GBP/USD 4hr Setup in The Daily Time Frame

[Black Swan]

:cheesy:

Haven't a clue me, I just moved it,

Oh...OK...

 

[targus]

stoped me out

Nice drop forming on the euro/usd right now if your interested.

 

[rolston]

looking long play here and down to 1.5829

stop at 1.5802

 

[littlebopip]

looking long play here and down to 1.5829

stop at 1.5802

Looks like a bearish flag to me so better play it tight. But that's just my two cents as a newbie. I noticed it broke a rising trend line too, so the trend might be down now.

 

[rolston]

brake below 1.5829 daily50

target 1.5683

 

[targus]

ATR ranges:
high 1 =6017 high 2=5984 and low 2 = 5905 low 1 = 5772. It appears to be heading to high 2, so perhaps a good target to sell at, or sell the rallies?

 

[rolston]

HI Targus

hope you got in on larst call

your right may pull back from here

trading in the 30min time frame support at 1.5865

we are hiting the 1hr rist at 1.5933

15min support at 1.5879

 

[targus]

She's just dropped through the 15min 30ma on a pullback now then down a little? Where are you now with it?

 

[rolston]

she trying to find support on the 15min here

30min support at 1.5866

 

[targus]

she trying to find support on the 15min here

30min support at 1.5866

Have you any trades open?

 

[rolston]

yes

2 x trades at 1.5840

2x trades at 1.5824

have taken some profit on 2 trades at 1hr Rist

 

[rolston]

stops infront off price cannot lose

 

[rolston]

still have short tade in play from other day

 

[targus]

stops infront off price cannot lose

I missed your call. Ah well. Whats your target profit on them, too late for me to jump in I think, not sure, maybe wait for the short.

 

[rolston]

We are still working towords the 1HR Rist at 1.5935
But we still need to build support on the 1hr time frame
Can still fall from here.

 

[rolston]

hi Targus

you may want to like at 1.5874 area for long play

 

[rolston]

stop at 1.5852

 

[targus]

We are still working towords the 1HR Rist at 1.5935
But we still need to build support on the 1hr time frame
Can still fall from here.

Mmm..Are you saying you are waiting for it to get to say 5980 (level 2) and then short it? Sorry am not with you?

 

[rolston]

Targus

if we have made a good move to the upside or down and we have support or Rist levels
they are the level to go short or long

Say if we were trading in the 4hr time frame and she is over sold and we had support on the 5 15 30 1hr
Can you tell me which time frame is the stonger

 

[targus]

Am with you. I've missed the long for 5874 so will see what happens in the 5934 area, see if it shorts there again and yes look for support with the rsi/cci. If it doesn't short here then hopefully it might carry on to 5980 which would a great short here.