Best Thread Live Cable Trading

[Priceman]

Well if there is low inflation then no need for rate hike.

But if people are still spending what they don't have then maybe we need one... I know the board were 7-1 and the 1 is no more and all that... can't see a hike myself really just yet either

 

[coolTrader]

I did not know the King was speaking! Here is some excerpt
King said that the MPC was still expecting "some rebalancing" in the U.K. economy. He said that there were signs that business investment levels were higher, and that the outlook for export growth was "brighter than it has been for some time." He said that these two factors should offset the fact that consumer spending growth wouldn't be as fast as in the past.
Overall, King said that he expected growth to remain at around its trend rate of growth given these factors.
However, the governor went on to say that there was as yet "no hard evidence" of a recovery in business investment in the U.K., though he believed it was reasonable to expect that there would be one.

 

[coolTrader]

.It is all credit though the spending. they will increase at some point but to do so now may hurt business yet.

I will play it safe and stick to the charts and leave the rest to the fundamental analyst to interprete

 

[dc2000]

About time Cable reached target

As for what Mr king has to say Im sure he's in dream land there is plenty of evidence that UK businesses continue to take a great deal of their operations elsewhere in the world because the UK has become too expensive so what makes him think there is likely to be more investment???

Off my soapbox now, and having a glass of lemonade

 

[dc2000]

Im now positioned on Cable and Dow
Key prices for me are 11071 dow and 1.8098 if either hits these then its money off the table

targets on these are 470 pips cable and 295 dow or Friday close whichever comes first

 

[Offshore Trader]

I'm a little surprised to see so much dollar buying this morning, whilst there has not been a huge movement, the buying has been consistent. This leads me to believe that the market will adopt a more "neutral" stance ahead of the FOMC announcement and so we should see USD selling against all currencies. I'm with DC therefore. Obviously a 25bp move should assist the move higher but I hope to have a better S/L by then.

 

[coolTrader]

Yes the dollar buying does not seem to affect usd/jpy sometimes this tells where they are really going.
this has not moved. Almost makes me thinkt they will sell of the Dollar may not be today but definately tomorrow. Though it all boils down to what the fed has to say.

 

[Baruch]

Im now positioned on Cable and Dow
Key prices for me are 11071 dow and 1.8098 if either hits these then its money off the table

targets on these are 470 pips cable and 295 dow or Friday close whichever comes first

dc,

I don't understand your calls. Do you think Cable and Dow will go up or down - and why?

 

[Offshore Trader]

dc,

I don't understand your calls. Do you think Cable and Dow will go up or down - and why?

Long Cable and short Dow are the calls. His levels are stop losses. The cable was from 1.8115/20 level so risk is a bit bigger now.

 

[Baruch]

Long Cable and short Dow are the calls. His levels are stop losses. The cable was from 1.8115/20 level so risk is a bit bigger now.

Thank you.

Bigger risk? You must mean smaller?

 

[Offshore Trader]

Thank you.

Bigger risk? You must mean smaller?

Well I meant worse risk/reward ratio, although I agree that the market is now moving in the correct direction. I don't know where DC gets his levels from though...

 

[Offshore Trader]

Dollar struggling with support at 1.2460 ag CHF and 1.2560 EUR. Needs to break these to allow Cable higher IMHO

 

[marmoset]

Hi folks,

Just in the door, had a dreary day chainsawing logjams on dodgy footing, merciless sun beating down (30°C), interspersed with violent thunderstorms. I'm pretty rattled (literally, you go and hold onto a chainsaw for four hours straight), not fighting, er, trading fit at all.

CMS also seems to have a problem with updating some charts, notably the eur/$ 15min and the cable 1min (not THAT one, I'd need it for the FOMC minutes ). Think I'll just stay out of the fray and watch the announcement unfold.

On a happier note: the overweight grand dame sang as she hit my target of 8125. I'd already been up for a bit scalping Tokyo (+24-9 loss: +15), went short at 69 (+42), had an entry short (1£/pip, just to make it a nice round lot with the 69 short) at 80 (+53): up 110 pips for the day

My opinion on the FOMC minutes:
no increase: long cable (surprise, everybody expects at least +25bp)
25bp increase: spike down (+/- 30pips), secondary move back up (30-70pips) as already factored in
50bp increase: surprise: biiiig spike down (50-100pips), flagpole and flag formation (scalp time!)

 

[Offshore Trader]

Can anyone explain the weakness of sterling today? Everything else appears to be pretty neutral as you would normally expect ahead of an FOMC meeting but the Sterling sellers, against both the EUR and USD, are carrying on regardless. No doubt there will be a huge bounce after I'm stopped out......

 

[Baruch]

Can anyone explain the weakness of sterling today? Everything else appears to be pretty neutral as you would normally expect ahead of an FOMC meeting but the Sterling sellers, against both the EUR and USD, are carrying on regardless. No doubt there will be a huge bounce after I'm stopped out......

There was data about UK house prices this morning, which was below expectations. Since then, Cable has been weak.

PS. Here is a thread about news trading: http://www.strategybuilderfx.com/showthread.php?t=16749&page=24

PPS. Big B. has started doing well again.

 

[marmoset]

Can anyone explain the weakness of sterling today? Everything else appears to be pretty neutral as you would normally expect ahead of an FOMC meeting but the Sterling sellers, against both the EUR and USD, are carrying on regardless. No doubt there will be a huge bounce after I'm stopped out......

Just restarted my VT Trader, all charts showing again so I can actually compare.

Same thing happened in Tokyo: everybody seems to want to short sterling. Hmm, guessing here: smallest interest rate differential? Most "neutral" economic prospects? (euro has a rate hike rumoured early August, Swissy same, Yen too, CAD had good figs and is commodity (oil and gold) supported). So they get rid of the currency where they have the least good reason to be in is what I'd figure. I may be totally wrong though, very curious to hear what the real reason is...

 

[zuke]

Evening all. I am trying a new strat for the next month, so you might see some strange cals from me in that time!! I currently trade a variant n the Vegas 1hr tunnel, but wanted to added a scalping strat to my armoury so have modified it (a lot!) to see if I can get it to work on the 5 min.

My first trade is LONG 106, Stop 072, Target 139, just 1 mini lot ($1a pip)

Only doing 1 mini lot at the mo to see how it pans out.

 

[marmoset]

Evening all. I am trying a new strat for the next month, so you might see some strange cals from me in that time!! I currently trade a variant n the Vegas 1hr tunnel, but wanted to added a scalping strat to my armoury so have modified it (a lot!) to see if I can get it to work on the 5 min.

My first trade is LONG 106, Stop 072, Target 139, just 1 mini lot ($1a pip)

Only doing 1 mini lot at the mo to see how it pans out.

Hi Zuke,

I'd have to read up on the Vegas Tunnel System before I'd be able to voice an opinion, but right for the moment I'd have to point out the obvious: we're just in front of major news, skewing the results for the first scalp negatively. A spike is to be expected, most likely downward, stopping you out.

So don't can the new method on too many negatives related to news. It may just be that standardized systems don't work during news (how many actually do?).

EDIT: just noticed I used "can" (AmE), should have been "bin" (BrE). Molte scusi!

 

[smbtnt]

Just had a system trade signal at 8095 and 8078, really need to filter these out when they appear against trend and before major news.

 

[marmoset]

short at 04