keep an eye out for a 123 low breakout..
trendline is near by as well


dl.dropboxusercontent.com/u/4899609/gbpusd4thfeb2015.png

Possible 123 low formation??
This is one to watch over the next few days as a break out could send this to test main down trend which has been in play since july 2014 and a break of this could signal a possible change in trend.
So one to watch . Obviously you cant pre-empt the trade.Early signal would be the 123 low breakout and then place the stops below the 2 point.


dl.dropboxusercontent.com/u/4899609/gbpusd19thjan2015.png

your DOW trade wasn't though

this trade was a losing trade

im long on this now. Stops are below the 2 point which is at 155999 so roughly 150 points away.


dl.dropboxusercontent.com/u/4899609/gbpusd16thdec2014.png

still watching this
this is at the 61.8 fib area and possible 123 low forming on this right near the down trend line.So if a 123 low breakout comes it could be powerful as that would be a trend line break as well and could signal a change in trend.


dl.dropboxusercontent.com/u/4899609/gbpusd15thdec2014.png

One to watch,,,,possible 123 low formation and its at the point of the break of the main current down trend line as well so could signal an advance of the pound against the dollar. so keep an eye on this over the next few days or put in a market order with 40 pips stops.


dl.dropboxusercontent.com/u/4899609/gbpusd27thoct2014.png

Cautious Long @1.6078 as its near an oblique resistance which sits at 1.6127

SL of 40 points

Hi TF

Mind the Gap - Resistance at 1.6283

I cant see the Gap on your advfn chart!!

this could be just be a gap fill bounce

Long on the RSI breakout.
uk.advfn.com/p.php?pid=chartscreenshotsh...D&symbol=FX%5EGBPUSD

Target, 1.64, 20 day ema area.
Stop below today low for now, will move to break even pretty quickly!
Regards,
trendfriend.

Possible short as the trend line has been breached. Ive got a 25 point stop on this just incase.


dl.dropboxusercontent.com/u/4899609/gbpusd25thjuly2014.png

Worth a long on first attempt of 16823 with a 40 point stop for today only.


dl.dropboxusercontent.com/u/4899609/usdgbp9thmay2014.png

Nice move on this since it broke out of the symmetrical triangle...
Its actually finished above a bigger triangle as well now.


dl.dropboxusercontent.com/u/4899609/gbpusd28thnov.png

This looks like its broken out of the flag pattern??




dl.dropboxusercontent.com/u/4899609/gbpusd22ndnov.png

flags are continuation patterns so the prior trend is up so imply possible higher prices...stops are a must

Approaching the top of the channel

Cable Double Top
Short @ 1.59645
SL 80 points

This is nearing a strong resistance level.The level to watch out for is 1.6353.
This level is the top of a massive symmetrical triangle and near the Horizontal resistance at 1.6380.
So stops would have to be above 1.6400 if you short this at 1.6353
This will be based on a first attempt only.


dl.dropboxusercontent.com/u/4899609/usdgbp30thsept.png

So one to keep an eye out for the coming week.


dl.dropboxusercontent.com/u/4899609/usdgbp30thsept1.png

im going to short this at 1.610 on a first attempt basis trade. This is the top of the channel and there is also a horizontal resistance at 1.600. Only going to short this on a first attempt basis trade so will look to close this quickly. Im using a 40 point stop.
This is also a psychological level as well

dl.dropboxusercontent.com/u/4899609/gbpusd18thsept.png

Closed half @ 1.56651
SL moved to below todays low for the rest 1.56188

Cheers mate & keep them coming...every post on here has something useful...like tescos slogan - Every Little Helps!

I got a bit worried about my cable position when I looked at EUR/USD chart on your CS TA, might open a short on EUR/USD tomorrow to cover my cable Long!

Hey RC,

You are the rest of CV are welcome of course; if the good folks are interested in the institutional notes, I'll keep on sourcing them and posting them!

CS do the lot one would think, but the main indices T/A is from UBS. I've managed to get hold a Metals PDF somewhere (along with Commerzbank) and few others...

I'll post of few more tonight / tomorrow hopefully!

I have lots of respect for your calls, but regarding cable, I need you to be wrong simply because I have physical dollars (Salary!) that I need to convert to sterling!

After that, I hope the up-trend continues!

Damn currencies!!!!

Libero,

I have compared Credit Suisse's & JP Morgan's style of TA ( both of which you have kindly posted over here so many thanks)

CS's TA is based mainly on S&R and chart pattern's (triangles etc) & JP's TA mainly on EWT & fibs.

I have to agree CS clearly is a winner here ( I don't normally pay attention to Instutional TA but after your post about GBPUSD got curious and studied all the forex charts on CS TA)

Out of 7, I agree with 5 of their recommendations/trade positions.

Only disagree with AUDUSD & GBPUSD (as the former is finishing a downtrend so wouldn't want to look at short positions and the later is in an established uptrend so wouldn't want to go against the trend - HH & HLs and all that ) but may be they are right on those two as well - only time will tell!

Does CS only do Forex TA or do they do stocks & indices as well??

RC,

You've got a very sharp eye (as usual!). Credit Suisse's chart drew the same line as your good self:



They say: Above 1.5638 can open the door to a fresh look at the 1.5718/1.5752 highs.

Their 'Strategy': Short, stop above 1.5638, for 1.5126/06.


(Full details of this can be found in the Institutional Technical Analysis thread - along with 7 fresh forex views).

I am Long from 1.56255
SL is below yesterday's low of 1.55549

Nomura's point of view is:

GBPUSD – uptrend intact above critical support at 1.5515

Daily and Hourly charts attached.

at last , we seem to be willing to attack the next level up.
My Daily indicator still shows bullishness, though there is a big swing to the left to get over, which could be problematic.



1.600 on the daily/weekly charts look possible though nothing is guaranteed.

this is a weekly view ........will it get there ?

dl.dropboxusercontent.com/u/40497882/gbp_usd_Aug%20weekly.JPG





dyor.

WS

2nd swing target hit ..... patience sometimes is a virtue..., taken some off here and the rest will run as freebies with all locked in with stops... will it break out here ?

dl.dropboxusercontent.com/u/40497882/gbp_usd_4hr%20swing.JPG





WS


WaveSurfer wrote:

dl.dropboxusercontent.com/u/7238706/CableDaily.png

Having broken out of the triangle in early February this looks like continuing it's downward path. Interestingly this has taken to hitting the 76.4% fib of late so I'm expecting 1.5574 maybe the high for the present: it's certainly in the resistance target area. What I am currently labeling wave C, which is open to translation, should end either at 1.4795 or 1.4203, obviously with a few ups and downs in between.

For info the weekly chart looks like this.....



dl.dropboxusercontent.com/u/7238706/CableWkly.png

after a choppy week due to news, i'm reentering around here.
this is a daily chart, so looking for a longer run now.

1st target hit




dl.dropboxusercontent.com/u/40497882/gbp..._4hr_26th%20July.JPG

WaveSurfer wrote:

This one was close to bailing me out earlier... But now has dropped nicely
This should be a free trade now.


dl.dropboxusercontent.com/u/4899609/gbpusd25thjuly.png

This one hit the 61.8 fib perfectly then moved lower.
Im short on this currently and my stop is above the 61.8 fib area.
If this finishes below yesterday low (1.5325) then i can see this heading back down.


dl.dropboxusercontent.com/u/4899609/gbpusd24thjuly.png

Diver - nice charts and agree from a longer terms perspective on bearish stance..

although in the short term been playing this and posted on chat earlier in the week.....need a break n hold abv 15282, notice the projected move should this play out and it just may kiss the broken TL..

original chart posted:



dl.dropboxusercontent.com/u/40497882/gbp_usd4hr.JPG

and now....



dl.dropboxusercontent.com/u/40497882/gbp..._4hr_20th%20July.JPG

rgds WS

dl.dropboxusercontent.com/u/7238706/USD%20SpotWkly.png

Having broken a triangle going back 4 years in February last this continues to look bearish.



dl.dropboxusercontent.com/u/7238706/USD%20SpotDaily.png

Closer in, the daily......
Obviously this could go two ways but, the bearish version looks like this. The price is currently bang on resistance so I'm expecting a small retrace - though it could just turn from here - before continuing the push up towards the 61.8%fib at 1.5394. Then we turn down and head to 1.4203, and possibly lower.

At last I seem to have found a combination which allows me to see candlesticks with ease. Being colour blind you would think I would have discovered black and white well before now

Still Falling... 1.490x might be the next support point.

Jackozy wrote:
It was tempting Jackozy, but the move downwards is too violent right now!

I *might* go long at 1.5000 if the oppertunity and technicals are confirmed. What I don't want to do is get caught out on a classic "counter-retail" trade; i.e. because it has bounced around that level, I'd assume it will do that again and Bam! it will fall right through

Still watching it closely!

Good luck!

Scratch that - already been taken out!

Actually it's bang on the trendline now and if it bounces here then it'll have a double bullish RSI divergence on the 4H chart.

Sorry, not done the screenshot yet as just got in. Worth a long at this level though (1.590 as I type) but don't forget your stops.

Libero wrote:
OK, I'd hold that thought! FX didn't like the BoE news clearly!



It is falling past 1.5149 which seemed like a decent support level; early doors, but this could fall to 1.5000 next.

I'll be watching!

remo wrote:
If this is a geniune Cable rally, then hang back for the 50% retracement, and hop back in again.

Gutted as was waiting for this to hit that trend line at 1.5089...
oh well have to wait again.

Engulfing Pattern at play perhaps?

possible yes, that will also tie in nicely with market completing a major 3 by Aug/Sept just in time for the pre Autumn dump & german elections...

remember this is a daily chart - you can run short and long on smaller time frames...

key is to focus on the Fib prices at point D and then time, but before then 15900 area.

its no coincidence that this pattern is direct result of Fibonacci ratio's of 1.61, .886 & .50, just got to see if it plays out, usually these are quite reliable...

cheers WS

WaveSurfer wrote:
Wavesurfer,

If you are expecting / anticipating (with TA probability!) that Cable will reach point D, then are saying GBP is bullish until around september?

3 months is a REALLY long term for a forex trader man!

The long is tradeable setup - but we have a bearish Harmonic in play..... see the BAT ?

this is on the daily chart and when the move occurs it will be extremely strong. similar pattern evolving on eur/usd.

so short term bullish - long term bearish. just something to monitor

dyor

dl.dropboxusercontent.com/u/40497882/GBP_USD_Daily_Harmonic.JPG

Im gonna go long from half way down hammer(1.5465 ) with stops below
Hopefully this may resume the up trend .???

dl.dropboxusercontent.com/u/4899609/usdgbp21stjune.png

im looking to short on a first attempt basis at the down trend line.(1.5421) with a 40 point stop.
This is for today as the trend line changes every day.


dl.dropboxusercontent.com/u/4899609/gbpusd5thjune.png

123 low are more important after a continued down trend with prices going lower. Like the example i showed on the audusd.
You can see how the 123 low played its part in this currency back in march after a long down move.
It can be used for shorter time spans as well as it can signal the short term trend reversal..

Is a 1-2-3 Playing out here? Or at the very least, a decent reversal.



Expert opinions welcome



Disclosure: I'm in from 1.52599 (about to unload, content with 1.53600, anything above is fish 'n' chip money ).