Quoting NardinoDislikedHere is the Line chart which I also use for analysis.Ignored
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Quoting NardinoDislikedHere is the 15min. chart level thus far.Ignored
Quoting NardinoDislikedSorry guys, I have been stopped out. Technical glitch put a wool over my eyes this morning. I could not react to the news which came at the 61.8% of the Fibonacci. And thus, the market did a 180% turn- around. Personally, it wasn't too bad. Thank God I had already adjusted my stop from 1.7250 to 7200 before my system frozed out. I entered at 1.7211. The news on UK Consumer Confidence report came at 1030hrs-GMT when the market was at critical point, 61.8 of today's high. The better than expected report (-6 vs -8) seem to have stave off further weakness in the GBP/USD pair. I only made 11pips.
For those who may have traded this pair please let me know how you did. Thank you.Ignored
Quoting NardinoDislikedFor those who may have traded this pair please let me know how you did. Thank you.Ignored
Quoting Th_WenzelDislikedHi Nardino,
I went short this morning for 14 pips profit.
Sell@ 1,7226 Stop@ 1,7260 TP@ 1,7212
Had no confidence to take more, thought this would be a little bounce off trendline.
confluence of signals: Pivot Point/ Old support, now resistance/ trendline break/ EMA cross/ 60 ema- resistance on 30 min chart
Now the pair is at old resistance again. Break?
ThomasIgnored
Quoting NardinoDislikedHi Wenzel, that was a very nice chart you got there. Looking at the pair at the moment the pair is still looking down the barrel. It appear to be holding at the 38.2 mark @1.7200/07. A break below these mark would see a retesting of the 1.7175. The possible BOE interest cut speculation in the New Year is weighing heavily on GBP at the moment. This is unlikely to go away soon.Ignored
Quoting Th_WenzelDislikedI copied my old channel down. Bottom of channel could be a nice profit target. 60 EMA on 15 min acted and acting as good resistance. Pair moving up now, fake?Ignored
Quoting GibbylaDislikedHi Benny
Good thread. I took pretty much same trade yesterday on cable but came out break even. Wasn't expecting the UK Consumer Confidence to have the effect it did on price.
I'm still of the same opinion of you that a possible retest of 1.7130 is on the cards. Don't know if it will be today though, maybe the US open will spark a bit of life into the market.
Could be a good day to sit on the sidelines, drink coffee and watch some heavily repeated christmas film..ho hum..
Cheers
IanIgnored
Quoting NardinoDislikedHi Ian. Sorry about my late response. Sometimes it's difficult to trade, blog and thread in the forum at the same times. Yeah you were right. On the day I didn't make much as well. I more or less stood on the sideline after I was stopped with 14pips gain. Sometimes it's better to do that than continue chasing the market. Hope you enjoyed your trades and thanks for you comments. For the first time I posted my trade of the new year on the blogsite.Ignored
Quoting GibbylaDislikedNo problems. It seems cable didn't quite make it, bottomed out @ 7164. Still, I managed to gather a few pips on a second break. Good result on your blog with the US/CHF, by the way. I had my eye on that pair last week - was looking very toppy on the hourly chart and had decent amount of divergence on RSI. It was just a matter of time before it took a nose-dive (guess the FOMC minutes gave it a decent push.!)
Is this the end of the dollar bull run? Not sure, it could be. I think fridays' NFP report is key and I'm expecting my charts to resemble the rocky mountains pre and post report.!
IanIgnored
Quoting NardinoDislikedHi Charles (Diallist),
It was on my blogspot I have made the initial offer. However, your interest is noted. If I can get as many as say twenty to thirty people with such hunger like you, why not? My strategy is easy and simple to implement. The important things I crave are discipline and commitment. With the discipline and the slightest commitment, you always win in forex because of market dynamics. Enuff of these preambles.
It would be a joyful thing for me to share with you.. This year have been very rewarding for me. Today was exceptionally great. I have only just prepared the chart for my blogspot. If you are whom I thought you are the better. I mean showing you the "Key" of the Kingdom would be a delight to me.
Out of interest, where's your location?
To everyone that has responded, I appreciate you all and your comments. Keep sharing your views please.
Happy Trading.Ignored
Quoting NardinoDislikedHello guys, sorry I was away since last week I posted. I feel I had let down Gibby because the last time you actually posted was when cable touched bottom @1.7164. Well, I back for good.
Hope your trading have been doing well.Ignored
Quoting GibbylaDislikedNot at all, hey we all have a life outside the trading arena (dont we.?!).
Anyway hope you caught that little run by cable this morning, break of the 1.7600 was good for a few pips. UK trade deficit helped. The UK really is a mixed bag right now, decent retail sales, crummy growth, house prices on the rise again, increasing trade deficit. The BOE MPC members must all be wearing wigs right now with all the hair pulling that will be going on deciding which way interest rates should go... We'll find out tomorrow..
Cheers
IanIgnored