and if so is the neckline indeed broken..
it seems to be me the GU is now on a downhill from here onwards..
GL..
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
Nevertheless will be selling GU 5960ish for a 5887 tgt..
stops are coming above 5995... likely 6010... but will be tight on it as usual..
GL..
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
Nevertheless will be selling GU 5960ish for a 5887 tgt..
stops are coming above 5995... likely 6010... but will be tight on it as usual..
GL..
wow.. a mate jsut prompt me that there is a big UK data and hence I now be still selling 5991-95 with stops above 6010...
GL..
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
Price is very oversold - this is by itself not a reason to buy - but I suspect that others might and that we will retrace a bit of yesterday's decline. The 1.6050 zone is right now the optimal sell zone as long as we trade under the 1.6150 high. I hope that the strong sell-off the last few day's proves that this is a worthwhile strategy to use.
I think it will be very hard to trade lower than 1.5850 today which makes this a good level to book profits on short positions.
1hr time frame
Last edited by Alejandro Zambrano; 05-16-2012 at 05:01 AM.
GU 5790 is the actual initial and 1st tgt more to follow
GU has been nice to me I shorted 5976 and down lower and covered all but loner at 5888 touch. took scalps long and done on them for 8 and 13 pips..
GU 4 hrs and 5790 seems to be the 1st actual tgt b4 we head lower to it as well..
currently we at a decent supp but suspecting a break eventually today .. 5936-42 is max i see on rallies and selling on strength is the theme song here..
GL..
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
I am short GBP/USD and have lowered the stop loss so its sits just above the most current high. I had already a short position at 1.5321 but I closed that one on the dip as they entry was not good.
This is the same setup I presented in today's edition of Bulls vs. Bears.
FXCM Speculative Sentiment Index (SSI) Statistics for 5/17
FXCM Speculative Sentiment Index (SSI) Statistics:
SSI: GBPUSD Ratio Widens Despite Dovish BoE Report
Hello Traders! Here is the SSI report for today!
Have a great trading day!
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The pound dropped like a rock after the Bank of England Inflation Report stated that inflation would hover around 2% for the next 2 years. Interest rate expectations are the chief drivers of Forex rates and the prospects of a rate hike from the Bank of England vaporized.
The pound dropped over 80 pips in 5-minutes from a high of 1.5972 to a London session low of 1.5888.
I went long 1000k at 1.5895, catching the proverbial falling knife, to grab 6.8 pips in 5 minutes. I jumped back in again at 1.5909 as price broke above the S2 Daily Pivot to grab 10 more pips. This trade took a little bit longer at 10 minutes for 10 pips. So I am doing about a pip a minute.
I quickly noticed a similar rebound in the AUD/USD when UK- Nimmy asked for my 5-minute Elliott wave count. When Nimmy asks me for a count, I know there is a trade on her/his mind.
I got long at 0.9905 and limited out 10 minutes later at 0.9915.
I did some scalping in gold but my one-click settings were too tight for the the wider spread on Gold and I was stopped out as soon as I placed a trade. After making the adjustments, I scored 107 so I had mixed results and ended up -2.1 pips
Trader, Gregory McLeod moderates the DailyFX Forum.
If you are a new user to the DailyFX Forum, or not sure where to get started, please go to: How To use the DailyFX Forum and Introduce Yourself! Section. I’ll introduce you to the community and point you in the right direction.
Please use the “Ask the expert” section to ask me trading questions or reply to me in this thread.
Webinar: Watch me Trade Live Tuesday, Wednesday, and Thursday at 5:30 ET/9:30 GMT inPip & Run Trading Room.
Sometimes im wondering why is this place so dead?
When I started to trade I was looking for forex website to read some other people´s analysis and opinions.. and so far I find this one the best.. so why is forum on the most commercial Forex website so dead? I mean.. there are millions of traders out there!
I agree there are over 2000 trader that visit this thread on a weekly basis but only a few post - thank you for posting Allan
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Originally Posted by stryker 
