GBP.USD

[speres]

Interesting chart, we may have here a reversal.........

[AMR]

GBP.USD rebounded off 7 year support, entered a trade last night to see a retest.

[AMR]

GBP.USD rebounded off 7 year support, entered a trade last night to see a retest.

Well that went very badly. Went short at 1.42, stopped out 1.46. Went short again 1.47. GBP rallied thru my stop by 80 pips and then my big move happens...argh!****!

[dumbass]

hi S, choppy action on cable recently , very much in a broad range between 1.35 - 1.50
last few months.
short term action not a lot clearer 148.38 ( 61.8 of wave down) needs to hold and reverse and i would take opportunity to buy the move lower and close out short.
strong correlation at the moment with equity markets,i'm expecting short term, market decline to complete B wave but its going to be a choppy affair.(sp500 /dow)
in summary better fish to fry.

[golsau]

hi S, choppy action on cable recently , very much in a broad range between 1.35 - 1.50
last few months.
short term action not a lot clearer 148.38 ( 61.8 of wave down) needs to hold and reverse and i would take opportunity to buy the move lower and close out short.
strong correlation at the moment with equity markets,i'm expecting short term, market decline to complete B wave but its going to be a choppy affair.(sp500 /dow)
in summary better fish to fry.

Hi Dumbass,

I have been reading your comments over the past few weeks. Very interesting.
I guess if I would have been following your lead I would have made money but some people are stubborn!!!!????
Anyway, at least your gbpusd latest projection looks good for me as I am short gbp with.
Thanks

[dumbass]

it feels like there is no clear direction in forex markets at the moment.performance of the equity markets will determine short term direction.
Still favour a slow drift lower before markets hit their straps for a run up to 10 k + on dow, then Armageddon C wave lower.
The big trade to watch for the future is short euro, very surprised its held up so well and feel it will correct to parity.

[arco]

.

The rounded bottom is a similar set-up and target to a H&S

.

[dumbass]

similar elliot wave count would have cable in a correction with a 5th wave target the same

as yours arco.

the charts seem to be indicating one final wave down in the USD and therefore one final

wave higher in equities before a great shorting opportunity.

how you seeing it ?

[arco]

similar elliot wave count would have cable in a correction with a 5th wave target the same

as yours arco.

the charts seem to be indicating one final wave down in the USD and therefore one final

wave higher in equities before a great shorting opportunity.

how you seeing it ?

Pure guestimate ATM but maybe..........

North move imminent to 6650-6750, reversal south to circa 6450, and perhaps north again towards 7300-7500. Then south again

arco

.

[arco]

Short term chart