tntsunrise
Long

GBPUSD WAIT FOR THE ABCDE TO COMPLETE

FX:GBPUSD   British Pound/U.S. Dollar
3596 17 117
GBPUSD             WAIT FOR THE
ABCDE TO COMPLETE

I won't long gbp now
i ratther wait for it to go down one more time
1.4129 is a level i am interested in
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good dear... what about this. i think this is already trand line corss...
Reply
JamesBrown PRO Qasimshahzadgt
Trend lines have pull power, just like horizontal resistances that have been tested have pull power. The difference is that S/R lines are static, while trendlines aren't.

My point, price tends to be pulled- back quite some distance after breaking through them. A logical point to buy into that pull would be an opposing trendline, which happens to be what the bottom of the triangle that Jack is targeting.

You want a low probability, high risk, trade, then trade merely the breakout of an old trendline. You want a high probability, low risk, trade, then wait for a high probability pivot area. That's what this trade set-up is, in a nutshell.
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infinitum JamesBrown
can I get a mean 'ol James Brown "HEY!"
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Ayahhhhhhhhh! I feel good...I knew that I would...
+1 Reply
Good~!
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when is it going to that point 1.4129 ?
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can we sell for this ?
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how long does it take to go from D to E?
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Thank you Tntsunrise. Given the RSI value on the 4 hr chart I am taking the sell for at least part of the trip to point E.
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gbp will fly if the news positive today , i hoping for positive news
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how come that "E" is down !? abcde is a correction pattern
"E" suppose to be up so the price complete the direction
+1 Reply
crncy PRO MohammedSolaiman
good point.
+1 Reply
in spite of the grexit discussion, you have bullish sentiment in favor GBP?
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sanmed02 kfrivaldo
there is a bad news for a GBP ! I don't think so
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Jack....just wanted to say your one of the best at explaining the ideas out here...a big thank you
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guan zhu yi xia ao ba ma fang ying
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