GBPUSD (6B) - Intraday Forecast

FX:GBPUSD   British Pound / U.S. Dollar
Hello, Dear Traders!
There is a difficult situation! Despite the apparent formation, of prospective "Leading Diagonal Triangle", the situation remains uncertain and significant. At the moment the situation dominates the higher timeframes. We say very carefully, that the Wave theory, fundamental analysis , according to the Volume , Delta&Cluster, says descending tendetsii in any case, until a significant core of Buyers.
Merry Cristmas&Happy New Year!
We wIsh you, all the Best! ;)
Sincerely yours, Powerful Traders!
Long Term fundamental opinion from Deutsche Bank on The Pound:http://www.telegraph.co.uk/finance/currency/12065157/Pound-is-most-overvalued-currency-in-the-world-analysts-claim.html
+1 Reply
Hello Trader Robert Herdman! Thank you for an interesting article! I fully share, the opinion of Deutsche Bank.
Not an expert of wave count but had same idea similar to yours.
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Hello, Trader Fx Saint! We also aren't experts...) The market is also strongly hits us, but not as often as before...) Yes, our ideas are similar! ;)
I have similar prop.
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Suggestion only...
Use W-X-Y instead of 1-5 counts.
I will avoid forcing a-b-longer c with the 5 waves count (eg: 5? (red) ... more appropriate to an X wave form which is sharp and as a link to next group of waves)
GU is in a complex correction mode. It is why I don't take this pair at the moment...more headache. All the waves are in threes. With w-x-y I am sure u'll be easier navigating it.
Anyway...nice EW counts. like it.
Hello Dear Trader Romeo! No, we do not use W-X-Y anywhere! In this case (6B), suppose that we have an accurate model of LTD (Leading Diagonal Triangle). The Rules of LDT described exactly in "Wave Theory of comprehensive course on the Wave Principle" - A.J. Frost and Robert Prechter Jr. LDT has formula (5-3-5-3-5). Between the impulses, correction is varied and may take any regressive forms and models - zigzag, double zigzag, tripple zigzag, flat, double three, triangle, irregular and many others combined forms. We can't go by the way of our vision and understanding of the mind, we have to go by the Rules and Principle of Elliotte Theory. Please, if you give us your email, we send you three EWA/EWP for the global charts of GBPUSD. We are confident that you will immediately realize that there is not anything complex. Sincerely yours, Powerful Traders.
Too many variables to be taken into consideration . Triangles, waves, fundamentals, volume and delta&cluster. And these are only on this charts. You have far more on your other charts: pitchforks, wedges, flags... These variables lead to almost infinite number of combinations. Did you backtest all of them? How do you know they work? Please do not be offended with my words. I do not have a desire to rebuke or to blame you. If you are unimpeccable then nobody can critisize you. Think of it, mate. Happy New Year.
+4 Reply
Hello Trader Alexander_Nikitin! You are right, everyday, we have too many variants on a Market! But that's a huge force! We always combine all the proven methods and forms of analysis! First of all, we are monitoring more than 20 derivatives for better understanding of intermarket analysis (John Murphy) and true currencies moving! It's very important for sharp estimation. Secondly, fundamental analisys it's our old Friend, we attach great importance to economic base in local or global aspects! Due to the fundamental evaluation, often helps in the recognition of the truth from the speculative lies intraday. You also noticed, that we are using a lot of models of technical analysis? But it is also necessary to determine the market primitive figures within Euclidean geometry, and they work fine! Third... The Wave Theory! It's the universal code and we don't afraid to say, that it is a Grail in any form of trading. "The Wave Principle is a description of the dynamics of collective emotional change." - Robert Prechter, Jr. Volume, Cluster&Delta, Footprint, Depth of Market, Bid&Ask diferrence, it's Impulse, Heart and Breath of Present Market! At last, if you perfectly know every working methods of trading, it's an excelent! You can be a Strong and Powerful Trader! Happy New Year!
Sorry for the grammatical error! Mistake "tendentsii" - tendency.
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