GBP.USD

[arco]

Attaching the weekly grid which is still containing the movement in an orderly form. I'm anticipating the action to enter the dotted boxes in the LH lower corner.

The short indicated on 26th has gathered upto 185 pips max so far for Southerners.



arco

[Xerof]

You mentioned possible head a couple of posts ago Arco - looks like nice right shoulder forming currently, for GBP (as well as EUR, NZD, possibly AUD too)

Adding......

Xerof

[arco]

Morning Everyone

The short positions indicated on 26th/27th have now gathered upto 220 pips max so far for Southerners, and are still above the target zone. I closed my position off at 8am and will re-evaluate a little later.

Due to daylight saving changes in US Rooters EOD date will not be available until 11.15 am.

GTA - arco

[slam]

Afternoon All

Well after a break from FX I'm back in.
Had to do some re-training if you know what I mean.

Went long on this on the 12th circa 160 pips atm.
Looking for 1.7880 as first exit

Cheers
Slam

[Xerof]

Welcome back Slam

December has been an up month for the pound for as long as I can remember....usually Middle East buying at year end from what I recall from my banking days...seems old habits die hard....Deutsche bank has 18300 as a target by y/e btw

Xerof

[slam]

Closed a 90 pip short on this pair from yesterday.
Will short again on a bounce

Cheers
Slam

[slam]

Hi All

Went long last night on the retrace .7768
Overbought on the hourlys but doesn’t look like stopping atm

Got a tight stop

Cheers
Slam

[Xerof]

Nice Slam,

I've been monitoring this since early Jan but have been reluctant to post this chart formation as it got rather messy on this C leg. Volatile puppy, but the formation is gaining some credibility on a macro view.

Watching and waiting ........



Xerof

[slam]

Hi Xerof

Thanks for the chart
Yep been sitting and watching this for the last 600 odd pips
wondering what it would do (Duh)
Took the punt on the bounce once it broke the dec high and retraced.

Will pick up more if the hourly settles back from overbought

That's some target you got there[8D]

Cheers
Slam

[Xerof]

Unfortunately the target could be anywhere between here and the 1.618% retracement level - just have to wait and see I guess, but if this range break has any legs, then we should see it into the low 1.80's

Such a progression could also drag NZD and AUD higher too, confirming my 'outrageous' suggestion of a gartley or butterfly formation on the Kiwi

Xerof