Gbp/usd

cruiser13 · Apr 26, 2006

Quote from cruiser13:

Short @ .7845

Stopped out @.7875

Price has held above .7850 even though there is a bearish divergence on the 1 and 4 hr chart. Too much choppiness right now to cleary take a new direction.

cruiser13 · Apr 26, 2006

Short @ .7843. That last jump up to .7910 was not confirmed by the RSI on the hourlies. Now back below .7850 and momentum continues to head down.

ForexPro · Apr 26, 2006

I'd try and short closer to 1.79 for risk/reward purposes.

cruiser13 · Apr 26, 2006

Your probably right. The ADX has not really moved on either of these big moves up or down. So more sideways for a bit I'd guess.

Short @ .7843 - close @ .7846

There is a nice bear flag forming on the hour which I think confrims your view on the USD on the EUR thread.

ForexPro · Apr 27, 2006

Short at 1.787

ForexPro · Apr 27, 2006

Ouch - minus 100pips in about 15mins. Hit 1.80 today too.

late apex · Apr 27, 2006

Short GBP/USD at 1.8027.

ForexPro · Apr 27, 2006

On what basis have you shorted?

late apex · Apr 27, 2006

Exceptional risk/reward here, screaming out at me.

Ivanovich · Apr 27, 2006

He's right, apart from the getting in front of a speeding train analogy.