GBPUSD

My take profit is somewhere around 1.8700

my short is at 1.8953... t/p is at 1.8900 ... am i playing it too safe?

who else is shorting gdpusd?

Shorted 4 lots at 1.8957

TP for first 3 lots is at +30 pips

SL is then moved to breakeven for last lot which i will let ride


wont trade another 3 lots until next daily open candle...and wont close the lot that is riding until i make an opposite trade (long trade)

Mine is very close to your entry.

1.8950, I suppose you used the candle open price on daily.

Indeed 1.8900 is psychological. but I prefer 1.8870-75 support...Let's see how much upside will do, and according to GBP daily range it might slip lower than this. I think 1.8870 is fair though.

You got to be patient to attempt 1.8700 target. That not impossible given a very possible reversal is forming on daily. Showing DT after its been UT for me for a whole month. So its getting me cautious.

....u cant predict the market!

...of course you can, you just might not get it right. The technicals and fundamentals are lining up on the sell side but the daily range of cable is very wide so selling into resistance makes more sense.

safe to say that shorting eur/usd will be also good?

Exactly, it's very wide and you can't predict the day high. but anyway, if it's swinging lower, no worries.

Good luck shorts..

Can't say that EURUSD will drop equally, the daily chart still has its bullish phase ..we need to swing lower down 1.2780 to change that.

I agree on the possible short for Cable, but will wait until after the Claimant Count Change.

This might bring forth some resistance

Moving stoploss to entry point now ahead of UK Inflation Data.

thanks for your advices, I''m about +80pips on my 4 lots so far.

what about the usd FOMC and the Empire Manufacturing Index, what effects will this have?

The big mover today will be the 1030 (UK time) Inflation Report and press conference. The Bank of England website has a webcast so keep your eyes glued. It only happens once every 3 months and is a big market mover.

10.30 UK time is what in EST?

5:30am

from what it looks like to me.. we are going to have a spike (long) then a short afterwerds durring the day.. we will see im prepaired both ways

Indeed. Can't rule out a spike after the bounce from 1.8918..but unless the inflation report really changes this trend, its swinging lower again during the day.

We are short from 1,905 and a re looking for covering this position. I beleive bounce from 1,892-1,895 will go up to 1,91-1,913

jobs claims, then boe statement, then further weakening of the dollar towards the empire index release, me thinks a long lond day, i went in on the eur/usd yesterday at 1.2800 which seems pretty well covered for now

16 pips so far.... fingers crossed