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Cable Update (GBPUSD)

  • #411,041
  • Edited 5:06am Mar 7, 2015 2:46am | Edited 5:06am
GBPUSD long term chart updates:
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 7Mar15-page-0.jpg Size: 549 KB

Since January 2009, this pair has been forming a flat correction (4) with a very complex and time consuming wave (b).
Present wave c decline since July 2014 top may terminate :
1. below 1.4190, or
2. even further down under Jan 2009 low, for a larger irregular flat correction (4).
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDWeekly 7Mar15.png Size: 48 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #411,042
  • Mar 7, 2015 6:39am Mar 7, 2015 6:39am
Quoting sam69
{quote} short 5409... {image}
expecting a bounce in region 5004/4923...
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Money is made by sitting, not trading. Jesse L. Livermore
  • #411,043
  • Mar 7, 2015 6:48am Mar 7, 2015 6:48am
Quoting Zappa
Gotta admit I'm a little confused down here. Entertaining the possibility that we are in process of a big drop. {image}
yes, similar thinking...if this up move to 5550 region (S/R on my chart 5571) was a corrective one, then it could fall further, but if it makes a double bottom on weekly, then should bounce next week...
Money is made by sitting, not trading. Jesse L. Livermore
  • #411,044
  • Mar 7, 2015 6:55am Mar 7, 2015 6:55am
Quoting Kajos2250
{quote} GU H8 GMT+2 Nice sell off! There was not retrace to load more short. Broken bearish TL on the daily under testing, the bulls price is aproaching because of the perfect RR on the long side. Waiting for the first long signal to revers order... Good luck! {image}
same here...
Money is made by sitting, not trading. Jesse L. Livermore
  • #411,045
  • Mar 7, 2015 7:46am Mar 7, 2015 7:46am
Quoting edyraper
next month 1.49 possible target , looking for short positions around 1.55 !
yes , I wrote here the down trend is not end yet , let's see where does it will go then , I stay short on all pairs , mean I will hold only USD , and sell eur , gbp , chf , jpy , aud , cad , try . easy trade yep
I lost 1.400 pips on GBPUSD last month which positions that would be green this month but doesnt matter will short GBP for 1.400 pips let see 1.4910 if break blow , then i will say ~ 1.42 is possible , and i believe break blow 1.50 would be start an agresive down trend , see you guys dwon stairs this month
  • #411,046
  • Mar 7, 2015 10:15am Mar 7, 2015 10:15am
Quoting elbert3
{quote} waiting to go too, wine time sooooon 5030 quick or more in 15 mins ..lol
The above number was a 61% move on a s/r play, could be , 1 double bottom on this 1 hour ,, 50/50 ?
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on this day possible 1,2 or 3 ,as week look at the weekly you will see the further s/r from the past, if the bounce fails at 5030 then the double bottom on that low on the day
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the week and month corresponds with the above possibility
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a bounce on the 5030 could give the start to longs,, thats me gl see sunday
  • #411,047
  • Mar 7, 2015 10:35am Mar 7, 2015 10:35am
Quoting skyhok
GBPUSD long term chart updates: {image} Since January 2009, this pair has been forming a flat correction (4) with a very complex and time consuming wave (b). Present wave c decline since July 2014 top may terminate : 1. below 1.4190, or 2. even further down under Jan 2009 low, for a larger irregular flat correction (4). {image}
strange that your 4 is at 1820 which i have posted a number of times , neck on the line here ,, i cant see gb going to 1.35, no chance,, gb is one of the strongest economy's that has come out of the crash,, i still cannot understand the fall , eur has a lot to do with the down fall . but the last 2 day candles are the biggest since 2010 circa 234 pips and december 269 give or take a few as i have took the readings with out being to accurate.
  • #411,048
  • Mar 7, 2015 11:22am Mar 7, 2015 11:22am
http://www.fxstreet.com/economic-calendar/ the nfp number yes up, but earnings down, i think if you read into more of the numbers it might not look as good as first thought ???
  • #411,049
  • Edited 11:45am Mar 7, 2015 11:30am | Edited 11:45am
Quoting elbert3
{quote} strange that your 4 is at 1820 which i have posted a number of times , neck on the line here ,, i cant see gb going to 1.35, no chance,, gb is one of the strongest economy's that has come out of the crash,, i still cannot understand the fall , eur has a lot to do with the down fall . but the last 2 day candles are the biggest since 2010 circa 234 pips and december 269 give or take a few as i have took the readings with out being to accurate.
Yes, I'm aware of the good UK sentiment you mentioned and I see EURGBP still got a fair way down to travel; while GBPUSD technically is still in middle of a complicated wave (4) in orange color, which alternate with the simple wave (2) above, before the final decline.
Like to see more alternate long term views from anyone.
Elliott Wave for optimum entry, exit and risk management of trades
  • #411,050
  • Mar 7, 2015 11:52am Mar 7, 2015 11:52am
This is my view based on Stochastics.
Attached Image (click to enlarge)
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Per aspera ad astra
  • #411,051
  • Mar 7, 2015 12:38pm Mar 7, 2015 12:38pm
If EUR parity arrive ( people say below parity ) is normal to think GBP will go around 1.41/2. And GBP made first bull month after 7 bars and was very fast filled for bear bar in only 2 days. But EUR have 9 bear bars!!!. And current bar is strong. Easy trades is sell. Buy is too risky even with possible double top bottom.
Try don't lose pants never...
  • #411,052
  • Mar 7, 2015 1:15pm Mar 7, 2015 1:15pm
Quoting elbert3
{quote} strange that your 4 is at 1820 which i have posted a number of times , neck on the line here ,, i cant see gb going to 1.35, no chance,, gb is one of the strongest economy's that has come out of the crash,, i still cannot understand the fall , eur has a lot to do with the down fall . but the last 2 day candles are the biggest since 2010 circa 234 pips and december 269 give or take a few as i have took the readings with out being to accurate.
Anything is math!
  • #411,053
  • Mar 7, 2015 2:21pm Mar 7, 2015 2:21pm
Quoting skyhok
GBPUSD long term chart updates: {image} Since January 2009, this pair has been forming a flat correction (4) with a very complex and time consuming wave (b). Present wave c decline since July 2014 top may terminate : 1. below 1.4190, or 2. even further down under Jan 2009 low, for a larger irregular flat correction (4). {image}


hehehe

basically same view here

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when the wave down reaches below my green C I will simply say, that it is the B-wave of an upwards Flat. And no one of us will be around later to see if right or wrong


hey mate, nice work, keep up the good work
  • #411,054
  • Mar 7, 2015 2:24pm Mar 7, 2015 2:24pm
Quoting skyhok
GBPUSD long term chart updates: {image} Since January 2009, this pair has been forming a flat correction (4) with a very complex and time consuming wave (b). Present wave c decline since July 2014 top may terminate : 1. below 1.4190, or 2. even further down under Jan 2009 low, for a larger irregular flat correction (4). {image}

shorter term absolutely same page
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  • #411,055
  • Mar 7, 2015 2:29pm Mar 7, 2015 2:29pm
I'll be watching PA off the 4hr lines below for signs of a long trade back up to one of the breakout lines
Attached Image (click to enlarge)
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Come with me if you want to live....
  • #411,056
  • Mar 7, 2015 3:20pm Mar 7, 2015 3:20pm
Quoting Ill-b-back
I'll be watching PA off the 4hr lines below for signs of a long trade back up to one of the breakout lines {image}
That is my plan too.
After 2 bearish belt hold on the H8 i hold
After touching again the YPS1 ~1.4984 it can easily turn back to test the YPP ~ 1.6087.
This zone is a very good place to join to the bulls again...

Good luck!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDH8.png Size: 46 KB
Click to Enlarge Name: GBPUSDWeekly.png Size: 47 KB
Anything is math!
  • #411,057
  • Mar 7, 2015 3:21pm Mar 7, 2015 3:21pm
Would not be surprised to see a big gap down, followed by a steep drop this week. Maybe something like the chart.

Sellers are still strong down here, and there is barely a buyer to be seen.

All other major pairs look likely to continue in same direction for time being. This roller coaster could be about to make a big drop!

Will target 1.4350
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  • #411,058
  • Mar 7, 2015 4:50pm Mar 7, 2015 4:50pm
Quoting braintheboss
If EUR parity arrive ( people say below parity ) is normal to think GBP will go around 1.41/2. And GBP made first bull month after 7 bars and was very fast filled for bear bar in only 2 days. But EUR have 9 bear bars!!!. And current bar is strong. Easy trades is sell. Buy is too risky even with possible double top bottom.
My piece of advice, do not compare EU and GU.. they are different animals...Their behaviour is not the same. Maybe the result after months is similar but intraday is not the same... Cable has needed one green month to cross 1,50 ( maybe) Big pullback of 500 points... The pound is not so waek as the Euro. At the moment when USDX will show a litlle weakness the awakening of the pound will be harder than the Euro... ( I think) . Never try to make comparisons with the EU and GU. If so EUR/GBP never nearly will move. When NY opens, you fell similar animals, maybe not the same PIPS. but sometimes during the mornings they are so different...
  • #411,059
  • Mar 7, 2015 10:37pm Mar 7, 2015 10:37pm
Quoting infinitus
{quote} hehehe basically same view here {image} when the wave down reaches below my green C I will simply say, that it is the B-wave of an upwards Flat. And no one of us will be around later to see if right or wrong hey mate, nice work, keep up the good work
Hey! good to see your fine looking charts and the treasure box at The Club!
Elliott Wave for optimum entry, exit and risk management of trades
  • #411,060
  • Mar 7, 2015 10:52pm Mar 7, 2015 10:52pm
Quoting Kajos2250
{quote} That is my plan too. After 2 bearish belt hold on the H8 i hold After touching again the YPS1 ~1.4984 it can easily turn back to test the YPP ~ 1.6087. This zone is a very good place to join to the bulls again... Good luck! {image} {image}
Thanks.

If we retrace to the broken red TL, I will be shorting again
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 40 KB
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