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Thread: GBP.USD

  1. #251
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    morning arco , i cant post chart at the moment i bailed on the gbpusd hourlies printed a tweezer bottom around about 9 ish last night i think
    ill post a lot more detail later

  2. #252
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    usd cad still running butterfly entry sl high 94s target 98 ish i think

    wave count based trade

    sorry its such a crap reply , kind of hard to respond without charts will post later

  3. #253
    action-reaction arco's Avatar
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    Interesting correlation play.


    John Jagerson has mentioned there to be a surprising correlation between oil stocks like BP and the GBP/USD.

    He states 'They are both influenced by oil prices and can be used in intermarket analysis. If I see a breakout in one that is not reflected in the other - it is a trading signal. A great example was the break above resistance on BP last week that made me think the GBP/USD would be more likely to break through its July resistance level.'

    Check it out yourself in the chart below.


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  4. #254
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    just just possible top in , butterfly 127 at 20900

    small short at 20860 on , adding at 20820 for the much anticipated abc correction to 20570 first target.
    Last edited by dumbass; 05-11-2007 at 08:42 PM.

  5. #255
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    Can the dollar push this thing back below its weekly resistance.... I guess we'll find out in the next 9 hours...


  6. #256
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    from ew perspective

    in a B wave of an ABC correction of a larger 4th wave

    safest possible trade would be the C wave as it takes out A wave low 20522

    if 20250 area was breached (4 th wave level of previous impulse wave) then could be a deeper correction as lower channel would be breached

    you could pick the top of current B wave and then ride the C wave all the way down

    of course always an alternate count going on
    Last edited by dumbass; 13-11-2007 at 09:25 PM.

  7. #257
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    wave 3 is smaller than both waves1 and 5 tho
    a no no in elliot wave theory.
    not that I'm any good at EW DA, but I do know the rule that says wave 3 must not be the smallest
    Last edited by peat; 13-11-2007 at 10:19 PM.
    For clarity, nothing I say is advice....

  8. #258
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    im not sure what your getting at peat

    you may be interpreting the wave degree wrong i will post with bigger text
    Last edited by dumbass; 13-11-2007 at 10:42 PM.

  9. #259
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    oic
    my mistake i was confusing eg (1 ) with 1

    as you were !
    For clarity, nothing I say is advice....

  10. #260
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    just a note on the chart posted the critical level for the 4th wave retracement is 20370 as wave 4 can not overlap wave 1

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