DislikedThank you..we are looking into it now...any help is appreciated...sounds like best to make your own?? any other options?? There are no coincidences...weird how i was drawn to look up your past posts....LOL to you..Ignored
Cable Update (GBPUSD)
- #240,747
- Edited 12:36am Jul 24, 2010 12:12am | Edited 12:36am
Yes
Also, is there a rule for the Top of B cannot exceed the Top of 5 ? I am trying to pick a top here for a nice ride down
and Wave C is typically at least as large as wave A and often extends to 1.618 times wave A or beyond. So that should be a fun ride.
- #240,749
- Jul 24, 2010 5:11am Jul 24, 2010 5:11am
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
- #240,750
- Jul 24, 2010 6:42am Jul 24, 2010 6:42am
Hi Honored..as I have read ...there are only three rules and many exceptions...This is my view...?? Any other thought??
B can go above w-5 if is irregular zigzag...not by much usually.. we have a 5-w count for leg AB..and possibly a 1-5 wave count starting down to C
C usually goes to just below w-4....or to A =double bottom..or can be an ABCD pattern.. and C won't quite make it to A but will turn to make a D leg=161.8% of BC
B can go above w-5 if is irregular zigzag...not by much usually.. we have a 5-w count for leg AB..and possibly a 1-5 wave count starting down to C
C usually goes to just below w-4....or to A =double bottom..or can be an ABCD pattern.. and C won't quite make it to A but will turn to make a D leg=161.8% of BC
Thanks. Correct my EW chart if i am wrong.
Also, is there a rule for the Top of B cannot exceed the Top of 5 ? I am trying to pick a top here for a nice ride down
and Wave C is typically at least as large as wave A and often extends to 1.618 times wave A or beyond. So that should be a fun ride.
- #240,753
- Jul 24, 2010 7:11am Jul 24, 2010 7:11am
- Joined Jan 2010 | Status: The Voodoo Boodoo Club | 42,051 Posts
salam hi all
a lot of reading been busy hope all well and in green ,
same plan same lines no break no shack just enjoy the ride a break of 15440's will take us to the moon other wise we are in a nice range, lets play it safe best of luck to all
- #240,755
- Jul 24, 2010 7:31am Jul 24, 2010 7:31am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
What a beautiful day!
Closed half of my 1.518 longs @ 1.5430
Remainder SL @ BE and Limit @ 157.48 whatever it reaches first....
See you boys and girls in a few weeks, happy pipping.......
- #240,757
- Jul 24, 2010 8:14am Jul 24, 2010 8:14am
- | Joined May 2009 | Status: Focus + Patience = Pip$ | 1,513 Posts
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I'd rather make money than be right.
- #240,758
- Jul 24, 2010 8:16am Jul 24, 2010 8:16am
- | Joined May 2009 | Status: Focus + Patience = Pip$ | 1,513 Posts
pull up your W1.
use the rectangle function, highlight between 5380 & 5460 and pull it across your chart as far as the eyes can see. back till early the year 1990s if you have to.
basic supp/res level is a powerful tool most people overlook. Less is always more.
bye. enjoy your weekend
*******************
I'd rather make money than be right.
- #240,759
- Jul 24, 2010 8:18am Jul 24, 2010 8:18am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
i could be wrong but when i saw monthly=weekly=daily..am start thinking of 1.536 could be another reload/some of bear trap overhere...but anythings can happen...
still holding my long from 5181 n lock for 20pips..
cheers
g
great advise i feel
- #240,760
- Jul 24, 2010 9:07am Jul 24, 2010 9:07am
- | Joined May 2009 | Status: Focus + Patience = Pip$ | 1,513 Posts
Interesting when you look at the bigger picture .. the trend is certainly up and from here looks like any retrace shouldn't go deeper than 5300 which is the 61 retracement from Aug 09 high to May 10 low. The 50 retracement would be 1.5620-30 which is also the top of the blue rectangle which loosely defines some S/R areas going back to Oct 08.
On the 4 hour chart, below the daily, a fib from last sw to sh has the 23 retracement at 5180 but to reach that she would have to break way below the ltl (unless she does it right away!)
So .. what do I conclude from all this .. well it's just been a little exercise in drawing lines on the longer term charts & I really don't know what to conclude except .. she will do as she pleases & I will just try to hitch a ride whenever possible. Up, down .. who cares really?
It's good to keep the bigger picture in mind though .. 5300 could be an area to watch on any retrace .. and 5620-30 may be a good place to take profits. If 5300 breaks, 5200-20 needs to hold to maintain the upward trend.
However these numbers don't agree with what some others have written .. so .. in the end, what do I know??
On the 4 hour chart, below the daily, a fib from last sw to sh has the 23 retracement at 5180 but to reach that she would have to break way below the ltl (unless she does it right away!)
So .. what do I conclude from all this .. well it's just been a little exercise in drawing lines on the longer term charts & I really don't know what to conclude except .. she will do as she pleases & I will just try to hitch a ride whenever possible. Up, down .. who cares really?
It's good to keep the bigger picture in mind though .. 5300 could be an area to watch on any retrace .. and 5620-30 may be a good place to take profits. If 5300 breaks, 5200-20 needs to hold to maintain the upward trend.
However these numbers don't agree with what some others have written .. so .. in the end, what do I know??
*******************
I'd rather make money than be right.