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GBP/USD (GENERAL)

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1 GBP/USD (GENERAL) on Sun Apr 03, 2011 11:24 am

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This thread will be used for the general discussion and analysis of the GBP/USD.



Last edited by Admin on Sun Apr 17, 2011 1:47 pm; edited 1 time in total

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2 gu on Tue Apr 05, 2011 12:52 pm

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Guest
gbpusd still in expanding triangle range.waiting for trending breakout.



http://screencast.com/t/JlIDQRqXhNc1



Last edited by budak baru on Tue Apr 05, 2011 12:57 pm; edited 2 times in total (Reason for editing : edit chart)

3 Re: GBP/USD (GENERAL) on Tue Apr 05, 2011 3:13 pm

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Guest
budak baru wrote:gbpusd still in expanding triangle range.waiting for trending breakout.



[url=http://screencast.com/t/JlIDQRqXhNc1
http://screencast.com/t/JlIDQRqXhNc1[/quote[/url]]
Nice chart you have there. Very clean.
Welcome to the thread!

4 Re: GBP/USD (GENERAL) on Wed Apr 06, 2011 5:15 am

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Guest
[quote="tonyo524"]
budak baru wrote:gbpusd still in expanding triangle range.waiting for trending breakout.



http://screencast.com/t/JlIDQRqXhNc1[/quote]
Nice chart you have there. Very clean.
Welcome to the thread!

hi.need advise to attach image.i try but dont know what wrong.

5 gu h4 on Wed Apr 06, 2011 5:34 am

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Guest
gu reach supply zone so im short.

6 Re: GBP/USD (GENERAL) on Fri Apr 08, 2011 2:37 am

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Good morning traders.im looking for correction for gbpusd.confluence with supply and upper channel.

7 gu h1 on Fri Apr 08, 2011 6:48 am

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budak baru wrote:Good morning traders.im looking for correction for gbpusd.confluence with supply and upper channel.


will reload long to upper channel target...

8 gu update on Sat Apr 09, 2011 4:12 am

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Guest
hello traders.1.6458 resistance with upper channel confluence is my next target.monday strategy is to buy dip...

9 Re: GBP/USD (GENERAL) on Sun Apr 10, 2011 9:10 pm

PipChick

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Looking at a possible buy on the GU:

Abc Long in progress on the h1 with an m5 dip with a possible buy area off the 78.6 m5 around 6372 or even the 50 em on the 30 min chart.

GU H1



GU M5



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10 Re: GBP/USD (GENERAL) on Sun Apr 10, 2011 9:13 pm

PipChick

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budak baru wrote:hello traders.1.6458 resistance with upper channel confluence is my next target.monday strategy is to buy dip...


I also think buying dips is the way to go for the GU right now budak :)We could even dip as far as the 50 ema on the h1 but PA on the m15 should give us indication of an entry.

http://forexalliancefx.com/

11 Re: GBP/USD (GENERAL) on Sun Apr 10, 2011 9:24 pm

PipChick

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If this m15 forms a pin, that could be the entry.

GU M15

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12 Re: GBP/USD (GENERAL) on Sun Apr 10, 2011 9:37 pm

PipChick

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The GU m5 exceeded the buy level but the m30 tested the 50 ema while the m15 formed an abc off of the 50% fib. I bought off the m15 50% fib. I will place a stop on a m15 close below the 100% fib.The target for now is 6408 but I will calculate a more precise target if the 50% fib holds.
GU M15


GU m30

http://forexalliancefx.com/

13 Re: GBP/USD (GENERAL) on Sun Apr 10, 2011 10:03 pm

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Guest
PipChick wrote:The GU m5 exceeded the buy level but the m30 tested the 50 ema while the m15 formed an abc off of the 50% fib. I bought off the m15 50% fib. I will place a stop on a m15 close below the 100% fib.The target for now is 6408 but I will calculate a more precise target if the 50% fib holds.
GU M15


GU m30


this is also a possibility - partial declines most of the times @ 38.2 but sometimes 50% --

14 Re: GBP/USD (GENERAL) on Sun Apr 10, 2011 10:15 pm

PipChick

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gucci wrote:
PipChick wrote:The GU m5 exceeded the buy level but the m30 tested the 50 ema while the m15 formed an abc off of the 50% fib. I bought off the m15 50% fib. I will place a stop on a m15 close below the 100% fib.The target for now is 6408 but I will calculate a more precise target if the 50% fib holds.
GU M15


GU m30


this is also a possibility - partial declines most of the times @ 38.2 but sometimes 50% --

I was looking at that myself gucci and we do run the risk of a deeper retracement to the 6290 or even the 6170 area you mentioned. I think I will close the trade for a small loss if we close below the m30 TL and wait for a better price.

M30:

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15 Re: GBP/USD (GENERAL) on Sun Apr 10, 2011 11:00 pm

PipChick

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UPDATE:
I scaled out of this trade and moved the stop to break even. I set the target at 6418 ( a few pips below the D target of 6424.) GU m15 is also in the process of forming an inverse HS with the target being the 6444 area.

GU m15


http://forexalliancefx.com/

16 Re: GBP/USD (GENERAL) on Mon Apr 11, 2011 6:52 am

PipChick

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PipChick wrote:UPDATE:
I scaled out of this trade and moved the stop to break even. I set the target at 6418 ( a few pips below the D target of 6424.) GU m15 is also in the process of forming an inverse HS with the target being the 6444 area.

GU m15



I made a few pips out of this before it went south. Looks like we are trading in a 15 min channel at the moment. I will consider buying at the bottom of the channerl or on a close above the UTL of the channel.

GU m15



http://forexalliancefx.com/

17 Re: GBP/USD (GENERAL) on Mon Apr 11, 2011 10:17 am

PipChick

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GU m15 update:
Price closed above the m15 UTL of the channel. Looking for a possible buy on the test of the UTL or a slight pullback.

GU m15



GU m30 price needs to remain above and not close below the TL.

GU m30

http://forexalliancefx.com/

18 Re: GBP/USD (GENERAL) on Mon Apr 11, 2011 11:41 am

PipChick

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GU h1 target is around 6492.The 15 minute channel TL held. Good idea to scale out as soon as possible and move SL in these slow mkt conditions.



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19 Re: GBP/USD (GENERAL) on Mon Apr 11, 2011 12:19 pm

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Guest
I've been trading the channel for some time now. I always close in the 1.64 area. Reason in the chart. If it pops, it pops, but until this area in the chart is cleared, I don't take the risk.

the same is true for e/u around 4444.

20 Re: GBP/USD (GENERAL) on Mon Apr 11, 2011 4:22 pm

PipChick

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Mr Hatch wrote:I've been trading the channel for some time now. I always close in the 1.64 area. Reason in the chart. If it pops, it pops, but until this area in the chart is cleared, I don't take the risk.

the same is true for e/u around 4444.


Its a waiting game right now Hatch.

http://forexalliancefx.com/

21 Re: GBP/USD (GENERAL) on Mon Apr 11, 2011 4:27 pm

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Guest
I too was looking a GBPUSD. I am looking for a low risk short however. We have been testing last months highs over the past two sessions, and seem to have found a few sellers. In addition, we ae very close to 6284, which has been stiff monthly resistance since mid-2009(second chart).

22 Re: GBP/USD (GENERAL) on Mon Apr 11, 2011 4:35 pm

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Guest
PayTheLimit wrote:I too was looking a GBPUSD. I am looking for a low risk short however. We have been testing last months highs over the past two sessions, and seem to have found a few sellers. In addition, we ae very close to 6284, which has been stiff monthly resistance since mid-2009(second chart).

not a bad idea to short - i still stand with low's of 1.6130/70's

23 Re: GBP/USD (GENERAL) on Mon Apr 11, 2011 5:21 pm

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Guest
PipChick wrote:
Mr Hatch wrote:I've been trading the channel for some time now. I always close in the 1.64 area. Reason in the chart. If it pops, it pops, but until this area in the chart is cleared, I don't take the risk.

the same is true for e/u around 4444.


Its a waiting game right now Hatch.

My setups are completely out of sync atm...

24 Re: GBP/USD (GENERAL) on Tue Apr 12, 2011 6:07 am

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Guest
Short a little from late NY, sold a tad more this morning, stops at BE. Caught a break with the lower inflation data. Closing in on some support 6209/6230 ish, which might hold them for the day. Will look to add on a break of that zone, with a target of 6060ish, or around last months close. EUR/GBP also breaking to the upside. Good luck, PTL...

25 Re: GBP/USD (GENERAL) on Tue Apr 12, 2011 10:05 pm

PipChick

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I would like to see a 50% retracement on this h4 chart for a possible buy. Seems like this 38.2 is holding for now so I am not comfy shorting it.

GU H4

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