Warning. Possible extended wave 5 (1.3630 is the end) in the making. image image

Coreg's EW+HP+D/W Range

Here was the clue as long as WL had held. image image

Coreg's EW+HP+D/W Range

...and the AB=CD pattern has been reached too.

Coreg's EW+HP+D/W Range

After successfully defending the 1.3500 level, bulls have pushed the price up by 60 pips. Nice.

Coreg's EW+HP+D/W Range

Still the same on the daily TF.

Coreg's EW+HP+D/W Range

Both harmonic patterns mentioned yesterday have been invalidated by recent price action. The weekly low (WL) was too strong to be breached. It's been tough trading over the last day due to GBP/USD movement within a 120-pip range. Bulls now need to ...

Coreg's EW+HP+D/W Range

birdland, we are currently in a state of uncertainty. The bulls need to break above the trendline (TL) and remain above it to have a chance at completing the Gartley pattern. If GBP/USD breaks the magenta TL and today's LOD, then a bearish crab ...

Coreg's EW+HP+D/W Range

Miti, you know well, they will often push the price to the last Fibonacci zone (between 78.6% and 88.6%) before a potential break of structure (BOS) at the swing high/ swing low on the daily chart. I hope you enjoy the ride!

Coreg's EW+HP+D/W Range

If WL @1.3448 breaks, look for AB=CD target from the daily TF @ 1.3424. Nice ride so far. image image

Coreg's EW+HP+D/W Range

... image image

Coreg's EW+HP+D/W Range

GU has hit the potential reversal zone (DRE) for today, but has not yet shown any signs of reversal. There is still one possible swing upward. Keep an eye on the 1.3587-1.3600 zone.

Coreg's EW+HP+D/W Range

Miti, if I had been at my computer during the London open, I would have used the Stop and Reverse (SAR) strategy after the Trend Line Break (TLB). This is my signature play, and I rarely lose money when entering after an ABC pattern. I would have ...

Coreg's EW+HP+D/W Range

Recovery has been completed. YH at 1.3518, after breaking, held well, allowing GU to reach the second target zone for the end of wave 5. Awesome. image

Coreg's EW+HP+D/W Range

2 zones for potential end of wave 5. image

Coreg's EW+HP+D/W Range

... video

Cable Update (GBPUSD)

Miti, it was a good chance with continuation to the downside, b/c on the daily TF, as I said a few days ago, GU is in sideways-to-up mode, and now it will be harder to drop again, but doable as long as at least YH holds. We will see, anything is ...

Coreg's EW+HP+D/W Range

Miti, from the daily TF, 1.3430 wasn't a bad target.

Coreg's EW+HP+D/W Range

Miti, I thought that 1.3479 would hold b/c was tested so many times and the bears lost the battle. I was wrong to think I could make money sleeping. The first resistance zone was busted.

Coreg's EW+HP+D/W Range

Just-Trade, my stop loss is always above/below SH/SL before the entry. In this case, SL hit with -10 pips. I wasn't at the computer, so I didn't average this time.

Coreg's EW+HP+D/W Range

I will settle in the middle...1.3420

Coreg's EW+HP+D/W Range