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Cable Update (GBPUSD)

  • #328,361
  • Oct 26, 2012 1:02am Oct 26, 2012 1:02am
GBP down
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  • #328,362
  • Oct 26, 2012 1:18am Oct 26, 2012 1:18am
Quoting Locker
GBP down
For me still neutral looking arround 1.6090 for an entry, what are your views
Loosening is not an option
  • #328,363
  • Oct 26, 2012 1:26am Oct 26, 2012 1:26am
GM friend traders!

any clues where v are heading ???
Learning Requires Failure
  • #328,364
  • Oct 26, 2012 1:40am Oct 26, 2012 1:40am
Any views on Today US GDP data.. I thought It will be better then expected as the election date is nearby
experts ; what you say ??
  • #328,365
  • Oct 26, 2012 1:42am Oct 26, 2012 1:42am
Dollar index, 20mins before London open.
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To Your Success!!
  • #328,366
  • Oct 26, 2012 1:44am Oct 26, 2012 1:44am
Quoting fxtyrant
I SAY EU UP AND GBP DOWN... WHY?? i think i posted a chart about how EURGBP is about to meet Support??

you be the judge... if that Blue EMA acts well as a support.. we can see EURGBP back up to that RED EMA 200
Attachment
Yes, I think today its going to be like that. I bought EU just now. TP 1.298x
To Your Success!!
  • #328,367
  • Oct 26, 2012 1:48am Oct 26, 2012 1:48am
Quoting fxtyrant
Oh so ur gona be part of the meetup guys?? Im gona be there
Don't know place or time as yet, so hopefully someone will give me a heads up!

Still short from 1.6139 hoping that Frankie are faking it north and London will take it in the opposite direction. Not much news today apart from US GDP.

Have a good trading day!
  • #328,368
  • Oct 26, 2012 2:22am Oct 26, 2012 2:22am
Quoting smikester
Hiya Fudomyo. I wondered who might pick up... Looks like the BOJ may have to do an SNB? I'd appreciate your thoughts on this.
Hey Mike,

I don't see them doing a peg. Probably some more asset buying. There's a lot of resistance from Abe's party against any major spending increases, so Noda is limited with what he can do.

The bigger issue is, Japan's between a rock and a hard place with needing a strong yen to maintain the debt (a single basis point increase on interest would bankrupt the government). Also any major weakening like what happened in the 90's would create a regional debt crisis, so they need to proceed carefully. (China and Korea would go into serious recession if it happened) But the problem is Japan's going to run out of domestic funds to buy debt by 2015 so a broader weakening is probably unavoidable.

I think (logically) it should go to 90-95 2013, and potentially 120 by 2014. Of course if anything goes really wrong with the global economy it will strengthen considerably, so I'm still short the Yen from 2009 for now. (my exit is 83USD).

If they can weaken gradually on a 5 year timetable it would be the best net result, but as far as plans of mice and men go, we'll have to see.
  • #328,369
  • Oct 26, 2012 2:41am Oct 26, 2012 2:41am
Quoting Fudomyo
Hey Mike,

I don't see them doing a peg. Probably some more asset buying. There's a lot of resistance from Abe's party against any major spending increases, so Noda is limited with what he can do.

The bigger issue is, Japan's between a rock and a hard place with needing a strong yen to maintain the debt (a single basis point increase on interest would bankrupt the government). Also any major weakening like what happened in the 90's would create a regional debt crisis, so they need to proceed carefully. (China and Korea would go into serious...
Nice Insight! You Short USDJPY or long? You holding your trade since 2009?
  • #328,370
  • Edited 3:27am Oct 26, 2012 3:12am | Edited 3:27am
Short again at 1.6126. They nearly had my SL last night, but still there.

If we can clear 1.6110, then expecting first resistance at 1.6065 (previous r, and fibs), and tough progression to the figure. 1.5980 to 1.5940 had little traffic on the way up in September or recently, so that'll be the payoff, with 1.5940 my TP1.

However, if we get that far, of course, 1.58 is in play.

If we clear 110...


P.S. Sorry for the uninspiring charts - my software doesn't allow for anything fancy. Nor does my hardware, come to that.

I consider most indicators to be the product of deranged minds, of use only because we are working in an asylum, so I tend not to use them much.

Good luck all shorts - for those who are long, I wish you luck too, but in a little while.
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  • #328,371
  • Oct 26, 2012 3:12am Oct 26, 2012 3:12am
Quoting Snooze
Nice Insight! You Short USDJPY or long? You holding your trade since 2009?
yeah
  • #328,372
  • Edited 3:47am Oct 26, 2012 3:27am | Edited 3:47am
Good Afternoon

I am a new user to forex factory. However i have been reading this thread for abt a month now. I have learnt valuable insights on how the markets works. Thanks for all your constructive arguments. I have only started learning FX for abt 3 months now. Really wish to learn lot more from the pros out here.

Paley
  • #328,373
  • Oct 26, 2012 3:32am Oct 26, 2012 3:32am
Quoting nAVIN2007
yeah

hey nav... just wanted to share this moment with you.. for once i am on your side... cable short!!! it was important so i had to come and tell you
I don't want a job, i want money!
  • #328,374
  • Oct 26, 2012 3:33am Oct 26, 2012 3:33am
G/M

Daily and monthly Pivots around the current daily lo's - 1st test on the swing lo created earlier at 38.2% of yesterday's lo-hi (point a-b)

G/L
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ex member
  • #328,375
  • Oct 26, 2012 3:34am Oct 26, 2012 3:34am
Quoting Fudomyo
Hey Mike,

I don't see them doing a peg. Probably some more asset buying. There's a lot of resistance from Abe's party against any major spending increases, so Noda is limited with what he can do.

The bigger issue is, Japan's between a rock and a hard place with needing a strong yen to maintain the debt (a single basis point increase on interest would bankrupt the government). Also any major weakening like what happened in the 90's would create a regional debt crisis, so they need to proceed carefully. (China and Korea would go into serious recession...
Many thanks for your views. You now have me doing half a day of research to fully understand them, which, I suppose, won't do me any harm. This tone of uncertainty is reflected in the price between 2011 and 2012 and I am still reading conflicting views, one of which posed the possibility of 75 again before 85. This would back up the simple technical analyses of equity indexes. By the way, everyone, sorry for being off topic.
Gone to a better place
  • #328,376
  • Oct 26, 2012 3:46am Oct 26, 2012 3:46am
Quoting dario1002
hey nav... just wanted to share this moment with you.. for once i am on your side... cable short!!! it was important so i had to come and tell you

but watching the possible bullflag that its forming over the hourly and 4h right over DP, WP and MP ....
I don't want a job, i want money!
  • #328,377
  • Oct 26, 2012 3:52am Oct 26, 2012 3:52am
Quoting dario1002
hey nav... just wanted to share this moment with you.. for once i am on your side... cable short!!! it was important so i had to come and tell you

man i feel great now..i hate when u on the opposite end of the pier
if usd comes in with a great gdp..i see it as possible
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  • #328,378
  • Oct 26, 2012 3:57am Oct 26, 2012 3:57am
EW perspective short term expected one more spike up in cable
Learning Requires Failure
  • #328,379
  • Oct 26, 2012 3:59am Oct 26, 2012 3:59am
struggling at steepest 1hr descending t/line ?

G/L
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ex member
  • #328,380
  • Oct 26, 2012 3:59am Oct 26, 2012 3:59am
unless good U.s Gdp # signals Risk On and thee market buys the 'riskier' assets like gbp ?

G/L

Quoting nAVIN2007
man i feel great now..i hate when u on the opposite end of the pier
if usd comes in with a great gdp..i see it as possible
ex member
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