Fantastic Analysis as usual Commander in pips,
Pls Commander kindly comment on GBP/USD on weekly chart there is consecutive bullish stop grabber with target @ 1.5929, Potential big & Small AB-CD forming. On daily there is butterfly sell with target @1.6290 this occur in one of the weekly AB-CD region. And I tried to redraw the wedge you talked about in the past GBP analysis since I thought it worthy of monitoring and is still acceptable as wedge. Please Commander what is your view.
Thanks as usual for your prompt response.
Sive, back on August 12 you said that all the commodity currencies (CAD, AUD, NZ) were preparing to retrace upward on the high time frame charts and that retracement could last for weeks. You mentioned that major support for Aussie is at 7182 (approx 7200 area). Today Aussie went as low as 7033, then closed at 7150. Do you feel it is now at that major support level where one could go long? Loonie is also getting close to its major support.
Sive, DXY (USD price index) looks to be headed for a confirmed DRPO Sell on the monthly target. See image attached. 3x3 MA is in red.
Hi Mau,Hej sive. What's your view on eurusd after the big move to 1.3500 ? Do you think we will get and up move to 1.5 before fall again to 1.28 ? Kind regards Mau
I been so enjoying your updates commander, more power to you.
This looks like 222 sell on GBPUSD daily, correct?
Sive, there might be a problem with the DXY DRPO chart I posted a few days ago. I have just looked at the DXY chart with a different broker and it does not show a close above the 3x3 after the first close below it. (see both charts attached with the red line being the 3x3 MA). It could still be set up for a DRPO but we would need close above with a new high and then another close below. It is the same issue you have brought up many times, that there is no central location o source for charts and price movements. Brokers use different times, and it can skew the patterns we might think we see. I suppose a chart from the futures market might solve this dilemma, but I do not have one - do you?