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Cable Update (GBPUSD)

  • #426,781
  • Mar 25, 2016 10:44am Mar 25, 2016 10:44am
ok let's speak on charts.

on weekly EURGBP shows a S&R reversal,
so 0.78 resistance became a support for the clear bull trend...
(which also invalidates the bearish trend you mention)

we are on the last week of march:
march 1
april 4
may 4

until BREXIT referendum is voted, we should see ~10 more weeks. (you can always argue that BREXIT is already priced in etc.)

I see 0.82 before any reversal.
what you call "top" is at 0.98...
(I don't know about anything called "top"; I know about "price floor" / "price ceiling")

around 0.81 - 0.83 a "price ceiling" + "resistance" will be formed.

theory craft reversals are not my thing, I trade PA...
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  • #426,782
  • Mar 25, 2016 11:38am Mar 25, 2016 11:38am
eur gbp is uptrend w1 ,downtrend monthly ,but this month hasn't done much for the bulls ,even tho positive its at a high res zone ,and within last month at the mo
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #426,783
  • Mar 25, 2016 11:46am Mar 25, 2016 11:46am


An old man Cleaning a dusty attic found a antique crystal ball, it was heavy and dirty. While cleaning the haze from the glass He noticed a movement in the reflection over his left shoulder. He quickly jumped rightward. That reflection was a propped up canoe directly behind him that began to fall.

Whats already become or hindsight gives simply a reflective speculation of what "can" happen moving forward. Our experiences collectively both good and bad color the ability to navigate momentum. Value moves about the herd.

Its a holiday weekend, the CME is closed. The spot monies are drifting about. My guess here is that the pound will get a retouch of 1.4200 not today! probably Sunday night EST. But then again the 1.4100 rug is closer despite the cravings for a subtle climb.
"Look Left Think Right"
  • #426,784
  • Mar 25, 2016 4:35pm Mar 25, 2016 4:35pm
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Come with me if you want to live....
  • #426,785
  • Mar 25, 2016 4:35pm Mar 25, 2016 4:35pm
Elbert would be proud
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Come with me if you want to live....
  • #426,786
  • Mar 26, 2016 3:22am Mar 26, 2016 3:22am
GA has another 400+ pips to next fib/support and much further before the blue retest
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Come with me if you want to live....
  • #426,787
  • Mar 26, 2016 6:07am Mar 26, 2016 6:07am
Friends!
On Monday what about the GBPUSD?
One Day U Will Miss me!
  • #426,788
  • Mar 26, 2016 6:12am Mar 26, 2016 6:12am
monday is still easters holiday,
tuesday there is news+data release
wednesday NFP
  • #426,789
  • Mar 26, 2016 6:13am Mar 26, 2016 6:13am
Quoting Ill-b-back
Elbert would be proud {image}
I still target 1.408 TP
  • #426,790
  • Mar 26, 2016 6:16am Mar 26, 2016 6:16am
Quoting Bones
eur gbp is uptrend w1 ,downtrend monthly ,but this month hasn't done much for the bulls ,even tho positive its at a high res zone ,and within last month at the mo {image} {image}
I don't trade current candle, as there is another week to go.

we have heavy news / data release this week so that monthly downtrend can change as we have +1 W.

fundamentals also show more uptrend, 0.808 should decide it.
  • #426,791
  • Mar 26, 2016 6:51am Mar 26, 2016 6:51am
Quoting openyoureyes
{quote} fundamentals also show more uptrend
Yeah, ok that's some solid analysis. Also I like charts with random lines and MAs crossovers - really adds more confidence.

Here's the current EW count on H4 EUR GBP. Minor pushback expected now than we should test 8000 area and then reverse for 7800.
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  • #426,792
  • Mar 26, 2016 7:39am Mar 26, 2016 7:39am
Quoting openyoureyes
monday is still easters holiday, tuesday there is news+data release wednesday NFP
NFP is usually released first Friday of the month. April is no different.
  • #426,793
  • Mar 26, 2016 7:54am Mar 26, 2016 7:54am
yes, my bad.

I'm sorry: it is ADP NF unemployment for USD that is on wednesday...
  • #426,794
  • Mar 26, 2016 8:11am Mar 26, 2016 8:11am
Quoting openyoureyes
{quote} I still target 1.408 TP
i closed out some of my better priced shorts for profit before market close yesterday, leaving the rest open for 39ish and others targetting below the Feb low. Not ruling out another TL retest around 1.42 next week first though as the weekly looks a stretched candle (whatever that means lol)
Come with me if you want to live....
  • #426,795
  • Mar 26, 2016 2:49pm Mar 26, 2016 2:49pm
#GBP/USD 4h TF Possible scenario : Bullish Shark Harmonic Pattern to Bearish 5-0 Harmonic Pattern
http://www.yourfxguide.com/2015/01/t...l#.VvbmkCHPyPo
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  • #426,796
  • Mar 26, 2016 3:30pm Mar 26, 2016 3:30pm
Quoting andan
#GBP/USD 4h TF Possible scenario : Bullish Shark Harmonic Pattern to Bearish 5-0 Harmonic Pattern http://www.yourfxguide.com/2015/01/t...l#.VvbmkCHPyPo {image}
nicely spotted, also got this on radar, although it's not a shark but a bullish cypher. )))

PS: also it won't be that easy on GU next week.
  • #426,797
  • Mar 26, 2016 4:23pm Mar 26, 2016 4:23pm
The medium term Elliott wave count views cable in a large C wave downward trend.
The action over the last few months is the start of the 3rd wave down of 5 overall waves.
Cable should keep moving lower and may pick up speed in the coming weeks ahead as wave 3 takes hold.
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HumbleTraders
  • #426,798
  • Mar 26, 2016 4:40pm Mar 26, 2016 4:40pm
Quoting gfscapital
The medium term Elliott wave count views cable in a large C wave downward trend. The action over the last few months is the start of the 3rd wave down of 5 overall waves. Cable should keep moving lower and may pick up speed in the coming weeks ahead as wave 3 takes hold. {image}
Hello.

I'm interested in your wave count. Could you zoom out and post your view from a different point? This is what I see, and since our analysis disagree I'd like to discuss why.
I'm expecting an uptrend to finish a long term WXY correction.

Thank you very much.
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  • #426,799
  • Mar 26, 2016 7:29pm Mar 26, 2016 7:29pm
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here is the larger count that were considering,
based on a simple three wave correction off the 2007 high.
two reasons its the preferred count for us right now
1. clear eur/usd count pointing to a strong dollar
2. simplicity first for me!

the nice thing about the price range were in right now is
that if the price dips below the 2009 low then it
weights the probability in favour of the large C wave down rather than
the interpretation you are working on.

in the end none of us know the future,
especially not me.
right now your view is as valid as ours until the future actually happens!

I wish you well.
  • #426,800
  • Mar 27, 2016 1:34am Mar 27, 2016 1:34am
this is bullcrap guys, you obviously got zero knowledge of EW, GU/EU don't move in 5 wave impulse structures on larger time frames, so good luck trading this setup.
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