Thread: Discuss GBP/USD - H2 2012

Originally Posted by jvhu08

Old timer but new to the forum

Originally Posted by jvhu08

well, registered back in 2008, thus jvhu08...

Originally Posted by micky2121

Hello every one Im Micky from Derby UK and I am new to Forex trading i`m very interested and excited about this site.
I am looking for a good training plan to start leaning

I would like to talk to some one from Derby UK about forex trading

Hello Micky! It is great to have you aboard! There are great opportunities in the Forex market and you are right in looking for a plan that can help you better take advantage of these moves. It has been said that if "you trade without a plan, you plan to fail..."

Here are some quick guidelines that you can follow to get started with your trading plan here: 3 Step Trading Plan | DailyFX


Here is a place where you can start your own Trading Journal so you can chronicle your journey to becoming a personal trader. You can also read other traders plans in order to get an idea of what they are doing. You can also ask questions as well. The traders here are, for the most part, very helpful and do not mind sharing their experiences.

You may also learn some basics from the DailyFX course videos as well:DailyFX Education Videos - Forex Trading Strategies

Happy Friday Traders! Help Me Welcome Micky from Derby UK and jvhu08
Micky in UK would like to hook up with others near him so if you are so inclined, please Private Message (PM) him!

Originally Posted by Bart3s

Mmhh, I'm still bullish 1.587.
I don't like to see the pair move under 1.585

Still believe we are bullish as long as we trade above 1.576
What do you think

Here's what I'm currently looking at for a bullish case scenario and especially if we can break above 1.5870 again. Upside towards 1.5930s -70s

Originally Posted by raghu1

Guide/Key to interpret The charts http://forexforums.dailyfx.com/attac...alyzer-pre.pdf

Thanks for sharing this with us raghu!

Originally Posted by meonia

Here's what I'm currently looking at for a bullish case scenario and especially if we can break above 1.5870 again. Upside towards 1.5930s -70s

Hello meonia! That is one of the reasons I took profits on my GBP/USD shorts. She was not rolling over as fast as I had first expected. Looks like a Bull Flag on your charts. I'd like to wait for break above the previous highs to confirm.

Originally Posted by Gregory McLeod

Hello meonia! That is one of the reasons I took profits on my GBP/USD shorts. She was not rolling over as fast as I had first expected. Looks like a Bull Flag on your charts. I'd like to wait for break above the previous highs to confirm.

LOL! Love the cartoon Greg! :-)

I thought I'd take a punt from the 61.8% retracement point that I've labeled on the chart, at 1.5823ish. We'll see what happens though. Anything can happen on a Friday!

Originally Posted by simonward

Morning Everyone,

Hope you are all well?

Started little late this morning (Bordeaux Red is moorish) Gone in at 1.2539 to come out at 1.2590...dont think 1.26 will break today then followed by downturn i think as profits come out later this afternoon.

Struggling to find decent entry on GBPUSD so may give it a miss till later...

Gone in EURJPY 98.52 to leave 99.10....

My conundrum this morning is the AUDUSD and USDJPY....any thoughts or opinions would be lovely?

GL

RBA Governor Stevens through a nice wet blanket on Aussie rally saying that, ""If the Aussie was to rise markedly from here, we believe that this would increase the chance of a rate cut." Ikee was right, I got out again by skin of my chinny chin chin as that breakout on Aussie did not hold.

Originally Posted by Gregory McLeod

RBA Governor Stevens through a nice wet blanket on Aussie rally saying that, ""If the Aussie was to rise markedly from here, we believe that this would increase the chance of a rate cut." Ikee was right, I got out again by skin of my chinny chin chin as that breakout on Aussie did not hold.

Thanks Greg...i have gone in at 1.0400 and looking to sell at 1.0345...... Think i have posed this question to what feels like a milllion people but any thoughts at all on EUR JPY would be lovely....

Originally Posted by simonward

Morning Greg.

I hope your well?

Could i get your opinion on EUr JPY? I see it going to move up a bit...

Good Morning Simon! EUR/JPY just broke the rising 4-hour trend line and looking to retest 98.00 area. It could correct back to the 97.83 area

Great show AZ as usual....it's always helpful

Could US Durable Goods Give Cable a Lift After Lower UK GDP Number?- GBP/USD finding support at daily S1 Pivot. Cable may use US Durable goods number to make her move higher. Break above regression channel could be the signal for bulls to take their positions.

edit I did extend the stops by 20 pips... but it seemed worth the risk at the time, only playing with gainsMy initial trade , plus an extra ( these are smaller amounts than my long term trades ) is now sitting ok with stops at breakeven , protecting myself in news spikes due later and any profit taking.. either way of course. It does seem to have gone back inside the 8hr rising channel , which of course is still pointing skywards

Originally Posted by markie6

shorted at 1.5871 stops at 1.5910 ...seems over blown ... gdp figures friday...long weekend....

Bulls vs. Bears: The Spread Betting Morning Update August 24 - 2012
Presentation
http://www.livestream.com/dailyfx/video?clipId=pla_1af4a266-dad7-4448-b11c-6bb8f2f3ed64&utm_source=lslibrary&utm_medium=ui-thumb

Q&A Session
http://www.livestream.com/dailyfx/video?clipId=pla_24f2dfd5-e20d-4400-b6bf-dc4f5f3b2f64&utm_source=lslibrary&utm_medium=ui-thumb

Originally Posted by Gregory McLeod

Thanks for sharing this with us raghu!

Gregory, tell me whether Trend follow the indicators or Indicators follow the trend ??

Originally Posted by earndollars

Gregory, tell me whether Trend follow the indicators or Indicators follow the trend ??

Indicators are usually derivatives of price. Price is put through a series of formulas out pops out a chart on the other side. Most indicators are lagging indicators for this reason. However, there are some leading indicators such as oscillator divergence like that found on MACD, Stochastics and RSI. So in sum, price trends follow indicators but indicators can forecast possible changes in trend direction.

Originally Posted by Gregory McLeod

Could US Durable Goods Give Cable a Lift After Lower UK GDP Number?- GBP/USD finding support at daily S1 Pivot. Cable may use US Durable goods number to make her move higher. Break above regression channel could be the signal for bulls to take their positions.

US Durable Goods Orders Up 4.2% (July) vs. 1.6% for June
ex transportation -0.4% vs. 0.5%
non defense spending down -3.4% vs. -2.7%

Rise in auto sales and defense spending making up bulk of number. On surface number looks positive, but taken in its entirety the number is neutral to negative. US business spending is down as well.

Cable blowing through support zone