LattePIPs

GBP/USD Reversal Over – Re-enter Short

LattePIPs — Tue, 14 Feb 2012 00:18:34 +0000

Back in December, I posted here that the GBP/USD was beginning a reversal toward 1.6300. I hope you were able to enter at a strategic position before the reversal. My picture showed the GBP/USD moving down to the 1.5400 level before the reversal; however, the GBP/USD made a new low at 1.5236 before beginning the reversal. If you did enter at 1.5400, then you are currently positive around 330 PIPs as of this post.

It appears that the current reversal is over, has stalled out at the 1.5900 level, and that the GBP/USD will resume its downward trend. Look for a Limit sell around 1.5850.

Happy trading!
LattePIPs

GBP/USD beginning short-term reversal

LattePIPs — Wed, 21 Dec 2011 18:07:34 +0000

I believe the GBP/USD is beginning a reversal in which it will go long for about 7 days or so, go short for another seven days or so, then go long for about a month. I have posted a graph below showing my forecast over the next month.

On October 6th, the GBP/USD took out two major levels of support from September 2010 and December 2010. It then went back up to a level of resistance at 1.5990, which I forecasted here. http://lattepips.com/2011/10/11/short-gbpusd-2/ It then began going short again to take out the new low it had made in October. However, it has not been strong enough to move lower; therefore, I believe it is beginning a reversal which will now target the 1.6300 level over the next month or so.

I want to reiterate that the GBP/USD is still in a longer-term (year long) downtrend; however, it has seemed to pause right now to begin moving further up again.

GBP/USD reversing

Positive 1,120 PIPs in two trades in 2 months – GBP/USD moving as forecasted back in October

LattePIPs — Wed, 14 Dec 2011 16:06:29 +0000

Recommended trades and projected GBP/USD movement

Back on October 11th, I wrote that the GBP/USD would be moving down over the next 6 months or so. But before that move happened, I wrote that the GBP/USD would move up to 1.5990.

I hope you were able to take advantage of those two trade forecasts. One trade profited 370 PIPs in two weeks. The other trade is a longer-term trade currently positive 550 PIPs in seven weeks. That is 1,120 PIPs on two trades in nine weeks, averaging 124 PIPs/week without having to constantly make trades or even multiple trades every day.

I will keep you apprised of the current trade, when to exit and get into the next GBP/USD trade.

GBP/USD Moving as expected – Positive 740 PIPs in two trades

LattePIPs — Mon, 21 Nov 2011 15:41:29 +0000

From my trade recommendation seen here, http://lattepips.com/2011/10/11/short-gbpusd-2/, over a month ago, my system projected a buy on the the GBP/USD moving up to around 1.5990, and then shorting the GBP/USD at 1.5990 to move down over the next couple of months. As you can see in the picture below, the GBP/USD did just that. It moved up to 1.5990, oscillated around that value, then began its move down.

GBP/USD 1hr

So far, you should be postive 740 PIPs for making two trades during the past four weeks! I’ll update everyone as the GBP/USD moves down further for any pauses in movement.

Happy trading!

LattePIPs

Longer-term Short GBP/USD / Shorter-term long

LattePIPs — Tue, 11 Oct 2011 22:25:57 +0000

The GBP/USD has begun its decent for at least the next six months or longer. It recently took out two substantial levels of support at 1.5345 (from 12/28/2010) and 1.5295 (9/7/2010). Now that those levels of support have been taken out, my system is indicating that the GBP/USD should retrace back to around 1.5990 over the next month or so. Look for opportunities to go long on the GBP/USD up to the 1.5990 area, and then short the GBP/USD around 1.5990.

Happy trading!

LattePIPs

Short GBP/USD

LattePIPs — Thu, 07 Apr 2011 05:02:40 +0000

There is a current short entry on the GBP/USD. The area I entered in shorting was 1.6228. It went up, took me in, and is currently at 1.6299.

This 1.6300 level is also a very significant level which it hit back in 2009. It is also an area which has met a very long-term downtrend line from 2007.

This can be traded as a longer-term trade. If you’re looking at a stop loss, it would be around 1.6456. (which is around -156 pips from where it is now) If you trade this, ensure that you manage your risk appropriately.

Happy trading!

LattePIPs!

GBP/USD Update

LattePIPs — Tue, 25 Jan 2011 09:33:50 +0000

As stated from my prior posts last week, I was expecting the GBP/USD to begin moving further down. From the signals being made from my strategy, the GBP/USD is beginning a move down over the next couple of days. From the way it appears currently, it looks like it is beginning to move down toward 1.5636. If you haven’t already, exit any short-term long positions. At the current time, contemplate a limit short at 1.5910.

Happy Trading!

LattePIPs

GBP/USD outlook continued

LattePIPs — Tue, 18 Jan 2011 17:00:59 +0000

Even though the GBP/USD moved 400 PIPs last week, my strategy had a short-term buy signal yesterday; therefore, I entered going long on the GBP/USD for a short-term trade (the trade duration could be 24 hrs to a couple of days). I am currently up 110 PIPs from where I entered yesterday.

As I stated from prior posts last year, for the long-term, I am expecting the GBP/USD to go further down. Last July, I was taken by surprise when the GBP/USD reversed. It seems to be doing a simliar move from 2008 when it was also trying to delay the inevitable. If you’ve been keeping track of what the analysts at Dailyfx have been saying, it is very simliar to what is found here at LattePIPs. You’ll notice here, GBP/USD Daily Analysis, Joel Kruger has a longer-term bearish bias, but has recognized there could be a short-term bullish move. Jamie Saettele, who I highly admire from the standpoint of Technical Analysis using the Elliott Wave Theory, has posted here that the GBP/USD has already exceeded where he thought it would move. Jamie expects the GBP/USD to begin moving toward the lows of March 2010.

In the mean time, we’ll take long trades as they present themselves, and begin shorting the GBP/USD where appropriate.

Happy trading!

LattePIPs

GBP/USD outlook

LattePIPs — Sat, 15 Jan 2011 21:06:15 +0000

As you can see here, GBP/USD Direction, the Daily and 4hr charts are in an uptrend. At this time, even the 1hr and 15min charts are in uptrends! However, with the 400 PIP upward movement from last week, I am hesitant to enter going long at this time. There will most likely be a correction coming up before it continues further up. I will be looking for when it begins its correction/retrace and keep everyone apprised.

Happy trading!

LattePIPs

Too long of a hiatus

LattePIPs — Sat, 15 Jan 2011 19:41:23 +0000

Hello everyone! With the recent birth of my fourth child, I took WAY too long off. I sincerely apologize I have been gone for so long. With the birth of my son and an unexpected move by the GBP/USD, I took some time off to see where the GBP/USD is headed. Tune in for incoming posts by LattePips!