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GBPUSD,W1 Chart Discussion
gtnew
May 20, 2015 at 18:11
Nothing yet. I'm looking at the 4hr chart. There is a cup w/handles bottom neckline which coincides with the more recent rounded top. This should resolve itself one way or the other within the next 24 hrs.
randych414
May 20, 2015 at 18:12
we are waiting for your signal :)
gtnew
May 20, 2015 at 14:34
1.5478 is important level on a closing basis. This looks like a spot to employ a breakout strategy. Get ready to go either way.
randych414
May 20, 2015 at 15:22
ok Boss :)
gtnew
May 20, 2015 at 12:33
For now GBPUSD is holding the rising 20dy ema. BOE kept policy unchanged. Traders will watch FOMC minutes for dovish/hawkish bias.
gtnew
May 19, 2015 at 18:54
Tomorrow morning BOE minutes and later on in the U.S. session FOMC minutes. Investors will watch FOMC closely for any hints of interest rate moves. Right now the FOMC is confusing people.
CrazyTrader
May 19, 2015 at 15:20
I declare myself noob trader closing my winning trade last night.... missing too many pips!
nanotrade
May 19, 2015 at 14:22
Fantastic fall! I wonder if there will be rejection by big W center point or we are going way down to 1.50 if the wave is already broken
CrazyTrader
May 19, 2015 at 15:19
Yes, market will say this pretty soon... thx
gtnew
May 19, 2015 at 17:09
Crazy, I hear yuh! I do that too often myself. The only way I personally can cure that is always to trade multiple positions and then scale out of them.
gtnew
May 19, 2015 at 14:00
Boom! Dropped back to the 20ema. Nice call CT! By the way if you're counting waves with the numbers, it doesn't look quite right. Bottom of wave 4 can't overlap the top of wave 1. I'm unsure of wave count at this point.
CrazyTrader
May 19, 2015 at 15:18
Yes I know that... I'm not elliot waver, this is just to give quick idea about potential movement.
gtnew
May 18, 2015 at 17:52
Band squeeze developing on th 4hr chart. Got a move coming. Doesn't forecast direction, just volatility.
gtnew
May 15, 2015 at 18:36
BOE Policy minutes next week and several important data releases.
gtnew
May 15, 2015 at 16:40
Weak US data has caused indecision. Have to wait until next week.
