GBP.USD

[slam]

Hi Dazza

We seem to be at loggerheads today
I went long on this on the dip

1min chart to short a time period for me, 1hour is the smallest frame except for entry points.
Contrarian view

Cheers
Slam

[Dazza]

saw a scoop pattern formation on 1 hour 5 min frame

entered at 579 a bit late though, stupid shower

should have entered at 566ish

looking for 20 pips only though

[Dazza]

well there goes 23 pips ><

oh well i learnt something at the expense of $$

[arco]

Originally posted 3/10 on the Chit-Chat thread.

quote: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

Entered long at 7564.........see how we go.

arco

[slam]

Hi Arco
Yep entered 7552 yesterday
Currently +68
Looking ok too
Might take some more soon since it's brocken 7619
See if it holds above
Long EUR as well

Cheers
slam

[Dazza]

arco
for a 2 day chart with 30 min interval
around october 5 0000 time
would u say that is a doji star or a morning star?

or both/

[arco]

Slam

Good going. I also had an order in at 7530 but the action missed collecting it by a couple of pips around 21.00 hrs[V]

Dazza

Charts from differnt venders can vary however on my charts the action is in an uptrend at that 00.00 and you cannot have a Morning Star in an uptrend. Its not a typical Doji either because it has a body.

arco

[arco]

PS Slam

I added more at 7588..... (+ 34)

arco

[peat]

The [POUND] is off its best levels although remains surprisingly buoyant as we enter the first session of the 2 day BOE meeting. Although a very minor series, the Nationwide confidence index revealed a 17 month low for UK consumers to continue the run of weaker data from this vital sector of the economy. Whilst there is no expectation for change from the BOE, evidence of waning consumer demand is factored into dovish 2006 rate outlooks, and is seen stemming Gbp's performance mid term. However, in the very short term market speculators look to have got ahead of themselves and continue to unwind oversold risk. Looking ahead CIPs services data, (seen 54.9 Sep from 55.2), and BRC shop prices offer some interest between 8.30/9.30GMT.

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[peat]

oh and by the way i joned in the longs at 1.7620 +33

loving this contrarianism