4 hour Anchor

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kasim ijelu

Private, 1st Class
Slightly Bullish but Overall Bearish British Pound

I Like to use fundermentals to complement/comfirm my Technicals.

STERLING BROADENS WEAKNESS on fresh data disappointment, this time from the slowest monthly rise in Nationwide house price index since Nov 2009 and slower than expected Aug construction PMI (6-month low). GBPUSD drifts around its 200-day MA $1.5427, while attempting to hold above the $1.5390s38% retracement of the rally from the May lows to the Aug highs. By AshrafLaisi.com

I believe GBP/USD
is in a Elliott Wave CORRECTIVE ZIGzag WXY down
Pls read and comment on my Action plan to sell british pound after the inital Rally on either
6th or the 7th /09/ 2010 @ 1200 till 2.00pm GMT during the american session.



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overall bearish Pound

It seem our Pound reach our target entry 1.54...1.55 area on the 8/09/10 and not the 9th as predicted at 4 o,clock However, if you were monitoring the daily picvot high you may have be lucky to catch the drop
which retreated from there and is presently @ 1.54050 under the 90 simple moving average on the hourly time frame.
Thank you:)
I Like to use fundermentals to complement/comfirm my Technicals.

while Wednesdays BoC decision is expected to produce a 25-bp rate hike to 1.00%. the RBA could well issue a cautiously positive assessment, that may give reason to anticipate 25-50-bps in tightening later this year. the news from the Cad sent the Audcad crashing on strong Cad news yesterday from 0.9605 to its weekly pivot support @ 0.9513...

Economists surveyed by Dow Jones Newswires forecast Australia to have added 25,000 jobs in August.
presently:Aussie has posted ok jobs data 09/09/10

GMT Ccy Events Actual Consensus Previous Revised

1:30 AUD Employment Change Aug 30.9K 25.0K 23.5K 25.0K
1:30 AUD Unemployment Rate Aug 5.10% 5.20% 5.30%

The news above sent the aud cad back up again capped at 0.9588

ok now were up to date what can happen now???? heres my plan
Bullish Aud/CAD

Finished my Daily PLan for the AudCAD
hit me back tell me what you think?
p.s Eur and oil ready for a down trend coming up soon


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Bullish audcad

2nd entry daily pivot 0.9445@ Hrly middle Bollinger bands low stochastics
Hello And Good Morning

I like to use fundermentals to confirm my technicals
Price on the Audcad have fallen as predicated to the weekly pviot supoport from 0.95885 yesterdays highs to the weekly pviot suuport @ 0.9513
orginally i beliveed we were in a ellilot minor wave 2 up which is still vaild however, the present consolidation of prices between the weekly pviot support @ 0.95137 and the daily Pivot resistance @ 0.9546 has not fully developed therefore i am un sure of what pattern might emerge
i orginally thought it was an elliott complex wxy but y has not extended pass w.
7:00am CA Employment Change 30.0K(E) -9.3K(P) 25K(S) 50M by henery Liu has been posted so stay tuned to his analysis this should set the tone for the direction of the trend development.
Still bearish as long as we under 1.30 RR 1.28895 200day 4hr SMA

At the present time we are in a corrective Wave pattern. For all these reason it can be difficult at times to fit corrective waves into recognizable patterns.
Eur/usd was supposed to break 1.260

but as Master Trader Sive said it market should take out the lows as he very well predicated. (Brilliant Guy)

Now prices have risen with bullish a Engulfing bar bullish stochastic and possible bullish MAC/D on the 4hr time frame
This is good as the mouse (prices ) play into our very carefully planned out trade.

Therefore, we must exercise more Patience and be flexible in our analysis
The elwave Principle knowledge: The most important rule that can be gleaned from this study of various corrective patterns is that corrective waves are never fives. Only Motive waves are five.

:nerd:So our present view of the Euro is 3 wave buy up or a A-B-C up To go short.

Zigzag correction: Ref page 42 Elwave princple

Prices on this rallies could reach a number of corrective prices i.e 1.2775 minor RR,1.2805= weekly RR,1.2854= daily RR and 1.28894 =200 day SMA

This is the most difficult Part of trading our Motto is
Practice , Pure , Patience, Produces, Pure , Profit
(The Plan which i will post fully in a moment all you need is Word to Open)
but for now
We will attempt a short @ 1.28894 or 1.30 on the condition that the 4 hourly stochastic is turning bearish followed by an hourly sell signal.
When the 8day SMA cross the Middle Bollinger bands and holds on the hrly. only then we will attempt a short.
Sentiment at the time should be extremely bullish on the euro bond buying and presently Greece job rate 11.6% vs 12% in May.
Continuous good news should Push Euro to our target prices hear we will attempt to fade the news.

Stay tuned as the world of Money Making unfolds.

K&S Analysis

Thank you :)


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