Thread: Discuss GBP/USD - H2 2012

GBP/USD Multiple Time Frame Elliott Wave Counts

While longer time frame charts point to lower prices ahead over the coming days. The shorter-term 5 and 15 minute charts look greatly oversold and could rebound. This would give traders, a better place to put on shorts.

Where are all GBP/USD traders hiding?

Originally Posted by root-minus

stopped .

I am not say to buy but with the 15:00 low in place from the 1.55 level I guess we might drift to 1.5550. I am short EUR/NZD

Originally Posted by Alejandro Zambrano

Where are all GBP/USD traders hiding?

actually we are looking for better opportunity ....

though I m long on GU with tight SL

Originally Posted by msufaisal

though I m long on GU with tight SL

Hello msufaisal,

I think we could rebound

Originally Posted by Gregory McLeod

Hello msufaisal,

I think we could rebound

Looks good so far....lets see the progress...
Long from 1.5505 and secured

Still holding on to this positions....lets see if we can add target @ 5800-5830 in extensions....time frame two weeks....

Long GBP/USD @
5672
5666
5585
5525

Long EUR/USD @
2622
2513
2387

Long US30 @
12,696..................tgt @ 12,834

GBP/USD July 24 - 2012


GBP/USD is being caped by 1.5550 and as long as price does not breakout above 1.5550 price will probably drift lower and try to reach 1.5450 and possibly 1.5400.

If price trades above 1.5550 we will most likely try to reach 1.56.


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

GBP/USD 60 min chart


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Originally Posted by Gregory McLeod

Hello msufaisal,

I think we could rebound

check out the weekly Gregory, its real scary looking i think. i gain in my personal life if the pound stay strong and we head higher. take aside what i want the pound to do, the pound can very well head much much lower if we break critical support lower down, strong horizontal supp at 1.5275 here price has hit many times. if we break below on a weekly/monthly things could get realllyyyyyyyyyyyyyyy ugly for the GBP. i just hope we dont head lower.

longer term support seems to be really strong. maybe we will hold and wont head lower?

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Originally Posted by msufaisal

Looks good so far....lets see the progress...
Long from 1.5505 and secured

Nice position - it looks like we will trade to 1.5580 - are you still long Msufaisal?

I am long with a stop at 1.5520 for a move to 1.5575 - reason for entry was the breakout above the double top and the expanding bollinger bands which indicate that the trend has changed. The best entry would have been to enter on the dip to 1.5525.

m30



This is how it looks in the 5 min time frame - bullish trend as long as we trade above 1.5820 - which makes it a good spot to place a stop loss order. The only problem with a position like this is that is very short term thus more random compared if we would be trading the long term charts.

upload picture



maybe just scalp, maybe more

r/s level there