Cable Update (GBPUSD)
i remember when soros jr came in this thread making such bold prediction, and he lost everthing right before our eyes.
im not making prediction, u cant when the candles show this type of indecision, but i cant see how we going to such great levels .....we are in a bullish arena....and still price doesnt seem comfortable
I live in UK and i cant see whats great i just see a lag behind US.....its all cycles waiting to see what happens..when america comes out of shit UK will learn then...uptrend but i think this is miles away from happening ...
who the hell knows? ....i sure as hell dont! but i shall take the chance here im in on 0.1 mini lot so i wont loss my account on this...
i say u get the 50 lots ready and go short
its really scary for me that most of the traders here talking and trading the cable short or ask whats happening with the cable,why isnt this thing going down..? can you pls tell me justt one signal why it must go down and not up..
here is justt a few long signals what i see on the cable ,and why i said its heading to 2.06.. tweezer bottoms on the the monthly chart,morning star on the weekly ,breakout of downward wedge on daily{reversal} starting with a massive crown/H&S on the daily/4 hour . there is many more ,but the res is tough above 2.000 but will eventually break it later in the summer..
good luck
From the low of 1.9362:
swing 1 up to 1.9622
swing 2 down to 1.9452
swing 3 up to 1.9717
swing 4 down to 1.9612
swing 5 up to 1.9847
in Elliott wave theory, after 5 swings, any market is due for a counter trend move retracing the 5 swings .........
Cable could easely come back 50% to 1.9600 area
AND Cable may reach 2.04/2.06 in a wave C in 5 major swings and this 5 minor swings structure is no. 1 major.
Now down for no. 2.
But i could be wwrrrong !!!
frankly because it looks like a good sell
and on the other hand it looks like a good buy too.
man, dont crack urself out.....if ur technicals/candles dont make any sense to u then fundamentals will explain it.......if u cant afford to trade swing, dont.
U still have a long way to go man, until u see the picture why it moves down,up,sideways etc....i will say to u ,until u get the 'eureka' moment, the
"OMG, all of this movements started to make some sense", then keep learning...........
dont bang ur head on a wall becoz of forex, it isnt worth it
...open ur chart 1hr chart,then compare those five days,to the news results ,forecasts........it all make some sense
and one thing dont give up...
dont bang ur head on a wall becoz of forex, it isnt worth it
...open ur chart 1hr chart,then compare those five days,to the news results ,forecasts........it all make some sense
and one thing dont give up...
