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Cable Update (GBPUSD)

  • #434,441
  • Jul 13, 2016 7:48pm Jul 13, 2016 7:48pm
I fogot to mention the correction right now on the GBP (1-hour time frame) is a wave 4 in my opinion. Very short correction. The London session should see PA moving down if not sooner.
  • #434,442
  • Jul 13, 2016 8:01pm Jul 13, 2016 8:01pm
yea apart from weekly lol we will see

Quoting TaoTrader
{quote} Hahahahah! All day everyone these pairs have been correcting off and on. I'm calling it a night to sit n watch the market. Just thought I'd help out a little.. The 1 hour time frame is correcting up looking towards 38.2%. It'll soon go down. No matter how long you look at the market, or what prediction you have, those who understand what is happening on the longer time frame will be better equipped to handle ANY price movement. And its the longer time frames that are going down. If everyone TRULY understood that on this website, we would...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #434,443
  • Jul 13, 2016 8:02pm Jul 13, 2016 8:02pm
Quoting TaoTrader
I fogot to mention the correction right now on the GBP (1-hour time frame) is a wave 4 in my opinion. Very short correction. The London session should see PA moving down if not sooner.
Starting to agree with you, man. Closed out all my GBP-based trades and strongly considering shorts now.
check out my blog: forexmademillionaire dot com
  • #434,444
  • Jul 13, 2016 8:02pm Jul 13, 2016 8:02pm
Quoting Bones
yea apart from weekly lol we will see {quote}
Indeed :-)
  • #434,445
  • Jul 13, 2016 8:04pm Jul 13, 2016 8:04pm
look guys ill help you out if you like fibs
Attached Image (click to enlarge)
Click to Enlarge Name: 1 USD (DFB).png Size: 23 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #434,446
  • Jul 13, 2016 8:07pm Jul 13, 2016 8:07pm
Quoting Geppy
{quote} Starting to agree with you, man. Closed out all my GBP-based trades and strongly considering shorts now.
Wise choice my friend! I've watched your posts closely by the way you have some good info :-). I don't claim to be an expert, but I watch the market like a junkie, and I can see the downward momentum from a mile away. I just wanna help everyone be successful that's all.....the price is still correcting upward at the moment, but if you have enough capital in your account like I do you could go short anytime LOL. Im glad to help anytime! To me its all about being humble, and sharing and receiving positive energy. Hopefully we can all be successful on here one day!
  • #434,447
  • Jul 13, 2016 8:08pm Jul 13, 2016 8:08pm
Quoting TaoTrader
{quote} Hahahahah! All day everyone these pairs have been correcting off and on. I'm calling it a night to sit n watch the market. Just thought I'd help out a little.. The 1 hour time frame is correcting up looking towards 38.2%. It'll soon go down. No matter how long you look at the market, or what prediction you have, those who understand what is happening on the longer time frame will be better equipped to handle ANY price movement. And its the longer time frames that are going down. If everyone TRULY understood that on this website, we would...
Look at my last 4 Calls about sweet spots and see the way price went. GU H4 right now from my chart will smash that top with 1.3501 on its horizon but H1 will form new high before breaking bottom which is 1.2795. Depends on how you see it. but one thing is certain from both TFs it wants to take out that top. GL with your correction and down move. There is always beauty in diversity! Voila.
Trading Eternal...... Shiny & Chrome!!!!
  • #434,448
  • Jul 13, 2016 8:10pm Jul 13, 2016 8:10pm
Quoting Bones
look guys ill help you out if you like fibs {image}
You have to view that within the longer time frame, otherwise it def looks like an uptrend. If you start with the longer time frame, what you are showing is simply a correction on the lower time frame, and the most recent price movement is upward momentum to finish the corrective movement.
  • #434,449
  • Jul 13, 2016 8:12pm Jul 13, 2016 8:12pm
1minute TP 100EMA
FREEDOM IS SECURITY.
  • #434,450
  • Jul 13, 2016 8:12pm Jul 13, 2016 8:12pm
ok show me the weekly ,say what you see now
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #434,451
  • Jul 13, 2016 8:13pm Jul 13, 2016 8:13pm
Quoting TaoTrader
{quote} You have to view that within the longer time frame, otherwise it def looks like an uptrend. If you start with the longer time frame, what you are showing is simply a correction on the lower time frame, and the most recent price movement is upward momentum to finish the corrective movement.
Hi Tao - Do you have an estimated price point on when the correction will end?

Thank you for your help,
Mule
  • #434,452
  • Jul 13, 2016 8:13pm Jul 13, 2016 8:13pm
Quoting TaoTrader
{quote} Wise choice my friend! I've watched your posts closely by the way you have some good info :-). I don't claim to be an expert, but I watch the market like a junkie, and I can see the downward momentum from a mile away. I just wanna help everyone be successful that's all.....the price is still correcting upward at the moment, but if you have enough capital in your account like I do you could go short anytime LOL. Im glad to help anytime! To me its all about being humble, and sharing and receiving positive energy. Hopefully we can all be successful...
Thanks, man. Digging your energy and your posts. Keep it up.
check out my blog: forexmademillionaire dot com
  • #434,453
  • Jul 13, 2016 8:17pm Jul 13, 2016 8:17pm
Quoting iamawaited
{quote} Look at my last 4 Calls about sweet spots and see the way price went. GU H4 right now from my chart will smash that top with 1.3501 on its horizon but H1 will form new high before breaking bottom which is 1.2795. Depends on how you see it. but one thing is certain from both TFs it wants to take out that top. GL with your correction and down move. There is always beauty in diversity! Voila.
I guess i don't really understand what you mean about the 4-hour breaking 1.3501. That's a pretty steep move up even for the monthly time frame. I just don't see that happening at all. But its always a possibility. I apologize if I came off rude I didn't mean to. I agree there is beauty in diversity! Do you have any charts to illustrate your prediction about the topside PA for 1.3501? Im curious :-)
  • #434,454
  • Jul 13, 2016 8:17pm Jul 13, 2016 8:17pm
Quoting Geppy
{quote} Thanks, man. Digging your energy and your posts. Keep it up.
You too my friend anytime!
  • #434,455
  • Jul 13, 2016 8:20pm Jul 13, 2016 8:20pm
fair warning ,don't try break the daily open ,GMT
for once could be BOE are not looking de~value GBP
the correction is not the move now imo
Attached Image (click to enlarge)
Click to Enlarge Name: 2 d2 gbp USD (DFB).png Size: 18 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #434,456
  • Jul 13, 2016 8:22pm Jul 13, 2016 8:22pm
Quoting Bones
fair warning ,don't try break the daily open ,GMT for once could be BOE are not looking de~value GBP the correction is not the move now imo {image}
So are you long now?
  • #434,457
  • Jul 13, 2016 8:28pm Jul 13, 2016 8:28pm
Quoting Bones
ok show me the weekly ,say what you see now

Because of Brexit and the exaggerated price movement down, I'd say the retracement levels I've drawn in this chart are the more reliable one. However, If I were to use the Brexit figures it would look like the weekly is still correcting upward for a while. That would prob be in line with your predictions at the moment. My opinion is that the daily is going down in a Wave 3, with weekly doing the same.....and I also have the monthly finishing a wave (4) Within a larger wave 3. What do you think?
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 14 KB
  • #434,458
  • Jul 13, 2016 8:32pm Jul 13, 2016 8:32pm
Quoting Mulegrinder
{quote} Hi Tao - Do you have an estimated price point on when the correction will end? Thank you for your help, Mule
Yes id say the correction is over, but the fundamentals might step in and pull the PA up to the 50% retracement level on the daily chart I have listed here. If so, I'd say the correction would be finished around 1.33856. But my opinion is that the correction is finished and we are now watching the downtrend continue.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 14 KB
  • #434,459
  • Jul 13, 2016 8:34pm Jul 13, 2016 8:34pm
I'm wondering why your long red w1 hasn't a lower wick ,main thing is no way I'm trading against the 2 day I posted ,but your right monthly is bearish,see if open today can hold as shaven tweezer ,first h4 is that
there is an open gap a lot higher



Quoting TaoTrader
{quote} Because of Brexit and the exaggerated price movement down, I'd say the retracement levels I've drawn in this chart are the more reliable one. However, If I were to use the Brexit figures it would look like the weekly is still correcting upward for a while. That would prob be in line with your predictions at the moment. My opinion is that the daily is going down in a Wave 3, with weekly doing the same.....and I also have the monthly finishing a wave (4) Within a larger wave 3. What do you think? {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #434,460
  • Jul 13, 2016 8:36pm Jul 13, 2016 8:36pm
Quoting Mulegrinder
{quote} Hi Tao - Do you have an estimated price point on when the correction will end? Thank you for your help, Mule
The monthly and weekly take too long to show the trend in full bloom, so right now my focus is on entry and exit signals for the daily, 4 hour, and 1 hour time frames. For the 4 hour I have a chart for you showing the price (wave 2) stopping exactly at the 50 retracement level of a wave one, looking downward, with the earliest take profit of 1.30696.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 13 KB
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