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GBP/USD outlook

  • #341
  • Jul 4, 2012 5:08am Jul 4, 2012 5:08am
Couldn't help myself,
Tuesday was a total failure.
I'm back in, I think we are targetting 1.56 retest at that 200sma.
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  • #342
  • Jul 4, 2012 5:10am Jul 4, 2012 5:10am
Now back to the State of Origin Footy.
Go NSW
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  • #343
  • Jul 4, 2012 6:15am Jul 4, 2012 6:15am
Well, it's half time at the footy and NSW are behind, but at least the trade is going well.
I think that 38.2 fibo will go and head to the 61.8 fan and 50 fib retrace at 1.56
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  • #344
  • Jul 4, 2012 7:48am Jul 4, 2012 7:48am
I went "window" shopping and swiped some free pips
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  • #345
  • Jul 4, 2012 7:54am Jul 4, 2012 7:54am
Good confluence at the circle with the 38.2, and 61.8 fibs, TL's and support.
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  • #346
  • Jul 5, 2012 10:31pm Jul 5, 2012 10:31pm
It's good to have a few methods in your forex tool box. When 1 method is not clear, you can use the others to get another profitable perspective
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  • #347
  • Jul 8, 2012 6:49pm Jul 8, 2012 6:49pm
In long for a 5520 area retest today
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  • #348
  • Jul 9, 2012 4:57am Jul 9, 2012 4:57am
Out at 5495 for 17 pips.

Lots of resistance to get through, but she seems keen.

Will wait to see what tomorrow says.
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  • #349
  • Jul 9, 2012 6:20pm Jul 9, 2012 6:20pm
Looking for 5570 today.
Weekly chart shows why.
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  • #350
  • Jul 9, 2012 6:25pm Jul 9, 2012 6:25pm
Actually, daily shows it better
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  • #351
  • Jul 10, 2012 3:53am Jul 10, 2012 3:53am
All I'm looking for today, 1.5550
It's a ranging market, no need to be greedy yet.
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  • #352
  • Jul 10, 2012 4:49am Jul 10, 2012 4:49am
I'm with you since 5478
  • #353
  • Jul 10, 2012 7:59am Jul 10, 2012 7:59am
Out of longs for a small loss
It is starting to look bearish, but will wait to see what NY says.
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  • #354
  • Jul 10, 2012 5:21pm Jul 10, 2012 5:21pm
Todays price action shook a few pennys out of my pocket with a 25 pip loss after getting within 3 pips of my target.

Tuesday refused to break lower and a bullish head and shoulders on the 1hr chart looks like it maybe the next play.

Being a tech trader, this is my view.

1.5618 area is shared by the 50 fib retrace of Junes high and 61.8 retrace of Julys high (weekly chart) and would complete the bullish H&S move nicely.

Lets see how she plays out.....
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  • #355
  • Jul 10, 2012 6:18pm Jul 10, 2012 6:18pm
Over the weekend, I suggested in the cable thread that the price is likely to go down in the near term mainly due to the problems associated with the euro. However the price has moved sideways so far and it could go either way. So I am staying out

I have had better luck with GBPJPY since the start of the month and therefore concentrating on that pair more this week.
  • #356
  • Jul 10, 2012 6:31pm Jul 10, 2012 6:31pm
Quoting Rasi
Over the weekend, I suggested in the cable thread that the price is likely to go down in the near term mainly due to the problems associated with the euro. However the price has moved sideways so far and it could go either way. So I am staying out

I have had better luck with GBPJPY since the start of the month and therefore concentrating on that pair more this week.
I can understand that Rasi.
I guess in general terms, my take on the market is that "shake out Monday", just got moved to "shake out Tuesday".
I sense a move coming looking at all those tails.
Also a rough diamond in play it seems (thx MPT).
Well done on the GY
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  • #357
  • Jul 10, 2012 11:40pm Jul 10, 2012 11:40pm
Quoting Ill-b-back
Todays price action shook a few pennys out of my pocket with a 25 pip loss after getting within 3 pips of my target.

Tuesday refused to break lower and a bullish head and shoulders on the 1hr chart looks like it maybe the next play.

Being a tech trader, this is my view.

1.5618 area is shared by the 50 fib retrace of Junes high and 61.8 retrace of Julys high (weekly chart) and would complete the bullish H&S move nicely.

Lets see how she plays out.....
Have split the trade.
1st TP for today is just below the yellow 38.2 retrace.
Reason can be seen clearly on the weekly chart I think.
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  • #358
  • Jul 11, 2012 12:47am Jul 11, 2012 12:47am
Have adjusted TP on both trades to 5568.
I don't want to try and "force" price past those weekly closes right on the 38.2 retrace, not with the strong bearish weekly close we had last week.
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  • #359
  • Jul 11, 2012 4:21am Jul 11, 2012 4:21am
Quoting Ill-b-back
Have adjusted TP on both trades to 5568.
I don't want to try and "force" price past those weekly closes right on the 38.2 retrace, not with the strong bearish weekly close we had last week.

That will do for today.
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  • #360
  • Jul 11, 2012 7:36am Jul 11, 2012 7:36am
Target reach @5575 as masterplan
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