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GBP/USD trading
- Thread starter nik1033
- Start date
I'd say we are getting to the critical mass stage. If you look at just price and nothing else.......I have the pound beginning a long term down cycle back in January and (finally) entering a shorter term downward cycle on April 6. I have been building shorts around 1.97. I just hope we find out soon. We could build value for several more days/weeks. Who knows.
Quote from cashmoney69:
.
Cable looks to be coinciding with your charting now...touching the upper end of that trend line as well as the previous 1.99 figure (upwards resist).
My chart (daily)...
<a href="http://s24.photobucket.com/albums/c26/sammybiker/?action=view¤t=gbpcopy.jpg" target="_blank"><img src="http://i24.photobucket.com/albums/c26/sammybiker/gbpcopy.jpg" border="0" alt="Photobucket"></a>
i'm going to try and buy the dips at 9834, 9807, or 9779.
Bump!
I'm looking to see some more downrun with the GBP and today's pop looks like a good selling op into the range that we've had over the last couple of weeks...
Below showing the hourly with the descending resistance levels along with a slow upwards moving support line.
<a href="http://s24.photobucket.com/albums/c26/sammybiker/?action=view¤t=gbp1hour.jpg" target="_blank"><img src="http://i24.photobucket.com/albums/c26/sammybiker/gbp1hour.jpg" border="0" alt="Photobucket"></a>
Thoughts?
I'm short @ 1.986 with a second limit sell sitting @ 1.994. S/L is above 2.002 & T/P is scaled, starting @ 1.972ish
I'm looking to see some more downrun with the GBP and today's pop looks like a good selling op into the range that we've had over the last couple of weeks...
Below showing the hourly with the descending resistance levels along with a slow upwards moving support line.
<a href="http://s24.photobucket.com/albums/c26/sammybiker/?action=view¤t=gbp1hour.jpg" target="_blank"><img src="http://i24.photobucket.com/albums/c26/sammybiker/gbp1hour.jpg" border="0" alt="Photobucket"></a>
Thoughts?
I'm short @ 1.986 with a second limit sell sitting @ 1.994. S/L is above 2.002 & T/P is scaled, starting @ 1.972ish
I'm trying to find a place to go long for a swing trade, if the darn thing ever breaks out of this channel.
Quote from cashmoney69:
I'm trying to find a place to go long for a swing trade, if the darn thing ever breaks out of this channel.
Long on the break of 1.97 maybe? 1.968 looks like it will be hitting that upward moving trendline. Target being north of 1.98...?
You're looking to play this overall ascending triangle range, correct?
<a href="http://s24.photobucket.com/albums/c26/sammybiker/?action=view¤t=gbpdaily.jpg" target="_blank"><img src="http://i24.photobucket.com/albums/c26/sammybiker/gbpdaily.jpg" border="0" alt="Photobucket"></a>