GBP.USD

[peat]

i'm possibly stopped out now as there has been a 27 pip retracement from the figures I have available on forex.com.
but thats cool , any profits are ok with me at the moment.
and thanks for the good wishes guys...

[arco]

The current action is testing polarity cahnge.

Peat - nothing wrong with taking small profits initially - its a bit like scalping. Consider taking a proportion of your order off and leave a bit to run. You may just get lucky with that final balance. Once you build up more capital you can risk wider stops.

Currently +82 at max.

Slam you must be chuffed

arco

[slam]

quote:Originally posted by arco




Currently +82 at max.

Slam you must be chuffed

arco

Sure am arco, just need that kiwi to fall over a bit more now

[slam]

Morning All
Closed shorts and took th pips[8D]
Will look to re-enter on a bounce.
Notice on the 10m chart a triangle forming

Cheers
Slam

[arco]

Morning Slam

Yes ditto. I placed a TP at 7650 before retiring and it was hit overnight. So a very nice little run and I will review the situation once I see the EOD.

arco

[peat]

i had another bite at 7684 but my stop at 7708 got hit!
Kind of annoying coz the candle high was only 7705 during that time. So yeh tight stops are a double edged sword.
But I need them. Got a few pips on the Euro short as well. So twas an okay day.

[slam]

Waiting for a break out on this one.
Pretty sure it will be north but not game to enter yet
Got one either side of the triangle

cheers
Slam

[arco]

Morning Slam

Yes, I mentioned this on the Chit-Chat thread last night re GBP.

IMO there are a number of reasons to consider a reversal at this point may be possible.

1. The action has reached the Potential Reversal Zone (Butterfly target)

2. Reversal calculations have identified 4/10 as a likely date

3. There is possible Gann support @ 7578

arco

[slam]

Morning Arco
Yep, has also touched 7520ish 4 times now in the last 24hours, so building some nice support around here.
As you say, next 24hours or so should show the way

Cheers
Slam

[Dazza]

newbies pespective
at around 440 pm this afternoon

the pound

on a 1 day chart at 1 min,

showed 2 highs at , 7575 and 7578

howeva bearish divergance, was seen on RSI, MACD as well as momentum

hense conclusion = short


would u say dat is about right?