GBPUSD

I've used this channel line to take profit from my short trade, and now we have another setup ready move lower, another fakey pattern just about to trigger below 12265 and 12226 stop 12414

gbpusd - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...Qo9%2FYZWPGLByCQI%3D

Not quite a perfect trend channel bounce....but 1.2180/1.22 was target before a bounce as per the chart from 26 sep....and 1.22 was todays low...

The second test of that level and channel could be interesting....still more down here imvho....but lets see...

atb, wdik, dyor,
trendfriend

Trendfriend wrote: gbpusd-daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...aSS1pFbeSIDa+7MEyEo=

with 1.24 and 1.2350 both busted, while below those two numbers, the next target around 1.22 imvho...

i think a drop below 1.19 the recent low....should see that 1.05...
the other views seem extreme....but then so is the politics atm!!!

so who knows...

atb, wdik, dyor,
trendfriend

Indeed TrendFriend (another quality post).

Cable retreating back to 1.20 (liquid heaven) is on track - albeit slowly.

1.09 is talked about a lot, but I'd repeat what I said about extreme projected scenarios, a breach of 1.05 is going to be a bigger issue than simply banking a very healthy profit.... This is a game-changer in a different way.


Corrections, Trades are completely separate to "re-evaluations" - which is what would happen if Cable breaches 1.05 or thereabouts.

A couple of former colleagues, one from South Africa, the other from north Africa (Tunisia I think), pointed out to me the difference between a correction and re-revalutation of a country's currency:

The SA Rand was trading around 6 to the USD a few years ago, before reaching 16. What are the chances it would head back to single digits? It's done for.

The Tunisian Dinar (I think?) was trading at parity with the USD a few years back, now, it's 3:1. What's the chance of re-balance? It's done for.


Living costs & conditions in those nations have resulted in declines, for the USD is the money-stick the world abides by (for now at least!) - That's why I'm apprehensive about potential gains on a cable trade. I'm nervous about looking away from the trading statement and onto what's happening outside

Wishing everyone here profit and prosperity, and above all, Peace!

gbpusd-daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...aSS1pFbeSIDa+7MEyEo=

with 1.24 and 1.2350 both busted, while below those two numbers, the next target around 1.22 imvho...

i think a drop below 1.19 the recent low....should see that 1.05...
the other views seem extreme....but then so is the politics atm!!!

so who knows...

atb, wdik, dyor,
trendfriend

Both scenarios are brutal, (the first one could be very interesting / rewarding),

but that second one....

That - That - could make concerns change way beyond financial gains in the market.

According to Elliot waves there are to potential situations for Gbp,