GBPUSD Discussion Only

[astro]

Yep, the bulls are here alright!


Lot's of indications supporting the bullish move:
1. Price broke yesterday's high during asian session.
2. Price broke last week's high.
3. Price found support @ 8900.

Once it broke the asian session high it was the signal for me to go long. All resistances are now broken!

Cable is now seeing 9000 as a resistance and I still have part of my position running. I have a feeling the bullish run is not over yet. Stop @ 8970.

Astro

[gscull]

After a lot of stalling cable has risen to hit my target of 1.9031 for a total of 365 pips in 11 days. The question is how much higher will it go?

[astro]

GM everyone.

Today we have one of my favourite setups:
Cable has been ranging in a tight range starting at the Asian session.

We have two possible scenarios:
1. Long (more probable): price will break the resistance, pull back and continue yesterday's bullish move to probably test the 9100s.
2. Short (less probable): price will break the support, pull back and continue down to 38%, 50% or 62% fib ret level.

I'm ready for both scenarios

Astro

gscull, nice move! I don't have the nervs to keep my trades open through the night, not to mention 11 days!

[gscull]

Thanks Astro. I was worried for a while the price had seemed to stall. I tend to trade of the daily chart, I find shorter time frames have too much 'noise' on them.

[astro]

Originally Posted by gscull

I was worried for a while the price had seemed to stall

You were worried? I'd get a heart attack watching 200 pips evaporate (and then come back...)

Well, I guess that's one of the reasons I don't trade off daily charts...

Anyways, today's setup didn't reach its target and hit the SL (that's ok, this is what SL is for ). The swissy had a better move which covered for the losses.

I'm done for this week, see you all next week!
Have a good weekend!

Astro

[wowcrazy]

Man, I was shorting the GBPUSD, but got stopped out @ 1.9070 (a few pips above last Friday's high) before this pair reversed.

[astro]

Yep, very choppy lately.
I got hit in my face yesterday.
I'll try to recover the losses by the end of this week. I think I won't trade cable until it it breaks above 9100 or below 9000.

[FXGenius]

Hi,

I did not get the chance to trade this week, but what a perfect week it was! though I am still busy but will strive to trade next week.

For now, according to my analysis, next week cable may first head up to 8770/80 before hitting 8570/50, will keep an eye keep updating.

Not very much move is expected on economic news,except for on UK Nationwide Consumer Confidence and US Non-Farm Payrolls. I expect the next week to be either choppy or in a range.

Key economic news for the next week are as follows.