farizu
Forum Moderator
Senior Member
Posts:3194
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| 12 Mar 2010 11:35 AM |
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On a 10:1 leveraged account I have taken a very long term short on this pair, because in the long run this will again go back down to the 1.3xx levels. And because of the low leverage I can ride this one through some serious reversal if necessary...will report back in a few months to let all know how this progressed... |
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dongini
Veteran Member
Posts:727
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| 13 Mar 2010 06:13 AM |
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fari re u bringing the leverage issue to this topic also, low leverage or high leverage the most important thing is money management and caution with the markets.how do u know it will go down to the 1.3 level. |
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farizu
Forum Moderator
Senior Member
Posts:3194
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| 13 Mar 2010 07:34 AM |
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Posted By dongini on 13 Mar 2010 06:13 AM
fari re u bringing the leverage issue to this topic also, low leverage or high leverage the most important thing is money management and caution with the markets.how do u know it will go down to the 1.3 level.
because the UK economy is in shambles, its public debt to gdp ratio is higher than Greece and now they are raising the high end of taxes to 50%! Pay out 50p on the pound to the govt, most of the high earners will be leaving the country rather than doing that, so it is only a matter of time. Also for such long term trades the leverage is very important because any higher and the dd will blow the account. |
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alice
Senior Member
Posts:1287
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| 15 Mar 2010 12:08 AM |
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GBPUSD lately shown signifant bullish movement. high 1.521x and closed at 1.518x, technically price now ready to tested bearish chanel, nearly bias bullish, but note only constant movement above bearish chanel could confirm bearishness failure and new bullish phase formed. as long as price around the bearish chanel major bearishness still intact. immediate support 1.5140/20 break below this area further bearish expected tested 1.5000 (as Psychological level) and will keep bearish still intact. intial resistance 1.5220/65 consistant movement above this area could treat as bearishness failure and technically targetiing 1.53xx area.
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farizu
Forum Moderator
Senior Member
Posts:3194
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| 15 Mar 2010 09:36 AM |
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hear is a heads up on nice little upcoming trade. If the pink trendline is broken on high volume, then expect the pair to go higher if not, it is going down!!!  |
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alice
Senior Member
Posts:1287
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| 16 Mar 2010 03:20 AM |
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GBPUSD another bullish failure at yesterday trade, pair low at 1.501x and closed at 1.504x. this fact could keep bearish scenario still intact, especially if price break below 1.5000-14970, which technically targetting 1.4870 area or even 1.4779 (previous low). immediate resistance 1.5160 break above this area further bullish momentum expected, and tested upper bearish chanel.
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farizu
Forum Moderator
Senior Member
Posts:3194
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| 17 Mar 2010 08:30 AM |
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Looks like a nice short is forming on this pair, i would go short if it breaks below 1.530 on good volume...set today's high as the sl and tp can be all the way down to 1.50 if aggressive and if not the same number of pips as to the sl so that rr is 1:1  |
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farizu
Forum Moderator
Senior Member
Posts:3194
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| 17 Mar 2010 09:32 AM |
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Look at how this pair is currently surfing the trend line up! Still waiting for a convincing break, but who knows it may head higher before going lower...  |
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farizu
Forum Moderator
Senior Member
Posts:3194
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| 17 Mar 2010 01:51 PM |
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A bit of a disappointing  short this was, because it found a longer term support and just headed back up again...but again at around today's high, lets see if there is enough steam to take it any higher... |
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alice
Senior Member
Posts:1287
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alice
Senior Member
Posts:1287
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| 19 Mar 2010 12:40 AM |
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GBPUSD failed to continue bullish momentum previously, low 1.521x closed 1.524x after failed to stay/constant above 1.535x. this fact, furher bearish expected, but we need stable movement below 1.5200, for further bearishness targetting 1.5000. immediate resistance 1.5299 break above this area further bullish expected,and should keep bullish chanel still intact.
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farizu
Forum Moderator
Senior Member
Posts:3194
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| 20 Mar 2010 11:46 AM |
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This is a daily chart showing this pair is at the 25% fibo level, if this breaks, then this pair is heading significantly lower...  |
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alice
Senior Member
Posts:1287
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| 24 Mar 2010 04:26 AM |
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GBPUSD moving significantly as yesterday seems this pair still hold bearish momentum. and yet today it start to tested major support ttrendline. early bearish technical target still around 1.4799, but bullish momentum still wide open to occur. immediate resitance 1.5070, break above this area further bearish momentum expected. sorry for not posting with chart, somebody steal my notebook lately, and off course i loss most of my previous saved data. |
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alice
Senior Member
Posts:1287
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| 26 Mar 2010 05:10 AM |
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GBPUSD slipped below trednline support lately, what we have here outlook
bearish potential but price atempt and start to close nearly trendline
suport. except market bakc above trendline, nearly bias still bearish
which targetting 1.4500. immediate resistance 1..4900 break above ths
area, further bullish momentum expected target 1.5000 (physcological
area) and if this one ocur what we have here are a fals break down.
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farizu
Forum Moderator
Senior Member
Posts:3194
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| 26 Mar 2010 10:57 AM |
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This pair is lagging behind the eur/usd pair, but heading in the same direction.  |
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