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Cable Update (GBPUSD)

  • #426,801
  • Mar 27, 2016 1:50am Mar 27, 2016 1:50am
Personally I think it has only a slim chance of getting to the bottom of that channel. At the right time, my money will be on an absolute bottom around the 1.19 region
Come with me if you want to live....
  • #426,802
  • Mar 27, 2016 2:15am Mar 27, 2016 2:15am
Quoting Ill-b-back
Personally I think it has only a slim chance of getting to the bottom of that channel. At the right time, my money will be on an absolute bottom around the 1.19 region
1.39 right? I don't see GU much lower than 3900 for the time being.
  • #426,803
  • Mar 27, 2016 2:19am Mar 27, 2016 2:19am
Quoting asgcorp
{quote} 1.39 right? I don't see GU much lower than 3900 for the time being.
I was talking about longer term going to 1.19 just based on fractal structure and fib extension, so purely a possible tech target, so no, not a target for next few months or anything like that
Come with me if you want to live....
  • #426,804
  • Mar 27, 2016 2:27am Mar 27, 2016 2:27am
impulse 5 wave structures on GU/EU and generally in FX can be seen on lower timeframes only, here's the M30 GU. 5 wave impulse down and corrective a/b/c now in the making.
Attached Image (click to enlarge)
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  • #426,805
  • Mar 27, 2016 6:24am Mar 27, 2016 6:24am
Find it interesting that almost none here consider fundemetal aspect of this.Feds don't raise in April this can shoot past 148 easy.Feds do raise in April everything changes.
One can't count waves without considering fundamentals.
Biggest mover of price is caused by central banks actions.One can't trade currencies with only tech in mind.
In trading, you have to be defensive and aggressive at the same time
  • #426,806
  • Mar 27, 2016 8:37am Mar 27, 2016 8:37am
surething fed could move markets, it's just that the probability of april hike is too low still (bloomberg below), also check out 10 year yield it's getting crushed as well as USDX.

Fed is funny also, they are going to hike rates this year, but also "open for review of negative interest rates policy application". That's weird.
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  • #426,807
  • Mar 27, 2016 12:44pm Mar 27, 2016 12:44pm
Quoting bullwaves
{image} 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...
Thank you very much for sharing your view. Since I use MACD for detecting possible reversals using divergences, I'll stick with my analysis but yours look possible too.
Good luck for you too!

Quoting asgcorp
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.
Excuse me, but I'm not showing a 5 wave impulse here. Could you elaborate your reply with a long term GU chart? Thanks in advance.
  • #426,808
  • Mar 27, 2016 1:02pm Mar 27, 2016 1:02pm
I don't have a longer-term review as I don't find it practical. Here's the H4 review to reinforce the above setup.
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  • #426,809
  • Mar 27, 2016 4:18pm Mar 27, 2016 4:18pm
#GBPUSD Large Spec (green line) are selling pound!
Attached Image (click to enlarge)
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"W. D. Gann said that time is the most important factor among all things."
  • #426,810
  • Mar 27, 2016 9:05pm Mar 27, 2016 9:05pm
#GBPUSD Short 1.4136 / SL 1.4172 / C 1.3960 waiting for my target to hit..
Attached Image
"W. D. Gann said that time is the most important factor among all things."
  • #426,811
  • Mar 28, 2016 12:07am Mar 28, 2016 12:07am
looks to me currently we are heading to 1.42xx
Come with me if you want to live....
  • #426,812
  • Mar 28, 2016 12:28am Mar 28, 2016 12:28am
Seems this crappy doesn't wanna fall anymore
Don't give up
  • #426,813
  • Mar 28, 2016 1:14am Mar 28, 2016 1:14am
looking to short this puppy soon and then go long later for 142 ..
  • #426,814
  • Mar 28, 2016 2:08am Mar 28, 2016 2:08am
Quoting dean1star
looking to short this puppy soon and then go long later for 142 ..
I don't see any short at all for now
Don't give up
  • #426,815
  • Mar 28, 2016 2:11am Mar 28, 2016 2:11am
same plan waiting 4214 target
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  • #426,816
  • Mar 28, 2016 2:45am Mar 28, 2016 2:45am
why is that? Short @ or close to 4200 SL 25 TP 4110.
  • #426,817
  • Mar 28, 2016 3:45am Mar 28, 2016 3:45am
Quoting Ill-b-back
looks to me currently we are heading to 1.42xx
I'm for a move up to the 50-day moving average @ 1.4279 but it may stall @ 1.4223.
  • #426,818
  • Mar 28, 2016 3:48am Mar 28, 2016 3:48am
Quoting Jonstaples
{quote} I'm for a move up to the 50-day moving average @ 1.4279 but it may stall @ 1.4223.
that's right. we could get rejected @ WP or we break above we can take on 4280-4320. If we get rejected it's all the way down to 4080 at least.
  • #426,819
  • Mar 28, 2016 4:39am Mar 28, 2016 4:39am
Quoting Jonstaples
{quote} I'm for a move up to the 50-day moving average @ 1.4279 but it may stall @ 1.4223.
I'm thinking 1hr 200ema/4hr 55ema at the TL retest
4208/15

note: 4230 nex poss fib retrace target
Come with me if you want to live....
  • #426,820
  • Mar 28, 2016 5:04am Mar 28, 2016 5:04am
Using ma as S/R this looks like setting a minor uptrend and like the above post favour to stall between 1.4200-1.4210 4hr MA's and also 1hr 200 MA, an extended move can target 1.4240. But i think the area between 1.42-1.4240 is full of resistance
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