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Joined Jan 2007
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Status: its now or never
|531 Posts
the combination of dlr/yen and cable has resulted the break out of gbp/yen falling wedge .. i believe pattern traders have their bags filled with lots of pips (whether it is $1/pip or $1,000/pip) .. have a happy new year
previously the critical support held at 13618* and 13501* .. and resistence may hold till it breaks R2 to complete the 4 hr falling wedge pattern .. if this does happen lookout for a pattern breakout unto perhaps a thousand pips more (?)
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Joined Jan 2007
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Status: its now or never
|531 Posts
target,3 @13534 is accomplished .. this is a fibo# number .. a wolfe wave minimum target base on 4hr formation .. note 1hr wolfe wave set up was broken at 13070* .. always has to remember larger setup over ride the smaller ones it usually happens most of the time .. the current low for gc is 16117* so everyone is in the money
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Joined Jan 2007
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Status: its now or never
|531 Posts
the ratio of 2 is achieved at 1.37* for eu
the next plane of waves is open up once price can take out this area (?)
i presume its journey would be its last
if it is not the low would have established itself
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Joined Jan 2007
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Status: its now or never
|531 Posts
EU
I need to see if price is able to break the wolfe wave formation and not delay the projected target of the gann# fan degree.. not forgetting the butterfly effect price is near / approaching one of its fibo# number
Price completed the setup at 14955* an 180 pips down wave, up wave target #1 eyed 15350* target #2 eyed 15556* - current high 15571 - the captured low of GU is significant
>
I would like to mention the levels of EU and GU
GU is hanging just below 1.62
EU is hanging around mid 1.41