Gbp/usd

[mntrdr4x]

As requested by Joe in tonights alerts I am posting what I know at this point about the GBP/USD around this 1.5000 level. Last night I traded this pair long at 1.4987 since the low after the London close was 1.4976 and the direction was up along with the 1.4967 area of significance. I was able to get to TP2 with a gravy train. After breaking above 1.5000 and then the top of 1.5038 eventually getting to 1.5068 high I saw this pair stall along with the EUR/USD and USD/JPY - all around bias numbers. As can occur at that time of the Asian session these pairs changed directions at the bias numbers of 1.3268 in the EUR/USD, 99.48 in the USD/JPY, and 1.5045 in the GBP/USD. So once the GBP/USD retraced back to the 1.5045 bias I sold the pair with the bias and channel top ahead of my stop. Before shutting down for the night I had gravy trains going in two directions in the GBP/USD not caring which direction it ultimately went. The long direction has been stopped out and the short is still going. I am uncertain of direction at this time but will continue to pay attention to the 1.5000 level. This is what I know and what I can prove.

Troy

[sarath]

After receiving today's reports, I sold GBP/USD at 1.4925 seeing that it had difficulty getting past the resistance Nos ahead. I have got my TP1 and TP2 and have set the TP3 at 1.4775.

I have also moved the stops suitably, so nothing to lose

sarath

EUR/USD

[sarath]

Got my TP3 as well.

I feel it has strong support between 1.4750 and 1.4775 levels and hence I had a TP3 instead of a gravy train and also of the weekend . .

sarath

(EUR/USD)

[ForexJoe]

Stay the Course

More plentiful pips are coming from this pair... Everyone stalking this pair need to share during this superb time

[sarath]

Here is my strategy based on April 17 Compacting and Compressing Channels. The breakout channels are as outlined in the Sunday report and hence just outlining my strategy for Sunday and Monday . .

Plan A:

GBP/USD

Buy - 1.4830 (above Pivot level)
SL - 1.4795
TP1 - 1.4865
TP2 - 1.4900

Plan B:

Sell - 1.4750 (just below ST21 Lo and SM Lo)
SL 1.4785
TP1 - 1.4730 (just 20 pips!, and 1 pip above Bias No)
TP2 - 1.4690
TP3 - 1.4625 (would watch the overall condition of the Pair at this point. If necessary, I would use 1.4575 (bias) as my TP3

Update

***Plan B executed***Nice Pips overnight :-)
Plan C:

If price holds 1.4575 - 1.4625 and moves up, would buy for another ride up!

Update

***Will it hold the Bias number here? Watching to execute Plan C***
sarath -E,P

[HenryChidgey EAU/USD]

Here is my strategy based on April 17 Compacting and Compressing Channels. The breakout channels are as outlined in the Sunday report and hence just outlining my strategy for Sunday and Monday . .

Plan A:

GBP/USD

Buy - 1.4830 (above Pivot level)
SL - 1.4795
TP1 - 1.4865
TP2 - 1.4900

Plan B:

Sell - 1.4750 (just below ST21 Lo and SM Lo)
SL 1.4785
TP1 - 1.4730 (just 20 pips!, and 1 pip above Bias No)
TP2 - 1.4690
TP3 - 1.4625 (would watch the overall condition of the Pair at this point. If necessary, I would use 1.4575 (bias) as my TP3

Update

***Plan B executed***Nice Pips overnight :-)
Plan C:

If price holds 1.4575 - 1.4625 and moves up, would buy for another ride up!

Update

***Will it hold the Bias number here? Watching to execute Plan C***
sarath -E,P

Howdy Sarath,

Your plan was a huge help to me in understanding more & more about trading these pairs. Thanks very much.

Henry EUR/USD

[sarath]

Henry

thanks, Hope it helped . .

[walt_s]

Troy:

I really appreciate your reports detailing your successful trades. I'm a struggling beginner and truly learn a lot from your analysis.

Walt Sherman

[ForexJoe]

Others stalking the GBP/USD come join the fun... The pair moved back down the current session for Tuesday to Wednesday

Chime in and work on asking questions to learn along with sharing trade plans

Use the Force.... GBP/USD will generate positive pips to those sharing in this thread...

Blessings,

Forex Joe

[sarath]

Troy:

I really appreciate your reports detailing your successful trades. I'm a struggling beginner and truly learn a lot from your analysis.

Walt Sherman

Troy

Hold the course . .there are only two ways (apart from sideways move) a pair can move. With the Bias Nos from Joe, cover your trades either way and it pays dividend

As you are a beginner focus on the Bias Nos and the various Support Resistance Nos to guide you. Good Luck


sarath

E,P,C

[CollonFox]

As I was heading for the door at 8:10 this morning, thought I would take a last peak at GU and saw it was heading for the bottom of the channel and looked like it could break the 1.4607 which was the point Joe had pointed as sell the break of, so I set the three sell stop orders at 1.4607 and the 50 pip stop above and the 25 tp1 and 50 pip tp2 and off to work. Well such delight as the 4xreports emailed during the next hour I could see the levels falling and both tp1 25 pips and tp2 for 50 pips closed for 75 pips. I came home tonight around 9:30 pm to find a GRAVY TRAIN running at 99 pips and my old gravy at 254 from Sunday night's Sunil class. Never thought it would happen but after getting slammed with losses last night and my demo acct dropping from 32k to 15k it was amazing to have this bounce back by keeping on doing trades. I am finally starting to assimilate and feel like I am learning to ride the forex bicycle wobbly and weaving but by keeping on setting trades and getting some good some bad the learning is starting to sink in. I have been trying for two and a half years to get something going (1 month with Joe), knowing the potential and seeing the losses and no wins, now I am seeing some actual wins, wins that I actually understand, its not a mystery its a pattern. Wow. Its starting to happen, it is possible.
Collon UY and GU

[CollonFox]

One of the clues I had for the drop in the GU this morning was the line running back through early april lows, see the 1 hr chart to apr 9 to 13 and it supported the break of 1.4607 could have merit.
The 4 hr chart apr 9 is a high then apr 15 is higher high but the macd standard settings shows the apr 15 is much lower, which is a reversal sign and since that point its been all down hill. I am interested in watching these macd reversals and some people say thats all they use for trading. They are a confirming signal for me.
The other clue was using the fib fan drawn from the apr 15 high to apr 20 low and the past few days of reversal were riding the 50.0 line down so more clues. I don't think the trend is over yet. If you take a little block from today to where the 50.0 fan line crosses the current price line there is a window for potential retracement but as time moves forward the block is reducing so I would think maybe the retrace will diminish but I'd bet that there are news announcements like the home prices tomorrow morning and if they are somewhat positive it would add strength to the GU dropping and might tie to this 50.0 fan line. I'll be watching it for support.
Collon gu uy