Thread: Discuss the GBP/USD with a DailyFX Analyst

GBP/AUD starting to perk up intraday.

does someone have an average draw down formula or calculator they can post??

would this work?
number of total trades taken/total pips lost=average draw down in pips??

Two high probability scenarios for GBP/AUD intraday.

Originally Posted by Sean Hyman

Two high probability scenarios for GBP/AUD intraday.

nice, converging support lines, helpful, thanks!

Originally Posted by KP FX Trader

nice, converging support lines, helpful, thanks!

ou're welcome. It's moving up nicely now.

It sure is, closed out my short at 1.4570 for 80 pips profit and went to bed early last night, boy am I glad I did, long term seems bearish still but 1.50 is a real possibility in the short term.

Originally Posted by TAfool

Safety first! Stops to 1.4620(7) to lock. It's a crazy market. Don't want to lose good gains

TAfool

gd call.
i was greedy.waiting for my 144++..come out fm loo, profits gone,sigh.
now dows up, gbp 4hrs supported, eur forming base & big boys buying/intervention?
does it seems like a call for long in this pair now?

hope hear fm everyone...tks.pe

Originally Posted by Panda Eyes

gd call.
i was greedy.waiting for my 144++..come out fm loo, profits gone,sigh.
now dows up, gbp 4hrs supported, eur forming base & big boys buying/intervention?
does it seems like a call for long in this pair now?

hope hear fm everyone...tks.pe

I'm still holding long since 4530. It's a cross tend rally off the daily/weekly chart. I'm watching the 4800 area right now. That is where prior support was at. Then we can guage how shallow the drop back to teh 46xx/45xx area is from there.

Originally Posted by djindyfx

I'm still holding long since 4530. It's a cross tend rally off the daily/weekly chart. I'm watching the 4800 area right now. That is where prior support was at. Then we can guage how shallow the drop back to teh 46xx/45xx area is from there.

tks..but real hope not see there 1st b4 drop..
hmm...maybe the other way round hehe

...love pe

Bias is short but more upside to come. As per chart notes, no new shorts until line break.
The patterns shown are smaller patterns within a larger one (4hr chart previously posted). Next full target is still 1.3940

TAfool

Originally Posted by djindyfx

I'm still holding long since 4530. It's a cross tend rally off the daily/weekly chart. I'm watching the 4800 area right now. That is where prior support was at. Then we can guage how shallow the drop back to teh 46xx/45xx area is from there.

what are you looking at right now djindy? we hit downtrend line from 5500.. strong resistance at 4750 pushed as back big time but we got some support at 4670-80 area.. theres still room for up but im not quite confident if we go lower than 4670 before more up..

thanks

closed a long placed at 4627 yesterday with Limit order at 4725, 98 pips!
I still have a small position long, sitting tight for now til Non Farms tomorrow.
Price is likely to stay within tight range til then. When significant S/R breaks will re-evaluate, may look at some entry orders above or below S/R whatever the case may be.

Originally Posted by ponzmedulla

what are you looking at right now djindy? we hit downtrend line from 5500.. strong resistance at 4750 pushed as back big time but we got some support at 4670-80 area.. theres still room for up but im not quite confident if we go lower than 4670 before more up..

thanks

There is still support off of 4550 / 4600 area. We have not made a higher high today.. Today could be the failed new high. More information will be revealed after todays daily bar closes.

Originally Posted by djindyfx

There is still support off of 4550 / 4600 area. We have not made a higher high today.. Today could be the failed new high. More information will be revealed after todays daily bar closes.

by failed new high, does this suggest we could be on reversal already and might not get to 48004900 anymore? im looking to establish a long for one last pop up to 4800-4900, but considering the development it seems better to just stand aside for the moment i suppose..

thanks

Originally Posted by daviedave

yes i did it was a good trade

WATCH 6.03.2010 Scalping Video HERE
Hello Dave, I mentioned you on this latest video. Thanks for the feedback.

I had a busy morning as I was able to close 31 trades in pretty short order all on GBP/USD. Most of the trades were closed before the start of the video. I believe GBP/USD can go lower, however, anything can happen and I would not want to overstay my welcome!

Still waiting for the other 4 trades to close. Will post those results later on.

I gave a little walk through on how to access the new DailyFX+ course.