Price is moving to the 3 high due about 17:00 today NY time. I am looking to sell the next rally on the 5 minute chart for a move to the 4 low, looking to pick up maybe 35 pips or so.http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6690&stc=1&d=1180980495
GBP in Danger , However... http://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6744&d=1181471668
Still wiating............ http://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6755&d=1181598858
Targrt Hit......BUT!!!!!!!!!!!!!!! http://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6756&d=1181645240
Hey Guyz , Hope you got some profits from last trade, My Long was at 9665 , TGT 9743 ( at 38.2% ) , The pair has hit the tough resistance 9750, but couldn't even crack it , Although the pair managed to climb higher , but i was anticipating larger infaltion numbers , Be careful today o.k , we need to see a clear break above 9750 to open the way for the bulls , Right now we should wait for a re-test of 9750 , My strategy would be : SELL a Failure at 9750 ( More likely ) , BUY a CLEAR BREAK , But would prefer to sell rallies towards the later .Be careful don't jump in till u confirm your thoughts, waiting for stochastic to unwind , to choose a direction , ANY IDEAS ????
Next Trade : Sell Order at 9745 , TGT 9725 ( Short-term trade ) .
Notice : Guyz these ae my own Ideas , please trade at your own risk , just sharing others , GOOD LUCK
Divergence
Hi all...not been on here for a VERY long time.
A few old names but not many..
i can see divergence on the hourlies...any thoughts???
Could this be a buy??
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6759&stc=1&d=1181653856
Possible short here in gbpusd coming up. See attachment.
http://i19.tinypic.com/5zf5ikm.jpg
Waiting..........!!!!! http://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6787&d=1181770857
Well ,Hi Richard , No I didn't manage to gain profits on that trade as My SL was at 9760 , However I went Short again at 9767, TGT was 9708 as I didn't expect the 9700 support break , As I noticed that pair is Crawling and couldn't withstand further upward momentum + Expected Good US Spending Numbers , and evaluated the market risk would cause the pair to fall before another leg up is confirmed.( Thanks for Asking http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
Now, I see the pair in side movement after nice pullup from today's lows , forming a Beautiful wick , which indicates pair Bullishness , However last time I posted the chart I said " We need to clear 9750 + A close above 38.2% at 9743 to confirm upward momentum " , we DID break the 9750 region , BUT couldn't close above 38.2% , Now inorder to confirm my point of view , We need to see a close above 38.2% and a brak of 50%.
I Expect Bullish bias ( short-term ) , But will not enter market until a direction have been cleared. GooD Luck
Trend in play !! http://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6797&d=1181812129
Hey guyz , we are very close to the trend seen above on chart , entered long at 9680 , TGT 9800 (where the 20day MA is) , well Hope that the trend would hold as a break of this trend is catastrophic for the pair.
Hourlies seem a bit O/S , this would help a bounce to 9700 region once more , I wold flat on a failure at 9750. GOOD LUCK
NOTE : SL at 9640
Great analysis JAMIE...I totally agree http://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6822&d=1181947176
Hey Guyz, Just wanted to say that I totally agree with Jamie's analysis On usd/yen , Please notice that chart , the Monthly RSI is well supported by a rising trendline , the pair is not yet overbought , notice the channel we're in , the MACD is moving upwards , but I think we could face a tough resistance at 125.73 , a clear of that would open thae way to 127.97......Very nice work jamie.http://www.learncurrencytrading.com/fxforum/images/smilies/wink.gif
Note: This is a LONG term analysis , will post short-term later.
Another Note : All the fx Moderators are Highly advanced technical Analysists , better take their advice.....or even think using their way of view.GOOD LUCK
Happy trading.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6812&stc=1&d=1181902363
Nice trade, nik.
As for the short-term direction of the GBP, I think it may be lining up for a nice short.
You can check out Jamie's analysis on the elliott wave structure of the move here.
Personally, I think that the 61.8% Fib of the recent bear wave will hold as resistance. The hourly chart shows that price appreciation has slowed at this level, increasing the likelihood of a top. Staying below this level eyes a retest of the previously mentioned rising trendline at approximately 1.9680. Viable stops may have to be a bit loose, however, with nearest viable levels at a minor falling trendline above 1.9910.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6829&stc=1&d=1182154356
This is an update on the GBPUSD structure. The decline from 1.9780 is either a small b wave or a small wave 2. We will watch the rally to see if a bearish opportunity exists. A rally that stops at 1.9814 will offer a bearish opportunity.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6807&stc=1&d=1181837008
Be careful though, Cable stopped at the 61.8% of the previous decline and the 3 wave rally from 1.9621 is a bearish pattern. Coming under 1.9780 would strongly suggest that at top is in at 1.9840.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6838&stc=1&d=1182178158
The structure in Cable is bullish but the correction that began at 1.9947 is likely to continue for a little longer. Waves 2 and 4 are often similar as far as time is concerned. Wave 2 took 40 hours to complete and wave 4 has only been in progress for 16 hours. So look for weakness/consolidation for the rest of the New York session before the 5th wave rally begins (which should exceed 1.9947). Support is concentrated between 1.9835/78, which is the 23.6%-38.2% of 1.9655-1.9947. The bias is bullish as long as 1.9780 is intact.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6883&stc=1&d=1182440816
At the start of the week, Cable may consolidate/correct a bit. 240 minute RSI is overbought the pair is testing the 5/9 reaction high a 1.9997.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6890&stc=1&d=1182526820
Pound towards support ! Hey Guyz , we did call for 2.00 figure before ,and here we are but what now ?? , that's the important question , we have a busy week , with Homesales and FOMC , with some GBP data , that need some analysis , so jumping into market simultaneously will have bad consequences on everybody.
Now Short taken at 2.0001 targeting 9960 ( above the rising trend line by about 10 pips ( just moved the stop to entry ) , as you see the pair is capped by 2.00 resistance , although we had a slight break , I wouldn't be satisfied with that break with a very quick drop back below 2.00 . GOOD LUCKhttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6897&d=1182773718
I Agree with that Notice the chart , we had a daily close above the declining trend line , with speculative positioning suggesting a move higher and a Nice 9885 support that held beautifully , then we might see the pair breaking to 2.00 level once more http://www.learncurrencytrading.com/fxforum/images/smilies/cool.gif
http://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6863&d=1182426244
I see Cable coming down towards 1.9885/9900 in a small wave c (in order to complete the larger 4th wave) before a thrust to a new high in wave 5.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6911&stc=1&d=1182859118
Target Hit !!!! http://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6901&d=1182787313
See the Chart ! http://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6916&d=1182869497
There is still the possibility that Cable moves a bit lower to test 1.9900 but every tick lower increases reversal potential (higher). The low today is at the 23.6% fib level of 1.9655-2.0014 and the rally since then is impulsive. A bullish bias against 1.9927 is warranted. Look for a test of 2.0130 in the next few days.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6928&stc=1&d=1182948822