My Forecast 05-November-2009

[PROFITABLE/SUCCESS-*****] Please note I never hedge.

12:10GMT As mentioned in chat GU touched the range of 6600-700[****]
12:00GMT BOE QE was less than expected 50bn only 25bn
11:20GMT waiting for BOE Data - no forecast
07:20GMT EURUSD pattern shows end-december expected target at 1.5390s now 1.4825, EURJPY target 140.80s now @133.95
07:10GMT GBPUSD, EURUSD, EURJPY to be dropped by 100-150 pips each in 24hrs intentions now GU 1.6475, EU 1.4828 & EJ 133.96
07:10GMT GBPJPY will be dropped soon target 147.74 now @148.85 after a brief recovery at start of UK session good entries above 149.34 [*]
06:40GMT GBPUSD changing into DOWN trend but GBPJPY holding on
06:30GMT 24hrs extreme ranges - GU 1.6431, EU 1.5012, EG 0.9027, GJ 147.74, EJ 132.69
04:40GMT Hope My Retrace charts for EURs & GBPs helped in morning's DOWN trend[**]
04:10GMT GBPJPY will start UP hunt in 1-2hrs time [*****]
03:10GMT GBPJPYs DOWN trend loosing strength; EURJPY DOWN trend gaining strength
02:00GMT "probability" is that all JPYs going to hit very high (I wish vice versa)
02:00GMT "Probability" is that players going to hold GBP & drop EUR inturn EURGBP drop


Chances of GBP hitting 1.6600-6700 is more if BOE is not doing QE.
Good Morning friends, we know that we are standing on top of alps not himalayas. And Fed has taught us that we are only playing a probability game when there was just sideway moves yesterday. Question now; are we going to see himalayas today or a beach. It all depends on Mr. King & his team of BOE to decide on QE. "If" they do more QE then we will see GBP hammered "else" USD bashed, smashed & mashed. I hope you sticked to the rules yesterday - the waiting game and not getting trapped with short at very low level. I followed a strict regime of not going for a kill. Though I had chances to do 400 pips I sticked to a low & safe 145 pips. Today again I'll wait for BOE to express their view and then FX players. Good & safe trading day.