Cable Update (GBPUSD)

Cheers, many thanks -

always a short?

if we had the opposite of fridays big bull move you still go short?

or is the stratergy to take the opposite of the general friday trend?

Hello Jack
what u say GBP/USD reached there where i want it

Directionless - This is a ranging side winder. ( I like to compare price action to tornadoes)

These hourly candles seem to suggest she wants to pull back up, but dosnt have the steam at the mo.

Gonna have to wait and see eh

Agree...I feel she'll drop a bit. Capture some profits today!

i will go short now at 1.5090

doesnt it trouble you that its at 50% of the recent swing? seems like a bad place for shorting u know

Why?

my target is 1.5055

I have found, just as an observation that Every Friday, there is always a RUN up before closing. I always take a SELL, yes, never a BUY. On Monday's, there is always a run down, don't know why but always happens. Usually in Asian Session but today it was dead in Asian session and then came down in EU and Lon Session.

anyone is going short now ??or waiting ??what will be next entry for short?


Ub

What's the price over that 78.6% fibs daily last move down....
Hum! I see 1.5240.... postes more then a week ago...

anyway, good trade all!

Understanding something that's not regular is hard since you can't use strike logic.

Most of the time one session will:
-correct last one
-continue last one
-range whitout direction waiting for the next one, an event or a news...

Nothing magic i know, but well, that's what it is.
Think about: on witch side is the easy money is, whitout commits yourself out of the last know range ( approx 1h chart/15 min chart).
That work more on ranging days then trending.

Like now, easy money is on the upside... zeroing the peeps holding profit from 1.52XX... its only a guess

Wish you luck!

Friday's generalised US Dollar weakness caused many currency pairs to benefit as a result and the dollars to pounds pair was one of these ending the day on a wide spread up-bar and providing a bullish signal on several levels. Firstly the close of the day ended well above the established resistance in the 1.51 region suggesting that we are now likely to see a sustained break out possibly moving as high as 1.57, a price last seen towards the end of 2008. Secondly, the up candle engulfed Thursday's down-bar suggesting once again a positive tone, and finally the low of Friday bounced neatly off the 9 day moving average indicating strength in the move once again. With little fundamental news on the economic calendar for today either in the UK or the US we will have to wait until tomorrow when the stream of news picks up starting with manufacturing production in the UK and trade balance figures in the US followed in the middle of the week with a speech from BOE (Bank of England) Governor King and their inflation report which I will cover in more detail as we move forward. My trading suggestion for today is now to look for longer term trending opportunities buying into the market on any short term inter-day reversals of which this morning has already provided some interesting opportunities, with an initial target of 1.55, and if we move above this build further positions looking to target 1.57.

From FXStreet

thx for info, plz provide source


GBP/USD: Trading the Change in U.K. Jobless Claims
http://www.dailyfx.com/story/trading...041463414.html

Sometimes i'm wrong, sometimes i'm right....

Lesson 1 ... Dont sell after a drop in price!

I'd hope so! I was short overnight from 5237 and was stopped overnight for +15 on a spike ... Damn institutions causing spikes to take out stop to get their orders filled.

I see a nice opportunity to short if we dont get back above 5150.

Short off 5150 .. prior resistance, monthly R1 pivot (5156), 38.2/50% retracements from the top.

This is if 5150 turns into resistance since it was once support.

fellas pls what profit are you guys targeting ???anyone