If the B wave is now in, then new level to buy from is (Wave C) 1.6411 Not confirmed yet, but looking likely. G/U H4 image

Cable Update (GBPUSD)

Agreed. Very strong indeed. ...amd H4 is looking for a base to launch

Cable Update (GBPUSD)

I fully agree with you on that, but I was not using M5 to forecast trend. Only to look for best entry to go long. Here is the H4 view image

Cable Update (GBPUSD)

Here is what I am thinking re my first scenario. G/U M5 image 2nd Scenario G/U M5 image

Cable Update (GBPUSD)

USD/CHF has just reached the H4 demand zone so we should see a bounce from here. That should put some pressure on Cable. Regardless, I'm not trading any of this. I am only awaiting a nice place to buy. Corrections are too unpredictable to trade ...

Cable Update (GBPUSD)

Looks more like a bearish flag to me representing the B wave of a downward ABC zigzag correction. My downside target remains at 1.6418 to 1.6388 area to complete wave C. image ADD: This is only valid as long as 6520 holds the line. If price pops ...

Cable Update (GBPUSD)

If they thought they would never be caught, they were stupid. Dead bodies eventually float to the top. The sick part is that current governments never worry about their actions because it is always some government in the future that will pay the ...

The Club!

Well. The "getting fired" bit was more of a figure of speech. The point was that intelligence is key and has always been. It gives you an advantage by eliminating many chances of surprise... not only from enemy nations, but also from terrorist and ...

The Club!

100% Fib extension of a 3 wave correction puts the target as low as 1.6379 G/U H1 image

Cable Update (GBPUSD)

It's always been this way. If you were a military commander and you didn't know what your allies and your enemies were doing, you would be fired. The internet just makes it easier.

The Club!

If we can get a break and hold below 1.6455 today, then my scenario will play out with a target between 6388 and 6418

Cable Update (GBPUSD)

Yes interesting. We shall see.

The Club!

Cheers... and best of luck. In the future I would strongly suggest that you ignore what others say and stick to what you do well.

Cable Update (GBPUSD)

After looking deeper, this is what I see as a good probability. G/U H1 image

Cable Update (GBPUSD)

. I would not say "CANNOT". There is no such thing in this business. However, chances are that we see 1.67 first, and then a correction which "MAY" take us as low as 1.61xx There is also a chance that we may run into psych resistance at 1.6500 and ...

Cable Update (GBPUSD)

Eventually 1.44/45 area by the looks of it, and then down to hell (1.10/1.15 area)

EurAnalysis

Either way works for me, but I cannot ignore the divergences on the daily chart. They tell me that a correction is not far off and therefore to be cautious with aggressive longs. I guess you can say I'm being conservative. image

Cable Update (GBPUSD)

Davit. I am sure you will get out of your shorts with a nice profit once we see that correction, but the trend (for now anyway) is up. No doubt there. Anyway, this was the retail crowd situation at dailyfx.com on Friday... GBPUSD - The ratio of long ...

Cable Update (GBPUSD)

I think we will see around 1.67 before correction... and in thin markets, it's even possible to see higher before we get a correction. So, if I were in your situation I would take advantage of this dip and buy. However, it's your account and your ...

Cable Update (GBPUSD)