GBPUSD Setup - 27 May 2011

After watching price failed to below 1.6400 which is a strong support. I placed a pending buy order at 1.6440. SL will be looking at 1.6390. TP set at 1.6580

EP: 1.64400
SL: 1.63900
TP: 1.65800



Trade update: Closed at 30pips profit.

USD INDEX - 26 May 2011

Currently, price is hitting it support turned resistance. We might see USD Index to drop more in future if it cannot break out of the down trendline. Price is much lower from 200MA.

GBPUSD Setup - 26 May 2011

Price bounce off at previous resistance and resulted an IB formed. I placed a pending sell order at 1.6310 and looking to lock some profit at 1.6260 and final TP at 1.6230. As this is against the trend thus i will monitor it closely when price is near my 1st TP. SL looking at 1.6340

EP: 1.6310
SL: 1.6340
TP: 1.6260 & 1.6230



Trade Update: closed at BE.

GBPUSD Setup - 25 May 2011

A pin bar formed after price is being tested on previous support on the hourly chart. I waited for another green upclosed candle before i set my pending buy order. Trade triggered at the price of 1.6175. SL is set at 1.6140. I've set 2 TP for this trade at 1.6230 & 1.6280.

EP: 1.6175
SL: 1.6140
TP: 1.6230 & 1.6280



Trade update: SL hit -35pips

GBPUSD Setup - 24 May 2011

I closed my previous trade manually after a long pin bar formed on H1 which it closed above the TL on daily chart. I placed pending buy order at 1.6130 and it got kicked in within second. SL is set at 1.60900. TP looking at 1.62300

EP: 1.61300
SL: 1.60900
TP: 1.62300



Trade update: Closed trade manaually at 30pips profit.

GBPUSD Setup - 23 May 2011

Price broke through the bullish TL and closed below it. I place a sell order at 1.6160 with SL at 1.6210. TP will set targetting at 1.6040

EP: 1.6160
SL: 1.6210
TP: 1.6040



Trade update: Closed at 30pips profit.

GBPUSD Setup - 19 May 2011

Managed to see a nice long setup after price closed above previous support which resulted in a tweezer bottom. I placed a pending long right after the IB was formed. SL will be set slightly lower at the tweezer bottom.

EP: 1.61850
SL: 1.61400
TP: 1.62300



Trade update: TP hit. 45pips profit

GBPUSD Setup - 19 May 2011

I waited for retracement to complete after price break thru to form a new low since 18 Apr 2011. Price came back up during asian time to retest the previous day high but couldnt break it. A small pin bar was formed on the hourly chart which i placed a pending sell order at 1.6160 with SL looking at 1.6190 (slightly higher than previous high).

EP: 1.6160
SL: 1.6190
TP: 1.6100



Trade update: Closed at BE

GBPUSD Setup - 18 May 2011

After watching price retest the TL drawn from daily chart, i placed a pending sell order right after the IB was formed.

EP: 1.62600
SL: 1.62900
TP: 1.62000



Trade update: TP hit. 60pips profit

GBPUSD Setup - 12 May 2011

Price tested a few time on the bullish TL but appearing each time with lesser energy to break through it. I placed a pending sell order after red IB formed near the TL.

EP: 1.6370
SL: 1.6410
TP: 1.6300

GBPUSD Anaylsis - 10 May 2011

Price bounce off near previous support at 1.6260 and close above the bearish TL. Right now, i am looking for a buy setup especially if price is rejected near the bearish TL. Price rejection to look for is at 1.6360.

GBPUSD Anaylsis - 9 May 2011

There might be a potential H&S coming up on H1 time frame. If price is able to close below the neckline then we should be able to see our target price to hit around 1.6240.



The above is based on my personal analysis. Please don't trade blindly. Market is always volatile especially when we are talking about cable.

Trade update: looks like H&S has formed and price is trending downward direction. Currently 100pips profit. Shifted SL to 1.6350. TP at 1.6240



Trade update: Trade closed at 50% at 100pips and the remaining 50% at 30pips profit.

GBPUSD Setup - 09 May 2011

I am looking for sell setup when price is near 1.6400 especially if price is being tested on the bearish TL. I place a sell order at 1.6380 after an IB is formed couple hours ago. SL will be set slightly above the high of the mother candle at 1.6410. TP will be at 1.6300.

EP: 1.6380
SL: 1.6410
TP: 1.6300



Trade update: adjusted my TP to 1.6240 due to H&S formed on H1 time frame.

GBPUSD Setup - 06 May 2011

As i was listening to election rally speeches, i saw a sell setup after price rejected (daily TL) previous resistance near 1.6440. I immediately place a pending sell order with SL set at 1.6440.

EP: 1.6400
SL: 1.6440
TP: 1.6300



Trade update: Closed at BE.

GBPUSD Setup - 05 May 2011

After watching price failed to break previous resistance level at 1.6550. I placed a pending sell order right after an IB was formed. Price triggered at 1.6520. My SL will be set at 1.6550 and TP will be at 1.6460.

EP: 1.6520
SL: 1.6550
TP: 1.6460



Trade update: TP hit. 60pips

GBPUSD Setup - 04 May 2011

There might be a sell setup coming up. Attached is the screenshot of my charting based on H1. As long as the previous high (red arrow) is holding and a red downclose candle to follow by (either a IB or best an inverted pin bar) will provide strong signal to go for a sell. If price would close above the previous high then i will wait to see price retest 1.6580 again.

p/s: The blue rectangular bar is what i would like price to turn from there to go for a short.

GBPUSD Setup - 03 May 2011

After previous trade hit my SL. I placed a pending sell right after the candle closed below the TL. My price was triggered at 1.6560 with SL at 1.6600. TP looking at price 1.6430

EP: 1.6560
SL: 1.6600
TP: 1.6430



Trade update: Closed at 50pips profit after i shifted SL to 1.6510

GBPUSD Setup - 02 May 2011

I hardly trade last week due to all the happenings rally speeches for our coming election on 7 May 2011. Really excited to see so many Singaporeans not happy with the way our current government handle the country. I hope to see the number of people who attended the rally speeches would turn out as a vote for the opposition parties especially for WP & NSP.

Aside from the GE2011, back to my trading chart again. Around 300pips range moved by cable for last week which was abit boring due to market consolition especially price is near 1.6700 (all times since 15 Nov 2010). Will it break through and head to 1.7000? We should be able to see it in the coming days. Alot of critical news for GBP coming up for this week.

I've drawn a current TL on H4 as well as S&R on my chart. It will be bullish to me based on my charting as long as the TL is holding. I am looking setup where price might rebounce off from 1 of the support level especially those in red color or price bounce off from the TL. It did happen this morning when i saw an inside bar formed after price failed to close below 1.6580 (intesection of the TL & the red support line). I immediately placed a pending buy order slightly high of the IB at 1.6620. SL will be looking around 1.5870 (10pips below the support level at 1.5880. TP will be looking around 1.6720.

EP: 1.6220
SL: 1.5870
TP: 1.6720



Trade update: SL hit -50pips