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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

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