I hope I´ve attached the chart correctly.....I think this is a good possible current count.....the Asian session always causes problems as so little happens

Cable Update (GBPUSD)

According to EW theory, W4 should not move into the range of W1. IMO, off my count, W3 has not completed yet....needs to go above 9600 - or below 9518 to become invalid

Daily Cable Analysis

UK GDP was in line with the forecasts, so the spike down didn´t get any follow through. The Euro has 2 long wicks below on its 5m chart....indecision GBP´s just got back above its 5m 200EMA, but the Euro´s 10 pips under its 200EMA and the Swiss is ...

Daily Cable Analysis

Agreed and I think that answers the question as to why there are two threads.....rant and rave in the other one, keep your cool in this one. image

Daily Cable Analysis

Closed at 9596 after the spike to 9600....I´m not seeing enough support from Euro and Swiss to push on up at the moment. I´ll watch to jump back in if I see that situation change. 9619 is still my first W5 target, but it needs good momentum to break ...

Daily Cable Analysis

Fake out? — I´m hoping that was a fake out. Euro and Swiss are now supportive. Partial long at 9560, with tight stop, will add above 9568. NB This only my opinion.

Daily Cable Analysis

I would also add that the current prices on 5m charts relative to their 200EMAs are not supporting a continuation of the rally: GBP +4, but Euro -4 and Swiss +8 and also at its 1.2400 level

Daily Cable Analysis

EW on 5 min chart — Thank you Monarch for not only starting this excellent thread, but also for puting up with many unhelpful comments and for coming back and continuing your first rate analysis. I see that the Asian session has had a low at ...

Daily Cable Analysis

[quote=Traex;225480]Took 2nd profit at 1.9600. Left 1 more part of long. S/l tightened to 1.9525. Can relax abit now. [/quo Great trading. I think I was wrong about my W3 high...the retrace was too small, so I´ll move to 9600 as my W3 high. That ...

Daily Cable Analysis

Mm...9582...quite close to target. Now for W4 down over NY lunchtime..9553 or 9535 are likely targets then on up and above 9600's possible...

Daily Cable Analysis

Thanks Tra-x for the nice analysis. Off todays 5m action, I can see the possibility of a smaller wave 3 rally currently in progress - provided that we get above this morning´s high of 9535. Started at 3:35, 9461 up to W 1 H of 9518 at 4:35; down to ...

Daily Cable Analysis

From the Frankfurt Open, the Europeans took cable down and after the London Open, the Brits only managed a further 12 pips down in 35 minutes to bounce off the 78.6% support of this weeks range. This bounce has stalled at the 78.6% retrace of this ...

Cable Update (GBPUSD)

Dawn wasn´t due here in Spain for another 30 mins when my room was flooded with light and I had to reach for my shades....LOL....great chart....its gotta break out soon....but which way...

Daily Cable Analysis

Hi Todd - may I second your request....I´m actually looking to put EW moves onto an MT4 chart. In other software you can click and drag from one TP to the next and have the EW numbering come up plus a line joining the TPs. That would be VERY helpful ...

Elliot wave indicators finding

woops....that was off a 60m chart from Monday´s low - but still valid Its getting complicated....5m showing a potential move down. IF it breaks to new lows today, that will target a move to under 9450 But so far, cable has not followed the Eruo ...

Daily Cable Analysis

Sorry..busy with trading now, but my 15 count is: 0 = 9435 1 = 9548 2 = 9478, so still in W3....just

Daily Cable Analysis

I dont think your wave count is viable - Wave 4 should NOT drop into the range of Wave 1. This invalidates the count. I do think that there is a viable Wave 3 still in progress on a 15 min chart - that will only become invalid IF 9478 is broken

Daily Cable Analysis

Hey man, dont give up on the 15min wave 3 just yet....it needs to break down thru 9478 to invalidate the count. So far all we have is a failure of the 5min wave 3 and looking at all those tiny little candles after the first BOE driven fall, not ...

Cable Update (GBPUSD)

Thanks for the link, now I know what a pin bar is.....a doji or spinning top = exhaustion. Now to see if the BOE release will complete the 5 min Wave 3 - targets 9623/646/684.

Cable Update (GBPUSD)

You might try using the actual price pulling back to one of your MAs rather than waiting for the MAs themselves to cross. I find that this is a much clearer method than waiting for the actual MAs to cross. I use this on 5m and 1m charts, together ...

Daily Cable Analysis