Attachments: GBP/USD outlook

GBP/USD outlook

#81
May 24, 2012 2:33pm May 24, 2012 2:33pm

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Quoting Ill-b-back

Disliked

The overall price pattern still looks bearish to me

Ignored

Whew

Attached Image (click to enlarge)

Click to Enlarge

Name: christmas trade74gif.gif
Size: 13 KB

Come with me if you want to live....

#82
May 24, 2012 3:08pm May 24, 2012 3:08pm

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Ok, daily close below resistance.
4hr looks bearish at the moment

Attached Image(s) (click to enlarge)

Click to Enlarge

Name: christmas trade74gif.gif
Size: 17 KB

Click to Enlarge

Name: christmas trade75gif.gif
Size: 14 KB

Come with me if you want to live....

#83
May 24, 2012 4:56pm May 24, 2012 4:56pm

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

The Pound must be getting a complex with all this rejection it's getting

Come with me if you want to live....

#84
May 25, 2012 1:21am May 25, 2012 1:21am

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

4hr chart shows recent resistance and my Trendlines. It is holding for now with good confluence.
On the 1 hr chart, I have outlined support that I am looking for a 1 hr candle to close below if and when there is rejection by the 4 hr resistance.

If no one can help my longs, then God help my shorts
LOL...

Attached Image(s) (click to enlarge)

Click to Enlarge

Name: christmas trade75gif.gif
Size: 15 KB

Click to Enlarge

Name: christmas trade76gif.gif
Size: 15 KB

Come with me if you want to live....

#85
May 25, 2012 3:52am May 25, 2012 3:52am

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Out of all of my shorts except the 2nd hedge.
Now I can sleep well tonight.
Goodnight

Come with me if you want to live....

#86
May 25, 2012 4:33am May 25, 2012 4:33am

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Couldn't resist it.
Pierced 4hr TL, put in a small buy towards pivot support at 5747 and retest of previously broken TL
TP 5740

Attached Image (click to enlarge)

Click to Enlarge

Name: christmas trade76gif.gif
Size: 16 KB

Come with me if you want to live....

#87
May 25, 2012 5:34am May 25, 2012 5:34am

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Out of long, too impatient wait for candle to close.
A longer term bearish perspective??

Uh oh...

Attached Image (click to enlarge)

Click to Enlarge

Name: christmas trade76gif.gif
Size: 18 KB

Come with me if you want to live....

#88
May 25, 2012 6:44am May 25, 2012 6:44am

_BBKing_
Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts

hello!
well done wit your journal!
this will give you a great view about your profits, losses, trades, charting etc!
you will only need, from time to time, to find the time to read your old posts

good luck

90% of traders use TA, indicators and prediction

#89
May 25, 2012 3:19pm May 25, 2012 3:19pm

Rasi
| Joined Feb 2011 | Status: Trader | 169 Posts

Quoting Ill-b-back

Disliked

Out of long, too impatient wait for candle to close.
A longer term bearish perspective??

Uh oh...

Ignored

Hi IBB,

I am still bearish on the pair mainly due to what is going on in the euroland. I think no one will even attempt a solution until the Greek election results are known next month. Also we have a bank holiday in the US on Monday and extended public holidays in UK the following week (Queen's diamond jubilee). So thin markets are ahead in the next two weeks. Here is my thinking on cable.

Have a nice week end.

Attached Image (click to enlarge)

Click to Enlarge

Name: GBPUSDWeekly 2805.png
Size: 54 KB

#90
May 25, 2012 4:41pm May 25, 2012 4:41pm

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Quoting _BBKing_

Disliked

hello!
well done wit your journal!
this will give you a great view about your profits, losses, trades, charting etc!
you will only need, from time to time, to find the time to read your old posts

good luck

Ignored

Thx BB, yes it's a great place to put thoughts down and work on things. Should have done it sooner.
Have a great weekend

Come with me if you want to live....

#91
May 25, 2012 4:43pm May 25, 2012 4:43pm

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Quoting Rasi

Disliked

Hi IBB,

I am still bearish on the pair mainly due to what is going on in the euroland. I think no one will even attempt a solution until the Greek election results are known next month. Also we have a bank holiday in the US on Monday and extended public holidays in UK the following week (Queen's diamond jubilee). So thin markets are ahead in the next two weeks. Here is my thinking on cable.

Have a nice week end.

Ignored

Yeah me too Rasi, I was thinking same area, but am watching 56 very closely, there is a lot of resistance turned support there from all that daily choppy action in Dec last year.
Have a great weekend mate

Come with me if you want to live....

#92
May 27, 2012 3:53pm May 27, 2012 3:53pm

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

We are sitting about 50 pips above my Monthly mid pivot support at 5625, which also represents very strong pivot support on every timeframe from the weekly down. We had 2 clear weekly bullish closes above the weekly 200SMA after it acted as brief resistance.
This is NFP week and anything can happen. Waiting to see this months close for market direction. Which move is the actual retrace? We'll find out one way or another.

Come with me if you want to live....

#93
May 27, 2012 4:27pm May 27, 2012 4:27pm

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Just finished watching the "Inside Job" on the weekend about how the Crash happened. The mofos selling their shitty loans(as safe loans) to investors for a profit, then betting against those loans. The more their investors lost on loan defaults, the more these pricks who were selling them made. When they ran out of bullshit loans to sell and bet against, they just made more of them through predatory lending. These dogshit slugs now hold Washington posts advising Obama. No wonder nothing is being done. Thank God I don't live there, I'm quite sure I'd shoot someone(s) without remorse. I'd miss my family greatly.

Come with me if you want to live....

#94
May 28, 2012 3:15am May 28, 2012 3:15am

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Taking some time out this week to test a momentum PA system on the 15 min timeframe. I need more action. Waiting for this months closing price

Come with me if you want to live....

#95
May 28, 2012 4:12pm May 28, 2012 4:12pm

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

I hate putting up my chart as those longs suck big time.
Talking of Big, thats quite a bullish Divergence on the daily.

I'm watching for a fake move down to 56 then a move back to 63 and beyond

..........

Attached Image (click to enlarge)

Come with me if you want to live....

#96
May 28, 2012 7:42pm May 28, 2012 7:42pm

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

#%*^ing rain

Come with me if you want to live....

#97
May 28, 2012 9:24pm May 28, 2012 9:24pm

Faller
Joined Aug 2010 | Status: Trader | 3,185 Posts

Just scanned through the journal....very nice. Keep it up.....we may have a new GBP thread!

Faller.

I don't trust any move - when you have profit...take it.

#98
May 29, 2012 4:01am May 29, 2012 4:01am

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Quoting Faller

Disliked

Just scanned through the journal....very nice. Keep it up.....we may have a new GBP thread!

Faller.

Ignored

Hey Bro, just got home, pleasant surprise to see you here

If this 6424 goes, I think 5503 is on the cards given the steepness of that descending TL.

Attached Image(s) (click to enlarge)

Click to Enlarge

Name: christmas trade77gif.gif
Size: 27 KB

Click to Enlarge

Name: christmas trade76gif.gif
Size: 25 KB

Come with me if you want to live....

#99
May 29, 2012 5:25am May 29, 2012 5:25am

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Ok, after a Monday shake out above the 4hr pivot at 5686 (shown by vertical line), We have temporarily pushed above it again finishing with a pin bar below the pivot.
We are now pushing lower in what maybe a shake out again.

I am looking to develop a set and forget daytrading method by looking at price, support and resistance and taking advantage of higher volume NY moves while I sleep.

I am setting a pending long trade just above 5694 which is a historical candle reaction price from last week and yesterday. I will be targetting the next pivot at 5747 (make it 5740), SL below swing low.
Ignore the short, that is an old hedged position.
Let's see what NY brings.

Attached Image (click to enlarge)

Come with me if you want to live....

#100
May 29, 2012 6:02pm May 29, 2012 6:02pm

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

buy stop not triggered but have broken the low. I actually set a sell stop below the 5625 pivot but should have put it higher up just beneath support shown.
Anyway, strong bearish candle from NY, and am looking for the next TL around 5505 area for target this week. yestersays outlined descending channel very much in tact

Attached Image(s) (click to enlarge)

Click to Enlarge

Name: christmas trade77gif.gif
Size: 21 KB

Come with me if you want to live....

0 traders viewing now

Options

Similar Threads

GBP/USD outlook