Jan 5, 2012 5:29am Jan 5, 2012 5:29am
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90% of traders use TA, indicators and prediction
  • #296,815
  • Jan 5, 2012 5:30am Jan 5, 2012 5:30am
comparing the rate of drop compared to the last one from a lower high, this tells me buyers are still around and we are in a shake out at the moment. My SL will be at 5460 when I go to bed.
Come with me if you want to live....
  • #296,816
  • Jan 5, 2012 5:33am Jan 5, 2012 5:33am
Quoting nAVIN2007
its not gbp its the euro..there looking to make a lot of money..notice when good news comes there news releases are very negative against euro..how can a recover happen when the news is so negative towards euro..

ooo but it will..its all staged

unless im on the wrong side oppseee
You are right, the Euro is the problem preventing the Pound from appreciating against the US$. However, in relative terms the Pound should do better than the Euro over the year based on economic fundamentals.

The reality is that UK is not doing economically very well since the credit crunch started in 2007. In terms of economic recovery, it is somewhere in between the USA and the mainland Europe. The tough austerity measures implemented by the conservative led coalition government has reduced economic activity and increased unemployment. The austerity measures have pleased the markets (for the time being at least!). It is fully understood that the way to get out of recession is to rectify the trade imbalances with Europe and Far East. For this, a competitive Pound is required amongst other things. The circa 20% devaluation against the US$ is helping the exports as it can be seen in the recent economic surveys and statistics.

This export led recovery of UK is at risk by the grave problems of the Eurozone. Euro area is the largest trading partner of UK in recent times. A serious devaluation of Euro against the Pound will make UK’s exports more expensive in Eurozone and make the imports from the Eurozone into UK that much cheaper. Obviously, the powers that be are very concerned about it and are very keen to avoid this getting out of hand (it is even quoted in papers that the military has been drafted in). The other problem for UK is that the Government does not want large capital inflows from the Eurozone into UK, which would make the Pound stronger. The capital inflows are visible even to the ordinary people as the property prices in London are still going up due to foreign buying despite the slowdown in economic activity and loss of thousands of jobs in the financial services industry. The same is not true for property prices outside London, where prices are falling.


Needless to say, it is going to be highly volatile than normal trading GU (until the Euro is sorted one way or the other) but hey it is going to be fun!. Due to this, my plan is to keep trades for not more than three days.

Best wishes
  • #296,817
  • Jan 5, 2012 5:39am Jan 5, 2012 5:39am
Quoting Rasi
You are right, the Euro is the problem preventing the Pound from appreciating against the US$. However, in relative terms the Pound should do better than the Euro over the year based on economic fundamentals.

The reality is that UK is not doing economically very well since the credit crunch started in 2007. In terms of economic recovery, it is somewhere in between the USA and the mainland Europe. The tough austerity measures implemented by the conservative led coalition government has reduced economic activity and increased unemployment. The...

thanks bro!!..i will save this post. lots of details to absorb
  • #296,818
  • Jan 5, 2012 5:44am Jan 5, 2012 5:44am
Quoting bguguen
Gold Rally's Over, let the new wave of risk-aversion begin, my target for GU short at 1.5620 would be the low at 1.5410 good luck all
EURUSD doing so well for me as well...
all you fellas needed to realise... monday was the big boys chance to fill some HUGE sell orders after New Years, when the market was illiquid now that they got those sell orders triggered, they can let the market go and let it drop, beautiful strategy... since everyone is getting back now... market is busy again... and the big boys made a killing today
Hey fellas, to me the GBPUSD has broken down this baby is gona fall to where i said it would 1.5410 is my target... sooo good luck, saw this coming monday and yesterday was some clear indication that big boys are just creating a fake risk-on sentiment (pushing eurusd , gbpusd, gold up, Selling the dollar) just to fill some new corporate orders after some serious book settling at the end of 2011
good luck all... will see what happens when 1.5410 reached... but if 1.5410 doesnt hold as a support this fella could drop to 1.5...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #296,819
  • Jan 5, 2012 5:47am Jan 5, 2012 5:47am
man this was a good week for me, glad i didn't trade, dont have my system in front of me so i can't tell you what could of been
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  • #296,820
  • Jan 5, 2012 5:52am Jan 5, 2012 5:52am
Quoting bguguen
Hey fellas, to me the GBPUSD has broken down this baby is gona fall to where i said it would 1.5410 is my target... sooo good luck, saw this coming monday and yesterday was some clear indication that big boys are just creating a fake risk-on sentiment (pushing eurusd , gbpusd, gold up, Selling the dollar) just to fill some new corporate orders after some serious book settling at the end of 2011
good luck all... will see what happens when 1.5410 reached... but if 1.5410 doesnt hold as a support this fella could drop to 1.5...
If u say so.....
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