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Thread: GBP.USD

  1. #16
    action-reaction arco's Avatar
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    Thats an ominous black candle me thinks.
    The action has tested the box and the top may now be in.





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  2. #17
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    Nice fall of upto 479 pips (so far) since the last post 21/7.





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  3. #18
    action-reaction arco's Avatar
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    792 pips now for medium term holders.



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  4. #19
    action-reaction arco's Avatar
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    May now fall to complete 'E' IMO





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  5. #20
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    Hey, I've only just noticed these postings, very good stuff! Do you do EUR/USD too? =) i'm a beginner trader, have not been very successful.

    Mostly because of taking big risks during fundamental announcements (initially successful when they still guaranteed the fill price, but not anymore!), so i think i'll stay away from that.

    But quick questions, what good resources are there for learning about the Elliott wave? And what are the rules governing the formation of ABCD in relation to 12345? I sort of understand 12345, but can't seem to find any details on ABCD.

  6. #21
    action-reaction arco's Avatar
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    pringy

    If you want a starter course on EW you could try the site below, or do a search on Google where you will find many more sites.

    http://www.elliott-wave-theory.com/e...1.html#general

    However, bear in mind its very complicated and
    even 'wavers' often can't agree on wave counts.

    I personally use a simple version of my
    own - Arcowaves ,
    so you cant always rely on my lettering/numbering
    as perfect EW notation.
    (And FYI - abcde is often used for Triangles).

    Arco










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  7. #22
    action-reaction arco's Avatar
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    Check GBP.USD out on tacticaltrader.com
    if you like to follow this pair.

    GTA





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  8. #23
    action-reaction arco's Avatar
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    The current short is showing +105 on Thursdays
    entry and +32 on a pyramid entry.
    More info on TT.

    arco



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  9. #24
    action-reaction arco's Avatar
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    Position stopped out at breakeven.
    No damage fortunately.

    Sometimes a short term profit can be
    more rewarding......but hindsight is a
    wonderful thing

    There were a few worries with GBP as
    I mentioned earlier so will remain flat
    until the position becomes more clear.



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  10. #25
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    Back on the horse...........



    Go, Dobbin, go....

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  11. #26
    Kanga ru Xerof's Avatar
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    just sold 1 unit of GBP/USD at 1.8990. S/L 1.9041

    Xerof

  12. #27
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    SL hit at 8973.....Profit 63 pips.

    Expect to re-enter shortly.

    Xerof - Any idea what's causing the surge?

    arco





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  13. #28
    Kanga ru Xerof's Avatar
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    I think its just the usual counter-intuitive post risk event move (hows that!) In other words - a short squeeze of long dollar positions built up over the past week, in case the Fed altered its wording or went 50 points.

    In hindsight I might have got in a little too early - London session might be rather interesting....

    Default MACD's, SMA 10,20 have all crossed positively on 2 hourly charts for all the major currencies, incl Kiwi....

    Xerof

  14. #29
    action-reaction arco's Avatar
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    Interesting move, - could be testing
    polarity change on the 9043 line.

    No position, but will follow up behind
    with a trailing short.

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  15. #30
    Kanga ru Xerof's Avatar
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    More on your query re yesterdays surge after FED raised rates - this might put some insight into why the move occurred, and is continuing tonight, and may be near the mark as to what the market is thinking - fundamentals I'm afraid[8D][8D]

    http://www.blackswantrading.com/file...sccc050505.pdf

    Xerof

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