GBP/USD trading

KS96 · May 8, 2008

getting ready to short...

Manni · May 8, 2008

Quote from Manni:

long 19525 - stop 19495

stop a b/e

looks like it may pull back a bit more to 19640, but i dont really want to hold a position when they announce the new Interest rate for UK.

KS96 · May 8, 2008

Quote from Manni:

stop a b/e

looks like it may pull back a bit more to 19640, but i dont really want to hold a position when they announce the new Interest rate for UK.

1.9640 (spot) is out of reach in my charts.
1.9590 max, or around here (1.9560).

Manni · May 8, 2008

Quote from Manni:

long 19525 - stop 19495

thats some pump on the GBP - wasn't expecting that

move stop up to 19560. i may let this ride through the news as there's a lot more room now than i expected.

KS96 · May 8, 2008

Why don't you just get out while you are still ahead?

Manni · May 8, 2008

Quote from KS96:

Why don't you just get out while you are still ahead?

my stop will give me 35 pts profit. I expect to see 19620-19640 , so i've placed a profit order at that point.

well thats the plan, lets see what happens....

Manni · May 8, 2008

stopped at 19560 +35

will look for another trade after the news is out at 12pm (7.am CET).

I will be looking for a long position, unless it goes below 19540.

da-net · May 14, 2008

thinking time for a bounce back to 1.9694. looking for an entry point on hourly bars

cashmoney69 · May 14, 2008

I agree.. very oversold here it looks like.

JEB · May 14, 2008

Quote from Manni:

stopped at 19560 +35

will look for another trade after the news is out at 12pm (7.am CET).

I will be looking for a long position, unless it goes below 19540.

I agree with you - 1.9540 is a key level of support that's been in place since early this year. Check out the daily chart > http://www.tradinggroove.com/post/2008/05/Pin-Bar-on-GBPUSD-Near-Support.aspx. I'll be going long if we break today's high.