2010 April « LattePIPs

GBP/USD is moving as expected

April 30, 2010 Leave a comment

The GBP/USD has begun its move down:

The first thing it did was take out the level of support (1.5128) which I wrote about on April 19th (10 days ago). The GBP/USD has initially moved down to 1.5125.
Since it took out 1.5128, it has retraced as expected to a level of resistance at 1.5320. (It has currently gone as far as 1.5363)

At this point, the GBP/USD should turn around and begin moving back down again to move further down past 1.5125.

Filed under GBP/USD

GBP/USD moved as expected from forecast 9 days ago

April 29, 2010 Leave a comment

On April 19th (9 days ago), I wrote, “If the GBP/USD does not immediately take out 1.5128, then you could safely place a limit sell anywhere from 1.5375 to 1.5475″. Then on April 21st, I posted, “Now, within the next 24 hours, we should see the GBP/USD begin its descent for the next month, two, or three.” On my forecast I was a little off on 2 things:

I said to place a limit sell anywhere from 1.5375 to 1.5475. The GBP/USD rose after that to a high of 1.5496.
I said the GBP/USD would begin to fall over the next 24 hours. Instead, it began to fall 6 days later on april 27th.

You can read about my prior forecasts here:

Now, it is beginning to fall for the next month to three months. Here is a snapshot of the current GBP/USD movement:

Filed under GBP/USD

4/21/2010 – GBP/USD Update

April 21, 2010 1 Comment

Two days ago, I wrote, “If the GBP/USD does not immediately take out 1.5128, then you could safely place a limit sell anywhere from 1.5375 to 1.5475″. Look where the GBP/USD has been oscillating for the past 12 hours….1.5340 to 1.5430. Now, within the next 24 hours, we should see the GBP/USD begin its descent for the next month, two, or three. I also want to show this beautiful channel which the GBP/USD has been in. You’ll also notice that the GBP/USD has hit the 78.6 fib, which points it to an immediate potential target of 1.5102. For an immediate short-term goal, that’s a nice 280 pips over the next couple of days. Here’s the picture of the beautiful channel the GBP/USD has been in:

Filed under GBP/USD, Trade Recommendations

4/19/2010 – GBP/USD Trade Ideas

April 19, 2010 3 Comments

The GBP/USD retraced back to the 1.5500 level during last week (April 12th through April 15th). This was a significant target level before the GBP/USD began its move back downward. Now that the GBP/USD has reached that level, it is beginning its move down below 1.4779 over the next one to three months. During this larger move downward, there are many short term trades (five to fifteen days) to be made as the GBP/USD zig-zags downward. As of this writing, the GBP/USD is at 1.5239. In regard to trade ideas:

Long-term (one to three month trade) – Consider a sell on the GBP/USD to hold as the GBP/USD moves downward below 1.4779.
Short-term (five to fifteen day trade) – Consider a sell on the GBP/USD.
- If you enter the market now, there’s a potential the GBP/USD could move back up to the 1.5375 level before it continues to move down. (If you entered now, that is a potential of -136 pips it could temporarily move against you.)
- If the GBP/USD continues to move down below 1.5128, then you could safely place a limit sell around 1.5300.
- If the GBP/USD does not immediately take out 1.5128, then you could safely place a limit sell anywhere from 1.5375 to 1.5475

Filed under GBP/USD, Trade Recommendations

Recent live GBP/USD trades

April 19, 2010 1 Comment

Here are some recent trades I have done with the GBP/USD with my live trading account. They resulted in over 450 PIPs in 8 trading days. Usually, I don’t make this many trades, but the GBP/USD was doing some nice oscillations; therefore, I had to take advantage of them, haha. My normal length of trades is like the one placed on March 28th lasting 5 trading days which resulted in 337 PIPs on 1LOT for a week of trading.