Gbp/usd

Stopped out @.7875

Price has held above .7850 even though there is a bearish divergence on the 1 and 4 hr chart. Too much choppiness right now to cleary take a new direction.

 

Short @ .7843. That last jump up to .7910 was not confirmed by the RSI on the hourlies. Now back below .7850 and momentum continues to head down.

 

I'd try and short closer to 1.79 for risk/reward purposes.

 

Your probably right. The ADX has not really moved on either of these big moves up or down. So more sideways for a bit I'd guess.

Short @ .7843 - close @ .7846

There is a nice bear flag forming on the hour which I think confrims your view on the USD on the EUR thread.

 

Short at 1.787

 

Ouch - minus 100pips in about 15mins. Hit 1.80 today too.

 

Short GBP/USD at 1.8027.

 

On what basis have you shorted?

 

Exceptional risk/reward here, screaming out at me.

 

He's right, apart from the getting in front of a speeding train analogy.