DislikedKeep it in mind that GBP rate decision is coming up in 48 hours. GBP rate hike rumor is still on although it is expected there will be no changes in this meeting... But there will be volatility, monastery volatility by the time news hits the wires. As GA is at its 38.2% on 1.9350, there is no show-hand how would the price action would react to this level. {image} The fact I am having right now is, The last recent visit on the 1.9350 gave a 300 pips rebound. Resistant is at 1.9650. Support is at 1.9350. GA bull trend on daily chart is still intact....Ignored
(binned per thread starter’s request)Asian and London Section In
- #222
- Apr 7, 2015 7:22am Apr 7, 2015 7:22am
- | Joined Aug 2013 | Status: Trader | 1,289 Posts
{quote} Closed at 1.94Yes it is now 1.936sh.. Will see, perhaps seek to reload short..if ever bounce..
Not ideal entry, will see.
{quote} Short at 1.947, tp 1.933. Not ideal entry, will see.
Will see
- #223
- Apr 7, 2015 8:12am Apr 7, 2015 8:12am
- Joined Oct 2013 | Status: Trader | 1,929 Posts
The "W" and the "V"
These post a great deal challenge to your trade plans.
New trader be aware.
These post a great deal challenge to your trade plans.
New trader be aware.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return:
35.8%
- #225
- Edited 8:54pm Apr 7, 2015 8:42pm | Edited 8:54pm
- Joined Oct 2013 | Status: Trader | 1,929 Posts
GBPNZD From the "W" to the "M"
GBP Rate meeting in less than 36 hours now.
I just don't expect the GN would take off beyond the 1.9800 level before the rate meeting in 36 hours.
Most the time i trade where the trend goes, and then there is other time I trade where the market emotion is.
In this case, on the 1.9800 level, there were the long covers from the GBP service number (FEAR) and the continue upside pressure short orders from the AUD zone surprise (Greed).
I expect the GN range continue to hold for the next 36 hours unless there is any uncalled surprise.
GBP Rate meeting in less than 36 hours now.
{quote} GN and GJ seems bullish based on Daily tf imho. I could be wrong.
Most the time i trade where the trend goes, and then there is other time I trade where the market emotion is.
In this case, on the 1.9800 level, there were the long covers from the GBP service number (FEAR) and the continue upside pressure short orders from the AUD zone surprise (Greed).
I expect the GN range continue to hold for the next 36 hours unless there is any uncalled surprise.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return:
35.8%
- #226
- Apr 7, 2015 11:50pm Apr 7, 2015 11:50pm
- | Joined Aug 2013 | Status: Trader | 1,289 Posts
{quote} Short at 1.947, tp 1.933. Not ideal entry, will see. {quote} Add short at 1.949 Will see
- #229
- Apr 8, 2015 7:43am Apr 8, 2015 7:43am
- Joined Oct 2013 | Status: Trader | 1,929 Posts
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return:
35.8%
- #230
- Edited 3:33am Apr 9, 2015 3:15am | Edited 3:33am
- Joined Oct 2013 | Status: Trader | 1,929 Posts
It appears to me that the boats are sailed for tonight. 130 pips each, missed. 
This is what happens when got caught up at a party in one of the weekdays.
This is what happens when got caught up at a party in one of the weekdays.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return:
35.8%
- #232
- Apr 9, 2015 3:38am Apr 9, 2015 3:38am
- Joined Oct 2013 | Status: Trader | 1,929 Posts
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return:
35.8%
- #233
- Apr 9, 2015 11:23am Apr 9, 2015 11:23am
- | Joined Aug 2013 | Status: Trader | 1,289 Posts
GA H4 bearish harmonic pattern, rejected at fibo 23.6, will see if GA will fall, or extension further up... GN H4 bullish harmonic pattern, now (1.992sh) already at fibo 38.2. confluence zone is around 2.0100 which is also fibo 50. will see. {quote} Closed Long GN Short GN, TP 1.98 TP2 1.97 Short GA, TP1 1.93 TP2 1.92 Will see.
- #237
- Edited 9:56am Apr 10, 2015 8:59am | Edited 9:56am
- | Joined Jun 2014 | Status: Trader | 1,240 Posts
- #238
- Apr 10, 2015 6:31pm Apr 10, 2015 6:31pm
- Joined May 2014 | Status: My Ideas Are Just That -- Ideas | 4,473 Posts
Placed new order buying this TL has been insanely profitable lets see if it gets hit. GJ in my support zone will look to get long start of next week on test of 175.5 {image} {image}
My concern for a long here is that the pair may be in the process of making a lower low; the last few hours of trading have brought it in the vicinity of the 2015 low on Cable pre-election weakness, and it has broken the .382 line from the 10/15/14 low to the 12/5/14 high:
I am not good on Elliott wave analysis, but that might be helpful here ... .
An alternative view: price is in a descending triangle, the upper bounds of which have not been well tested (there is only the high point and intervening "test" between that and current price action):
A break below the floor could be ugly to the downside, but a long from 175.50 with a tight stop could offer quite good risk-reward, depending on what your TP is.
We'll just have to see what Monday brings ... . I'll probably wait until the close of the next daily candle ... .
Fireworks are fun ... as long as you don't blow your fingers off.
