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Cable Update (GBPUSD)

  • #371,321
  • Apr 10, 2014 12:57am Apr 10, 2014 12:57am
Quoting Ill-b-back
{quote} I would, but then I can't see my monitor. A seat, a quiet prayer and a little weed might get me through
Daily and 4 hour look promising for a potential pull back off this level.

Hang in there mate.

Attached Images
  • #371,322
  • Apr 10, 2014 1:01am Apr 10, 2014 1:01am
currently on GUs I don't see anything pointing to the downside.

In fact the recent move and followthrough confirmed the BULL Engulfer pattern on W1, see below.
+ support by the TL is strong too. Res becoming supp now for price action.

current recommended strat: buy into dips, or just stay LONG.
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  • #371,323
  • Apr 10, 2014 1:03am Apr 10, 2014 1:03am
The only thing that will bring cable down now is the profit taking by the already in black bulls.
All posts are my personal opinion
  • #371,324
  • Apr 10, 2014 1:05am Apr 10, 2014 1:05am
Quoting Rtm
The only thing that will bring cable down now is the profit taking by the already in black bulls.
just buy the dips same.
  • #371,325
  • Apr 10, 2014 1:08am Apr 10, 2014 1:08am
Quoting ruffryders
{quote} just buy the dips same.
6750-70 will produce reaction. 6730-40 is lowest GU will manage today.
any dip to 30-60 is considered a BUY opportunity.
  • #371,326
  • Apr 10, 2014 1:10am Apr 10, 2014 1:10am
Quoting ruffryders
{quote} 6750-70 will produce reaction. 6730-40 is lowest GU will manage today. any dip to 30-60 is considered a BUY opportunity.
With you there, makes perfect sense in my books. Im about to short GBPAUD big though
All posts are my personal opinion
  • #371,327
  • Apr 10, 2014 1:12am Apr 10, 2014 1:12am
gus levels for trading today


1.6830 tp4 final out for longs today
1.6820 tp3
1.6810 tp2
1.6790 tp1

1.6775 daily pivot

1.6760 buy dip here
1.6740 add if dips here
  • #371,328
  • Apr 10, 2014 1:17am Apr 10, 2014 1:17am
QUICK LOOK AT EU D1 CHART.

strong support currently evident. (highlighted on the chart). let's see what that yield. Today's later on also Greece bond auction, if all goes well, this should provide more support / buying for EU, since greece is first time on the markets since the bailout by EU. EU does look like it's set to test 3950-4000 area, however this play is not as clear as GU now.
Attached Image (click to enlarge)
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  • #371,329
  • Apr 10, 2014 1:22am Apr 10, 2014 1:22am
Still holding my long positions and will carry to hold them unless i see a valid break below 1.67, news today should be GBP bullish and i believe we will see the push up to 1.69 levels and possibly above so that 1.6850/1.69 will be the new support.

I will look to add and build upon my longs, in case of a retrace i see 1.6750/65 good levels of adding and EURUSD i see 1.3820/30 also good levels to add to my longs, in case we do not get this retrace i will re-enter at 1.6818 and 1.3885

Happy Trading!
Cheers!!
  • #371,330
  • Apr 10, 2014 1:26am Apr 10, 2014 1:26am
Quoting PipsMaster23
Still holding my long positions and will carry to hold them unless i see a valid break below 1.67, news today should be GBP bullish and i believe we will see the push up to 1.69 levels and possibly above so that 1.6850/1.69 will be the new support. I will look to add and build upon my longs, in case of a retrace i see 1.6750/65 good levels of adding and EURUSD i see 1.3820/30 also good levels to add to my longs, in case we do not get this retrace i will re-enter at 1.6818 and 1.3885 Happy Trading!
agreed here. EU cycle extraction via SSA also points towards 4040 the top band of the upwards sloping channel.
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  • #371,331
  • Apr 10, 2014 1:30am Apr 10, 2014 1:30am
Quoting PipsMaster23
Still holding my long positions and will carry to hold them unless i see a valid break below 1.67, news today should be GBP bullish and i believe we will see the push up to 1.69 levels and possibly above so that 1.6850/1.69 will be the new support. I will look to add and build upon my longs, in case of a retrace i see 1.6750/65 good levels of adding and EURUSD i see 1.3820/30 also good levels to add to my longs, in case we do not get this retrace i will re-enter at 1.6818 and 1.3885 Happy Trading!
EU TP target calc is fairly straightforward. Swissy has further room to fall from current 8800 to 8580-8620. This yield 200 points.
Add to the current EU bid = 4040.
  • #371,332
  • Apr 10, 2014 1:33am Apr 10, 2014 1:33am
Quoting ruffryders
gus levels for trading today 1.6830 tp4 final out for longs today 1.6820 tp3 1.6810 tp2 1.6790 tp1 1.6775 daily pivot 1.6760 buy dip here 1.6740 add if dips here
dippers buying in play soon.
  • #371,333
  • Apr 10, 2014 1:36am Apr 10, 2014 1:36am
Quoting Rtm
{quote} With you there, makes perfect sense in my books. Im about to short GBPAUD big though

If GA breaks 7384 my TP level under that is 6630. But we should see a reaction at 7384. It's strong support and won't go without a fight, so it's a nice target for a bounce.

Quoting ruffryders
{quote} 6750-70 will produce reaction. 6730-40 is lowest GU will manage today. any dip to 30-60 is considered a BUY opportunity.
I agree.

6750 developed nice support yesterday so that's the level I'm watching too. If it holds, 6870 is next. If doesn't, we could pull back to 6690- 6650 levels.
  • #371,334
  • Apr 10, 2014 1:40am Apr 10, 2014 1:40am
Quoting Luther
{quote} If GA breaks 7384 my TP level under that is 6630. But we should see a reaction at 7384. It's strong support, so it won't go without a fight, so it's a nice target for a bounce. {quote} I agree. 6750 developed nice support yesterday so that's the level I'm watching too. If it holds, 6870 is next. If doesn't, we could pull back to 6690- 6650 levels.
dipset, dipset, dipset, just buy the dips boss!

though I'm not technically long GU myself, I'm in big NUs LONG, so the link is there.
  • #371,335
  • Apr 10, 2014 1:45am Apr 10, 2014 1:45am
Quoting Luther
{quote} If GA breaks 7384 my TP level under that is 6630. But we should see a reaction at 7384. It's strong support and won't go without a fight, so it's a nice target for a bounce. {quote} I agree. 6750 developed nice support yesterday so that's the level I'm watching too. If it holds, 6870 is next. If doesn't, we could pull back to 6690- 6650 levels.
I am looking for 7420 then will unload half and trail the rest ! GBPAUD
All posts are my personal opinion
  • #371,336
  • Apr 10, 2014 1:45am Apr 10, 2014 1:45am
Quoting albchr
{quote} Good to see you my friend. Hope all is well and yep...agreed
Good to see you too buddy all is good here hope you're doing well!
Thank You
  • #371,337
  • Apr 10, 2014 1:54am Apr 10, 2014 1:54am
Quoting Luther
{quote} Daily and 4 hour look promising for a potential pull back off this level. Hang in there mate. {image} {image}
Thanks Luther

Yes, I like that 4hr.

It's hit smack on what was my alternate bullish scenario target from last week before a measured tech drop.
Let's see...
Come with me if you want to live....
  • #371,338
  • Apr 10, 2014 2:00am Apr 10, 2014 2:00am
Quoting Ill-b-back
{quote} Thanks Luther Yes, I like that 4hr. It's hit smack on what was my alternate bullish scenario target from last week before a measured tech drop. Let's see...
fact: not much of a pullback will be offered on GUs.
  • #371,339
  • Apr 10, 2014 2:01am Apr 10, 2014 2:01am
Quoting ruffryders
currently on GUs I don't see anything pointing to the downside. In fact the recent move and followthrough confirmed the BULL Engulfer pattern on W1, see below. + support by the TL is strong too. Res becoming supp now for price action. current recommended strat: buy into dips, or just stay LONG. {image}
We got 2 days of that candle left and showing rejection off stiff multi year resistance.
You could be right but in my opinion, buying dips now is either too late or too early depending on your perspective.
Come with me if you want to live....
  • #371,340
  • Apr 10, 2014 2:02am Apr 10, 2014 2:02am
Quoting ruffryders
{quote} fact: not much of a pullback will be offered on GUs.
Love seeing "FACTS" being typed about forex

I've seen it time and time again....
Come with me if you want to live....
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