Short-Term.....Swing Trade (Set-Ups)

[shayb]

Hi All

ON GPB/USD IT SEEMS THAT PEPOLS ARE TAKING THERE PROFITS WE ARE GOING TO 2.0111 AREA IF THIS WILL BREAK WE ARE GOING TO 1.9974.

THE 2.0111 COULD BE GREAT FOR LONG A BREAK OF THIS PRICE WILL LEAD US TO 1.9974.

Shay

[marketwavez]

Originally Posted by shayb

Hi All

ON GPB/USD IT SEEMS THAT PEPOLS ARE TAKING THERE PROFITS WE ARE GOING TO 2.0111 AREA IF THIS WILL BREAK WE ARE GOING TO 1.9974.

THE 2.0111 COULD BE GREAT FOR LONG A BREAK OF THIS PRICE WILL LEAD US TO 1.9974.

Shay

Can you post a chart ? ....
So we can see visually awhat you are saying ?

thanx in advance

[byran]

Update on my scenario 1 ...

I have no idea if we have finished wave A or not
but it looks like a good place for a bounce .. if it doesnt go over 2.0230 we should still be in wave A down (w5 to 2.0041) .. bounce back as B then down to 1.1960 area.

I am still eyeing on a 100% retrace of my purple labels but dont have much confidence.

On a side note if the big AB (~1000pips) = big BC (with B=2.0370) ... then look downward to the 1.9370 area ... which would also complete a big WW on daily chart.

Am I right? or even close?

[marketwavez]

Originally Posted by byran

Update on my scenario 1 ...

I have no idea if we have finished wave A or not
but it looks like a good place for a bounce .. if it doesnt go over 2.0230 we should still be in wave A down (w5 to 2.0041) .. bounce back as B then down to 1.1960 area.

I am still eyeing on a 100% retrace of my purple labels but dont have much confidence.

On a side note if the big AB (~1000pips) = big BC (with B=2.0370) ... then look downward to the 1.9370 area ... which would also complete a big WW on daily chart.

Am I right? or even close?

hi bryan
good to see that you have a 5 wave count in a Wave B

-Tthis is what I was poiting out early on last week .
Goluntsleep really gave me hard time for labeling this as you know...

So again Its good to see you see that you now see it -

[MAXO]

Ok the cable is clear for all of us . That is EW chart for the EUR :

[marketwavez]

Originally Posted by golhuntsleep

Bryan I have to say your right in there swinging doing a great job!! Many times in counting waves we are better off deciding what a wave IS NOT...i.e. our discussion of this move up can no longer be considered a wave 4.......now your wedge looks good overthrow is never a problem as the pattern tightens late in a wave........do some homework here......1 of the rules of EW is that wave 3 CANNOT EVER be the shortest wave....is it in your example? if it is or it becomes the shortest.....your count must be altered. now remember also here I do not always have an answer to what a wave count is when we go complex.....I lose all intrest in chasing that rabbit.....so I'm not watching this p because any trade becomes "iffy" I trade the sure fire set ups waves that are totally readable.......so when the waves get to complex don't be afraid to leave a p to go find a p that is doing an impulse getting ready to correct.... trade the c wave of that correction if conditions are right jump on the impulse wave that follows.....as far as the pound I htly have no idea of a medium term count but my bet is on a short term chart you wil find todays move is a wave 3. look for the top to form then a 38% retrace in 3 waves jump in for wave 5.......until we get that scenario I will not be trading this move..It doesn't bother me in the least to miss moves that are not reading clear....theres another train comming into the station all the time to trade the set ups that are not clear.....Hope that helps some......

Golhuntsleep says top of a wave 3
then retracece 38% then a jump to wave 5
we got some kind of retrace today or pullback today it seems

so where is a chart explaining this visually ?

( o's chart just above may be what's breing explained here )
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[marketwavez]

Wow ! .............Success !
ALL TARGETS HAVE BEEN REACHED TODAY .....

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Gbp/Usd/

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- Trade set-up Monday this week

The Gbp/Usd -(Gbp) price entry of 0260 was triggered
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............Gain of 117 points today...............

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Original Post ............... Post #1363
http://www.moneytec.com/forums/f59/s...4/page137.html
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Short Gbp/Usd.....0260 ....................... 1st Stop...... 0300

1st Target.......0172........................ .2nd Target .......... 0143

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NO HINDSITE NO OSCILLATORS NO NEWS & NO MEETINGS

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It's all in the chart's ...............

[shayb]

Hi marketwave

It was only A posibilty that pepoles took there profit(nothing sure) we break trough a strong key support 2.0111 on daily chart.

now we are testing fib support 2.0066 if it breaks we will meet the next fib support 1.9928 if it will break we will have astrong move down to the next sk level 1.9755

but i am not sure that it will happen becaue the message today cause pepole to take there profit to strong move down another thing after checking the 4h chart we are on wave 5 therefore there is aposibilty of turning up.


i delted my analysis marked those points on chart.

What you think?

Thanks
Shay