Anand Shah
Short

gbpusd elliot wave

FX:GBPUSD   British Pound/U.S. Dollar
191 11 0
clean 5 wave decline down to ~1.5 .. subsequent moves suggest correction in force .. if this is a zig zag we go to 1.52819 ... then come down hard ... however this correction could be another type of correction which is yet to play out ... either way the big move will come on the short side
RyanLatorre
3 years ago
USD index in general is on a correction. After this a bounce past 84.50 up to 86 is definitely in the works. USD trend still intact. Natural market price movements is all we are seeing this week. End of the month always sucks to trade regardless.
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Anand Shah
3 years ago
my worry is the FED stringing the market along for a while longer and pushing back schedule for beginning tapering process after the market spat its dummy out last week ..

i think reason for stregnth was better economic data & beginning of tapering talk to guide market as to intentions ... but markets dont look strong enough to weather tapering yet... so benanke and co have backpeddled in terms of rhetoric .... i think the only way this can work well is if economic data is genuinely improving and they gently start tapering ... then we could see US equity hold up while dollar rallies ... this market is getting very complicated to interpret ..
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Anand Shah
3 years ago
start analysis usdjpy and you have the japan monetary policy to interpret in the mix .... result ... HEADACHE!
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Anand Shah
3 years ago
ryan you got an email address ... ill send you something to have a look at ... be good to get a second opinion ... ?
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hehe
3 years ago
What a joke. Is this a new theory? This is Elliott:
snapshot
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traderWgun hehe
3 years ago
I have too agree, how can wave 1 be the longest? and how can B close below A? This wave count is now EW, something else.
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Anand Shah
3 years ago
chill out guys .. we all friends here ;)

@hehe ... on your chart ... wave 2 overlaps wave 1 ... according to axioms that cant happen. also look carefully at sub wave counts .. for eg in your wave 1, you have a clear 3 wave subcount which cant happen (needs to be 5)

@trader wgun .. wave 1 CAN BE the longest .. you are right that elliot said USUALLY it is 3, otherwise often 5 (seems to play out in commodities this way more often) .. but no reason 1 cannot be the longest ie an extension. b CAN close below a .... its called an EXPANDED FLAT by ELLIOT.

i should be charging you for all these lessons ... im too nice though ;)
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hehe Anand Shah
3 years ago
...sure ...this was Ralph Nelson ELLIOTT - you have no idea what you're writing and you're wearing bad glasses.
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traderWgun Anand Shah
3 years ago
well, I'm not a EW expert but this looks very unusual wave count. hehes wave count looks much better. And wave 2 dosn't overlap wave 1 in hehes. Here is my wave count, I don't have a position i GBPUSD
snapshot
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Anand Shah
3 years ago
cant believe you called my stuff a joke ... this is CLASS son.

proof ... 2013 running a 78% P&L ;) check my ideas ... everyone has been a winner guys ... this is alchemy my friends :)
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RyanLatorre
3 years ago
Yea man its rylatorre@gmail.com
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