Discuss the GBP/USD with a DailyFX Analyst - Page 168 - DailyFX Forex Forum

lovelyforex · #**2506** (**permalink**) 03-10-2008, 03:29 AM

Quote:

Originally Posted by Panda Eyes

fibo lvl: 20220-20250

agreed the ppi num will be high. gut feeling cud be factor in.
however even if gbp come down & test..max 19950 for today.
cos lots of buyers incl myself will come in.

this reversal of non usd will be choppy b4 major down.

lovely, how is yr candlestick signal today?

panda eyes

p.s tks st fx reminder last fri.

hmmm..but arround 17.00 bullish..i dont know bullish from bearish or bullish for top

Panda Eyes · #**2507** (**permalink**) 03-10-2008, 04:03 AM

Quote:

Originally Posted by lovelyforex

hmmm..but arround 17.00 bullish..i dont know bullish from bearish or bullish for top

tks. hmmm...but if bullish ard5pm, then gbp cud break 20220-50 heading
20400. hmmm..somehow i really feel its not the time to test that lvl yet

panda eyes

djindyfx · #**2508** (**permalink**) 03-10-2008, 05:14 AM

Quote:

Originally Posted by djindyfx

I'm in at 2.0127. Next target for entry for Upper 180. There could be some bounce around in this area.

Still long since Friday. 2.0199 has strong resistance for more upside. I'm watching for 2 things which may or may not happen this week. Bounce between the 180 SMA (2.0199 - / 2.0059 L). The CCI indicator has peaked and has started a turn down. If it breaks out of the 180 channel - High target is 2.0500 (Resistance from 12/9/07 - 12/12/07). If it breaks low then low target is 1.9944 (recent Resistance 4 days ago (2/25 - 3/4). I am currently Neutral. Looking for squeezing of prices. Waiting for other Pending US releases later this week.

lovelyforex · #**2509** (**permalink**) 03-10-2008, 05:38 AM

Quote:

Originally Posted by djindyfx

Still long since Friday. 2.0199 has strong resistance for more upside. I'm watching for 2 things which may or may not happen this week. Bounce between the 180 SMA (2.0199 - / 2.0059 L). The CCI indicator has peaked and has started a turn down. If it breaks out of the 180 channel - High target is 2.0500 (Resistance from 12/9/07 - 12/12/07). If it breaks low then low target is 1.9944 (recent Resistance 4 days ago (2/25 - 3/4). I am currently Neutral. Looking for squeezing of prices. Waiting for other Pending US releases later this week.

i know u are the one off great traders..but i think better u close out all Long position after u got a lilttle profit..now for me very psyco level

djindyfx · #**2510** (**permalink**) 03-10-2008, 06:10 AM

Quote:

Originally Posted by lovelyforex

i know u are the one off great traders..but i think better u close out all Long position after u got a lilttle profit..now for me very psyco level

Thank you lovely.. Past hour was Gravestone / Star indicator (Right? Chart attached for your recommendation). It did not close above 2.0199. It hit it 3 times but no close above.. If 2.0150 in next 3 hours does not hold before I go to work; Then I am out on your recommendation.. Stop loss moved to B/E.

FX Newb · #**2511** (**permalink**) 03-10-2008, 06:21 AM

Quote:

Originally Posted by lovelyforex

hmmm..but arround 17.00 bullish..i dont know bullish from bearish or bullish for top

hi lovely...thanks for the great tip for 17.00 bullish..

i dont know what you think ..but maybe one more shot at over 2.0150?

ive took profits from your strategy

thanks again ..and please can i ask what inparticular candle gave it away for you for bullish 17.00?

thanks again!

Panda Eyes · #**2512** (**permalink**) 03-10-2008, 06:59 AM

Quote:

Originally Posted by lovelyforex

i know u are the one off great traders..but i think better u close out all Long position after u got a lilttle profit..now for me very psyco level

hi lovely,

i would like pursue the skills & learn candlestick better.
what site or book can u recommend?

can st fx & djindyfx also assist input on this? tks.

lovelyforex · #**2513** (**permalink**) 03-10-2008, 07:05 AM

Quote:

Originally Posted by Panda Eyes

hi lovely,

i would like pursue the skills & learn candlestick better.
what site or book can u recommend?

can st fx & djindyfx also assist input on this? tks.

sorry panda i dont have any book or links..i only culculate myself in H1.i also used parabolic and ichimoku cloud

djindyfx · #**2514** (**permalink**) 03-10-2008, 07:18 AM

Quote:

Originally Posted by Panda Eyes

hi lovely,

i would like pursue the skills & learn candlestick better.
what site or book can u recommend?

can st fx & djindyfx also assist input on this? tks.

Panda, I purchased "The 10 Essentials of Forex Trading" by Jared F. Martinez. It was just under $40 US. It has a good section of Candle stick, Support / Resistance, Trend Lines, and Fibonacci. I don't trade based off of the Candle formations but I do look specificly for Morning / Evening Stars and their variations. I also watch for "Indecision" Doji and their variations. I also watch for Long Shadows, like 0800 hour on 3/7/08 (Resistance at certain price points). I believe that this is on the chart that I posted below. You can also read the web site below for free. Do a search on the Net for Candle stick trading.

http://www.fxwords.com/j/japanese-candlesticks.html

0700 hours was indecision Doji Candle.

djindyfx · #**2515** (**permalink**) 03-10-2008, 07:42 AM

Quote:

Originally Posted by lovelyforex

i know u are the one off great traders..but i think better u close out all Long position after u got a lilttle profit..now for me very psyco level

Thank you Lovely... Just got out for 30 pips. Looking for new entry point.

FX Newb · #**2516** (**permalink**) 03-10-2008, 08:08 AM

Quote:

Originally Posted by djindyfx

Thank you Lovely... Just got out for 30 pips. Looking for new entry point.

hello there Djindy..i see you havegot out of that long..

do you believe that it will head towards 2.0100?..or another chance at 2.0200?

hope you can help?...any thoughts?

cheers

djindyfx · #**2517** (**permalink**) 03-10-2008, 08:27 AM

Quote:

Originally Posted by FX Newb

hello there Djindy..i see you havegot out of that long..

do you believe that it will head towards 2.0100?..or another chance at 2.0200?

hope you can help?...any thoughts?

cheers

It won't go any higher if it can not break through 2.02200. this is a key spot right now. It may need to take a breather and then get a running start at it (Watch for movement down to your 2.0100 and 2.000) 2.0059 is a Key point of resistance.

We have CPI later this week from US. That news may do it.
The weekly chart is at a Key point as well. Upper band of 55 SMA with upper band of 18 SMA crossing down. Price is currently exactly at the Upper 55 High band on Weekly.

FX Newb · #**2518** (**permalink**) 03-10-2008, 08:39 AM

Quote:

Originally Posted by djindyfx

It won't go any higher if it can not break through 2.02200. this is a key spot right now. It may need to take a breather and then get a running start at it (Watch for movement down to your 2.0100 and 2.000) 2.0059 is a Key point of resistance.

We have CPI later this week from US. That news may do it.
The weekly chart is at a Key point as well. Upper band of 55 SMA with upper band of 18 SMA crossing down. Price is currently exactly at the Upper 55 High band on Weekly.

thanks

i see what you mean,kind of on a knife edge right now,if i get chance today i think ill get out at around 2.0190

doesnt appear to be bullish for too much longer

are you short already?

was hoping to short over 2.0220 but looks like have to settle for less..

thanks for your input..im relativly new to this and greatful for any guidance.

ciao

lovelyforex · #**2519** (**permalink**) 03-10-2008, 08:57 AM

see EURUSD and EURGBP in H1 is there will be down like to 'staircase/extrance' i guess..i still hold my short on eurusd from 1.5400 since friday

djindyfx · #**2520** (**permalink**) 03-10-2008, 10:49 AM

Quote:

Originally Posted by FX Newb

hello there Djindy..i see you havegot out of that long..

do you believe that it will head towards 2.0100?..or another chance at 2.0200?

hope you can help?...any thoughts?

cheers

NewB. Start reading the reports below from FXCM. Lots of good information from these reports. I don't base my trades strictly off of these reports but, I do follow them. Jaime does a really "Great!" job with them.

http://www.dailyfx.com/story/dailyfx...155087099.html