I expect 1.45 to be the next level of significant support
GBP/USD Trading
- Thread starter increasenow
- Start date
thanks...what time period?...tomorrow?this week? two weeks?this month?...just curious as to your thoughts on this...
Based on the chart I posted I'm looking in the 2-4 week time frame.
Hey SchraderTrader...what % of the time do you trade the GBP/USD compared to others?...how many GBP/USD trades per day?...time period you hold those GBP/USD trades?
I trade in my spare time whether it's at night watching TV or early in the AM before work.
I try to find some larger swing trades whenever possible such as USDCAD (.618 retracement resistance @ 1.2125 - adding on short positions in 1.2110-1.2125 range) and the GBPUSD (chart shown earlier). I trade whenever I see an opportunity so the % of this or that doesn't really factor in.
I'm still feeling out the various pairs but at this stage I like GBPUSD and USDCAD. I'm also not opposed to EURUSD.
I try to find some larger swing trades whenever possible such as USDCAD (.618 retracement resistance @ 1.2125 - adding on short positions in 1.2110-1.2125 range) and the GBPUSD (chart shown earlier). I trade whenever I see an opportunity so the % of this or that doesn't really factor in.
I'm still feeling out the various pairs but at this stage I like GBPUSD and USDCAD. I'm also not opposed to EURUSD.
cool...hmm...so you really like the Fib's...
Not especially - they just provide useful areas to look for sup/res. I'm an equity man by nature but with currencies I simply check out the charts and get a feel on the longer term scales for where something's headed, then scale in to the shorter term and see if opportunities exist to travel in the LT on a ST pullback/correction. Fib helps to that end.
Couple GBPUSD charts
1.48 GBP/USD finally taken out...time to go to bed...hmmm, wonder if the GBP/USD will be between 1.46--1.47when I wake up...CST Chicago Time...should I short and set a 30 pip stop...is that enough?
With the Gbp/EUR rising looks like another 300 pips down. I don't see a bottom until 1.39. For anyone to go long right now would be a sure fire loss.
Akuma
Akuma