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Cable Update (GBPUSD)

  • #422,801
  • Edited 9:17am Jan 29, 2016 8:42am | Edited 9:17am
Quoting TheFxAnalyst
{quote} I like that call. At that level my cyclical analysis will probably be bullish again.
Yes, don't like trading in the middle of corrections because it's too unpredictable, while I've better ideas how & where they usually terminate & that's where the next trending move starts.
Elliott Wave for optimum entry, exit and risk management of trades
  • #422,802
  • Jan 29, 2016 9:12am Jan 29, 2016 9:12am
skyhok, can you zoom out a bit for me? I have something similar, but I was calling a 4th wave over before it pealed short. The move short is the start of a 5th to take us to deep new lows.

It appears you labeled b short and are working on a 1,2,3,4,5 c wave long. Is that to end an overall larger 4th and then move short for a 5th?
  • #422,803
  • Jan 29, 2016 9:18am Jan 29, 2016 9:18am
Time to start buying
Winning until I'm not
  • #422,804
  • Jan 29, 2016 9:34am Jan 29, 2016 9:34am
Quoting notsocasual
skyhok, can you zoom out a bit for me? I have something similar, but I was calling a 4th wave over before it pealed short. The move short is the start of a 5th to take us to deep new lows. It appears you labeled b short and are working on a 1,2,3,4,5 c wave long. Is that to end an overall larger 4th and then move short for a 5th?
Longer term charts tend to make some others uneasy especially the projected prediction part. Let's give it another try.
The drop from June 2015 top is more like an (a)-(b)-(c) corrective decline till 21st January, and looking at an impulse wave (C) advance to complete the larger correction (4).
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 29Jan16.png Size: 70 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #422,805
  • Jan 29, 2016 9:36am Jan 29, 2016 9:36am
Quoting skyhok
{quote} Buy limit position @ 1.4187 {image}
could be too early but looked nice to me
Attached Image (click to enlarge)
Click to Enlarge Name: like_it.jpg Size: 473 KB
  • #422,806
  • Jan 29, 2016 9:37am Jan 29, 2016 9:37am
1.42, are we bottomed for today?
  • #422,807
  • Jan 29, 2016 9:39am Jan 29, 2016 9:39am
Quoting skyhok
{quote} Longer term charts tend to make some others uneasy especially the projected prediction part. Let's give it another try. The drop from June 2015 top is more like an (a)-(b)-(c) corrective decline till 21st January, and looking at an impulse wave (C) advance to complete the larger correction (4). {image}
This scenario fits into many's predicts that dollar maybe topped out for mid-term.
  • #422,808
  • Jan 29, 2016 9:41am Jan 29, 2016 9:41am
Quoting Squiggles
{quote} could be too early but looked nice to me {image}
quite a sharp knife
  • #422,809
  • Jan 29, 2016 9:49am Jan 29, 2016 9:49am
Quoting elbert3
{quote} got binned on the last one -11 in again now 4249,sl on the bottom and thats me off see you at 4400
I am taking long again from 1.42, see the move being a bit stretched.
  • #422,810
  • Jan 29, 2016 9:53am Jan 29, 2016 9:53am
Quoting Darkforce
{quote} This scenario fits into many's predicts that dollar maybe topped out for mid-term.
Interesting correlation bet. GBPUSD & dollar, looking at dollar coming off an ending diagonal or rising wedge .....soon.
Attached Image (click to enlarge)
Click to Enlarge Name: USDOLLARDaily 29Jan16.png Size: 38 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #422,811
  • Jan 29, 2016 9:55am Jan 29, 2016 9:55am
Quoting skyhok
{quote} Interesting correlation bet. GBPUSD & dollar, looking at dollar coming off an ending diagonal or rising wedge .....soon. {image}
  • #422,812
  • Jan 29, 2016 9:59am Jan 29, 2016 9:59am
Cable is the difficult pair to trade this week. I admit that I lost more than I made, like being slapped face from both side.

Hope it gets better next week.
Attached Image
  • #422,813
  • Jan 29, 2016 9:59am Jan 29, 2016 9:59am
Quoting skyhok
{quote} Buy limit position @ 1.4187 {image}
Why 1.4187? What's your SL?
  • #422,814
  • Jan 29, 2016 10:12am Jan 29, 2016 10:12am
What happening to this pair? Any bad news?? keep dropping like a crazy cow
  • #422,815
  • Jan 29, 2016 10:13am Jan 29, 2016 10:13am
Quoting Gold Miner
What happening to this pair? Any bad news??
I guess BOJ easing makes everybody guess who's next, it is a currency war.
  • #422,816
  • Jan 29, 2016 10:16am Jan 29, 2016 10:16am
two fails at knife catching well +2 & +15
3rd time lucky ? not going to try looks a bit too fishy
Attached Image (click to enlarge)
Click to Enlarge Name: try.jpg Size: 435 KB
  • #422,817
  • Jan 29, 2016 10:18am Jan 29, 2016 10:18am
Quoting Darkforce
{quote} I guess BOJ easing makes everybody guess who's next, it is a currency war.
i just got this: http://money.cnn.com/2016/01/28/inve...xit/index.html
  • #422,818
  • Jan 29, 2016 10:32am Jan 29, 2016 10:32am
Quoting Gold Miner
{quote} i just got this: http://money.cnn.com/2016/01/28/inve...xit/index.html
CNN money?! Mate that's not very useful for us day traders
  • #422,819
  • Jan 29, 2016 10:33am Jan 29, 2016 10:33am
Quoting Darkforce
{quote} CNN money?! Mate that's not very useful for us day traders
End of the month too for squaring up accounts and closing positions
  • #422,820
  • Jan 29, 2016 10:36am Jan 29, 2016 10:36am
Quoting Darkforce
{quote} CNN money?! Mate that's not very useful for us day traders
the news is only useful to the people who own it
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