Thread: Discuss the GBP/USD with a DailyFX Analyst

Lots of two way action today. I'm looking to short GBP but going to wait until after Fix and see where we are at.

Longs from late yesterday took a hefty draw down but recovered nicely for 50 gain.


Currently short now from 5678

Previously held US30 Positions

Some Positions were closed @ 12,800....Patience & Money Management Plays an Important role in this Business

sold 1.56997


not giving this much allowance

Originally Posted by scalping fool

Longs from late yesterday took a hefty draw down but recovered nicely for 50 gain.


Currently short now from 5678

I think a lot of people were caught out by the move in Asia. I had two small positions; one @ 1.55100 and another @ 1.54900 and both triggered limit @ 1.55500 for +40 and +60pip gain.

We've had a 200pip range today and that is not the norm these days so I think a push up before a pullback.

Now Only two Positions Open

Originally Posted by root-minus

sold 1.56997


not giving this much allowance

Attachment 136285


nearest demand visited


booked some

Short @ 1.56900
Stop Loss @ 1.57200
Target @ 1.56300

Originally Posted by root-minus

Attachment 136285


nearest demand visited

booked some

You sold at a good level near the top of the range. I may give up a few pips and look for a close below your, very well illustrated, demand zone.

Originally Posted by Gregory McLeod

You sold at a good level near the top of the range. I may give up a few pips and look for a close below your, very well illustrated, demand zone.

Good day Gregory


this level should give way about now, its been CONSUMED

GBP/USD Elliott Wave Count for 60-Minute and 4-Hour Chart

Originally Posted by root-minus

Good day Gregory


this level should give way about now, its been CONSUMED

scaled in 87

Originally Posted by root-minus

scaled in 87

scalped the scale in

Originally Posted by root-minus

scalped the scale in

scaled in again 1.56913, not giving it much

Hello Traders!

Chinese PMI Saturday June 30th, Full Moon on Tuesday, July 3rd, July 4th Holiday with many taking extended holiday Monday and Tuesday, Non-Farm Payroll on Friday all could create huge moves next week.

I have observed major reversals in the direction of currency pairs during a full moon within a day or two. So be open and flexible about the Euro. In addition, lower holiday volume can make for very quick moves, so dialing down the leverage is one way to trade these moves.

Be careful and I will see you on Thursday!