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Cable Update (GBPUSD)

  • #61,701
  • Apr 15, 2008 6:42pm Apr 15, 2008 6:42pm
Quoting burkejonathan
Here's the latest Elliott Wave forecast on GBP. It's looking very good for a short on the Zig Zag wave C. the most profitable wave of all the waveforms. It has 160 rating and is very likely to occur.

I strongly recommend a short on the break of the Camarilla L3 line which is roughly 9654.

http://img72.imageshack.us/img72/274...1308cb2.th.jpg


Take profit would be a minimum of todays Camarilla H4/(H5 most likely) but on a daily we could see 1.9 to 1.87. This move will be fast so it's going to be very profitable.


I'll post another shot after a bit of time goes by today.

Johan
Well, the last Elliott wave prediction posted from the other day that I put up has worked out nicely. I'm in profit roughly 1.3k from the Break of the Camarilla L3 line today, (3 lots), and still is open.

Looks like we're heading toward 1.9 roughly here real soon. It's a Zig Zag wave C, the most prevalent and profitable wave of all Elliott Waves, so look for another break of the H3 Camarilla line overnight to sell into. To clarify from the last post when I said "fast", it means it will be a very quick move down in general.


Here's the chart....

http://img90.imageshack.us/img90/995...1508hy7.th.jpg



Johan
  • #61,702
  • Apr 15, 2008 7:22pm Apr 15, 2008 7:22pm
Quoting burkejonathan
Well, the last Elliott wave prediction posted from the other day that I put up has worked out nicely. I'm in profit roughly 1.3k from the Break of the Camarilla L3 line today, (3 lots), and still is open.

Looks like we're heading toward 1.9 roughly here real soon. It's a Zig Zag wave C, the most prevalent and profitable wave of all Elliott Waves, so look for another break of the H3 Camarilla line overnight to sell into. To clarify from the last post when I said "fast", it means it will be a very quick move down in general.


Here's the chart....

http://img90.imageshack.us/img90/995...1508hy7.th.jpg



Johan
gr8 analysis bro but ur taking the dollar out of the equation and thats wrong because its not all about technicals.

so while i agree that cable is bearish i dont think the targets u drew are likely to happen if US stays in such bad shape.

good luck bro!!
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #61,703
  • Apr 15, 2008 7:53pm Apr 15, 2008 7:53pm
Sorry but the only way to make a profit outta EW is to sell a book about it!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #61,704
  • Apr 15, 2008 8:07pm Apr 15, 2008 8:07pm
Quoting Turveyd
Sorry but the only way to make a profit outta EW is to sell a book about it!!!
Now thats funny!
USD Est Non Mortuus
  • #61,705
  • Apr 15, 2008 8:15pm Apr 15, 2008 8:15pm
Quoting Tmac
I dont know about all that but my bank account likes them and so do many others that properly apply them. traders in a EW room make a pretty good living often times with calls 2 and 3 pips off using EW fibs and trend lines

Have you ever studied them yourself?? If not then how can you possibly make the statement you just made?
wOOt!!!
USD Est Non Mortuus
  • #61,706
  • Apr 15, 2008 8:33pm Apr 15, 2008 8:33pm
Yes I studied them 6years ago while trading stocks, even kept records of peoples EW predictions and listened to there excuses while they make out they read it wrong not it's fault.

So unless they've refined them over the last 6years or work particulary well with Forex pairs, I'll give them a miss thanks.

Sorry!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #61,707
  • Apr 16, 2008 12:09am Apr 16, 2008 12:09am
Nicest set of 4 hr tweezers I have seen in awhile.
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  • #61,708
  • Apr 16, 2008 12:15am Apr 16, 2008 12:15am
put a long scalp in @ 9624 with a very tight SL. PT is somewhere around 9764. I'll prob puss out and tp at 9669 though because <insert random life crap here>
USD Est Non Mortuus
  • #61,709
  • Apr 16, 2008 12:23am Apr 16, 2008 12:23am
I think you will be fine, nut we'll see. I am long with a stop at 1.9590 and a TP1 at 1.9734. If were lucky we may get 200 here.

Quoting LuckyLurker
put a long scalp in @ 9624 with a very tight SL. PT is somewhere around 9764. I'll prob puss out and tp at 9669 though because <insert random life crap here>
  • #61,710
  • Edited 12:40am Apr 16, 2008 12:25am | Edited 12:40am
yea this is one of those trades where the mm is so conservative that it just doesn't matter for me. tp 1 would give some cash though... my sl is the same bro.
USD Est Non Mortuus
  • #61,711
  • Apr 16, 2008 1:07am Apr 16, 2008 1:07am
You can always depend on the tweezers
  • #61,712
  • Apr 16, 2008 1:09am Apr 16, 2008 1:09am
right
USD Est Non Mortuus
  • #61,713
  • Apr 16, 2008 1:19am Apr 16, 2008 1:19am
Testing the daily pivot
  • #61,714
  • Apr 16, 2008 1:26am Apr 16, 2008 1:26am
Daily Pivot has held andwere off to the races


Quoting hard1head1
Testing the daily pivot
  • #61,715
  • Apr 16, 2008 1:42am Apr 16, 2008 1:42am
this works.
USD Est Non Mortuus
  • #61,716
  • Apr 16, 2008 1:53am Apr 16, 2008 1:53am
took some profit @ 9682.. the rest is set to BE
USD Est Non Mortuus
  • #61,717
  • Apr 16, 2008 2:10am Apr 16, 2008 2:10am
On 38.2 Fibo Will it break it north?
  • #61,718
  • Apr 16, 2008 2:26am Apr 16, 2008 2:26am
Just rather late to enter long, but I have did from 1.9693.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #61,719
  • Apr 16, 2008 2:28am Apr 16, 2008 2:28am
closing the rest @ 9718. Im stalking short now.. Will prob enter around 43-74
USD Est Non Mortuus
  • #61,720
  • Apr 16, 2008 2:30am Apr 16, 2008 2:30am
That 4hr descending resistance trend line tested twice now at monday's high 9895 area, currently this previous 4hr oft-tested support/resistance area 9719-36 providing the intraday resistance off that earlier tweezer bottom in 4hr.
Attached Image (click to enlarge)
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