Join The Community

Search

Thursday, 28 November 2013

GBP/USD Weekly, Daily, H4 and H1

General Overview for 28/11/2013:
The last labeling with an immediate downside impulsive wave development on H1 chart has been invalidated and price has made new high. This made me to re-visit the charts to find another, better labeling.
The Cable is still in Triangle formation and according to my labeling it is in final stages of lalst wave C  of ABC progression in wave E of a Triangle, SO - a trend reversal is expected very soon.
The targets are on Daily Chart and they make 55pips confluence level:
- One - to - One equal length wave 1 projection ends @ 1.6470.
- 38%Fibo Ext @ 1.6415
From H4 fibo projections I got two zones:
- Zone #1  - 1.6363 - 1.6386
- Zone #2 - 1.6417 - 1.6425

A possible reversal is expected for one of this zones:

Support/Resistance:
1.6369 - WR2
1.6324 - WR1
1.6257 - Intraday Support
1.6239 - Technical Support
1.6190 - Weekly Pivot

Trading Recommendations:
Prepare to enter SHORT SWING positions from zones indicated on charts.

As You might have noticed I'm taking a part in "Analyst of the year" contest organised by InstaForex  broker MT5.com portal.
AND
If You like my analysis or You trade it, or You have learnt something new this is my plea to ALL OF YOU: Please vote for me EVERYDAY!

It is free, simple and easy to vote for me EVERYDAY!

This is what You have to do in four easy steps:
1. Register on MT5.COM forum here:http://www.mt5.com/Register/
2. Wait for confirmation email and activation link
3.Click on the link:http://www.mt5.com/forex_analysis_award/profile/index/elliottfxtrader
4. Click on RAISE UP

THATS IT!

BIG THANK YOU!!!







0 comments:

Post a Comment

Note: only a member of this blog may post a comment.

 
Don't Forget To Join US Our Community
×
Widget