Thread: Discuss the GBP/USD with a DailyFX Analyst

Hey Strormtrooper was you in on that break missed it myself going to see whats going on around 5550/5600

Originally Posted by Luxuriant

EUR/GBP topped?

It looks like it using the 4 hour time frame and it does not cost so much to test if its true - just 30 pips.

Originally Posted by JOHNNY VMAX

Hey Strormtrooper was you in on that break missed it myself going to see whats going on around 5550/5600

No unfortunately I missed it. I had a short from yesterday @ 1.55410 but am left red-faced because I didn't close on the test of 1.54700 this morning. I ended up giving it all back, at break-even. Serves me right!

Breeze
Long EUR/JPY @

100.50....Active Trade....Mental Stop Loss...Open Target
100.14....Active Trade....Mental Stop Loss...Open Target
99.92.....Active Trade.....Mental Stop Loss...Open Target

Long GBP/USD @

5544............Active Trade.....TP @ 5676
5544 X 10.....Active Trade.....TP (half) @ 5619 & the rest TP @ 5676

Long EUR/USD @

2619....Active Trade....Mental Stop Loss...Open Target
2593....Active Trade....Mental Stop Loss...Open Target

Long US30 @
Dow Jones has been very rewarding this morning...I Luv USA...

Originally Posted by STORMTROOPER

I'm short at 1.55410 from yesterday and almost closed it earlier this morning prior to the sharp move down. I'm still short, with stop at break even. Should have closed it on the test of 1.54700 earlier but greed got the better of me. With the sharpness of the breakdown I expected 1.54700 to give way but it bounced back 40pips to the topside.

If 1.54700 holds on another test I'll exit and call it a day today. .trading wise. Too many uncertainties / variables due to event risk(s).

Good luck to all!

I understand I am also short from the ~35 level - pulled down my stop to 75. I looked at price this morning and did not want to close it, now we are back at the 50 level - it does not look good but GBP/USD is always like this - on the verge to stop you out. So guess that this is a good time to go short. What we also know is that EUR/USD is fairly overbought so it will probably not trade that much higher helping GBP/USD short positions.

Originally Posted by Breeze

Breeze
Long EUR/JPY @

100.50....Active Trade....Mental Stop Loss...Open Target
100.14....Active Trade....Mental Stop Loss...Open Target
99.92.....Active Trade.....Mental Stop Loss...Open Target

Long GBP/USD @

5544............Active Trade.....TP @ 5676
5544 X 10.....Active Trade.....TP (half) @ 5619 & the rest TP @ 5676

Long EUR/USD @

2619....Active Trade....Mental Stop Loss...Open Target
2593....Active Trade....Mental Stop Loss...Open Target

Long US30 @
Dow Jones has been very rewarding this morning...I Luv USA...

Hi Breeze,

You are rather incredibly brave / confident trading with 'mental' stops. Surely an extremely risky strategy?

Originally Posted by Alejandro Zambrano

I understand I am also short from the ~35 level - pulled down my stop to 75. I looked at price this morning and did not want to close it, now we are back at the 50 level - it does not look good but GBP/USD is always like this - on the verge to stop you out. So guess that this is a good time to go short. What we also know is that EUR/USD is fairly overbought so it will probably not trade that much higher helping GBP/USD short positions.

I'm tempted to switch off and call it a day today but I'm totally transfixed to the market today to see how the day plays out.

opened sell 1.55500

Originally Posted by STORMTROOPER

Hi Breeze,

You are rather incredibly brave / confident trading with 'mental' stops. Surely an extremely risky strategy?

My Money Management Principle is to only trade 3% of my Account Balance, so I have plenty room to handle a floating loss and even place more trades....I learnt from my past expirience when I used to over trade and get a Margin Call....and I got lots of PATIENCE...most of the time the market will hit my stops and only to see it reverse back to where it was before,...I have a very strict Money Management Strategy

Originally Posted by root-minus

opened sell 1.55500

got a couple


closed sell for now

here we go

Near 100ex ma on 4hr at 1.5566 4hr trend line at 1.5575 and res at 1.56 could be interesting from there may be a short

Attachment 133798



quasi level revisit


manual quick bail if cable closes above high

Hello Traders,

Options Expiration, Greek elections Sunday, G20 on Monday and Tuesday plus an FOMC meeting and G7 emergency meeting are all playing havoc with the currency markets.

Be careful out there and Happy Father's Day!

Regards,

Greg McLeod
DailyFX Forum Moderator/Trader
SSI Details:

EURUSD - The ratio of long to short positions in the EURUSD stands at -1.58 as nearly 61% of traders are short. Yesterday, the ratio was at -1.59 as 61% of open positions were short. In detail, long positions are 0.9% higher than yesterday and 3.5% weaker since last week. Short positions are 0.0% higher than yesterday and 40.4% stronger since last week. Open interest is 0.4% stronger than yesterday and 10.7% above its monthly average. The SSI is a contrarian indicator and signals more EURUSD gains.

GBPUSD - The ratio of long to short positions in the GBPUSD stands at 1.94 as nearly 66% of traders are long. Yesterday, the ratio was at 1.00 as 50% of open positions were long. In detail, long positions are 10.2% higher than yesterday and 6.7% stronger since last week. Short positions are 42.9% lower than yesterday and 18.6% stronger since last week. Open interest is 16.3% weaker than yesterday and 10.3% below its monthly average. The SSI is a contrarian indicator and signals more GBPUSD losses.

GBPJPY - The ratio of long to short positions in the GBPJPY stands at 2.78 as nearly 74% of traders are long. Yesterday, the ratio was at 2.14 as 68% of open positions were long. In detail, long positions are 6.9% higher than yesterday and 14.1% stronger since last week. Short positions are 17.9% lower than yesterday and 12.1% stronger since last week. Open interest is 1.0% weaker than yesterday and 7.0% above its monthly average. The SSI is a contrarian indicator and signals more GBPJPY losses.

USDJPY - The ratio of long to short positions in the USDJPY stands at 5.71 as nearly 85% of traders are long. Yesterday, the ratio was at 5.49 as 85% of open positions were long. In detail, long positions are 5.0% higher than yesterday and 7.3% stronger since last week. Short positions are 0.9% higher than yesterday and 0.0% weaker since last week. Open interest is 4.3% stronger than yesterday and 7.1% below its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses.

USDCHF - The ratio of long to short positions in the USDCHF stands at -1.09 as nearly 52% of traders are short. Yesterday, the ratio was at -1.10 as 52% of open positions were short. In detail, long positions are 4.7% higher than yesterday and 18.6% stronger since last week. Short positions are 3.2% higher than yesterday and 8.7% weaker since last week. Open interest is 3.9% stronger than yesterday and 3.5% below its monthly average. The SSI is a contrarian indicator and signals more USDCHF gains.

USDCAD - The ratio of long to short positions in the USDCAD stands at -1.03 as nearly 51% of traders are short. Yesterday, the ratio was at -1.06 as 51% of open positions were short. In detail, long positions are 2.3% higher than yesterday and 51.0% stronger since last week. Short positions are 1.0% lower than yesterday and 3.3% weaker since last week. Open interest is 0.6% stronger than yesterday and 2.1% below its monthly average. The SSI is a contrarian indicator and signals more USDCAD gains.

AUDUSD - The ratio of long to short positions in the AUDUSD stands at 1.35 as nearly 57% of traders are long. Yesterday, the ratio was at 1.32 as 57% of open positions were long. In detail, long positions are 1.1% higher than yesterday and 3.7% weaker since last week. Short positions are 1.3% lower than yesterday and 61.6% stronger since last week. Open interest is 0.0% stronger than yesterday and 7.4% below its monthly average. The SSI is a contrarian indicator and signals more AUDUSD losses.

NZDUSD - The ratio of long to short positions in the NZDUSD stands at 1.20 as nearly 55% of traders are long. Yesterday, the ratio was at 1.27 as 56% of open positions were long. In detail, long positions are 1.3% lower than yesterday and 20.0% weaker since last week. Short positions are 3.9% higher than yesterday and 99.0% stronger since last week. Open interest is 1.0% stronger than yesterday and 3.9% below its monthly average. The SSI is a contrarian indicator and signals more NZDUSD losses.

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