If we break below the rising channel, things will be very interesting ... Thanx 4 the quick reply
You are welcome.
Here are two of my latest posts on GBP JPY. It has the details of my thought process. I first identified a top at 162.6 using Delta logic on June 24 when price broke 154.85.
Here are two of my latest posts on GBP JPY. It has the details of my thought process. I first identified a top at 162.6 using Delta logic on June 24 when price broke 154.85.
Here's one more set of channel lines you can keep eye on as well... Just from watching where this market has been finding the major support and resistance points, I will be paying close attention to this channel as well if the first one I posted earlier gives way....
I actually wouldn't be surprised to see EURUSD decline a bit... I was holding long from 1.3000 looking for a 1.4500 target but have already dumped my longs and flipped to short after seeing how price is being rejected at the over head Fibonacci cluster....
Cmellon... Kudos buddy Excellent call on GBPJPY... I must admit I was very skeptical.. Hats Off
Thanks Brad Turning point is the toughest to trade, since it's essentially picking a top and bottom, so it's very understandable for anyone to be skeptical.
Here's what I'm looking at as a likely possibility on the daily chart of CABLE..... If price plays out like this .. GBPJPY should end up going much lower as well...
I had posted 2 positions a few pages back, both long from 8520, one short term and one medium term trade. My short term target has been reached (8640) but I'm letting this run as I see considerable upside....
......and the schoolboy error of the week goes to me......!
I posted this a few days back and entered a position on a new Spreadbetting broker I am trying out. Unfortunately I forgot to set the position to roll-over so it was closed at the end of the day (breakeven). Since then, look whats happened.....
I had posted 2 positions a few pages back, both long from 8520, one short term and one medium term trade. My short term target has been reached (8640) but I'm letting this run as I see considerable upside....
I think EURGBP is deffinately due for some more upside, but I don't think the larger decline is finished just yet... Perhaps we may have a triple zig zag here on the daily... I'll be looking for a top to short up near .8800 if we get there...
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
English
Español
Français
中文
Deutsch
Italiano
العربية
Sverige
Ελληνικά
Originally Posted by brad_1199
Posting Permissions 
Reply With Quote
... Thanx 4 the quick reply 
Turning point is the toughest to trade, since it's essentially picking a top and bottom, so it's very understandable for anyone to be skeptical.
