Cable Update (GBPUSD)

Of a final spike up to convince everyone about a new bull trend and then just down from there.

IMO there will not be a major upward for USD as on charts longs on usd doesn't last long. There might be a short on USD today and next week it'll be strong again. It There should be a kinda retracement, if not then we'll have a weaker usd next week. GU and EU NZD are overbought on weekly and mounthly charts...

sl hit. +-0

yes, same here +0, moved my sl too low just before the move... however, good my trade was good one if my scalp trade was not stopped.. but that's what SL are for.

Ah well, only went to 6262, next one, I guess.

yes, agreed. but i will try a new long, soon. either today or tomorrow.

if you think it act on it,,i did not ,,but we can buy them all back fill the top of the spike ???

Highlights on the latest FOMC statement,

Information received since the Federal Open Market Committee met in July suggests that economic activity is expanding at a moderate pace. On balance, labor market conditions improved somewhat further; however, the unemployment rate is little changed and a range of labor market indicators suggests that there remains significant underutilization of labor resources. Household spending appears to be rising moderately and business fixed investment is advancing, while the recovery in the housing sector remains slow. Fiscal policy is restraining economic growth, although the extent of restraint is diminishing. Inflation has been running below the Committee's longer-run objective. Longer-term inflation expectations have remained stable.

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with appropriate policy accommodation, economic activity will expand at a moderate pace, with labor market indicators and inflation moving toward levels the Committee judges consistent with its dual mandate. The Committee sees the risks to the outlook for economic activity and the labor market as nearly balanced and judges that the likelihood of inflation running persistently below 2 percent has diminished somewhat since early this year.

The Committee currently judges that there is sufficient underlying strength in the broader economy to support ongoing improvement in labor market conditions. In light of the cumulative progress toward maximum employment and the improvement in the outlook for labor market conditions since the inception of the current asset purchase program, the Committee decided to make a further measured reduction in the pace of its asset purchases. Beginning in October, the Committee will add to its holdings of agency mortgage-backed securities at a pace of $5 billion per month rather than $10 billion per month, and will add to its holdings of longer-term Treasury securities at a pace of $10 billion per month rather than $15 billion per month. (10 billion QE reduce) The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. The Committee's sizable and still-increasing holdings of longer-term securities should maintain downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative, which in turn should promote a stronger economic recovery and help to ensure that inflation, over time, is at the rate most consistent with the Committee's dual mandate.

The Committee will closely monitor incoming information on economic and financial developments in coming months and will continue its purchases of Treasury and agency mortgage-backed securities, and employ its other policy tools as appropriate, until the outlook for the labor market has improved substantially in a context of price stability. If incoming information broadly supports the Committee's expectation of ongoing improvement in labor market conditions and inflation moving back toward its longer-run objective, the Committee will end its current program of asset purchases at its next meeting. (QE ends in Oct if shit doesn't come down) However, asset purchases are not on a preset course, and the Committee's decisions about their pace will remain contingent on the Committee's outlook for the labor market and inflation as well as its assessment of the likely efficacy and costs of such purchases.

To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that a highly accommodative stance of monetary policy remains appropriate. In determining how long to maintain the current 0 to 1/4 percent target range for the federal funds rate, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial developments. The Committee continues to anticipate, based on its assessment of these factors, that it likely will be appropriate to maintain the current target range for the federal funds rate for a considerable time after the asset purchase program ends, especially if projected inflation continues to run below the Committee's 2 percent longer-run goal, and provided that longer-term inflation expectations remain well anchored. (no hint on early rate hike in 2015)

When the Committee decides to begin to remove policy accommodation, it will take a balanced approach consistent with its longer-run goals of maximum employment and inflation of 2 percent. The Committee currently anticipates that, even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run.

Original text
http://www.federalreserve.gov/newsev.../20140917a.htm

look how that fib worked out ,,lets see if it holds it

right. long again @ 1,6300 sl 1,6260

rather short to 1.6252

Roger on That...
Who Let the Bears back Out? !

All we have now is the Un-Certain, "Scotland" Vote,
and the world ain't lookin, too pretty...
SELL SELL SELL... !

and 1.6238

-Yes...

Ok,

We just passed the 1/4's...
On down, little Lassie !

shitty cable...

dow thing, you make my heart sing

This i have to say is Wave-3 "SOUTH", on a 15-Min Chart...

More to Come,

I see it as WAVE-1, on a 240 Min Chart
Enjoy,

"Folk's"... !

Yep, 6260 done.

nice one, congratulation!

Now,

The Real Trade Decison...
Do well all wear our "Stinking, 'Filthy', 'Short's",
on towards "KILT-DAY", and 'Keep 'em on 'till
news...

Then do like "Brave Heart" Turn Around at Everyone?

!

Thanks! Can't wait to long this at 1.33.