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Help Me Establish The GbpUsd After Dinner Club 40 replies

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The Club!

  • #5,601
  • Aug 22, 2013 10:13am Aug 22, 2013 10:13am
Euro. Again loss resistance. No solution. Wait for the cable, maybe.

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"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #5,602
  • Aug 22, 2013 10:14am Aug 22, 2013 10:14am
Be careful... seem it will break H1 last top - 3450
  • #5,603
  • Aug 22, 2013 10:41am Aug 22, 2013 10:41am
Quoting andexQ
Strange.. !!! According mine, EU is about to goes up... can someone gives me nearest S/R for H1 chart please.
dp is at 3367. Should hold this late in the day, but with very thin liquidity, you never know.
Those who say it cannot be done should not interrupt those who are doing it
  • #5,604
  • Aug 22, 2013 10:43am Aug 22, 2013 10:43am
Quoting Ambar
{quote} żdoes the invalidation before of 3325 as a top, invalidate for you the 3280-90 last wave down?
Yes, we have just completed an abc up to daily pivot 3367
Now we should go down for new impulse... hopefully all the way to 1.320x
EDIT: Sorry.. I meant 1.3225
Those who say it cannot be done should not interrupt those who are doing it
  • #5,605
  • Aug 22, 2013 10:47am Aug 22, 2013 10:47am
so down to 1.3300 was 5 wave ?
  • #5,606
  • Aug 22, 2013 10:51am Aug 22, 2013 10:51am
Quoting Mad Russian
so down to 1.3300 was 5 wave ?
Either it was wave 5 of 3. The abc up is wave 4 and now we do wave 5 down

Or

It was 5 of 5. The abc up is consolidation and now new 5 wave impulse down

Or

it was 5 of 5, the abc up is the first part of a complex correction and we go on till tomorrow making abc x abc x abc for a triple zig zag or a flat.

I don't know which one it will be, but those are all the possibilities I can see at this point.

Either way, eventually down, so shorting the top of the correction is probably a safe bet for now.

take note I am stiull an amatuer with EW corrections, so please do not count on my count LOL
Those who say it cannot be done should not interrupt those who are doing it
  • #5,607
  • Aug 22, 2013 10:56am Aug 22, 2013 10:56am
Quoting PipTrapper
{quote} dp is at 3367. Should hold this late in the day, but with very thin liquidity, you never know.
Thanks Pip.
I'm not good for S/R.. lol
  • #5,608
  • Aug 22, 2013 10:56am Aug 22, 2013 10:56am
Hey huys...what scenario did you like more??
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  • #5,609
  • Aug 22, 2013 10:56am Aug 22, 2013 10:56am
or this
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  • #5,610
  • Aug 22, 2013 10:57am Aug 22, 2013 10:57am
Quoting PipTrapper
{quote} Either it was wave 5 of 3. The abc up is wave 4 and now we do wave 5 down Or It was 5 of 5. The abc up is consolidation and now new 5 wave impulse down Or it was 5 of 5, the abc up is the first part of a complex correction and we go on till tomorrow making abc x abc x abc for a triple zig zag or a flat. I don't know which one it will be, but those are all the possibilities I can see at this point. Either way, eventually down, so shorting the top of the correction is probably a safe bet for now. take note I am stiull an amatuer with EW corrections,...
One thing for sure. We are still below 38.2% of yesterday's hi/lo range which is a nice bearish sign... for now.
Those who say it cannot be done should not interrupt those who are doing it
  • #5,611
  • Aug 22, 2013 10:58am Aug 22, 2013 10:58am
Quoting Afarensis
Hey huys...what scenario did you like more?? {image}
Quoting Afarensis
or this {image}
I take door #1 please.
Those who say it cannot be done should not interrupt those who are doing it
  • #5,612
  • Aug 22, 2013 11:07am Aug 22, 2013 11:07am
Maybe is turning bullish, but the big trend is very bearish for me
  • #5,613
  • Aug 22, 2013 11:12am Aug 22, 2013 11:12am
Quoting Afarensis
Maybe is turning bullish
Yes it could be because it has bounced off the rising wedge support, but it does not mean it will keep going to the wedge resistance. Note that it failed to make it to wedge resistance on last push higher. So that tells me wedge is done. Now just has to break support.
Attached Image (click to enlarge)
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I think we will finish the correction and head down for wave 1 of new impulse.

like this...
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_03 Aug. 22 10.55.gif Size: 29 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #5,614
  • Aug 22, 2013 11:14am Aug 22, 2013 11:14am
is that was here last touch ??
  • #5,615
  • Aug 22, 2013 11:15am Aug 22, 2013 11:15am
Quoting Afarensis
Maybe is turning bullish, but the big trend is very bearish for me
pivot: 1.337x

don't be a stubborn bull please,
go down.
  • #5,616
  • Aug 22, 2013 11:16am Aug 22, 2013 11:16am
Quoting PipTrapper
{quote} Yes it could be because it has bounced off the rising wedge support, but it does not mean it will keep going to the wedge resistance. Note that it failed to make it to wedge resistance on last push higher. So that tells me wedge is done. Now just has to break support. {image} I think we will finish the correction and head down for wave 1 of new impulse. like this... {image}
Good...nice variation
  • #5,617
  • Aug 22, 2013 11:24am Aug 22, 2013 11:24am
Quoting Afarensis
{quote} Good...nice variation
Here is another alternative from danko316.
LOL Get 100 Ellioticians in one room and you end up with 300 different counts

http://www.forexfactory.com/showthre...17#post6912617
Those who say it cannot be done should not interrupt those who are doing it
  • #5,618
  • Aug 22, 2013 11:29am Aug 22, 2013 11:29am
Important level, I think, after 30 minutes is 3363. Support or resistance? Expect to close around 3370.
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #5,619
  • Aug 22, 2013 11:41am Aug 22, 2013 11:41am
short 1/10 at 1.3368 (E/U)
Target unknown. I want this as a long term short.
Stop loss will be if 3370 is broken and confirmed
Those who say it cannot be done should not interrupt those who are doing it
  • #5,620
  • Aug 22, 2013 11:58am Aug 22, 2013 11:58am
Quoting PipTrapper
short 1/10 at 1.3368 (E/U) Target unknown. I want this as a long term short. Stop loss will be if 3370 is broken and confirmed
Good entry
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