GBPUSD

WaveSurfer wrote: The long is tradeable setup - but we have a bearish Harmonic in play..... see the BAT ?

this is on the daily chart and when the move occurs it will be extremely strong. similar pattern evolving on eur/usd.

so short term bullish - long term bearish. just something to monitor

dyor

Wavesurfer,

If you are expecting / anticipating (with TA probability!) that Cable will reach point D, then are saying GBP is bullish until around september?

3 months is a REALLY long term for a forex trader man!

The long is tradeable setup - but we have a bearish Harmonic in play..... see the BAT ?

this is on the daily chart and when the move occurs it will be extremely strong. similar pattern evolving on eur/usd.

so short term bullish - long term bearish. just something to monitor

dyor

dl.dropboxusercontent.com/u/40497882/GBP_USD_Daily_Harmonic.JPG

Im gonna go long from half way down hammer(1.5465 ) with stops below
Hopefully this may resume the up trend .???

dl.dropboxusercontent.com/u/4899609/usdgbp21stjune.png

im looking to short on a first attempt basis at the down trend line.(1.5421) with a 40 point stop.
This is for today as the trend line changes every day.


dl.dropboxusercontent.com/u/4899609/gbpusd5thjune.png

123 low are more important after a continued down trend with prices going lower. Like the example i showed on the audusd.
You can see how the 123 low played its part in this currency back in march after a long down move.
It can be used for shorter time spans as well as it can signal the short term trend reversal..

Is a 1-2-3 Playing out here? Or at the very least, a decent reversal.



Expert opinions welcome



Disclosure: I'm in from 1.52599 (about to unload, content with 1.53600, anything above is fish 'n' chip money ).