Morning all

Just a quick update.

I am trading the view that I originally expressed last Friday and again on Saturday regarding the direction on cable.

To that end I am short with a 1.6547 average - targeting a minimum 1.6200 within the next 2-5 trading days.

I've attached the original chart I posted on Saturday (ITD possible) along with the updated one from yesterday.

Stops on shorts at 1.6608.

As allways..... I could be wrong - I'm just trading my signals

Edit : if the BOE do not increase the APP by at least 25bn then this trade is likely toast

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John G

Hi Mike

Yes Mr, John Bollinger buid a nice indicator..

But I think The BBS...Bollinger Band Squeeze Is Technic taken From OTA online Trading Acadamy Mike mcmahon If i am not Wrong..


And Second The Market Sentiment Mike..


BBS...Bollinger Band Squeeze has his Nagative Point for newbies ...

see here i try to explain



See the First Bollinger Band Squeeze …. Red circle..

Yeah so now the pair is going down so that mean sell .. So let assume We have sell see the Pic.. But now the Setiment just change and Maket Goes UP… So you get Panic or if you know your Scalping MM so you will close You Position At the Where is The Arrow X ….

Then Again we have seen Second Bollinger Band Squeeze ……

So this Time We know the we lost are trade .. So again Market Going down …

But In your Mind have that we lost The Possition So We SELL BELOW OF PREVIOUS SOLD possition too make sure that My Bollinger Band Squeeze Should be Profitable…But again Market sentiment just change and we close again the basis if you are FAST SCALPER To UR X..

So Again we Lost the 2 Possition..


But If you are Lucky So you gain money...

But trading isn't about LUCKisn't it My Good man..


But If you use some simple techincal analysis Like

Take the Daily chart..

Candle..

R3 = Pivot + 1.000 * (H - L) =

R2 = Pivot + 0.618 * (H - L) =

R1 = Pivot + 0.382 * (H - L) =

Pivot = ( H + L + C ) / 3 =

S1 = Pivot - 0.382 * (H - L) =

S2 = Pivot - 0.618 * (H - L) =

S3 = Pivot - 1.000 * (H - L) =

follow the Dig into your List box..


or If you have mt4

here is my example with easy form of MML option ..

http://forexforums.dailyfx.com/375277-post3158.html

cheer vib

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GOD BLESS U EVER VINCY BALBOA!!! :)
my twitter http://twitter.com/vincybalboa1/elliot-wave

When I feel bored I look for BBS to do some scalping. SL is below 10pips.
Yup it aint easy to . BBS can squeeze money from your pocket if u r wrong.
Thank you so much for your advice. Hows your annual return on capital for your forex trading? I am using this system that gives 100% return per annum for the last 3 yrs.

Well, the triangle was invalidated, but the alternative that I mentioned is in full bloom. Wave B did end at my wave C point @ 1.6260 and are now completing wave v of 1 of C. I will be buying on a wave 2 pullback into the 1.6460 area. Of course that will depend on the nature of price action during the pullback.

Attached Thumbnails

 

Is in the process of consolidating the heavy setbacks seen on 23Oct after failing by formidable internal range resistance in the 1.6700 area. Any recovery rallies are now expected to be well capped in the 1.6500-6600’s, with a lower top sought out ahead of a fresh downside extension through next key support at 1.6240. Using a daily ATR (Average True Range) analysis, we project a potential high by 1.6655 today which we will be happy to sell into. Look for a break below initial support at 1.6400 to accelerate. STRATEGY: SELL @1.6650 FOR AN OPEN OBJECTIVE; STOP 1.6810. RECOMMENDATION TO BE REMOVED IF NOT TRIGGERED BY NEW YORK CLOSE (5PM ET) ON THURSDAY.

All my best,

Joel

Well we got there,

Its the bears last stand point so lets see what they've got....

Sticking with the plan

Moved stops on shorts up to 1.6698 before BOE

Holding original shorts and have added more @ 1.6630 which is at the trendline which is holding so far.

All stops and the line in the sand for me at 1.6698

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John G

Hi John...
Looking at your last Delta chart..
Are you looking for a early point ITD5 to have come in this morning?

thx MW

Hi MW

No - ITD 4must be below 1.6250, the due date on my count is tomorrow but as the larger MTD move is down I would expect it to come 1-3 days late

I'm counting ITD 3 as MTD 7. it came early as it was an MTD cycle turn.

The MTD cycles are not as clean as I would like - but the count works on the MTD time frame that I posted last Saturday (attached)

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John G

Hi Guys,

I wanted to post this bearish alternative to the count I posted earlier. We could be heading down to the 1.62 area to complete a large B wave flat, before possibly heading higher.

Attached Thumbnails

 

On the SITD frame, todays price exceeded the last SITD swing high on the 29th Oct (1.6602) hinting the ITD frame is up...

Personally I'd like to see the 123.6% ext at 1.6683....

120min GBP Z

Hi Jay

Thats the alternative, in case we've had an early inter point come into day come in... (point 3 on the chart)

Here's an inter rotation (changed slighly put a number 8 were the 2 is and you'll get the old rotation)

Personally I'd still like to see the 1.68 for the ITD point (3) high

Is it possible that the recent 'b' be move over to todays peak, and then the '2' point coming in just under the last 'a' (as is the case with the other ITD points coming in below their respective 'a' points). And, if so, how would that change your outlook. Thanks. Jay

Hi John,

I know you feel so much discomfortable with a late ITD1 as a bottom of the early MTD6 that you proposed this count. But doesn`t it matter that early ITD 1 in your count is out of its time window?



Inverted ITD 12 and ITD 1 bottom looks so much better to me - ITD 1 as an important low fits into rules too.

I`m not trying to be an egg smarter than the hen (you have far more experience), I`m just trying to understand why do you accept ITD1 arrival out of its stdev time window.

edit: I thought once a propper order is established ITD points are "welded" to their position.

Patryk

Here's a scenario that would allow that to play out. A possible triangle forming before the NFP tomorrow, a surge out to complete (v) of 1 of C, then a hard sell off to form wave 2 of C. Just thinking out loud.

Attached Thumbnails