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Thread: GBP.USD

  1. #226
    action-reaction arco's Avatar
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    I mentioned this possibility on the 11th

    Gann calcs working well again, although it took awhile to build up the base for an explosive move north overnight

    +95 (Averaged)

    GTA - arco



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  2. #227
    action-reaction arco's Avatar
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    Closed 50% off last night at +170,
    balance currently +144

    U.K. Third-Quarter Expansion Was Faster Than Expected (Bloomberg)

    ``Manufacturing and industrial production have bounced a bit and services are reasonably buoyant as well,'' said Robin Marshall, an economist at Smith and Williamson Investment Management, which has assets of about $15 billion. ``The rate increase in November is a done deal.''


    Bit late mate........the charts told us well prior to your announcment

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  3. #228
    action-reaction arco's Avatar
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    Morning All

    Last nights long entry (mentioned on the EUR thread)just
    missed my 50 pip target by 5 pips as I slept blissfully unaware [V],

    - however, still showing +21 at the moment.

    regards - arco





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  4. #229
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    Eur/Gbp slipped overnite so yours definitely was the better option. However I am still hanging in on the Eur Long

    This was how I calculated my fibs I referred to y'day

  5. #230
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    Daily FX
    British Pound: Strong Gains after BoE Contemplates 25 or 50
    Wednesday May 23, 5:34 pm ET
    By Kathy Lien, Chief Strategist strategist@dailyfx.com

    The British pound is the story of the day as hawkish minutes from the latest monetary policy meeting spurs across the board gains in the currency pair. Given the recent weakness in UK economic data, the market had anticipated tepid comments from the central bank. The general belief was that the Bank of England did not want to do anything that would take the country?s exchange rate beyond 2.0. However instead of contemplating a 25bp hike versus no hike, the central bank actually debated 25 versus 50. Even though the members voted unanimously in favor of a quarter point hike, the fact that they were considering more versus less was enough to bring some bulls back into the market. More specifically, the BoE said that there is a "high probability of another rise later in the year." The last part of this statement suggests that June may be too early to expect another move, especially given the recent pieces of economic data. Therefore even though we could see further pound strength, the rally could be limited.
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  6. #231
    action-reaction arco's Avatar
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    These seasonal charts from www.seasonalcharts.com may come in helpful.........



    http://www.seasonalcharts.com/future...i/bp/chart.gif





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  7. #232
    action-reaction arco's Avatar
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    Maybe we will see Cable fall towards the Gann area
    9533 - especially if the Butterflies are in a good mood.


    arco


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  8. #233
    action-reaction arco's Avatar
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    Cable could be lining up now for a short IMO....



    arco



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  9. #234
    Guru peat's Avatar
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    yeh at 1.9845 its moved back to a 62% retracement of its fall from 1.9970 (to 1.9620) and this is also a 261% fib extn of its first move up from 1.9620 to 1.9708.
    It reminds me of the Eur/Jpy post I made on 10/05.

    Only thought was , noticing that Eur is in a similar formation to GBD - so if we assume that will short as well , and yet you (Arco) are short USD/Chf which generally moves opposite to Eur. So just wondering about the conflicting scenarios here. Maybe you're talking different time frames tho.


  10. #235
    action-reaction arco's Avatar
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    Hi Peat

    The Swissy trade went slightly over target at the outset, although I did manage to scale my way into eventually averaging a profitable position.

    As mentioned last week it was always intended to be a short term wave trade, and happily I've now closed all positions with an acceptable profit.

    regards - arco







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  11. #236
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    Nice......the Gann reversal point worked in good fashion.....
    nice back lash at 9858 for a quick 20+/- pips scalp.

    ..and thats how the Swissy trade should have worked.









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  12. #237
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    soo Mr Gann does cloud surfing ! Gann Ten.

  13. #238
    action-reaction arco's Avatar
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    Gann meets Ichimoku - a powerful combination

    At the end of the day, when many indicators tell the
    same story its pretty good confirmation.

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  14. #239
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    you were using a daily chart to scalp 20 pips tho?

  15. #240
    action-reaction arco's Avatar
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    Hi Peat

    The Gann calcs are taken from daily chart,
    - entry confirmation lower time frames (15m-30m chart).

    In this case........
    Double Top with almost a Bear Engulf on 15 min and
    Double Top with DCC on 30 min.
    Both outside the BBs and with divergence on Oscs.

    Scalping is only secondary to the main idea of
    taking the long pip trip, but it keeps the mind
    active.

    arco





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