We have now completed 11 swings to the upside and should atleast see a decent correction or new lows alltogether. A bearish bat has completed at 1.5300, where there is a fib cluster.
Are you short eurgbp? I got long gbpchf going into Friday afternoon. Had a nice 30 pip gap and close to another 30 today. I'm seeing wave wave (iv) complete on eurgbp for (v) down at this time. Lots of wxy corrections occurring at this time.
traderWgun
⋅
Yes I also think that this wavw was wave 4. Iam for the moment long gbpchf.
HamedAghajani
⋅
Hi- Long gbpchf to what target? Thanks. I took this trade few days after your initial call and made about 200 pips so far.
traderWgun
⋅
1.55-57 target area. I will try to post my long idea later tonight, stay tuned.
traderWgun
⋅
A little update
It looks like we are still in wave C of Z and should see another push higher.
As you can see, wave 1 was longer than wave 3, so wave 5 shouldn't be longer than wave 3.
That means we shouldn't see a break above 1.5470, otherwise this count would be invalid.
fourkey2013
⋅
what should the target be for short? short term and long term
traderWgun
⋅
Short term targets are open, long term 1.45 and below.
dojitrader
⋅
Like your count !
I'm looking at the larger degree context since the low of August 2012 ---
Am I correct in assuming you're looking for the end of B then C wave of 2 ?
What do you think the probabilities this last wave is currently 3rd of C in red B, therefore needs
a 4th and 5th to the top which would probably push the invalidation point pretty close ?
Thanks for your thoughts and have a great week ~~~~~~
traderWgun
⋅
I guess you mean august 2012 high. Yes I think we completed wave A to the downside in feb2013 and wave B to the upside now, then wave 2 or C would be complete.
Yes that is possible, but the price action has been very hard to to interpret for the last swing to the upside
that I can only say that it's bearish below 1.5470 ATM. As always, we need to see 5 swings to the downside
for confromation.