I think with the red count he is suggesting an alternate... Even though it doesn't make sense to me either, but I am not an EW expert.

Elliott wave outlook

No I am sorry. I do not have an EW count for E/J, but I do see it topping somewhere before 140.00... Maybe even here.

EurAnalysis

Next week we have the ECB on Thursday and NFP on Friday. From those two events we will know if the time is sooner or later. As I said, it all depends on data and CB actions.

EurAnalysis

The morons in Washington already tried the bluff and Obama called it. So it's not going to happen again, especially since the house will be having elections later in the year. It will be political suicide for the Republicans to pull the same crap as ...

EurAnalysis

No the Euro is not JUST Stop hunting, but yesterday it seemed to be. This is more about USD weakness on a corrective pullback. How far or long that correction continues is the unknown, but it should not last too long. Of course it is all data ...

EurAnalysis

The short squeeze on Cable and the stop hunt on Euro today weren't enough I don't see the Euro going much further north, but Cable has potential for a couple more hundred pips to as high as 1.6560 before a retest of the 1.5900 support and probable ...

EurAnalysis

Good write up. I especially enjoyed reading the last part... "Then there's the Bank of England's attitude towards a strengthening currency. They may not like it. And strong currencies are hardly fashionable these days among policy makers."

Cable Update (GBPUSD)

Every trade has potential for a win or a loss, so you can claim a roll of a dice for the Daily charts as well as the 1 hour and the 5 minute. The only difference is exposure time. However, when you trade in higher time frames with swing and position ...

Cable Update (GBPUSD)

80 pips short of my projection, but I figure that unless we get a mother of all short squeezes, that green 5th will probably fail to reach target.

Cable Update (GBPUSD)

Reminds me of a joke. A priest witnesses the town drunk speeding down the town street. He quickly jumps in his car and chases the drunk man to try and stop him before he injures himself or someone else. During the chase, the priest loses control on ...

Cable Update (GBPUSD)

Here is my count with two different and equally probable outcomes. The extension of the green 5th wave is in question. It may not have the fire power to get to 1.6563, but the rest is pretty much solid. Daily chart. image

The Club!

Or if market remains in risk supportive greed mode until next week's ECB pressie and/or NFP Friday.

Cable Update (GBPUSD)

Luis, what do you think of my new Cable count? image

Elliott wave outlook

Yep, lesson learned for you also. The two key disciplines I have learned are patience and money management. The rest is not possible without those two.

Cable Update (GBPUSD)

That strong divergence is a wait and see. It can easily work itself out with some sideways action on wave 4 blue of 5 green (blue count not shown). The key here is that the wave 5 green is a 61.8% extension of wave 3 green. That is the highest ...

Cable Update (GBPUSD)

My EW count for cable has now changed. This is the daily image

Cable Update (GBPUSD)

They look like weekly pivots to me.

Cable Update (GBPUSD)

and a good night to you also Sir TT

Cable Update (GBPUSD)

Ahh I see. So you're the bugger who is preventing it from racing back up to take out the short stops at 1.6350

Cable Update (GBPUSD)