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Thread: GBP.USD

  1. #41
    action-reaction arco's Avatar
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    Initial Gartley objective targets are 8426-8517
    so we may see a pivot form around this point.







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  2. #42
    Guru Xerof's Avatar
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    No joy, stopped out, tho still v o/sold. Perhaps a bounce from current levels is possible but will stay square now

    Xerof

  3. #43
    action-reaction arco's Avatar
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    Just took 79 pips from the short that got triggered
    below w/e pivot at 8460.



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  4. #44
    Guru Xerof's Avatar
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    Arco, "being brave when others etc...." well done

  5. #45
    action-reaction arco's Avatar
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    You know that 9 red candles in a row is almost an
    open invitation for a green light to appear and
    send the shorts scurrying for cover.









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  6. #46
    Guru Xerof's Avatar
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    Arco, remember this diamond formation from ol' stormy?

    http://www.stormyforex.com/showimg.aspx?imgid=23

    sell on a rally to 1.8500 is his latest call

    Todays 9th daily candle has sufficient time left for a long wick to dangle below....

    I have a small pair of longs waiting to be filled at 1.8280 s/l 1.8250, but would then rebuy around 1.8200 with tight stop if wrong initially

    Xerof

  7. #47
    action-reaction arco's Avatar
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    Xerof
    Judging by your last photo those small pair of
    longs are not going to fit anymore are they?

    Stormys Chart
    Interesting divergence on the Momentum, and
    can you see the very obvious Bullish Butterfly?

    Is that diamond really a diamond ?
    More like a Flag IMO - (extend the left line)?

    This is a traditional Diamond Top


    Minor uptrend line approaching captain, prepare
    the reverse thrust.

    arco







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  8. #48
    Guru Xerof's Avatar
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    Thanks for expert comment - my TA book is winging its way from Amazon at this very moment, so will be able to DIY in a few years

  9. #49
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    quote:Originally posted by Xerof


    Thanks for expert comment - my TA book is winging its way from Amazon at this very moment, so will be able to DIY in a few years
    Same here...eagerly awaiting its arrival.

    After having been pounded by the pound(I went long on a hunch looking for a bounce) I'm keen to spend more time on my FOREX education.

    Speaking of education, I learned why stop losses could have been quite useful had I applied them appropriately.

    At least I can console myself with the fact that the "lesson" only cost a little bit of money and a bruised ego

  10. #50
    Senior Member slam's Avatar
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    Went long at 1.8340, +66 atm
    see how we go
    Tight stop

    Slam

  11. #51
    Guru Xerof's Avatar
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    Lakedetc, there is an old saying in the markets - "its never too late to sell a pound".

    Well done slam.

    Xerof - don't be so greedy....

    Arco, haven't heard of your trailing entry yet - I'm sure you would have had one


    Xerof

  12. #52
    action-reaction arco's Avatar
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    Xerof

    ......... Yes, as I said yesterday
    quote:Minor uptrend line approaching captain, prepare
    the reverse thrust.
    entered at 8333 + 60

    arco







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  13. #53
    action-reaction arco's Avatar
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    A test of patience.

    It might be less frustrating watching paint dry,
    although I might have to brush up on my skills.

    Long 8333 + 7 [B)]

    arco



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  14. #54
    Senior Member slam's Avatar
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    Tested mine, stopped out[:I]

  15. #55
    action-reaction arco's Avatar
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    However I look at this, it would seem technically
    there should be a northbound swing move of some sort
    before too long.

    GBP looks over done at the moment with various minor
    supports positioned in the area down to Gann levels
    at 8311/8189. Hedge your bets.

    arco



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  16. #56
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    I am a glutton for punishment

    Back in long on the Pound

  17. #57
    Guru Xerof's Avatar
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    sold a sliver of mint wafer here at 1.8269, but not looking for too much, as selling EUR/GBP appears to be flavour of the day

    Stopped at 1.8296 - no joy

  18. #58
    action-reaction arco's Avatar
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    Could be turning as mentioned yesterday.

    quote:...........it would seem technically
    there should be a northbound swing move of some sort
    before too long.........
    GBP looks over done at the moment with various minor
    supports positioned in the area down to Gann levels
    at 8311/8189.

    Slightly underwater @ -17

    ......but when Butterflies really fly north it can
    be a very pretty sight

    arco



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  19. #59
    Senior Member slam's Avatar
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    I get a channel on this pair at the mo
    1.8280 - 1.8325
    so with that in mind, just picked up another of the low

    Cheers Slam

    Edit: 1 hour chart

  20. #60
    Senior Member slam's Avatar
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    bit tight on my range[:I]
    but still a channel imo

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