If majority is selling, Im going long..
Cable Update (GBPUSD)
- #437,825
- Aug 25, 2016 6:48am Aug 25, 2016 6:48am
- Joined Mar 2012 | Status: turning probability into profit | 1,550 Posts
Target hit @ 3185
+ 143 pips banked.
2nd buy @ 3185, T/P @ 3325.
Began accumulating positions.
Best
D.P.
I can call some friends of mine, who are very professional on the EW subject.
You can find them at the Club thread.
Best
D.P.
+ 143 pips banked.
2nd buy @ 3185, T/P @ 3325.
Began accumulating positions.
Best
D.P.
Can someone remind me that Elliott Wave is nonsense
You can find them at the Club thread.
Best
D.P.
Hunting High and Low
- #437,830
- Edited 7:25am Aug 25, 2016 7:13am | Edited 7:25am
- Joined Mar 2012 | Status: turning probability into profit | 1,550 Posts
Hunting High and Low
{quote} Not necessarily. A is a long term trendline, very strong. We've broken above it. We might be retesting it or it might be a false break out. Point D is quite significant in that it make 1.28 a medium term low. A break above D would nullify any short and would most likely result in a steep up move with only 1.3333 (F) in the way. my 2 cents {image}
A good strategy for trading is... the opposite of having a bad strategy.
- #437,836
- Aug 25, 2016 8:21am Aug 25, 2016 8:21am
- Joined Sep 2013 | Status: Trader | 2,999 Posts
"W. D. Gann said that time is the most important factor among all things."
- #437,837
- Aug 25, 2016 8:28am Aug 25, 2016 8:28am
- Joined Feb 2016 | Status: Trader | 1,018 Posts
Target hit @ 3185 + 143 pips banked. 2nd buy @ 3185, T/P @ 3325. Began accumulating positions. Best D.P. {quote} I can call some friends of mine, who are very professional on the EW subject. You can find them at the Club thread.
Many thanks - will check it out
- #437,838
- Edited 9:07am Aug 25, 2016 8:39am | Edited 9:07am
- Joined Mar 2012 | Status: turning probability into profit | 1,550 Posts
{quote} #GBPUSD pound has not taken out the high @ 1.3272 but it does not mean that it wont go higher..... yesterday was a cycle turn but sometimes there are what i call variables that have stronger influences on the instrument.... so A) it could trade sideways today if yesterday hi or low is not taken out. B) If 1.3160 is taken out could head to 1.2865 or 1.2797 on 9-2-16 to test some lows.... (may or may not happen)... C) we have a little Resistance but will blow thru it and make a pivot swing high @ 1.3325 or 1.3370 for now I'm waiting for pound...
Well, with that said by you, we can actually go higher and break through the levels upper than we target at 3325 - you said it could be 3370.
So I was asking about it for me to estimate if the price is going higher, let us say, to the 36xx levels.
As to today's vision of mine, I can assume that prices will come back to the area of 3240 and in order for us to see the breakthrough of the 1,3272 level (I think, it is possible, but tomorrow), we should have the current day to be closed upper than 3225, or even if - at the 3225 area (the upper 1/3 of the current day range).
Best
D.P.
{quote} Hi Dr P Many thanks - will check it out
However he is now having rest, climbing in the sky
(mountains).Best
D.P.
Hunting High and Low
