Thread: Discuss the GBP/USD with a DailyFX Analyst

Originally Posted by fulbecker

wow you certianly know your stuff !....motoring along nicely...thanks Tigger...I am only trading small amounts at the mo...can I ask what size you are trading, sorry to be nosey....just interested to know .....and is this a full time job for you/pay all the bills etc

PS: how do you know it is 100% impossible for market to reverse the longs...

Thanks again Tigger,
Best Regards
Glen

I trade a minimum of 1 million lots, never less, so am a few mill short EUR/USD for example and holding from 1.5100. I trade my simple 'techs, along with my stochastics and MACD. That's it. The MA's I use are generally very reliable. Weekly and Monthly charts arte my default as a rule, as I like a lot of chart movement, thousands of pips in the right direction.

GBP/AUD will still make at least 1,000 pips long, from here. Once price hits one of my weekly crosses, it can only go one way, up or down. GBP/AUD will rise at about the same rate as AUD/USD will fall. EUR/GBP will fall at about the same rate as EUR/USD. GBP/NZD will rise at about the same rate as NZD/USD will fall. GBP/USD is therefore more comparitive with USD than other pairs. Hence, it's a waste of time shorting Cable, as the other pairs fall more quickly anyway.

Originally Posted by Tigger

Don't even bother with a stop Glen, no need. Market cannot reverse these longs, 100% impossible. Look in the AUD room for my posts on targets for long GBP/AUD and GBP/NZD.

Best short Aussie now, whilst there's still some price left in it. Targeting 0.6000 from .9300 myself.

wow, those pairs are trending beautifully.......not so sure I would take the don't bother with a Stop Loss advice, put it far away maybe, but put it somewhere, it's reckless not too

with the Dow taking such a huge tumble one would think Cable is not far behind......

Originally Posted by KP FX Trader

wow, those pairs are trending beautifully.......not so sure I would take the don't bother with a Stop Loss advice, put it far away maybe, but put it somewhere, it's reckless not too

So price slips back a bit, hits your stop, goes back to where it was a few mins later, money gone. Holding position, if a market reversal is underway, then your lot will fill and be in profit in no time soon anyway lol. Like my GBP/CAD long. The whole thing looked so downie, but was brave and bought at 1.5000, and bought again at 1.5000, now price is 1.59 nearly.

As posted in AUD/NZD room, GBP/AUD to minimum price target of 2.000 from here, GBP/NZD minimum price target must be at least 2.5000 from here. Weekly crosses have hit both pairs hard in favour of GBP. Price MUST rise. They all going mad buying these pairs anyway lol.

Originally Posted by KP FX Trader

with the Dow taking such a huge tumble one would think Cable is not far behind......

its interesting because the market seems to perceive the pound as being one of the safer currencies now... but I think the upward move has petered out and the next move will be down, Im just not sure of an appropriate time to short

Originally Posted by Mary R

its interesting because the market seems to perceive the pound as being one of the safer currencies now... but I think the upward move has petered out and the next move will be down, Im just not sure of an appropriate time to short

Daily cross will send it up. Why bother shorting something that's going up? Added long on 10 min.

Originally Posted by Tigger

So price slips back a bit, hits your stop, goes back to where it was a few mins later, money gone. Holding position, if a market reversal is underway, then your lot will fill and be in profit in no time soon anyway lol. Like my GBP/CAD long. The whole thing looked so downie, but was brave and bought at 1.5000, and bought again at 1.5000, now price is 1.59 nearly.

As posted in AUD/NZD room, GBP/AUD to minimum price target of 2.000 from here, GBP/NZD minimum price target must be at least 2.5000 from here. Weekly crosses have hit both pairs hard in favour of GBP. Price MUST rise. They all going mad buying these pairs anyway lol.

When you said "weekly crosses", what sort of 'cross' did you mean? Would you please sharing a bit more? And what MAs do you usually use? Thanks.

Originally Posted by Tigger

Daily cross will send it up. Why bother shorting something that's going up? Added long on 10 min.

I dont have any position in gbp/usd now. I am hanging onto gbp/aud .

Originally Posted by Mary R

its interesting because the market seems to perceive the pound as being one of the safer currencies now...

That's why I'm long the pound right in a big move towards risk aversion ...

I wouldn't like to gond long the GBP/AUD nor the GBP/NZD because of the carry trade. Scares me too much. But there's an opportunity to go short the eur/gbp ...

As far as the GBP/USD is concerned, the pound yields more and is safer than the dollar.
The yen and the swissie are the only ones that can still be even safer than the pound, not the buck.

Originally Posted by Tigger

Daily cross will send it up. Why bother shorting something that's going up? Added long on 10 min.

what about the double top on the 4 and 8 hr charts? it will correct...

Originally Posted by Tigger

I trade a minimum of 1 million lots, never less, so am a few mill short EUR/USD for example and holding from 1.5100. I trade my simple 'techs, along with my stochastics and MACD. That's it. The MA's I use are generally very reliable. Weekly and Monthly charts arte my default as a rule, as I like a lot of chart movement, thousands of pips in the right direction.

GBP/AUD will still make at least 1,000 pips long, from here. Once price hits one of my weekly crosses, it can only go one way, up or down. GBP/AUD will rise at about the same rate as AUD/USD will fall. EUR/GBP will fall at about the same rate as EUR/USD. GBP/NZD will rise at about the same rate as NZD/USD will fall. GBP/USD is therefore more comparitive with USD than other pairs. Hence, it's a waste of time shorting Cable, as the other pairs fall more quickly anyway.

wow thats 100 a pip!!.. wish i could afford that...and have the balls to trade it too lol...so if you're looking at a 1000 pips thats serious profits...the very best of british luck fella ...I may have to ride your confidence and put some serious money into GBP/AUD too....wish me luck......and if you have any other certs please let me know....

All the best
Glen

Originally Posted by AjsooOO

That's why I'm long the pound right in a big move towards risk aversion ...

I wouldn't like to gond long the GBP/AUD nor the GBP/NZD because of the carry trade. Scares me too much. But there's an opportunity to go short the eur/gbp ...

As far as the GBP/USD is concerned, the pound yields more and is safer than the dollar.
The yen and the swissie are the only ones that can still be even safer than the pound, not the buck.

Its debatable which currency is really safer - the US dollar is still the reserve currency and is more liquid than the pound. But the markets seem to approve of the UK's new budget. Budgets are always based on expectations and the British economy may suffer a new contraction if the austerity measures are particularly brutal. In addition, the pound is already 1.50 to the dollar, so alot of the good news is already factored in. If it were 1.10 to the US dollar I could see that it would have additional upside.
the pound is definitely strong against the commodity currencies, and probably has further to run.

EUR/GBP continue to break below 55 days channel!

Break 55 days low channel (@0.8211) and bound back to close @0.8223 on 23rd. June.

Break 55 days low channel (@0.8211) and bound back to close @0.8215 on 25th. June.

Finally break below on 28th. June. Lowest @0.8121, Close @0.8134.

Today break a new 55 days channel low. Lowest @0.8068. Currently trade @0.8084.

EUR is weakening!!!

Originally Posted by Tigger

I trade a minimum of 1 million lots, never less, so am a few mill short EUR/USD for example and holding from 1.5100. I trade my simple 'techs, along with my stochastics and MACD. That's it. The MA's I use are generally very reliable. Weekly and Monthly charts arte my default as a rule, as I like a lot of chart movement, thousands of pips in the right direction.

GBP/AUD will still make at least 1,000 pips long, from here. Once price hits one of my weekly crosses, it can only go one way, up or down. GBP/AUD will rise at about the same rate as AUD/USD will fall. EUR/GBP will fall at about the same rate as EUR/USD. GBP/NZD will rise at about the same rate as NZD/USD will fall. GBP/USD is therefore more comparitive with USD than other pairs. Hence, it's a waste of time shorting Cable, as the other pairs fall more quickly anyway.

Hey Tigger, any chance of me contacting you, could do with some advice,
Thanks
Glen

Originally Posted by fulbecker

Hey Tigger, any chance of me contacting you, could do with some advice,
Thanks
Glen

if forum members want to communicate one on one, use the Private Messaging Feature/ and Friend feature in the Control Panel, see left side of screen..

Tigger, You got a time projection on that 1000 additional pips?
Are you typically in trades for a months at a time???

MACD question: When I back test and look at MACD cross over on a Monthly chart, entry on the cross gets one in real late....
same on weekly