The picture in EUR/USD is similar to the cable....

Attached Images

 

Gbp/Usd

--------------------

Attached Thumbnails

 

Could be, that we are now in final thrust movement.
But in order to reverse the cable needs now to go above 201,100 and to do it today.
Or, the other, the best way, we see 5 waves north on the smaller time frame

Attached Images

 

The corrective pattern continues, currently it looks like a double zigzag. I look to go long on the break of 109.3.

Attached Images

 

Your chart looks very plausible. Friday might tell if we can break higher it would confirm.

The only thing i don't like with this count is that we all seem to follow the same.

We desperately need some alternate count(s)

Attached Thumbnails

 

I guess sometimes that happens with technical analysis. Tech traders and chartists tend be have their "own" herd mentality.

The GBP is a very confusing market right now. New lows daily but really not by too much. Stops being run as I write, 1.8230.

When the bottom hits the turn should be violent to say the least. Short covering, new buying, momentum buying, whatever.

rt on. I have been following the posts on the GBP and I keep seeing the same stuff with no heading and clear forcast. I thought at least what this forum is supose to do, isn't it??

GL and have a good weekend,

60 minute CHF. Possible top here with another rejection of the 1.25 area. We exceeded it and took out stops BUT, there is a divergence at this high. If the reversal holds it may be time to be short. Obviously, we have a long day still ahead and we could just be testing the breakout and still go higher.

Follow-up to previous post. New high made but I'm not sold on this move. Very thin markets with holiday trade. No 5 up more like another ABC. Legs are equal. If we can't hold the breakout at around 1.1025 it will look even more suspect. Ideas?

Interesting chart I found for stock market traders.

Well I definate did not see that coming in the Swissie my stance needs to be shifted back to neutral for now. Long term dirction is clear...near term, is not so much. Today we tested that 2-4 trndline yet again taking out the former highs. The trendline continues to be resistence which Im sure some bears may take as encouraging, however, the bear count for now looks a little awkward. Here it is...but be foreward this count also be a III of V of 5. The monthly chart (not shown here) has has a resistence zone begining at 111 which I found funny we never hit. Anyhow, until we break through that 2-4 trendline, bias is still bearish. Unfortunately we need to wait till next week to see who wins this battle.
(bull count is in blue)

Have a good weekend!

Well I definitely did not see that coming in the Swissie my stance needs to be shifted back to neutral for now. Long term direction is clear...near term, is not so much. Today we tested that 2-4 trendline yet again taking out the former highs. The trendline continues to be resistance which Im sure some bears may take as encouraging, however, the bear count for now looks a little awkward. Here it is...but be forewarned this count could also be a III of V of 5. The monthly chart (not shown here) has has a resistance zone beginning at 111 which I found funny we never hit. Anyhow, until we break through that 2-4 trendline, bias is still bearish. Unfortunately we need to wait till next week to see who wins this battle.
(bull count is in blue)

Have a good weekend

Italm,

I hear ya BUT, remember we are talking about picking TOPS & BOTTOMS. Need to take some calculated risks. Sale against a new high here or a stop at 1.11 above the old high.

GbpUsd

Woke up this morning to this ,,,,,,,,
- Price action violated the low of the End of Wave " B "

this trade set-up is over now
----------------------------------------------------
//////////////////////////////////////////////////////////////

Attached Thumbnails