GBPUSD :: Alternate Count

The movement this morning could possible a thrust from a triangle. Please refer to the chart for the alternate count.

Note:
Alternate count only carried 35% level of confidence.

apengfx-

GBPUSD :: Possible Bottom is in place

Focusing on the upside potential while possible bottom is in place.
Support @ 2.0180.

apengfx-

GBPUSD :: Searching for evidance for bottom

We are continue to search for evidence that cable has already bottomed.
Alternate count chart will be upload later.

TQ

apengfx-

GBPUSD :: zigzag complete

Zigzag correction pattern tell us that risk is start to shifting to the upside while downside potential limited.

One more leg dip under current low is needed to complete wave c and when that happen, as usual, don't chase for the bottom, instead try to look for evidence that bottom are already in place.

apengfx-

GBPUSD :: zigzag ?

Favor to the downside. Zigzag structure is most likely to happen.

apengfx-

GBPUSD :: Intraday 26 July 2007

finally an impulsive movement to the downside has occur.
one more leg below 2.0485 is needed to complete the 5 wave structure from 2.0653 and will be follow b a corrective movement, this should be an opportunity to sell at high again :)

GBPUSD :: Diagonal Triangle Detected

If this is the case, we will see a clear movement to the downside in couple of hours.

apengfx-

GBPUSD :: Intraday

Waiting for more clear view where is the price heading today.
Update again later. TQ

apengfx-

GBPUSD :: Monthly Analysis

Suggest that atleast a correction pullback will take place for the rise of wave 1. After the correction, cable will gain further in wave 3.

Alternate become preferred count

Last Price: 2.0327
Time Frame : H1
Time: Friday, July , 13, 2007, 11.03pm

Alternate scenario has take over and and a large wave 4 has ended at 2.0261 and cable are now going into corrective phase where a rally will go beneath 2.0250 area or worst.

apengfx-

GBPUSD :: Intraday analysis

Last Price: 2.0290
Time Frame : H1
Time: Friday, July , 13, 2007, 8.10am


The fall from 2.0364 is in three wave structures (possible a correction), but given the larger pattern I'm looking for the decline to extend. the market could dip below 2.0100 for correction the five wave up from 2.0057.

Alternate comment :
With fully respect to a near term bull alternate that needs price to push on up to above 2.0364 towards 2.0417 before it start to decline. All this will happen in 5 wave structure and the support @ 2.0268 remain intact and trading above 2.0364 will bolster this count.

However, both count are heading to the same direction.

Trading idea:
wait and trade at wave c

apengfx-

GBPUSD :: On track

Trading Idea:
Wait for wave c

GBPUSD :: Approaching a top then lower (part 2)

As discuss this morning, its look like alternate count have take place. Still waiting for top to complete before start selling cable.

apengfx-

GBPUSD :: Approaching a top, lower

Last Price: 2.0314
Time Frame : H1
Time: Wednesday, July , 12, 2007, 6.30am

We can count 5 wave structure and looking for a decline to confirm that top is in place.

Alternate comment:
This alternate count will allow another push to the upside before start to decline to the 2.0250 level or worst.

Either way, both count will heading to the same direction. Upside potential now is limited , and risk now are shifting to the downside.

Still wait for more clear view before enter the trade. apengfx-

GBPUSD :: risk are shifting to the down side (part 2)

Price already reach the target area as discuss this morning and we can count five wave structure, this tell us that cable will enter correction phase and go towards the 2.0250 area. apengfx-

Close for trading

" Trading does not have to be difficult, and it can be very rewarding. Learn to depend on your self in trading. You may not know it but you are an expert too. Begin to enjoy being a trader instead of worrying about becoming a trader"
B.William :: Trading Chaos Edition 1



Pips on screen.
Profit : 333pips
Loss: 0pip
Net Profit: 333pips

GBPUSD :: risk are shifting to the down side

Last Price: 2.0267
Time Frame : H1
Time: Wednesday, July , 11, 2007

One more high above 2.0280 to complete the sequence from 2.0057 with support @ 2.0168, price will likely to fall to the 2.0040 - 1.9930 area. apengfx-

Last Price: 2.0150
Time Frame : H1
Time: Tuesday, July , 10, 2007

Focusing on price exceeding 2.0206 to make new top. Afterward, a corrective setback to the 2.0067-2.0035 neighborhood will follow.

alternate comment : a fall below 2.0057

The rise from 2.0057 is ni three wave,the interim support at 2.0097 must remain intact for the bullish outlook to continue. A fall beneath 2.0097 would likely to continue below 2.0058. This alternate is eliminated at above 2.0206 and bolstered at under 2.0097.

Trading Idea:
wait and see

GBPUSD :: Intraday

Last Price: 2.0113
Time Frame : H1
Time: Monday, July , 07, 2007

"The rise from 2.0057 sure look impulsive.
Favor to the upside, price will likely move towards the 2.0224 - 2.0271 area from 2.0057 and the support at 2.0057 remain intact."

Focus on exceeding 2.0141, this movement should bolster the wave 5 view for above 2.0206.

However, there are still reasonable count that drives price below 2.0057 and into the 2.007-1.9930 neighborhood in a corrective three wave fashion down from 2.0206. Trading under 2.0057 will be bolstered this bear view.

Trading idea :
Buy stop @ 2.0142
Sell stop @ 2.0056

GBPUSD :: Wave 5 Scenario

Last Price: 2.0126
Time Frame : H1
Time: Saturday, July , 07, 2007

The rise from 2.0057 sure look impulsive.
Favor to the upside, price will likely move towards the 2.0224 - 2.0271 area from 2.0057 and the support at 2.0057 remain intact. All this should unfold in 5 wave structure.

Trading Idea:
Buy Dip @ 2.0089 - 57 area
SL 2.0056
TP 2.0206

apengfx-

GBPUSD :: wait and see

Time Frame : H1
Last Price: 2.0126
Time: Friday, July , 06, 2007 10.49pm


As previous discussion, there are two possible wave for cable right now. The best way is to wait and see.

Trading Idea:
Wait for wave 5 to complete first. then trade at wave c.

GBPUSD short term prediction b4 NFP (part 2)

the effect of the NFP show that there are still possibility that cable will go up and create new high.

What to do now?
just wait and wait for more clear wave. :)



close trading for today n yesterday. Syukur!!
Profit : 259pips
Loss: 1pip
Net Profit: 258pips

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Attractive issue.

Global Markets
Shifting perceptions drive
euro/dollar action . . . . . . . . . . . . . . . . .8
After nearly setting an all-time high,
which way is the euro/U.S. dollar pair
headed?
By Currency Trader Staff

Trading Strategies
Comparing the majors . . . . . . . . . . .19
Comparing the day-to-day performance
of the major currency pairs provides
perspective on forex price action.
By Currency Trader Staff

Trapping the intraday range . . . . . . .26
Three market principles and a handful of
market statistics lay the groundwork for
a systematic-discretionary intraday currency
trading strategy.
By Igor R. Toshchakov

Advanced Strategies
Currencies and Federal Reserve
trade weights . . . . . . . . . . . . . . . . . . .30
Does a weaker dollar really boost U.S.
exports, as many protectionists argue?
By Howard L. Simons

GBPUSD short term prediction b4 NFP

Last Price : 2.0092
Time: 8.02 pm

Still favor to the down side.

Trading Idea:
None

Just wait n see, i will post the result after the news

GBP/USD update

its hard to say that top is in place but we are able to count five wave up from 1.9621 and its telling us that the risk is now shifting to the downside. Favor to the downside, price will rally to the 2.0007 - 1.9930 area in three wave from 2.0200

Trading Idea:
Still wait for wave c

Tips on trading: How to win at trade

1. Play a perfect waiting game - trader is like sniper, wait and wait and wait for a clear view to the target before fire.

2. There no 100% accuracy in Forex, dont put the apple in one bucket , SO NO big bets Please!!!

3. Cut loss and squeez the winner : winner they hold the profit position as long as they can, but looser hold the loosing position as long as they can and hoping a looser to become a winner.

4. Kill thrills attitude please.

5. Big loses are killer, so check your Risk/Reward ratio. use stops!

6. If u are a wave rider, always enter at your prefer wave.

7. Doa. :)

NFP tonight

With the realease of NFP data tonight, if GU top still not complete by this evening, then i will expect the NFP data will be bad news for dollar and cable will complete the 5th wave and create new top.

If the top is already in place, then i will expect to see price going down to create wava A

Trading Idea:
Straddling The H4 candle. TP 50~70 pips

GBP/USD is topping?

Date/Time : Friday, July 6, 2007 :: 7.34 am
Last Price : 2.0110

There still a possibility that cable will hike for another top to complete 5 wave from 1.9928 and then corrective wave will take place and drag cable deep into 2.000 - 1.9928 area.

Trading Idea:
Wait for wave C