SterlingDollar

Friday Long Sterling Dollar target is 6680/90 area. Stop is just under 6450. Target should be met US session sometime. Tomorrow morning if possible Buy around 6550 with stop at Aisa Bottom. Cable should progress to 6680/6700 area.


GBPUSD - Long - Correct Long Trade

Aisa should drop to 6400 Level or around there
Early Europe should pick up from here to challenge the 6550 level
My Trade is long at 6400 (Early European Session) target 6550 (Mid US Session)

GBPUSD - Short

If this scenario does not apply early europe then the target for shorts is 6310. With GBP Retail news out 930am i dont believe this will apply.

Hey Boss, is this a trading journal or a discussion about GBP/USD?

Try the following link http://www.forexfactory.com/showthread.php?t=10378

Best Of Luck

Z

Tomorrow Morning Europe

Scenario 1: 6540 area is strong resistance - This area has held 3 times inside the last week. Tomorrow could see a fall from here. Watch 5 MINS parabolic chart. Follow it south with stop if met.

Scenario 2: Above here and 6585 is the last high. If 6600 is seen then a new high has been formed which could see the bears come back in and sell cable. Trading waiting for point of resistance to be met to sell. 100 pips off the most recent known high at 6585.

Scenario 3: Short above 6485 resistance targeting 6360 and the retrace area is 6315. Try follow the 5 mins parabolic for guidance on entry points and stop.





Trade Cancelled---------------

Am currently short from 6450 looking to hit next support at 6365.

It is now likely support area at 6320 will be hit on Monday before a further rise up to 6450/6500.

Scenario 1 = A break of Aisa support will bring us down to 6320 low maybe rebound here to 6450/6500 area. Aisa support could be 6360?

Scenario 2 = A break above Aisa resistance will bring us to test the 6500 level again. Aisa resistance could be 6400?

Scenario 3 = Retracement area is around 6300/15 of Friday's Daily Candle. Use 5 mins Parabolic indicator to buy here tomorrow if seen.

I am with you bro and it seems like Scenario 1 might happen on this Sunday as exactly Scenario 2 happened on last Sunday and this time the chances of Scenario 1 is too high because of very low GDP and before the US begin there would be plenty of time for Cable to easity visit 1.6320 area....

I am planning to have a position after the market opens tomorrow around 1.6430 area to aim for 1.6360 and then I am planning to have a buy order @ 1.6325 area for Monday morning and see what happens next....

Thanks,
Alqaz Syed.

Correct Trade - Expect Bearish from this point this week. Next retracement area is 6380. Watch this level for a bullish reaction and buy with indicators supportive for 50/60 pips.

Resistance should be found at 6550 area or 6585/00 area today back down 100/120 pips from high of the day. Watch for break of 5 min parabolic upward curve and trade lower with 20 pips stop.

Possible Trade:

A new high around the 6540 level today should bring in fresh bout of selling. Watch 5 Min MACD at this level for buying pressure to fall and use the parabolic indicator for stops and target 100 pips from this area. Possibly leave trade run into tomorows sessions. Market has failed 3 times to break this level in the last week.


Tomorrow Morning Europe

Scenario 1: 6540 area is strong resistance - This area has held 3 times inside the last week. Tomorrow could see a fall from here. Watch 5 MINS parabolic chart. Follow it south with stop if met.

Scenario 2: Above here and 6585 is the last high. If 6600 is seen then a new high has been formed which could see the bears come back in and sell cable. Trading waiting for point of resistance to be met to sell. 100 pips off the most recent known high at 6585.

Scenario 3: Short above 6485 resistance targeting 6360 and the retrace area is 6315. Try follow the 5 mins parabolic for guidance on entry points and stop.

As the day unfolds: Ideas for trades:

**Tomorrow a top area of 6520? Watch for a retracement.

**Other top area to consider is 6480? Watch for a retracement.

**Bottom area is 6310/20 - Possible buy here for 80 pips. Watch parabolic 5 min chart.

Correct Trade - Expect Bearish from this point this week. Next retracement area is 6380. Watch this level for a bullish reaction and buy with indicators supportive for 50/60 pips.

Correct Trade - **Resistance should be found at 6550 area or 6585/00 area today back down 100/120 pips from high of the day. Watch for break of 5 min parabolic upward curve and trade lower with 20 pips stop.

Possible Trade:

A new high around the 6540 level today should bring in fresh bout of selling. Watch 5 Min MACD at this level for buying pressure to fall and use the parabolic indicator for stops and target 100 pips from this area. Possibly leave trade run into tomorows sessions. Market has failed 3 times to break this level in the last week.


Tomorrow Morning Europe

Scenario 1: 6540 area is strong resistance - This area has held 3 times inside the last week. Tomorrow could see a fall from here. Watch 5 MINS parabolic chart. Follow it south with stop if met.

Scenario 2: Above here and 6585 is the last high. If 6600 is seen then a new high has been formed which could see the bears come back in and sell cable. Trading waiting for point of resistance to be met to sell. 100 pips off the most recent known high at 6585.

Scenario 3: Short above 6485 resistance targeting 6360 and the retrace area is 6315. Try follow the 5 mins parabolic for guidance on entry points and stop.

1. Nearest Support is 6587:A bounce from 6600 will lead to a move back up to 16800 level. This is a 200 pips trade. Eithir way Monday leading into Tues and Wed is going to bring bullish movement possibly up to 17000 level again. My analysis is base on Monday early and head up towards 16800 possible 17000 by Tuesday 8pm. There is still some negative movement down to 6600/6575 left in cable but from there i expect to see upward momentum towards 6800. Im trading 6590 long 50 stop target 6800. See what happens i guess.

1. Failure to break above 6700 target 6400 short at 6600,50 to 75 stop.
2. BOE Tuesday so rather sizable movement expected there. I will add to this monday evening. Trade Well.
3. Euro/Dollar - I expect upward movement trade early this week from 4200 target 4350 - Early news monday from there i guess target 4350.