GBPUSD

This has been dumped hard, however i think it may be about turn around...
The weekly shows this is on the falling support channel trendline.
uk.advfn.com/p.php?pid=chartscreenshotsh...xyHcAaIuImxh5H1AvbI=

The daily shows a massive Bullish divergence.
uk.advfn.com/p.php?pid=chartscreenshotsh...ikLoG5l6M26k+ExcXtg=

So i'm long @ 1.4018, with my stop just below $1.40.

Regards,
Trendfriend.

This is going to pump big style, over coming days. Watch one hour chart for entry....

Dyor imo


Ws on travels

Free trade now





dl.dropboxusercontent.com/u/4899609/gbpusd4thjune2015.png

remo wrote: Im long from the re-test of the 50day moving average. This came after the bullish engulfing pattern yesterday and the fact that it went half way down the candle today and the 50day moving average was at roughly the same place. The area where this bounced yesterday is the 50% fib as well.
so my stop is below yesterdays low so around 100 points.
ive drawn the trend line from yesterdays touch
Im hoping all these factors should give the currency a bit of support from here and move this higher.
My target for this is the 200 Exponential moving average which is at 1.5523
currency are not for the faint hearted

dl.dropboxusercontent.com/u/4899609/gbpusd3rdjune2015.png

Im long from the re-test of the 50day moving average. This came after the bullish engulfing pattern yesterday and the fact that it went half way down the candle today and the 50day moving average was at roughly the same place. The area where this bounced yesterday is the 50% fib as well.
so my stop is below yesterdays low so around 100 points.
ive drawn the trend line from yesterdays touch
Im hoping all these factors should give the currency a bit of support from here and move this higher.
My target for this is the 200 Exponential moving average which is at 1.5523
currency are not for the faint hearted

dl.dropboxusercontent.com/u/4899609/gbpusd3rdjune2015.png

Hi TF!

Glad to hear all is well with you. Missed your input in the Chatroom, so hopefully will see you there soon!

Yeah, it the USD is spanking the hell out of everything - including GBP.

I placed my stop at 1.4690 because of the June 2010 break out; given how close it now looks to stopping me out, I have a few options:

1. Close ASAP and realise the loss
2. Move the stop loss further down to protect my position
3. Let it be, and let the chips fall where they may.

I've gone with option 2, and moved it to: 1.4350


Take care and best of luck - here's hoping it plays out for both of us!

Hi Libero,

I'm good thanks, hope your keeping well buddy..

Just wondering, why your stop is 1.4690??
I think this could tumble quickly if 1.4790 (ish) breaks, could head to low 1.40's possibly

Just about holding on now.
ATB,
Trendfriend.