GBP.USD

[dumbass]

didnt need a rate cut to hit the floor

got 80 on the way down

[arco]

.

This is considered the UK's most important inflation data because it's used as the central bank's inflation target

Powerful Move Possible

.

[Tok3n]

Do you guys trade during news periods? seems a bit scary even with stops

[dumbass]

sometimes , it sort of speeds a trade up , your either right or wrong.

got a long elliot wave count at moment.

[Dr_Who]

got a long elliot wave count at moment.

What does that mean?

[arco]

Do you guys trade during news periods? seems a bit scary even with stops

Tok3n

If you trade the news.......you have to be able to feel the fear without quivering......

you need wide stops (or if you can - no stops).....you must take quick profits/quick losses.

Pre-release.
Secret is to try to be positioned before the event.....but you need to be able to judge the mood. And remember sometimes black is white, yes is no.....if you get the idea...........read between the lines

Try counting waves.....it can sometimes be a help

Good luck

arco

[arco]

What does that mean?

In case DB is not around to answer.

DB means his EW workings shows the pattern to indicate a 'long' count is in progress .....Cable heading north.

rgds - arco

[peat]

I was seeing us currently in wave c
with the 5 purple waves and the a and c wave in yellow

1 = 5 and if c = a then back to 1.77

But its just me sayin what I see....I'm very open to why this count might be wrong or how else to do it.

[dumbass]

thanks arco , yes doc see on the chart currently in a 4th wave , which means there is still one more wave higher , 5th wave

not much use at the moment as risk is too great to go long from here

so waiting for 830 which may take price lower and a more favorablr risk to go long or break 3rd wave high to then complete 5th wave.

so just waiting

[arco]

.

http://www.moneyandmarkets.com/Issue...erEntryId=2376