if so 9122 would be the tp and could go as high as 9155 then we finally short to 8650's that is when I m gonna trade the cable
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Quoting fixme1tooDislikedtp on aud and nzd today for 60 pips on aud and nzd 40 pips will reenter as we go back down should hit 7629 on aud and 6600 on nzd
for reentry on long to eventually 6714 on nzd and 7735 area on the audIgnored
Quoting sarama001Dislikedfixme1too,
if cable is going up, what wave did it just complete?Ignored
Quoting fixme1tooDislikedif so 9122 would be the tp and could go as high as 9155 then we finally short to 8650's that is when I m gonna trade the cableIgnored
Quoting monarchDislikedYou are expecting GBP to go as low as the 8650 area.
This is just a simple question that popped into my head.
If the GBP is going to drop to 8650 area, why don't you place a short now and pick up a bit of pips, then when it gets there, you can place your long for the ride back up.
Would it benefit more to have a gain going both ways?
Thanks, just a thought.
MonarchIgnored
Quoting JustinDislikedI'm not sure if my understanding is correct but fixme1too suggests that cable will go north to 9122 or even 9155 before heading south to 8650.
Which simply means go LONG now till 9122 (9155) then SHORT from their to 8650
Am I right ??Ignored
Quoting 1st_laneDislikedabout the long position.. i may take lot of cautions cause wave 2 is corrective wave.. its hard to predict the end of the wave..Ignored
Quoting fixme1tooDislikedThis is correct 1st lane that is why I would wait but we did not bounce last night and have broke 8921 showing that we can very well go to as low as the 8650's now. Scenario 1 we go to 8650's if this happens this mini C wave of the extended b on page 52 chart will go to 261.8 area of that mini b wave after fib is put on it. If this happens we will form a 12345 wave complex to get there insead of a ABC wave complex now its getting complicated on the explanation with all the 123 abc talk but look at the chart on 52 and you will see.
Scneario 2 We complete this BIG A wave at the 50 fib point before going up as you know An A WAVE can go to between 38 and 50% fib. If this happens look for bounce at 8848 area. AS you konw the CABLE likes extremes on all fibs and over shoots them by great margin which is ok by rule as long as it closes within the rules for that fib. But 1st lane is correct When and if I decide to trade the cable it will be after CLEAR signal that the corrective wave has finished and we are on the way down. As I said in my previous statement B waves can overextend on stop where they should by rule That is why I wait. I told you GBP is like a BUCKING BULL I dont risk my money unless it is a Sure move. You can make so much more on other pairs for alot cheaper Like with NZD you can buy a whole lot for 1300.00 how much of the cable can you get for 1300.00? each pip would equal a little mor than 1.00 on the cable and on the NZD each pip is worth 10.00 I am back in now on the NZD waiting for the YEN and AUD to get back in yen is setting up and AUD is 7 pips away from my entry point
I got an email from a new team member that is new to forex asking for advice about forex and how to succeed . One good point of advice is if you are new to forex dont trade the cable yet unless you want to loose money and get beat up. The cable will more than likely continue to go down now since breaking very import support at 8921. Just wat for the big wave down. Even if this is a 12345 complex this is just wave 1 of 5 to form a BIG A wave of the previous BIG 5 wave starting from 10-13-06 ending last friday and the 1st wave of a mini C wave from the extended B wave on the chart from page 52.Ignored
Quoting AdamFxDislikedHi Fixme
I have a point of confusion about this move on the GBPUSD - just the 4 hour chart. Can you clear it up for me.
A few posts ago you said
"Another reason I think we are going up is because we have completed 12345 a and finishing the b wave on the 4hour chart that is why we are going down right now the end of b wave on the 4 hour should be the 8932 level.
Did you mis-write this?
I ask because back on 11 Nov you said about the high at 1.9177 was point B the end of the B wave (shown on your 4 Hour GBPUSD H4 chart back on page 52 - sorry, don't know how to attach your chart here).
"On the daily we are at the top of a BIG 1 wave that will go down to BIG 2
on the 4hour we are at the top of a BIG B wave that will go down to complete BIG C disregard the mini waves in between"
I'm new to EW theory so stuff like this throws me off when I'm working with your analysis on my charts.
Which is it - Are we in the B wave waiting for the bottom B, or has the B completed at 1.9177 and we are in the C wave waiting for C to complete?
Thanks and good trading
Adam FIgnored
Quoting fixme1tooDislikedtp on aud and nzd today for 60 pips on aud and nzd 40 pips will reenter as we go back down should hit 7629 on aud and 6600 on nzd
for reentry on long to eventually 6714 on nzd and 7735 area on the audIgnored