GBP/USD short term targets met

One Response to GBP/USD short term targets met

1. mika says:

   March 13, 2010 at 4:32 am

   Agree.

   Easy to see if afterwards.

   British crosses make series of ABC movements up in fact for several days where possilble “B” wave broke all the time for contracting triangles, which where also shorted down after each movement fully 3 up movements and not with so small pips. For example after thursday US stockmarket closing after “third” run it came down allmost 100 pips (Gbp-Jpy), but all these bigger degrees were pinpointing higher.

   It seems it is expensive to undervalue daily chart retracement level of 61.8 which most often do actually end significant waves, while in shorter timeframes they are taken out all the time but with daily chart not so easily anymore. That is how eurodollar turned also originally, with 0 pip error.

   Old golden mean is still there

   Good charts btw. in your page, in fact very good by EW point of view.

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