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GBPUSD

  • #1,041
  • Oct 12, 2006 7:10am Oct 12, 2006 7:10am
All GBPUSD analysis pointing downward. Does this mean its going to go up? hehe
  • #1,042
  • Oct 12, 2006 7:24pm Oct 12, 2006 7:24pm
Quoting dof
easy trade?!
easy trade = easy to decide on the direction, sl and RRR
  • #1,043
  • Oct 12, 2006 7:54pm Oct 12, 2006 7:54pm
I have been shorting GBP/USD since 1.9040. I still think there's some downward movement coming, but if it rises above 1.8630 or so, I will consider closing my short.
  • #1,044
  • Oct 13, 2006 9:16am Oct 13, 2006 9:16am
should i buy now?
it seems low enough now though..
  • #1,045
  • Oct 13, 2006 9:33am Oct 13, 2006 9:33am
Why is it bullish dollar when all the numbers before consumer confidence was negative? The initial move up was only a head fake which I was expecting ... but I was still cautious about shorting the euro/cable.
  • #1,046
  • Oct 13, 2006 9:45am Oct 13, 2006 9:45am
yes really it is very strange dollar diving down like hell.Only reason i can think of is that us cosumers are wayyy tooo much optimistic and spending lot of money.and also i think both the consumers and dollar bulls r crazy
  • #1,047
  • Oct 13, 2006 9:49am Oct 13, 2006 9:49am
Quoting nitman
Why is it bullish dollar when all the numbers before consumer confidence was negative? The initial move up was only a head fake which I was expecting ... but I was still cautious about shorting the euro/cable.
That's a good question, if you figure it out I'd love to know...
  • #1,048
  • Oct 14, 2006 5:34pm Oct 14, 2006 5:34pm
Quoting AbgZuhaini
All GBPUSD analysis pointing downward. Does this mean its going to go up? hehe

It will go up from here, and Pin Bar method says so
  • #1,049
  • Oct 14, 2006 6:04pm Oct 14, 2006 6:04pm
Quoting wwwin
It will go up from here, and Pin Bar method says so
I assume that you are referring to the 4H pinbar since the daily does not show much of anything. The problem I have with that pinbar is that it is basically weak since it is not located at a potential reversal of a strong trend--the pair had been mostly trading sideways for most of the day.

I would be a little cautious using real money on a long position solely on the strength of that pinbar, although one other system I use is just now giving a buy signal (Bella) and another (Bagovino) may soon be doing so.

Personally, I think that I wait and watch just a little longer before committing money.
  • #1,050
  • Oct 14, 2006 9:18pm Oct 14, 2006 9:18pm
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  • #1,051
  • Oct 14, 2006 11:02pm Oct 14, 2006 11:02pm
I am long with GBP/USD with a limit at 1.8680; it rebounded back to 1.8628 on late last week, so I think it will break out from the USD pressure... if not within 2-3 days, then later. Either case, it will go back up sooner or later
  • #1,052
  • Oct 14, 2006 11:18pm Oct 14, 2006 11:18pm
LOL, Kostanza method! The market is apesh%t right now because of all sorts of intervening fundamental situations that are rendering technical trading quite useless. A lot of counter-intuitive moves happened last week, at least from a technical standpoint. We have an impending, and yet undetermined, FOMC decision a week from Wednesday, plus Asian uncertainty in the face of North Korea's monkey business.

I don't know what to do, either. I think after the Monday London session I'll take a guess, though...
"The time to act is when others show signs of tire." --W.D. Gann
  • #1,053
  • Oct 16, 2006 9:34am Oct 16, 2006 9:34am
I know there have been a few threads on GBP/USD in the last few days, but this is my primary pair and I am confused

Looks like there is a resistance level at 1.8642 and support at 1.8520 - when it does break out of those, will it go back up or down?

I am betting on up because it is already at alomst a 3-mo low...

What do you experts think?
  • #1,054
  • Oct 16, 2006 9:59am Oct 16, 2006 9:59am
From my point of view, GBP will go up and touch the resistenace line around 1.8700 then it will reflect to support line (Maybe).

We all do not know what will happen in future, the market can go anyways he likes.

QS.
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"Invest With The Insiders, Not The Masses" George Muzea
  • #1,055
  • Oct 16, 2006 10:06am Oct 16, 2006 10:06am
Quoting Qu|cksilver
From my point of view, GBP will go up and touch the resistenace line around 1.8700 then it will reflect to support line (Maybe).

We all do not know what will happen in future, the market can go anyways he likes.

QS.
That is an interesting chart you have there Quicksilver.
Not that I am predicting anything here based on your chart because I am certainly not but, I will share an observation I have made about price action. Notice how the price is headed upwards toward your upper bear channel trend line? Notice how the price did not touch the lower line before the turn? Often when this happens, if the price reaches the upper trend line without touching the lower line first, it is a sign that the down trend is weakening and can signal a reverse.

Food for thought.
Profit is where readiness meets Opportunity
  • #1,056
  • Oct 16, 2006 10:07am Oct 16, 2006 10:07am
Quoting Qu|cksilver
From my point of view, GBP will go up and touch the resistenace line around 1.8700 then it will reflect to support line (Maybe).

We all do not know what will happen in future, the market can go anyways he likes.

QS.
And I always thought the market was a she...
Nothing is hard, some things just take more time and discipline.
  • #1,057
  • Oct 16, 2006 11:10am Oct 16, 2006 11:10am
Hm, I don't know how you setup the trendlines. The first line looks a bit odd in Qu|cksilver's chart. I like to do it this way:
http://img176.imageshack.us/img176/6...sddailyyq9.gif
  • #1,058
  • Oct 16, 2006 11:50am Oct 16, 2006 11:50am
Bernanke speaks at 1:30 today. Could cause a nice move.
  • #1,059
  • Edited 12:12pm Oct 16, 2006 11:58am | Edited 12:12pm
I see 2 possibilities :

1) BUY @ 1.8585 circa with stop @ 1.8556 circa with target 1,87
Probably would be better to buy lower then 1.8585. something like 1.8578 maybe
But if I see that there is no buy answer at 1.8575 then I doubt I would get long from there
risk -29 pips
reward +100 or more

2) if the price hits the stop @ 1.8556 then I would SELL between @ 1.8580 - 1.8590 circa with stop @ 1.8606 and target from 1.8490 and down
risk - 16-26 pips
reward +100

Just what i would set if I had oco orders types

there is no raccomandation in it.

This is just technical staff. If FED speaks crap, thats not in my possibilties
  • #1,060
  • Oct 16, 2006 6:06pm Oct 16, 2006 6:06pm
Quoting katzenhai2
Hm, I don't know how you setup the trendlines. The first line looks a bit odd in Qu|cksilver's chart. I like to do it this way:
http://img176.imageshack.us/img176/6...sddailyyq9.gif

Here is an idea based on your tech that is a popular old school trade.
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Profit is where readiness meets Opportunity
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