GBPUSD 8/23-28/2020 forecast
GBPUSD Cot report shows that Comm is now unwinding some of there longs. While large specs and retail are going long.
Cycles are very mixed, Dewey is showing we are at a bottom, seasonality between this week and next week-bottom out except the decimal one. Other cycles are now turning to the downside, so either we bottom out now in the short term or we are starting a correction into W4 and other cycles are confirming it.
There is a model I follow that is indicating a pop on 8-23 then a swing top on 8-25,26ish then down into 8-28,31 time will tell.
I'm still short and will hold until I'm stopped out. I could be wrong and price action continues higher. One thing before I forget, I have been experimenting with Gann Master chart technique. From what I understand if I have it correct the 6-29 low of 1.2250 ran its course on 8-19 @ 1.3266 and should correct. The only way this is void if we take out 1.3266 or I just have it plain wrong and need to backtest this theory more.
So watch out for 1.3266 if it goes above that price then I will cover my shorts, and I need to research Gann Master Chart more.
COT - Report
Cycles
EW
GBPUSD Cot report shows that Comm is now unwinding some of there longs. While large specs and retail are going long.
Cycles are very mixed, Dewey is showing we are at a bottom, seasonality between this week and next week-bottom out except the decimal one. Other cycles are now turning to the downside, so either we bottom out now in the short term or we are starting a correction into W4 and other cycles are confirming it.
There is a model I follow that is indicating a pop on 8-23 then a swing top on 8-25,26ish then down into 8-28,31 time will tell.
I'm still short and will hold until I'm stopped out. I could be wrong and price action continues higher. One thing before I forget, I have been experimenting with Gann Master chart technique. From what I understand if I have it correct the 6-29 low of 1.2250 ran its course on 8-19 @ 1.3266 and should correct. The only way this is void if we take out 1.3266 or I just have it plain wrong and need to backtest this theory more.
So watch out for 1.3266 if it goes above that price then I will cover my shorts, and I need to research Gann Master Chart more.
COT - Report
Cycles
EW
"W. D. Gann said that time is the most important factor among all things."
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