Best Thread Live Cable Trading

[trendie]

possible bearish-engulfing on the hourlies ? ( reversal )

 

[Baruch]

possible bearish-engulfing on the hourlies ? ( reversal )

According to MNI rumours about a weak retail sales number send Cable down 30 pips - now the number is out, and it was weak, but who leaks such numbers?

 

[TheBramble]

According to MNI rumours about a weak retail sales number send Cable down 30 pips - now the number is out, and it was weak, but who leaks such numbers?

Perhaps an assumption that there is any link?

And if there was, why would weak retail sales make the Dollar more expensive - i.e. Cable went down.

 

[Kaffee]

According to MNI rumours about a weak retail sales number send Cable down 30 pips - now the number is out, and it was weak, but who leaks such numbers?

Sorry Brauch, what's MNI ?

 

[Baruch]

Sorry Brauch, what's MNI ?

Market News International - a newsservice about the forex market.

 

[Baruch]

Perhaps an assumption that there is any link?

And if there was, why would weak retail sales make the Dollar more expensive - i.e. Cable went down.

Because: weaker retails sales=slower growth=less inflation= no more rate hikes.

PS. Are you trading from Cambodia?

 

[TheBramble]

Because: weaker retails sales=slower growth=less inflation= no more rate hikes.

I'm not so sure neo-classic economic theory is accepted as being necessarily valid in the FX markets. The currency markets move far more quickly and to the beat of a very different drummer.

And particularly at this point in time given the general expectation of precisely that rate hike (0.5%?) occurring. If you're trading expectations, and the majority of currency trading IS speculative rather than reactive, then you'll be looking for a move to the downside in that event. In which case a breach of 7650 will be key.

I didn't answer your initial question Baruch - I can only imagine the people who 'leaked' the rumour to MNI were those who either (a) had solid confirmation of that information and/or (b) would like the impact of the information (be it true or false) to be factored into the markets. Your guess is as good as mine as to their identity and motivations. 😎

Having said that, do MNI always get it right...?

 

[Baruch]

1. Yes, weak retails sales are not good for Cable.
2. I don't know (about MNI).

 

[Kaffee]

It's having a flirt with H3 down here.....

 

[dc2000]

Hi Peeps
Hope ya all gettin some, Im currently waiting for 693 and will prob go long this afternoon into close

We went higher than my 730s target which opens an upper target for a short a BIG short IMO

 

[trendie]

problem is too many systems giving conflicting signaks.

my world-renowned system is saying prepare for a long, ( uptrend, look for a retrace ).....
so it must be about to tank.

maybe I should only take signals at set-times of the day. ie; ignore at 13:00-14:00 ??

 

[TheBramble]

1. Yes, weak retails sales are not good for Cable.

You appear to be agreeing with something I haven't said. In fact, a position I am challenging.

Weak (US) retail sales, IF they lead to an interest rate hike, would in principle be good for the Dollar (good as in it would increase in value against other currencies - all other factors remaining unchanged) and would potentially cause the level on Cable to decline. You're going to get less Dollars for your Pound. Which is neither good nor bad for Cable. Depends on your position...

What I was challenging was the assumption 'weak US retails sales would lead to no more rate hikes' (your assertion). 'No more rate hikes' would be less good for the dollar and cause potentially the level of Cable to increase. Again neither good nor bad dependent upon your position.

But all this discussion, worthy as it may be, is going to get lost amid the torrent of live calls, stops, profits and losses and reverses.

Quite rightly too.

 

[Kaffee]

Well the hourly is giving support around 695 IMHO. And DC says long... and he's never wrong. So you might be on the money today.

 

[dc2000]

Small long now with a wide 40 pip stop as my prefered entry for a long is at 672 this afternoon

 

[Baruch]

You appear to be agreeing with something I haven't said. In fact, a position I am challenging.

Weak (US) retail sales, IF they lead to an interest rate hike, would in principle be good for the Dollar (good as in it would increase in value against other currencies - all other factors remaining unchanged) and would potentially cause the level on Cable to decline. You're going to get less Dollars for your Pound. Which is neither good nor bad for Cable. Depends on your position...

What I was challenging was the assumption 'weak US retails sales would lead to no more rate hikes' (your assertion). 'No more rate hikes' would be less good for the dollar and cause potentially the level of Cable to increase. Again neither good nor bad dependent upon your position.

But all this discussion, worthy as it may be, is going to get lost amid the torrent of live calls, stops, profits and losses and reverses.

Quite rightly too.

I don't talk about US retail sales, but the data about UK retails sales which came out earlier today. 😉

 

[Baruch]

Small long now with a wide 40 pip stop as my prefered entry for a long is at 672 this afternoon

Good luck. Do you also watch/trade euro?

 

[dc2000]

I watch the Euro and the swissy but only trade them about twice a week when I spot an entry

 

[Baruch]

Saxo Bank recommends buying a put 1.2000 euro option with expiry 7.2 (one week). Cost: 29 pips. They expect US strenght the next days.

 

[UM_manager]

Digital

.. fast band pass filter (blue line) changed its direction yesterday after having generated a pattern of continuation. A downtrend or corrective movement by duration of 8-20 trading days is expected..

 

[dc2000]

stop now moved to breakeven and targeting 80 pips