GBP/USD the week ahead.

N

neo1599

Active Member
#1
#1
Hi,

I had a good look at Cable for the coming week and i think since it has already touched 1.86xx it will be coming down hard on TUE and WED. However it is dependant on the news coming out of USA. Some major data is slated for next week.

All the technicals r are saying that it is a perfect opportunity to sell. But still at this point i wouldn't advise entry.
I have an open position so am stuck with it.

Neo :)
 
J

joy_mitali

Member
#2
#2
Hi Neo,
What technicals do u consider---If u post ur pair trading Forex picks with valid justifications(Technicals/news) regarding ur probable entry/exit points---I think ur thread will become intersting.
Regards,
joy_mitali
 
N

neo1599

Active Member
#3
#3
joy_mitali said:
Hi Neo,
What technicals do u consider---If u post ur pair trading Forex picks with valid justifications(Technicals/news) regarding ur probable entry/exit points---I think ur thread will become intersting.
Regards,
joy_mitali
Click to expand...

Hi,

Well,

I have considered fibonacci sequence, Moving averages on one chart and RSI, stochastics and MACD on another combined the two to see where things will go.

Also the US data for next week is expected to be good. That might help the $ recover.

For long term USD/CAD is a definate long at it is at a 25 year low.

Neo :)
 
N

neo1599

Active Member
#4
#4
Hi guys,

As u might see in the charts i think first elliot wave for down can be seen quite clearly currently it is at 1.8584. I think tomorrow it will go to the 1.84xx region.

Made some good pips in the day with the news and currently am short on GU.

Neo :)
 
M

Matrix

New Member
#5
#5
Preferred view is larger wave correction up from Nov 2005 low ended as 78.6% level at 19015 probed. We favor decline to 18260/18175 zone where may see a bounce. Below 18150 however (sell break) focuses on key 17935. Above 18495/ 18530 stabilizes, for 18630 (sell again). [SESSION-FORECAST: HIGH: 1.8583 LOW 1.8367] May see extension to 18530/18575 region as intraday looks positive. Needs below 18365/55 to reassert bear tone and open way for a decline to 18205.

Daily Chart
 
D

dilsefx

Member
#6
#6
Hi all , :cool:
good afternoon to you all.
i am trading forexsince more than 2 years, and i am a cable trader.
I am a pure technical trader and i would like to share my weekly profit/loss here.( tho on weekly basis i am not facing any loss ).
I was 250+(only :p) pips in profit last week by trading cable.
My style is to follow the technicals , no matter if the fundamentals are telling something else, i have experienced that the charts do display every thing a trader is supposed to know. Any trader who is able to read the charts , can make profitable trades.
 
Last edited:
N

neo1599

Active Member
#7
#7
dilsefx said:
Hi all , :cool:
good afternoon to you all.
i am trading forexsince more than 2 years, and i am a cable trader.
I am a pure technical trader and i would like to share my weekly profit/loss here.( tho on weekly basis i am not facing any loss ).
I was 250+(only :p) pips in profit last week by trading cable.
My style is to follow the technicals , no matter if the fundamentals are telling something else, i have experienced that the charts do display every thing a trader is supposed to know. Any trader who is able to read the charts , can make profitable trades.
Click to expand...

Hi mate,

I am also almost exclusively focusing on cable. Why not start a new thread as "Cable trading stats" then we all can give daily/weekly p/l reports and also discuss strategies and where things stand. :)

Neo :)
 
N

neo1599

Active Member
#9
#9
My analysis for next week is complete and what I looking at suggests the following.:

Enter short if a candle closes below 1.8132 on 1h chart.

RSI on daily is favoring further down.

I would only go long after the FED-rate announcement on 28th. The statement with it should tell us which way the market will head.

Neo :)
 
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