Something different from Jamie's CAD bearish forecasts... My USD bearish alternate count for USD/CAD...
1) clear 2 5-wave moves lower 1 and i (YES, can be a and c of a zigzag)
2) retracement back to a trendline to kiss good-bye?
3) not much impulsive action since 0.971 low - conatined in a channel of three-wave moves. top could be in place for a triple-three correction and just above 50% retracement.

Easily valid below 1.02, I think.

Thoughts?

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Hi guys,

It looks like wave (i) of (3) is complete. One possibility for the wave (ii) correction is that an expanded flat is forming. If so, we should see 97.49 exceeded before the next leg lower begins.

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My count is slightly different.
But, I am also looking at a retracement to 97.50
Please see attached.
Mike

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GBPUSD is surely taking long time. But Bob Prechter warns us that triangle take a long time to resolve. All we can do is wait and wait and wait.
In the meantime, here are my thoughts to ponder upon.
Mike

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AUD/USD may be getting ready to bottom out. A triangle looks to have formed as wave four of wave 'C' of the larger correction. Since triangles preceed the final actionary wave in a sequence, it looks like one more decline will be the end of the correction.

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Yes, justy, that's how I look at the Ausie since yesterday's European session US dollar failed weakness attempt...

Hello Big Mike .....
///////////////////////////////////////////////////////////////////////////
I would like to comment on this chart , Can I ?

i would like to point out a few things about this Gbp/Usd triangle
chart you just posted , but after my encounter with brad1199
in which mostly i did not appreciate being called a '' grand master "
in his last post and ,that was hard for me to digest ......

So the bottom line here of what I'm saying is
although i think many of many of my posts are educational :
please understand that i don't want to put anyone on edge
with pointing out what I think may be occurring in the charts .......

I'm not in here to upset anyone about thier chart posts........
but i have recently found that my comments on the charts
of others may put certain people on the defensive
So this is why I'm asking you first ,

--------------------------------------------------------------------
What i have learned in here recently is that although people ask for
comments about thier chart posts at times , eventually when comments
are made on thier charts by others , it can make people feel ailianated
and they tend to get defensive to say the least ........

////////////////////////////////////////////////////////////////////////////////
So , I have an idea what's going on with the GbpUsd ,
abnd would like to point out a few things on your chart you just posted if you let me .....

but i will respond only after reading your reply ......
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Us Dollar
( Wave-count ) 1hr bars

Heres some Eye Candy !.............
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Hi Mike,

A triangel should consist of 3 waves .... seems that B is 5 waves .... so no triangel .... something diffent.

Looking back after the carnage last night, you are obviously right.
Expanded flat?

Agreed. I have also read this in several books regarding the intra day close overlap of leveraged markets.

Hi Mike

It looks that way at the moment, but would be good to learn what Marketwaves sees as per his post earlier.

Are you still long, i am hanging in there with the skin of my teeth.


regards

Ray

Market
I would love to hear your comments. You know well that I am new to this game and although I believe that i am fast learning, sometimes my ambitions exceed my experience.
The main reason why I post my comments and my charts is to learn and to hear other people's opinions. You are probably one of the most knowledgeable guys on this forum and I am sure that you have more knowledge and are correct in more cases than other people. I will certainly value your opinion, please do not be offended or upset about other guys' comments.
After all, we are here to learn and to help each other and to develop a community of friends. In this forum there should not be room for petty politics ; that's silly.
in short, I CANNOT WAIT FOR YOUR OPINION>
Thanks in advance
Mike

Hello Ray
Yes, I am long now, as of this morning, after being stopped last night at a loss.
Mike

Hi Mike

I just managed to stay in one lot! one got chopped..:-(

Are you in the USA?

Regards

Ray