Trade /
45m
Giules
Bought 5,000 GBPUSD FX Spot @ 1.30960
Day trade
Trade view /
28 September 2016 at 6:02 GMT
GBPUSD: Bullish rally incomplete
Instrument:
GBPUSD
Price target:
Market price:
Background
Cable was bought at marginally higher levels for a second day in a row yesterday. This time buying was a touch more pronounced, in later price action, and the market moved towards Friday’s Marabuzo line. That point held and while it does the recovery has to be counted as a weak one. Nonetheless our signals for sentiment are left mildly and temporarily positive.
Management and risk description
Cable was bought at marginally higher levels for a second day in a row yesterday. This time buying was a touch more pronounced, in later price action, and the market moved towards Friday’s Marabuzo line. That point held and while it does the recovery has to be counted as a weak one. Nonetheless our signals for sentiment are left mildly and temporarily positive.
Management and risk description
A move to 1.3032 means the stop can be raised to break even or better.
Parameters
Entry: Buy in 1.3008/13 area and any 1.2974 dip.
Stop: 1.2936 offered.
Target: 1.3032, 1.3066 and 1.3090.
Time horizon: Intraday, ending London 4pm.
Testing Marabuzo Line
Parameters
Entry: Buy in 1.3008/13 area and any 1.2974 dip.
Stop: 1.2936 offered.
Target: 1.3032, 1.3066 and 1.3090.
Time horizon: Intraday, ending London 4pm.
Testing Marabuzo Line
Bounce from lows
28 September
Sadly there is a lack of momentum in this currency pair (and a few others) today. Obviously more difficult to get a handle on sentiment with a great deal of confidence. Just missed original profit target and due to lack of momentum I am now inclined to reduce exposure at current prices with a stop at today's low and the buy dip strategy cancelled.
28 September
thx alan. good momentum recognition today. got out for a decent profit.
now short, hopefully for short-term:)
now short, hopefully for short-term:)
28 September
There has been strong accumulation in the december futures contract while the price was declining in the last 5-7 days. So, I'm also long on a very short-term basis.