# GBP/USD



## Kauri

In for a short... and I was going out tonight..   
Cheers
...Kauri


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## Kauri

*Re: GBPUSD*

In for a short looking for a W2...
 Cheers
...Kauri


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## Edwood

*Re: GBPUSD*

Kauri - this is from a chap called TPB at livecharts as posted Friday - you'll struggle to find many better at EW.  he's looking for a retrace from black C.  dyor etc

cheers


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## Kauri

*Re: GBPUSD*



Edwood said:


> Kauri - this is from a chap called TPB at livecharts as posted Friday - you'll struggle to find many better at EW. he's looking for a retrace from black C. dyor etc
> 
> cheers




  Thanks EdWood,
   Good to know I am in step, although going by my count I may have led off with the right foot instead of the left..   
 Cheers
......Kauri


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## Kauri

*Re: GBPUSD*

Is now in the general area for a possible *WC* or *3*...
 Cheers
...Kauri


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## Kauri

*Re: GBPUSD*

Must be getting close the minor *W5*.....
  Cheers
......Kauri


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## Kauri

*Re: GBPUSD*

Got the minor W5....Now well into the W3 or C....
 Cheers
.......Kauri


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## Kauri

*Re: GBPUSD*

Although the time element isn't there the setup of A=C and B=62% on the 60Min looks like it may be one of those Gartley harmonics?? Also the daily isn't quite in the typical spot for a W2 but it is close... will watch my short-stop closely...
 Cheers
.....Kauri


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## Edwood

*Re: GBPUSD*

had a quick look & yes there is one there Kauri, not sure if its in the same timeframe as yours tho


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## Kauri

*Re: GBPUSD*



Edwood said:


> had a quick look & yes there is one there Kauri, not sure if its in the same timeframe as yours tho




   Hi Ed,
             Thanks for the chart, hadn't noticed the one on the 4Hr... the one on the 60Min is similar I think to the ABC setups in the MTP programme.... can't get them up in my charting, unfortunately the Gartley and Butterfly setups only work on EOD data in DT..  
 Cheers
......Kauri


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## Kauri

*Re: GBPUSD*

A good looking H/S setting up with a retest of the neck...
 Cheers
.......Kauri


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## Edwood

*Re: GBPUSD*

haven't tried it myself but for anyone using MT4 who wants a tool that will help to build Expert Advisors without having to know how to code.  Expect the code wouldn't be very 'clean' but could help to give a starting point

http://sufx.core.t3-ism.net/ExpertAdvisorBuilder/


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## Kauri

*Re: GBPUSD*

May be setting up for a *W3 or C*...  on the 60Min chart.. if it does no doubt my alert will sound off at some ungodly time in the early hours..   
 Cheers
.........Kauri


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## Kauri

*Re: GBPUSD*



Kauri said:


> May be setting up for a *W3 or C*... on the 60Min chart.. if it does no doubt my alert will sound off at some ungodly time in the early hours..
> Cheers
> .........Kauri




 Entry alerts going off all night, but, as of yet, no swing low to hang my stop on...   
   Cheers
..........Kauri


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## Kauri

*Re: GBPUSD*

Not as pretty as PhotoShop... but pleasant none the less...
 Cheers
..........Kauri


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## Kauri

*Re: GBPUSD*

On the daily she has all but reached what I consider to be a typical W2... so on the 60 Min (the time period I trade in) I have tightened up my stop, allowing of course that the decline that has been in 3 waves so far may have a W4 developing before a final W5... after this plays out a little further down the track will be looking to see if a tradable W3 develops.... 
 Cheers
..........Kauri


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## Kauri

*Re: GBPUSD*

Shorts closed out...will wait and see if a W3 builds from here...
 Cheers
.........Kauri


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## Kauri

*Re: GBPUSD*

Have a small long-side position on *"anticipating"* ? a W3,,, only small currently as the R/R wasn't there for a larger position, and also the weekly still suggests that there may yet be a drop to the 1.93's or lower..( if I have the labelling correct)..
 Cheers
...........Kauri


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## Kauri

*Re: GBPUSD*

Despite all the gloom on the USD I'm looking at a possible short Cable  .
  Cheers
............Kauri


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## chan_a1

*Re: GBPUSD*

Hi Kauri. I just started learning about forex trading. Are you able to explain your charts? Is your analysis based on Gann Analysis, Fibonnaci?


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## >Apocalypto<

*Re: GBPUSD*



chan_a1 said:


> Hi Kauri. I just started learning about forex trading. Are you able to explain your charts? Is your analysis based on Gann Analysis, Fibonnaci?




Hi Chan I can reply on this one for Kauri.

Kauri is using Elliot Wave.


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## reece55

*Re: GBPUSD*

Potential little earner here for those with the nerve to take it......

Nice inverted head and shoulders pattern present, with an unbelievable target of 2.135...... It has the added benefit of being an interest bearing trade (albeit a small interest bearing trade), but never the less adds weight the potential position.....

Kauri, Jo, any EW or other analysis to validate/invalidate the potential pattern??

Cheers
Reece


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## Kauri

*Re: GBPUSD*

Hi Reece,
             I'm in two E/W minds (at least  ) over the cable at the moment, someone more versed in the dark arcane arts may have a clearer outlook. H+S potential looks good though, will pencil it in on my charts and watch it.. thanks for posting it..   
 Cheers
..........Kauri


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## Kauri

*Re: GBPUSD*

Cable seems to be turning at a typical W3 point...both price and timewise..  
Cheers
........Kauri


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## ithatheekret

*Re: GBPUSD*

For those interested ..... GBP has just hit 2.05499 line , both last rallies started from there , just closed out all my shorts on the GBP 


now watch it go way past there ........... okay I'm chicken


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## Kauri

*Re: GBPUSD*



Kauri said:


> Cable seems to be turning at a typical W3 point...both price and timewise..
> Cheers
> ........Kauri



and now at typical W4 point???
Cheers
.........Kauri


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## ithatheekret

*Re: GBPUSD*

Not so chicken as to not go long for a squizzy , went past the waypoint by a tad , but they seem to have got the fuse lit now


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## ithatheekret

*Re: GBPUSD*

............ and there's a big swinging dk lurking out there too , must go search for footprints . But it's certainly revved up quickly . The BSD must have a ceiling area too .


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## ithatheekret

*Re: GBPUSD*

I don't think it suppose to be that easy to trade peaks , currently short again , but I managed to set reversals twice on three peaks .


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## Kauri

*Re: GBPUSD*

big call...   but then again no-one will remember it in 15 months... unless of course if they get it right, and then they will remind us..i spades   
Cheers
..........Kauri



> A UK clearer predicts that GBP/USD will *fall to 1.7600* over the next 15 months (Daily Telegraph, B1). Cable was last at 1.7600 in April 2006. "The most dangerous scenario for the UK is slowing US and EZ economies that hit the UK services sector, coupled with lower oil prices and lower UK interest rates", according to the chief currency strategist at the UK clearer.


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## ithatheekret

*Re: GBPUSD*

I got a news alert pop up on the BoE minutes , didn't even read it , just started pressing sell   

That was at 2.0047's , I just reacted to what I knew was coming ........

I entered the Euro too early and had to master my way out of that , $180 pretty good hey ........ not if you knew the position size 

So they may have a few rate cuts ahead on Cable .

Come on Kauri fess up mate , you were jumping on the sell button .

I'm contemplating another round as it closes in on 190's , 184 the best shot this arvo for me and missed it by  ( -- ) much .


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## Kauri

*Re: GBPUSD*



ithatheekret said:


> I got a news alert pop up on the BoE minutes , didn't even read it , just started pressing sell
> 
> That was at 2.0047's , I just reacted to what I knew was coming ........
> 
> I entered the Euro too early and had to master my way out of that , $180 pretty good hey ........ not if you knew the position size
> 
> So they may have a few rate cuts ahead on Cable .
> 
> Come on Kauri fess up mate , you were jumping on the sell button .
> 
> I'm contemplating another round as it closes in on 190's , 184 the best shot this arvo for me and missed it by ( -- ) much .




Hi ithatheekret,
 Ive been on the sell side for a whiles now... looking for the big 195...
that would give c=162%of a  and co-incidentally W3 of 162% as well..
Cheers
.........Kauri


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## ithatheekret

*Re: GBPUSD*

: : : : : 

That 199.3 area looks like its stalling , a failure there would see 198's down to 197.4/5's in with a chance . 

It's my fixation for present ........

Would probably slow a British tourist invasion on some shores too  , except the cricket of course .............


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## Kauri

*Re: GBPUSD*



ithatheekret said:


> That 199.3 area looks like its stalling , a failure there would see 198's down to 197.4/5's in with a chance .
> 
> It's my fixation for present ........
> 
> Would probably slow a British tourist invasion on some shores too , except the cricket of course .............




My Vindicators are hinting at a consolidation/pause, for a whiles... but  .....
Cheers
..........Kauri


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## ithatheekret

*Re: GBPUSD*

Hmmm .... yup made it into the 198's : someone grabbed the rail at 199.00 , I got em    ( joke ) nearly hit buy .

pause ? ........ are cucumber sandwiches and tea coming ?


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## ithatheekret

*Re: GBPUSD*

might stall a little around 198.80ish on covering .........

perhaps a predatory bounce .........


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## Kauri

*Re: GBPUSD*



ithatheekret said:


> Hmmm .... yup made it into the 198's : someone grabbed the rail at 199.00 , I got em  ( joke ) nearly hit buy .
> 
> pause ? ........ are cucumber sandwiches and tea coming ?



Drambuie and Dills for me...   
 No obvious near-term expiries at the moment so shouldn't be any serious defence...
Cheers
..........Kauri


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## ithatheekret

*Re: GBPUSD*

I pounced on that 199.04 area nice 15 min roll and ......  kaaaching ..........

still have the openers though


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## ithatheekret

*Re: GBPUSD*

If 198.80 fails , I'd be incline to call the last moves a DDCB . This will be interesting , come on gravity ............


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## ithatheekret

*Re: GBPUSD*

Yep 198.80 dropped like a rock , seen 198.3's so far .


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## Kauri

*Re: GBPUSD*



ithatheekret said:


> Yep 198.80 dropped like a rock , seen 198.3's so far .



Bring it on....  
Sterling has attracted some late selling out of Europe and *sources* suggest this could also be the pattern for Friday with a large slice of stale Sterling longs reportedly close to pulling the plug.
Cheers
.........Kauri


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## Kauri

*Re: GBPUSD*

Of the majors that I trade the Cable is the only one, so far, that hasn't gone into a holding pattern.... yet!!!
Cheers
.........Kauri


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## ithatheekret

*Re: GBPUSD*

I'm waiting to see how much of a fight it puts up .

Strange night on the Euro , didn't know what it wanted to do , seemed softly bid up only to break lower after each spurt .

Someones pointed the bone at it ........

Might place a couple of orders around 1.42 even and just below . I keep thinking 141.75 ........... ponder , ponder , ponder ...........

Looks more muddled than Centros bookwork !


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## ithatheekret

*Re: GBPUSD*

Forgot to mention I booked the winners in @ 198.10ish early AM .

looking to re-enter but ........ will wait for the funds to have fun first .....


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## ithatheekret

*Re: GBPUSD*

It's trying to push through the crowd and knock on 198.9's door .... trying .

Might notch that area in say 198.8/9 as the litmus zone , will try shorting if it founders there again .


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## Kauri

*Re: GBPUSD*



ithatheekret said:


> It's trying to push through the crowd and knock on 198.9's door .... trying .
> 
> Might notch that area in say 198.8/9 as the litmus zone , will try shorting if it founders there again .



No guarantees but it may be getting to roll over... or go belly-up.. or..  
Cheers
........Kauri


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## ithatheekret

*Re: GBPUSD*

If it could get it's head above 199.ish I'd be impressed . Until then I'm selling the crown jewels


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## ithatheekret

*Re: GBPUSD*

Swissie is starting to squirm by the looks ...... have a 115.56/8 entry down there somewhere ......... might be a holder soon .


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## Kauri

*Re: GBPUSD*



ithatheekret said:


> If it could get it's head above 199.ish I'd be impressed . Until then I'm selling the *crown jewels*




I've added to my shorts so often already I think the* family jewels* may be on the line..   
Cheers
.........kauri


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## Kauri

*Re: GBPUSD*

another short added... UK data out soon...
Cheers
..........Kauri


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## ithatheekret

*Re: GBPUSD*

The most annoying thing about this trade , is that we're helping Big Bowana Gordo .

Hopefully it doesn't get low enough for them to export him .........


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## Kauri

*Re: GBPUSD*

Retail sales as expected... so maybe now the short-term driver will be the option barrier purported to lie at 198...??
Cheers
..........Kauri


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## ithatheekret

*Re: GBPUSD*

I've got neck ache from watching pip swings for pounce opps.  

The madness should have died down by now , or be close to ending for the year . A couple of Funds are fighting over the Yen , but it's getting close to shop close here . Tonight might be fun , quadruple witching on the US boards , so will be applying matchsticks to eyelids for that one .........

I saw that 4% on retails ....... sold the peak for a schwing , one month , a trend it is not 

I been patiently waiting for it too pass 1988/9 and attempt 199 .05-15 , where I believe it will stall , if the rate cuts have sunk in to the funds heads .


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## ithatheekret

*Re: GBPUSD*

Cable has hung up the phone @ 198.00 and under , could be a long and bounciful  drop to that magical 196. and a 'alf .

waiting to see where the bounce ends up this time ..............

my bet is that it acts like a tennis ball going down a stairwell , a few good bounces , LSE has some really good stocks on it .... real value plays , some with actual organic growth .


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## ithatheekret

*Re: GBPUSD*

The rise as which I played into around the 2.084 area , went higher by a tad and then retreated back to the lower 198's .

It looks like a march back and forth between a no-mans land to me . A quick march with support through most of it . I thought at one time it was going to attack the 20MA .

So right now in the 198.3/4 area , my play is to look for it to test just below that 198.25ish , if that can't be held , I'll sell it again and look for something of an approach towards 197.80ish . Below that is a defence area around 197.6/7ish , the line must be breached there or we can forget 196 heaven .

The otherside of the coin has another trunching through no-mans land , with 198.5/6ish as the first test area ( could be a nice short area too, if momentum wains ) , above there is that 199. bingo zone , a breach of that lets loose the hounds and they run like blimey for 80 - 100 pips from there . but they haven't got the bunny on the run past the 20MA yet , downright tried though .

So alarms all set , and a few hail marys .............. and we should have a nice run eitherway on the track .


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## ithatheekret

*Re: GBPUSD*

PS.. last intraday supports breached .

Parity as pivot , saw resistance ???  now etched in the sand @ 2.0024/(and looking forward)2.0025 area just below a Fib projection around 2.005/6ish ,

highest intraday support @ 2.020 failed ,

the lower supports @ 1.993/4 -1.9910/05-198.8/7 failed ,

so any bounce could see 199 test again , I'll hold off on the 198.5 short if it starts heading that way , just in case 199.3/4 is tested , that would have Cable on its feet on the border of the no-mans land run . If it wants that walk through , it will more than likely try have a go at 2.005/6 area if 2.0024 gets breached , being the last top to run off and now semi-res.

I actually like the idea of that scenario more , due to the pip volume  schwing .........


PS.. note previous posts  2.084 mentioned should read 2.024


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## ithatheekret

*Re: GBPUSD*

198.25 tested , moving into 198.4/5 area now.


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## ithatheekret

*Re: GBPUSD*

Yawn.... typical tommy .

198.62 stopped for a cuppa and to read the map .


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## ithatheekret

*Re: GBPUSD*

If this run doesn't breached well past parity plus res. it would look like head and shoulder pattern to moi ....... even then ......

anyone else think these runs at peaks will continue into that scenario , 1 to go after this one ..............    ???


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## ithatheekret

*Re: GBPUSD*

PS.. I must apologise for some of my posts , noted members would understand the mistakes , but fat fingers and fast typing , whilst stacking executions has me in a rush at times .

Pick me up on them please by all means . But I 'm sure you would understand the directions I've project ....... but practice makes perfect and I'm no typist .  


good res. brawl @ 198.80./85ish down to 198.879ish


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## ithatheekret

*Re: GBPUSD*

Yes I reversed poz. just did it again long @ 19864 just above the cuppa break , fingers crossed it plays out this way or we'll prang the tea trolley .

tight trailer 8 units


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## ithatheekret

*Re: GBPUSD*

PS ... looking for the breach @ 198.91 to have some follow through , would be a lot of covering in the thin trade condtions . so for 198.89-91 must get trunched under boots , or its may dig in for next sessions . Saw just under @198.87 for a blink .


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## ithatheekret

*Re: GBPUSD*

I've got 197.87 for next low test , currently still 198.3/4 area after a mildish retreat again and 198.15-10 as a mild res. area too . Projection of the test line is 1.9784/3ish on one chart .


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## ithatheekret

*Re: GBPUSD*

PS... I did a rev. on a spike managed 198.75( high 4 too )  and 198.74/3 for the short , but I've can't get an accurate count off that spike . Had this once before on Skippy , and it was a conflict in the software over volume and price ..... according to the experts ........... personally I think they were idiopathic to the problem and wanted me off the phone .........  

Glitches huh .....


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## ithatheekret

*Re: GBPUSD*

198.5s stalling could be a fail .


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## Kauri

*Re: GBPUSD*

watching and waiting for a sign... not game to try and pick absolute bottoms, over time I have found I'm more profitable when concentrating on taking a decent slice...
Cheers
.........Kauri


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## ithatheekret

*Re: GBPUSD*

I'm looking for the top in this run have 196.21/22 so far . My range went to 126.24 didn't quite make it . Swissies got the drilling rig out ............


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## ithatheekret

*Re: GBPUSD*

it went past 1.9624 saw 27/9ish flash too .

haven't got time to keep check on it , but it sounds like it's on viagra .......

     unless someones exchanging their currencies .............


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## Kauri

*Re: GBPUSD*



ithatheekret said:


> it went past 1.9624 saw 27/9ish flash too .
> 
> haven't got time to keep check on it , but it sounds like it's on viagra .......
> 
> unless someones exchanging their currencies .............




Down to rumours...
Cheers
.........Kauri



> Cable has reclaimed a 1.96 handle on the back of early Europe USD selling, but has been outpaced on the gains front by EUR/USD--as evidenced by EUR/GBP all-but revisiting Friday"s euro lifetime high of 0.7586. Some of the *USD losses are being attributed to a CNBC website article suggesting that Citigroup could write down up to $24bn* tomorrow (Reuters).




and on the other hand...



> Greg"s Ip"s latest WSJ website article offering opines that the Fed is *unlikely to cut the Funds rate before January 30*. Late last week, a think-tank suggested that the Fed has a "window of opportunity" to cut rates this week.


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## ithatheekret

*Re: GBPUSD*

  it's in the range now .  how many party 6's did it get ?

Interesting about EUR/GBP swap , I have that at a projected range starting in the 76's , the lowest -highest projection is 81's , that would be a big shift .


Swissie digging deep , looking for China ...........


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## Kauri

*Re: GBPUSD*

Interest is Flagging...
 Tesco's have just come out calling for a rate cut.. put the necessary oomp into the flag..
Cheers
..........Kauri


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## ithatheekret

*Re: GBPUSD*

looks like Cables try to shake out the holders , the next ichi cross will be a nice boost .


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## Kauri

*Re: GBPUSD*



Kauri said:


> watching and waiting for a sign... not game to try and pick absolute bottoms, over time I have found I'm more profitable when concentrating on taking a decent slice...
> Cheers
> .........Kauri



Hi ithatheekret
  Looks like she may be basing... however my plan calls for it to prove it a touch more before I think about taking a slice... looking the goods though.. good trades for you I hope.. 

Cable dealers note plenty of activity in the shorter dates today.  Overnight doing the rounds in early London, with a 1.9775 said to have traded good amounts, so look for that level to attract if spot is in the vicinity tomorrow.  1.9800 GBP calls have also been trading up to the high 9.0"s in the 10 day - 2 week area.
Cheers
........Kauri


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## ithatheekret

*Re: GBPUSD*

I think the estimates 04 on the RPI threw the spanner in the works . 196.24 was the discount I had allowed it too on the rate cut . It's almost trading perfectly against a vanilla Ichi 9,26,52 , a little movement prior eachway .

To date my only top projection is the last rate cut area from 2.0221/11 to 1.99 area . The USD weakness is sporadic , which gann swingers must be having a ball on .

Skippy is soooo lagging the rest of its peers .........

You've been in the desert I note , what ........ Cable Beach


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## Kauri

*Re: GBPUSD*



ithatheekret said:


> Skippy is soooo lagging the rest of its peers .........
> 
> You've been in the desert I note , what ........ Cable Beach




Hi ithatheekret
   lagging.. and then some!!!  I think I backed the wrong horse..
   Cable Beach.. if only... more like where it's even too hot for Skippy to bounce..
Cheers
..........Kauri


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## ithatheekret

*Re: GBPUSD*

Don't worry about wrong horses mate they all end up passing the finish line .

But , there's a fair few backing camels lately


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## Kauri

*Re: GBPUSD*

Northern Rock apparently will get by in the publis sector, so GB won't need to nationalise it... a bit more good news and support for the cable..  
Cheers
.......Kauri


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## ithatheekret

*Re: GBPUSD*



Kauri said:


> Northern Rock apparently will get by in the publis sector, so GB won't need to nationalise it... a bit more good news and support for the cable..
> Cheers
> .......Kauri




Yeah , they'll be wrapping it up and selling it at Brighton soon .......


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## Kauri

*Re: GBPUSD*



ithatheekret said:


> Yeah , they'll be wrapping it up and selling it at Brighton soon .......




 Lends new meaning to "Brighton Rock" available by the bag on the pier..   
Cheers
...........Kauri


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## noirua

*Re: GBPUSD*

Northern Rock shares closed down 13.25p at 69.25p in London.
All but one of the resolutions put forward buy SRM Global and RAB Capital were defeated.
The one resolution passed means the Board "cannot allot shares with a value above £5 million without shareholder approval".

The Board said it believes that the successful resolution proposed will not be a "material restriction" to a rescue.
The looming Nationalization of Northern Rock is more likely than a few weeks ago.


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## ithatheekret

*Re: GBPUSD*

Cable strengthening , money leaving Europe and going home to London ?????


But specs pouring into Euro ........ ohoh where's the implosion ?

Some one better grab the breathalizer Skippies been on rocket fuel again .


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## >Apocalypto<

*Re: GBPUSD*



ithatheekret said:


> Cable strengthening , money leaving Europe and going home to London ?????
> 
> 
> But specs pouring into Euro ........ ohoh where's the implosion ?
> 
> Some one better grab the breathalizer Skippies been on rocket fuel again .




I am long on the eur/usd from 9:55 looks like a trend continuation but i have a funny feeling the us session may be a downer!


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## >Apocalypto<

*Re: GBPUSD*



Trade_It said:


> I am long on the eur/usd from 9:55 looks like a trend continuation but i have a funny feeling the us session may be a downer!




yeeeeeeeeeeeee haaaaaaaaaaaaaaaaaaaaaaaaaaa


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## ithatheekret

*Re: GBPUSD*

Hey TI go look at the chart again , bet you swear lots , but mind out for blasphemy .........


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## ithatheekret

*Re: GBPUSD*

My Eurogal is nicely banked .


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## >Apocalypto<

*Re: GBPUSD*



ithatheekret said:


> Hey TI go look at the chart again , bet you swear lots , but mind out for blasphemy .........




no swearing here on the the eur/usd when i went to bed I banked 1 contract at +42 pips, the other is now at break even. see where this goes.


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## ithatheekret

*Re: GBPUSD*

It was a top night TI , you would have ripped into em' and cleaned up .

Poor Kauri had a feed glitch and missed some good action , I'm sure he'll make it all up and some .


Just got back from Adelaide , ordered a nice new boat engine , the last one I trashed on a dredge cable .

I must of said HFS a dozen times myself ................


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## >Apocalypto<

*Re: GBPUSD*



ithatheekret said:


> It was a top night TI , you would have ripped into em' and cleaned up .
> 
> Poor Kauri had a feed glitch and missed some good action , I'm sure he'll make it all up and some .
> 
> 
> Just got back from Adelaide , ordered a nice new boat engine , the last one I trashed on a dredge cable .
> 
> I must of said HFS a dozen times myself ................




Eur/usd
was a nice one last night indeed. closed one out for 42pips and my other is still open, with my stop at 10 in front. wish IG had trailing stops would stop the sweat building on the forehead!  

great news on the boat engine Ithat sounds fast! :bowser:


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## ithatheekret

*Re: GBPUSD*

Test 3


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## ithatheekret

*Re: GBPUSD*



>Apocalypto< said:


> Eur/usd
> was a nice one last night indeed. closed one out for 42pips and my other is still open, with my stop at 10 in front. wish IG had trailing stops would stop the sweat building on the forehead!
> 
> great news on the boat engine Ithat sounds fast! :bowser:




Thanks Apocalypto , I'm very normally a tight @rse , but have had a few run ins with a certain dredges cable that has no float on it to warn boaties .

Got $1100.00 damages out of the contractor , but it cost me $936 in legal fees , which is still being fought over .

So I did my usual , walked away from it , they can sort it out .

Quoted $670 to repair  , but thought I'd trade it in , boat struggled with it has wide beam , and the old 125 just wasn't getting me in fast enough .

Trade in offer was cr@p , so might fix it and give to son who has a decent tinnie .

Two weeks and I'll have a nice new Yam 250 , the tester in the yard was so quiet I was amazed . Got a pic of it but too big a file to be accepted . 16 valves DOHC , gonna do wheel stands crossing Cape Jervois to K.I.


----------



## ithatheekret

*Re: GBPUSD*

Will history repeat itself , we can only h.h.ho ......


----------



## ithatheekret

*Re: GBPUSD*

schwing too ......


----------



## ithatheekret

*Re: GBPUSD*

The Ichi cross will probably see a brawl , but it looks just like another rerun so far , good bounce off 198.8's . don't  know how much steam is in it , I'd like to get one more hit on it before closing down tonight , woken the house up too many times here . PS DOWS in the green truely .


----------



## ithatheekret

*Re: GBPUSD*

Same Chit Different Day ........... Just waiting for the Kinjun to cross from above to see if it drops nicely , if it doesn't it will be stage left pronto .


----------



## ithatheekret

*Re: GBPUSD*

Groundhog day for Cable ?????


----------



## Kauri

*Re: GBPUSD*



ithatheekret said:


> Groundhog day for Cable ?????




  from memory a cable is an anchor chain.. approx 180metres.. (straight down??)  now there is a muppets scientific peice of compelling relevance..   
Cheers
..........Kauri


----------



## ithatheekret

*Re: GBPUSD*

It did try to get it pants back up .........  

PS.. blame the doji , it all it's fault .


----------



## ithatheekret

*Re: GBPUSD*

With a bit of luck the Euros will be full of baked beans and will get some wind assistance soon , sick of typing out buys 


Ah ..... FRITZ , more typing its decided to move , one of your mates Kauri , stopped off at the bottlo first .


----------



## ithatheekret

*Re: GBPUSD*

Can't find Miss Piggy , but I found Ben . ....... note he's full of beans


----------



## Kauri

*Re: GBPUSD*



ithatheekret said:


> Can't find Miss Piggy , but I found Ben . ....... note he's full of beans




Just gotta love the furry little fella...


----------



## ithatheekret

*Re: GBPUSD*

Do us a favour mate , give em' a ring and tell them I haven't finished typing yet ............


----------



## ithatheekret

*Re: GBPUSD*

Okay that will do , tell them they can go now .


----------



## Kauri

*Re: GBPUSD*



ithatheekret said:


> Do us a favour mate , give em' a ring and tell them I haven't finished typing yet ............




Gave him a ring but he's not too happy hearing from me again!!!


----------



## ithatheekret

*Re: GBPUSD*

Bribe him , we can afford it now .


----------



## ithatheekret

*Re: GBPUSD*

Back to Her Maj !


----------



## ithatheekret

*Re: GBPUSD*

missed the last peak on that crash


----------



## ithatheekret

*Re: GBPUSD*

That is not a crossing it's just touched and running semi-parrallel . Now in Honk Kong Harbour .


----------



## ithatheekret

*Re: GBPUSD*

look closely .


----------



## tayser

*Re: GBPUSD*

ithatheekret, may I just say: your charts are scaring the shizzle out of me.

load those indicators up!  pip on.


----------



## ithatheekret

*Re: GBPUSD*

I have to admit , Kauri gave me the lead info , I just did the computations and input for feed , I crashed 4 times . Thats scarey .

My missus is dancing in the kitchen with the chitzalot , she's happy I'm going to get unemotionally smashed ......... cheers .

Kauri your a bloomin' champion mate  ONYA !


Mark


----------



## Kauri

*Re: GBPUSD*



ithatheekret said:


> I have to admit , Kauri gave me the lead info , I just did the computations and input for feed , I crashed 4 times . Thats scarey .
> 
> My missus is dancing in the kitchen with the chitzalot , she's happy I'm going to get unemotionally smashed ......... cheers .
> 
> Kauri your a bloomin' champion mate ONYA !
> 
> 
> Mark





I'M innocent!!!!


----------



## ithatheekret

*Re: GBPUSD*

It would be rude to mention the profit , but let's just say the missus and I could afford to go exotic like Kenna ...............


----------



## ithatheekret

*Re: GBPUSD*

There's the GBP run down the station . 2nd are left overs from first run .


----------



## ithatheekret

*Re: GBPUSD*

I knew there'd be a brawl .


----------



## ithatheekret

*Re: GBPUSD*

It's an effort . But don't say we don't help ya Crash !


----------



## Kauri

*Re: GBPUSD*

and anchors aweigh????

Cheers
...........Kauri


----------



## ithatheekret

*Re: GBPUSD*

Snap . You must be in my head Kauri , along with the guy with the Bass drum .


----------



## Kauri

*Re: GBPUSD*

not that keen on flags.. often become triangles  buuuutt..  
Cheers
...........Kauri


----------



## ithatheekret

*Re: GBPUSD*

I've heard of pennies falling from heaven , but I wouldn't stand under this lot.

Forgot to sell that top bundle .......... not .


----------



## ithatheekret

*Re: GBPUSD*

WOOOOOW , plan the trade , trade the plan ....thanks for the saying Razz .


----------



## ithatheekret

*Re: GBPUSD*

Rule Brittania da dada dada daa daaah , drum roll .

My margin level just increased  2001.9% on those exits and I still have top sets ........ and Kauri , I just got reminded by the missus I have a 2.011-22 string in the other account , haven't been there since I can't remember , but I do recall saying it was a postion .

PS .......... Haven't touched that peak yet can't get UK RIO prices up ??? I will though eventually ............


----------



## ithatheekret

*Re: GBPUSD*

I hit it .


----------



## ithatheekret

*Re: GBPUSD*

out at 1.9770 might rev unsure yet , sold the first hit at 1.9755 both too early , RIO shares sliding , coal stocks doing good .

Got a feeling that area just above my last exit was the toppish area  , thought I saw the FTSE get near the ton .

Sorry bout typing rushing .


----------



## ithatheekret

*Re: GBPUSD*

I sold it at my highest prev exit .see above pls. if it goes into Kumo will sell again , Kumo exit will be wary , but negative , rate cut for UK coming up again by the looks .

Don't take this as trading advice pls. I'm an old expat pom that been out in the midday sun for years .......... be careful , trust your eyes not your hopes .


----------



## ithatheekret

*Re: GBPUSD*

Her Maj .

The last thing I remember was Lizzie coming out of the Kumo cloud and spiking , adjusted the auto pilot as she re-entered the cloud on a spike , probably something very much to do with a members Carlesburg & Heinekin takeover pledge info .


----------



## ithatheekret

*Re: GBPUSD*

So far so good . No real schwing yet   , trendy but ..........


----------



## ithatheekret

*Re: GBPUSD*

Is this what you had in mind ?

Bit of a contrarians contrarian .


----------



## ithatheekret

*Re: GBPUSD*

Kauri whack those numbers up and let em see what I'm moving around on .

Did you knock sell that peak ?

I moved first sell upto 35


----------



## ithatheekret

*Re: GBPUSD*

$180 x 6 units little but often is good , missed the bottom got 28 out 30 in


----------



## ithatheekret

*Re: GBPUSD*

This is not greed guys , its trend and there was an option I think trying to break it , I think the Pound Sterling will end up around 1.92 this year , may bounce back all the way , but the trend is your friend and if you can manage a few spike plays in between , it pays for the beers and accountants and makes a little toward the @rzols , I mean ATO ...... and f/u's elsewhere


----------



## ithatheekret

*Re: GBPUSD*

GBP/JPY on a spinner , look out below stuff .


----------



## Stormin_Norman

*Re: GBPUSD*

ive done well holding this all day since early this morning. now waiting for this rate announcement, and ill get out.


----------



## Kauri

*Re: GBPUSD*

Anatole Kaletsky in today"s Times headlined "Emergency: intensive care needed". The British economy is in "big trouble", according to Kaletsky, and needs the MPC to cut the base rate by at least 50bp today to counter "possible disasters ahead".  Fat chance.. 1/4 will do it... :


----------



## treefrog

*Re: GBPUSD*



Kauri said:


> Anatole Kaletsky in today"s Times headlined "Emergency: intensive care needed". The British economy is in "big trouble", according to Kaletsky, and needs the MPC to cut the base rate by at least 50bp today to counter "possible disasters ahead".  Fat chance.. 1/4 will do it... :




.25 it is - jerking the market south initially


----------



## Stormin_Norman

*Re: GBPUSD*

it went north! barstard. i lost a bit in the last 30 minutes. oh well. take the good with the bad. the market had obviously fully priced it in. what did the BoE say that made the market go up? ruling out further cuts due to inflation fears?


----------



## treefrog

*Re: GBPUSD*



Stormin_Norman said:


> it went north! barstard. i lost a bit in the last 30 minutes. oh well. take the good with the bad. the market had obviously fully priced it in. what did the BoE say that made the market go up? ruling out further cuts due to inflation fears?




sorry -was watching my trade on GBP/USD - should not have said *market* was going south - out now for 22pips


----------



## Kauri

*Re: GBPUSD*



Stormin_Norman said:


> it went north! barstard. i lost a bit in the last 30 minutes. oh well. take the good with the bad. the market had obviously fully priced it in. *what did the BoE say* that made the market go up? ruling out further cuts due to inflation fears?





http://www.bankofengland.co.uk/


----------



## Stormin_Norman

*Re: GBPUSD*

its going in the 'right' direction now. just peeved i hit my lowered stop loss points. i didnt move them cause i was fearful the market would keep moving against me.

ive lost a bit having to trade in and out. but this currency pair have been good to me today.


----------



## treefrog

*Re: GBPUSD*

20min tea break is over - heading south agin


----------



## Kauri

*Re: GBPUSD*

gone short.... am hearing also that risk aversion may be back on the menu tonight... well rumours og tit anyways..  
Cheers
.........Kauri


----------



## Wysiwyg

*Re: GBPUSD*



Kauri said:


> gone short.... am hearing also that risk aversion may be back on the menu tonight... well rumours og tit anyways..
> Cheers
> .........Kauri




I`m interested in what you have done now the quote is above your entry?Stopped out or took the maximum 15 points.

signed, newbie.


----------



## Kauri

*Re: GBPUSD*



Wysiwyg said:


> I`m interested in what you have done now the quote is above your entry?Stopped out or took the maximum 15 points.
> 
> signed, newbie.




 when I enter I have my allowable risk worked out and position size accordingly.. with my stop (red line) set at an appropriate and not too obvious spot... attached completed trade chart (AUDJPY) shows entry.. initial stop... and exit...  by the way it *looks* like getting set short again    ..

  so... no.. I am still in the cable trade... waiting for it to move one way or tother..   
Cheers
..........Kauri


----------



## Wysiwyg

*Re: GBPUSD*



Kauri said:


> so... no.. I am still in the cable trade... waiting for it to move one way or tother..
> Cheers
> ..........Kauri





It looks very defiant of your entry point at the moment.I`m using this real trade situation you have as if it were my own and what I would do compared to what others would do.Good luck.


----------



## Kauri

*Re: GBPUSD*



Wysiwyg said:


> It looks very defiant of your entry point at the moment.I`m using this real trade situation you have as if it were my own and what I would do compared to what others would do.Good luck.




  hope it turned out OK..   
Cheers
..........Kauri


----------



## ithatheekret

*Re: GBPUSD*

I just saw dragonflies everywhere on the chart , first flick of the wrist .

Couple of 4 price effectives . We're off attacking that 80's area I'd say .

The 45 area looks protected .


----------



## ithatheekret

*Re: GBPUSD*

It's a punt stops will tell . Small volumes so far . Missed the lower area , but will be watching Skippy , the metals and market brawl should be good today .


----------



## ithatheekret

*Re: GBPUSD*

and out ...........


----------



## ithatheekret

*Re: GBPUSD*

clear reverse gears and slow ahead


----------



## ithatheekret

*Re: GBPUSD*

I said slow bloomin pommies only know two speeds flat out and stop .

......... piano .... piano ........


----------



## ithatheekret

*Re: GBPUSD*

UK core PPI border 19% now .........ouch 

We feel for ya Wayne .


----------



## wayneL

*Re: GBPUSD*



ithatheekret said:


> UK core PPI border 19% now .........ouch
> 
> We feel for ya Wayne .




This economy is going to be spit roasted. Gordo fiddles, while Ro.... err Londinium burns.


----------



## ithatheekret

*Re: GBPUSD*

There's always Hamilton ........ need a coup though


----------



## wayneL

*Re: GBPUSD*



ithatheekret said:


> There's always Hamilton ........ need a coup though



Who's Hamilton?


----------



## ithatheekret

*Re: GBPUSD*

I thought he was the driver , he's got a Bentley , he's qualified .


----------



## Kauri

*Re: GBPUSD*



ithatheekret said:


> I thought he was the driver , he's got a Bentley , he's qualified .





Hope the Bentley wasn't on credit..   

 Barclaycard has written to more than a million customers throughout Britain telling them their credit cards are being cancelled, according to the Sunday Express. Britain"s leading credit card supplier has also written to "millions more" informing them of a reduction in their credit limits, according to the Sunday Express. Egg last week announced that it had written to 160,000 customers withdrawing credit facilities.


----------



## ithatheekret

*Re: GBPUSD*

I wish somebody would cancel the missus's cards  . 

I told her she needed to strengthen her credit rating , she's done that , but if I took em off her now , she'd do an Amy Winehouse on me .

I don't wanna go to rehab , I said no nooo nooo no .


----------



## wayneL

*Re: GBPUSD*



Kauri said:


> Hope the Bentley wasn't on credit..
> 
> Barclaycard has written to more than a million customers throughout Britain telling them their credit cards are being cancelled, according to the Sunday Express. Britain"s leading credit card supplier has also written to "millions more" informing them of a reduction in their credit limits, according to the Sunday Express. Egg last week announced that it had written to 160,000 customers withdrawing credit facilities.



Depending on how you look at it, this is either very good news or very bad news.

Good medicine always tastes like crap though dunnit?


----------



## ithatheekret

*Re: GBPUSD*

The old girls getting into the schwing lately , had an earlier buy in moved it out and small rev. , good elevator rides here .
Get's the I don't knows up and goes walkabout in Asian trading sometimes , must be moider for Wayne . By the chart , the old girls pith'd again .

Of course we've had it here ... for it seems like centuries ..............

I'll get this taken off near 1.97 via autopilot and think about more pressure on the UK Crash Diet .


----------



## ithatheekret

*Re: GBPUSD*

I tried this . started to wobble here . dfk just a punt on a dbl touch after decline .


----------



## ithatheekret

*Re: GBPUSD*

Didn't expect that ..... three white soldiers and the tenk cross from underneath to come hope it's a good one .


----------



## ithatheekret

*Re: GBPUSD*

Gone next bounce search underway .


----------



## ithatheekret

*Re: GBPUSD*

and again ......... no real confirmation yet .


----------



## ithatheekret

*Re: GBPUSD*

there were three buy ins at that entry they've achieved 400 each , two are gone .


----------



## ithatheekret

*Re: GBPUSD*

pays to rely on stops and trailers , third and final shot at her maj before NY session . enough scalping and I'm not game to short her yet until the hedge funds are in and I can see where they are moving it to .


Slow as today , Skips chipping away 9034 area look like stiff res. at present .

Her Maj , well I'm looking for the conversions in currencies to see who's getting balied out


----------



## ithatheekret

*Re: GBPUSD*

oooh ..... that's a bank .


----------



## ithatheekret

*Re: GBPUSD*

The way I see it .

Wait till the funds come to a conclusion .


----------



## ithatheekret

*Re: GBPUSD*

I did Kauri , forgot and used three anchors instead , itchy finger .


----------



## Kauri

*Re: GBPUSD*



ithatheekret said:


> I did Kauri , forgot and used three anchors instead , itchy finger .




Don't forget.. a cable is an anchor chain approx 180mtr long..   
Cheers
..........Kauri


----------



## ithatheekret

*Re: GBPUSD*

I was in a hurry had to close off a few of my CAD and finish buying the Yen .


----------



## Kauri

*Re: GBPUSD*

itha
     have dropped a few picks over the side,, swinging the lead currently to try to fathom the depth,, think we have scraped over the sandbar at 95..
Cheers
..........Kauri


----------



## Kauri

*Re: GBPUSD*

one of the reasons I'm down on the cable... on the daily.. looks a tad sad..  
Cheers
.........Kauri


----------



## hangseng

*Re: GBPUSD*

will it hold 19486, seems it may do so. or is the wall at 19493 too much


----------



## Kauri

*Re: GBPUSD*

closed out previous trades at 9510 and went to bed.. only to hear an "order to open" go off... so am back in again... now.. back to the scratcher..
Cheers
............Kauri


----------



## Kauri

*Re: GBPUSD*



Kauri said:


> closed out previous trades at 9510 and went to bed.. only to hear an "order to open" go off... so am back in again... now.. back to the scratcher..
> Cheers
> ............Kauri




Moral of the story... check buy stops etc before shutting down for the night!!!   
Cheers
...........Kauri


----------



## Kauri

*Re: GBPUSD*

gone short the cable... again
Cheers
..........Kauri


----------



## Kauri

*Re: GBPUSD*



Kauri said:


> gone short the cable... again
> Cheers
> ..........Kauri



 Didn't pan out... closed and watching..   
Cheers
..........Kauri


----------



## Kauri

*Re: GBPUSD*

HRH.seems determined not to turn 75... for some reason??? It should be a great bash when she does though
Cheers
.........Kauri


----------



## ithatheekret

*Re: GBPUSD*

I looked at this , spotted Her Maj again and did this , would like to find more on that buying spree .......... might have a go at the Looney in a moe .


----------



## ithatheekret

*Re: GBPUSD*

I got $640 a shot out of that first kick . Took the second peak too , but tight rses have me on $80 each this time round . might have anothery , but CAD is still getting shoved down , waiting ... waiting ....


----------



## soso

*Re: GBPUSD*

My EW view, I think we are in Wave 3 of larger Wave 5.

And 3 timepoints that I think have a fairly good chance to reverse the move they come into:
- February 29
- March 7/8
- March 23


----------



## Stormin_Norman

*Re: GBPUSD*

i've gone short after the news today @ 1.9573


----------



## hangseng

*Re: GBPUSD*



Stormin_Norman said:


> i've gone short after the news today @ 1.9573




What news would that be Stormin?

Been out of the loop today flying around the Pilbara.


----------



## Stormin_Norman

*Re: GBPUSD*



hangseng said:


> What news would that be Stormin?
> 
> Been out of the loop today flying around the Pilbara.




retails sales were positive and the pound jumped on it. got in short and out quickly for 30 pips. thinking of buying back short again now.


----------



## Wysiwyg

*Re: GBPUSD*



Stormin_Norman said:


> retails sales were positive and the pound jumped on it. got in short and out quickly for 30 pips. thinking of buying back short again now.




Shorting in a rally?Hmmmm.


----------



## Stormin_Norman

*Re: GBPUSD*



Wysiwyg said:


> Shorting in a rally?Hmmmm.




i think the GBP is overbought. i didnt end up buying back in last night, but im waiting for its turn.


----------



## hangseng

*Re: GBPUSD*



Stormin_Norman said:


> i think the GBP is overbought. i didnt end up buying back in last night, but im waiting for its turn.




Not sure I agree. Very strong last night and the EUR/USD went with it back to the 14wk highs.

Short anything I would say EUR/USD. I am looking for a spot back to strong support now for the GBP around 19470 for a buy, short it to that level would be game I think though. 19550 may be a good buy level as well with support around that region.


----------



## Stormin_Norman

*Re: GBPUSD*

i think there was an over-reaction to the retail sales figures in the uk, and that the fed rate cuts are pretty close to being priced into the USD. so i'm looking for it to come off a bit.

i guess time will tell id want it to drop through 1.9610 - 1.9600 before committing: stop loss @ 10 pips, aim for 30-40.


----------



## Wysiwyg

*Re: GBPUSD*

I could be wrong (but i try to post when i`m right ) but this seems like the end of a major uptrend for this pair with the formation of a H&S this morning.Does anyone see another rally toward 20,000 now?The hand is where i bought 1.


----------



## Stormin_Norman

*Re: GBPUSD*

two weaklings fighting it out. itll be interesting to see who wins.


----------



## Kauri

*Re: GBPUSD*

God save the Queen, because nothing will save the Cable???

Cheers
...........Kauri


----------



## Kauri

*Re: GBPUSD*

A forecast last night from *JP Morgan* that the city of London could lose 40,000 jobs due to the credit crisis. The *UK Telegraph* reports  that Halifax, the biggest mortgage lender, is set to hike rates as high as 0.50% by tonight as the funding costs pressure banks. 

Cheers
............Kauri


----------



## Kauri

*Re: GBPUSD*

broke a bit too quickly to post as it happened.. butt... at least it is on the same day..     Cable 5min
Cheers
...........Kauri


----------



## Kauri

*Re: GBPUSD*



Kauri said:


> God save the Queen, because nothing will save the Cable???
> 
> Cheers
> ...........Kauri



 and the 60min isdeciding whether to run or not..
Cheers
...........Kauri


----------



## Kauri

*Re: GBPUSD*



Kauri said:


> broke a bit too quickly to post as it happened.. butt... at least it is on the same day..  Cable 5min
> Cheers
> ...........Kauri




maybe flagging.. or another coily??

Cheers
..........Kauri


----------



## ithatheekret

*Re: GBPUSD*

The MA crossings don't exactly look too bullish , but if the 14 day crosses the 20 day from underneath we may see a little bounce . 

But hey it's right where you mentioned it would be to me at 196 . Vanilla is the flavour of the day , huh 

I have the 14 day attempting a crossing of the 89 day right now , from above . I'd like to see that move stopped short for a wee bounce too .


----------



## Kauri

*Re: GBPUSD*



ithatheekret said:


> The MA crossings don't exactly look too bullish , but if the 14 day crosses the 20 day from underneath we may see a little bounce .
> 
> But hey it's right where you mentioned it would be to me at 196 . Vanilla is the flavour of the day , huh
> 
> I have the 14 day attempting a crossing of the 89 day right now , from above . I'd like to see that move stopped short for a wee bounce too .



 Hi Ita..
             Yep, because of the aforementioned level I ran a tight stop on the flag... got stopped out pretty smartly for a couple of bob, but the coily made up for it...  
  Perth covered in smoke all day, someone must have torched something..   ..  so have added a few spiral colours to my charts to brighten the day a bit..    ..
  Cheers
..............Kauri


----------



## ithatheekret

*Re: GBPUSD*

Big volcano eruption on one of the Indonesian islands I heard , could that be the smoke you're seeing ?

.......... if not at least it's April the WA rain should deal with it if the cities burning . I heard they were dumbing down the proposed new CBD , didn't think they burn it


----------



## Kauri

*Re: GBPUSD*



ithatheekret said:


> Big volcano eruption on one of the Indonesian islands I heard , could that be the smoke you're seeing ?
> 
> .......... if not at least it's April the WA rain should deal with it if the cities burning . I heard they were dumbing down the proposed new CBD , didn't think they burn it



 apparently some of your neighbour types are burning off for seeding....
 rain... is that that wet thingy that falls from the sky... the old memory is not what it used to be..
  dumbing down the CBD... I didn't think they could.. not beyond where it is already... I've lived in Perth/outer Perth for 6 years straight now and have been there twice... the second time was only to make sure that the first impressions were correct..  
 Cheers
...........Kauri


----------



## Kauri

*Re: GBPUSD*

Early Europeeean traders have taken her out the top... as I don't sail against the prevailing winds I'll be watching and waiting to see if a squall.. or worse.. blows up..
Cheers
...........Kauri


----------



## Kauri

*Re: GBPUSD*

early Europe USD selling, a *WSJ* website article headlined "Merrill Upped Ante as Bonds Fizzled". The article says that Merrill Lynch is tomorrow expected to report its third straight quarterly loss and $6bn to $8bn in new mortgage-related write-downs, "according to a *person familiar with the matter*".  Plurry hall.. ruined a good coily did our _Familiar_..   
Cheers
...........Kauri


----------



## ithatheekret

*Re: GBPUSD*



Kauri said:


> the second time was only to make sure that the first impressions were correct..
> Cheers
> ...........Kauri




Crack me up .

A burn off huh , nice neighbours . 

At least I wait until the end of April , before I gas the trenches . 

Nice bounce on Maj and Skip .

My concrete set nicely during that run , now I'd best finish it or it will look even worse than it will anyway .......................


----------



## Kauri

*Re: GBPUSD*

may have missed out on the hourly..   

but have taken a bite of this one on the 5min...  have been studying the 4point lower high lower low coily as a small reversal setup.. so in for a penny in for a tot..

Cheers
..........Kauri


----------



## Kauri

*Re: GBPUSD*



Kauri said:


> may have missed out on the hourly..
> 
> but have taken a bite of this one on the 5min... have been studying the 4point lower high lower low coily as a small reversal setup.. so in for a penny in for a tot..
> 
> Cheers
> ..........Kauri





Moved the stop to B/E... someone has been feeding Gordon beans...

Cheers
.........Kauri


----------



## Kauri

*Re: GBPUSD*



Kauri said:


> Moved the stop to B/E... someone has been feeding Gordon beans...
> 
> Cheers
> .........Kauri



 and over and out... nothing ventured, nothing gained...  :  
Cheers
............Kauri


----------



## ithatheekret

*Re: GBPUSD*

I've dropped my last 5 , but wouldn't be surprised to see further pushes just above parity . But she had a beaut run down and a beaut run up hey Kauri .

I like this unit , much so .


----------



## tayser

*Re: GBPUSD*

strong come back on sterling/yen:







entered on break of the upward sloping resistance and pivot, TP set on the weekly pivot.


----------



## BentRod

*Re: GBPUSD*

Poor old Cable was not spared either.

Well and truly creamed on the Daily chart.


----------



## Kauri

*Re: GBPUSD*

Just dug this up from mid December.... well what do you know....   

 when cable was running around 2.04.. 

  Cheers
.............Kauri


----------



## Kauri

*Re: GBPUSD*

Pulled up at 261.8... now to see if she is a 4th wave or a tsunami..
Cheers
..........Kauri


----------



## Kauri

*Re: GBPUSD*



Kauri said:


> Pulled up at 261.8... now to see if she is a 4th wave or a tsunami..
> Cheers
> ..........Kauri




 If that was a 4th wave it was more like a ripple... mayhaps the tri. will break??.. or not..   
Cheers
...........Kauri


----------



## Kauri

*Re: GBPUSD*

The tri. held, will watch for a possible reaction to the upper side... the smaller one is too far gone towards the apex to be of any interest... to me anyways... 
Cheers
............Kauri


----------



## Kauri

*Re: GBPUSD*



Kauri said:


> The tri. held, will watch for a possible reaction to the upper side... the smaller one is too far gone towards the apex to be of any interest... to me anyways...
> Cheers
> ............Kauri




  Maybe the basing/consolidation phase is done with, will watch the top of the tri. at around 18650'ish for a clue.. however, on the other hand, there is always another set of fingers...
Cheers
..........Kauri


----------



## Kauri

*Re: GBPUSD*



Kauri said:


> Maybe the basing/consolidation phase is done with, will watch the top of the tri. at around 18650'ish for a clue.. however, on the other hand, there is always another set of fingers...
> Cheers
> ..........Kauri




Stalling on the upper line, gathering itself for a jump.. or maybe exhausting itself bashing its head on the roof???..   
Cheers
..........Kauri


----------



## lasty

*Re: GBPUSD*

US Dollar is looking soft again...Could be a big spit of the greenback tonight


----------



## Kauri

*Re: GBPUSD*

Yep... now if the Jerry PPI comes in under 50...  

Cheers
.............Kauri


----------



## Kauri

*Re: GBPUSD*

Terrible echo in the FX rooms...
must be a holiday somewhere..  ..
hey, 
depression is just anger without enthusiam you know.. 
or a trading account that is below the Plimsol line...
I guess..
Cheers
. ........Krakatoa kauri


----------



## caribean

*Re: GBPUSD*

I'm not calling it a short for me yet, but that 1.8200 level is calling out for a meeting some time, but obviously the intraday will give more clues sooner or later....long first or not? it's on the topside of the coily thing and a half decent down TL is there also.


----------



## Kauri

*Re: GBPUSD*



caribean said:


> I'm not calling it a short for me yet, but that 1.8200 level is calling out for a meeting some time, but obviously the intraday will give more clues sooner or later....long first or not? it's on the topside of the coily thing and a half decent down TL is there also.





  July Retail Sales +0.8% m/m, +2.1% y/y These numbers are much better than expected--although June retail sales have been revised down to minus 4.3% month-on-month, from minus 3.9% m/m.  Soooooooo... 

 Hi carib..  glad someone else is here... I'll stop the Lithium now..   

Cheers
.........Mauri


----------



## caribean

*Re: GBPUSD*

Yeah ...Mauri..lol not enough participation on the boards, or maybe not enough forex traders, never mind, i've got a glass with a few bits of ice, and some other stuff in it, cheers mate!


----------



## Kauri

*Re: GBPUSD*



caribean said:


> Yeah ...Mauri..lol not enough participation on the boards, or maybe not enough forex traders, never mind, i've got a glass with a few bits of ice, and some other stuff in it, cheers mate!




  Watch out for dat ice... it tends to melt when you're not watching an dilutes the good stuff.. I tink...

Cheers
............Kauri


----------



## caribean

*Re: GBPUSD*

Well it has broken (apparently) the coily thing to the upside, and what looks like messy railway tracks on the hourly (red circle)...


----------



## caribean

*Re: GBPUSD*

...on the 15 min it's more like test of the backside of the TL...


----------



## Kauri

*Re: GBPUSD*

E.ON has raised its UK electricity and gas prices for its 5.5 million UK customers by 16% and 26% respectively..  now what is that going to do for UK inflation.. rate cut expectations... and the Cable??? I wonder..

Cheers
........Kauri


----------



## Kauri

*Re: GBPUSD*

Long weekend for the long-suffering anglos I thunk... so possibly a bit of position squaring/closing will come in play soon...

Cheers
...........Kauri


----------



## Kauri

*Re: GBPUSD*

A bit of talk on other treads about Guru's and thier predictions... one extremely relevant one I have been following states that a Cable in the RN is a measure of length coming in at 185metres... so now that cable has reached 185...   
Cheers
.........Kauri


----------



## Kauri

*Re: GBPUSD*

Cable still patterning along nicely...
Cheers
............Kauri


----------



## Kauri

*Re: GBPUSD*

Not sure if it is classic PPS... 
but it is Patterns.. 
.....it is Profitable... 
and it's Simple..
...so far..   
Cheers
..........Kauri


----------



## Kauri

*Re: GBPUSD*

May be another ledge.. or possibly a tri. forming... 
Cheers
..........Kauri


----------



## caribean

*Re: GBPUSD*

Hey Kauri, some good patterns there....they work on all TF's.


----------



## Kauri

*Re: GBPUSD*



caribean said:


> Hey Kauri, some good patterns there....they work on all TF's.




 Hi caribean,
  Can find them on any timeframe on any instrument... with a couple of sensible filters you can run at 35-45% hit rate... or so I have found.. so faar..
Cheers
.........Kauri


----------



## caribean

*Re: GBPUSD*

I use them a fair bit, together with chanels, TL breaks, and a few other tricks
have learned to pay a lot more attention to chanels


----------



## Kauri

*Re: GBPUSD*

Cable to 165 within 12 months?? 
 ...rather than buying a block of the yellow stuff..
  .....I tink I'll put a couple of cable contracts away..
........ for the long haul..
.......physical yellow trebled over how many years
....leveraged cable..
trebled in how many minutes??
..... and risk free!!!....  

  coupled.. decoupled.. or just derailed???
.... dropping a pick is easy..
...........hauling it back is a whole lot harder..

  I thunk..   
Cheers
............Kauri


----------



## Kauri

*Re: GBPUSD*

Nott too scientific.. but I have found.. with my Pattern finding.. that when a 3rd pattern emerges in a trend.. especially a flaggy looking ting... that it indicates a possible bounce...   

o.. in short... my stop is pulled in... 

 has anyone else come upon this..
 or..
 just me???

 are you there Curtis??   

Cheers
..........................Kauri


----------



## caribean

*Re: GBPUSD*

it's all slowed down to a crawll...been watching the EUR mainly, ever so close to my target, i'm still keen on that 8200-150 level on the pound, maybe not tonight, and as always, whatever the intraday set up brings....


----------



## Kauri

*Re: GBPUSD*

I wonder if this one will play out??

Cheers
............Kauri


----------



## Kauri

*Re: GBPUSD*



Kauri said:


> Nott too scientific.. but I have found.. with my Pattern finding.. that when a 3rd pattern emerges in a trend.. especially a flaggy looking ting... that it indicates a possible bounce...
> 
> o.. in short... my stop is pulled in...
> 
> has anyone else come upon this..
> or..
> just me???
> 
> are you there Curtis??
> 
> Cheers
> ..........................Kauri




  and true to form the 3rd pattern signals a reversal... the kaliedescopic filters I use were also starting to lean to a correction...  not enough to go long, but enough to keep me out of shorts...

Cheers
...........Kauri


----------



## Kauri

*Re: GBPUSD*

I hear that in Asia a top "via DeMarks indi's" has been called by a lot of players on the USDindex.. in part feeding the drop in the $index, fed on by model funds and CB's... apparently..
Cheers
..........Kauri


----------



## Kauri

*Re: GBPUSD*

Still not enough of the right colours one way or tother for me... but is getting into an interesting Fib zone.(50%-62%)
Cheers
............kauri


----------



## Kauri

*Re: GBPUSD*



Kauri said:


> but is getting into an interesting Fib zone.(50%-62%)
> Cheers
> ............kauri




 The above Fibs capped... now at 50-62%fibs of that move...
the kaliedescope is in early stages of lining up... now a pattern or other entry is needed to coincide with the kaliedescope.... for me anyways..

Cheers
...........kauri


----------



## caribean

*Re: GBPUSD*

G'day Kauri, good old patterns working a treat hey?
lately i have been concentrating on the EUR only, it has provided some great trades this arvo on 1 min, i've got no clear direction myself for tonight, we'll see how it all develops.


----------



## Kauri

*Re: GBPUSD*



caribean said:


> G'day Kauri, good old patterns working a treat hey?
> lately i have been concentrating on the EUR only, it has provided some great trades this arvo on 1 min, i've got no clear direction myself for tonight, we'll see how it all develops.




Hi carribean 
Gotta love patterns..  I have 10 pairs I trade.. all of them looking similar at the moment... only have time to post on one... this week it's the Cable...


the 50-62%fib held agian.
a wierd looking tri. has formed.. but my kaleidescope is all mixed.. so I wait..
the choppy action ..and my indi's being all over the shop.. suggest a corrective move against the previous impulse..
Cheers
...........Kauri


----------



## Kauri

*Re: GBPUSD*



Kauri said:


> the choppy action ..and my indi's being all over the shop.. suggest a corrective move against the previous impulse..
> Cheers
> ...........Kauri




 I didn't get an entry setup on the fall/impulse..   will see if 50-62% and a pattern come up to reload..
Cheers
..........Kauri


----------



## Kauri

*Re: GBPUSD*

a ways to go yet... butt is looking possible for an ABC...

and UK economy is not looking flash going forrard..
Cheers
........Kauri


----------



## Kauri

*Re: GBPUSD*



Kauri said:


> a ways to go yet... butt is looking possible for an ABC...
> 
> 
> Cheers
> ........Kauri



 now to see if the kaleidescope and an entry line up...
Cheers
...........Kauri


----------



## caribean

*Re: GBPUSD*

Good set of tweezer tops, and major news out 4PM, but it is also sitting right on support.


----------



## Kauri

*Re: GBPUSD*

got the 50-62% level.. possibly have the pattern... but the laleidescope is still jumbled..   

 CBI a shocker??
Cheers
..........Kauri


----------



## Kauri

*Re: GBPUSD*

The trees around here are full of plurry cooing doves...

Cheers
............Kauri


----------



## Kauri

*Re: GBPUSD*

solly about the first clip in last post... was just seeing if anyone read the posts and would pick up it twas a blank... aaah..such is life,,,   

   hereit tis... for what it ..etc..    

  US data may have an affect later...   12:30GMT second gueestimate of US Q2 GDP, alongside US weekly jobless claims. Annualized GDP growth is *expected* to be upwardly revised to 2.7%, from 1.9%. Jobless claims are _*forecast*_ to ease to 425k, from 432k previously.

Cheers
.............Sauri


----------



## Kauri

*Re: GBPUSD*

poor UK data surprises to the downer side..
 good US data surprises to the up side...
 and the ranger traders hold sway...
 the only pattern I can find...
is one I am not familiar with...
sometimes it is best to stand back and watch metinks..
 so I am out of here...
I just hope Gustav doesn't set off Pavlovs dogs...

 Cheers
...............Kauri


----------



## wayneL

*Re: GBPUSD*



Kauri said:


> poor UK data surprises to the downer side..
> good US data surprises to the up side...



Gordo will have to have a word to the statistics boys... can't have those bloody Yanks out-manipulate us.


----------



## Kauri

*Re: GBPUSD*



wayneL said:


> Gordo will have to have a word to the statistics boys... can't have those bloody Yanks out-manipulate *u*s.




*US*???  and my mate in Mt Pleasant assured me you were one of us...


----------



## Kauri

*Re: GBPUSD*

. Answering the call for inspiration the BoE"s Blanchflower has hit the screens. Talking to *Reuters* the Bank of England policymaker noted that up to *2 million Britons may be out of work by Christmas*. He has gone on to suggest that big cuts in interest rates are needed now to stop the economy heading into a deep and prolonged slump.
    Signaling he will be calling for more than a 25bp cut at the next BoE MPC meeting he is quoted as saying "I have obviously voted on quite a number of occasions now for small cuts but we need to act and we probably need to act in larger amounts than that. We need to actually get ahead of the game and it appears that we are now behind".


So _unexpected _were his commennts that I nearly missed Leemings latest in the same shheeet saying Fannie was travelling well,  however they had cut their outlook to $20...  ( yes, they have recovered to $6 odd..)...
Cheers
..............Kauri


----------



## Kauri

*Re: GBPUSD*

stops set..

trade on...
...alarums set...
......sheets turned back..
.........and it's goodnight from me...
............and goodnight from him....

Slainte
...........kauri


----------



## wayneL

*Re: GBPUSD*



Kauri said:


> So _unexpected _were his commennts...




Jeez that floored me too... woulda thunk it? :


----------



## Kauri

*Re: GBPUSD*

Tri. might not be the best... it may shuffle about and reset the lower line yet... but has my attention...

Cheers
............Kauri


----------



## Kauri

*Re: GBPUSD*



Kauri said:


> Tri. might not be the best... it may shuffle about and reset the lower line yet... but has my attention...
> 
> Cheers
> ............Kauri




 Looks a tad more regular now..

Cheers
...........kauri


----------



## Kauri

*Re: GBPUSD*

the only support I see is* possibly* oppie defence around 180 area...
 the Uk chancellor is a darling to the bears...

Cheers
........Kauri


----------



## wayneL

*Re: GBPUSD*



Kauri said:


> the only support I see is* possibly* oppie defence around 180 area...
> the Uk chancellor is a darling to the bears...
> 
> Cheers
> ........Kauri



Looks like the verdict is in on McBean's mortgage plan.


----------



## Kauri

*Re: GBPUSD*

Will the FT piece about darling getting it wrong save the cable, because nothing can save his job...
Cheers
...........Kauri


----------



## caribean

*Re: GBPUSD*

That's a decent gap waiting to be filled?


----------



## Kauri

*Re: GBPUSD*



Kauri said:


> the only support I see is* possibly* oppie defence around 180 area...
> the Uk chancellor is a darling to the bears...
> 
> Cheers
> ........Kauri




 180 defended again... by a Swiss mob.. I thunk..
Cheers
..........Kauri


----------



## noirua

*Re: GBPUSD*

British Pound is plunging against all the worlds currencies as confidence suddenly descends.
Rate in London is now £1.80 to the US$ - down about 12% in the last 4 months - and £2.108 to the Aussie. Au$ slips slightly at A$1.17 to the Greenback - down about 11% in recent months.


----------



## Kauri

*Re: GBPUSD*



noirua said:


> British Pound is plunging against all the worlds currencies as confidence suddenly descends.
> Rate in London is now $1.80 to the US$ and £2.108 to the Aussie.





In an interview that appeared in the Saturday UK Guardian, UK Chancellor Darling is quoted as saying that the UK is facing "arguably the worst" economic downturn in 60 years which will be "more profound and long- lasting" than people had expected. The Guardian article stated that Darling admitted that he had no idea how serious the credit crunch would become.
Later in the weekend Darling took the airways to "clarify" his comments saying that he was referring to global economic conditions rather than those in Britain.
He has since appeared on TV saying he meant the world.. not UK specifically, and theFT has run a piece saying he got it wrong.. but it hasn't raised a bounce... yet?? US LaboUr Day hols too I thunk..and the Cannucks are off as well?? so thin whippy trading tonight??

Cheers
..........Kauri
Cheers
...........Kauri


----------



## Kauri

*Re: GBPUSD*



Kauri said:


> Will the FT piece about darling getting it wrong save the cable, because nothing can save his job...
> Cheers
> ...........Kauri



and moving along nicely thanks to oppies and a raft of stops getting targetted..
Cheers
..........Kauri


----------



## caribean

*Re: GBPUSD*



caribean said:


> That's a decent gap waiting to be filled?



...eventualy.


----------



## Kauri

*Re: GBPUSD*

The OECD predicts that the UK economy will shrink by 0.3% this quarter, and by 0.4% in Q4 (BBC website). This would constitute a UK recession. 
    In the middle of last month, a major US bank wrote that "it would not be a surprise" to see GBP/USD fall to 1.5500, its average level between 1993 and 
2002, in the next 12-18 months (1.3682 was the June 2001 low). 

Cheers
.........Kauri


----------



## BentRod

*Re: GBPUSD*



> That's a decent gap waiting to be filled?




Maybe we are going to fill the one at 1.64ish first?:


----------



## Wealth Wizard

*Re: GBPUSD*

lets see if the short hits my target, will be a nice R:R if it does


----------



## caribean

*Re: GBPUSD*



BentRod said:


> Maybe we are going to fill the one at 1.64ish first?:



Lol, yeah i vaguely remember of a gap not getting filled long time ago, i may have got stopped out trying for a fill, i'll check that...


----------



## Kauri

*Re: GBPUSD*

go spend up Wayne and help put the sparks back into Debs...   

UK retailer Debenhams says it has not breached banking covenants (reported by Reuters). 
*Rumoured* "*problems*" at Britain"s second-largest department-store company were flagged as a factor in cable"s fall from 1.7665. 
Cheers
............Kauri


----------



## Investor123

*Re: GBPUSD*

GBPUSD is too wild for me to trade.


----------



## BentRod

*Re: GBPUSD*

Cable is almost 8 big figures lower since we last checked it out. .


----------



## BentRod

*Re: GBPUSD*

I can't get over Cable.

I thought it may have been forming a temporary bottom with that last formation, not the case though.

Over seventy big figures lower in just over a year.
Amazing.


----------



## CanOz

*Re: GBPUSD*

Bent, did you read Jimmy Rogers comments on it yesterday? Ditch it he said!


----------



## BentRod

*Re: GBPUSD*

No buddy, missed it.

Got a link??


----------



## Stormin_Norman

*Re: GBPUSD*

with the mess the british banks are in, im not surprised its headed south; especially combined with some general USD strength.


----------



## 1080p

*Re: GBPUSD*

Jobless claims are out tonight in the UK which may give it a further nudge in the same direction.


----------



## CanOz

*Re: GBPUSD*



BentRod said:


> No buddy, missed it.
> 
> Got a link??




www.bloomberg.com

It was a story from yesterday.

If i find the specific link i'll post it,

Cheers,


CanOz


----------



## Page

*Re: GBPUSD*

*GBPUSD*

Yesterday Plunge to its 23-year bottom at 1.3620, following smash below 1.4350, 31 Dec 2008 bottom, support. Rebound, shy of 1.4048, and warn of further weak point towards 1.3519.

*Resistance*: 1.3992, 1.4030, 1.4048, and 1.4068

*Support*    : 1.3840, 1.3775, 1.3715, and 1.3690


----------



## Wysiwyg

*Re: GBPUSD*

Well I have another bearish pennant example that is approaching its moment of validation.The support and resistance lines are converging to an apex and the mast is significant in stature.

Note that on odd occasions these continuation patterns can and do reverse.


----------



## BentRod

*Re: GBPUSD*

Watching that one too W.

Sometimes these types of patterns are good to use reverse stops with.
EG...taking a long right now with a reverse stop just outside the bottom border.

I'm already short cable so I can't do that....looking for a short on a bounce off the top border or a breakout below.


----------



## Wysiwyg

*Re: GBPUSD*

Good play bent, I hope you`re leaving some of those horse snapper and kingies to breed.


----------



## BentRod

*Re: GBPUSD*

My was Short triggered @ 137.34....will see if it's got legs.

Euro selling off too...news out in 8 mins.


----------



## BentRod

*Re: GBPUSD*



> I hope you`re leaving some of those horse snapper and kingies to breed.




I released the King in my other photo(we tagged and released 14 that year). I kept the mulloway above, only because it took me over 1000hours to get, I'll release all the others


----------



## sinner

*Re: GBPUSD*

Just taking little bites in the overall trend, a bit of Friday night cash ya know.

In short at 1.3672 out at 1.36605, +11 pips when the bar hit the 20, 2.0 bollinger band and stochastic on the 1 min chart bottomed.

EDIT: 

..and again..

In at 1.36851 out at 1.36544 +30pipsish, in at top Boll band out at bottom.


----------



## BentRod

*Re: GBPUSD*

I'm out if it touches 136.20

If not, I'm out just before the News.


----------



## BentRod

*Re: GBPUSD*



> My was Short triggered @ 137.34




Out @ 136.35.


----------



## Wysiwyg

*Re: GBPUSD*

Typing of the news, according to FF the prelim. GDP q/q has the most impact on the Pound due to being the first release of three releases.

The forecast is waayyy negative and this graph shows the sharp decline in Gross Domestic Product.



> Measuring GDP is complicated (which is why we leave it to the economists), but at its most basic, the calculation can be done in one of two ways: either by adding up what everyone earned in a year (income approach), or by adding up what everyone spent (expenditure method). Logically, both measures should arrive at roughly the same total.


----------



## BentRod

*Re: GBPUSD*

EURGBP might make a good short if cable bounces after the news.


----------



## Wysiwyg

*Re: GBPUSD*

And the result is -1.5% which is worse than forecast.


----------



## 1080p

*Re: GBPUSD*

That was an ugly number.  Not that surprising though.


----------



## BentRod

*Re: GBPUSD*

Looks like it is selling of more after the news W.

Monthly chart below.

I don't like drawing the trendline through the bars but it's the only sense I can get out of the cable chart right now.

Looks like a support zone a touch lower than where we are now.


----------



## IFocus

*Re: GBPUSD*



BentRod said:


> Out @ 136.35.




Nice catch no need to release those pips


----------



## sinner

*Re: GBPUSD*

Hi guys,

Large gap down and the strongest oversold reading on the 1h stochastic in months make this a good long opportunity today imho (at least until London open). Exit would be at or near gap fill. Let's say the 50MA (grey line)

A bit of early morning scalping for me before Hong Kong opens as I don't have time for a proper position today. 

Got my +10 pips and I'm out. Literally within 5 mins of waking up! Might revisit the markets during the London session but it's beautiful and sunny here in Sydney for the first day in a few so I'm gonna go out and enjoy it thanks to the GBP!

Have a good one kiddies!


----------



## sinner

*Re: GBPUSD*

Is it just me on this pair?

Long at 14228 at 5PM, been goin up and down since then.

Not looking as good as it did 5 mins ago!


----------



## CanOz

*Re: GBPUSD*

Hmmm, i'm short!



CanOz


----------



## fapturbo

*Re: GBPUSD*

You guys should take a look at this system by a guy named Matt Sharp

I'm not trying to spam here, just thought some of you guys/girls here might be interested. All for the greater good.

It is definatley worth your time checking it out.

http://www.fivetictrading.com/forex/Fxlivetrade/Fxlivetrade.html

I'm not going to get in trouble am I?


----------



## Stormin_Norman

*Re: GBPUSD*

start a new thread.

as ive said before, those who can, trade. those who cant teach; or manufacture $200 EAs.


----------



## fapturbo

*Re: GBPUSD*



Stormin_Norman said:


> start a new thread.
> 
> as ive said before, those who can, trade. those who cant teach; or manufacture $200 EAs.




Nice......

The system is designed to trade GBPUSD 15min TF.

Normally I would agree with your comment. However this is a no bull**** system and it is definately a profitable way to trade. I would not post it otherwise.

When I say system, I mean a mechanical way to trade.


----------



## sinner

*Re: GBPUSD*

Wow looks like I missed a craaaaazy night! Gold trying to hit 1000 without me! Thanks for waiting 

Price action on this pair went way below my predictions but then proceeded to bounce up and hit my +40pip limit anyway. Looks like I could have placed it a lot higher. Regardless, nice way to earn some money while I was watching a great band from NZ called Kora (www.kora.co.nz)!

Lucky I wasn't home or I would have closed the contract when it broke 1.42. A bit silly of me to not place a stop loss before I left the house but was in quite a rush.

Thanks for posting your warning canoz, it was obviously warranted! A matter of poor timing on my part once again, still learning, will be adjusting my trading rules a bit in the coming weeks I think.


----------



## CanOz

*Re: GBPUSD*

I was short, then long, and then out too early. I've got to learn to trust my system

CanOz


----------



## fapturbo

*Re: GBPUSD*

I hope some of you traded that short...


----------



## fapturbo

*Re: GBPUSD*

GBPUSD looking to make another leg down. Confirmed by selling pressure at downtrend trendline resistance level on the daily time frame.


----------



## fapturbo

*Re: GBPUSD*

Might be jumping the gun a bit but first system trade is on.


----------



## fapturbo

*Re: GBPUSD*

First Position hit TP. Will move second position when this bar is finished


----------



## fapturbo

*Re: GBPUSD*

Stopped out on the second postion


----------



## fapturbo

*Re: GBPUSD*

Looking for a trend continuation entry


----------



## fapturbo

*Re: GBPUSD*

TP hit on Trend Continuation Entry.

That's me done


----------



## fapturbo

*Re: GBPUSD*

Another Long Entry on System Trade


----------



## fapturbo

*Re: GBPUSD*

First Position hit TP Target


----------



## fapturbo

*Re: GBPUSD*

Pushed Second Position to Break Even to reduce risk in an attempt to capture a trend breakout. Will move stop below each new upbar if dont get stopped out.


----------



## fapturbo

*Re: GBPUSD*

Break Even on the second part.

Will be looking for a trend continuation entry.


----------



## Wysiwyg

*Re: GBPUSD*

Dear fap, do you have to post your blank charts and every trade you make. 
Please, this is a forum where we share information and help each other.

Occasionally to highlight a pattern, trend change or something unusual are good starting points for a meaningful presentation. 

Please, not every trade you make.Thanks.


----------



## fapturbo

*Re: GBPUSD*



Wysiwyg said:


> Dear fap, do you have to post your blank charts and every trade you make.
> Please, this is a forum where we share information and help each other.
> 
> Occasionally to highlight a pattern, trend change or something unusual are good starting points for a meaningful presentation.
> 
> Please, not every trade you make.Thanks.




Oh, wasn't sure if I was being useful or not, so thought just keep posting.

Not blank... I'm showing the indicators that I'm using and showing the entry and exits.

I can cease if it will help.


----------



## fapturbo

*Re: GBPUSD*

One more for good luck...

Continuation Trade entry....


----------



## fapturbo

*Re: GBPUSD*

Hit TP. Okay enough of that.....


----------



## nunthewiser

*Re: GBPUSD*

unreal


----------



## fapturbo

*Re: GBPUSD*

Short getting set up for those interested.


----------



## Stormin_Norman

*Re: GBPUSD*

im fretting. im 3 pips out from clearing out on the bunjip with a take profit and i think the pound might open significantly weaker after this weekend's lloyd's fiasco.


----------



## sinner

*Re: GBPUSD*

Very aggressive buying and open interest on Cable late last week. As a contrarian indicator this would probably mean losses ahead, but I doubt we will see any significant gap down and it should be filled before any real move if there is one.

So take profits early.

Opening soon.


----------



## Stormin_Norman

*Re: GBPUSD*

yeah i plan to get out ASAP.

the bunjip is quite leveraged into its position, being on the wrong side of the late sell off on saturday morning.

im quite happy to take some losses, so that the whole EA doesnt suffer a major problem if the pound keeps tanking.


----------



## sinner

*Re: GBPUSD*

Hi again SN,

I do not know how the Bunjip works so cannot comment on what it might be telling you, but my own system indicates low probability of price action below 1.4072ish.

If anything currencies have responded strongly to quantitative easing and similar measures it seems.

That is all the comfort I can provide until open...oops, and I see we are just open with a gap up! Toldja  I tidy little profit of its own, that gap!

Congrats! 

I have been awake since 4pm yesterday, bedtime.


----------



## Stormin_Norman

*Re: GBPUSD*

yay!

not only did it not open down, it opened up! extra profits!

hoorary! happy dance time!

have a good sleep sinner.


----------



## BentRod

*Re: GBPUSD*

wow...Cable is getting wacked.

EDIT: Forgot the chart.

Hourly:


----------



## Stormin_Norman

*Re: GBPUSD*

i thought it would. just glad it didnt gap down on open!


----------



## BentRod

*Re: GBPUSD*



Stormin_Norman said:


> i thought it would. just glad it didnt gap down on open!




What's the excuse? 

Haven't checked the news yet.


----------



## Stormin_Norman

*Re: GBPUSD*

loyds getting nationalised. 500 billion dollar govt backing.

+ central bank announcing it was running the printing press.


----------



## BentRod

*Re: GBPUSD*



Stormin_Norman said:


> loyds getting nationalised. 500 billion dollar govt backing.
> 
> + central bank announcing it was running the printing press.




Thanks mate.

Never ends


----------



## sinner

*Re: GBPUSD*



Stormin_Norman said:


> yay!
> 
> not only did it not open down, it opened up! extra profits!
> 
> hoorary! happy dance time!
> 
> have a good sleep sinner.




Hi Stormin Norman,

Thanks, I had a great sleep. Working night shift is a boon and burden at the same time. 

Had some fun scalping this pair in the London pre-open price action but got smashed on my first ever fat fingers trade today! Placed a long at the very peak of strong 5min resistance (by my strategy) when I wanted a short! 



All my capital for tonight wiped out in one go. Will have to just sit on the sidelines and watch disconsolately what could have been amazingly profitable night. Since my nightshifts end tomorrow night I will not be able to trade for a while anyway adding insult to injury!

As I mentioned this morning, my bet for tonights action was overall downward (contrarian indicator against strong buying and open interest) and this is indeed what we have seen.

Congrats again on the take profit for Bunjip, you must be a proud dad!


----------



## sinner

*Re: GBPUSD*

Wow nobody has posted in this thread since I last wrote something?

Is anyone else watching the downward sloping channel which has formed on the 15m chart?

Plenty of range to trade tonight.


----------



## sinner

*Re: GBPUSD*

This is a fun game.

Scalping longs off the GBPUSD on the 15m:


----------



## Stormin_Norman

*Re: GBPUSD*

my pet bunjip loves waves too.


----------



## sinner

*Re: GBPUSD*

Should be an interesting night I think.

Any opinions? Looking dangerously close to breaking down but obviously waiting for the news.

Also watching E/U. Lots have gone short already, I am waiting for confirmation on the 4H.


----------



## i_in

*Re: GBPUSD*

buy limit 1.44 stop 1.43 tp 1.4950
gl&gt


----------



## sinner

*Re: GBPUSD*

Well, that was fun:

All shorts, approx 92.8 pips in a few moments  Way more than I needed for the night 

That will do me fine for the night, thought I would have to trade for the whole session.

Most recent trade at the top. The AUD/USD short was left from 9amish and closed at 6pm.


----------



## BentRod

*Re: GBPUSD*



i_in said:


> buy limit 1.44 stop 1.43 tp 1.4950
> gl&gt




So were you stopped out then??

Hard to tell as you never post any charts with your trades.


----------



## i_in

*Re: GBPUSD*



BentRod said:


> So were you stopped out then??
> 
> Hard to tell as you never post any charts with your trades.




may by you want to post end my statement too


----------



## BentRod

*Re: GBPUSD*



i_in said:


> may by you want to post end my statement too




That would be great.
I will look forward to it.

Posting charts when you do your one liners would also be great ol'son.

Cheers big ears.  :thankyou:


----------



## i_in

*Re: GBPUSD*



BentRod said:


> That would be great.
> I will look forward to it.
> 
> Posting charts when you do your one liners would also be great ol'son.
> 
> Cheers big ears.  :thankyou:




you don't pay my bills to do this for you


----------



## BentRod

*Re: GBPUSD*

I guess you just don't understand my point

Your one liner posts of I will blah blah blah  here with a stop there and a target there are  useless without a chart


----------



## sinner

*Re: GBPUSD*

I like pretty lines...

The chart has been remarkably well behaved tonight, I was expecting to see a lot of people getting chewed out tonight but the action has been largely predictable and everyone got their pips.

Except i_in :


----------



## Wysiwyg

*Re: GBPUSD*



i_in said:


> may by you want to post end my statement too




Hi i_in, you are posting from somwhere in Europe and you trade on MT4.It is good to have a poster from Europe.Your first post (the one about AUD/USD going to .7140 if it broke .6520 and 12 days early ) is a post *we* can all appreciate because you give reasoning with words and demonstration by chart on what you perceive will happen or on the actual trade you have taken.

We all make trades but it really is meaningless to everyone if there is no substance i.e reasoning, demonstration, indications, information.No one gives a ship otherwise.

Hope this helps.

p.s. what`s happening in Europe this spring time?


----------



## AbundantIncome

*Re: GBPUSD*

what's is the story with this one ?

cheers


----------



## i_in

*Re: GBPUSD*



AbundantIncome said:


> what's is the story with this one ?
> 
> cheers




Hi,
Story?! what story, no story, just some people are too scared of a few pips loss :>
anyway ...
Here's my views about a cable if you ask me
We have a crucial break and beginning at the 3 wave. target something round about 1.74
Who how and where will do it is a matter of personal choice
gl&gt


----------



## AbundantIncome

*Re: GBPUSD*



i_in said:


> Hi,
> Story?! what story, no story, just some people are too scared of a few pips loss :>
> anyway ...
> Here's my views about a cable if you ask me
> We have a crucial break and beginning at the 3 wave. target something round about 1.74
> Who how and where will do it is a matter of personal choice
> gl&gt






you are shorting arent you ? I am actually expecting upside as somewhere it is mentioned, it is about time ???


----------



## Stormin_Norman

*Re: GBPUSD*



how could he target 1.74 and be short on the current price of 1.48?


----------



## AbundantIncome

*Re: GBPUSD*

LOL ... oh silly me sorry heheheheheh .... i thought it was 1.47 lol 
thanks Norman for correcting me hehehehe ...



Stormin_Norman said:


> how could he target 1.74 and be short on the current price of 1.48?


----------



## i_in

*Re: GBPUSD*

no, I have no position here, currently holds long GBP/JPY and GBP/CHF, I can take it if You see 1.4620 - 4580 stop should be below 44 but it also depends where will be EUR/USD I have interest for long there and waiting for good buy


----------



## AbundantIncome

*Re: GBPUSD*



i_in said:


> no, I have no position here, currently holds long GBP/JPY and GBP/CHF, I can take it if You see 1.4620 - 4580 stop should be below 44 but it also depends where will be EUR/USD I have interest for long there and waiting for good buy





it is a patience testing game this business :d, but i am in for the short term so i only looking at 5 minutes chart, cannot wait for the roller coaster of longer term trade ....


----------



## i_in

*Re: GBPUSD*



AbundantIncome said:


> it is a patience testing game this business :d, but i am in for the short term so i only looking at 5 minutes chart, cannot wait for the roller coaster of longer term trade ....




m5 chart is a disaster for me! I don't like it and don't see good money there. Watch out!

EUR/USD should move up to 13240 than 12960 again and may by 26 but I will watch it later for this. I'm going to bed now

gl&gt!


----------



## i_in

*Re: GBPUSD*

scenario 1
if you go down below S1, then the counting is complete shi+


----------



## i_in

*Re: GBPUSD*

I think we will see a wonderful picture painted like second wave
gl&gt


----------



## AbundantIncome

*Re: GBPUSD*



i_in said:


> I think we will see a wonderful picture painted like second wave
> gl&gt




i think up movement is overdue dont you think ?


----------



## i_in

*Re: GBPUSD*



AbundantIncome said:


> i think up movement is overdue dont you think ?




movement is right for now


----------



## >Apocalypto<

*Re: GBPUSD*



AbundantIncome said:


> i think up movement is overdue dont you think ?




I think a down move is over due dont u?


----------



## Stormin_Norman

*Re: GBPUSD*

the UK is up sh|t creek. id be concentrating on downward set ups.


----------



## AbundantIncome

*Re: GBPUSD*



>Apocalypto< said:


> I think a down move is over due dont u?




 ... maybe ... the weekly and hours look like an upside trend though, maybe for a short term at least it could be pretty volatile 



Stormin_Norman said:


> the UK is up sh|t creek. id be concentrating on downward set ups.




maybe ... in the shorter term, looks a little up and down ... weekly looks upside and monthly is oversold so, long term in a few weeks is the target

plus all the s**** has been incorporated into the price I am sure as we have seen the drop of at least .4500 since August 2008 and no significant upside has been seen ...

just my novice opinion, please take it with a grain of salt hehehe


----------



## Stormin_Norman

*Re: GBPUSD*

looking at the daily chart a crash through the support it is current just above might herald another free fall.

look up how much bonds the british are attempting to sell.


----------



## AbundantIncome

*Re: GBPUSD*

what does your chart tell us ?

thanks


----------



## sleepy

*Re: GBPUSD*

Heres the alternative view ...

sleepy 

British Pound, Making Moves?
May 11, 2009 · By Adam · Filed Under Trading Tips & Techniques 

In this new short video, I will show you the steps I am taking to capitalize on a fairly substantial move I see ahead for this market.


http://broadcast.ino.com/education/british_pound_on_the_move/


----------



## i_in

*Re: GBPUSD*

buy on dip 
the chart is the same like a last above
gl&gt


----------



## i_in

*Re: GBPUSD*



i_in said:


> Hi,
> Story?! what story, no story, just some people are too scared of a few pips loss :>
> anyway ...
> Here's my views about a cable if you ask me
> We have a crucial break and beginning at the 3 wave. target something round about 1.74
> Who how and where will do it is a matter of personal choice
> gl&gt




exactly 1.7663


----------



## strategist

*Re: GBPUSD*

H4 graph
   Level 1.6240 ("H" trend line) has unleashed its force again making the pair go for a correction. But current trend is still a downtrend with the lowering target set to level 1.5900 (due to the fact that the pair is being traded below the lower bound of “B-B+” daily uptrend). The pair is supposed to find a resistance at level 1.6580 (crossing of “B” and “K” trend lines), but also it may start going down before getting to this level. Unlike the rest of main pairs, GBP has lesser down-trending impulse against dollar owing to the picture over EUR/GBP, where we can see a rapid dropping of that pair.
    In order to reinforce the pair’s down-trending attitude, it needs to get under support 1.6240 (“H” trend line), and then under level 1.6100 (crossing of “Z” and “P” trend lines). After that the pair will get to 1.5900 (the lower bound of “C-C+” weekly uptrend).


----------



## Tradesurfer

Looks like on the daily chart the GBP/USD pair is about to break an uptrend line. Potential short entry with a buy stop back above the old 1.66 high.

Chart shown has the currency etf FXB which looks to replicate the GBP/USD pair but using an exchange traded fund instead.

Cheers

Derek


----------



## Tradesurfer

Thx to a fellow asf post caught the bearish shooting star on the weekly chart. Nice short that started and continued to run down through the night.

Cheers for the heads up


----------



## Real1ty

No probs, hope you did well.

I'm still in.


----------



## Tradesurfer

I like that plug in (lower right) for the major econ news you show on the chart pic


----------



## Tradesurfer

jumped a bit but seems to have settled back down. Still short with a stop above the old high on last weeks candle


----------



## arco

.
Two shorts (short term trades) were indicated by my Ichimoku system yesterday (Aus time) giving 50 pips and 80 pips max.

TS cross - target Kumo support and

CS break confirmed with Evening Star derivative at resistance.





Weekly chart has been long since 1.5950 for a max of 1040 pips so far.





[img=http://www.freeimagehosting.net/uploads/th.d3b27e352a.gif]

GTA - arco


----------



## Kryzz

Decent retracement due? Looks like 5 waves up completed, hitting some resistance on the weekly chart, stochs overbought


----------



## arco

Hi shawnkris

Yes probably in the 5th wave position - not sure if its got more to go. 

*How do you plan to trade this?*

The H4 chart shows some bullish potential *if the CS breaks through the plot* for a move higher to the thin Kumo area (grey box) - circa 6700 perhaps. TS has already given a Golden Cross, and 6500 has been supportive.

arco


----------



## Kryzz

Hey arco

I'm currently demo-ing on shorter timframes so wouldn't be trading this but, If your bullish scenario proves to be correct, that might lead the way to for an a-b-c correction, the best short would be at the top of wave B around 6700, near the resistance, giving the best R:R. Wouldn't be surprised if price stalled around .650-.600, as it did june-august. Just a guess from an EW and Forex novice 

cheers, 

shaun


----------



## Tradesurfer

I'm loving all the different looks to the same problem so to speak. Thats so key for traders, have a strategy and trade it!

For me- still short with a buy stop at a little above the top of the weekly gravestone doji. Looks like a shooting star on some charting programs(not sure why the discrepancy)

If this keeps running down may move my buy stop to break even (sold around 1.67) instead of the high of the candle of about 1.70


----------



## Real1ty

I've moved my stop to 1.6585 to guarantee minimum 100 pips profit.

Also have a target of 1.6000 as there should be very solid support at 1.5980 but as with all my targets, they are not set in stone and i will assess if it gets down around that area.

The daily chart shows the first attempt to break the top of the Kumo failed and hopefully when another attempt is made it will be in the area of little thickness and less resistance.

Resistance above should be limited as the 50SMA is sitting on top of the current candle as many different pairs have respected this MA as both support and resistance recently, hope it continues  as well as the TS but i don't see this as much of resistance.

Downside support could come from the rising trend line as well as the lower Kumo and of course the 100SMA marked with an arrow.

Time to sit back and let this run and see how we go.


----------



## Real1ty

I'm out for just a 100 pip profit. Inflation news last night has seen a lot more interest in GBP overnight .
Good luck to those still in.


----------



## Kryzz

Real1ty said:


> I'm out for just a 100 pip profit.




Nice trade mate.


----------



## Stormin_Norman

im short, up about 40+ pips, went short on the 4h resistance, plus i thought the equity markets were due an off night tonight.

stop at break even now, lets see how far it goes.


----------



## Cartman

Stormin_Norman said:


> im short, up about 40+ pips, went short on the 4h resistance, plus i thought the equity markets were due an off night tonight.
> 
> stop at break even now, lets see how far it goes.




well done Norm/boyz ---- i'm actually waiting for the sweeping bottom turn off 1.64360 then jumping on the re-entry around 1.65200 and ride the dumper onto the sandbank from there ------ dont really see the long board nosediving just yet but the water is getting shallower   ---- if i miss this set i'll just have to catch the next one


----------



## Kryzz

Ascending triangle on the 4hr for the cable...anyone still short?


----------



## Tradesurfer

Still short based upon the weekly. If price breaks down below the pattern- 1.6200 target?

On the weekly chart at least 2 prior shooting star/gravestone doji patterns. On the third tried the short trade and still in.


----------



## caribean

Caught me by surprise not reaching my level at 620 on the 20th.... did the next day, my target 220ish, still only on intraday plays though, not holding anything overnight.


----------



## Kryzz

Approaching the lower boundary of the channel, looks set to break


----------



## Mr J

It does look out of puff doesn't it. I'd think it looks bearish on everything possible - broke a major trendline, ready to break that channel, ready to break a low from a week ago, solid downwards trend on a faster timeframe, solid resistance just above etc. It's also pretty clear that any indicator has probably shown divergence and indicating a reversal.


----------



## Tradesurfer

I believe it broke out of the channel (I am still short based on weekly- short entry around 1.67 and change

target 1.55???


----------



## caribean

long to 270ish for me


----------



## caribean

Hoorrrraaaaaaay!! the chat is finaly working!! (for me)
hmmm, pity there's no forex traders there


----------



## Mr J

Where'd the 270 come from?

I saw a lot of talk about a bear trap on forex factory, so I went short. Working so far . No, it was a short off a reaction from on an hourly trendline, hoping to ride it to the previous low and beyond. Low risk stuff.


----------



## caribean

Mr J said:


> Where'd the 270 come from?
> 
> I saw a lot of talk about a bear trap on forex factory, so I went short. Working so far . No, it was a short off a reaction from on an hourly trendline, hoping to ride it to the previous low and beyond. Low risk stuff.




Not prepared to divulge how i arrive at my targets.
All i can say is, there was at least 6-10 mini swing trades, both with and against the trend, but you were right , it did become apparent early that the previous bottom was the possible target.
If the mods have any objection with the lack of charts, i would not be offended at all if i was told, in any case, i have no plans of making a habit of this, i was just bored


----------



## Mr J

Sorry, I thought you said short at 270. I don't see why there would be an objection to a lack of charts. They can be interesting, but definitely not necessary.


----------



## caribean

So far a classic consolidation/break out, to the long side
what i love about fast intraday trading, you can change your mind quickly,
and of course you can stuff things up pretty quickly too


----------



## caribean

276 is the make or break level, not the previous high, IMO
it is also the level i was refering to yesterday.


----------



## Kryzz

You'd be pretty happy atm right caribean? What target are you looking for now if you don't mind me asking?
Next resistance seems to be at around 385ish


----------



## caribean

Hi Shaun, the levels you have there look interesting, but what i'm watching  for as well is what happenes at around 332 and 344 for a retracement to the high of 304, if that happens, then i watch for continuation long to around 390
And of course things might not work out like that at all 
Good luck with your trading.
Ohh, must add, as you prob. know the round #'s cannot be ignored either, close to levels we're looking at, what do you think?


----------



## Kryzz

caribean said:


> Ohh, must add, as you prob. know the round #'s cannot be ignored either, close to levels we're looking at, what do you think?




True, maybe a retest to around 400 then back down to recent lows, daily trend still looks to be rolling over, so in other words no idea lol


----------



## caribean

Anyone on the GBP tonight?


----------



## Stormin_Norman

caribean said:


> Anyone on the GBP tonight?




british holiday today remember.


----------



## caribean

Hey, yes i do, still trying tho 
i can never remember whats on, so i print the news calendar and have it right in front of me


----------



## caribean

Volume and spread on 6B still good


----------



## Oromis

Tradesurfer said:


> I believe it broke out of the channel (I am still short based on weekly- short entry around 1.67 and change
> 
> target 1.55???




I'm in two trades already else I'd be in this with you.
Good luck.


----------



## Glen48

1.55 hope so I was going for 1.6244
Fingers crossed and more to come I am sure


----------



## caribean

We're still in the Daily bouncing range, (even though we almost broke out of it) it would have to break out of this convincingly before the next major short target, again just my


----------



## caribean




----------



## fxmorgan

I have bought GBP/USD today


----------



## strategist

H4 graph
   The pair is trading under level 1.6335 (below the “C” trend line), which speaks in favor of dropping to level 1.5950. Some correction is developing now, which is supposed to be finished at 1.6335. I suggest selling from current levels with a stop set above 1.6385 and the target set to 1.5950.

   Alternatively, in case the market rises above level 1.6385, a “double top” trend-turning figure will be formed and the pair will set its target of growth to level 1.6510 and over. And if it then will rise above 1.6510, it will get to a huge free upper area, which it will be able to pass easily. If it will go that way, the target will be set to level 1.6900.








Daily graph (09.06.09)
   The pair rebounded from support level 1.6170 formed by the crossing of trend lines “H” (monthly trend line) and “D” (the lower bound of daily uptrend). This was followed by a drop below the lower bound of “C-C+” daily sideways trend with subsequent return to the channel. That fact speaks that there is a very strong support under the channel and now the pair will try to find a stronger resistance in order to test level 1.6170 again. But the pair may not find proper resistance since there are no strong resistances above level 1.6510, and by going above level 1.6510 the pair will break the “B-B+” daily downtrend, after which it is supposed to rise to level 1.6900. For the reasons above the pair either will turn from current levels for testing 1.6170, or it will eventually rise above level 1.6510.

   Two variants of events to proceed are seen:
1. In case the pair rises above level 1.6510, it will get to resistance 1.6900 / 1.6950.
2. In case the pair drops below level 1.6070, it will get down to support 1.5480.


----------



## caribean

Interesting development on the Pound, no other major followed yet,
and that 383 looks good once more, (or even 363) so does 277, to me at least 
Looking very forward to tonight.


----------



## strategist

GBP/USD

H1 graph
   The pair rebounded from resistance 1.6440 (the higher bound of “B2-B+” downtrend). During the rebound a “double top” trend-turning figure had been formed and executed, so the pair’s next drop target is now set to level 1.6310 – the lower bound of “Z-Z+” sideways trend. That sideways trend comprises another “double top” trend-turning figure itself, and the figure mentioned above is the right shoulder of this one. Generally speaking, a “diamond” figure is also seen within this large double top, but the “Z-Z+” has clearly outlined itself, so we should consider it primary. In case the pair drops below level 1.6290, the large figure will be executed and the next drop target will be set to level 1.6180. But first the pair needs to get under 1.6350 and keep itself from going above 1.6415, or else the whole trading plan is cancelled.


----------



## Kryzz

caribean said:


> View attachment 33007
> 
> 
> Looking very forward to tonight.




can say that again, just closed out a long after entering upon the break of 441, +52 pips for my fourth ever forex trade (helped out by Manufacturing Production news)


----------



## caribean

Kryzz said:


> can say that again, just closed out a long after entering upon the break of 441, +52 pips for my fourth ever forex trade (helped out by Manufacturing Production news)



Nice one Shaun, i was thinking it would head a bit lower, but it became obvious early the break of the low was a fake, not unusual for the Pound to overshoot hey?


----------



## Kryzz

caribean said:


> Nice one Shaun, i was thinking it would head a bit lower, but it became obvious early the break of the low was a fake, not unusual for the Pound to overshoot hey?




Thanks caribean, what are you gonna be watching the pound for now? Looks like its grinding its way back upto 6588 as im typing, double top maybe?

Chart over on FF pointed out a possible H&S topping pattern, which looks good too. The dailys below.


----------



## cashflow_08

Hey guys 
Heres a trade made yesterday. A good break and good distance away from the horizontal resistance got me in for 168 pips. I took away half my position at the red/ blue box resistance and let the other half ride. : )


----------



## caribean

Kryzz said:


> Thanks caribean, what are you gonna be watching the pound for now? Looks like its grinding its way back upto 6588 as im typing, double top maybe?
> 
> Chart over on FF pointed out a possible H&S topping pattern, which looks good too. The dailys below.




Obviously most likely a continuation of the long, but mindfull of possible fake at 1.6600, i trade the small TF's so anything possible.
Preferable scenario for me,retrace to around 1.6450 and then run to 1.6700, but only for me...: )


----------



## cashflow_08

Bearish Gartley on 1 hr if successful would project to the 161.8 area which is a retest of the primary trendline.


----------



## Mr J

More importantly, it's the support provided by recent highs.


----------



## caribean

cashflow_08 said:


> Bearish Gartley on 1 hr if successful would project to the 161.8 area which is a retest of the primary trendline.



Hey, you like using Gartleys?
Why 161.8% ? the harmonics are out of ...umm, well, harmony....
Nice trade you posted earlier.


----------



## strategist

H4 graph
   The pair is trading along the uptrend, which has a growth target set to a rather distant level 1.6900. Although that level is far away there are no serious resistances on the way up, so reaching that level is completely real. In order to continue the uptrend the pair needs to get over resistance 1.6590, while the nearest support is found at level 1.6535. The next support is located at level 1.6400 – a strong key level. We can speak about changing of current uptrend to a downtrend only if the pair drops below level 1.6365, and in such case the dropping target will be set to level 1.6170.


----------



## Tradesurfer

since I entered short at about 1.67 on a weekly chart-moved stop to break even and still holding short. My initial stop was the old 1.70 high- since trade went profitable moved buy stop down.


----------



## cashflow_08

Hello,

I dont usually use gartleys, but was playing with it for a few weeks to see its success rate and also provides a good warning area. Lol and my bad for using the 161.8 fib.

ok. the chart attached shows. The break had occured off the primary uptrend and in minor consolidation period. We may see channels, triangles, or a short uptrend, then finally zoom down making a downtrend. But first i need to spot a good LH for this to happen.

I agree with strategist. We may have some juice left for long trades .

Cheers,
c_flow


----------



## caribean

Beautiful resistance play last night on Pound, even the news release re test
was good, it doesn't get much better than that


----------



## i_in

in the next 20 hours this correction must acquire finished and to reverse up for 2000 pips
 Stop here for the longs must be below than 6330 as still have possibility descent to 6180, unlikely but not excluded
 BUY ON DIP
 GL&GT


----------



## Tradesurfer

In that picture looked like a little bearish shooting star candle as well. support and resistance lines have been drawn. New shorts should probably wait for a break below that support line you've drawn in there


----------



## i_in

you may interpret the chart as you want.
 I'm long from one pretty sexy level and add when I see a good opportunity, now I think it is


----------



## cashflow_08

Im bearish for 140 pips : /


----------



## >Apocalypto<

cashflow_08 said:


> Im bearish for 140 pips : /




Latest episode of star wars there Cashflow?


----------



## cashflow_08

I think im the good guy in it.   
(yea. charts pretty messed up but past s/r gives me alot infor too on bounces)


----------



## caribean

Well, i do have the occasional frustrated session, and last night was one of them.
 I was short for about 2 hours and got sick of waiting, knowing that (eventually) the US news will move it, but just could not wait any longer, exited, and i think about 15 min's later it dropped.
I'm a very active person, and sitting in front of these monitors with my **** on that chair for hours is not a lot of fun, even though i love trading the fast TF's....maybe I'll replace the chair with a treadmill or something like that.


----------



## i_in

:> chill
here's my plan for end of the week
GL/Gt


----------



## cashflow_08

was a good short . 140 pips in the bank 
Now we may have signs on long soon with the main daily inclined support.
Good luck


----------



## i_in

yea, i feel little cheated: <
respect cashflow_08, good deal
where's your target?!
I'll post counting in the weekends


----------



## cashflow_08

If the inclined bounce goes as planned, i'll be long and conservative target in 1h-4hr chart would be around 1.66-1.67 (230 pips) and 2nd tagart could be at 1.72. And later on , i may buy again later (scale in) if my other indiz say its alright too.

Just to look out in daily, we may have a head and shoulder formation and when it plays out, we could be short down (Way down). So it may be wise to take profit use 1hr-4hr chart. And also, the main trendline has been broken, and  i call the recent support a inclined support as it is only a support, that may push the price high for short term (maybe), its not a trendline which pushes it for a longer term.  So be careful and conservative.
Good luck


----------



## cashflow_08

Hello

Heres a chart. I wantd to show you the head and shoulders in progress in daily. If the bounce is valid from the H/S support than we may be long, but wont be that strong. Eventually it may keep bouncing and bouncing until it comes to the "down Trendline" and then from there it probably going to zoom down and may break the H/S support. But the break could happen even earlier, we dont know then : / .   

Just my 2 cents.

Cheers


----------



## i_in

with the cable never can't be too conservative....
Anyway, I don't believe in these patterns as H/S and such, believe that trend is up. for now seems normal albeit with some pips down than necessary, just spike. I think the picture remains the same, and will wait the price to show me, the stop of the last add from 6440 is only my thoughts and is below of the last bottom 61
gl/gt


----------



## cashflow_08

Two huge patterns from  Ichimoku and head & shoulders.  
one word, "short"!      after validation and your own analysis.

Cheers


----------



## i_in

:> absolutely, abc-x-abc 
let's see where will go c
I don't take short position against the trend
will wait decent
GL&GT


----------



## Kryzz

i_in said:


> :>
> I don't take short position against the trend



Is the trend not down _at the moment_?..short pending breakout of this little rising wedge/ending diagonal


----------



## i_in

Kryzz said:


> Is the trend not down _at the moment_?..short pending breakout of this little rising wedge/ending diagonal




don't know dude, for me is up and i scream about it from so long time!


----------



## Wysiwyg

Kryzz said:


> Is the trend not down _at the moment_?..short pending breakout of this little rising wedge/ending diagonal





Depends which time frame you are looking at really. Looking for a black hole maybe? :


----------



## caribean

Yeah, trend is a relative thing.....i think


----------



## Mr J

Forgot to check the calendar, and anyone watching could probably guess what happened .


----------



## Kryzz

Mr J said:


> Forgot to check the calendar, and anyone watching could probably guess what happened .




Me too  = -60 pips


----------



## caribean

Yeah, the old calendar is always printed and in view now....
been caught a few times before


----------



## caribean

Juicy looking reversal, we'll see how it pans out


----------



## Tradesurfer

still holding the original short off the gravestone doji weekly candle chart. Shorted at about $1.67. I've got my buy stop at break even. No predictions as I simply read and react using technicals. Best case- the pair trends down for a bit. I may lower by buy stop after the break of the 1.60 level but haven't decided yet. My initial stop was top of the candle high of about $1.70. Too bad negative roll on this pair from the short side. Good luck everyone.


----------



## caribean

Tradesurfer said:


> still holding the original short off the gravestone doji weekly candle chart. Shorted at about $1.67. I've got my buy stop at break even. No predictions as I simply read and react using technicals. Best case- the pair trends down for a bit. I may lower by buy stop after the break of the 1.60 level but haven't decided yet. My initial stop was top of the candle high of about $1.70. Too bad negative roll on this pair from the short side. Good luck everyone.



I find it impossible to hold a position that long, good luck to you.
I'm interested in the 1.5860ish level, you could say it is a bit over extended right now, but the sellers are only looking for any excuse to short this thing..can't argue with that, still, i will be looking for the retrace long, soon.


----------



## Kryzz

caribean said:


> I find it impossible to hold a position that long, good luck to you.
> I'm interested in the 1.5860ish level, you could say it is a bit over extended right now, but the sellers are only looking for any excuse to short this thing..can't argue with that, still, i will be looking for the retrace long, soon.




A retracement back around .6111 roughly would be interesting to see i reckon, hopefully good for shorts, or maybe see how this triangle holds up maybe? still questioning y i didnt go short when it smashed the most recent support.


----------



## Wysiwyg

Kryzz said:


> A retracement back around .6111 roughly would be interesting to see i reckon, hopefully good for shorts, or maybe see how this triangle holds up maybe? *still questioning y i didnt go short when it **smashed the most recent support*.




My big losses have come from a desire to be right.
The more I was determined to be right, the bigger the loss became. Damn hard to break that thinking even after becoming aware of it.


----------



## Kryzz

Wysiwyg said:


> My big losses have come from a desire to be right.
> The more I was determined to be right, the bigger the loss became. Damn hard to break that thinking even after becoming aware of it.




Yeah i know winning % doesn't add to expectancy, i still wana try and take as many setups as i can because i know the day i miss one, will be the runner I was after. (and yes i know there will be more so im not worried). I think i've interpreted your post correctly?


cheers


----------



## caribean

After a while (few years in my case) you can sense a good run is coming,
you can see it from the market behaving in a disorderly fashion, (and i don't mean just range bound),as if the commercial players are not participating? usually around future contract rollover, important, direction changing news expected, etc.
The thing is, in most cases TA shows me the most likely direction and even though most times there's two possible scenarios at play, it all becomes apparent in good time in the fast TF's, only problem, the window of opportunity is usually very small, and if entry is not executed right on cue, or on the re-test which happens very often (best way to shake out the weak ones), then R:R is out the window.


----------



## i_in

I see the perfect ratio here and added one more another long
GL/GT


----------



## i_in

why so quiet today in the themes of trade?! holidays or just missing of concept 
 hey, cashflow_08 I hope that everything with your short was successful and you are in the right direction already, well done again
gl&gt


----------



## Kryzz

got a short order in at the moment, testing some minor resistance on the hr chart, retraced 50% of the latest swing down too.

thinking bout cancelling it though, seems a little early still, not too many red candles atm also


----------



## cashflow_08

Hi
Just a start of a volcano spill. (mayb) 
A retest of the daily resistance is being observed here and if the retest and bounce goes well, we could enter short depending on your risk and analysis. I hold no responsibility. 

For now i cant project how much down it can do. Probably fibs can help or trailing stop.

Cheers


----------



## caribean

Kryzz said:


> got a short order in at the moment, testing some minor resistance on the hr chart, retraced 50% of the latest swing down too.
> 
> thinking bout cancelling it though, seems a little early still, not too many red candles atm also




Hey Shaun, great S/R you have there, it broke through but it may come back and test it as a support for further long?
Ihave no idea really.
We'll find out soon enough, good luck.


----------



## cashflow_08

We had a great week last week. Almost magical? But we had a few spikes here and there, if you were alert of news than you would of waiting like me. Patience is the key. Have a check list. tik tik tik trade 

Below is a basic chart of last week and who knoes where the market is heading now. A bounce of the recent tL? or a break? No one knows, only have to wait n see and if the check list is valid than proceed if not, patience.

Best regards,


----------



## Mr J

"Wait and see" applies to everything for me at the moment. Everything looks good for a reversal or retracement.


----------



## caribean

Kryzz said:


> A retracement back around .6111 roughly would be interesting to see i reckon, hopefully good for shorts, or maybe see how this triangle holds up maybe? still questioning y i didnt go short when it smashed the most recent support.



My favorite scenario was a short at this 1.6111ish level, however i did not believe it will be a simple touch and reverse affair, i might be proved wrong.


----------



## Kryzz

caribean said:


> My favorite scenario was a short at this 1.6111ish level, however i did not believe it will be a simple touch and reverse affair, i might be proved wrong.




touch and reverse it is , are you still holding your short caribean? 
I wasn't at home to take that trade unfortunately (again), dropped >130 pips after reaching that level, still falling as I type.

Sidenote: Do you just trade the cable, or other pairs also? I've been switching between the euro, yen, cable and aud, and have suffered a string of losses lately, i think because i have not been focusing on how the one pair 'moves', just a thought


----------



## caribean

Kryzz said:


> touch and reverse it is , are you still holding your short caribean?
> I wasn't at home to take that trade unfortunately (again), dropped >130 pips after reaching that level, still falling as I type.
> 
> Sidenote: Do you just trade the cable, or other pairs also? I've been switching between the euro, yen, cable and aud, and have suffered a string of losses lately, i think because i have not been focusing on how the one pair 'moves', just a thought




I missed the opportunity to enter on my "trial" Gomarkets account, but no problem another will become available soon enough.
Yes i mainly trade the Pound, for the simple reason that i have quite a few TF's displayed, and it requires a lot of concentration to trade the way i do.
Besides that, i do not like trading till late in the night, so some times i exit prematurely.


----------



## Kryzz

Looking to see if price can move to .6111 again, lets see if it can't make a new higher high and go for a run, in the interim looking for a mini breakout of this little wedge, decided im going to try and focus primarily on one to two pairs


----------



## white_goodman

heres my thoughts on the matter...


----------



## Mr J

Kryzz said:


> Sidenote: Do you just trade the cable, or other pairs also? I've been switching between the euro, yen, cable and aud, and have suffered a string of losses lately, i think because i have not been focusing on how the one pair 'moves', just a thought




If you use various methods of trading, it may be that you're trying to apply too much to too many markets, rather than focusing on the behaviour of a specific market. I don't think you need to focus on a specific pair to be successful at it, but I suppose it depends on the strategies being used.


----------



## Mr J

Beware of the dog:


----------



## Wysiwyg

Mr J said:


> Beware of the dog:




Nothing a bullet won`t fix.


----------



## cashflow_08

Mr J said:


> Beware of the dog:




lol. Probably have to get Steve Nison to put that in his up coming edition book.


----------



## Timmy

Mr J said:


> Beware of the dog:




That's funny.  Anyone see that article about Jackson Pollock putting his name into one of his paintings?  I read it and saw it immediately ... and thought, yep, that's what a technical analyst will see!  Sorry OT.


----------



## Tradesurfer

I can see the seminar advertisement now: Follow the dog to FX riches...

Think next week (on a serious note) is when ECB and Great Britain central banks come out with interest rate decisions or atleast some words to chew on


----------



## caribean

caribean said:


> My favorite scenario was a short at this 1.6111ish level, however i did not believe it will be a simple touch and reverse affair, i might be proved wrong.






Second touch.


----------



## cashflow_08

Good catch caribean.! Didnt see the horizontal support but traded it with the tL.


----------



## >Apocalypto<

sent some time on the GBP/JPY tonight as well as on the cable. all i can say great night on the short side!


----------



## Mr J

S&R, may be all one needs .



> Good catch caribean.! Didnt see the horizontal support but traded it with the tL




You would've had to been awake in the early hours of AM to catch it.

I missed the trendline though, unfortunately Quotetracker gives lousy 4hr support (only 10 days of data - god knows why) so I have to try and pick it out on the daily.


----------



## white_goodman

im short till 1.51 area, got in a week ago...

the pound is very bearish even with USD weakness it struggles to move up..


----------



## caribean

So far a classic reaction to fib levels, break down beyond previous low should
see as reaching 1.5700ish and 1.5550 and eventually 1.5300 even.
Further consolidation around this range area without serious break below might change the whole idea...then again, maybe not
Who cares?


----------



## caribean

cashflow_08 said:


> Good catch caribean.! Didnt see the horizontal support but traded it with the tL.




Ahh yes the TL was good too


----------



## i_in

What's going on here!? What's the sentiments these days :>


----------



## Tradesurfer

still short based upon original short entry after a bearish gravestone doji at about 1.67. Had my stop initially at the top of the wick about 1.70. Moved my stop to breakeven. Now just letting the trend do what it will do. 

Does seem to be some old support between 1.50 and 1.40. If it gets down there may have to tighten buy stops to protect profits in case of a reversal.

Since I entered off a weekly chart-been holding since about August 10th. No predictions, just trying to manage the trade. Slow moving trade.


----------



## i_in

ahaa, good deal, congrats, I still keep a few long and wait for better times as well to add long in euro 4620/40 I may post a count later
gl&gt


----------



## Kryzz

Why would a fall in inflation cause the pound to fall (in lamans terms please)? I understand it's below the target of 2%, and it was lower than forecast (according to FF), but isn't it still better than inflation rising? So low inflation domestically causes less demand for that country's currency?

I'm not complaining however as im short atm, just a bit confused!

http://news.bbc.co.uk/2/hi/business/8304028.stm


----------



## white_goodman

Kryzz said:


> Why would a fall in inflation cause the pound to fall (in lamans terms please)? I understand it's below the target of 2%, and it was lower than forecast (according to FF), but isn't it still better than inflation rising? So low inflation domestically causes less demand for that country's currency?
> 
> I'm not complaining however as im short atm, just a bit confused!
> 
> http://news.bbc.co.uk/2/hi/business/8304028.stm




i think you will find low inflation means less likely to raise interest rates.... basically means that there economy is weak... notice how well AUD did after the raise in rates


----------



## noirua

I'm betting on a rate of US$1.50 to the £1 and unless they take drastic measures in their Autumn 'Budget' in a few weeks time, I may go for US$1.30 to the £1.

There are great sums to be won or lost on the GBP/USD and of course, the GBP/AUD.

The run up to a General Election around May 2010 could influence the value of sterling.


----------



## Mr J

Reacting nicely to the trendline on the 4hr.


----------



## caribean

Maybe an intermediate, or major,top around 1.6500 ,i have levels above and below, not to mention another major TL,
Ahhh, predictions, predictions.
Or maybe just anticipations.


----------



## Mr J

Bugger bugger bugger. Missed the TL, despite keeping an eye on it for the last week.


----------



## Mr J

Hope nobody was caught long during the gbp news .


----------



## caribean

Mr J said:


> Hope nobody was caught long during the gbp news .



Was talking on a chat about the Euro and IFO, forgot all about the Pound news, and lucky was all out, when i saw it fall of the cliff.
Long now anyone?


----------



## cashflow_08

news is in favour after touching the resisatance line.
counter=quik profit if i can


----------



## Tradesurfer

On the daily 1.67 is some major resistance. New longs might wait until that is broken and then place stop a little below in case it violates what would be old resistance new support. 

Still short on a weekly chart trade-should be interesting to see if the USD continues an attempt to break the long term downtrend.


----------



## Kryzz

Follow up to my earlier post #9, looks like the cable might still have some legs left, got the abc down, touched the 38.2% retracement and took off again, breaking out of a minor downtrend channel too relabelled the last wave 5 to a running flat a-b-c, if it can push through the resistance at around 1.6785ish, we might see one more wave up imo (not sure about the EW running flat, fits the count though)


----------



## strategist

*GBP/USD forecast*

H4 graph
Having broken the “L-L+” channel the pair went for developing a downtrend. After retreating under level 1.6590 the market has formed a figure of (down)trend’s continuation and headed for testing of level 1.6465 (the lower bound of “B-B+” daily sideways trend).

If the pair eventually drops below level 1.6465, it will get to key support 1.6325 (K trendline). Otherwise, if the market goes for correction from the current level, it will find resistance at level 1.6590, from which we should expect repeated testing of 1.6465.


----------



## strategist

H4 graph
The pair is trading along a wide sideways trend, but on its way it gradually drops down, confidently and constantly, by breaking support levels on and on. As long as the market stays below resistance 1.6665 and above support 1.6330, it resides a neutral zone.

Let’s examine the variants of events to proceed:
1. In case the pair drops below a key support 1.6330, it will get to support 1.6110.
2. In case the pair rises above resistance 1.6665, it will get to level 1.6820, and maybe even to 1.6900 (I consider this variant to be less probable then the first one).

Trading recommendations:
Sell below 1.6330 with the target at 1.6110.
Buy above 1.6665 with the target at 1.6820.


----------



## Tradesurfer

Thinking about the recent strength in the USD, does is this the calm before the storm up or down?

Who will raise rates first?


----------



## strategist

*GBP/USD*

H4 graph
The pair rose above level 1.5130, which implies breaking of the “B-B+” downtrend. For this reason, in case the pair rises above level 1.5230, we should expect it to reach level 1.5410 (the 4th wave). We may try buying above 1.5130 with the target at 1.5410 and stop loss below 1.5090.







Daily graph
After rising above level 1.5130 the pair got a possibility to leave the “B-B+” downtrend. In case it will get over level 1.5230, the pair will reach its target level 1.5410 (the 4th Elliot wave, a correction wave). Upon the fact of reaching that level I expect a downtrend to develop having the drop target set at level 1.4350 (the 5th wave).

Alternatively, if wave picture fails and in case the pair rises above level 1.5550, then upon the fact of leaving the “F-F+” weekly downtrend the pair will get to level 1.6000 - the higher bound of the green downtrend.


----------



## cite3726

1.48/1.50 some longer-term players getting in, but toe in the water only to assess strength.  Fills were easy but becoming a little more patience required.

Thoughts from anyone?


----------



## MRC & Co

Strategist, that's gotta be some of the sh*ttest price analysis I've seen yet.  Your charts are like sphagetti and identify nada.


----------



## Largesse

posting when hung = lolz for everyone


----------



## MRC & Co

Largesse said:


> posting when hung = lolz for everyone




ha ha, don't think I'm hung, still smashed!  

But in all seriousness, that chart is a mess.  There are lines there that aren't even proper trendlines!


----------



## white_goodman

MRC & Co said:


> Strategist, that's gotta be some of the sh*ttest price analysis I've seen yet.  Your charts are like sphagetti and identify nada.




pppft you noob, cant you see the descending elliot wave count with a ABC pattern followed by a Gann fib expansion, with a butterfly pattern


----------



## Naked shorts

Hey man, PTJ uses Elliot wave, dont bag it!


----------



## noirua

UK has its Annual Budget by the Labour Chancellor on Wednesday 24th March. A General Election is due anytime and most likely on 6th May. UK has debts of about A$1.6 trillion and a deficit in their tax year to 5th April estimated at about A$260 - A$280 million.
Tax receipts have dropped and despite the increase in VAT (value added tax on goods purchased) by 2.5%, back to 17.5% it is likely to do little to balance the books.
The Labour Chancellor is unlikely to do much with the General Election due and knows the grey vote and the main body of supporters in Mid-England and the North must be kept onside, voting wise.
The election result looks uncertain, but many point to a Labour/ Liberal Democrat Aliance or a Conservative Government with a small majority.


----------



## noirua

noirua said:


> UK has its Annual Budget by the Labour Chancellor on Wednesday 24th March. A General Election is due anytime and most likely on 6th May. UK has debts of about A$1.6 trillion and a deficit in their tax year to 5th April estimated at about A$260 - A$280 billion.
> Tax receipts have dropped and despite the increase in VAT (value added tax on goods purchased) by 2.5%, back to 17.5% it is likely to do little to balance the books.
> The Labour Chancellor is unlikely to do much with the General Election due and knows the grey vote and the main body of supporters in Mid-England and the North must be kept onside, voting wise.
> The election result looks uncertain, but many point to a Labour/ Liberal Democrat Aliance or a Conservative Government with a small majority.



Correction line 4.


----------



## strategist

H4 forecast
The pair is trading along the uptrend, which had the target at level 1.5195. If gbpusd rises above this level, the new target will be seen at level 1.5410 (“X” trendline). Also in such case the “double bottom” figure will be executed.
Otherwise, if the pair fails continuing upside and drops below level 1.5130, we may expect it to get down to level 1.4950 (“a” trendline).







Daily forecast
After rising above level 1.5130 the pair got a possibility to leave the “B-B+” downtrend. In case it will get over level 1.5230, the pair will reach its target level 1.5410 (the 4th Elliot wave, a correction wave). Upon the fact of reaching that level I expect a downtrend to develop having the drop target set at level 1.4350 (the 5th wave).

Alternatively, if wave picture fails and in case the pair rises above level 1.5550, then upon the fact of leaving the “F-F+” weekly downtrend the pair will get to level 1.6000 - the higher bound of the green downtrend.







Weekly forecast
(See daily graph)
The pair is trading along the “E-E+” downtrend having the drop target seen at level 1.4355. Level 1.5410/60 (X trendline) is now the level of turn and resuming of the downside - this is variant #1.

Variant #2 is going to happen on a special case, if level 1.5460 (X trendline) won’t manage to keep the pair from the upside and it gets above level 1.6000. Then the “E-E+” downtrend won’t exist anymore and the pair will reach level 1.6950 (F trendline). After that, if the pair gets over 1.7000, it will eventually end up at 1.8530.

Variant #3 is also worth discussing:
If the downtrend is still very strong after getting down to level 1.4355, the pair may drop to 1.3650 (R trendline from monthly graph).

There is also variant #4:
If the pair loses its downside momentum after getting down to level 1.4355 and rises above level 1.5410, the downtrend will fade and the market will go up to level 1.6950. Next, similarly to variant #2, a “double bottom” figure will be formed and the pair will then rise above 1.8530, to level 1.9500.


----------



## strategist

H1 graph
The pair is trading within the sideways trend (striving to transform into downtrend), having rebounded from support 1.5235. The will be staying in a neutral zone while it is located below level 1.5315 and above 1.5210.

There are two variants of events to proceed:
1. It consists of three waves. In case the pair drops below level 1.5210, a potential of drop to level 1.5160 (“a” trendline - the lower bound of H4 uptrend) will emerge. The second stage will begin with rebound from 1.5160. A correction to resistance level 1.5235 may take place right after that, after which the downtrend will be resumed. If then the pair gets down below level 1.5160, it will get to support 1.5070 (“B” trendline - the lower bound of daily uptrend). If during Stage Two level 1.5235 fails keeping the pair from rising and the market gets above level 1.5310, further upside to level 1.5410 will become possible.

2/4. In case the pair rises above level 1.5315 (“z” trendline), it may continue rising to level 1.5410.





Support
1.5235 (intermediate), 1.5160 (strong) and 1.5070 (key)

Resistance
1.5315 (intermediate) and 1.5410 (key)


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## strategist

*Forecast for this week, 19-23. H4 graph (dated 04/26/10)*
After leaving the “B-B+” uptrend (going under level 1.5333) the pair is now trading along the downtrend having the drop targets seen at level 1.5137 (first) and 1.4940 (second). Level 1.5137 may become a strong support, and so when the market will retrace from it the pair will get a good chance to form the right shoulder of a “head and shoulders” trend-turning figure. If the pair takes this chance, the shoulder formation is supposed to be finished around resistance levels 1.5333–1.5382, from where the pair will continue downtrend development with the drop target set to level 1.4940 (1.4815).

Developing of an uptrend is possible only in case the pair rises above level 1.5450. If so, the pair’s upside target will be set to level 1.5800.








*Forecast for this month, April. Daily graph (dated 04/26/10)*
The pair is trading along the “N-N+” correctional uptrend of the 4th wave. The pair has reached a strong resistance level 1.5493, and we can see at H4 graph that a “head and shoulders” trend-turning figure (namely its right shoulder) is being formed now, which points at possibility of downtrend development.

In case the pair goes under level 1.5205 the market’s downside momentum will be amplified, leading to drop at level 1.5000 (key support). If the pair also goes below 1.5000, the current 4th correctional wave will be completed and the pair’s drop target will be set to level 1.4355.

An uptrend development may begin if the pair rises above level 1.5575 and then gets to key resistance level 1.5870 (the higher bound of weekly downtrend). If the upside continues above level1.5870, the pair will get to intermediate resistance 1.6150, and in case of further rising the upside target will be set to resistance level 1.6500.


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## strategist

Forecast for the week, 05/17 – 05/21
The pair is trading below the “a” trendline along a downtrend. It has reached key support 1.4260 recently. The lower bound of “E-E+” trend, “E” trendline, also passes through that support. Support 1.4260 is a very strong level, and so we may expect an uptrend to develop from there in case the pair rises above level 1.4500. If so, it will then get to resistance 1.4700. Upon further upside above that level the upside momentum will grow stronger and the pair will reach resistance 1.5130.

Otherwise, if the pair goes below level 1.4100, the downtrend will be resumed and the market will head to level 1.3690.







Monthly forecast, May – June
The pair is trading along the “B-B+” downtrend rebounding off key support level 1.4260. Also, the lower bound of “E-E+” downtrend passes through that level. Therefore, the market gets two variants of events to proceed:

1. In case the pair rebounds off current support 1.4260 and rises above level 1.4700, an uptrend will start to develop with the upside target set at resistance level 1.5500 (the higher bound of “E-E+” downtrend). Intermediate resistance will be found at level 1.5130, and then a correction to support 1.4700 may proceed. Next, if the pair rises above level 1.5130, resistance will be seen at level 1.5330.

2. If current support 1.4260 fails keeping the pair from downside attempts and the market drops below level 1.4100, next drop target will be seen at support level 1.3690.







Quarterly forecast, May – July
After touching key support level 1.4260 the pair is trading along the “E-E+” downtrend. That support level may become the endpoint of current downtrend, and even the starting point of an uptrend if the market rises above level 1.5450.

Upon rising above level 1.5450, an uptrend will be developed with the upside target set at key resistance level 1.6900, from where a correction to support 1.5450 will be possible. Next, if the pair goes on above resistance 1.6900, the upside momentum will go stronger and the pair will head to resistance level 1.8530.

Otherwise, if level 1.4260 fails keeping the pair from downside attempts and the market drops below level 1.4100, the downtrend will be resumed and the pair will get to support level 1.3230.







Yearly forecast, 2010 – 2011.
After touching key support level 1.4260 the pair is trading along a downtrend. If the market rises above level 1.5450, support level 1.4260 may become the starting point of an uptrend (taking into consideration the picture at weekly graph), and then the pair will get to key resistance 1.6900. A confident uptrend will be started as soon as the pair gets over that key resistance. In such case a “double bottom” trend-turning figure will be formed and the upside target will be set at intermediate resistance level 1.8530 (possibly accompanied by a correction to support 1.6900). If the market continues the upside after that, it will eventually find itself around key resistance 1.9800.

Otherwise, if the pair continues going down below key support 1.4260 and gets under level 1.4100, the downtrend will be resumed with the drop target set at intermediate support 1.3690. If the market continues the downside below that support, next target will be seen at support level 1.3230. That level is a strong support, however if the pair manages going under it, the downside momentum will grow even stronger, and the pair will eventually get to level 1.0000.


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## noirua

The UK has its budget tomorrow at mid-day UK time. This budget has been said by the Chancellor of the Exchequer to be the toughest budget in the history of the United Kingdom. UK debts are now far over £1 trillion and the country is adding deficit at around £160 billion per annum.

There will be a wailing and a nashing of teeth across the pond.


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## MRC & Co

noirua said:


> The UK has its budget tomorrow at mid-day UK time. This budget has been said by the Chancellor of the Exchequer to be the toughest budget in the history of the United Kingdom. UK debts are now far over £1 trillion and the country is adding deficit at around £160 billion per annum.
> 
> There will be a wailing and a nashing of teeth across the pond.




Yeh, should be good fun!


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## strategist

Current trend is descending with target 1.5647
Upward trend can start its development in a case of the pair movement higher the level of 1.5830, after that the arrival on the resistance level of 1.5963 will happen.


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## Boggo

Gone short on this setup for a giggle and for less than half the amount shown.
It's the only way to learn this forex stuff, you can't paper trade the psychology that comes with real $$ and posting your trades 

(click to expand)


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## sinner

Good luck Boggo, I haven't traded the old cable since mid August/early Sep.

Liquidity providers (banks, ECNs etc) are net short on GBPUSD for the first time in a while. Cable really does seem to lead the market sometimes.


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## Boggo

sinner said:


> Good luck Boggo, I haven't traded the old cable since mid August/early Sep.




Thanks sinner, I am just going off the chart signals only at the moment without considering other factors that I probably need to consider.
I have set aside x amount of $ to risk losing and no definite time period for this exercise, at the moment I am up about 16% after a couple of weeks but that in itself is a sucker trap.

Currencies may get interesting about 11:30pm tonight when the US announce their unemployment figures, $AUD parity perhaps ?


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## Boggo

Stopped out at 1.58660 as it came back up, profit of 1.9 times capital risk.

(click to expand)


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## Boggo

Gone long on this setup, stop now at breakeven.

(click to expand)


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## Boggo

Stopped out for 1.4 times risk.

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## SeM0s

*GBP/USD November 29, 2010*

Current Price: 1.5590







With our current bearish outlook on GBP/USD we would take any pull backs as shorting opportunities with the first target at the 1.5480 level and, in case of a further slide down, at the 1.5250 level.







(For Precise intraday entries, stops and targets, you may subscribe to our intraday buy and sell signals.)

Copyright  © 2010, the Trading Solutions, All Rights Reserved.

DISCLAIMER: This is a qualified estimation of the Market situation, which can prove, and has sometimes proven, to be incorrect. Trading in instruments involves high risk. Do not invest money that you cannot afford to lose. It is your money at risk, you must always invest it with prudence.


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## strategist

The pair is trading along an sideways trading pattern. An uptrend will start as soon as the pair rises above resistance level 1.5810, which will be followed by moving up to resistance level 1.5882.
An downtrend will start as soon as the pair drops below support level 1.5715, which will be followed by down to support level 1.5615.
Resistances: 1.5810, 1.5882.
Supports: 1.5715, 1.5615.


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## strategist

*Weekly forecast, 01/03–01/07*
The pair is trading along an uptrend, but its further upside is constrained by resistance levels 1.5590 and 1.5635, both of which had been tested last week.
We can expect an uptrend to continue in case the pair keeps rising above resistance level 1.5635, which will be followed by moving up to a strong resistance level 1.5725. Should the market get over that level too, it will get to key resistance 1.5800.

We can expect a downtrend to start in case the pair drops below support level 1.5545, which will be followed by moving down to support 1.5360. The nearest strong support is seen at level 1.5265.


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## strategist

*Forecast weekly, 02/14–02/18*
The pair is trading along a downtrend. We can expect the downtrend to continue upon the pair gets under support level 1.6000, which will be followed by moving down to support 1.5825, on the way to which level 1.5930 will serve as an intermediate support. As soon as support 1.5825 will be reached, a probability of correction towards resistance 1.6000 will emerge. But if it eventually gets under support 1.5825, we will expect the downside momentum to grow stronger and the pair to reach support 1.5590.
An uptrend will start upon the pair rises above resistance level 1.6105, which will be followed by moving up to resistance levels 1.6185, then to 1.6265, and finally to1.6445.


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## lowlife

That rally through the 1.626 barrier last night cost me dearly, thought there was good resistance there last night any thoughts? Just a big rally??? A little confused I must admit...


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## shulink

*GBP/USD technical analysis*

Base on the technical indicators,
Commodity Channel Index (CCI) is bullish for GBP/USD.
GBP/USD formed a bullish Price & Exponential Moving Average Crossover signal.
The 10-day simple moving average is bullish and moving up for GBP/USD.
GBP/USD formed a bearish Stochastic Crossdown signal.


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## Boggo

*Re: GBPUSD*

Noooo, cmon, pretty please with sugar on top 

(click to expand)


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## Boggo

Stopped out - next 1000 trades


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## Boggo

Boggo said:


> Stopped out - next 1000 trades




And this is an example of why you have stops in place, live to fight another day 

(click to expand)


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## Douglas Class

GBP/USD  DAILY as of Thursday, 14 March, 2013
 A Daily white body has formed (because prices closed higher than they opened).
For the past 10 Daily candlestick bars as of 13/03/13, there are 5 white candles versus 5 black candles.
For the past 50 Daily candlestick bars as of 13/03/13, there are 22 white candles versus 28 black candles with a net of 6 black candles.
A Daily long upper shadow has formed. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought)
The present wave patterns are:
fast amplitude (8%): bullish wave 2
Elliott Waves High Volatility has detected an Isolated Low at 1.48 one bar ago ; this is usually a bullish sign
British Pound / US Dollar is long term Bearish as the 144 days moving average of 1.57 is decreasing. The Relative Strength Index is at 27.86 in the oversold territory. The Relative Momentum Index is at 6.10 in the oversold territory. An important indicator for Elliott waves, the Elliott oscillator is at -0.04, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 36.12. This value is in the neutral territory.


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## Douglas Class

GBP/USD  DAILY as of Wednesday, 20 March, 2013
An Inside Day Narrow Range was detected by your Elliott Waves High Volatility on 19/03/2013. This is usually a trade set-up opportunity. Elliott Waves High Volatility has detected a Gann Swing or Pullback that is usually a bullish pattern
The present wave patterns are:
fast amplitude (8%): bullish wave 2
British Pound / US Dollar is long term Bearish as the 144 days moving average of 1.57 is decreasing. The Relative Strength Index is at 41.81 in the neutral territory. The Relative Momentum Index is at 24.82 in the oversold territory. An important indicator for Elliott waves, the Elliott oscillator is at -0.02, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 95.41. This value is in the overbought territory.


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## Douglas Class

GBP/USD  DAILY as of Friday, 29 March, 2013
The present wave patterns are:
fast amplitude (8%): bullish wave 2
British Pound / US Dollar is long term Bearish as the 144 days moving average of 1.56 is decreasing. The Relative Strength Index is at 50.43 in the neutral territory. The Relative Momentum Index is at 38.28 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at -0.01, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 51.87. This value is in the neutral territory.
Stochastic trigger a sell signal last Thursday.


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## andrehughes

GBP/USD Daily





The pair is located near the resistance of the 1.5025-1.5590 daily range where it has been rejected at the confluence of the resistance and the 200 period moving average.
 The price currently holds above its faster moving average and is pending a downside correction for the 1.5153-1.5683 ascendent wave.
 Further downside is expected.
 Sell at the current price with a stop loss at 1.5714 and a target at 1.5311.
 This provides a risk/reward ratio of 152/260.

GBP/USD H1




The pair has advanced higher inside its uptrend channel but has been recently rejected at the 1.5620 resistance and is pending a downside correction for its 1.5453-1.5685 ascendent wave while holding above both its moving averages.
 Further downside is expected.
 Sell at the current price with a stop loss at 1.5656 and a target at 1.5314.
 This provides a risk/reward of 73/270.


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## PipSafe

GBP/USD since 09.07.2013 till now was in a strong and consistent uptrend that buyers were successful in achieving the highest price of 1.68168. During this price uptrend, the price has been stopped from more ascending by reaching to the area of important Resistance Zone made of 5 peak prices date back to 2009(also 2011). Right now in daily and  h4 time frames, the price is under 5-day moving average that shows the descending trend and warns about more descending. Formation of Dark cloud Cover and Doji candlestick patterns in green area shows indecision market and vulnerability of ascending trend. RSI indicator is in saturation Buy area and with the next cycle confirms the top price of 1.68168   warns about price reformation during the next candles. Generally according to the formed signs until the top price of 1.68168  is preserved, price has the potential of descending.


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## PipSafe

As it was mentioned in the previous technical analysis of GBP/USD pair dated 2014.03.11, according to the formed technical signs, there was the potential for descending of price which finally happened.Sellers were successful in achieving the lowest level of 1.64661.Right now price is above 5-day moving Daily and H4 time frames that show an uptrend during the next candles.Price has formed a Top price with reaching to the specified resistance zone in the picture below and it has stopped from more ascend and has started a little descend with shows exit of some buyers from their trades.

According to the formed price movements in the chart, between the bottom price of 1.64661 and top price of 1.68209 ,there is AB=CD harmonic pattern with ideal ratios of 61.8 and 161.8 that with completion of the D point there will be a warning for descending of price.RSI indicator in H4 time frame is in saturation Buy area that confirms the current top price and warns about changing price direction.Generally until the top price of 1.68209 is preserved, price has the potential of descending. Currently the first sign for buyers is breaking of the D point of harmonic pattern in the price chart.


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## PipSafe

GBP/USD had an ascending trend without a noticeable reformation during the recent weeks that shows buyer certainty in reaching to the predetermined targets. The price could record the top price of 1.70000 in Weekly time frame which is fixed by descending candle(Shooting Star Pattern).The price by reaching to the resistance Up Channel edge and also the round resistance level of 1.70000 (buyers use these levels to exit their trades) has been stopped from more ascend and by forming a Harami candlestick patterns( possibility of formation of a top price and changing price direction)and fixing of it by  a descending candle has prepared the field for creating a top price and a descending trend.

Currently price is under 5-day moving average in daily and 4H time frames that warns about descending of price during the next candles.As it is obvious in the picture below, there is an AB=CD harmonic pattern between the bottom price of 1.62491 and the top price of 1.70000 with none-ideal ratios of 61.8 to 127.2 that warns about descending of price from the D point of this pattern.As it is obvious in the picture bellow, according to the formed movements, the price is in divergence mode with Stoch indicator and confirms the mentioned top price is Daily time frame which generally warns the possibility of changing price direction.Generally until the price level of 1.70000 is preserved, price will have the potential for reformation and descending.

*Technical Analysis of GBP/USD dated  2014.05.13*


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## Jason73

PipSafe said:


> GBP/USD had an ascending trend without a noticeable reformation during the recent weeks that shows buyer certainty in reaching to the predetermined targets. The price could record the top price of 1.70000 in Weekly time frame which is fixed by descending candle(Shooting Star Pattern).The price by reaching to the resistance Up Channel edge and also the round resistance level of 1.70000 (buyers use these levels to exit their trades) has been stopped from more ascend and by forming a Harami candlestick patterns( possibility of formation of a top price and changing price direction)and fixing of it by  a descending candle has prepared the field for creating a top price and a descending trend.
> 
> Currently price is under 5-day moving average in daily and 4H time frames that warns about descending of price during the next candles.As it is obvious in the picture below, there is an AB=CD harmonic pattern between the bottom price of 1.62491 and the top price of 1.70000 with none-ideal ratios of 61.8 to 127.2 that warns about descending of price from the D point of this pattern.As it is obvious in the picture bellow, according to the formed movements, the price is in divergence mode with Stoch indicator and confirms the mentioned top price is Daily time frame which generally warns the possibility of changing price direction.Generally until the price level of 1.70000 is preserved, price will have the potential for reformation and descending.
> 
> *Technical Analysis of GBP/USD dated  2014.05.13*




Looks like the pair has just bounced right off the lower support of the rising channel.


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## PipSafe

As it was mentioned in the previous technical analysis of GBP/USD pair dated 2014.05.13, according to the formed technical signs, there was the potential for descending of price which finally happened. Currently price in long term time frames such as monthly and weekly time frames is above 5-day moving average and warns about more ascending in long term interval of this currency pair. According to the formed price movements in the chart, there is a Crab harmonic pattern between the bottom price of 1.66980 and top price of 1.70616 that warns about descending of the price with completion of this pattern ending point. RSI indicator is in saturation buy area and it is in divergence mode with the price chart that warns the potential for formation of a top price and changing price direction during the next candles. Generally until the top price of 1.70616 is preserved, price will have the potential for reformation and descending and If the level of 1.70179 breaks, price will have the potential for descending to the round supportive level (OR R=S Level)of 1.70000.

*Technical Analysis of GBP/USSD dated 2014.06.20*


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## PipSafe

GBP/USD was in strong descending trend from the top price of 1.71905 that during this descending trend the sellers could record the bottom price of 1.60592. Right now price in long time frames such as monthly, weekly and daily is under 5-day moving average and warns about price decrease in long period of time.In Daily time frame the previous day candle was closed as a Doji candlestick pattern that shows the indecision for ascending or descending.

If this candlestick pattern  confirms (closing of ascending candle at the end of the day), there will be the potential for changing price direction.Currently according to the condition of this currency pair and its strong downtrend in recent days, price is in saturation sell area and warns about a slight reformation in Daily time frame.The first important warning for starting a reformation in downtrend and rise of the price is breaking of the resistance level of 1.61572 (the highest changing price level on the previous day).


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## Trembling Hand

GBP is getting a very nice lift with the first results.


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## CanOz

I only have the chart on my ipad but it looks like a case of sell the news?


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## CanOz

CanOz said:


> I only have the chart on my ipad but it looks like a case of sell the news?




Certainly was!!


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## PipSafe

GBP/USD during the recent week was in a strong and consistent downtrend that sellers were successful in achieving the lowest price of 1.55900.Right now price in long time frames such as monthly, weekly and daily is under 5-day moving average and warns about price increase in long period of time. As it is obvious in the picture below, price during the descending has touched the round supportive level of 1.56000 and has created the hammer candlestick pattern(in daily time frame).

According to the formed price movements in the chart, between the top price of 1.65229 and bottom price of 1.55900,there is AB=CD harmonic pattern with none- ideal ratios of 50 and 161.8 (also at CD wave there us another pattern with ratios of 38.2 and 2.24) that with completion of the D point there will be a warning for ascending of price. As it is obvious in the picture below, Stoch indicator is in saturation sell area and warns about ascending of the price during the next candles.


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## PipSafe

GBP/USD from 2014.07.15 had a strong descending trend with little reformation that shows the decision of sellers in reaching to the long term targets. This currency pair during its movement could record the low price of 1.56000.The price by reaching to the psychic level of 1.56000 could not pass it and retreated which the usage ability of this level can be seen in 1H time frame.

As it is obvious in the picture below, between the top price of 1.65293 and the bottom price of 1.56000, there is AB=CD harmonic pattern with the ratios of 50 and 161.8 that the D point of this pattern is completed and warns about ascending of the price.RSI indicator confirms the mentioned bottom price and it is in saturation sell area and also by being in divergence mode with the price chart warns about the price changing direction.Please note that If price rises and buyers success one of the price targets would be down trendline(made of three top prices). Generally until the supportive level of 1.56000 is preserved , the price will have the potential for reformation of descending trend and reaching to the down trendline .


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## PipSafe

Technical Analysis of GBP/USD Dates 2014.12.24

GBP/USD had an descending trend without a noticeable reformation during the recent weeks that shows Sellers certainty in reaching to the predetermined targets.The price could record the Bottom price of 1.54849 in 4H time frame which is fixed by ascending candle(Hammer Patterns).As it is obvious in the picture below, price during the descending has touched the Support Level (made of 2 bottom prices) and also the round supportive level of 1.55000 and has created the hammer candlestick patterns.

According to the formed movements in the chart, there is AB=CD harmonic pattern (Also the The Three Drives Pattern) with ideal ratios of 88.6 and 1.13 between top price of 1.58250 and the bottom price of 1.54849 that warns about changing price direction from the D point of this pattern.RSI indicator is in saturation Sell area and confirms the D point of this pattern by the next cycle and warns about the potential of ascending of the price during the next days.One of the important warnings for ascending of the price is formation of the candlestick pattern in daily time frame or closing of a ascending candle which prepares the field for ascending of the price.


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## FXTechstrategy

*Daily Technical Strategist on GBPUSD*

GBPUSD: Weak And Vulnerable

GBPUSD: With GBP now seen following through on the back of its Friday weakness, further decline is envisaged. This development leaves it targeting further downside but with caution. On the downside, support lies at the 1.5150 level where a break if seen will aim at the 1.5100 level. A break of here will turn attention to the 1.5050 level. Further down, support lies at the 1.5000 level. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, resistance resides at the 1.5300 level with a break aiming at the 1.5350 level. A violation will aim at the 1.5400 level and possibly higher towards the 1.5450 level. On the whole, GBP continues to retain its broader downside bias medium term but faces corrective risk


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## PipSafe

Technical analysis of GBP/USD dated 11.02.2015

GBP/USD from the top price of 0.71951 till now was in a downtrend that Sellers were able to achieve the lowest price of 1.49223.One of the sellers’ targets was the round level of 1.50000(and Down Trendline) that they were successful in reaching to it and the price was not able to descend more by reaching to this level. Right now this price level is one of the important supportive levels in front of the price.
According to the recent strong descending, price is in saturation sell area and there is the potential for ascending and price reformation.

Stoch indicator is in saturation sell area and in divergence mode with the price chart in weekly time frame that confirms the price level of 1.49223 and warns changing price direction during the next candles.In the range of formed bottom price there are Spinning Top , Inverted Hammer and Harami candlestick patterns that shows the possibility for formation of a successful bottom price in continuing ascending trend.


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## Stratanu

The pair formed a negative day reversal again reversing Fridays’ performance. A daily closing tonight below 1,5137 will resume the decline suggesting a 1,5100 undershooting!!
The indicators of the daily chart remain still well negative for now as well as those of the s/t charts suggesting further consolidation/ correction with however an upside bias. On the way up the Cable formed bearish divergences and this drop could be seen as a correction. The signals is however not very strong but try it anyhow.
I bought this morning the Cable here at 1,5160 with a stop at 1,5095.


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## Stratanu

The pair confirmed a weak closing but it failed to confirm the break of the support of the inside day at 1,5295. The closing below the 200 days line is however supporting further possible weakness!!
The levels to follow in the coming hours. While above the 200 days line we favour a recover!!
The indicators of the daily chart are at the line for now but those of the s/t charts are instead negative suggesting further weakness. Fresh and now clear bullish divergences are supporting a negative tone supporting lower levels with a s/t target now at 1,5261!!
I still waiting for a decent rebound to sell, possibly close to the 200 hours line, now found at 1,5403!!


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## Stratanu

The pair confirmed on Friday a strong closing well above the 200 days line, now again support at 1,5341! The weekly as well as the monthly closings were positive supporting further strength. 
The indicators of the daily chart are again well positive as well as those of the weekly one supporting higher levels; only those of the monthly chart remain below the line. The indicators of the s/t charts are still in positive territory supporting further strength; however, in the s/t have overbought conditions while showing potential negative reversals. The hourly RSI went however well above the 75% level, well into the range of a bullish scenery, failing however to form divergences.
I suggest waiting for a possible retracement toward the 200 hours line, now found at 1,5357, to buy!!


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## Stratanu

The pair confirmed a negative closing even below the opening forming a negative day reversal. Only a daily closing tonight below 1,5404 will however confirm a s/t top!!
The indicators of the daily chart are however still well positive for now while those of the s/t charts are showing a mixed picture suggesting some consolidation/ correction. Bearish divergences are still confirming the positive tone. Possible s/t pressure is therefore corrective and a buying opportunity.
I waiting for a possible extension of the correction toward the 200 hours line, still found at 1,5357, to buy!!


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## Stratanu

The pair failed to confirm Mondays’ negative day reversal forming instead a positive one suggesting another test on the upside. A daily closing tonight above 1,5450 will support higher levels!!
The indicators of the daily chart are still well positive for now while those of the s/t charts are however still showing a mixed picture suggesting further consolidation/ correction. Bearish divergences are still confirming the positive tone and since yesterday have now also a potential positive reversal suggesting a s/t target at 1,5572!! A move above 1,5450 will confirm the move up!!
I missed to buy the GBP as it never touched the 200 hours line and wait for a new opportunity!


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## peter2

That's disappointing. 
You picked the trend, identified the correction and the possible level for a buying opportunity but missed out by a few pips. 

You're going to say, that's trading, but I disagree. Your analysis on this occasion was perfect, but no trade was taken. That was an opportunity wasted. 

Overall, your chart analysis is quite good and identifies levels for trade opportunities. There's a huge difference between analysis and trading.


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## Wysiwyg

A rising wedge in a downtrend has manifested. A vote whether the U.K. stays in the European Union due on Thursday 23rd this month. With that vote still 15 days away this rising wedge will have broken one way or another before. My bias is down. Watching.


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## Wysiwyg

Zooming in on price now as it nears lower trend line. Low risk long entry with a stop below trend line? Watch those little (or big) spikes through to bust ur ass.


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## Wysiwyg

That low was a hard pick. 1.5000 level on the stay in EU vote achieved now.


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## Wysiwyg

From top to the present low. Fascinating hey.


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## CanOz

We are at 10x the average daily range....


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## Wysiwyg

CanOz said:


> We are at 10x the average daily range....



I must remember to backtest my stop loss with that range, just in case. :


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## CanOz

Wysiwyg said:


> I must remember to backtest my stop loss with that range, just in case. :




lol...


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## ukulele

anyone else trade the UK PMI?

was good for a quick 1:1, a little bit over 1R actually.


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## CanOz

ukulele said:


> anyone else trade the UK PMI?
> 
> was good for a quick 1:1, a little bit over 1R actually.




Nah, missed it completely...


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## ukulele

Yeah mate you win some and lose some. Looking back on it the follow through was on, it was good for more than 3:1. But we're all geniuses in hindsight. 

I expect big moves from AUD CPI coming up next week.


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## Jason Rogers

The Speculative Sentiment Index (SSI) readings for GBP/USD suggest the pair could be headed lower.

SSI is a contrarian indicator to price action, and the fact that the majority of traders are long cable signals it could have further to drop. The trading crowd has grown further net-long from yesterday and last week.




_Past performance is not necessarily indicative of future results._​

The ratio of long to short positions in the GBP/USD stands at 1.56 (or 1.56 long positions for every short position among retail traders) as 61% of traders are long. Yesterday the ratio was 1.52 as 60% of open positions were long.

The combination of current sentiment and recent changes gives a further bearish trading bias.


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## Wysiwyg

Easy 700 pips pickup. ld: Hypodermic needle for others,  :cwm10:



> What caused it?
> But why has the pound taken another pummelling, more than three months on from the referendum? The simple answer is'Brexit'.


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## daytradeprofit

*                 GBP/USD *




Today’s Economic Data showed that the Unemployment Rate in the United Kingdom in November remained unchanged, at 4.8%. The Average Earnings over three months including November added 2.8% y/y, which is more than the expected reading of 2.6% y/y. The Claimant Count Change in December was ‑10.1K after being 1.3K in the previous month and against expectations of 4.6K

Yesterday’s growth was caused by the speech of Theresa May, the British Prime Minister. Generally speaking, she didn’t tell much positive information.  For instance, she said that the country wouldn’t try to keep access to the EU market and wanted to work out and conclude a free trade agreement instead. May also mentioned the immigration problem. According to her word, the United Kingdom was going to control the number of immigrants better in order to keep the country’s employment market under observation




*                 GBP/USD ANALYSIS*
*
GBP/USD Technical Analysis:*
 GBP/USD rebound from 1.1980 continues. there is a strong resistance at 1.2470 -1.25530 and after that in 1.2774 to limit upside at 1.31-34 price area. On the downside, below 1.2188 minor support will turn bias to the downside for retesting 1.1946 low

In the big picture There is no sign of bottoming, only break of 1.34-37 resistance will confirm medium term bottoming. Otherwise, outlook will remain bearish.








*  GBP/USD TECHNICAL ANALYSIS*


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## Valued

daytradeprofit said:


> Otherwise, outlook will remain bearish.




I reached this conclusion myself but my short position is basically stuck at break even though. Some good data came out of the US last night but the market is stuck in a bit of a range and maybe it's just people being cautious if Trump says something bad. Fundamentally, I think the GBP/USD should be under pressure though but people have gotten caught up in Trump saying the US dollar is too high. I am a little worried about volatility over the inauguration though but I also figure the inauguration is an expected event unlike the election and maybe trump says something silly but that shouldn't cause a knee jerk move upwards so high that it would stop me out. He would have to do something really stupid for me to get stopped out by intra-day volatility. The whole idea of not being a day trader is large intra-day moves should be inconsequential or at worst unfortunate but manageable, but we live in interesting times.


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## MARKETWINNER

https://www.poundsterlinglive.com/u...l-sales-likely-to-reverse-the-current-uptrend


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## Dutchy3

For those with a D1 view of GBPUSD. Cheeky short on the basis of 5 waves completing on H4, terminations of corrective B wave on D1 and resistance level. trade out on H4 signals


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## History Repeats

too strong for short. stop too tight


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## Dutchy3

History Repeats said:


> too strong for short. stop too tight



for sure, way to cute


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## Athar dewidar

GBP / USD Technical Studies , forex GBP / USD Technical analysis from gold pattern
The GBPUSD is testing a short term resistance area if the pair stabilizes
Above the 1.3300 level, the GBP / USD is expected to rise to the 1.3370 level
In the case of the appear of reversal candles, such as 
 the shooting star candle pattern , bearish englfing pattern 
Or other Japanese reversal candle patterns
The pair is expected to fall towards the 1.3200 level
The GBPUSD formed the zigzag AB = CD when it rose
From the 1.3066 level, which is a sign of a possible decline for the GBP
Today's technical summary for the GBP and the currency analysis

It is preferable to wait for the GBPUSD to sell if it closes on
the hour frame near the 1.3250 level


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## Athar dewidar

GBP USD signals and technical analysis
The GBP / USD pair fell today
As noted in the previous GBP usd technical analysis  from Gold Pattern
The pair reached the medium term support level near 1.3050
At the same level, GBPUSD is testing the medium term uptrend line for the third time
The GBP USD chart also showed a large or expanded triangle pattern and the pair is testing
The lower descending line of the triangle for the third time near the support level 1.3050 which is considered Opportunity to buy as the technical analysis of the GBP usd
The pair also formed the bearish AB = CD pattern, which started
From the level of 1.3337 on the thirteenth of last October
All these indicators or price patterns suggest buying opportunities
Pound Sterling against the US Dollar on the Forex Exchange
Summary of the daily technical analysis of currencies and GBP
But so far the pair has not seen any significant rise above the support level
And therefore can buy now or wait to buy if the price close the pair near
the level of 1.3100 on the clock
GBP USD
buy @ 1.3050
tp1  @ 1.3120
tp2  @ 1.3150
sl    @ 1.3010


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## willoneau

Like to continue this thread as I am trading currency cfd's on the GBDUSD.


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## willoneau

My take on it at moment ,
daily bouncing off support at 1.28-1.265 with now resistance at 1.31-1.30,
my out looks this week is a continuation down and breaking through the support.
But and there is always a but when speculating, if it continues up this week a breaks above 1.32, then i expect it to go up to next resistance at 1.37


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## willoneau

One thing which is interesting if you read the post from exactly one year ago you can see we are at the same prices ,interesting.


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## willoneau

Which to me increases the strength of the resistance or at least supports it.


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## Cam019

Long GBPUSD @ 1.2806. Target area is 1.30000. R:R = 5.88:1


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## Cam019

Short GBP/USD @ 1.3422. Targeting a 4:1 R/R.


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## willoneau

Hi Cam019 , Tuesday was a good and very bad day for me. But had made me reflect more on what I am doing and how I need to get more control of me.


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## Student of Gann

Major Low indicated for 30th August.


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## e_abrams

Do you think it will climb back to 1.3750 anytime soon?


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