Thread: Discuss the GBP/USD with a DailyFX Analyst

Long GBP/USD @

5697 X 5....Active Trade....Open Target
5701 X 5....Active Trade....Open Target

Long US30 @

12,806
12,823
12,777

GBP/USD June 21 - 2012


GBP/USD is trading in a bullish short term trend as we bounced of 1.5650 and this way created a new higher low.

I expect us to reach 1.5780 as long as we trade above 1.5650 which is this mornings low. A breakout above 1.5780/1.58 will take price to 1.5850 while a breakout under 1.5650 will most likley take price to 1.56 and 1.5550.


If you can any questions about this scenario or anything else trading related feel free to write to me here on the forum.

Feel free to join me today at 10:30 GMT (11:30 UK time) for a free FX, stock and commodity market webinar at www.dailyfx.com/bvb
Send an e-mail to azambrano@fxcm.com to sign up to my distribution list.

GBP/USD 60 min chart


Click here to view a recording which introduces you to my trading system


Market Strategist | DailyFX London
azambrano@fxcm.com

Follow me on twitter: https://twitter.com/AlejandroDFX


*Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join today.

Originally Posted by Breeze

Long GBP/USD @

5697 X 5....Active Trade....Open Target
5701 X 5....Active Trade....Open Target

Long US30 @

12,806
12,823
12,777

Looks good where do you have the stop for the 1.57 X 10 position?

GBP/USD Thread is open

Charts from today's Bulls vs. Bears webinar


Main presentation
http://blip.tv/dailyfxbullsvsbears/bulls-vs-bears-the-spread-betting-morning-update-june-21-2012-6215300

QA Session
http://www.livestream.com/dailyfx/video?clipId=pla_5c8af1a9-bee7-492c-8113-e7e8ee9b7037&utm_source=lslibrary&utm_medium=ui-thumb



GBPUSD

watching price for buy at 1.56700 - 1.56664

It is time for theLIGHTNING ROUND

What are you trading?
No need for a chart?

Long, short, or flat

let's have everyone that can see this message post something! No matter how short! (Minimum 10 characters)

Let's get this party started!

Originally Posted by Alejandro Zambrano

Charts from today's Bulls vs. Bears webinar


Main presentation
http://blip.tv/dailyfxbullsvsbears/bulls-vs-bears-the-spread-betting-morning-update-june-21-2012-6215300

QA Session
http://www.livestream.com/dailyfx/video?clipId=pla_5c8af1a9-bee7-492c-8113-e7e8ee9b7037&utm_source=lslibrary&utm_medium=ui-thumb



GBPUSD

We're still going down at the moment, but if it turns, how do you decide that it's the reversal you're looking for?

Originally Posted by bfleming

We're still going down at the moment, but if it turns, how do you decide that it's the reversal you're looking for?

1. You can use the 5 min time frame and wait for a reversal
2. Or stick to the 30 min and wait for a bullish candle stick
3. Or buy using a risk reward setup - if we enter now at 87 we risk to loose 40 pips if the trend fails (pushing under the low) and if right we make 50 pips (back to the old top) and if we extend above today's high you get about 90 pips gain.

Originally Posted by root-minus

watching price for buy at 1.56700 - 1.56664

bought it, adding lower if it dips towards 1.56664

DailyFX Plus SSI Update for 6/21/2012 : Short-Term EURUSD Bias Remains Bullish

Originally Posted by Alejandro Zambrano

1. You can use the 5 min time frame and wait for a reversal
2. Or stick to the 30 min and wait for a bullish candle stick
3. Or buy using a risk reward setup - if we enter now at 87 we risk to loose 40 pips if the trend fails (pushing under the low) and if right we make 50 pips (back to the old top) and if we extend above today's high you get about 90 pips gain.

Think I'll wait for the turnaround

Originally Posted by Alejandro Zambrano

1. You can use the 5 min time frame and wait for a reversal
2. Or stick to the 30 min and wait for a bullish candle stick
3. Or buy using a risk reward setup - if we enter now at 87 we risk to loose 40 pips if the trend fails (pushing under the low) and if right we make 50 pips (back to the old top) and if we extend above today's high you get about 90 pips gain.

Broke below 1.5650, but if the current candle closes above this, would you still consider the buy trade valid?

Originally Posted by root-minus

bought it, adding lower if it dips towards 1.56664

Attachment 134801


earlier buys out


watching for spike into 1.56320 for another touch buy

Long GBP/USD @

5697 X 5....Active Trade....Open Target...Closed @ 5646...Loss Taken
5701 X 5....Active Trade....Open Target...Closed @ 5646...Loss Taken

Long US3[/COLOR]0 @

12,806...Closed @ 12,840...Profits Booked
12,823...Closed @ 12,840...Profitis Booked
12,777...Closed @ 12,840...Profits Booked

and a Summary of todays UK Session

All ES35 Trades Closed @ 6800...Profits Booked
All ESN2 Trades Closed @ 6715...Profits Booked