GBP/USD trade idea

The cable has respected the 1.627 resistance level (on a daily chart) for the whole of 2012, but at the same time making higher lows. This is a bullish set up. Price is respecting the trend line and closing in on the resistance 1.627. I think we might see a break to the upside, maybe toward 1.656 (August 2011) or 1.672 (April 2011)?

What do you folks think? :33:

This pair tested its support again, and didn’t manage to break it. That looks like bullish signal to me, but there are still lot of news coming today, so it’s now or never.

I’m already long on this pair. Swaps are killing me LOL.

I’m clinging to a short for the time being. Give it a chance to figure itself out.

Closed my positions, with few pips of profit. I’m waiting to see how this pair will behave after news release.

“Vi veri universum vivus vici.”

if the market isnt sure where to go…why not standby and wait to buy or sell the breakout of this pair
btw…im bullish on this pair, but will only buy if this pair goes back uo

Just to add, we have started this day with bullish candle. Which is a positive sign for buyers. But still not strong enough.

I notice on the 1H chart there appears to have formed what looks like a falling wedge and that’s a bullish signal. And it so happens to be falling on the up trend line :33: Interesting set up we have here. But I would have preferred to see RSI & Stochastic in the oversold levels at this time to give the set up a high probability to long the pair; entry 1.605 SL:1.60 TP:1.62

…thinking about it…:33:

I’m sitting and waiting to see what happens as there is now a build up (or accumulation) of orders, where it’s going up (following the overall trend) or down (as market structure has been broken … think higher higher, higher low). One thing I learnt that is HUGE to being successful is … patience.

Kumo has been broken. Long, all the way.

And this is first time that I use Ichimoku. Wish me luck. :slight_smile:

“Vi veri universum vivus vici.”

Good luck. :wink:

Where is your TP.

Man I should have listened to the signals, and took a ride on the bulls. They are on the rampage, would have been 110 pips up, current price 1.616 :17:

Was. On 1.615 :slight_smile:

“Vi veri universum vivus vici.”

Congrats buddy :35:

Or did you move up TP or it hit & closed out?

I’m done for today. Only one position is left, and that’s because I’m intending to hold it for a while.

“Vi veri universum vivus vici.”

How was it for you today? :slight_smile:

“Vi veri universum vivus vici.”

Live or demo?

Live. Why would I play with demo?

“Vi veri universum vivus vici.”

Wasn’t sure as you said you were trying ichimoku charts for the first time. Brave for trying something new on live so well done.