Author Topic: GBPUSD  (Read 3048 times)

eddieb

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Re: GBPUSD
« Reply #30 on: November 07, 2019, 08:16:15 AM »
My trade has reversed and hit my stop literally as I was typing this.
Tiny profit, so at least no loss, but could have been better.
I still feel that Sterling will continue drifting lower this month,  with the usual pre-election movement following political gaffes, scandals, and opinion polls.

Namaste

eddieb

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Re: GBPUSD
« Reply #31 on: November 08, 2019, 07:54:26 AM »
My trade has reversed and hit my stop literally as I was typing this.
Tiny profit, so at least no loss, but could have been better.
I still feel that Sterling will continue drifting lower this month,  with the usual pre-election movement following political gaffes, scandals, and opinion polls.

Namaste

This pair is retesting 1.28 again. I feel it will break beneath this level but we might have to wait a few days and have another couple of retests.
I'll be watching this ans waiting.

eddieb

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Re: GBPUSD
« Reply #32 on: November 13, 2019, 10:32:13 PM »
Shorted this pair at 1.285. I plan sitting on this for a few days, maybe a week. I can only see it going in one direction between now and the election.

Caesar

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Re: GBPUSD
« Reply #33 on: November 18, 2019, 07:47:20 AM »
With weekend reports that the Conservatives have extended their lead in the polls by up to 15%, expect Sterling to strengthen across the board today and especially against the dollar which has been sliding for the past week.

There isn't any major market-moving economic data due for releases on Monday, so the key focus will be on Prime Minister Boris Johnsonís speech at Confederation of British Industryís (CBI) annual conference.
« Last Edit: November 18, 2019, 07:49:10 AM by Caesar »

eddieb

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Re: GBPUSD
« Reply #34 on: November 19, 2019, 05:40:35 PM »
Shorted this pair at 1.285. I plan sitting on this for a few days, maybe a week. I can only see it going in one direction between now and the election.
This is certainly not going to plan but at least it has turned today and is moving in the right direction.

eddieb

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Re: GBPUSD
« Reply #35 on: November 21, 2019, 01:02:08 PM »
Shorted this pair at 1.285. I plan sitting on this for a few days, maybe a week. I can only see it going in one direction between now and the election.
This is certainly not going to plan but at least it has turned today and is moving in the right direction.
enough is enough,  stop loss hit and out of this trade. I still don't see any fundamentals reason behind this pair rising.  UK is on a precipice economy-wise, a Conservative majority election result is likely which will lead to the UK leaving the EU with a worse deal than May secured, US economy is in much better shape than the UK.
Scratching my head to make sense of this.

Kaitsu

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Re: GBPUSD
« Reply #36 on: November 21, 2019, 04:17:21 PM »
I still don't see any fundamentals reason behind this pair rising. 
I don't really think there are any fundamentals involved in this pair right now.  The DOLLAR index is pretty flat and just mildly ranging and the GBP seems to just float around wherever the current flavour takes it. But those flavours are pretty diluted during this pre-election period, anyway.

Seems to me that many markets are just wandering aimlessly without direction at the present. The world is currently in a right mess with a whole host of factors, most of which are non-economic in the traditional sense, but do have a secondary impact on financials and economics. British politics are marred with unsuitable and untrustworthy leaders, the Royal Family is embroiled in its own scandals, the USA doesn't seem capable of finding even one suitable presidential candidate out of its entire population who is both capable and a global statesperson and is not just a few breaths short of being an octagenarian, and is even busy trying to get rid of the one they've got!

China and Hong Kong are escalating into even more serious confrontations which is affecting economic and business matters there, The Eurozone has its own concerns in addition to the ongoing Brexit mess.

So I think it is entirely unsurprising that market direction is difficult to anticipate via logical analysis in the traditional way. I guess with the GBPUSD, if there is any strength at all, then it is down to an overall, somewhat undefined, relief that the Brexit nightmare will indeed soon be over, and regardless of how and whatever repercussions might ensue. I think it is still true that no one has any real idea what life is like on the other side of Brexit whether it is with the Boris agreement, a Corbyn agreement or no agreement at all. Or whether there will still even be a UK considering the current Scottish feelings towards everything Brexit.

Thank goodness we can still trade in technicals! I am still in my day-trading, pip-snatching mode and I don't really see any signs of longer trends to sit with in any of these "western markets". Even oil is just up and down going nowhere. The Far East markets are not my domain so no comment about those! 

eddieb

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Re: GBPUSD
« Reply #37 on: November 21, 2019, 05:01:44 PM »
Sods law, not long after hitting my stop this pair dropped to 1.291.
Frustrating,  but thats trading I suppose.

Kaitsu

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Re: GBPUSD
« Reply #38 on: November 21, 2019, 08:28:10 PM »
Sods law, not long after hitting my stop this pair dropped to 1.291.
Frustrating,  but thats trading I suppose.
Sorry to see that! But you are right, that really is part of trading!

It is a good example of how it is not just about getting the direction right. And even with the best planned limit/stops, these types of events will turn up.

But, you will certainly agree that trading is also about overall results and not the single individual trade.

And I am sure, with your experience, you will also agree that trading is about accepting the knocks, seeing if there is anything to learn from them, archiving the experience and moving on to the next set up!  :D 

These are uncertain times, and especially with the GBP pairs! All due credit for taking the trade!  8)

Kaitsu

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Re: GBPUSD
« Reply #39 on: November 22, 2019, 07:27:09 AM »
From the attached chart (4 hour), it would seem that both the GBP and EUR are currently mainly just (inversely) following the USD.
 
Upper box (blue line close): USD Index

Middle box (red line close): EURUSD

Lower box (green line close): GBPUSD

Caesar

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Re: GBPUSD
« Reply #40 on: November 22, 2019, 07:45:00 AM »
From the attached chart (4 hour), it would seem that both the GBP and EUR are currently mainly just (inversely) following the USD.
 
Upper box (blue line close): USD Index

Middle box (red line close): EURUSD

Lower box (green line close): GBPUSD

Nice charts. Picking a trade is not helped by the volatility felt both sides of the pond whenever a politician tweets or gaffes.
At least the end is in sight for Brexit (we hope), but there could easily be another 4 years of Trump across in the US, with all the uncertainty he brings.
My hope regarding Trump, assuming he is re-elected,  is that he considers the legacy he will leave behind and how history will judge him, and behaves in a more presidential,  statesmanlike manner

Kaitsu

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Re: GBPUSD
« Reply #41 on: November 22, 2019, 11:50:31 AM »

eddieb

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Re: GBPUSD
« Reply #42 on: December 09, 2019, 01:52:41 PM »
I have just gone long on this after seeing resistance holding it at 1.315.
I hope to get a stop in place and then sit tight until the election.  I expect a Tory win and a clear majority should lift this pair higher

eddieb

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Re: GBPUSD
« Reply #43 on: December 11, 2019, 07:27:35 AM »
Went to bed thinking what a nice trade this was looking, got up this morning to see it had crashed.
Thank heavens for stop losses, at least I got out with 45 pips profit.

Caesar

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Re: GBPUSD
« Reply #44 on: December 11, 2019, 07:57:52 AM »