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Cable Update (GBPUSD)

  • #408,601
  • Feb 15, 2015 5:28am Feb 15, 2015 5:28am
I think a few things are lining up to ultimately retest the broken monthly channel, 38.2 fib, brown weekly 55ema and blue daily 200ema at 1.58 in May.

But it's going to be yo yo action before we get there
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPUSDDaily.png Size: 39 KB
Come with me if you want to live....
  • #408,602
  • Feb 15, 2015 6:17am Feb 15, 2015 6:17am
Quoting elbert3
{quote} {image} same but with a retrace,, if you look at the highs little ups and downs the down and makes one of Mr Scotts charts , what do you think
support in my mind is blue , but i more interest with green than blue

Attached Image (click to enlarge)
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  • #408,603
  • Feb 15, 2015 6:31am Feb 15, 2015 6:31am
I'm with elbert3 and jasakreatif. We gonna see a little correction downside then up again.

Attached Image (click to enlarge)
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  • #408,604
  • Feb 15, 2015 7:08am Feb 15, 2015 7:08am
does anyone use EW for its own trades? i see a 5 wave just closed at 15420 and now a sharp retrace at least for 14950 in around a month or so
  • #408,605
  • Feb 15, 2015 7:21am Feb 15, 2015 7:21am
Quoting elbert3
{quote} Hi Fontu.. corresponding weekly chart possible high and low points {image}
yes in wkly & daily as still on supports or easy get all at this bottom but if you see monthly close ,candle already close below a TL & should very difficult to recover & this month & next will important for this try\correct up.so by that time price may try \hit \break levels at top or crush further as were all time in the down leg> continue further down to last not least 4812 or 4228 or even 3501 any.
Take care
fontu
Attached Image (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #408,606
  • Feb 15, 2015 7:48am Feb 15, 2015 7:48am
I'm wating swing moment from started fall because in my old account ( thanks Alpari doing a bankrup and destroying 6 months fighting against my mistakes and big DD ), i needed price up for close bad operations ( never happened ). I don't know if we starting real swing ( i think this is other bull-trap ), but if this is THE MOMENT for change trend i hope learn much things about "how read signals to know swing main trend is comming" For me last lesson needed for starting to be a succesful trader.
Try don't lose pants never...
  • #408,607
  • Edited 9:40am Feb 15, 2015 9:26am | Edited 9:40am
gbp jpy is also piercing line at this time ,off tl pivot ,retest break
above immediate monthly support ,against daily res
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #408,608
  • Feb 15, 2015 10:33am Feb 15, 2015 10:33am
Wave counts on every other GBP pairs (including GBPCHF) are poised for the downside. Now waiting n' watching out for GBPUSD's downside.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHFH1 16Feb15.png Size: 33 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #408,609
  • Feb 15, 2015 10:44am Feb 15, 2015 10:44am
Quoting skyhok
Wave counts on every other GBP pairs (including GBPCHF) are poised for the downside. Now waiting n' watching out for GBPUSD's downside. {image}
what do you think about wave count for gbpusd? i already have wave 5 and i had the highest at 15447 but i see a nice shooting star rejected at 15420 after us data on friday. i think it is going to fall
  • #408,610
  • Feb 15, 2015 11:06am Feb 15, 2015 11:06am
Quoting danndc
{quote} what do you think about wave count for gbpusd? i already have wave 5 and i had the highest at 15447 but i see a nice shooting star rejected at 15420 after us data on friday. i think it is going to fall
Posted one last Friday I think it till hold:
http://www.forexfactory.com/showthre...61#post8067261
While there's the gap to be filled:
http://www.forexfactory.com/showthre...78#post8069478
Elliott Wave for optimum entry, exit and risk management of trades
  • #408,611
  • Feb 15, 2015 11:43am Feb 15, 2015 11:43am
theres no shooting star

Quoting danndc
{quote} what do you think about wave count for gbpusd? i already have wave 5 and i had the highest at 15447 but i see a nice shooting star rejected at 15420 after us data on friday. i think it is going to fall
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #408,612
  • Feb 15, 2015 11:53am Feb 15, 2015 11:53am
BOE is going to increase rate, rumor started before market open, i think its trick news to hold GBP in current position

http://www.forexfactory.com/news.php?do=news&id=526650
  • #408,613
  • Feb 15, 2015 12:00pm Feb 15, 2015 12:00pm
Quoting danndc
does anyone use EW for its own trades? i see a 5 wave just closed at 15420 and now a sharp retrace at least for 14950 in around a month or so
EW is extremely subjective and that reason alone makes it useless for me. However, it was the first thing that I studied extensively when I began trading 11 years ago, and it is a useful tool for getting a trader to focus on price action.

See these counts I'm posting (just a few possibilities, not all). I did this to show you what I mean. How can EW be good for forecasting when there are so many possibilities? Of course it always will make sense after the fact. But even then, some wave patterns will have you scratching your head when trying to come up with a reasonable count.
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  • #408,614
  • Feb 15, 2015 12:04pm Feb 15, 2015 12:04pm
shooting star would have long upper wick ,
Attached Image (click to enlarge)
Click to Enlarge Name: gbp USD d1 (DFB).png Size: 30 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #408,615
  • Feb 15, 2015 12:44pm Feb 15, 2015 12:44pm
Quoting GrowthHack
BOE is going to increase rate, rumor started before market open, i think its trick news to hold GBP in current position http://www.forexfactory.com/news.php?do=news&id=526650
They said there is risk to both sides and they will watch the data first before deciding whether a hike or cut is necessary.

Ps: nice return
  • #408,616
  • Feb 15, 2015 1:31pm Feb 15, 2015 1:31pm
Quoting Zappa
{quote} EW is extremely subjective and that reason alone makes it useless for me. However, it was the first thing that I studied extensively when I began trading 11 years ago, and it is a useful tool for getting a trader to focus on price action. See these counts I'm posting (just a few possibilities, not all). I did this to show you what I mean. How can EW be good for forecasting when there are so many possibilities? Of course it always will make sense after the fact. But even then, some wave patterns will have you scratching your head when trying...
this is the one i am looking at
http://www.forexfactory.com/attachme...5&d=1424023182
  • #408,617
  • Feb 15, 2015 1:57pm Feb 15, 2015 1:57pm
Quoting pbylina
{quote} They said there is risk to both sides and they will watch the data first before deciding whether a hike or cut is necessary. Ps: nice return
that's true, if you read the news they say they will hike even if the inflation falls, how can they do it? i think they know that next CPI outcome will be very ugly and they are kepping talking just to give fuel to it

up or down?
  • #408,618
  • Feb 15, 2015 3:48pm Feb 15, 2015 3:48pm
Quoting danndc
{quote} that's true, if you read the news they say they will hike even if the inflation falls, how can they do it? i think they know that next CPI outcome will be very ugly and they are kepping talking just to give fuel to it up or down?
They are full of shit. They said last year they gonna hike and never happened. They use contradicting statements: "Negative interest rates are possible “but we don’t think they are likely at the moment,” which means they are lying.
  • #408,619
  • Feb 15, 2015 4:11pm Feb 15, 2015 4:11pm
Quoting pbylina
{quote} They are full of shit. They said last year they gonna hike and never happened. They use contradicting statements: "Negative interest rates are possible but we dont think they are likely at the moment, which means they are lying.
the best lie is, low inflation even below zero and rate hike? this is a joke

and i think that market will understand that they are talking talking talking and nothing else
  • #408,620
  • Feb 15, 2015 6:24pm Feb 15, 2015 6:24pm
Quoting danndc
{quote} the best lie is, low inflation even below zero and rate hike? this is a joke and i think that market will understand that they are talking talking talking and nothing else
Im gonna short some GBP.
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