Currency Trading (Nov 20th - Nov 24th)

Where will GBPUSD close at the end of theis week?


  • Total voters
    21
  • Poll closed .
Seems like it has met heavy resistance over here...............Lets wait and see if it can break through.....If not a short might come in handy.............I will wait either way :rolleyes:
 
ChowClown said:
...hmm, looking more like a tweezer top now (15min).

on my chart short would trigger @71, hence the stop

edit: out now for =10. looks like support turned resistance at 75-80 from lows of 2 weeks ago
 
ChowClown said:
Flat, b/e. Waiting for opportunity to re-arm long, unless it tanks of course.


seems like long pattern still valid until 35 taken. resistance does feel strong. i'm affraid we will end up getting a doji printed on the daily. hope not.
 
jacinto said:
seems like long pattern still valid until 35 taken. resistance does feel strong. i'm affraid we will end up getting a doji printed on the daily. hope not.
...we have an hourly close now above the ema(144), which is likely to support at 8950 for a while. I'm waiting for my 5min to signal long again and attempt to re-arm a long at 65. Not set up just yet.
 
I don't trade vegas, but did test for a while and it wasn't for me as a trading plan. Do like the 144 though, acts as a decent moving support/resistance magnet more often than not.
 
ChowClown said:
...we have an hourly close now above the ema(144), which is likely to support at 8950 for a while. I'm waiting for my 5min to signal long again and attempt to re-arm a long at 65. Not set up just yet.
Hi Chow,

I have watched it bounce off the 100ema three times now on the hourly, so that's where my stop is. I am currently long with a target of 9010 firstly then if the move is strong enough the 50 mark, can't see that today though.

What a frustrating morning though!
 
ChowClown said:
I don't trade vegas, but did test for a while and it wasn't for me as a trading plan. Do like the 144 though, acts as a decent moving support/resistance magnet more often than not.


know what you mean. dont love it myself, and dont trust emas that much either. however, vegas is setting up with the 12ema about to be in the channel. lets see how that plays out.

this move up has broken 2 relevant levels and 1 subjective level, so could just be a pullback. fridays high, asian high, pennant pattern (if valid).

however, against it, i have 75-85 as previous support now turned resistance. failure for a clear break would make me think of consolidation waiting for direction, if not reversal with a lower top on the 15 minute chart (not triggered yet) is in the cards.
 
ChowClown said:
...we have an hourly close now above the ema(144), which is likely to support at 8950 for a while. I'm waiting for my 5min to signal long again and attempt to re-arm a long at 65. Not set up just yet.
Have a long order in now @ 69.5, just in case it flicks up to test this morning's high, at which point i'll sell half and move rest to b/e. Not a vebo trade, but close to the vebo long entry.
 
...if 8948 (oanda) holds as the low, then i have a 5min pattern targeting 80-90 initially.
 
ChowClown said:
Have a long order in now @ 69.5, just in case it flicks up to test this morning's high, at which point i'll sell half and move rest to b/e. Not a vebo trade, but close to the vebo long entry.
...whole position at b/e now.
 
tripe top on cable 15mins ! Is it gonna bust it upwards or do I get out quickly if it starts falling?
 
ChowClown said:
...whole position at b/e now.


well, good luck, you too priceman.

i am calling it a day. too slow for my liking, and a 4 year old demands attention.
 
ChowClown said:
...if 8948 (oanda) holds as the low, then i have a 5min pattern targeting 80-90 initially.
...approaching reversal zone, pattern void any higher than 8991.
 
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