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08-25-2011, 06:02 AM #43696
Is Gbp/usd approaching a big end?
GBP/USD weekly chart
08-25-2011, 10:50 AM #43697
I understand what you were saying. My point is that the wave c is a possibility not to be discounted at this point. In my view the important low is not the low at 4050 but the one at 3840+. The move up from there is 5. If this a leading diagonal as you suspect, it would have to be i of 3. That would also indicate a higher price as wave iii of 3 and possibly 3 itself would be extended.
Originally Posted by bkbj
08-25-2011, 11:12 AM #43698
Originally Posted by aerocom
08-25-2011, 12:37 PM #43699
obvious 3 waves down points to a deeper correction
08-26-2011, 12:10 AM #43700
Setting up for a more lower?, a rare case of wave E being a triangle for a larger wave E
I guess we find out soon, imo still about who controls the 14515-50 area as the other setup is that a spike higher for wave [v] of ED then reverse
A strong move above 14550 will have the Bears thinking about coveing shorts and could see a vicious push higher
Far better to wait till the result and see what the reaction is, kinda like a great big FOMC meet
08-26-2011, 12:03 PM #43701
I agree and think the final move is afoot to the upside. It should be a nice short opportunity.
Originally Posted by Nouf-WPT
08-26-2011, 03:04 PM #43702
those "obvious 3 waves down" look like just wave A of the flat in 4th. i expect gold to print a new high by the end of Sept
Originally Posted by skinnypuppy
08-27-2011, 04:15 AM #43703
NEW YORK traders and there famlies
NEW YORK traders and there famlies
I hope that you all get through this hurricane alert safely over the weekend.
I see from the news that it is now going to be clased as a 'federal emergency '
I am aware of such measures and how critical this will mean.
So to all of you and your families -Good luck and be safe.
Take your profits or the market will take it from you....
08-27-2011, 08:43 AM #43704
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08-27-2011, 05:26 PM #43705
CHFJPY Trade setup
Setup for a short... Right now it looks like it goes more down next week, but an expanded flat correction is equally likely which would retard an entry. The price is now at 1.38 of the lenght of A (cercle), typical for an expanded flat. I have my SL on break even for safety. Market will tell.
08-27-2011, 05:46 PM #43706
Update... (see previous post)...
1H, the last week
Last edited by 10frank01; 08-27-2011 at 06:00 PM.
08-28-2011, 12:19 AM #43707
Following on from my previous posting on cable, there appears to be a 5 wave decline, so a correction that fails to get above 16430-75 is a going to setup a great trade and one that imo is worth following over the coming days
08-28-2011, 12:35 AM #43708
I guess we find out soon, i found it interesting that the 5th of  and 5th of  virtually hit smack on a measured move and reversed
08-28-2011, 02:23 PM #43709
Triangle having completed now? If so, the width of the triangle would give a target at 1.5200.
08-28-2011, 02:58 PM #43710
Wave 4 cannot overlap wave 1. Or, is it that the end of wave 4 cannot overlap wave 1? I see Prechter and company sent out the same count over the weekend. I think there is another count that indicates the same result. As a matter of fact the two that I think are superior to the triangle without breaking any rules indicate a target of 1.5083 and 1.5183.
Originally Posted by 10frank01
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