But, throughout this current move there have been
multiple pullbacks meeting the 50 fib, until now.
But....
Dr. D.
multiple pullbacks meeting the 50 fib, until now.
But....
Dr. D.
Attached Image
Cable Update - Continued 102 replies
Cable (GBPUSD) vs Euro (EURUSD) 31 replies
Cable Update (GBP/USD) without Idiots 23 replies
Why is GBPUSD called cable? 66 replies
cable short for gbpusd? 6 replies
DislikedThis guy is the BIGGEST IDIOT on FF. He Flip Flops more then any politician on the planet & it says it all. Next week when we tank he will tell everyone he told you so 4 weeks ago! Tell him this is wave 5. He has his Tinfoil hat volume like he is connected to all the banks in the world & Blocks anyone from commenting on his forum he doesnt agree with. He is a Dictator not A TRADER!Ignored
Dislikedas for my comment could go to 6500 ..a little wrong , 6300 is 78.6.
There is a ton of overhead resistance right now and even if gu is going higher this supply will make gu very choppy on the way up with sudden drops in low liquidity and frankie fake outs.
A breakout of es 1115 are will take it to 1150 to 1180 , and that alone may take gu into 6300 zone.
However it is not going to be in a straight line. and could fail at weekly r 1.5700 to 1.5850
AttachmentIgnored
DislikedShort from 1.57
Cable is at The top side of a 4h big channel, can't post The pic now cause i'm posting with my iPhoneIgnored
DislikedShort from 1.57
Cable is at The top side of a 4h big channel, can't post The pic now cause i'm posting with my iPhoneIgnored
Dislikedwhy do you think so?
I'm waiting 1.585 (near) course of fibo on W1 61.8
Ignored
Dislikedas for my comment could go to 6500 ..a little wrong , 6300 is 78.6.
There is a ton of overhead resistance right now and even if gu is going higher this supply will make gu very choppy on the way up with sudden drops in low liquidity and frankie fake outs.
A breakout of es 1115 are will take it to 1150 to 1180 , and that alone may take gu into 6300 zone.
However it is not going to be in a straight line. and could fail at weekly r 1.5700 to 1.5850Ignored
DislikedBut, Cloggie what happened here?
Here's a move that plummeted to 6,047 pips over a 6 mo
period back in '92. (9/01/92 2.0010 - 2/01/93 1.4063)
It took nearly 4 yrs to reach a 50 fibo retrace. (12/01/96).
Dr. D.Ignored
DislikedThe 50 fib on Cable is the momentum fib, once it goes, it will keep going. So looking at 92 another way, once 1.8031 went the road was clear to 1.3873, which it reached. And yes it did take till sep 96 to get the 50 back on the downmove, which it reached almost perfectly. A 4 year 50 retrace move on the monthly chart was only 44 bars, which if you scale it down to the hourly or H4 for a similar play is not bad at all. And it did test the 61.8 1.6195 perfectly in oct 94 and feb-jun 95. That 61.8 did form a nice resistance which only took a few bars...Ignored
Dislikedhey bro great analysis thanks! really weird as Ive just spent the evening reading about good ol leonardo!!
just a quick one - when you say 161.8 you talking about fib extensions? do you often use this and 127 as possible exit or take profit points?
thanksIgnored
DislikedLeonardo worked for the guys who started FX, go figure. As to targets, I trade differently as a day trader, more of an "if, then if" so while I am in a trade I will always look for reasons to stay in, not for reasons to get out, so fib extensions are part of that and I judge the PA around them as reason to stay in.Ignored
DislikedHi all, well my trading sucks in general but what my charts indicate is that this is going to tank from the open. UK aint going that flash, and maybe this move was just to get things back to fair value.Ignored