Obeewon on the Pound

looks like t/p will be 9380-9390 area for trade #11

just put on a 15 pip trailling stop... want to grab some breakfast but i still like the t/p posted earlier just put trailing stop b/c i am stepping away so far @ +55 which looks like it may stop out.. its ok ilook for anothe opp

later

trade # 11 s @ 9518 closed @ 9463 profit + 55 pips

well trade # 11 was stopped out for that +55 that i posted earlier( 15 min after i posted)

to be honest i did not expect that trade to develop so quickly... i saw something on the 15min chart that i felt good about and then all of a sudden it was in the money 50+ so that was unexpected. i still like the targets that i posted earlier of 9380-9400 with a final target of 9330 and maybe more. but now we must let time reveil more of the picture...

will be back @ 5 am to take another look

nice.

i am going short @ 9513... this is agressive if i were conservative i would wait until a close below 9480-9470.. let see what happens

close trade @ 9500 for profit if +15 pips

there is some diver on the 5 min chart that is building to the upside so i will stand aside and wait for another short entry.....

later

recap trade #12 s @ 9513 close @ 9500 profit + 15

FEB Totals: 68 pips
YTD Totals: 68 pips

going to post thoughts shortly

GU move is still up in the air and do not see a direction yet

every now and then i will post a chart to better explain what i see... lets look @ the daily

as u can see price is trapped between the green ma(21) and the red ma(62)
what i think may happen are two things: the most likely to me is 1) GU will make a push for the green(21)ma which is currently @ 9573 and either penetrate it or will run into resistance. if it penetrates it, depending on how deep the penetration is, i think GU could go as high as 9815 or higher. if it runs into resistance than we will most likely see the pound retrace back down to the red (62) currently @ approx 9488.... or

2) GU could head to the red (62)ma and either penetrate it or find support and make its way back up to the green (21) ma.. if the price goes thru the red(62) ma then the first t/p would be the blue (89) ma which is currently @ apprx 9394 at least with final t/p @ 9280 as of right now. these ma rise/fall every day so t/p can change but around that area.. i will wait for a close on either sanerio before i place a trade unless i see something on a smaller time frame but this is my overall view... sooooo... relax and watch the show

not to much to say about this pair... i have just been focusing on the daily chart b/c most of the other time frames are showing flat ma with no type of direction.. GU on the daily is still trapped between the 21 and 62 ma... i would look for a test again of the 9488-9492 area which has held as support for the last couple of days now.. also look for a push up to the 9570-9585 area... buy support sell resistance may be the strategy for now for aggressive traders. i am still on the side lines for this one tho until i get a better confirmation on the daily chart...

ps with no action (for me) on the GU i was bored and started looking at ohter pairs. i see a oppurtunity to short on the franc 15 min chart. there is a diver build to the down side.. check it out

might be the start of a move down.. what do u think? maybe a test of blue trend line before going down, just dont know yet...

still waiting for directional close on daily...on 1h look for a fall to 9500-9470 area again which is bottom of channel.. may fall futher...

trade # 13 long @ 9613 s/l : 9575 t/p 9683 then 9731

trade 13 is long @ 9613.... i have put a trailing stop loss currently @ 9637 protecting 24 pips of profit... if i get stopped out i will look for another entry to go long...

stopeed out @9637 for a +24 pip gain... i have a buy limit @9611 will wait for price to come to me before re-entering

after trade 13 i did not trade GU b/c of its jerky movement for that week. my buy limit @9611 never triggered ( for some reason) and i removed it and just watched.

Feb Totals: 107 pips
YTD Totals: 107 pips

will be back later to talk about GU

trade #14 s @ 9350 s/l 9397 t/p 9245

in this trade i am waiting for price to come to my entry first before another move downward. there is an oppurtunity to buy here and ride up to my entry but i dont want to be on wrong sidde of trend so i will wait .. still studying charts to understand longer term targets..... i will post more later

trade #15 b @ 9266 s/l 9235 t/p 9340

this is a short term cover up to my short positon.. there is some risk in going against the trend but i have a feeling that GU will move up to this area before it makes its way down... will be watching this closely...

trade #15 b @ 9266 closed @ 9326 +60 pips.. first i had a typo in last post my s/l was not 9235 but 9225 sorry about that mistake did not proof read. i closed this trade out b/c it is in a resistance area and is about 15 pips away from t/p ( not going to wrestle for 15 pips) i will now wait for price to move to my short position.. still looks like we could go down some more...

MAR Totals: +60
YTD Totals: +167

trade # 14 just triggerd s@ 9350 s/l 9415 t/p 9245 will be back around 5am

later

i am still short on the GU in short term.... GU visited 9265 approx before bounceing back up. right now we are @ 9330 and hovering. i would look for price to drop to about 9300 even then we may see another bounce back up to were my long was established @ 9350.. around this area we may see some buyers move in to push price as high as 9386-9397 area before we move back down to t/p of 9245-9255 area to which imo i think this area will hold any further move down.. if we break below the 9186 most recent low than look for further declines.. my strategy now will be to put a buy limit @ 9294 ( which if triggered will be trade #16) and look for the up move to 9350-9397 t/p..
so to recap... still in trade # 14 and potential #16 trade (if triggered) will be long @ 9294 s/l 9260 t/p 9350-9397 (tight stop if i am wrong)

will be back around 5am est

peace