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Thread: GBP.USD

  1. #181
    action-reaction arco's Avatar
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    Still awaiting Rooters EOD - not due until 10.15 am.............so can't do much yet. In the meantime heres the updated 3 hr chart.



    arco

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  2. #182
    Senior Member slam's Avatar
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    Arco
    btw, thanks for some great charts as of late, right on the button.
    Long weekends obviously agree with you.
    Should have had on myself maybe

    Cheers
    slam

  3. #183
    action-reaction arco's Avatar
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    Hi Slam

    Yep, those long weekends are great.

    Narrowing Wedge / Wolfe Wave scenario?

    The print is now higher @ 7810 than it was when I made this chart, however it could be worth keeping an eye on for a possible shorting opportunity if the action falls back below the last pivot low.

    arco





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  4. #184
    action-reaction arco's Avatar
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    Multiple WW's lead to the conclusion a reversal may possibly take place within the yellow box.

    arco



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  5. #185
    Guru Xerof's Avatar
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    Arco, fairly vicious moves on this over the last few days. Do you consider your original butterfly still valid, or was last nights retracement too much?


    TIA

    Xerof

  6. #186
    action-reaction arco's Avatar
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    Hi Xerof

    The potential reversal zone is still circa 7822-8066.

    Its a large range but incorporates the old bullish and a smaller bearish Butterfly. The WW charts I posted indicate a possible reversal area around that 7822.

    Ideally we need to see a positive reversal signal/pattern to confirm the move is over.


    arco - checking his Piggy Bank







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  7. #187
    Guru Xerof's Avatar
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    Thanks - 7822 or 7922? looks like 7922 on your chart...

  8. #188
    action-reaction arco's Avatar
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    Hi Xerof

    Yes, my apologies I got the green blob in the wrong place. (Trying to keep my eyes on too many things at once).

    7822 is the correct figure.

    The action is approaching the large WW target line - currently sitting circa 7850. It will be interesting to see if it halts progress.

    arco



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  9. #189
    Guru Xerof's Avatar
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    quote:Trying to keep my eyes on too many things at once
    Arco, you need to avert your gaze from page 4 of USD.JPY thread, and concentrate lad, concentrate

  10. #190
    action-reaction arco's Avatar
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    GBP managed a high of 7903 (Within the Butterfly/Gann target)

    If you rode the beast north to the target zone (see previous chart) you should/could have gotten upto 120 pips (max)on a day trade.

    .........and if you reversed the beast south there has been a max of circa 85 so far.

    Perhaps the peak is a HEAD.

    I will try to update the chart later.

    GTA - arco



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