GBP/USD outlook

Long, with 2 target areas.

I can't believe I am trading a 15 min chart

Closed half of my sell position for 130 pips, now for the juggling act...

Closed my small Euro short -10, don't really like trading the Euro, will try to stick to cable

Yeah nice one IBB

Stick to the 4hr chart ya bozo...

2nd half of 1.6007 sell still running...

Hi IBB

Glad to see you and find one more trader using MACD
I do with MA and BB.

Pls. post often with charts

Is G/U the only pair you trade?

My G/U is a free trade.
Wonder will it be a "M" pattern to 1.550 ?

Happy Pipping!

Hi Msia, welcome to my thread

Well done on the nice short , I am looking to see if the same pattern emerges also.

Yes I try to just stick to GU, it's all I can handle to be honest. I look for longer term position trades to suit my method and lifestyle, I don't often take day trades unless off swing points in line with my higher Tf outlook.

I use macd just as a visual divergence tool for something to do, Imainly rely on S/R and trendlines.

I'm currently hedging my short with a long at daily/weekly support and 50 fib from Junes low.

I don't have a great deal of confidence in it but just taking the signals as they arrive.

If Fridays low is taken out, my 1.6007 short will follow thru I think and I'm watching 1.57.

Monthly fibs now lining up precisely with monthly support levels, I like this.

In the back of my mind I would like to see the 50 fib at 1.4940-50 longer term, but for now, will just play the swings as they arrive.

Hope you have a great pipping week also Msia

looking out for a retest of the broken red weekly channel.

Good fib retracement/fib extension confluence ar 4950 area.

looking for reactions at 57 and 5480 areas also

USDCHF looks like a very good set up off support for today or next week...

And nice bullish divergence :nerd:

Red extension looks very good

GBPNZD has some good promise also off 8634 support.

Looking to see if we can get down there to meet my lines before breaking north.

Daily still bearish...

And a possible target at the top of the current weekly trading range

Could be contained around 3485

Approaching a critical point on the Euro on the weekly and monthly around 1.35xx

Be careful bulls

In fact the Euro seems to be approaching the same bearish set up that sent Cable plummeting 600 pips about 3-4 weeks ago :nerd:

Pound fell to a new low against the USD and slowed down just 5 pips from 1.5750 projected level, highlighted yesterday. Notice that pair now has five waves down from 1.6180 which is the first evidence of a coming bounce, especially if we respect the bullish divergence on the RSI. Larger pull-back however could prove corrective and may stop at 1.5900 swing level that will may react as a resistance.

Hi ewforcast, thx for that insight

I'll see what my chart looks like beginning of the week.
Right now it's telling me down but wait and see.

Cheers.

I hate Gillard and virtually everything she does.

Ever wonder why she talks so s-l-o-w-e-l-y??

It's so the retards who voted for her can follow what she is saying:

A SUMMARY OF SERIOUS STUPIDITY:

> (1) Admission that political advisers to the government have botched
> decisions resulting in a cost something in the order of $20 billion.
>
> (2) Boat refugees that have chosen to skip Nauru and go home again given
> $3000 each by the government as "compensation".
>
> (3) The pursuit of a temporary seat for Oz on the UN Security Council has,
> to date, cost a reported $40 million.
>
> (4) 1000 new cotton/rice farms have been permitted to open in the Eastern
> States during the last 12 months.
>
> (5) A revenue shortfall tipped this year of $25 billion whilst the
> country's borrowings exceeds $240 billion and continues to rise.
>
> (6) Gillard announces a $6.5 billion School Education Funding plan but is
> unable to say how it will be funded
>
> (7) Dental care plan for children announced by Plibersek at a cost of $2
> billion but she can't say how it will be funded either.
>
> (8) The price of "spin doctors" presently employed by the Federal Labor
> Government now costing $150 million a year
>
> (9) Public service employees given a bonus of $1000 to "head off
> industrial unrest" at a total cost of $33 million.
>
> (10) $320 million was promised by Gillard at the Pacific Forum
> Conferenceto help increase the number of female politicians in the Pacific.
>
> (11) The Treasurer suggested planning to further tax the nation's $1.4
> trillion superannuation funds in an attempt to balance his 2013 budget.
>
> (12) Australian Funding for Indonesia - 2012/13 - $578.4 million.
>
> (13) National Broadband Network way behind schedule and blown out by another
> $1 billion - total cost of the project - $43 billion Expert opinion is
> that this cable system will be outdated long before it is finished being
> replaced by wireless broadband.
>
> (14) Failed Pink Batts Insulation Scheme - Cost $3.45 billion plus $424
> million extra to repair the mess left by Minister Garret's inefficiency.
>
> (15) An audit has revealed that the $540 million government scheme to boost
> literacy and numeracy in schools has totally failed.
>
> (16) An enquiry has revealed that the $16.2 billion "Building the Education
> Revolution"(BER) programme (administered personally by Gillard) has totally
> failed. A number of schools destined for closure & demolition in the near
> future had new buildings erected during the scheme.
>
> (17) A headline from Adelaide 's "The Advertiser" in 2009 "OUR FUTURE
> MARKED BY RISING RIVERS OF RED INK"
> (18) The cost of recording the first round of Carbon Tax commercials was
> $350,000 followed by $340,000 for the second round. That's $690,000 before
> buying any airtime. Estimates also heard that the Government is planning
> another round of advertising to sell the Carbon Tax Labor promised not to
> introduce. And in anticipation of that, the creative advertising agency
> involved has had its contract increased by 50% to $3 million.
>
> (19) A planned National Disability Insurance Scheme . $10 billion -
> promised but unfunded.
>
> (20) Planned Child Care Subsidies .. $1.4 billion - promised but unfunded.
>
> (21) The Immigration Department revealed that about $2 million has been
> spent flying 260 asylum seekers from Christmas Island to Nauru - averaging
> more than $7,600 per asylum seeker
>
> (22) Nineteen lawyers worked on the Government's defence of the
> Slipper/Ashby case at a cost of $780,000 to date.
>
> (23) A portrait of Peter Slipper in his "Speaker's Robes" destined to hang
> in the halls of Parliament has been commissioned at a cost of $30,000.
>
> (24) Bureaucratic Excesses: The Department of Agriculture, Fisheries &
> Forestry spent $21,000 on a single dinner. The Department of Industry spent
> $75,000 on just five coffee machines.
>
> (25) Fair Work Australia has so far spent more than $1.8 million on external
> legal and accounting advice for its investigation into the rorting of Health
> Services Union funds.
>
> (26) $79,700 was spent building three fake kitchens for the Government's
> Carbon Tax advertising campaigns. Using real kitchens would have cost
> $5,000 a day.
>
> (27) More than 10,000 asylum seekers arrived by boat so far this year - five
> times as many as Wayne Swan estimated when framing his Budget. The budget
> estimate of $1.1 billion was based on an average of 450 arrivals per month
> but actual arrivals are running at 5 times more on an average of 2,400 per
> month.
>
> (28) While departmental officials refused to be drawn on the cost of the
> Budget blow-out we do know that in 2011/12 every boat that arrived cost
> taxpayers $12.8 million, or more than $172,700 for every person on board.
>
> (29) The present Social Security and Welfare Budget for 12 months is, in
> round figures, $131 Billion. Assuming that there are 3 million Australians
> eligible for this that equates to $43,885 per person per annum. The current
> age pension is $15,132 per person per annum so the question remains - where
> does the other $28,753 go? Surely not administration?
>
> Meanwhile Gillard has vehemently stated her opposition to pension increases
> for non-Labor voting pensioners. ("Sieg Heil Comrade mate?")
>
> (30) Gillard announced a whitepaper - "The Asian Century" - where Asian
> languages will be taught in all Australian schools for us to "better
> communicate with our Asian neighbours". The cost will be $6 billion which
> is, again, unfunded whilst an implementation strategy has yet to be formed.
> Fact: As there are many Asian languages and dialects most Asian business
> transactions are presently conducted in English.
>
> (31) Gillard announces her "Plan to Save the Murray". Quote: "We can
> deliver the extra water by investing $1.8 billion in infrastructure, water
> efficiency and fixing constraints like raising low bridges so more water can
> flow."Unquote.
>
> Raising bridges so more water can flow ???? Can somebody tell the fool that
> bridges, no matter how high or low, do not normally restrict water flow?)
>
> (32) Water Fact 1: Gillard has "found" 450 billion litres of water at a
> cost of $1.8 billion to "Save the Murray".
>
> Water Fact 2: Cubby Station is licensed to take 460 megalitres a year from
> the river. 460 megalitres = 460 billion litres so, by closing Cubby Station
> the problem is solved & $1.8 billion is saved. Where do we send our
> account?
>
> (33) Further Fabulous Failures:
>
> (a) Grocery Watch
>
> (b) Fuel Watch.
>
> (c) $1 billion Cash for Clunkers failure.
>
> (d) 450 GP Super Clinics promised .. Only 3 delivered.
>
> (e) $2.1 billion promise of a "Laptop for every child".
>
> (f) $275 million "Green Loans" debacle.
>
> (g) $534 million Solar Panel Rebate suddenly withdrawn.
>
> (h) Promise to build 222 Child Care centres - abandoned.
>
> (34) $38.5 million spent for a pro-mining tax advertising campaign.
>
> (35) The gross Australian Federal Debt as at August 31st2012was
> A$244,325,881,000. ($244.3 billion) and continues to grow
>
> at $100 million a day.(That's two hundred & forty four billion, three
> hundred & twenty five million, eight hundred & eighty one thousand dollars!)
>
> (36) A random quote from "The Punch". Headline quote: "Gillard & Swan
> are Failures, Not Leaders." Quote from the text: "Mr.Swan has undermined
> Australia 's international standings and jeopardised our economy. He should
> have been sent to the back bench, not made Treasurer & Deputy Prime
> Minister." unquote.
>
> (37) And we won't even mention the 3 or 4 year "protection" given to Craig
> Thomson by Gillard ...Thomson being the Health Services Union man who, by
> his statement, "had his credit card stolen" by "someone unknown" to "pay for
> prostitutes" and then "put back in his wallet again" several times in
> fact!!
>
> AND FINALLY, AN OBSERVATION! Her behaviour demonstrates that she knows
> that she is going to get tossed out at the next election so is making as
> many "promises" as possible to throw back at Abbott from the opposition
> benches. You can hear it now, "If you hadn't dismissed
> us from government you would have had a Child Care subsidy scheme now (or a
> Dental Plan or a School Education Funding plan etc.etc.etc.
> whine,whine" ...
>
> That's if the unions don't do a "Rudd" on her too!
>
> Why we pay these retarded morons from all parties, huge salaries,
> impossible pensions, top-drawer conditions, free everything, to destroy this
> magnificent country ???????

Look out folks

Can't say I'm surprised at all, not one bit...

http://finance.uncommonwisdomdaily.c...MAM&ec=5452103

Any chance you can post your chart for ease understanding
(English is not my main lang)

Hi IBB

For the moment, a waiting game if to go long on GU?
M30 shown a PB followed by a large bull candle, a potential long sign.
H4 shown a possible divergence.
D showing the confluence line.

Imho, maybe to wait for 1 - 2 more days to see if a long could be materialized for the short term?

Cheers

Hi guys

Looking at the weekly and then the daily, we have retested support turned resistance at the 50 fib and to me it looks like it is heading towards 1.57

Looking to sell Rallies that reach resistance levels, with bearish 1hr PA for confirmation of entry.