Hi Guys , if you check my GBPNZD chart you would notice a similar structure.
Let's see if the is an ending diagonal then we will have a nice trade up, For nor there is a short term sell setup.
Trade with care
Thank you for your support.
Let's see if the is an ending diagonal then we will have a nice trade up, For nor there is a short term sell setup.
Trade with care
Thank you for your support.
Comment:
DAM!! woke up late and misses most of the profit!! Anyway still better than expected!! sorry if you found support there.
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Price is back the previous daily low after a break below and a correction back to it. I won't be selling this, I think it could still break above the upper downward trendline soon, then flag. Let's see! Looking forward to your webinar tomorrow Anil.
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In normal markets it works...but this is irrational market on all GBP pairs... NOTE: Markets can remain irrational longer than you can remain solvent !!!!
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There is nothing irrational about the market, if you hold such view then you don't understand how wave structure work.
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It wouldn't hurt you to to take a compliment, with the greatest of respect.
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Thank you , but you can truly do the same forecast, if you use the same method since it's rule based.
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All I was trying to say it anilmangal works in normal market conditions. If anyone believes they have a system to predict non rational. Sorry their is nothing that predicts non logical... rational events have logic to them. Logical events can be predicated with simi high levels of accuracy... non logical events can not be predicated... This is why computers fail at all kinds of things because they deal in logical events that have a known outcome. If you have a market doing logical events. One can project price events like anilmangal. When you have non logical events like massive stop running on GBP pairs. That is a non logical market because it is not driven by supply and demand. It is being manipulated to make a certain thing happen. That can never be predicted. Same as you can never say were a terror will happen or were natural event that takes life will happen. Those are non logical events. Same as manipulation of GBP.
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True! You can even see that in the chart above, that the bottom is supposed to be at 1.6452 where this system probably start going other direction and probably go long!
But the reality in this case was a drop down to 1.58 which is another 600 pips ;-)
So you are right about that these simple rules working in normal market conditions but unfortunately as traders we do not have any other tool to use!
Btw, GBP is not finished its down journey :-)
But the reality in this case was a drop down to 1.58 which is another 600 pips ;-)
So you are right about that these simple rules working in normal market conditions but unfortunately as traders we do not have any other tool to use!
Btw, GBP is not finished its down journey :-)
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Thank you for the analysis. It looks like all GBP pairs crashed just now. Are the GBPAUD and GBPNZD setups still valid? Thanks.
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Nice setup. Bit of a gift from the market by giving a little extra room on my TP. Seems wise to wait for some structure on the gbp pairs before attempting another trade. A flag at the least for me to feel comfortable with another sell on this one.
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i wasn't in any gbp trades but was watching gbp/nzd charts when it happened and the first thing i did was to see if there was any scheduled news and was surprised when there was none. First thing that came into my head was manipulation. I checked the web after about an hour to see what caused it and analysts on cnbc and other business sites where saying "fat finger" .. yeah right..
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Can you please be more specific with your comments? I presume you entered a short in the previous consolidation pattern (around 1.67) where you described a potential ending of a diagonal. Now what? Have you closed your short and entered a long?
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Nice gift from the market, exited my shorts, watching for the next move...
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No need to appologise Anil,yesterday you gaved us heads up,that the GBP is in down trend
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nothing like someone been happy they can pounce on you !@arshadd!! but you have it wrong , I am sorry for those who saw support there and bought, like you sir. My chart was showing a sell and one we made well of!
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