Timing is key
Long

GU Daily Looking bullish with confluence!

FX:GBPUSD   British Pound/U.S. Dollar
404 9 8
Hello all,

This idea illustrates confluence factors pointing long for cable. We have multiple FIB timing elements ie. 55, 89 time counts and 76.4% plus 38.2% Price retracements, along with a nice 0 - 3 Centre Line Reaction. I also have the current low ( if it holds ) as a P4 going to a P5. My experimental TIK fork confirming the Hit and rejection at this level is just one more reason I'm bullish on the Daily.
isomorph
a year ago
LMHO sure! why make it simple when you can make it complicated? unreal.
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Timing is key isomorph
a year ago
LOL, I can de-feature it and just have a target! but that will be boring:)
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No_more_Post
a year ago
nice, Thank you.
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Timing is key
a year ago
For those wondering ( or maybe not ) why the handle of the blue fork is there, I left off the line on the chart but it is taken from the P2 Horizontal level directly underneath the P1 vertical
snapshot
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David_Fan
a year ago
My analysis:
snapshot
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Timing is key David_Fan
a year ago
Yes possible 3 drives, Ant reason you didnt count the first swing as drive 1?
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David_Fan Timing is key
a year ago
That's because its Fibonacci ratios including 0.786 retracement and 1.27 projection isn't the same as the other two.
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Timing is key David_Fan
a year ago
I see, I have included it as a minor count of the (White) P0-P1 Leg which is a very common 3 count ( or 5 count if you include the tiny swing between (yellow P0-P1)). I do use FIB's but I am not rules based with them when determining counts. I just count! on the basic Andrews Premise that beginning with the 0 Pivot (P0) the market will produce 5 legs. I then look for certain chart patterns to determine trade location, one of the best being the P5 reversal. Thanks for your comments and nice chart!
+1 Reply
David_Fan Timing is key
a year ago
I know a little count of the wave. I don't think the P4(color yellow) is validated, because it is nearly equal to P4(color yellow).
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