Thread: Discuss the GBP/USD with a DailyFX Analyst

Originally Posted by Alejandro Zambrano

According to Bloomberg this is the 10th day with GBP gains and the best winning streak since June 1992 - no wonder that people are looking for a reversal. The FXCM SSI index tells us that there are 6 times more traders being short than long. This tells us that we can continue to trade higher.

As the SSI is so strong please read this What is the Number One Mistake Forex Traders Make? | DailyFX

I'm short on it from 6220 and 6249 for now.. I was kinda wondering this out.. It's been a good day so far, with euro shorts profited at 3160 and longs from there and now short hedges if from 3267.. shorted DJ 13240 and made decent while still holding a loner.. I suppose I will wait on gold to see if it closes above or below 1666 for next move...
gonna hold on to gu for a short while if no scenario of turning back i will cut loss on it..
Though USD looks heavily bearish on charts for now... and if it fails to head back above the supp turned resis; I think more gains to come on stocks / gold / currencies...

GL..

GL..

BTW - 2011 top was on april the 27th

Originally Posted by fazi

BTW - 2011 top was on april the 27th

Indeed! Hmmm, just back in and can't believe we've trucked this much higher. 1 pip away from 1.6280...

Originally Posted by Arumi

The Delta book is so terrible wrong this time, in which the period from 21.4 to 27.4 actually is a big rally for GU not a big drop.
I still hold my position, looking to add at 1,6280. In case the pair drop lower aiming for the first target 1,6150; and tend to move sl to break even as soon as possible

I don't understand this comment ? Delta /Matrix is just the system. Similar to Elliot Wave or any other form of analysis. It's the interpretation and use of that system that's important.

I'm quite happy with my current counts.

Looking for a high next week. My 32 lunar month Delta #5 high is due May 2. Could be a super shorting opportunity!

Originally Posted by JohnG_FX

I don't understand this comment ? Delta /Matrix is just the system. Similar to Elliot Wave or any other form of analysis. It's the interpretation and use of that system that's important.

I'm quite happy with my current counts.

John,

take a look at this:

FX Options- Options Quotes & Calculator, charting, candlestick indicators, options skew

the way I read the skew - top soon, correction arround august, september (autumn) SLTD bottom?

what do you think?

Hi JohnG,
My 32 LM solution looks as though your ITD solution is now moving to your #12 high and there will be an IBP low with the #1 and #2 points both being highs. Just thought I would let you know. Good trading to all.

Originally Posted by Howdyy

Looking for a high next week. My 32 lunar month Delta #5 high is due May 2. Could be a super shorting opportunity!

Well, three more days at this pace will surely teach people not to short the cable

How its has worked out so far this lunar month.

Originally Posted by Howdyy

How its has worked out so far this lunar month.

Howdyy - when is ITD7 due?

here is an interesting chart (courtesy John Kicklighter) showing 2 previous 10 day rallies (over 30 years) were followed by epic collapses:

Chart.ly - johnkicklighter: Here is a chart of the cable's epicness. 30 years. Different feel to previous 10...

Patryk

Originally Posted by fazi

Howdyy - when is ITD7 due?


Patryk

Found these fib extensions just below 1.6300.

Fazi,
The first high point for the next lunar month (30) is due May 11.

Originally Posted by Howdyy

Sorry. It seemed the MTD was very poor and not useful to me personally, so I deleted it from my computer.

Originally Posted by Howdyy

Hi JohnG,
My 32 LM solution looks as though your ITD solution is now moving to your #12 high and there will be an IBP low with the #1 and #2 points both being highs. Just thought I would let you know. Good trading to all.

My ITD12 came on Monday - so it's already been and gone. If you look on my Blog at the post I made on Sunday titled "Cable Delta : 23rd April" you will see where I made the call for this move higher.

Originally Posted by fazi

John,

take a look at this:

FX Options- Options Quotes & Calculator, charting, candlestick indicators, options skew

the way I read the skew - top soon, correction arround august, september (autumn) SLTD bottom?

what do you think?

Hi Patryk

Yup - I'm thinking along the same lines

Originally Posted by JohnG_FX

My ITD12 came on Monday - so it's already been and gone. If you look on my Blog at the post I made on Sunday titled "Cable Delta : 23rd April" you will see where I made the call for this move higher.

Thanks for your comment. I will not question your analysis any more.

However I will add JohnG, it was your MTD solution I deleted from my computer that I obtained from your blog.

Originally Posted by fazi

Howdyy - when is ITD7 due?


Patryk

Here is the next 32 lunar month solution for May 6 to June 4 full moon dates.