Thread: Discuss the GBP/USD with a DailyFX Analyst

Originally Posted by 4xis2ez

I left some money on the table, my exit was at 6780.

went short again @ 6750 with tight SL..

Originally Posted by 4xis2ez

You mean someone in UK spoke up to cause the gbpusd drop.

BoE"s King noted in an evening speech that it appears the UK is heading into a
recession, and it will take a "long, slow, haul" to stabilize. He suggested that
despite the "worryingly high" current inflation levels that the MPC needs to
focus on the medium term once the credit crunch and commodity price slide have
filtered through. This indicates further rate cuts in the pipeline. He suggested
larger and faster adjustments in the trade A/C deficit & FX rates is necessary.
PCW

EDIT:

basically just dont buy the pound lol..sell in to most rallies ..or use tight SL..this could drop to the never nevers by the end of next week

Start watching 1 minute charts and sell the rallies.

Oh, buy the way, you guys using my cycle analysis must pay me 10% of your profits if you want me to post more. Ha Ha Ha.

Where is cmellon and 2be and the moderators? You guys give up?

Originally Posted by 4xis2ez

Oh, buy the way, you guys using my cycle analysis must pay me 10% of your profits if you want me to post more. Ha Ha Ha.

hows 30£ ?

Another +46 pips in 6 minutes. There is probably going to be a violent retracement on one these lows coming up.

Originally Posted by 4xis2ez

Another +46 pips in 6 minutes. There is probably going to be a violent retracement on one these lows coming up.

a long term fib level at .618 is fast aproaching at 1.6520 level...that could then provide with a big push north from 11 low to 12 high...after mervins comments about making decsions on FX prices well god only knows..the pound has finally realised what its worth...naff all!!

market is up 80 pips off its lows in the past 20 minutes or so. Be careful now as the market stablizes. The down move may be over.

The market may be forming a bottom now for the next up move to the 16 week 4 high due Wed evening New York time.

I gained 35.5% on my account today.

Originally Posted by 4xis2ez

The market may be forming a bottom now for the next up move to the 16 week 4 high due Wed evening New York time.

its a tricky one for sure..im off line now and will be checking in about 6am UK time see where it is then..see how asia deals with it and then the london open..my guess is that the low will be formed around euro/london open..when to go long though thats the question?..stop loss hunting at its best..over 500 pips drop!!..

Originally Posted by 4xis2ez

I gained 35.5% on my account today.

good work..only 22.5% over here lol....i missed so many of the big drops..never mind stil la good days work..
catch ya tommorow.

Originally Posted by FX Newb

good work..only 22.5% over here lol....i missed so many of the big drops..never mind stil la good days work..
catch ya tommorow.

I missed most of the big drops too. I was working on the Wed 28 day solution when the big down move started.