Thread: Discuss GBP/USD - H2 2012

Originally Posted by meonia

I'm with you citytrader46. Something doesn't add up. Just waiting for Merkel to put her foot in it again...

Well I hope it's sometime soon Meonia!

Spreadbetting .... just moving them myself manually... have a feeling were going to get a spike down... or up. Had 6 buys all lined up this morning near trend resistance.... half closed .. the rest I am just watching. 5 min RSI is calming down nicely....

Originally Posted by Gregory McLeod

So are you using manual trailing sell stop?

Originally Posted by Gregory McLeod

BTW, I am short...5ft 8 inches and short cable from various degrees of pain.

Hahaha! You gotta love trading if only for the pain it causes you lol!

Originally Posted by markie6

Market doesn't want to wake up the monster shorts that a re likely sleeping at 1.575- 1.576

that is where I switch anyhoo

I am manualy trailing my stops within 15 of the top... I don't mind missing a ride down, when it was a good run up..

Good philosophy its always worth remembering not to get too greedy..... but

Originally Posted by meonia

LOL! I hear ya!

Plenty of talk and no real action in the Eurozone still. I'm amazed the market hasn't punished the Euro a bit more yet. Currencies have been trading sideways and very quiet this week. I always get nervous for the bad news when that happens.

Surprised that there wasn't more of a negative reaction Greg, when Spain came out with cap in hand again. Think they're up over 450 bln euros now in the hole. I think they'll need to have every German buying cheap Spanish condos, just to help out.

Still, more German data out tomorrow morning, so perhaps we see a pre-news reversal before the US closing bell tonight.

More talk of the BOE needing to add a further £50bln to its QE programme, so expect more falls over the next couple of weeks...

When does it sink home if QE1 doesnt work or QE2 why would 3 or 4 or 5? Just give me the money and I will put it into the economy lol

Originally Posted by citytrader46

Hahaha! You gotta love trading if only for the pain it causes you lol!

Hey citytrader 46, John Cougar Mellencamp said it the best:

London session review and outlook August 16 - 2012
Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.





Regards

Alejandro Zambrano
Currency Strategist | DailyFX Forum (London)

Originally Posted by citytrader46

When does it sink home if QE1 doesnt work or QE2 why would 3 or 4 or 5? Just give me the money and I will put it into the economy lol

President GW Bush handed out direct checks to families and individuals to spur economy. I remember a $300 and $600 check that I "recycled" back into the economy. I believe there was a little bump in GDP as a result.

Should know within the next couple of days if this is going to work. Many times the price action will exit the triangle in the direction that it entered, In this case it entered upwards, hence exit should be out the top. Here's the chart that should have gone with the previous post (edit 9/17 adding link to prior post) http://forexforums.dailyfx.com/gbp-u...ml#post1287257 (hate to publicly show it because it has so many nested 1-2's):
http://www.tafool.com/Charts/gbpusd0816124h.png

and of course Helicopter Ben ( Bernanke) got his nickname for an idea of dropping notes from a helicopter ( true or not I don't know )

Originally Posted by Gregory McLeod

President GW Bush handed out direct checks to families and individuals to spur economy. I remember a $300 and $600 check that I "recycled" back into the economy. I believe there was a little bump in GDP as a result.

Originally Posted by Gregory McLeod

President GW Bush handed out direct checks to families and individuals to spur economy. I remember a $300 and $600 check that I "recycled" back into the economy. I believe there was a little bump in GDP as a result.

Thats the spirit but I'm talking about the whole of QE I want to be responsible for recycling that! I'm not saying it will have any benefit whatsoever all I can promise is that I won't stop until it's all gone. In the meantime I'll rock on down for a bit with John Mellencamp whilst being tortured to death by the GBPUSD lol! Better start looking for tomorrows trades I think todays will soon be all but a distant memory

shorted at 1.5743 .... stops set for now at 1.58 .... looking at lower but will react if things head north.. looking for at least a fib retrace ..to sub 1.57 and see how things pan out tomorrow

Originally Posted by markie6

and of course Helicopter Ben ( Bernanke) got his nickname for an idea of dropping notes from a helicopter ( true or not I don't know )

He quoted Milton Friedman from "The Optimum Quantity Of Money". Something like, "Let us suppose a helicopter flies over and drops...." Since then the name has stuck.

Originally Posted by markie6

shorted at 1.5743 .... stops set for now at 1.58 .... looking at lower but will react if things head north.. looking for at least a fib retrace ..to sub 1.57 and see how things pan out tomorrow

Welcome to the torture chamber Markie6

Originally Posted by markie6

shorted at 1.5743 .... stops set for now at 1.58 .... looking at lower but will react if things head north.. looking for at least a fib retrace ..to sub 1.57 and see how things pan out tomorrow

Ive gotten in at the exact same level as well