Best Thread Live Cable Trading

[samuelhogg]

Do you think there will be much movement this evening or will it be quiet until London opens?

 

[c6ackp]

good chance of some tradeable action between 00 and 0300, but probably best to sleep and wait for 0630-0730...

 

[coolTrader]

Well WB didnt make his money trading, he made it investing, hed probably make a crap
trader.

Yes but.... he said every one should sell the dollar this year (January). perhaps you had not started trading then
http://moneycentral.msn.com/content/P116165.asp

 

[darktone]

well...we got the retracement i was after albeit on numbers.....

so.. a bounce? or new trend?

i see a bottom myself! ......soon see.

 

[YachtFund]

Hmmm, good bottom that.

Im still bearish. Two good bits of news today, the UK September manufacturing and US consumer credit. They could knock sterling further down. First at 9.30, so see what happens. Any break of the monthly low @7390 could be an invitation to try the yearly low of 7269.

 

[coolTrader]

Will be watching. Looks like the bottom may be in sight soon. but.. who knows. We will wait and see been in out. of longs and short so waiting.

 

[Baruch]

Hmmm, good bottom that.

Im still bearish. Two good bits of news today, the UK September manufacturing and US consumer credit. They could knock sterling further down. First at 9.30, so see what happens. Any break of the monthly low @7390 could be an invitation to try the yearly low of 7269.

Why should consumer credit be important for the fx market?

 

[YachtFund]

Credit is part of interest rate decision making. And interest rates influence the fx market.

 

[Baruch]

Credit is part of interest rate decision making. And interest rates influence the fx market.

Yes, but I dont think Consumer Credit moves the forex market. But let's see what's happening... :cheesy:

 

[YachtFund]

If everyone went out and borrowed £100,000 and spent it, it would cause inflation therefore interest rates would rise to curb inflation. And an increase in interest rates makes a countries currency more appealing making it stronger. There are also bonds which price inflationary expectations.

 

[Baruch]

If everyone went out and borrowed £100,000 and spent it, it would cause inflation therefore interest rates would rise to curb inflation. And an increase in interest rates makes a countries currency more appealing making it stronger. There are also bonds which price inflationary expectations.

I agree with you interest rates (and inflation) are very important, but as far as I remember consumer credit don't move the fx market. But one time has to be the first time... :cheesy:

 

[coolTrader]

very quiet here.. How is the day so far ?any targets

 

[YachtFund]

Buys @7387, sells @7342. I can imagine there will be lots of resistance between 7342 and the year low so could be tough. What about you?

 

[Mornington Crescent]

nothing special yet.

it will either buck or break.

wake me up if we go to 1.74

 

[darktone]

definately sit on hands time for Lt and St..

wait for it!! waaaaaait for it!!!

 

[YachtFund]

Er, whats Lt and St?

 

[Mornington Crescent]

dont know about sitting on your hands.

you should be short.

we are in a falling market and its continuing to fall

the trend is your friend .

until it changes , but not before.

 

[YachtFund]

Went short at 55, its making hard work of it though.

 

[Mornington Crescent]

what I see (5 mins) is that every pull back is being sold off.
with very little overlap
somebody seems quite determined to unload ?

you never know, George may be dumping .....

 

[darktone]

Er, whats Lt and St?

long term ... short term..

dont know about sitting on your hands.

you should be short.

we are in a falling market and its continuing to fall

the trend is your friend .

until it changes , but not before.

ive had my fun short through september from 8200.. my recent long fun from 7550 was cut short... now im sitting on my hands as things to ME are unclear atm...simple

i wouldnt say the Lt trend is down down yet .. sideways at best.. were at support now!

the recent fall weve just had has been to small for me to have a serious handle on.. right now most the potential for this market in the mid term is long but as i said before we will soon see... we bounce!!! or we dont!!!...

its all time frame.. my guess is your 15 minute chart is my 4 hr chart ... im no screen monkey!