Next new low on GBP/USD should start its rally

Im not putting too much on this trade but one I definitely intend to take. Waiting for a new low on the British Pound somewhere near 1.6430 to take a long position..

 

 

follow up on last few calls...and looking ahead

In the last few calls, we had short Aussie at 1.079, short Gbp/Usd at 1.5910, and long gold at 1721..

Just updating the charts quickly, with comments to follow..

I am anticipating a final run higher on all risk assets till the beginning of March, before we see a prolonged correction lower. Incredible opportunities ahead.. 

Reversal Thursday!!

Timing markets is impossible. The Gold plunge ive been talking about first at 1739, then at 1749, did not materialize, even though we did get 20-25$ corrections after hitting both levels. This is my third and final attempt to pinpoint the turning point for gold, and im not talking about a correction, but a trend change and major move lower....... I think the Euro has already topped near 1.3232, so i wont post a chart, but here are another two great plays im anticipating, the GBP, and the Aussie....Some trades you 'feel' more than others.. These im pretty sure about...Still, stops will be placed 30 pips above each level as always.

Swing Play- with confidence this time

in my last 2 posts, i was looking to short Euro and Gold, but both rallied higher than my target and my stops were hit. When i started this blog, i wanted to show that markets were not random.. I still think that way. When i see losses or when my stops are hit, the reason is simply that my analysis was not correct. Its ok to make mistakes, but important to realize you're wrong early and Exit with minimal damage.  Thats the main element of succeeding. Cutting losses short.  This morning we're being presented with a very good shorting opportunity on the Euro, gold, Gbp and the Aussie... I'll post as few charts, and this time im more confident of the wave count, nevertheless, stops are a must.  Euro:

GBP:

------------------------------------Updating this post quickly.,,,raising my target for the Euro by 10 pips... pretty sure about this.....

GBP - short play

GBP update

Last week, i had a post on GBP/USD, stating it should get to 1.5260,,,we got to 1.5268, and reversed strongly...I dont think however this bounce will last very long....as the main trend is still down...I think we should get to just below 1.48, before a decent move to the upside begins..

Here;s the link to that post..

I think tommorow, we should see a rejection at the 0.382 level, and possibly the resumption of the downtrend..

Gbp update

Quick chart on the GBP/USD...will see what happens at the specified level...

---------------------Updating this play on the British Pound.. Never got to my 1.5260 level exactly, but very close...I think the trend on risk assets (including the GBP) is firmly down in the medium term ( few coming months). The play is to short rallies.  I think around 1.59 - 1.60, it would be a good idea to start building a short position.  Ultimate target is around 1.4580 in my opinion, sometime in the next 2-4 months..