i think there 'll be anew highs coming…the dollar is beaten up!!
GBP/USD price action was pretty chill until the New York session. But once the FOMC delivered its statement, all hell broke loose! In the end, GBP/USD found itself settling just above 1.6150.
In the previous week’s trade preview on GBPUSD, i already mention the possibility of GBPUSD re-testing the resistance zone of 1.6300. See link below.
Forex Mind Games: WEEK 37 (10-14 SEPT) TRADE PREVIEWS PART 2
The high for last week was set on Friday at 1.6250, about 50pips from the mentioned 1.6300 resistance zone. How was i able to call it in advance where GBPUSD is going to go? It took me about 3 years to learn this skill. I am not 100% accurate. But i am slowly improving. Trading is about understanding where price wants to go.
Let me illustrate. Imagine i have 3 children. After observing my 3 children for many years, i can make a rather excellent educated guess to how each of my 3 children will behave in certain situations. Lets say i bring to them to a zoo and the children saw a snake. Based on my past observations and my understanding of the temperament of each child, i know how each one will react to the snake. Child A got bitten by a snake before, and he will run away from one. Child B is more adventurous, he is not afraid of snakes and will stroke it. Child C is more cautious, he will hide behind my legs until he is sure the snake is friendly before touching it.
Now imagine Child A is EURUSD. Child B is GBPUSD. Child C is AUDUSD. After watching their behaviors and movements for many years, i had develop an intuitive feel for what they are going to do and where they are going to go. Train your mind to discern the movements of each currency pair you like to trade. For me, USDCAD is sort of a wild child. I have little success predicting its movements. As such, i tend to stay away from trading USDCAD.
The idea is this. Find currency pairs which you can predict the movements with reasonable ease and accuracy. And avoid those pairs where you just cannot make heads and tails of.
Short GBPUSD near 1.6300-30
Stop loss above 1.6350
First target profit 1.6000
Playing the retest of the 1.6200 would have made for a really great day trade! Not only was it a resistance-turned-support level, but we also saw some bullish divergence form!
Hi BigPippin, so you dont post on your Cowabunga System Blog everyday anymore? is it just now like a once/twice a week thing?
Hello, christinaa! Pip Surfer handles the Cowabunga System Blog a.k.a. Pip My System, while I’m in charge of Pippin Ain’t Easy. 
The first day of the week was a real snoozer. The biggest move of the day was the rally after the release of worse-than-expected Empire State manufacturing data, but even that only resulted in a 40-pip move! Boooring!
Because you’re the owner of the cowabunger thread, do you answer questions on the cowabunger system on that thread?
And please help me i want to go onto Pip Surfer’s profile page?
I’m sorry, but you’d have to ask Pip Surfer for that. I was just the thread creator.
Can you say chillin’? GBP/USD stuck within a tight range yesterday, finding tough resistance at the PWH. Would have been a perfect day for scalping!
The previous day high (PDH) held like a boss as it capped off GBP/USD’s gains and sent the market crashing down to the 1.6200 handle. We could’ve made about 60 to 70 pips on that move alone, homeboys!
Taking that bearish divergence signal early in the London session would have yielded us just more than 50 pips!
This post is becoming like a soap opera or drama serial. I have been posting continuously on GBPUSD for past several weeks. Before reading the rest of this post, click on link below to get a re-cap on GBPUSD.
Forex Mind Games: WEEK 38 (17-21 SEPT) TRADE PREVIEWS PART 2
In the link above, I shared that a good potential place to short GBPUSD would be around 1.6300-30. This week GBPUSD tried to push above 1.6300, but it found heavy resistance. Unfortunately, i entered my short order at 1.6315 and order was not filled.
For those who have shorted at 1.6300, you would have made about +70pips. With minimal risk as the highest GBPUSD went was 1.6310.
please help me i want to go onto Pip Surfer’s profile page?
Pound bulls went on a rampage after the public sector net borrowing report was released. They were able to push GBP/USD up to 1.6300 but couldn’t sustain gains past this level. With a bearish divergence providing confirmation, we could’ve made a good number of pips selling at this major psychological handle!
So friend I am surprised that why the people not be the part of the discussion quiet frequently.The pair GBP-USD is most popular in the trading and friends remember the more we discussed the more we learn trading I use to do my analysis over my personal blog and want to share my analysis with the relevant people
GBP-USD technical Analysis | ForexShell
This is an example of why you should pay attention to gaps! Shortly after filling the weekend gap, GBP/USD shot down and retested the 1.6200 psychological level!
