Thread: Discuss the GBP/USD with a DailyFX Analyst

Originally Posted by fazi

Jay - from my experience - if you have 1to1 ratio for 95% it is not an impulse

Patryk

Thanks for the heads-up Patryk. Your X-wave triangle is looking good so far, especially if you look at the proportions. Not to think to much into the future, but it feels like we are in a bigger triangle off of the 1.70 top, and are now going up to form the 'B' wave of that triangle(off of the 1.57 'A' wave bottom) Jay

Thanks John
I thought thats why he'd be neutral.....

In late 03/04 he was in the same possition on the SPX.. Although that time he was addiment it wouldn;t go higher....

Originally Posted by MrWilson

Thanks John /cmellon

Has he mentioned the possablity of a point 18 seasonal inverson?
ie early point 18 low in anticaption for inverted 18 high?

Hi MW,

What would be the significance of this possible inversion?

Originally Posted by cmellon

Hi Cheo,

This would be 61.8% fib retracement from the high in Oct 21 to the low in Nov 2, which is a possible 3 wave ABC with wave C = wave A at 1075 level.

Market may be completing / testing this level now, but if the count is correct, then we could have a massive wave 3 down end of day today / next week.

The chart of what I was referring to.

Hi Jay,
If thats the case we could get more of a protracted corrective pattern as been highlighted by Justy on the EW thread...

Originally Posted by MrWilson

Its print baby print..... ( check out Fed funds futs for April)

10.2% is risk +ve in the models
& dollar -ve for the value matrix.

speaking of which...

John/cmellon
I haven't got round to Copans letter... Is he bull bear or nutral on GBP?

Odd school rotation is +ve cable

Here is a count that I have been tracking that is supportive of that view. It shows us currently in a B wave triangle with a conservative C wave target of 1.80 ish. Just some food for thought.

Originally Posted by apipintime

Hi MW,

What would be the significance of this possible inversion?

1.5705 would be early LTD (18) inverted low and LTD 18 high would be on time - its window opens in the mid november according to Johns chart. Then down we go!

Patryk

Originally Posted by fazi

Hello everyone,

x wave triangle update - "... it ain`t over till it`s over..." - 1.6464 is my line in the sand.

It should be a double top, but there is no follow up - there could still be a nice tumble, although it looks to me like a bear trap and a full blown failed double top.

Patryk

Hey Fizi..

One Questoin

Your W-X-Y

Is 5-3-5 zigzag Correction

But I don’t know You Place your X correction into Right Place, But I would say If your C not Below the level of 1.642 or (=) equal to A 1.647 so then your X Correction 3wave would be valid Other then Your X wouldn’t Be Valid Zigzag ..



thanks

cheer vincy

Originally Posted by VINCY BALBOA

Hey Fizi..

One Questoin

Your W-X-Y

Is 5-3-5 zigzag Correction

But I don’t know You Place your X correction into Right Place, But I would say If your C not Below the level of 1.642 or (=) equal to A 1.647 so then your X Correction 3wave would be valid Other then Your X wouldn’t Be Valid Zigzag ..



thanks

cheer vincy

Vincy, If it had been 5-3-5 I would have labeled it ABC

Patryk

Originally Posted by fazi

Vincy, If it had been 5-3-5 I would have labeled it ABC

Patryk

You have to see Robert Balan Book..

Amazon.com: robert balan

many people has Many Reason..

edit-
Rule – Wave W Must be a Zigzag ,,

Wave X must be smaller then W by Price retrace least 20% of W.

Y Must be ZIGZAG…


cheer vincy

Originally Posted by MrWilson

Hi Jay,
If thats the case we could get more of a protracted corrective pattern as been highlighted by Justy on the EW thread...

Do you mean the current lower level corrective pattern, or a more protracted higher degree(daily) level corrective pattern? (i.e. the daily degree triangle that I just posted) Thanks.

Originally Posted by apipintime

Do you mean the current lower level corrective pattern, or a more protracted higher degree(daily) level corrective pattern? (i.e. the daily degree triangle that I just posted) Thanks.

The higher weekly frame....

I like John are not looking towards the MC4 18 inv as we have gone up for 7 months ( Armstrong)

Maybe john or cmellon would be kind enough to post the MC4 & MC5 if they've got time, to help clear things up...?

thx mw

Originally Posted by MrWilson

The higher weekly frame....

I like John are not looking towards the MC4 18 inv as we have gone up for 7 months ( Armstrong)

Maybe john or cmellon would be kind enough to post the MC4 & MC5 if they've got time, to help clear things up...?

thx mw

No problem

attached

Thanks John!

GBP looks in a Bull Phase...

Here's a month chart with Armstrong Bull & Bear phase numbers on.. ( Bear markets 2,3,5,6,10 & Bulls 7,11,14,21)

Monthly GBP

Originally Posted by fazi

Hello everyone,

x wave triangle update - "... it ain`t over till it`s over..." - 1.6464 is my line in the sand.

It should be a double top, but there is no follow up - there could still be a nice tumble, although it looks to me like a bear trap and a full blown failed double top.

Patryk

another x` triangle update - some ratios within the formation, pretty haromonic I must say.

And an alternate count - Unless this market changes habbits and starts to respect regular fibos (38.2 from this weeks bottom) instead of sqrR of 2 ratios I prefer this scenario, where we have an x`triangle within larger Y.

Patryk