Hi all,
I'd like to update my view on GBPUSD. You can find my prev. post on Cable here
http://supamanfx.blogspot.com/2013/09/gbpusd-11092013.html
http://bit.ly/15ZFZsN - Weekly chart. Coming near to triangle boundary, now acting as resistance, and previous support now turning resistance @ 1.58255
http://bit.ly/18Twf6F - H4 chart
http://bit.ly/1au47c8 - H1 chart
So far, "hypothetical" wave I of Ending Diagonal is larger than Wave III, Wave IV larger than Wave II, and bearish divergence make me expect final top would be achieved below 1.58544
I'd consider breakdown of 1.5754 as early bearish signal. Only below 1.5684 would make me turn strongly bearish on Cable and conclude the top is in place.
This wave count is invalidate above 1.58544
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UPDATED: Cable has put a spinning top candle, meaning a halt in upside momentum. More downside movement and the break of aforementioned 1.5754 & 1.5684
http://d.pr/i/lJdk - daily chart
Please give your comment on this. Thank you
Supaman_fx
Duc
Nice work! Congratulations!
Trả lờiXóaThank Zink :D Please float the word around to support this blog. I'm at early start :P
XóaIt does need a break below 1.5420 where wave c
Trả lờiXóacould be ending diaognal of seems to be a expanding flat in wave 2 of abc correction because wave B falls below the starting point of wave A and if this is the case the we will have extended wave coming up very soon
the best part of ur chart is the brief explanation
of the patterns of wave structure and this really
helps
regards