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Cable Update (GBPUSD)

  • #361,221
  • Jan 29, 2014 3:44am Jan 29, 2014 3:44am
Quoting edindzeko
{quote} Whats your stop level for a long? Below 6470 or below 6540 area?
s/l is below 6470 but there will be signs of a downtrend before that and mabe i get out before that level happen, most of my s/l dont get hit because i try to get out when there is a trend reversal take a loss and jump in on the new trend
  • #361,222
  • Jan 29, 2014 3:46am Jan 29, 2014 3:46am
Quoting PoundTrader
{quote} s/l is below 6470 but there will be signs of a downtrend before that and mabe i get out before that level happen, most of my s/l dont get hit because i try to get out when there is a trend reversal take a loss and jump in on the new trend
Good way to roll. If you wrong just flip it and be right, im with ya!
  • #361,223
  • Jan 29, 2014 3:46am Jan 29, 2014 3:46am
Quoting allisonmagic
{quote} i got tight stops and my EA checks trades at the top of the hour. if i get a signal it waits for the next candle to confirm. i'm chillin back and watching people panic got my popcorn ready
http://www.easyfreesmileys.com/smile...mileys-799.gif
  • #361,224
  • Jan 29, 2014 3:49am Jan 29, 2014 3:49am
like now she's dropping but there's no signs she's ready to give up on the LONG haul yet
  • #361,225
  • Jan 29, 2014 3:50am Jan 29, 2014 3:50am
Quoting Davit
{quote} wait until Carney opens his mouth at 7am Lets put this in logical context 1.Euro zone=high unemployment and growing bigger,slow stagnated economies Italy,Greece,Portugal pretty much are liabilities. What can rescue the Euro zone?Low interest rates and low currency 2.UK getting sluggishly above rescission but still very fragile. UK biggest trading partner Euro zone.What really scares Carney is Housing bubble and very high household debt.High interest rate without solid jobs specially in manufacturing results constricting economy not expanding....
without printing money the euro zone has survived, sure growth wise it looks like its still got a long way to recover. Sure, carney may not raise rates till 2015. But look at the FED...low inflation and job growth tepid and job growth in low paying sectors, this is after printing a few trillion. If the fed doesn't taper, then euro/cable strengthen as dollar supply still increasing. If fed does taper, then outflows from stock markets and bonds in US has to go somewhere, will probably flow into Europe where bond rates are higher, this lowers financing for Europe. Tapering does not mean raise in US interest rates. As for housing bubble? Household debt? The UK has had that for last decade. What's changed now for it to come into the spotlight. Both the US and Uk need job growth and wage inflation to help consumption. Something neither fed or carney can force.
  • #361,226
  • Jan 29, 2014 3:56am Jan 29, 2014 3:56am
Good Day Everybody,

After making a fresh 30-month high, price is stuck in a triangle within a larger rising wedge which in turn is
trading in a larger uptrend channel.

I see the price structure as being constructive but very vulnerable to
wild swings at this point.

=> CBs rule the day today !!!

Cable now 1.6590 Today's High: 1.6607


No clear setups for trading, as such I'm staying out of any position
for the time being.


Good luck to all.



GBP/USD - H8
Attached Image
Hear the music before the song is over ...
  • #361,227
  • Jan 29, 2014 4:05am Jan 29, 2014 4:05am
Quoting PoundTrader
{quote} {image}
Ha ha, your a crazy nutter bro, lol...
Come with me if you want to live....
  • #361,228
  • Jan 29, 2014 4:07am Jan 29, 2014 4:07am
Quoting monkey@forex
{quote} without printing money the euro zone has survived
Yes it has survived and traded Below 1.30 numerous times since 2008.Why is it different now?
Euro zone unemployment numbers are terrible.There is no "good" news for Euro to continue climbing higher.

Here is an interesting article about Euro zone if you are long on EU
http://www.bloomberg.com/news/2014-0...giving-up.html
Euro Jobless Record Not Whole Story as Italians Give Up

"Situation Worse
The euro area’s official unemployment rate includes only those who actively sought work in the previous four weeks and are available to start within the next two weeks. The labor underutilization rate compiled by Bloomberg using Eurostat data for the third quarter includes the official unemployed as well as those willing to work who have given up looking for a job or are not immediately available.
Among euro-zone countries, Italy has the largest group of potential workers who don’t appear on official unemployment statistics. The gap between the country’s labor underutilization rate, encompassing people between the ages of 15 and 74, and its unemployment rate is more than twice that of Spain and more than five times that of Greece.
“The situation in the region, and in Italy in particular, is certainly worse than it seems at first glance,” Raffaella Tenconi, an economist at Bank of America Merrill Lynch in London, said by telephone. “This is particularly evident when you look at youth unemployment and participation rates.”
In Di Gilio’s home province of Naples the local youth unemployment rate in 2012 was 53.6 percent compared to a national average of 35.3 percent."

Worth reading whole article as it sheds light on true situation.
In trading, you have to be defensive and aggressive at the same time
  • #361,229
  • Jan 29, 2014 4:11am Jan 29, 2014 4:11am
Quoting a16908
{quote} Gonna be short from here, you are in rite position.
I hope so, get the signal, take the trade.
I think if risk is managed on the conservative side, unemotional trading is very achievable.
Come with me if you want to live....
  • #361,230
  • Jan 29, 2014 4:14am Jan 29, 2014 4:14am
Quoting PoundTrader
{quote} i take loses like a boss and keep moving forward
The only way to trade.....everything else isn't trading.....
Hear the music before the song is over ...
  • #361,231
  • Jan 29, 2014 4:15am Jan 29, 2014 4:15am
For sure, I agree that the euro has no reason to above 1.40, it's probably at the top of its range...but UK is in recovery mode (evn if is artificial) as is the US (artificial growth), hence UK growth could lead to interest rates increase before the US interest rate increase, hence cable appreciates...
  • #361,232
  • Jan 29, 2014 4:18am Jan 29, 2014 4:18am
Nice of cable to return back, i took some off and moved to breakeven. No way in hell im letting the market get some back
  • #361,233
  • Jan 29, 2014 4:20am Jan 29, 2014 4:20am
Quoting Davit
{quote} Yes it has survived and traded Below 1.30 numerous times since 2008.Why is it different now? Euro zone unemployment numbers are terrible.There is no "good" news for Euro to continue climbing higher. Here is an interesting article about Euro zone if you are long on EU http://www.bloomberg.com/news/2014-0...giving-up.html Euro Jobless Record Not Whole Story as Italians Give Up "Situation Worse The euro area’s official [url=http://topics.bloomberg.com/unemployment-rate/]unemployment...
How can Italy have 5 times our unemployment rate when we are nearing 30% (Greece)?
  • #361,234
  • Jan 29, 2014 4:22am Jan 29, 2014 4:22am
Quoting sakisf
{quote} How can Italy have 5 times our unemployment rate when we are nearing 30% (Greece)?
Thats the rumor on the ground and I believe its true . I mean look at the US, they report unemployment is going down but they neglect to account for the people who have given up looking for work.
  • #361,235
  • Jan 29, 2014 4:23am Jan 29, 2014 4:23am
Quoting sakisf
{quote} How can Italy have 5 times our unemployment rate when we are nearing 30% (Greece)?
Sakisf
Te kanis ,Bigger Italian population and "Italy has the largest group of potential workers who don’t appear on official unemployment statistics."
if you are living in Greece now could you share your experience in brief.Thank you
In trading, you have to be defensive and aggressive at the same time
  • #361,236
  • Jan 29, 2014 4:24am Jan 29, 2014 4:24am
Quoting Davit
{quote} Yes it has survived and traded Below 1.30 numerous times since 2008.Why is it different now? Euro zone unemployment numbers are terrible.There is no "good" news for Euro to continue climbing higher. Here is an interesting article about Euro zone if you are long on EU http://www.bloomberg.com/news/2014-0...giving-up.html Euro Jobless Record Not Whole Story as Italians Give Up "Situation Worse The euro area’s official unemployment......



If we really started digging in, then technically every economy is faltering in some way or the other...everyone has high unemployment, low wages, high or low inflation, credit bubbles, wealth disparity, crippling social programmes, ageing population...but to oversimplify, euro interest rates will be low, uk interest rates are being perceived as going to rise, US tapering doesn't mean interest rates rise...hence cable up...who knows...half the time the assumptions I make are blown up by market doing whatever it wants...being logical doesn't work in forex...just follow it up or down
  • #361,237
  • Jan 29, 2014 4:32am Jan 29, 2014 4:32am
Quoting Davit
{quote} Sakisf Te kanis ,Bigger Italian population and "Italy has the largest group of potential workers who don’t appear on official unemployment statistics." if you are living in Greece now could you share your experience in brief.Thank you
Kala! Well the rate is counting a % on the total population, so I don't think that the population amount is considered. In absolute numbers, yes, there are alot more unemployed in Italy. Greece has a higher unemployment rate than reported, considering that the people who are enlisted in the army for the compulsory service (~ 40-70.000) are not listed as unemployed (which they are), nor are the university students (~200-300.000).
  • #361,238
  • Jan 29, 2014 4:39am Jan 29, 2014 4:39am
Quoting sakisf
{quote} Kala! Well the rate is counting a % on the total population, so I don't think that the population amount is considered. In absolute numbers, yes, there are alot more unemployed in Italy. Greece has a higher unemployment rate than reported, considering that the people who are enlisted in the army for the compulsory service (~ 40-70.000) are not listed as unemployed (which they are), nor are the university students (~200-300.000).

Thanks Sakisf
I went Greece 20yrs ego on my honeymoon and had best of times.I am very sympathetic to Greek troubles.Hope things will get better.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #361,239
  • Jan 29, 2014 4:47am Jan 29, 2014 4:47am
Quoting PoundTrader
{quote} lol, im just trading the new system i build, it could be wrong, just have to wait and see
Still trading your original method?
Come with me if you want to live....
  • #361,240
  • Jan 29, 2014 5:02am Jan 29, 2014 5:02am
Quoting Ill-b-back
{quote} Ha ha, your a crazy nutter bro, lol...
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