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Cable Update (GBPUSD)

  • #370,041
  • Apr 2, 2014 10:29am Apr 2, 2014 10:29am
Quoting A-speculator
{quote} the downtrend is not old news mate, check your weekly, price made lower lows and lower highs.. i'm thinking the the uptrend is the correction not the other way round.. at least for mid-term..
I don't disagree with you.Fact is every trend starts from lower Time frame 1st.
Harmonically on daily Bullish dragon
Trend line break upwards.Too many things to me against shorting
Price above 200MA which is corporate barometer.
regards
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: audusd.daily2.png Size: 36 KB
In trading, you have to be defensive and aggressive at the same time
  • #370,042
  • Apr 2, 2014 10:34am Apr 2, 2014 10:34am
My long has been underwater for 2 weeks now. How long can i hold my breath for?
It'll be alright on the night
  • #370,043
  • Apr 2, 2014 10:37am Apr 2, 2014 10:37am
Quoting Gaviscon3
My long has been underwater for 2 weeks now. How long can i hold my breath for?
we are just 1 month away from may mate, remember May and go away saying?..

why don't you put a SL for your trade mate?
  • #370,044
  • Apr 2, 2014 10:40am Apr 2, 2014 10:40am
Quoting A-speculator
{quote} i'm thinking about 3715 will be the first stop, the previous low of the range...
I give this chart in conjunction with the cable. If the euro has support, we can expect a rise of cable. Maybe?

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 62 KB
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #370,045
  • Apr 2, 2014 10:41am Apr 2, 2014 10:41am
added 2 more shorts at 6635 total 4
target 65
In trading, you have to be defensive and aggressive at the same time
  • #370,046
  • Apr 2, 2014 10:42am Apr 2, 2014 10:42am
Quoting A-speculator
{quote} we are just 1 month away from may mate, remember May and go away saying?.. why don't you put a SL for your trade mate?
Cos i'm confident the main bull trend isn't over yet. This move downwards isn't strong enough to be regarded as trending. Wave analysis suggests it is counter-trend.

And isn't that saying applicable to the stock market? I.e. dollar weakness.
It'll be alright on the night
  • #370,047
  • Apr 2, 2014 10:43am Apr 2, 2014 10:43am
Quoting godim
{quote} I give this chart in conjunction with the cable. If the euro has support, we can expect a rise of cable. Maybe? {image}
Only issue is Pound has been overbought and it is out of sink with Euro.
In trading, you have to be defensive and aggressive at the same time
  • #370,048
  • Apr 2, 2014 10:44am Apr 2, 2014 10:44am
Quoting Davit
{quote} I don't disagree with you.Fact is every trend starts from lower Time frame 1st. Harmonically on daily Bullish dragon Trend line break upwards.Too many things to me against shorting Price above 200MA which is corporate barometer. regards {image} {image}
yeah, confirmation is price closed below 9125 in daily.. but where the price now is just too attempting, seems like currently price is right at the support turned resistance area and perhaps is a cluster resistance.. anyway, the risk aren't that huge.. as I said in my last post, invalidation of my view is price closed above 928x area..
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Click to Enlarge Name: audusddaily.png Size: 55 KB
  • #370,049
  • Apr 2, 2014 10:45am Apr 2, 2014 10:45am
Quoting Gaviscon3
{quote} Cos i'm confident the main bull trend isn't over yet. This move downwards isn't strong enough to be regarded as trending. Wave analysis suggests it is counter-trend. And isn't that saying applicable to the stock market? I.e. dollar weakness.
Wait a sec i'm on the wrong bloody forum. My underwater long is EUR/USD. Closed my long here a few days ago looking for another entry.
It'll be alright on the night
  • #370,050
  • Apr 2, 2014 10:46am Apr 2, 2014 10:46am
Quoting godim
{quote} I give this chart in conjunction with the cable. If the euro has support, we can expect a rise of cable. Maybe? {image}
as i see it, i'm afraid that won't be the case mate.. sorry my friend..
  • #370,051
  • Apr 2, 2014 10:48am Apr 2, 2014 10:48am
Quoting Gaviscon3
{quote} Wait a sec i'm on the wrong bloody forum. My underwater long is EUR/USD. Closed my long here a few days ago looking for another entry.
i hope you're not panicking mate.. lol.
  • #370,052
  • Apr 2, 2014 10:49am Apr 2, 2014 10:49am
Quoting Davit
{quote} Only issue is Pound has been overbought and it is out of sink with Euro.
Support for the cable is 6621. Let us examine the euro.
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #370,053
  • Apr 2, 2014 10:51am Apr 2, 2014 10:51am
Quoting godim
{quote} Support for the cable is 6621. Let us examine the euro.
last i checked, support area is at about 6585 area.. the low from the 4h range..
  • #370,054
  • Apr 2, 2014 10:55am Apr 2, 2014 10:55am
Quoting A-speculator
{quote} last i checked, support area is at about 6585 area.. the low from the 4h range..
Anything is possible. Even if the support is there.
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #370,055
  • Apr 2, 2014 10:55am Apr 2, 2014 10:55am
Quoting A-speculator
{quote} last i checked, support area is at about 6585 area.. the low from the 4h range..
He is right 6620-66
More places price touched previously stronger the structure.
As you can see 66-6620 has been touched repeatedly
Lot of traders place exact number on S/R but that's a mistake.Usually its a zone that could be 20-40pips range.Its our western culture bias assuming everything must be precise to a tee.Price is a living thing and it fluctuates...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.daily.png Size: 37 KB
In trading, you have to be defensive and aggressive at the same time
  • #370,056
  • Apr 2, 2014 10:58am Apr 2, 2014 10:58am

Quoting iqyu5an
Attached Image
not euphoria follower
  • #370,057
  • Apr 2, 2014 11:01am Apr 2, 2014 11:01am
Quoting Davit
{quote} He is right 6620-66 More places price touched previously stronger the structure. As you can see 66-6620 has been touched repeatedly Lot of traders place exact number on S/R but that's a mistake.Usually its a zone that could be 20-40pips range.Its our western culture bias assuming everything must be precise to a tee. {image}
if you consider minor support, i would agree, but support where high possibility of strong rejection... i can't agree with that price since the move just started, i don't think it will stall in that fashion..
  • #370,058
  • Apr 2, 2014 11:03am Apr 2, 2014 11:03am
Quoting A-speculator
{quote} i hope you're not panicking mate.. lol.
What i wrote above is exactly why i'm not panicking.
It'll be alright on the night
  • #370,059
  • Apr 2, 2014 11:04am Apr 2, 2014 11:04am
Quoting Gaviscon3
{quote} What i wrote above is exactly why i'm not panicking.
yeah mate, you're the man!
  • #370,060
  • Apr 2, 2014 11:06am Apr 2, 2014 11:06am
It could go up or down. Best to be patient and wait (if you are not scalping).
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