DislikedGbp/Usd
Hmmmm , What do we have here ?.........
Talk about going to Hell in a Hand-Basket ..........
- When will this slippage end ? ............Ignored
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DislikedGbp/Usd
Hmmmm , What do we have here ?.........
Talk about going to Hell in a Hand-Basket ..........
- When will this slippage end ? ............Ignored
DislikedI'm have a bit a trouble nailing down the .786 on GBP/JPY.
Because of the capitulation low set on 03/17/2008 was a rather forceful bottom,
with a nearly 600 pip range that day and lowest price traded coming in
anywhere from 192.25 to 192.50, Could anyone out there sound off about
where they've pegged the St. Patricks Day low on Pound Yen ?
Of course, if we trade under 197 this week, it's a moot point.
Also, 2 other 100% retracement possibilities exist: the lows from 03/20 (19685) and 03/30 (19508).
Anyone targeting these as potential objectives ?
I am reminded that fib retracements are just spots on the map and only have
as much validity as are placed in them by the market as a collective whole.
No where is it written in stone that a market must stop on a dime at .xyz% retracement.
So, that being said, if one were short this pair, does it appear the .786 has ALREADY printed, or not quite yet?
If it has, i'm inclined to cover another piece and move my stop down just above the .707Ignored
DislikedEUR/USD is in a contracting triangle this appears self evident now. Wave D is near a bottom around 1.4615 range in the .786 fibo area, and could head up higher to form w.E to complete larger w.(IV) around 1.4690 -ish. There is a good trend line from the previous w.iv of (III) top at 1.5081 through 1.4904 w.c of this triangle. I doubt w.E will break above that trend line, or the one 20 pips higher from the all time high on July 15 as solid resistance, and may turn down for big w.(V) lower anywhere past 1.4650-ish. (triangle e wave is often short when the other 4 waves touch the trend lines).
The first move in w.i of w.1 of w.(V) should be a vertical drop. If you miss it, wait for the w.ii retracement, just make sure you count 5 down and 3 corrective wave back to .618 fibo or close as a safe entry. Stop would be above w.E high in the 1.4700-50 range, so a great risk/reward ratio opportunity. Timing, well, it may take until Tueday London open to make the start of w.(V), and even Wed for the w.ii retracement entry.
News that NATO will sanction Russia, or that Russia may retaliate with turning off gas pipeline to EU could be a huge news event. This is getting to be big, like the 1963 cuban missle crisis, and as important for Russia.Ignored
DislikedHey traders!
One qiuck post from me. I received a lot of emails about my wave count on the EUR/USD daily, so I decided to post the chart in this tread.
Some good elliotticans in this tread. Nice work guys.
Here is my chart. GregaIgnored
DislikedHey traders!
One qiuck post from me. I received a lot of emails about my wave count on the EUR/USD daily, so I decided to post the chart in this tread.
Some good elliotticans in this tread. Nice work guys.
Here is my chart. Grega
AttachmentIgnored