Thread: Discuss the GBP/USD with a DailyFX Analyst

Originally Posted by ThomasNotas

Sell Entry Order @ 1.6025 (1hour EMA50) with target @ 1,5900(Daily-EMA200)

Are you still keeping that sell order? If we trade above 1.60 then I think we will have created a solid low which can take us back to 1.61.

ECB Stops Monetary Operations to some Greek Banks as recapitalization not in place according to ECB sources. Huge dollar spike resulted!

Did you guys and gals see that one!

Which way do you think the release of the FOMC minutes will push GBP/USD?

Originally Posted by Gregory McLeod

Which way do you think the release of the FOMC minutes will push GBP/USD?

looks like a bearish pennant and they normally indicate the continuation of a move and in this case lower......... I would love that ohhhh soooo much...............................
Lets break lower shall we.........

GL...

Anyone got their eye on 1,5370.??........

Originally Posted by Ikee

Anyone got their eye on 1,5370.??........

initially...

GBP/USD

GBP/USD keeps on trading lower and lower and we therefore prefer going short the GBP/USD. We can find resistance at 1.5950 and 1.5975.

1.5950 should be enough strong to work as a base for short positions looking for declines to 1.5850 and possibly 1.5825. Price could trade above 1.5950 but is expected to be capped by 1.5975. If we want to simplify we can just keep the stop above 1.5975 but 1.5950 should be enough.

A definitive breakout above 1.5975 will mean that the short term trend would be over and we expect buyers to take control and take price to 1.6050 which is today's R2 of the pivot point indicator.

30 min time frame

Originally Posted by stryker

looks like a bearish pennant and they normally indicate the continuation of a move and in this case lower......... I would love that ohhhh soooo much...............................
Lets break lower shall we.........

GL...

Good Morning Stryker. It looks like you got your wish. The FOMC minutes did not mention QE3 in a way that would satisfy markets. So with this disappointment, the fear trade via dollar strength continues.

With the pricing of the Facebook IPO today and the IPO on Friday, do any of you think the markets will get a bounce higher?

Originally Posted by Gregory McLeod

Good Morning Stryker. It looks like you got your wish. The FOMC minutes did not mention QE3 in a way that would satisfy markets. So with this disappointment, the fear trade via dollar strength continues.

With the pricing of the Facebook IPO today and the IPO on Friday, do any of you think the markets will get a bounce higher?

421 million shares x 38.00 = 16 billion US dollars. I have no idea what a normal avg day of inflows would be.

Edit: Goldman Sachs is going to sell its private shares in facebook. They expect to bring in 1 billion.

Originally Posted by Gregory McLeod

Good Morning Stryker. It looks like you got your wish. The FOMC minutes did not mention QE3 in a way that would satisfy markets. So with this disappointment, the fear trade via dollar strength continues.

With the pricing of the Facebook IPO today and the IPO on Friday, do any of you think the markets will get a bounce higher?

Yes - there should be a rallyette - 3-witching plus one needs some hope to offload FB - then G8 comunique -

Cable delta - ITD2 top is due on monday - great short opportunity tomorrow or on monday

edit: watching 1.585, 1.58 and 1.5765 (.5 fib) for a reversal

Patryk

Let's Play: What's Your Trade Trigger?

What do you use to enter a trade on a regular and consistent basis?
For example: I get long when the 30-minute chart 50 period simple moving average crosses above the 200 moving average on the open of the next candle

trigger [ˈtrɪgə]
n
1. (Military / Firearms, Gunnery, Ordnance & Artillery) a small projecting lever that activates the firing mechanism of a firearm
2. (Engineering / Mechanical Engineering) Machinery a device that releases a spring-loaded mechanism or a similar arrangement
3. any event that sets a course of action in motion
vb (tr)
1. (usually foll by off) to give rise (to); set off
2. to fire or set in motion by or as by pulling a trigger
[C17 tricker, from Dutch trekker, from trekken to pull; see trek]

Originally Posted by fazi

Yes - there should be a rallyette - 3-witching plus one needs some hope to offload FB - then G8 comunique -

Cable delta - ITD2 top is due on monday - great short opportunity tomorrow or on monday

edit: watching 1.585, 1.58 and 1.5765 (.5 fib) for a reversal

Patryk

Hey Patryk,

Great call on timing the top! Here is the count that I am following displayed through the Weekly, Daily and 4 hour charts. If this is the SLTD top, then it sure fits with this scenario.

Originally Posted by apipintime

Hey Patryk,

Great call on timing the top! Here is the count that I am following displayed through the Weekly, Daily and 4 hour charts. If this is the SLTD top, then it sure fits with this scenario.

Thank you Jay - I`m affraid SLTD top is in - from trading perspective there is nothing to worry about, but real life implications of this time/EW count are really scary. ITD 2 top (tomorrow/monday) could be the last moment to catch the falling elevator - extended fifth?

edit: hourly delta -no.1 bottom/no.(1) top are in- I`m expecting no.2 bottom soon - then orange 3 top, corr to 4 and up till close - or there was as early no.2 top and we`re going down to no.3 - but that doesn`t fit to ITD2 correction move that good

Patryk

Charts from today's edition of the webinar Bulls vs. Bears @ The Trading Room 10:30 GMT (11:30 UK time or 06:30 EST Mon - Fri)

Recorded version
Bulls vs Bears - The spread Betting Morning Update May 16 - 2012 | DailyFX: Bulls vs Bears on Blip

Originally Posted by Gregory McLeod

Good Morning Stryker. It looks like you got your wish. The FOMC minutes did not mention QE3 in a way that would satisfy markets. So with this disappointment, the fear trade via dollar strength continues.

With the pricing of the Facebook IPO today and the IPO on Friday, do any of you think the markets will get a bounce higher?

I was at the office and I have a different internet serv provider there and today was having difficulty on logging into the forum..
I'm home and lazy but I played GU out to the max.. .5788 was the number I was looking for and 5976 shorts closed out to the last pip..
have gone long off it and waiting 126.52-57 on Geppy to hit longs..
I'm thinking if we can close above 5850 on GU then possibly tomorrow we can have a low of 5815-22 print as a low for a move higher..
I asked chaudhry's Avatar chaudhry to be kind and post my charts over the forum.. The Gu played to the max... We even got the retrace point to the last drop..
[4:21:37 PM] tahirkhan989: heck im short all over
[4:21:39 PM] tahirkhan989: esp GU
[4:21:59 PM] tahirkhan989: 5823 we be bouncing to 5858-61 and then sell back to 5788

With the pricing of the Facebook IPO today and the IPO on Friday, do any of you think the markets will get a bounce higher?

Stocks still taking a beating as long as SPX under 1350 risk is towards 1280 play...

GL...