Missed that move this morning, (AR highs were taken out on my feed by a few pips). Got in on AR low retest around 1.3045. That 1.3020 level needs to give up soon if we’re to slide lower, its providing a lot of support at the minute. I guess one way or another it’ll be taken out on Friday or we may end up around 1.31…
Nice, at bloody last 
Taking profits at some key levels along the way… Stops trailed, just behind BE on the way down, trying to get into the habit of moving the stops slowly/incrementally…
I’d like to see 1.2980 tagged… Not sure we’ll see that today though… Small portion left on incase we do…
and you caught another one…
was hesitant when price was between CP and yesterdays AR low…
with usdx at resistance (r1) and cable above s1… was seeing the potential for a NYO reversal - I guess in the back of my head, I still want to see a high of the week triggering my limit sell orders;)
now that week ends prematurely and slightly disappointing for me, as I have some other matters to attend for the rest of the week… maybe a good thing to clear my mind off anything forex…
currently I am stuck and I need to figure out what I need to do/change in order for me to move up the next step of this ladder (to start turning my analysis into bigger profits - execution…)
Ill get there eventually;) but for now I wish you all a good weekend;)
cheers
If you’re finding that you’re mostly along the right lines in terms of bias on a daily basis, start working on your entries. Patience is really key here. Keep watching and dont rush it. Limit orders are fine, but sometimes entry at market is much more beneficial, afterall its not an exact science.
Stick at it!
Great advice in the comment below; I need to spend more time on this thread. I’m thinking that a big chunk of the weekly move will occur on Thursday. I was originally thinking that it would be a bullish move, given that it’s based on ECB comments, and we’re below the equilibrium. I figured the early part of the week would be a drop to create a low, followed by the start of a move up. Now I’m thinking that this might be a bearish week after all. I’m planning to look on the 1H tonight for divergences, whether off of price versus an indicator or versus the USDX. Any thoughts about how tomorrow will unfold.
What i can see from today that USDX and Bonds diverging, interesting…
cable is at lower end of 200 pip range, some 50 pips away from the stops below 4980
usdx at fib reflection, resistance 82.50, stops at 8287-ish, neat double top on intraday. Usdchf 70 pips from the stops at 9520, and fiber in similar setup as cable. Usd may soon turn down in dx and swissie, and pairs up, after going for their respective levels, with this week providing the setup. will be looking for spikes through the levels, though we may need to wait till Friday for this sort of scenario.
We’re approaching some interesting levels on the Fiber and USDX:
Current range: 1.2662 -> 1.3711 (13 Nov 2012 to 1st Feb 2013)
62%: 1.3060 <-- nice action around here for shorting the past few days…
OTE: 1.2970 <-- almost today
79%: 1.2880/90 <-- talked about this at the start of the week for a final TP or potential target for price (we also had some nice PA around this point)
USDX:
I’d be expecting those stops around 83.00 on the USDX to be scooped if we intend to slide, causing the Fiber to rally and ultimately reverse. This would also correspond quite nicely with the noted Fiber levels above…
Us 10yr this past 3 days on a determined down path, fibre should have been up today - look to see why down.
Key 82.90 on usdx - could see it sooner rather than later. - If bonds continue (it looks probable) then reversal on fibre soon is on the cards.
An agressive buy would be 2950 - but I will wait a little for more confirmation, will wait for the trend shift to actually confirm.
With all the divergence occurring and the fact we have interest rates tomorrow and NFP on Friday we may see some large retracements, I closed out my final position around 1.2970. We got a nice drop off during NY Close to push us below my intraday target of 1.2980. Took the money and ran 
check this out:
One crack has appeared in the USDX which has failed to make higher highs. It may still, but it’s correct to assume we wait for a break down to confirm change in Market Structure, yes?
^^^
Yep -many traders now playing the waiting game - dbl bottom h4, yesterday’s div bonds put the brakes on the slide down - now is the time for patience
So who said its impossible to pick tops and bottoms?
No idea, but I’m still bearish 
We’ll see, short @ OTE zone, I’ve banked my 30 pips and tightened the stops, so it can do what it likes… Of course I will probably get whipsawed out if we spike up and move down, otherwise we’ll see 1.31…
Eitherway, trading with the HTF MS, we’ll see how it plays out…
Hey I am also short but I got in too soon at 1.3027 earlier this morning. 0.7% risk, practice account ahaha so not really worried. Today’s supposed to be full of interest rates discussions anyways.
On a more serious note, I am embarking on an endeavor to chart the [B]TED Spread with the S&P 500[/B]; I cannot find a chart on this anywhere. Also it is extremely hard to get Daily historical data of the LIBOR.
If anyone is interesting in following my studies check it out please. It may turn interesting, maybe it will be a thud.
Also if anyone does have access to a TED Spread chart please let me know
xx
Anyone now what just happend to Cable? any technicals that I overlooked or speeches?
Interest rate decision, refusal of market to move below 1.4980 this month, the falling wedge on the 4hr.
The question you should be asking yourself is, will this have enough momentum to buck the market into an uptrend. I suspect not, but it depends how tomorrow plays out with the NFP.
I would recommend staying out the market until next week. Let the dust settle. It has a lot of range left to retrace further without breaking market structure, 1.5820 is the key level.
or it’s just the famous fly in the face of evidence technique by pound wow, love it! great
Well, indications are that the NFP will be positive for the USD tomorrow, however, whether this has already been priced into the market or not is another thing entirely.
The dilemma with the GBPUSD pair is: If it finds support at 1.49, then it may well target to re-test 1.53. If 1.49 gives way, then hold onto your hats for 1.44.
Last I read was the GBP housing market was starting to get some traction, compounded by the Halifax HPI m/m being bullish for the pair this morning, this may prompt a move up for the pair.
Basically, keep an eye on the fundamentals, they’re your friend. Don’t be lazy about them. Anyone who tells you that you can trade without acknowledging them is tricking you.