Like Euro like Pound. Well, this may not be the case when the US Dollar is in a sideways market and/or the EURGBP is in a trend. Nevertheless, let’a analyse the Cable using the same top-down approach used in the EURUSD weekly outlook analysis. GBPUSD Monthly Grand Supercycle (green) Wave-Y of WXY double-three Supercycle (blue) Wave-C of ABC ZigZag Trend … Read more
After going through the same charts and waves week after week, there is a chance that we could lose sight of the bigger picture. Getting glued to Daily and below timeframes is a common habit for most retail traders including myself. But its ok, as long as we don’t lose sight of the bigger picture. So … Read more
Correction of the Cable continues Like Euro like Pound. I don’t usually comment on correlation of instruments. Because correlation is subjective and hindsight. Though in this case a different type of correlation has emerged between EURUSD and GBPUSD. That is because Euro and the Cable are both dancing on the fence between a triangle and a ZigZag as the … Read more
Undecisive wave structure Yes, I had to eat the humble pie on EURUSD last week. Fortunately, there was no set up to go short as the hourly structure was never violated to the downside. On the other hand, even if it did, the entry would have been conservative given the possibility of the overall ABC … Read more
Have you ever been in a situation where the market reverses in the opposite direction, as soon as you enter a trade? Have you ever wondered, “only if I had taken the opposite side on all my trades…”? Do you feel like the market is always against you, no matter what? If you answered yes to any of … Read more
Correction continues GBPUSD continued to be bullish during last week with a net of approx. 180 pips. But this does not yet invalidate the triangle structure. However, the more momentum price gets to the up side, more likely the corrective structure will be a ZigZag. One hour chart The ongoing correction has a long way … Read more
A volatile week for EUR/USD EUR/USD managed to produce a measly net move of 24 pips for the whole of last week. Clearly the market failed to show a directional bias. But the volatility was off the hooks, mostly towards the end of the week. So there were sharp intraday movements to both sides. With NFP on Friday, we saw … Read more
Bears are awake EURUSD started to decline quite sharply, as expected in last weeks analysis – EURUSD weekly outlook – 22nd – 26th August 2016. However it is too early to conclude that price will reach the bottom structure levels with a single impulsive wave. At best the wave will be less choppy without anymore deeper corrections. But before all … Read more
GBPUSD is at the verge of a very lucrative trading opportunity. If you remember, las week I posted about the possible bull market continuation. If you missed it, here it is: GBPUSD Elliott wave analysis and weekly outlook – 22nd – 26th August 2016. Although we got the bull market, we did not get the expected deep pullback. On the other … Read more
Correction in Cable continues GBPUSD has shown signs of a final C wave in progress, to complete an ABC correction in the Intermediate degree. The issue with US Dollar pairs is that most of them are within large corrective structures; mainly because the Dollar index is in a large corrective structure as well. Fortunately we have the Elliott … Read more