may be possibilty of 4th wave completion for a run north
divergence on q stick
bat prz
bullish engulfing
rising trend line support
low risk entry would be entry on wave 2 retracement with stop loss at 20350
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may be possibilty of 4th wave completion for a run north
divergence on q stick
bat prz
bullish engulfing
rising trend line support
low risk entry would be entry on wave 2 retracement with stop loss at 20350
the weekly supports the case of further correction in gbp
evening star print and by a few pips wave 4 has overlapped wave 1
i would still trade from long side but get as close as possible to key support at 20350
and set a stop and reverse.
very interesting to see the outcome
this trade clicking uo 350 pips , looking to close out and short
action has more of a feel of a corrective pattern
c wave of a (b)
gartley prz (2.0950 ISH) would provide a safe entry point for big move of c wave , first target would be
around 2.00
as always confirmation required and it may not make it to prz
Nice trade DB........you are doing extremly well.
Cable - Agree, looks very much like a bearish scenario unfolding.
Getting short is at a low risk point with the potential of a move
into the lower pink box. Good R/R.
Interestingly the big brown box on the chart it the
'old brown moth' target from years ago (shown at
various times/places on this thread).
rgds - arco
looks like south bound move underway
preferred count would be wave c
alternate count would even better iii of a 3
650 pips on c wave so far
pausing at 4th wave consolidation before hitting lower channel around 2.00 - 2.01
would seem a good place to close shorts
would now in my opinion be worth looking at short again
i was fortunate to see a good risk reward trade as the wave 4 retracement came pretty
close to wave 1 on previous chart
short at 2.05 sl 2.0540
aiming for original target around 2.00
One order got triggered overnight @ 2.0440....currently +100
Possible target down towards the 2.000 level (will re-evaluate once I
get Rooters EOD download at 11am)
Heres an updated chart showing a potential green Gartley
in the making, with a target down near the 2.000 area.
That would complete a 5/3/5 ABC pattern.
rgds - arco
______________________
Moving on nicely now after a shaky start.
+284
This is the way I'm currently looking at GBP/USD, with an expanded flat correction we should be looking for a turn around where wave C is 1.618 the length of wave A, which according to my calculations this is around 1.955
http://i191.photobucket.com/albums/z...gbpu1-10-1.gif
Hi Craig
That fits nicely with the BFs as mentioned earlier on the Eur.Gpb thread
rgds - arco
bullish on gbp
currently in a 3 wave abc correction of wave 2 or b
looking to buy into retracement off downtrend line to ride c wave up target around 2.00 initially
Hi DB,
I'm currently long GBP and looking to add at 9720, right around the 20 day moving average which acted as strong resistance on the way down for this pair, now that its through I'm thinking this could give us some support
hi craig
i reckon the a wave looks like its finishing ( doji on daily, trendline , doji and divergence hourlies 6 am candle
i think it will retrace to your level mentioned at 19750 in a b wave possibly even to 19550
before resuming run on 200 for c wave
currently short 19850 sl 19920 targets as mentioned