move down to wave c 161% from a-b
They have tried to repair the already broken cable but despite this, after several attempts and years of trying fixing it we are now at the offcial beginning of a major downtrend of the once oh so royal currency.. NOTE Technical analysis is very dangerous to rely on, seen the politcal position of the US and the UK in the world alot of FUNDAMENTALS can have...
This is just my 2 cents. It will go back to retest previous support and go back down after. unless it goes down and break previous monthly support. on monthly chart previous years that is the support and yet to be break. COMMENT me if i'm wrong and enlighten me please.
An analysis of which LONG has the best value against the short GBP to play the Brexit. [ - GBPUSD has a target handle of 1.385. - GBPJPY target handle at 1.483. - GBPCHF target handle at 1.335 . - IMO currently i rule out GBPUSD short, as USD doesnt have the same "risk-off" demand as CHF and JPY. Also USD and GBP economies are perhaps the most highly...
This article is a tradable summary of all of the indepth GBP$ analysis i have done recently - I aim to give you a conclusive opinion and trading plan. SEE PART 2 ALSO I suggest you check out ALL of the relevant articles that i attach to this post so that this post makes sense In a nutshell i am heavily short GU, about 8-9/10 @1.44/5 (@1.41 only 2/10) -...
I suggest you check out ALL of the relevant articles that i attach to this post so that this post makes sense SEE PART 1 ALSO GBPUSD historical Price Action The findings of previous the attached "Price action history posts" led to the conclusion that referendum history clearly wasn't repeating itself however IMO because this is the case it has opened up...
On the 1D time frame, a strong positive correlation relationship emerges - where previously on the 4h time-frame the correlation looked relationship-less and "noisy". However, looking back at the Daily correlation over the last 2-3 years for GU and EU one noticeable and significant trend emerges - A steep fall in correlation, either from positive-lower...
$ Unemployment was soaring lower at 4.7% vs 4.9%, but markets went for the NFP print instead though - taking it as dovish for the $ pushing it lower. I think on the other hand this provides a great opp to sell the GBP or EUR topside Extremes at 1.451 and upwards as the fed considers unemployment as its target NOT NFP prints, i actually think this EMP report was...
GBPUSD closes below the 95% reversal SD Channel line, also LSMA gains momentum past price action indicating a pullback is close.. Short term is bullish but no interest in GU topside. INSTEAD we let the bullish technicals play out, hopefully carrying us back to 1.465-7, then we SHORT from these levels where several resistance levels lie and volatility resistance...
This is the 1 hour time frame, I needed to follow something on a smaller time frame. Waiting to see if price breaks that black trend line for a move down to the bottom of the channel or if it touches and price heads north to touch or breakthrough the downtrend monthly channel. Until I see either of these happen I'm not going to touch GU and with US being closed...
This is a long term outlook on GU. I'm expecting GU to touch the red downtrend line, if it breaks through I'm expecting it to reach the top of its current monthly key level zone around 1.49 From there it will move back down to around 1.34983 a previous low. Lastly going back up reaching the 38.2 fib level around 1.514 I'm expecting price to smash that wkly key...
Always make your trades risk free at 1st chance you get
Neutral Follow Eliot : Create wave pullback 4 and wave bullish 5?
GU well exceeded my resistance level when the EU interest rate decision was announced followed by the speech. Due to this, my initial trade was stopped out. I have re-entered here at the perfect time where I will ride the price down to 1.41855, near previous support.