Forex is predictable.

[spellcraft]

I consider that the pound has a way up to go till the end of wave (iii) of 5. Long positions are a little bit too risky.

 

[pulsescan]

Quote from spellcraft:

I consider that the pound has a way up to go till the end of wave (iii) of 5. Long positions are a little bit too risky.

GBP/USD resistance at 1.7040
Mkt is still technically bullish within a longterm consolidated pattern. Need to close above 1.7040 to establish the bullish trend with a march upwards toward 2.0000

We shall see.

 

[spellcraft]

Totally agreed about the resistance at 1.7040. For my wave count breaking of these levels will confirm that wave 5 is in action.

 

[spellcraft]

...and the second chart...with the reached target

 

[spellcraft]

I think we're gonna see here some corrective downturn.The first targets that I would point are at 0.71800 and 0.71300. Important support line is the channel's lower shoulder.

 

[spellcraft]

An example how to manage your trades using Elliott wave Principle.
Part one - analysis and forecast.

 

[spellcraft]

An example how to manage your trades using Elliott wave Principle.
Part two - what actually happened.

 

[earnestiny]

I can’t believe that is even a title!!!
Forex predictable?? That would mean economy is predictable, and that the markets are predictable and of course they aren’t!!!

 

[spellcraft]

After the market made another two more thin highs, it reversed and went straight to the target we've set. I hope you've taken this profits. Good luck.

 

[cstfx]

That dollar move against all the majors WAS NOT predictable.

F'n Obama!