City Bound
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BO short this morning at 684. I would prefer to be long but the system's the system.
i think you should do all right, market signalling dollar and euro (against crosses) strength. question is where will the pound go.
my guess is that we will get a scenario in which the driver is ECB and BOE is a non event.
good luck. I got to drive my car to be serviced......of all days in the year!
my guess is that we will get a scenario in which the driver is ECB and BOE is a non event.
good luck. I got to drive my car to be serviced......of all days in the year!
Offshore Trader
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Well Jacinto if the dollar and euro are both strong, cable should get caned. I have an idea that a no change verdict will promote some big selling of the pound as there is still a resonable chance of a hike priced into the market. I would have thought that if it was only 5-4 last month the BoE would be a little more cautious than to launch into another hike now, particularly as they keep saying they are not concerned about medium term inflation. Presuably last time's hike was just to sort out the short term problem.
I just hope we don't get any silly spikes today because I'm fed up of getting stopped out on them, unless of course they just reach my limit orders!
Good trading everyone
I just hope we don't get any silly spikes today because I'm fed up of getting stopped out on them, unless of course they just reach my limit orders!
Good trading everyone
Fwiw, Shadow MPC voted 5-4 to hold rates steady. Five SMPC members voted to hold rates at the 5¼%, announced on 11 January, three SMPC members voted for a ¼% increase, one voted for a ½% rise, and nobody voted for a reduction. The bare vote gives a slightly misleading picture of the overall degree of hawkishness involved, however, because several of the holds had a bias to raise, and some of the ¼% hikers wanted further increases subsequently.
Just covered 9730 and 9720 shorts at 9678
Holding 9704 with stop at 9730
BOE have access to next weeks CPI data so almost impossible to call on the decision today.
The weekly and monthly charts are definately topping out with negative D on both timescales.
Just sold a 1.9300 short call, expiry 28th March for 421 pips, also still holding a long 1.9850 call from a couple of weeks ago, expiry is 13th Feb so I have some topside protction if they do surprise today, I think if they do raise the spike up will be short lived as that will then preclude any further hikes for the next month or so.
Sweet crude failed this week to break the $60 level again, I'm holding heavy QMH7 (Nymex march contract) shorts from 59.39 and looking for 54,
But the weekly and monthly look very toppy on Cable for those playing the longer game.
Holding 9704 with stop at 9730
BOE have access to next weeks CPI data so almost impossible to call on the decision today.
The weekly and monthly charts are definately topping out with negative D on both timescales.
Just sold a 1.9300 short call, expiry 28th March for 421 pips, also still holding a long 1.9850 call from a couple of weeks ago, expiry is 13th Feb so I have some topside protction if they do surprise today, I think if they do raise the spike up will be short lived as that will then preclude any further hikes for the next month or so.
Sweet crude failed this week to break the $60 level again, I'm holding heavy QMH7 (Nymex march contract) shorts from 59.39 and looking for 54,
But the weekly and monthly look very toppy on Cable for those playing the longer game.
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hornblower
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there is no snow in my part of the world
I don't why but I have a real feeling they are going to hike again.
Just covered remaing short @ 9667
Going to wait, USD finding some strength today so IF they raise then would expect GBP topside to be limited and stall between 9750 and 9850 I will be looking to short heavy from there. 9850 call option will be my mobile stop
ECB 45 mins later should hold but lets see what Trichet says after
Just covered remaing short @ 9667
Going to wait, USD finding some strength today so IF they raise then would expect GBP topside to be limited and stall between 9750 and 9850 I will be looking to short heavy from there. 9850 call option will be my mobile stop
ECB 45 mins later should hold but lets see what Trichet says after
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Phil Mibbutz
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Let's not worry about the weather. Although this will probably be a non-news day in overall effect, will the chart grow a stalagmite or a stalactite first after it's announced?
i just got back from driving 3 miles in 60 minutes. i love the snow. why on earth did i leave my sunny country to come and live here. 
a_gnome
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myz555 said:
Hi there,
Since no one else has answered your question I thought that I would make a few comments. It is possible to trade successfully in all sorts of ways and traders end up finding something that suits them. However I would personally say that it is much easier to trade with the trend then against it. Therefore I would leave divergent oscillator trades alone for the time being - the market has a nasty habit of continuing in a trend despite the fact that all the oscillators are at extremes and signaling a reversal.
Hope this helps.
Morning all. currently short from 9710 (based on doji on hourly at 0500 GMT). I should know better, but didnt follow my own system, so didnt scale out at 9650 like I should have. Im looking for a run down to 9610.
FAO wasp...when you get a chance, have a look at the MXN, HUF and PLN pairs and the GBP/ZAR cross. Very easy to trade and trend beautifully!
FAO wasp...when you get a chance, have a look at the MXN, HUF and PLN pairs and the GBP/ZAR cross. Very easy to trade and trend beautifully!
