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Cable Update (GBPUSD)

  • #371,981
  • Apr 16, 2014 3:59am Apr 16, 2014 3:59am
Quoting slow-trader
{quote} "I'll be back" ... to meet you at Break Even ... in about 2 years
resistance turning support now @ 6700 on W1 charts.
  • #371,982
  • Apr 16, 2014 4:01am Apr 16, 2014 4:01am
for the long term bulls...6820/23, 6877 and 7039 the former swing highs to overcome next...for the long term bears...well erm ?.....good luck I suppose - the force is not with them in this moment.

best wishes.
it's all gone a bit........
  • #371,983
  • Apr 16, 2014 4:03am Apr 16, 2014 4:03am
Quoting ruffryders
{quote} resistance turning support now @ 6700 on W1 charts.
check GBP CAD / GBP JPY / GBP CHF also.
  • #371,984
  • Apr 16, 2014 4:03am Apr 16, 2014 4:03am
GBP/XXX = Bubble
doesn't belong anywhere near these levels
2000 pip rally is bloated full of pips
  • #371,985
  • Apr 16, 2014 4:03am Apr 16, 2014 4:03am
Quoting ruffryders
{quote} resistance turning support now @ 6700 on W1 charts.
I think we test 1.687x before we hit that support. USDX on track to test 79.60, 79.50
  • #371,986
  • Apr 16, 2014 4:03am Apr 16, 2014 4:03am
Quoting DerekTrotter
Still long from Yesterday ..
Well done dell just got back in from taking the mother in law to airport ,, missed all action, lost 56 pips on gbus 19 pips gbj,, not good ,so nearl 4 figures down , need tea, back soon i trade left gold , well done
  • #371,987
  • Apr 16, 2014 4:05am Apr 16, 2014 4:05am
Quoting Halba
GBP/XXX = Bubble doesn't belong anywhere near these levels 2000 pip rally is bloated full of pips
What bubble .. chart is from past couple decades, GBP maybe 'cheap' to some ...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.JPG Size: 187 KB
  • #371,988
  • Apr 16, 2014 4:05am Apr 16, 2014 4:05am
Quoting ruffryders
{quote} not laughing here at someone's loss, it's just that some guys are way too one-sided.
I see bro, i 've been following your post at AUD/USD also, you are good.....
  • #371,989
  • Apr 16, 2014 4:06am Apr 16, 2014 4:06am
Quoting elbert3
{quote} Well done dell just got back in from taking the mother in law to airport ,, missed all action, lost 56 pips on gbus 19 pips gbj,, not good ,so nearl 4 figures down , need tea, back soon i trade left gold , well done
Tea is always a good idea.. just going with the flow E, thats all really..
  • #371,990
  • Apr 16, 2014 4:12am Apr 16, 2014 4:12am
bought more GUs (previously got some @ 6740 got 10 mln). Total GU exposure 25 now. Looking for positive feedback within 2-4 months, final TP is 7400-7600.
  • #371,991
  • Apr 16, 2014 4:14am Apr 16, 2014 4:14am
Quoting Trader88q
Hello traders. There is my view on things. 1. Put EMA 800 on weekly chart. Have you ever? No then do it. 2. Draw fibonachi lines from the top 2.0150 to 1.350 so drawing is prepared now. Lets discuss the current situation. As I resentlly found that when EMA 800 days is broken on weekly the huge trend continuation goes on. The brake down of EMA800 was in 6470 -6500 area. Now look at the chart nr.2 what happened in 2001 with pound very the same situation like now. You see it ?!! ok Another thing now look at fibonachi. Once 7050 will be broken it...
My monday forecast. Have an open interest to continue in shorting pound?
  • #371,992
  • Apr 16, 2014 4:15am Apr 16, 2014 4:15am
THINK ABOUT THIS. BE CAREFULL WITH YOUR LONG TERM SHORTS ! {image} {image}[/quote]
  • #371,993
  • Apr 16, 2014 4:17am Apr 16, 2014 4:17am
Quoting ruffryders
bought more GUs (previously got some @ 6740 got 10 mln). Total GU exposure 25 now. Looking for positive feedback within 2-4 months, final TP is 7400-7600.
dude, I thought you were an options trader...

look at the implied probability of trading 75 or so in 4 months...
  • #371,994
  • Apr 16, 2014 4:17am Apr 16, 2014 4:17am
Here's contribution from my side, price levels for GU LONGs to watch, the levels are active for the next 4-6 months.


1.7740 ULTIMATE RESISTANCE
1.7440 STRONG RESISTANCE
1.7140 RESISTANCE
1.7120 RESISTACE
1.7040 STRONG RESISTANCE
1.6900 RESISTANCE
1.6860 RESISTANCE
1.6840 RESISTANCE
  • #371,995
  • Apr 16, 2014 4:17am Apr 16, 2014 4:17am
Looks like it will hit 7000 this week ye. likely
Attached Image (click to enlarge)
Click to Enlarge Name: chart2.jpg Size: 264 KB
  • #371,996
  • Apr 16, 2014 4:21am Apr 16, 2014 4:21am
Howzit!

GU Weekly (final candle invalid)

Position chart

Resistance is being challenged, Cable is challenging multi-year high's
Trend remains up
RSI shows sustained price action above 57 (bullish) and even signalled +ve divergence (:nerd:blush:
The retail traders are sure we are ready for a big short... (involuntary liquidity providers?)
There are no signs of reversal.... yet

BTFD (when its at D)
Being wrong in the markets is often not a choice, but staying wrong always is "@ivanhoff"

Attached Image (click to enlarge)
Click to Enlarge Name: GU Weekly.png Size: 19 KB
  • #371,997
  • Apr 16, 2014 4:22am Apr 16, 2014 4:22am
Quoting trader88q
looks like it will hit 7000 this week ye. Likely {image}
yes, in fact, eu will take out 4000 after this holiday easter week, current rangebound market is due to traders taking a break.

the eur usd will also take out 4000 shortly and then will ultimately take on 4200-4400 within next several months.

don't need to make things too complicated. Resistance is now support on daily euro charts.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 62 KB
  • #371,998
  • Apr 16, 2014 4:23am Apr 16, 2014 4:23am
Quoting Trader88q
Looks like it will hit 7000 this week ye. likely {image}
Traders88q I like your chart. I don't think that the move will be so dramatic, but 7400 is definately ON now.
The chart you are showing shows a clearly defined HTF tower bottom pattern, one must be on drugs to ignore this.
  • #371,999
  • Apr 16, 2014 4:26am Apr 16, 2014 4:26am
Quoting ruffryders
{quote} yes, in fact, eu will take out 4000 after this holiday easter week, current rangebound market is due to traders taking a break. the eur usd will also take out 4000 shortly and then will ultimately take on 4200-4400 within next several months. don't need to make things too complicated. Resistance is now support on daily euro charts. {image}
posted this on Sunday in EUR USD thread, the guys there are 100% short sellers, so I'm not posting there anymore.

Quoting ruffryders
by looks of it, will pullback to 3800-40 area, short sellers get excited, add more, weak longs cover, and then EUs reverses and takes out 3950, heads for 4000, causes shorters to experience severe heartburn on its way. Alternative, as noted by other senior contributors, is range bound 3800-3900, however ultimately price action builds up and takes out 4000 regardless. EU won't trade below 3600-3700, before it takes out 4000. It's not a prediction, but just my opinion, based on review of latest technicals.
  • #372,000
  • Apr 16, 2014 4:28am Apr 16, 2014 4:28am
Quoting Mr.C
Pending GU sell placed @ 1,6748. SL @ 1,6788.
Hello traders. GU short killed. Account damaged with -0.88%.

Wish you all a nice trading day!
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
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