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Thread: GBP.USD

  1. #31
    Kanga ru Xerof's Avatar
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    quoteosted 5/5/05

    but did get some GBP out at 1.9065 earlier today on that inexplicable brief spike
    Closed this out after NFP at 1.8943 for 122 pips.

    Xerof

  2. #32
    Kanga ru Xerof's Avatar
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    Todays rally back to 1.8870ish may have been enough of a correction. IMO sell a break of 1.8800 tonight with a 50 pip stop

    Xerof

  3. #33
    Kanga ru Xerof's Avatar
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    Yesterdays volatility just shows how wide stops (or how small positions) need to be in Sterling. Thankfully I stayed out, as would have been caned

    GWD's latest update on TT is, I think, indicating yet another (savage) bounce may occur before it heads south again.

    In any event rallies should be sold IMO - picking the level to sell is the difficulty.....but maybe 1.8810?

  4. #34
    action-reaction arco's Avatar
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    I took a small beer from GBP overnight.
    Just 23 pips - entered in my sleep and
    exited this morning over porridge and honey.

    For laid back traders with big stops I think GBP will
    travel further south in the medium term.
    There is a beautiful Gartley working which has gone
    past its first reversal point, and that leads
    me to think GBP will head down to lower
    figures. The long standing uptrend line is
    just poised waiting for a kissXXX from Mr Gartley
    which will turn it not into a frog but a
    Bullish Butterfly - perhaps. We shall see.

    arco



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  5. #35
    action-reaction arco's Avatar
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    Entered again overnight @ 8681 currently +48 pips

    Anyone else playing?





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  6. #36
    Kanga ru Xerof's Avatar
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    Not yet, but with trailing stops on everything else, ready to leverage up further......looks like its broken the triangle that TT participants have been talking about

    My 'mate' Stormy Forex has also had a golden week on CAD/GBP/EUR and AUD picks....

    Xerof

  7. #37
    action-reaction arco's Avatar
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    Never bought into that triangle theory.....it
    just didn't fit with my TA.

    Xerof - Are you paying for Stormy calls?



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  8. #38
    Kanga ru Xerof's Avatar
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    No, he occasionally posts free analysis on his site, and/or posts them on www.trade2win.com, but seems to only go public when he's very confident with the tea leaves

    Xerof

    sori, had misquoted website address

  9. #39
    Kanga ru Xerof's Avatar
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    Like EURO, GBP has done 5 waves down on 60 minute chart. 1.8600 area should contain any corrective rally

    I don't have a position here, but will consider selling a rally to 1.8600


    Xerof

  10. #40
    Kanga ru Xerof's Avatar
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    Bought 1 unit of GBP/USD at 1.8476 with a s/l at 1.8448, target 1.8568

    Seems very, very oversold to me this morning

    Xerof

  11. #41
    action-reaction arco's Avatar
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    Initial Gartley objective targets are 8426-8517
    so we may see a pivot form around this point.







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  12. #42
    Kanga ru Xerof's Avatar
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    No joy, stopped out, tho still v o/sold. Perhaps a bounce from current levels is possible but will stay square now

    Xerof

  13. #43
    action-reaction arco's Avatar
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    Just took 79 pips from the short that got triggered
    below w/e pivot at 8460.



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  14. #44
    Kanga ru Xerof's Avatar
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    Arco, "being brave when others etc...." well done

  15. #45
    action-reaction arco's Avatar
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    You know that 9 red candles in a row is almost an
    open invitation for a green light to appear and
    send the shorts scurrying for cover.









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