Yeah, if i have a deeper look on the chart, it looks really like a downday to me. I would expect a rise now before of the news, then more down to Support 2. We will see. I will ask my crystal ball.

Cable Update (GBPUSD)

Well, in my opinion the low before the news is reached now.

Cable Update (GBPUSD)

I expect a little more down move (Wave 5 on M5), then a sharp retrace and on NY Session a stronger GBP. I see it this way: The big boys searching for a better buy point.

Cable Update (GBPUSD)

Couldn't resist to go with the crowd. Well, a fibo extension from the london high to the noon low and up to the noon little high said FE 100.0 is at 1.9502. It has not completely reached it, but near is always good enough image

Cable Update (GBPUSD)

Well, possible it will come back... we will see. Its crazy so far.

Cable Update (GBPUSD)

By the way: I used a special data analysis technique which was right 3 days in a row and now 1 day more. It told me yesterday that there would be many ups and lows before the price will reach a specified price. And now it tells me that the price ...

Cable Update (GBPUSD)

Yeah, have nice holidays monarch. Call me crazy but I'm still in a long mode. Because my indicators tells me this. See here, these EMAs tells me it is heading north. The dark-green EMA will go through the black EMA. And we have still not got the ...

Cable Update (GBPUSD)

Retracing to 61.8% or 76.4%, then higher as the last high.

Cable Update (GBPUSD)

Well, seems they waiting now for the last news today. @Monarch: I said I will explain if it come true. It has not yet.

Cable Update (GBPUSD)

I expect a move down now, but not lower than the previous low. If it will come true, I will explain.

Cable Update (GBPUSD)

There are now two possibilities here in my opinion: - Market makes a retrace 61.8% and moves more up. - Market moves up until around 1.9685 (average daily 130 pips) and makes then a big retrace.

Cable Update (GBPUSD)

I have the indication that the reaction of the market will not be what everyone is expecting. There could be a lower drop, but I expect that the market will move up in the end, with many retracements inbetween. I'm long at the moment. Sounds crazy, ...

Cable Update (GBPUSD)

The crazy think is: When the news are good for US and it is expected that anyone will sell, why we are so low now? I expect a retrace to 61.8% or more from this low up, before the news comes out... OR the other way around, a bit more down and then ...

Cable Update (GBPUSD)

Hm, it has not touched the 161.8% extension sitting at 1.9546. Interested to see if it will do that. Is this a 5-wave down or an ABC correction?

Cable Update (GBPUSD)

The news are priced in if you talk about Waves. See the NFP, the big boys trade how they want it, regardless of the outcoming news reports. If you trade EW, its like a self-fulling prophecy.

Cable Update (GBPUSD)

Because not everyone uses here the EW theory and not everyone sees the same. Sure, it could go up as high as 9743, because of a fibo 76.4 % from the absolute high to the last low. Could be reached or not, we will see.

Cable Update (GBPUSD)

If you draw a fibo on the daily from the very lower end when this big move up trend began, we reached the 23% but not the 38%. image

Cable Update (GBPUSD)

I'm not sure about what I perceive. Is it possible that the big move down in 5-minute chart was Wave 3, then move up Wave 4 and now comes the Wave 5? But I can't see a Wave 1 and 2 (Wave 2 would be higher than Wave 1 and it seems thats not EW-Rules ...

Cable Update (GBPUSD)

Don't know if it makes sense but I imagine a Wave 5 too. Up to at least 1.9704. That would be around 130 pips from the low today. I trade only intraday.

Cable Update (GBPUSD)

I know its told "trade what you see and not what you think", but I've had bad experience with that and therefore I think price will reach 1.9433 or a bit lower today as a low on or around 16:00 GMT and will not go higher than 1.9567. It looks like ...

Cable Update (GBPUSD)