Thread: Discuss the GBP/USD with a DailyFX Analyst

Originally Posted by jamilgaruty

SAME AS WHAT AM THINKING WE ARE TWINE OR WHAT
NEXT CHART ALEJANDRO I LIKE IT KEEP IT UP MAN YOU ARE HELPING US ...

By the way Jamil - is it ok if you write with lower case letter instead of UPPER CASE?

Charts that we covered in today's edition of Bulls vs. Bears

Archived session
Bulls vs Bears - The spread Betting Morning Update May 30 - 2012 | DailyFX: Bulls vs Bears on Blip

Originally Posted by Alejandro Zambrano

Thank you Jamil - do you think we will drop under 1.5550? I am not sure

I hope not!! Got smashed this morning on the drop under 1.56, spent the rest of the day thus far piecing my battered account/strategy/ego back together, going to try a small long at 1.5550 & start avg.ing into shorts around 1.5575/85. Looking for ranging action ala last week but minus 100pips...

Just took a long at 1.5550, looking for a rebound to at least 1.5565

Update: bailed onthat for 2 pips profit, nearly took out my stop by a matter of 4 pips at 5530 in a matter of seconds. Not happy, not happy at all...

Who's game to try & catch the knife ??!! Seeing as I managed to get out of my first stab (non pun intended) at a long at 5550 I'll go again if we get under 5520, look for 5550

Originally Posted by Cesil9227

Who's game to try & catch the knife ??!! Seeing as I managed to get out of my first stab (non pun intended) at a long at 5550 I'll go again if we get under 5520, look for 5550

Mate don't go long - look to go short or wait until the end of the London session at least - we tend to get reversals at the end of the day. I have only held 1 position where I was long against the market since the begining of the month - and yes I lost money on it.

Originally Posted by Alejandro Zambrano

Mate don't go long - look to go short or wait until the end of the London session at least - we tend to get reversals at the end of the day. I have only held 1 position where I was long against the market since the begining of the month - and yes I lost money on it.

Perhaps, looking quite oversold though - & I'm eyeing the daily range & it hasn't gone over 100pips for a few days, especially if you strip out the big move down from the middle of the month. Funnily enough I just took a cheeky short at 1.5536 & took 7 pips on it. Might leave it along now & wait for it to go back over 1.5550. Sometimes the best thing to do is do nothing.

http://shar.es/qJJ9z

Originally Posted by Cesil9227

Perhaps, looking quite oversold though - & I'm eyeing the daily range & it hasn't gone over 100pips for a few days, especially if you strip out the big move down from the middle of the month. Funnily enough I just took a cheeky short at 1.5536 & took 7 pips on it. Might leave it along now & wait for it to go back over 1.5550. Sometimes the best thing to do is do nothing.

I hope you can see that trading with the trend is much better I don't know if you kept your position but should be more that 7 pips plus

Originally Posted by KUTERO

KUTERO Kaptan'ın Seyir Defteri - Captain's Log Book: GbpUsd

Hello Kutero, should we go long or short according to you your analysis? It looks like can bounce

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GU like EU is down under its breakout lvl which for the start of the EU session comes in at 5507-10.. hence if this lvl is tested and a failure occurs, be expecting losses to hit around 5330ish...

GL...

GM PIPSTART 007...
MY PLAN FOR THE CABLE IS TO SELL RALLY OR SELL HIGH BASED ON THE PRICE ACTION AS LONG AS WE ARE TRADING BELOW 5600-550 DEPENDS ON MY 30M OR 5M CHART IF I GET THE TRIGGER, UNTIL THEN I'LL UPDATE MY CHARTS .
LATER..

Originally Posted by Alejandro Zambrano

I hope you can see that trading with the trend is much better I don't know if you kept your position but should be more that 7 pips plus

I didnt unfortunately, I bagged it stood aside, didnt go long but kind of still counter-trend by not staying short. Boy am I glad I didnt take that long at 1.5520. What I did do however, was go short on the break of the 55 level, took 25 pips on 55-5475 last night & again this morning, reloaded it again just now but looks to want to correct higher - will have another look at it around 5530 for another short. Thinking today might range abit after the action the previous 36 hours, unless we get some major news