GM TWHM, thanks and you also have a great weekend. currently short on EUR and GBP. 1.6400-05 and 1.6370 has a nice setup. So took them hoping to hold a good swing. Otherwise, buying will continue. Ciao ciao.
[B]BULLISH OUTLOOK[/B]
Even though some amount of selling has taken place, the pair is still adding bullish pressure. We are still buying of the Monthly Pivot swing high resistance @ 1.5920 which we identified last month.
We are currently reacting to the support of the PVSL and HL created on the daily chart on April 5, 2011, which can take price towards T1 @ 1.6524 and possibly T2 @ 1.6660 this week.
Resistance ahead at 1.6350, 1.6380 and 1.6400-10.
http://img685.imageshack.us/img685/1248/guoutlook2.jpg
[B]BEARISH OUTLOOK[/B]
Should price find resistance at the above levels and begin selling off 1.6300 to break 1.6240, we should see 1.5940 or lower this week.
http://img545.imageshack.us/img545/5025/guout3.jpg
Took Profits on EUR and GBP shorts.
Currently long off H1 PVSL support at 1.6308. TP now a 1.6620. Will/may adjust as clearer picture is painted.
Long closed, reversed short 1.6295…Seems we may revisit 1.6240 decision zone.
Early BE, H1 TL acting as support. Trend still showing Bullish.
TP hit at 1.6240. Now long off 1.6240 for1.6550, 1.6660. Resistance at 1.6400
Long stopped out.
All the reasons to Plan the trade, Trade the Plan and [B][U]stick [/U][/B]with the plan.
well, thanks S&P for ruining my day lmao. i swear they are out to get me!
Actually, I take that back. The downgrade gave me a much clearer trend and trade idea. went long yesterday at 1.6312. woke up this morning to see a nice big fat +sign and TP at 1.6377. looking for somewhere to get back in, but all possibilities mean it could have peaked. seems like resistance at ~1.6380 so I am going to stay out of it until it makes a clear move in either direction.
Hello all,
very quiet in here today. everybody busy trading.
seems like the news release took the rate higher. i stupidly made a small loss by clicking the wrong button! made it back thankfully.
Im going to remain bullish until i see some clear reversal indicators.
Hello all,
Hell of a day for the cable so far. Very bullish action overnight and throughout the morning. seems to have gone quiet for now due to a news release but early signs seem to point to further bullishness, but hey, what do i know.
went long in the late morning and it’s gone positive so far. will hang on until i get a clear reversal sign
Hello All,
Last week was quiet busy but still an exciting week. Got some good pips off the GU Long. All four TP levels were hit. Please see my entries below.
Currently watching this short setup on the GBP/USD H1 & H4 Charts. Entered earlier and that pretty spike hit my break even point.
Hi All,
I am watching this short setup on the EUR/USD H4 chart, on the 1.4550 level. Expecting a close below this level and then a retrace to it, to trigger selling towards 1.4250 or lower.
Short setup on the H4 chart at the 11% resistance @ 0.8025-27, TP around 0.7880-0.7840. Awaiting current candle close.
Failure to close below the levels for all pairs will result in the same levels being used as support to facilitate further buying. Candle close key.
Short Triggered!
Short Entry setup on EUR/USD H1 Chart. Candle close needed below the resistance of the PVSH Low. Early low risk entry taken off 1.4628.
Early entry triggered at 1.6539 (Natural Resistance).