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发表于 2009-4-6 07:41
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Cable short term trade setup

Here is my short term trade setup for the cable.
Obviously it is the weekend and a gap can occur.
However, as an example this is a way to trade shortterm with the help of Elliott Waves.
Watch the trendline, the price is currently in an ABC correction and forming a wave C. Wave C van run flat against the trendline, or break towards 1.3900. Watch the bounce of the trendline, that would be your entry. If it breaks, wait for 1.3900 level for support. A bounce of 1.3900 would then be your entry.
The first target is 1.4100, that is a psychological resistance, the second target is the 1.618 extension of wave 1, which would be 1.4150.
One way to trade it is to open 2 contracts, one for each target. Use your moneymanagement wisely.
A drop below the start of wave ii would invalidade this trade.
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Filed Under: gbpusd
5:34 AM
GBPUSD Update March 13, 2009

[size=85%]For those of you who have been trading my GBPUSD count, congratulations, you have made a few pips!
[size=85%]We are entering a cluster of resistance and so I am expecting some corrections.
[size=85%]I closed out for almost 400 pips profit and call it a day, since it is Friday the 13th...
[size=85%]Next week I expect a retest of the neckline on this head and shoulder pattern. The neckline is at 1.3900.
[size=85%]I will buy the dip.
[size=85%]If it holds, we will go up further, 1.50 is a good initial target.Also look at the MACD. It is opening up indicating momentum and it hasn't crossed into the positive yet, which will happen and round downward again when it is well in the positive.
[size=85%]Good luck!
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Filed Under: gbpusd
12:47 PM
Cable Update March 11, 2009

The cable is following EW to the tee and has been for a while now. We went long yesterday and hopefully this turnaround will last for a while.
The flat scenario will put us at 1.49 and change. If I look at the MACD and see the last similar move it gained about 1100 pips.
That would put us in the 1.48 area and change, so a flat is very possible.
Also, a Head and Shoulder pattern maybe forming, keep a lookout.
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Filed Under: gbpusd
12:42 PM
GBP/USD Update


One more wave down...Its a B wave, they can retrace all or even more than wave A. After B comes...C! If this is correct a big turnaround can be expected.
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Filed Under: gbpusd
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