Disliked...we should know that at the very least we need to be extra careful wanting to go in the direction of the swift movement for the simple reason that the bigger game in the market for now could be to drag price to a set of waiting orders (or an area of interest) rather than a breakout definitely.
g.Ignored
james16 Chart Thread
- #123,002
- Feb 3, 2013 12:00pm Feb 3, 2013 12:00pm
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .
- #123,004
- Feb 3, 2013 1:50pm Feb 3, 2013 1:50pm
Hey Meshka,
Where are you planning to put Stop loss on GBP pairs?
In the case of GBPAud there is a strong support at 1,5 BRN relatively close to the sell limit. Can I ask why are you planning to put your TP far beyond that to the distant weekly ppz?
Moreover IMO USDTRY also looks like very well.
Level of 1,75 BRN has just been broken. Waiting for retracement.
i will sell in brackets this gbpaud.. those will be not so big positions because of large stops...stops one part above BEOB, other somewhere above blue level. will try to sell at as high price as possible. 1.5050 and 1.5 BRN is levels where i will look closely, will reduce some risk there...and it will not hold, i promise lol
i am not setting TP just drawing my wish
believe if it will break down through those BRN we will be there in no time similar like gbpchf.
all is eternal - this is good news for people who loves bad news
- #123,007
- Feb 4, 2013 1:47am Feb 4, 2013 1:47am
guys, could anyone please tell me if i am doing this right? saw a DBHLC bouncing over confluence of
fib retrace of 23.6 and a strong resistance, prompted me to short the GBP USD pair.
What is the timeframe you are using? Refrain from using 4hr, 1hr and below if you are starting new here.
Am I seeing round no. before 23.6 (1.5700)? If yes, I will advise against shorting this pair. Most likely, it acts as support and bounce from here.
These are my views, amend me if I am wrong.
fxbreeze
- #123,008
- Feb 4, 2013 2:37am Feb 4, 2013 2:37am
guys, could anyone please tell me if i am doing this right? saw a DBHLC bouncing over confluence of
fib retrace of 23.6 and a strong resistance, prompted me to short the GBP USD pair.
Hi Aretes,
Here is my view.
I consider this D1 BEOB as a bearish continuation signal after the D1 bearish pinbar from Jan 2nd, 2013 (not seen on my feed) and after the W1 BEOB it created.
The 1.59 area is a strong PPZ in my view, with RN + 365EMA confluence, and 150 EMA just above it.
1.58 (+/- 50 pips) is also a PPZ, and thus may hold as resistance.
The area just below (1.54 - 1.57) is quite messy, thus price may or may not reach the previous lows (from september 2010, monthly, weekly and daily LCS by 1.54).
I entered two positions, one targeting 1.56, the other 1.55, since I already have locked in some profit form the W BEOB. Trade and SL will be managed according to the mess of this region.
Just my view, others may have another opinion
You also can have a look at Meshka's analysis on this pair, few posts earlier.
Take care,
Slow & steady
- #123,009
- Feb 4, 2013 3:27am Feb 4, 2013 3:27am
- | Commercial User | Joined Nov 2010 | 1,178 Posts
Nothing personal,just business
- #123,013
- Feb 4, 2013 4:06am Feb 4, 2013 4:06am
Hi
Personally I see the GBPUSD stuck in a larger weekly consolidation/ range market...but the problem is the fact that the price reachet the long term bullish trend line and the detail open more ways to trade this pair in the future !
Off course, because of the BEOB monthly and the weekly bearish candle that close within your blue box, we would like to see a close below the trend line in order to sell it till the weekly range market's support as target.
yep I agree about the longer term consolidation. The blue box I put there was just to highlight a smaller box in the wider one. (does it make sense ?
)I also agree that GU is trapped in a sort of triangle consolidation on the monthly/weekly.
Just an attempt to make few pips before price break these boxes and triangles...
future will tell what price will do
take care,
Slow & steady
- #123,016
- Feb 4, 2013 6:31am Feb 4, 2013 6:31am
GBPAUD will also encounter a rising trend line (currently below BRN 1.5) not shown on your chart. Also of interest is the RBA rate decision on 05 Feb at 03:30 GMT (which should be AUD positive unless there is a surprise rate cut).
lol ... shorted GBPUSD already @ 1.5736 ... and feel that I wont receive my higher price on GBPAUD today... but I have plan B my daily scenario. let market do its thing now. will accept if i am wrong.
![Click to Enlarge
Name: GBPAUD,Weekly]_2013-02-04_13-59-03.jpg
Size: 281 KB](/attachment/image/1129518/thumbnail?d=1365814149)
![Click to Enlarge
Name: GBPAUD,Daily]_2013-02-04_14-21-15.jpg
Size: 73 KB](/attachment/image/1129519/thumbnail?d=1365814149)
all is eternal - this is good news for people who loves bad news
- #123,019
- Feb 4, 2013 9:08am Feb 4, 2013 9:08am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
guys, could anyone please tell me if i am doing this right? saw a DBHLC bouncing over confluence of
fib retrace of 23.6 and a strong resistance, prompted me to short the GBP USD pair.
Be careful here. We want to look for DBHLC up at a swing high point. Price is at a very deep swing low point and that makes them tricky. Look for them up at nice swing high points when starting out. We have a few things that can give us a lot of trouble. Trading back into the swing low point which is where buyers were, and just under us is a major rising TL from a weekly view point as well
I've attached a chart of the weekly important confluenced area you are trading into. As well as a proper location when starting out for a DBHLC
Best
Mike
