Cable Update (GBPUSD)
possible end of wave 4, 5 wave sceneario still valid, bullish outlook supported by long pinoccio, possible TP is 1.635 or higher
less likely but possible: a fake pinoccio following a huge selloff below 1.606 tomorrow which would invalidate the 5 wave sequence
i think it will go down to 1.6 or at least test the bottom of today..weekly chart in play..if i said what u thought despite being long id be lying too all
i just hope im wrong again..lol
i think it will go down to 1.6 or at least test the bottom of today..weekly chart in play..if i said what u thought despite being long id be lying too all
i just hope im wrong again..lol
I tend to agree with you based on daily momentum, I hope it comes back down. It reversed in my sleep so if it is going up longer term, Ive missed the train
i think it will go down to 1.6 or at least test the bottom of today..weekly chart in play..if i said what u thought despite being long id be lying too all
i just hope im wrong again..lol
i think it will go down to 1.6 or at least test the bottom of today..weekly chart in play..if i said what u thought despite being long id be lying too all
i just hope im wrong again..lol
it's ok to miss the train mate.. rather than in the wrong train.. lol.
yes, the problem is, the GU is my ONLY train 
From my own perspective, the selling pressure from 63 has been quite lethargic and has been met with consistent bullish pressure. This is highlighted by a total of only 150 pips sell off last week, and 90 or so pips (at lowest point) first 3 days of this week. We are also sitting above strong support. This is why I remain bullish for the time being targeting 6335 area at 61.8 fib. If we get a convincing close below 6050 then 6000, then my view will be reassessed
i think that's a very good analysis.. the price is the same as mine.. here's my chart.. see we back above the 38 fibo and 6050 is the 50 fibo..
, can I ask one question. How come you start fib tool below the swing low rather than a little higher up at the candle low price?
Thanks Specs
From my own perspective, the selling pressure from 63 has been quite lethargic and has been met with consistent bullish pressure. This is highlighted by a total of only 150 pips sell off last week, and 90 or so pips (at lowest point) first 3 days of this week. We are also sitting above strong support. This is why I remain bullish for the time being targeting 6335 area at 61.8 fib. If we get a convincing close below 6050 then 6000, then my view will be reassessed
I have read through the past 10 or so posts......has nobody heard the news that came out of Spain during late market hours?
Does that not influence you at all?
Or are we all tech traders with no regard to fundies?
Just wondering as I sit here all alone.....
but price action reflects sentiment. Maybe Europe is seen as something that MUST be saved at all cost to avoid an economic dominoe catastrophe and investors know it, who knows. I'm jabbing at you when I say this, but you made a good comment last year when you were bullish, when you asked the question "will they really let Europe fall?". I remember saying, WW1 was supposed to end all wars, meaning we never know the future and maybe Europe will collapse, since I was very, very bearish last year before we bottomed out. (I just realised our perdpectives are reversed). Maybe with all the money printing going on, Gold will be a preferred safe haven. Hard to tell bro, but we are kind of in a fake economy right now filled with tons of extra emergency money, so things and get out of wack completely. That's my take on it anyway I know what you mean, I really do. It makes little sense at all. I have my own fundie outlook which I won't tire anyone with again
