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Cable Update (GBPUSD)

  • #308,561
  • Apr 17, 2012 8:57am Apr 17, 2012 8:57am
Quoting TauTrader
Good day,

I really need input from the clever guys on the forum... why is it that trading takes place when our "closed" markets are in effect?

Who will be trading on a Saturday?

Let me hear your input.

Regards
Since most banks and hedge funds are closed on sat its irrelevant who trades on sat.
In trading, you have to be defensive and aggressive at the same time
  • #308,562
  • Apr 17, 2012 8:58am Apr 17, 2012 8:58am
Quoting lampuah
Hi there !?
can I have one ??
Good day to you,

Unfortunately sold out - you will have to PM Smikester..

Hehe

Regards
  • #308,563
  • Apr 17, 2012 8:59am Apr 17, 2012 8:59am
Quoting TauTrader
Good day,

I really need input from the clever guys on the forum... why is it that trading takes place when our "closed" markets are in effect?

Who will be trading on a Saturday?

Let me hear your input.

Regards
well, i'm not that clever mate, and i don't really know the answer.. but i think forex does move on weekend (due to businesses that might takes place on the weekend, thus contribute to movement in forex), the reason why we see the price stop is because of our broker is close on weekend.

some banks or financial infrastructure does have the privilege trading on the weekend, in fact on any day of the week since they have direct liquidity to the market..
  • #308,564
  • Apr 17, 2012 8:59am Apr 17, 2012 8:59am
Quoting Davit
Since most banks and hedge funds are closed on sat its irrelevant who trades on sat.
actually you're wrong... Banks BRANCHES are closed on saturdays.... that only limits the dealings between the Banks and the Retail customers.... but banks are still in the market playing between themselves....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #308,565
  • Apr 17, 2012 9:02am Apr 17, 2012 9:02am
Well well guess i was right again... 1.5960 held up well

this was from earlier today
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.1039.17-04-2012.gif Size: 19 KB

and this is now...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.1501.17-04-2012.gif Size: 19 KB
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #308,566
  • Apr 17, 2012 9:12am Apr 17, 2012 9:12am
Quoting lampuah
Hi there !?
can I have one ??
Yes, How many would you like? The price has gone up (rarity value)
Gone to a better place
  • #308,567
  • Apr 17, 2012 9:15am Apr 17, 2012 9:15am
Quoting TauTrader
Good day to you,

Let's go into discussion...

Answer this - who would trade currency during our "closed" market over week-ends?

Like on Saturdays?

Would love to hear input.

Regards
Contrary to popular opinion, the markets are open at the weekend. In fact I believe retail traders can trade with some brokers, Oanda being one.

Trading the "gap" is such a nonsense and dangerous as there are plenty of gaps which have not filled on my feed.

Anyway, It does me good to get away from the screen at weekends.
Gone to a better place
  • #308,568
  • Apr 17, 2012 9:15am Apr 17, 2012 9:15am
Quoting TauTrader
Good day,

I really need input from the clever guys on the forum... why is it that trading takes place when our "closed" markets are in effect?

Who will be trading on a Saturday?

Let me hear your input.

Regards
Quote
Only the big boys trade between themselves in Closed market, no retail is gona do anything...
big boys trade between themselves in closed market because when you have for instance an earthquake happening in Japan on a saturday for example... these big boys want in Longing the yen first so when Retail market opens they'll be 200+ pips in the green
Given the fact people Bought Yen after an earthquake because they believe the japanese economy can recover from that fukushima earthquake incident...

Quote
Since most banks and hedge funds are closed on sat its irrelevant who trades on sat.

Quote
well, i'm not that clever mate, and i don't really know the answer.. but i think forex does move on weekend (due to businesses that might takes place on the weekend, thus contribute to movement in forex), the reason why we see the price stop is because of our broker is close on weekend.

some banks or financial infrastructure does have the privilege trading on the weekend, in fact on any day of the week since they have direct liquidity to the market..

Good day,

Thank you for the opinion.

Next question - how can price be traded 100 pips higher over a week-end from market "Close" on Friday to return to the opening price on Sunday night as if nothing happened?

Your input appreciated

Regards
  • #308,569
  • Apr 17, 2012 9:24am Apr 17, 2012 9:24am
Quoting Davit
Charts don't speak about PA
EU is extremely weak and she is ready for prime fall and she will drug cable with her. With 80% correlation its unavoidable.
You got to be patient.I build a position.I break down my orders in 4 or more and continuously sell until all orders are in that way I get better numbers.
This may take few days but she will get there.Here is my chart anyway.
My 5950 order is already in 10 pips in profit Target 100 pips
forgot to add my SL's all placed beyond 6100 so no spike can touch.I know its overkill but I rather not think...
you can start buying too. it will revisit today high sooner or later
  • #308,570
  • Apr 17, 2012 9:25am Apr 17, 2012 9:25am
Quoting TauTrader
Good day,

Thank you for the opinion.

Next question - how can price be traded 100 pips higher over a week-end from market "Close" on Friday to return to the opening price on Sunday night as if nothing happened?

Your input appreciated

Regards
well the price only went up by that because the broker or the price feed of which the broker uses is offline for the weekend, mostly due to maintenance and stuff, so any movements over the weekend wont be recorded....
like i said only the Banks themselves would be trading between themselves so however i believe theres a 24/7 price feed of which banks trades themselves, its not available for the retail market clients like us... since its a price feed comprised of a collection of banks and the price feed is runned by the banks feeding off each other the prices... instead of feeding off the prices to a retail price feed....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #308,571
  • Apr 17, 2012 9:38am Apr 17, 2012 9:38am
Quoting bguguen
well the price only went up by that because the broker or the price feed of which the broker uses is offline for the weekend, mostly due to maintenance and stuff, so any movements over the weekend wont be recorded....
like i said only the Banks themselves would be trading between themselves so however i believe theres a 24/7 price feed of which banks trades themselves, its not available for the retail market clients like us... since its a price feed comprised of a collection of banks and the price feed is runned by the banks feeding off each other...
Thank you for the attempt.

Look at the below screenshots. A few pairs indicated a "thrust" during "closed" market to return and open for us retail traders as if nothing happened. Only to be driven to those levels with intent - no matter what.

Who will be doing this?

What is really going on?

Regards

TT
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  • #308,572
  • Apr 17, 2012 9:41am Apr 17, 2012 9:41am
Quoting TauTrader
Thank you for the attempt.

Look at the below screenshots. A few pairs indicated a "thrust" during "closed" market to return and open for us retail traders as if nothing happened. Only to be driven to those levels with intent - no matter what.

Who will be doing this?

What is really going on?

Regards

TT
Oh i thought you were talking about gaps... Those thrusts are often called Fat Fingers... Reason is.... because Big Banks are manipulating the market by a group of automated systems....
now when a manual trader in the banks places a really really hefty lot order that somewhat attracts the robots attentions since the banks robots are programmed to hunt for these big orders but they dont know it was one of their traders....
so its often a human error...
Another reason would be the price feed had some sort of error on their side....

But then that happening on a closed market?? still makes me feel like its banks dealing with one another... because when banks deal with one another...
Bank A: i want to buy EURUSD at 1.5900 for example then Bank B will push to open the order at 1.5900 and as soon as the order is placed... back to 1.5850 it goes....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #308,573
  • Apr 17, 2012 9:57am Apr 17, 2012 9:57am
Quoting Fudomyo
.... you made my day.

Good day to you, Sir

Splendid to see you popping in...

All success

Regards
  • #308,574
  • Apr 17, 2012 10:06am Apr 17, 2012 10:06am
Quoting bguguen
Oh i thought you were talking about gaps... Those thrusts are often called Fat Fingers... Reason is.... because Big Banks are manipulating the market by a group of automated systems....
now when a manual trader in the banks places a really really hefty lot order that somewhat attracts the robots attentions since the banks robots are programmed to hunt for these big orders but they dont know it was one of their traders....
so its often a human error...
Another reason would be the price feed had some sort of error on their side....

But then that...
Good day to you,

Shows you - so many hurdles to cross - we can thus agree that the market is manupulated?

So - big final question...

How valid is TA / fundamentals in the shorter term?

What chance do I as a half educated trader stand? I have watched this "spiking" take place for the past 2 years - at times, price will move 900 to 1200 pips against the spike over week-ends on Xe.com - but 95% of the time - it goes there.

I guess the 5% that it does not, the trade was placed by a junior apprentice that was fired straight after the Fat Finger F*ckup...

Hehe - stay strong boet

Regards
  • #308,575
  • Apr 17, 2012 10:09am Apr 17, 2012 10:09am
@ 108% of it's 20 day atra supply came in @ Daily R2 confluence with top of previous 1hr swing lo zone and bottom of previous Daily swing hi zone (that extends up to 5983) capping the recent 5807-5983 range on 4hr.

Nice rejection candles x 3 developed there on 1hr as below.

Price indeed dropped from there creating a new minor 4hr/1hr swinng hi zone just below the one leading up to 5983 that co-exists as a previous Daily swing hi as decsribed above. Subsequently it has found some frresh 'buy the dip' demand at the 50% of the current daily lo-hi shown as point a-b on 1hr screenshot below.

G/L
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ex member
  • #308,576
  • Apr 17, 2012 10:13am Apr 17, 2012 10:13am
Quoting TauTrader
Good day to you,

Shows you - so many hurdles to cross - we can thus agree that the market is manupulated?

So - big final question...

How valid is TA / fundamentals in the shorter term?

What chance do I as a half educated trader stand? I have watched this "spiking" take place for the past 2 years - at times, price will move 900 to 1200 pips against the spike over week-ends on Xe.com - but 95% of the time - it goes there.

I guess the 5% that it does not, the trade was placed by a junior apprentice that was fired straight after...
I have always said the market is manipulated... thats why i said dont trade against and dont fall into the trap of big boys....

Trap... Oh well we are in one right now... people got to understand the reaosn why EURUSD, GBPUSD rose up yesterday was purely on repatriation flow... Europe and UK withdrawing their overseas investment back to their own currency.... this is bad news to say the least... reminded me of how EURO went into trouble the first time, they pulled whatever cash they had from abroad and they have suffered since simply because they dont invest enough anymore....

Long term fundamentally EURUSD, GBPUSD all down.... AUDUSD hmmm not quite sure but if China keeps falling in growth Aussie's gona suffer so im predicting AUDUSD 0.95 by year end
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #308,577
  • Apr 17, 2012 10:14am Apr 17, 2012 10:14am
Quoting bbmac
@ 108% of it's 20 day atra supply came in @ Daily R2 confluence with top of previous 1hr swing lo zone and bottom of previous Daily swing hi zone (that extends up to 5983) capping the recent 5807-5983 range on 4hr.

Nice rejection candles x 3 developed there on 1hr as below.

Price indeed dropped from there creating a new minor 4hr/1hr swinng hi zone just below the one leading up to 5983 that co-exists as a previous Daily swing hi as decsribed above. Subsequently it has found some frresh 'buy the dip' demand at the 50% of the current daily lo-hi...
Good day to you,

I swear - one day - I will grasp your analysis...

It's my life's mission...

Just kidding. Thank you for always posting a very detailed set of numbers. I do not believe all of our fellow traders see the value that you bring to the thread.

I imagine that it takes a lot of your precious time. So - thank you BBMac.

I, for one, appreciate your efforts.

Thanks again!

Regards
  • #308,578
  • Apr 17, 2012 10:14am Apr 17, 2012 10:14am
Quoting Fudomyo
Good to see you too Tau.

I'm sorry to hear of your wife's loss.

As hard as it is to go through times like this, we are so much richer for having had people we truly love in our lives.

My best to both of you.
Oh dear what happened to my good friend tau??
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #308,579
  • Apr 17, 2012 10:16am Apr 17, 2012 10:16am
I read a lot these tales of so-called market manipulation. I can tell you it's nonsense. Yes there are HFT's, automated HFT's. algorithm's, big players etc but in a worldwide interbak market it would be virtually impossible to ' manipulate ' price. Providing liquidity and placing big orders is not maniulation. Price is a function of supply and demand howsoever derived - that's it ! There is nothing else. It is very possible to gain a technically derived edge in this market, and specifically as this is the cable thread on gbpusd cash instrument. Most that try will though unfortunately lose in the longer term but this is not beacuse the market is 'manipulated' it is for a whole variety of other reasons, like they don't have an edge, understand what one is or enough about it,, or understand risk and it's relationship to that edge and how it is has to be controlled. They may never master the necessary psychological barriers that can stand in the way of their ability to close the 'profit gap.' Ie the difference between having a proven trading edge and actually making a profit from it themselves.

You can either blame things on manipulation or get around to truly understanding what is required to succeed.
ex member
  • #308,580
  • Apr 17, 2012 10:16am Apr 17, 2012 10:16am
Quoting Fudomyo
Good to see you too Tau.

I'm sorry to hear of your wife's loss.

As hard as it is to go through times like this, we are so much richer for having had people we truly love in our lives.

My best to both of you.
Good day to you, Fudo

Always such a gentleman,

You do not know how much your words mean to me. Seriously...

I take it without reservation and will share it with my lovely wife.

I thank you

Regards
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