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Cable Update (GBPUSD)

  • #354,181
  • Nov 25, 2013 6:07am Nov 25, 2013 6:07am
Quoting PIPot
tp 6155 or down to that red sliding para line {image}
are we there yet?
Pecuniae obediunt omnia
  • #354,182
  • Nov 25, 2013 6:09am Nov 25, 2013 6:09am
looks like they could be targeting 1.6026 would make alot of sense and i have been expecting it....... buy the fcuk out of 1.6026 if it gets there...
Loser trying to become a winner!
  • #354,183
  • Nov 25, 2013 6:10am Nov 25, 2013 6:10am
something big will happen
Pecuniae obediunt omnia
  • #354,184
  • Nov 25, 2013 6:10am Nov 25, 2013 6:10am
Btw US services PMI was not on the FF calendar. It is 57.1 vs 49.3 previously. Explains the sudden move down 10 min ago.
  • #354,185
  • Nov 25, 2013 6:16am Nov 25, 2013 6:16am
Quoting PipTrapper
{quote} Have you noticed that according to traditional correlations, there is a sense of fear (risk aversion) creeping into the currency markets for the last few weeks... despite the Dow making all time highs? Look at Swissie, more specifically EUR/CHF

tell me about it...lost quite big trying to "trade it back to the mean" so to speak. Don't know what to make of it...Central banks sure do great job confusing and distorting the markets.

So, we have eur/aud and the likes trading as if we are in the midst of a crisis; Dow trading as if things were never better. Yields don't follow stocks even though the yield curve and swaps heavily favour high yielders. Either aud is massively undervalued against eur and usd rate outlooks or the FED actually managed to manipulate the stock market so hard that it's going to continue running on fumes should we get better than expected data despite the tapering fear. Markets are far from normal from it's behaviour. There is this one billion dollar question of why that is:

Should we or should we not sell like there's no tomorrow when tapering starts. At first, it sure felt that way but now, having heard every day how the FED basically is never gonna raise rates after asset buys stops. All eves on bond market.
  • #354,186
  • Nov 25, 2013 6:26am Nov 25, 2013 6:26am
Quoting lumesh
{quote} There is this one billion dollar question of why that is: Should we or should we not sell like there's no tomorrow when tapering starts. At first, it sure felt that way but now, having heard every day how the FED basically is never gonna raise rates after asset buys stops. All eves on bond market.
At some point we need a healthy correction and I believe it will be anywhere between 5% and 10%. Even the biggest equity bulls will tell you they are expecting it. I fully expect the equity markets to remain well bid if the economy is doing well enough for the Fed to taper... especially if we get good NFP and GDP numbers, but nothing is supposed to go in a straight line. It never has before, so why now?
Those who say it cannot be done should not interrupt those who are doing it
  • #354,187
  • Nov 25, 2013 6:29am Nov 25, 2013 6:29am
Quoting PipTrapper
{quote} At some point we need a healthy correction and I believe it will be anywhere between 5% and 10%. Even the biggest equity bulls will tell you they are expecting it. I fully expect the equity markets to remain well bid if the economy is doing well enough for the Fed to taper... especially if we get good NFP and GDP numbers, but nothing is supposed to go in a straight line. It never has before, so why now?
you are right, 5-10% is on the cards for sure. Question remains whether we're gonna hold the Christmas bid all the way to year end and then come down with the January taper ?
  • #354,188
  • Nov 25, 2013 6:32am Nov 25, 2013 6:32am
Quoting lumesh
{quote} tell me about it......
Well as everyone could notice in last several days banks are stepping out saying what and how to trade ...
The Market pays you to be disciplined
  • #354,189
  • Nov 25, 2013 6:33am Nov 25, 2013 6:33am
Quoting mima
{quote} Well as everyone could notice in last several days banks are stepping out saying what and how to trade ...
And im ignoring them day by day
  • #354,190
  • Nov 25, 2013 6:35am Nov 25, 2013 6:35am
Quoting lumesh
{quote} you are right, 5-10% is on the cards for sure. Question remains whether we're gonna hold the Christmas bid all the way to year end and then come down with the January taper ?
That's a good question. This time last year the markets had already corrected before December, but this year they are exploring uncharted territory and the slope is at its steepest in a very long time. Technically it says reversal before January all over it. With a 26% gain this year, if I was holding a bag full of equities in huge profit, I know what I would be doing, and it's certainly not buying.
Those who say it cannot be done should not interrupt those who are doing it
  • #354,191
  • Nov 25, 2013 6:40am Nov 25, 2013 6:40am
Quoting PipTrapper
{quote} That's a good question. This time last year the markets had already corrected before December, but this year they are exploring uncharted territory and the slope is at its steepest in a very long time. Technically it says reversal before January all over it. With a 26% gain this year, if I was holding a bag full of equities in huge profit, I know what I would be doing, and it's certainly not buying.
holding ?
  • #354,192
  • Nov 25, 2013 6:50am Nov 25, 2013 6:50am
Quoting Kevingreene
{quote} sell at 1.6180, s/l 1.6218, t/p 1.6142
come on, t/p almost got hit now look like it wanna go back up
  • #354,193
  • Nov 25, 2013 6:58am Nov 25, 2013 6:58am
Howzit GU!

GU 4H 3 Month view

Long term Resistance seems to be there to stay a while longer?

US data now will either throw on the breaks or push it down the hill

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: 4HGBPUSD.png Size: 27 KB
  • #354,194
  • Nov 25, 2013 7:08am Nov 25, 2013 7:08am
Quoting JimmyC
Howzit GU! GU 4H 3 Month view Long term Resistance seems to be there to stay a while longer? US data now will either throw on the breaks or push it down the hill G/L {image}

The fact that it did not reverse on weaker than expected US home sales data, tells a very interesting story about how disconnected the markets have been from reality.

Prepare to dive... back down to range low.

Attached Image
Those who say it cannot be done should not interrupt those who are doing it
  • #354,195
  • Nov 25, 2013 7:15am Nov 25, 2013 7:15am
Quoting Baggi
{quote} So far, it seems like it's the same as if I'd sold my long position and not purchased the short position.
Your profile says your from the USA, it is illegal to hedge in the united states. maybe you are using an out of country broker, that broker can't be that trust worthy if they allow people in the usa to hedge when they should not be letting you do this . I signed up with a UK forex.com so I could hedge and after a month or so the new law came out and they converted it back to an american acct. again ...................food for thought is all...................
The More You Learn, The More You Earn.....
  • #354,196
  • Edited 7:43am Nov 25, 2013 7:19am | Edited 7:43am
Quoting PipTrapper
{quote} The fact that it did not reverse on weaker than expected US home sales data, tells a very interesting story about how disconnected the markets have been from reality. Prepare to dive... back down to range low. {image}

approaching end month leading to year end..there no time to mess around
btw are u still short?..

i cannot believe shorters in ff have continued to hold?..it looks like traders have more conviction in the direction regardless of true or false
  • #354,197
  • Nov 25, 2013 7:50am Nov 25, 2013 7:50am
Quoting nAVIN2007
{quote} approaching end month leading to year end..there no time to mess around btw are u still short?.. i cannot believe shorters in ff have continued to hold?..it looks like traders have more conviction in the direction regardless of true or false
I remain bearish as long as it holds below 1.6260. If that level is popped, then I go neutral.
Those who say it cannot be done should not interrupt those who are doing it
  • #354,198
  • Nov 25, 2013 7:51am Nov 25, 2013 7:51am
Quoting PipTrapper
{quote} I remain bearish as long as it holds below 1.6260. If that level is popped, then I go neutral.

long usd
  • #354,199
  • Nov 25, 2013 7:54am Nov 25, 2013 7:54am
Quoting forexalien
{quote} Your profile says your from the USA, it is illegal to hedge in the united states. maybe you are using an out of country broker, that broker can't be that trust worthy if they allow people in the usa to hedge when they should not be letting you do this . I signed up with a UK forex.com so I could hedge and after a month or so the new law came out and they converted it back to an american acct. again ...................food for thought is all...................
Ehem... Actually it is quite legal and many brokers allow it (hedging) on an intraday basis only, but at roll over the broker is required to net it out.
So if you are evenly hedged, both positions are fully closed out. If you are net short by 1 lot, then the long position is fully close out and the short position is reduced to 1 lot.
Those who say it cannot be done should not interrupt those who are doing it
  • #354,200
  • Nov 25, 2013 7:55am Nov 25, 2013 7:55am
Quoting PipTrapper
{quote} Ehem... Actually it is quite legal and many brokers allow it (hedging) on an intraday basis only, but at roll over the broker is required to net it out. So if you are evenly hedged, both positions are fully closed out. If you are net short by 1 lot, then the long position is fully close out and the short position is reduced to 1 lot.
I was not aware of this ,,,,,,,,,,,thanks
The More You Learn, The More You Earn.....
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