Cable Update (GBPUSD)

​What about that double top on the same chart... same principle just opposite... it looks to have held nicely

taking a break here but looking to short sell GU below 4140 now will keep you guys posted.

here we go . 4 wave done. now 5 wave down ?

#9 Trade Exit

Moved my S/L to breakeven @ 1.41339 (+3PIPS).
I will keep my trade overnight and maybe overweekend if not stopped out.

There are five possibilities for exiting the trade.

1. I get stopped out at breakeven @ 1.41339 (+3PIPS)
2. I close in MAP and get stopped out @ 1.41509 (+20PIPS); price will have to move up to 1.42059
3. I will adjust the S/L regularly on the H4 always 5pips below the last candle, only if price closes above the previous close.
4. Price moves up and hits T/P @ 1.42809 (+150PIPS), a 20% lotsize will keep running without T/P.
5. I close all positions if EMA 5 crosses SMA 8. (Momentum H4 is downward).

I will scale in if EMA 5 crosses SMA 8 on the D chart. (Momentum D is upward).

Price already bounced the trendline as shown on the H4. I will trade the breakout if EMA 5 crosses SMA 8 again and change my bias if it makes a new LL on the daily chart. Probably with a T/P to FibE 61.8 but analysis will follow.

Setup
http://www.forexfactory.com/showthre...23#post8833423
Entry
http://www.forexfactory.com/showthre...08#post8833808
Outlook
http://www.forexfactory.com/showthre...36#post8834236
Management 1
http://www.forexfactory.com/showthre...57#post8834357
Psychology
http://www.forexfactory.com/showthre...98#post8834498
Report 1
http://www.forexfactory.com/showthre...09#post8834709
Management 2
http://www.forexfactory.com/showthre...67#post8834767

perfect bounce off the 1hr hybrid. Been a ruff ryde for my shorts

Buy
Stake
Buy 20 at 1.40615
Hedging
Cancelled
Good for day
Date/Time

Contingent Orders
Stop
(Est: [COLOR=#EC174A !important]1.40465[/color])P/L (£[COLOR=#EC174A !important]300.00[/color])
Guaranteed Stop
Limit
(Est: [COLOR=#EC174A !important]1.4245[/color])P/L £[COLOR=#0076C0 !important]1,780.00[/color]

bought 40615 5 min 100 and 200 ema as this mornings post target 424 looking to move pp just before close now

double bottom can not be there

well, I wrote the same but the trend will be down until BREXIT is settled.
my SL was hit around 1.4175, but I added short around 1.4180 (my heaviest short was to be around 1.42 as I only trade grid)

~%10 more to this account
I'll add more shorts if this goes higher, and if it goes lower I will just hold until we see price floor.

Exactly, as long as BREXIT is not decided, GU will be "sell on rallies" but..

I'm not sure how much % BREXIT is priced in already in charts, this can be seen as a risk for shorts as well. The slightest change in that percentage can cause a huge short-squeeze.

Bottom line, I do not have any idea where this pair is going to go

doesn't matter what your bias is; trend is down..
sell temp. bull rallies. USD no rate hike, GBP no rate hike+BREXIT worries

#GBPUSD still hanging in there with my short..... if it gets momo to the downside will pyramid downward

Be cautious of 1.42 next week

anyone facing huge spreads on GBPUSD, my broker has 4.5 - 6.6 spreads now, normally its 1-2.8

yes, it is holiday tomorrow - till monday (incl.)
it's easter
normal; expected low liquidity

huge spreads, huge price volatility
anything to be expected, don't be surprised
you have been warned

#GBPUSD that Divergence got me thinking it was going to turn upward, and got stopped out twice.... not this time..... if my calculation are correct... we could see 139ish

waiting for 1.41 break to bot
my TP: 1.408 (I'll reverse to long @ 4H neckline)
I'll hold if this goes lower...

hello target hit 4120.

now my trade is long gu. risk is very good.

#9 Trade Report 2

Got stopped out at breakeven @ 1.41339 this night.
Market could be ranging.
Will trade the breakout if EMA 5 crosses SMA 8, Price moves below 1.4040 and makes a LL.

Outlook will be adjusted accordingly.

Trade Setup will follow.

GBP/USD Outlook Update 25/03/2016

 

1. Trend D (EMA 200) - DOWN
2. Speed D (EMA 55 / EMA 21) - DOWN
3. Momentum D (SMA 8/EMA 5) - DOWN
4. Momentum H4 (SMA 8/EMA 5) - UP

1. Bias D/H4 (EMA 55/21, High and Low, Trendline) - LONG
2. Entry H4 (SMA 8/EMA 5, RSI) - WAIT

Setup
http://www.forexfactory.com/showthre...23#post8833423
Entry
http://www.forexfactory.com/showthre...08#post8833808
Outlook
http://www.forexfactory.com/showthre...36#post8834236
Management 1
http://www.forexfactory.com/showthre...57#post8834357
Psychology
http://www.forexfactory.com/showthre...98#post8834498
Report
http://www.forexfactory.com/showthre...09#post8834709
Management 2
http://www.forexfactory.com/showthre...67#post8834767
Exit
http://www.forexfactory.com/showthre...60#post8835060

Yeah, I can see that... Not only G/U but A/U & U/C have increased spread, check the pic

Any Idea why ?

Attached Image

Probably bcoz of holiday...