FX:GBPUSD   British Pound/U.S. Dollar
306 29 1
nuff said.
Monk
3 years ago
there is also a variation on this in that after 2008 w3 crash there was a zig zag of abc. So instead of where i have labelled wave 4 that should be w2 of larger 5. either way folks... beat the bear drums! the toughest part is getting in on a shorter time frame without being whipsawed to shreds. so even if we are 99% certain of what to expect, we can still lose :)
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KevinT Monk
3 years ago
True! The whipsaws are viiolent lately.
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Monk KevinT
3 years ago
i just want to short but i cant!! so annoying... im looking for a push higher and for it to stall around 1.55 or 1.56 ish...
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Monk KevinT
3 years ago
what i'll do is count the waves up from where we are and when i see what i think is a 5th wave in a supply area with a few oscillators at overbought, that's when i'll enter
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KevinT Monk
3 years ago
I have too little knowledge about waves. But what I see now is the lower Fib offers excellent support. For short term, better wait for 1.572 area to short.
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Monk KevinT
3 years ago
go to the chat area... ive posted some charts there which relate to 1.572... let me know what you think...
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KevinT Monk
3 years ago
Yes, I see you've been really bussy. It's 01:56 here now. My head isn't clear enoug to digest that stuff. Will look at it tomorrow.
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Monk KevinT
3 years ago
haha gn :)
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KevinT Monk
3 years ago
For now, as it's in the channel again, I tend to be bullish for short term.
snapshot

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Monk KevinT
3 years ago
snapshot
??
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KevinT KevinT
3 years ago
The tough thing for this pair is, short term there are multiple possibilities.
snapshot
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Monk KevinT
3 years ago
1.55-57. the lower target is too close i think given the wave count.
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KevinT Monk
3 years ago
Look what I just discovered
Support resistance hit
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Monk KevinT
3 years ago
yes ive seen 1.528-3 as resistance, but im expecting higher because i think the dollar needs to flush down a bit more. im using the dxy chart and a wave count. still needs more downside - look at stochastics on dxy... i'll show you hang on...
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Monk KevinT
3 years ago
snapshot
needs to unwind more i believe. this will push up GBPUSD. but i expect the dollar to bottom around 80.5-81.25
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Monk Monk
3 years ago
notice in the last uptrend it was overbought but price didnt retrace much... this time round we have overbought but we had a big dump in price today... hmmm... that's why i think more downside as well as the wave count.
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Monk Monk
3 years ago
anyway gn... im off out in the sun!! :) thanks :)))
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KevinT Monk
3 years ago
Where r u from?
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Monk KevinT
3 years ago
Bournemouth in UK... but living in Sydney! gotta go... lets catch up on chat soon :) thanks for your help :) - be careful on the EU short!!
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KevinT Monk
3 years ago
Ok. C ya soon.
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KevinT KevinT
3 years ago
draw a line from 20 June low to August low.
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KevinT KevinT
3 years ago
snapshot
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KevinT KevinT
3 years ago
2 blue lines
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Monk KevinT
3 years ago
holy $hit yes! 81.12 ish!
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KevinT Monk
3 years ago
I'm focussing on the other blue line actually....rebound USD on Monday.
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Monk KevinT
3 years ago
i think what im going to do is scale in small once it hits 1.55
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KevinT
3 years ago
Hihihi.......

Long term bearish
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KevinT
3 years ago
Short term chart I posted a month ago.
3 possible target areas
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sunny
3 years ago
Please see my 4hr view -
another channel for GBP/USD
I'll start selling with you now that I've lost interest in AUD/USD :)
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