I am glad to hear that some of you guys are looking to sell the GBP/USD. I sold some more at the last top avg around 9639. Maybe people will scare away from dollar sells because the US GDP is up on Wed. But the WSJ says it doesnt look good for US GDP last quarter. *cross fingers*
usdoutlaw - it was yeah. set up with the vegas 1hr ema combination, a buy signal was generated. I think it reached the 2nd fib level away from the market price.
THOAMS that is an interesting technique but it looks like more of a comfirmation signal that you are in the right trade I am trying to use it right now on my GBP/USD short avg price 9642 lets see if this cable breaks down a little
60 pip range just set itself up this morning headed south, and its currently retracing nicely from the test to the 50% line. Watching for a continuation of market price down towards EMA tunnel.
Cable heading to 1.9420 area in about 1.5 weeks IMO this is my estimation for tops and bottom Mon 1.9729 1.9438 Tues 1.9704 1.9409 Wedn 1.9695 1.9407 Thus 1.9681 1.9389 Fri 1.9675 1.9390
if ok with some losses might wanna use these Monday 1.9647 1.9528 Tues 1.9622 1.9500 Wednesday 1.9613 1.9497 Thus 1.9599 1.9479 Fri 1.9593 1.9481 Wekk after this Monday 1.9584 1.9477 Tues 1.9597 1.9461 Wednesday 1.9568 1.9568 Thus 1.9548 1.9548
these tend to work out for me, and I got entered long at 1.9646. Seconds before the spike disappeared awaiting breach of 1.97 today / tomorrow.
THOAMS ... If you look at the hourly cable chart you will see that there is a upward support trend line Plus the 10 day EMA is now below the 20 day EMA and looking to cross upward. There is also consolidation near the support of the above mention trend line Looks Bullish but probably consolidating for the upcoming US numbers Still buy interest could be waning after (notice two bullish price movements since the 21st of FEB) however my hunch still says cable is too pricey for its macros