GBP vs USD what next?

Hi buk been reading the posts. Very interesting, you mentioned quite alot of things about the GBP/USD. Do you think it would be possible to include a graph. I traded the GBP/USD this morning and made a nice 50 pips, in at 1.8655 and out at 1.8705.

Thanks :cheesy:
 
Yeah, I'm out the CAD with a 9 tick loss over the two trades.

We're thinking similar I think as I'm in on euro at 755 target 850 stops at 735 and 710.
 
hi hammer.......surely will (when I get a min/hang of this cut & paste malarkey)....good move mate!!....looks like they're taking a breather, euro is pulling back for a poss entry!.....good trend line support on both 15 & 30 min frames + 65 odd pips away from a Fib level, if it holds here, should pop up to test 2790.....as they say 'we shall see'...............

stops either side of the 100 ema Nick???........... 😀 ??
 
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food for thought??.....................

EUR/USD

The euro rallied to a high of 1.2788 after regaining its composure after the G7 meeting at the 1.26 level. As we have stated for the past two weeks the euro remains in a consolidation pattern against the dollar and further pressure in the euro/dollar appears likely this week, after the weekend's G7 news causes some short term volatility with more whipsawing in a consolidation pattern likely. Today's break above the previous high at 1.2775, indicates that the consolidation pattern may be over. Support is seen at 1.2550 and the low of 1.2335 which marked both a previous low and the 38.2% Fibonacci retracement of the Nov-Jan advance. Unless there is a break of the 1.2325/15 area the normal resolution would be for a move higher in the coming weeks, as traders target new all time highs above 1.29.
 
Checking Bloomberg TV for any fundamental news breaks.

If we go with the flow I've moderated to a more consevative 825 target.

If it takes out 780 I think we're onto a winner.




100 EMA Bands width 1.0 at 695 and 820?
 
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in long again at 1.8695, seems to finding support there.
Nickerson i've lost you, are you referring to GBP/USD when you say

'If we go with the flow I've moderated to a more consevative 825 target.

If it takes out 780 I think we're onto a winner.' ?

Thanks :cheesy:
 
Hi Hammer

I bought GBP at 575 last night and sold at 712 this morning.

I'm refering to a Euro trade I'm in at 755. Was looking for 850 but have moderated target 825.

Hope you're having a good day!

My computer's started to slow I take that as a sign that perhaps I should call it off!
 
Cheers Nickerson, tell me are you a forex trader? Or do you trade the indices aswell. I really only trade the dow but always have been interested in especially the GBP/USD. Thought i would trade it today, the dow is giving me grief lately!
 
thanks, target at 1.8735, prob go further but will be happy to take profits and run!
 
Yeah, I'm all forex now. Used to be FTSE (morning) and Dow (afternoon).

Forex to me though presents more opportunities and at the same time is more predictable.

I find Eur/Chf/Gbp against USD quite similar. Variations on a theme if you like (sorry! I'm a musician) so I pick the clearest trade on one of those 3. I never trade more than one of those markets at a time.

USDCAD seems to have a life of it's own so a feel free to enter a second trade if an opportunity arises

USDJPY I avoid due to unholy BOJ intervention and it's less volatile.

Anyhow I'm happier and more successful than when I was trading index's.

Where's your stop on gbpusd, I'd be worried about getting shaken out if it's too tight or have you closed up with a small profit?
 
Im still long, haven't put a stop on at the moment but am willing to risk half of what i've made today so 25 points, watching it closely and will get out if it hits 1.8660 for a 25 point loss. But overall ill still be 25 points up. At the moment seems to be bouncing around a down channel, will wait for a breakout before i react.
 
Yeah, sorry for delay, out of Euro. Taking a breather to reasses.
Can't see anything at the moment except maybe inverse Cup on Euro. Plenty of time to check that out properly though
 
Looking like a copy of yesterday. (euro) i'm staying out. Hows it going Buk? I bet you've made a few successful shorts!
 
got out a bit late on my trade at 1.8650, went short at 1.8641 just as it rallied again! Closed that quickly and now flat. Gonna sit out now until i find a good entry lost all proft made in the morning 🙁
 
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