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GBPUSD

  • #1,481
  • Nov 15, 2006 11:59am Nov 15, 2006 11:59am
I bought at 1.8842 and will close at 1.8914.. We shall see...
  • #1,482
  • Nov 15, 2006 12:04pm Nov 15, 2006 12:04pm
Quoting smjones
I bought at 1.8842 and will close at 1.8914.. We shall see...
On second thought, I think this little upward wedge that has formed on the 15 min would curtal any further upward movement for a while, so I think I will close here. at 1.8892
  • #1,483
  • Nov 15, 2006 12:18pm Nov 15, 2006 12:18pm
looks like everyone is agreed, whatever the outcome we are all poised to sell

had a look at the news releases for tomorrow and it looks like theres a good chance it will continue down/short

good luck all
  • #1,484
  • Nov 15, 2006 12:22pm Nov 15, 2006 12:22pm
Quoting smjones
On second thought, I think this little upward wedge that has formed on the 15 min would curtal any further upward movement for a while, so I think I will close here. at 1.8892
this little upward move makes a perfect room for a downside movement, therfore the dollar is more than ready to rally, all that is needed is a little support from the FOMC minutes. let's see
Trading is a long and a short story.
  • #1,485
  • Nov 15, 2006 12:28pm Nov 15, 2006 12:28pm
Well I am not ready to short again yet. I just got done with one from a 4hour chart. I do not see the setup yet. I will wait on the outside until it is a little more clear to me.
  • #1,486
  • Nov 15, 2006 6:12pm Nov 15, 2006 6:12pm
Pretty much of EUR drop is a GBP weakness versus US dollar. As I mentioned, I wait for a bear signal on daily chart to say that EUR has to drop. Right now, I only see a strong uptrend. And this should get us cautious,

GBP is short
EUR long..and CHF long.. That explains simply that the USD strength is powered by Cable. Not across the board gains.

I will wait EUR to close below 1.2780, and put a bear signal to go for it.
Forex is not easy!
  • #1,487
  • Nov 15, 2006 9:58pm Nov 15, 2006 9:58pm
I notice on 4hr chart the price move within the channel. For today i already short at 1.8899 and take profit at 1.8786

I hope today news will move gbp down again.

Happy Trading.
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"Invest With The Insiders, Not The Masses" George Muzea
  • #1,488
  • Nov 15, 2006 10:04pm Nov 15, 2006 10:04pm
Your strategy is so compatible with mine. Unbelieveable.

I was just setting limit 1.8900, tp 1.8780.

There is also a swing trade bear on daily.
Forex is not easy!
  • #1,489
  • Nov 15, 2006 10:06pm Nov 15, 2006 10:06pm
Hehhehehe..
Unbelievable... but everthng depend on the news today.


Quoting AhmedFouad
Your strategy is so compatible with mine. Unbelieveable.

I was just setting limit 1.8900, tp 1.8780.
"Invest With The Insiders, Not The Masses" George Muzea
  • #1,490
  • Nov 15, 2006 10:09pm Nov 15, 2006 10:09pm
Yes, I hope it will be an excuse to sell GBP and that It won't reverse the swing setup completely.
Forex is not easy!
  • #1,491
  • Nov 16, 2006 4:34am Nov 16, 2006 4:34am
Sold 1.8880, Stoploss on a clearance of 1.89.


I still see a scope for 1.8834/36 low breakout in line with the daily swing signal. do not know what everyone else thinks about it right now.
Forex is not easy!
  • #1,492
  • Nov 16, 2006 4:42am Nov 16, 2006 4:42am
if you don't mind can you post your daily chart?
"Invest With The Insiders, Not The Masses" George Muzea
  • #1,493
  • Nov 16, 2006 5:50am Nov 16, 2006 5:50am
MA crossover with RSI agreement on daily.
Entry 1.8887 today open, a bit late for the bearish move but should swing lower over next week.

A break of 1.8836 low is actually approaching sooner or later this week.
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Forex is not easy!
  • #1,494
  • Nov 16, 2006 5:57am Nov 16, 2006 5:57am
I have a feeling that gbp/usd will reverse. Why, because 4hr chart the price break the channel. Any suggestion?
"Invest With The Insiders, Not The Masses" George Muzea
  • #1,495
  • Nov 16, 2006 5:58am Nov 16, 2006 5:58am
and also if you use mouteki method, the price already break demand line.
"Invest With The Insiders, Not The Masses" George Muzea
  • #1,496
  • Nov 16, 2006 6:02am Nov 16, 2006 6:02am
Quoting Qu|cksilver
and also if you use mouteki method, the price already break demand line.
well good. That just means the chances of it going higher now are very slim..

Time to sell.
  • #1,497
  • Nov 16, 2006 6:14am Nov 16, 2006 6:14am
Quoting Qu|cksilver
and also if you use mouteki method, the price already break demand line.
when using the mouteki method..u drawing these lines manually or automated? if manually then once drawn would you re-draw if a trade is not triggered and a new trend line is there?
M$M
  • #1,498
  • Nov 16, 2006 6:21am Nov 16, 2006 6:21am
i draw it manually. Yes after i re-draw i can see new trendline there. Thanks



Quoting Million$Man
when using the mouteki method..u drawing these lines manually or automated? if manually then once drawn would you re-draw if a trade is not triggered and a new trend line is there?
M$M
"Invest With The Insiders, Not The Masses" George Muzea
  • #1,499
  • Nov 16, 2006 6:36am Nov 16, 2006 6:36am
A lot of news releases, I am shocked.
It might reverse only above 1.8900 breakout..its still in mid-range. lets be cautious from now on.
Forex is not easy!
  • #1,500
  • Nov 22, 2006 1:02pm Nov 22, 2006 1:02pm
While evaluating and back testing systems is important, nothing compares to acutal results. I joined the Forex Factory this morning and I am stunned at all the great ideas. This is a fantastic forum.

I will post my actual trading results as threads based upon the system that I detailed this morning.

The current long GBP/USD position was entered on 17 Nov 06 at 0930.

Tkimble
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