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TOPIC: GBPUSD

GBP USD 13 Feb 2013 10:54 #151

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Some seriously crazy swings going on here...
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GBP USD 13 Feb 2013 08:27 #152

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Im going long half way down the hammer as the hammer formed right at support and my stops are below the hammer.
So my entry is at 1.5620
stops are below 1.5570
so risking 50 pips



DYOR
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GBP USD 12 Feb 2013 17:57 #153

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I'm still waiting for end of day but looks like there could now be a hammer on a bullish RSI divergence (daily chart) with a close above the uptrend support.
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GBP USD 12 Feb 2013 17:30 #154

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waverider2 wrote:
HI Libero - it seems that this chart pattern is actually called the Morrocan Hat pattern :)

you almost had me there man! It does look like a fez to be fair. :lol:

Your 15mins chart looks like its completed a double bottom - from an intra-day point.

Finding the GBPUSD price action somewhat emotional as I hold USD (part of work pays in USD but my "liabilities" are in GBP).

Can't we just go back to bartering with cattle, bushels and gold coins? :evil:
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GBP USD 12 Feb 2013 16:51 #155

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Charts attached:

dl.dropbox.com/u/4385922/GBPusd.png

Bullish divergence plus engulfing candle which is taking it up
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GBP USD 12 Feb 2013 16:48 #156

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HI Libero - it seems that this chart pattern is actually called the Morrocan Hat pattern :)

Can be very bearish and then bullish then bearish lol.

on a more serious note - I have been analysing the 15 mins chart - and it seems pretty bullish (again)
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GBP USD 12 Feb 2013 09:56 #157

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I might be seeing things, but to me there looks like a very crude Head & Shoulders set up on the hourly.




Like I said, I might be seeing things (on another day, it might be a head and shoulders shampoo bottle but hey ho!) :cheer:

Either way, Cable took another hit with its latest CPI readings (admittedly this news causes only a short term downward spike, but if the general sentiment is bearish, it could just compound Sterling's misery!)

One final note, notice that since the 6th of Feb the 20MA was acting as support? but this recently turned into resistance.
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Last Edit: 12 Feb 2013 09:59 by Libero. Reason: MA observation
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GBP USD 12 Feb 2013 09:02 #158

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That's why I only ever trade the first attempt of a trend line. ;)
As can be seen from your chart it bounced on the first attempt but an attempt after a few days latter will increase the chances of a breakout.
Also the US Dollar index has recently bounced of the neck line of the head and shoulders and now has even broke a short term down trend line. Views can change so quickly on the currency market. :ohmy:
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GBP USD 12 Feb 2013 08:53 #159

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The bounce off the uptrend support seems to have been quite short-lived. Hope profit was banked and stops placed. Looks now like it could be a bit bleak for the GBP in coming weeks as that was the uptrend from 2009 lows:

GBPUSDdaily12_02_13.gif


dl.dropbox.com/u/20815047/GBPUSDdaily12_02_13.gif

I'll wait now to see where this closes. If it closes below that trendline then I'll look to short it on a backtest at some point.
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GBP USD 08 Feb 2013 20:59 #160

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Very happy with this trade... :cheer:

Over 300 pips banked, was also trading the swings.

My original entry was at 15650 and my exit was 15825.

Currently consolidating and I think this will head to the 200-day ma at 15879 early next week so I've gone long again at 15792, with tight stops at 15770..
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GBP USD 07 Feb 2013 14:59 #161

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Added to position on the dip at 15688

Really want to see this break above 15723 then 15770 and not to head back below the candle from 15670.

Stops in place, watching with fingers crossed. :woohoo:
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GBP USD 07 Feb 2013 13:14 #162

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Looks good for a bounce off the long term trendline to me?
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GBP USD 07 Feb 2013 11:53 #163

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Thanks Boss! :-)
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GBP USD 07 Feb 2013 11:50 #164

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here you go mate

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GBP USD 07 Feb 2013 11:46 #165

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Can someone please post a daily chart of GBPUSD going back to 20 Dec 2012? I just want to check some price points.

Thanks in advance.
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GBP USD 07 Feb 2013 11:35 #166

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Basementgeek wrote:
Need this to break and hold above 15680.

15630 area seems to be a good support so far so hopefully building some strength for an upwards move.

Nice, 15769 hit B)

That trend-line move played out perfectly... Nice one longterm_view!!

Hopefully this move has some legs and will now extend to the 15900 area..
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GBP USD 06 Feb 2013 15:31 #167

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I am long as it seems to have found some support - especially as it is close to the weekly trendline. Stops at 1.5620
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GBP USD 06 Feb 2013 13:47 #168

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Need this to break and hold above 15680.

15630 area seems to be a good support so far so hopefully building some strength for an upwards move.
Last Edit: 06 Feb 2013 13:47 by Basementgeek.
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GBP USD 05 Feb 2013 19:22 #169

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good call longterm view
It went slightly lower than your entry by 4 pips so well done.
It missed my entry by 4 pips as the low was at 15628 .
Ive removed my order now as this was only there for the first attempt basis trade only and now that its bounced of that area i wont be going long on a second attempt. Just the way i do things. ;)
back on the side lines
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GBP USD 05 Feb 2013 19:09 #170

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Thanks for mentioning this.

Hit 15630 and bounced.

Long at 15650 with a 30 point stop.

Target 15858 for 200 points.

I have not traded FX for a while but hope this hits my target.

Just how far do you think this could bounce?

All the best.

BG (A very interested lurker/learner)
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GBP USD 05 Feb 2013 16:45 #171

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im planning on going long on a first attempt basis at 15624 with a 40 point stop.
thanks for pointing this out.
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GBP USD 05 Feb 2013 16:23 #172

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waverider2,

looking to go long at 15632, weekly uptrend line. :whistle:

Getting close to the weekly uptrend.

dl.dropbox.com/u/21384991/USD%20%28DFB%29.png

close up
dl.dropbox.com/u/21384991/USD2%20%28DFB%29.png
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GBP USD 04 Feb 2013 18:32 #173

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this one is playing out well on the 15 mins chart from this morning...
i have a temporary 15800 target in mind. anyone else care to share their views?

15mins looks nice to trade as the 1-2-3 setups are clear and the trend seems to be up.

dl.dropbox.com/u/4385922/gbp.usd.png
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GBPUSD 01 Feb 2013 12:54 #174

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Got out at 1.57 (as per my post below, 24 Jan 2013), but you have to wonder "what if" the US GDP figures matched expectations. Surely the trade would have got more mileage!

Here's a Cable chart (courtesy of GFT Markets) - By breaking the 1.5825 level, it looks like everyone is ganging up against the USD! :ohmy:
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GBPUSD 30 Jan 2013 10:59 #175

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Ive already closed my short on this pair. My views are changing.
See US dollar topic. ;)
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GBPUSD 28 Jan 2013 17:58 #176

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Just been eyeing up that very trade myself ;-)
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GBPUSD 28 Jan 2013 11:56 #177

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Im planning on going long at the main trend line (15610)on the first touch basis trade. this is for today only unless it finishes where we are now then will look to go long the following day at a slightly higher level at 15613
so gonna take my profits from the short at the trend line then reverse the bet to long then will be looking to short back down to the 500 points prediction ;) ;)
if only trading was this simple ;) ;)




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GBPUSD 28 Jan 2013 11:37 #178

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Falling fast as predicted guys.

Heading towazds the 61.8% fib (1.5693) of the rise from 1.5268 to 1.6380 - small bounce from there maybe.
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GBPUSD 24 Jan 2013 16:46 #179

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Hey Ronnie - u in the money ! nice trade, i took short on the test 884 as failed to get over...free trade now...
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GBPUSD 24 Jan 2013 13:00 #180

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Surely Sterling is toast?

The trade may well look until about 1.57? Expert opinions welcome :huh:
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GBPUSD 23 Jan 2013 13:51 #181

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i see a bearish "m" that wont be confirmed until a close below 824/8 area. however it's printed a doji still 3 more days for this candle to play out ( weekly) a close abv 884 and 918 may signal a trend change again.
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GBPUSD 22 Jan 2013 22:18 #182

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Whilst doing the inside-bar trading noticed this had a inside bar right at support and its right at the bottom of its trading range so if the support goes there is potential 500 points move because of the trading range size. My entry is at 15803, which is just below the support level.




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GBPUSD hammer???? 21 Jan 2013 22:30 #183

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This is in a trading range of about 500 points.
Its currently near the bottom of the range and if this breaks and finishes below
1.5824 then this may drop fast.
One to watch or trade.

Dyor




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GBPUSD hammer???? 07 Jan 2013 15:50 #184

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remo wrote:
diver993 wrote:
Again this is one I'm not convinced has bottomed out: another that's looks like a wave iv on the hourly. I'm hoping to get in at sub 1.60 but may have missed the boat...and would target 1.65

theres a hammer forming on this so you may get your chance .
Obviously it has to finish the day as a hammer then look to go long when the price goes half way down the hammer with a stop just below the low of the hammer.That way good risk to reward.
only downside to this hammer is that its not a major support level its formed in. :angry:
again...its early days yet so it may not finish as a hammer :P




dyor


trade has activated earlier due to half way down the hammer.
stops below.
this will be a free trade soon and stops moved to break even.

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GBPUSD hammer???? 04 Jan 2013 21:17 #185

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I went long on this at the 61.8% fib line at 1.6015, stop just below 1.6000. Seems to be playing out OK at the moment, but I have moved my stop up to B/E just in case something happens overnight on Sunday/Monday.
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GBPUSD hammer???? 04 Jan 2013 20:46 #186

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diver993 wrote:
Again this is one I'm not convinced has bottomed out: another that's looks like a wave iv on the hourly. I'm hoping to get in at sub 1.60 but may have missed the boat...and would target 1.65

theres a hammer forming on this so you may get your chance .
Obviously it has to finish the day as a hammer then look to go long when the price goes half way down the hammer with a stop just below the low of the hammer.That way good risk to reward.
only downside to this hammer is that its not a major support level its formed in. :angry:
again...its early days yet so it may not finish as a hammer :P




dyor
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Last Edit: 04 Jan 2013 20:46 by remo.
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GBPUSD shooting star 04 Jan 2013 19:54 #187

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Again this is one I'm not convinced has bottomed out: another that's looks like a wave iv on the hourly. I'm hoping to get in at sub 1.60 but may have missed the boat...and would target 1.65
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GBPUSD shooting star 04 Jan 2013 12:30 #188

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that was for the previous retracement and not for the new one.
forgot to take it of .
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GBPUSD shooting star 04 Jan 2013 11:41 #189

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Why do you put the 0% fib line at the top of the first shooting star rather than at the end of the tail of the second (larger) candle?
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GBPUSD shooting star 02 Jan 2013 22:24 #190

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This has a massive tail on this so i would look at it as a shooting star.
The entry level for me will be around the 16301 area with stops above 16380.
due to the size if this there is risk involved as you are gonna have an 80 point stop.


The last shooting star was very profitable so hopefully the same again if it triggers
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GBPUSD shooting star 02 Jan 2013 20:17 #191

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And here is another rejection or pin bar reversal at the same level. But it hasn't finished yet. Does it qualify as a shooting star?

clip2net.com/s/2Frdh

RMc
Last Edit: 02 Jan 2013 20:18 by Rossymc.
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GBPUSD shooting star 21 Dec 2012 12:27 #192

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This should be a free trade now as this has played out perfectly B)


dl.dropbox.com/u/4899609/gbpusd21stdec.png

See what i mean by shorting half way up a shooting star.
ill say this happens with most shooting star formations.
By doing it this way you have better risk to reward on the trade.
DYOR
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Last Edit: 21 Dec 2012 12:29 by remo.
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GBPUSD shooting star 20 Dec 2012 08:29 #193

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Theres a nice shooting star right at major resistance on this one.so looks pretty good for a short.
The way i trade these are wait for the price to go half way up the shooting star then short with a stop above the shooting star.
The level im going short is 1.6273 stop is 40 points or above the shooting star (1.6306)
Ill be targeting the 23.6 fib first at 1.6195 first.
There 2 potential fib retracement set ups on this so be aware of them.



I missed the shorting chance yesterday from major resistance as was busy trading other pairs at the time and missed this one...dohhh :evil: ;)

DYOR
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GBPUSD C&H ?? 19 Dec 2012 19:43 #194

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I do think Cable will break through sooner rather than later but did anyone else risk a short at 1.630 today?

I did but I'm not sure how low it will go. Any ideas anyone? Is the 38.2% Fib of the last rise at 1.612 a tad too far?

Thanks in advance...
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GBPUSD C&H ?? 19 Dec 2012 08:20 #195

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Maybe but it's not reallt got the classic form. It's also been in a sidewys trading range between 1.5250 and 1.6300 for a year and a half which suggests that whichever way it breaks there's plenty to be had - a break north gets your possible target:

GBPUSDdaily19_12_12.gif


dl.dropbox.com/u/20815047/GBPUSDdaily19_12_12.gif
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GBPUSD C&H ?? 18 Dec 2012 21:41 #196

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Does anyone see C&H forming here?
The target may be about 1.7200


Ftse80
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GBPUSD shooting star 07 Dec 2012 12:02 #197

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Good trade remo
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GBPUSD shooting star 06 Dec 2012 14:37 #198

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Watching this closely remo but the down trend on the bear flag could be broken


image_2012-12-06.jpg


Maybe a fakey just occurred after an inside bar on the 4hr


image_2012-12-06-2.jpg



Very balanced but a good move could come either way. So what is my position? Fishing but fancy a long on retest of downtrend line.
RMc
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GBPUSD shooting star 04 Dec 2012 21:53 #199

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Shooting star formed right at known resistance at the 61.8fib level



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GBPUSD barclays prediction for GBPUSD 15 Nov 2012 09:49 #200

  • Rossymc
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Jackozy wrote:
Cable now getting quite close to an important level with the uptrend support, horizontal support (wave 1 high?) and 50% retracement all converging:

GBPUSDdaily15_11_12.gif


I'll be going long at about 1.578 as long as the hourly looks set up for it.

Also looking at this level as wave 4 bottom. Will be analysing the 4hr price action though.

Rmc
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