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If the Dow tags 28250 cash or futures today I will short it.
Nothing above US majors but the sky !
Cancel that order.
I will wait until monday and look to short then.
More downside by mid week says the seaweed.
Never give up, never surrender.
Just woke up to see GBPUSD at 1.346. Not what I expected and naturally I’m disappointed to find my short position underwater. Good job it is a small position.
Major resistance is at 1.34 and the Pound must reverse downwards below that number otherwise I’ll have to cut and run.
The exit polls could be wrong.
There are many implications if they are correct.
Worth a punt.
Never give up, never surrender.
DOW: I had/have 27,658 as wave (iv) and 27,689 as wave 4. Very close numbers.
The plunge last week took it too far below those targets. It dropped in a ‘three’ and now appears to be rising in threes.
I have a feeling that the Dow might be forming an expanded flat 4th wave. If so, the current overlapping rise should get to 1.382 of the drop – 28,497 (let’s say 28,500).
Interestingly (and might just be coincidence) if it gets to 28,500 a subsequent drop in ‘c’ equal to wave ‘a’ targets 27,655, almost exactly my original wave (iv) target of 27,658 (just three points out).
So for the moment (and unless something else happens) I’m going to watch for this expanded flat idea.
GBPUSD: closed my short position at a loss. Problem is I don’t have any numbers or targets up here and it doesn’t make sense to maintain a position based on ‘hope’ rather than logic.
A modest but unwelcome loss. There will be other opportunities.
Yes, that Dow 28500 looks tempting for a short (if we get there)
into another sharp drop next week.Never give up, never surrender.
GBPUSD: crunching some numbers gives logical targets in the 1.372/1.378 area.
The only other possibility I can see is 1.3502 which I believe it has already exceeded.
Unless something else happens I’ll sit back and watch for that 1.372/1.378 area.
For the Dow this latest rise appears to be in ‘threes’. It might develop into a rising wedge. If it’s the middle part of an expanded flat (target 28,500) then a rising triangle B wave would make sense. It’s early days and needs more development.
GBPUSD chart with targets. I have two calculations that point to 1.365, and two for the 1.372/8 area.
There is a lower target at 1.3502 (which it has already hit) but I haven’t shown this on the chart because the ‘pattern’ doesn’t make much sense to me.
I plan to go short at 1.365 if it gets there and I can decipher the pattern.
Cheers hatman
I will hold my gbp:usd shorts and see what happens today.
It’s not my market and I hold no affinity with it but
let’s see what the traders do with it.I am also ready to short Dow at 28500
Never give up, never surrender.
The people have decided and the Tories can sign off
on the Brexit bill and we leave no later than 31st
of January 2020. Then start trade talks !!!!Lab Snp Ld Dup can go sit in a corner and moan.
I voted Green on the basis that without the planet
the rest does not matter.Never give up, never surrender.
Small short gbp:usd at 1.35 … stop tba … limit tba ( x 2 )
Closed both at 1.34570
It’s been a week of small profits but they all add up.
I most be coming a happy nibbler !
Never give up, never surrender.
There is an alternative pattern in GBPUSD where instead of being a ‘five up’ one can interpret the triangle as a B wave. If so, then C=A at 1.388. It’s yet another number in the 1.37/8 area.
I don’t particularly like this ‘three up idea’ but it can be valid if it wants, and of course it’s always important to look at the alternatives.
My preferred count is a ‘five up’ after the triangle, now forging higher in wave 3 with 1.365 as a potential target, then 1.372.
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