Great British Pound – the BUY case

September 4, 2016

the Pound held the .786 and has rallied around 700-800 pips.  Now, we find ourselves rolling up into the former 2009 support zone w/ a bunch of patterns coming into play. this should act as major resistance and the start of another leg down in the Pound vs USD.

just a pattern …

Page_16-09-03_11-24-48 Page_16-09-04_10-10-00

 



August 6, 2016

since the HUGE MONTHLY 31 year .78 node the pound move roughly 700 pips (note in 5 waves) and has been consolidating for a month.

take a look at the BUY PATTERN present in the GBP a little lower … they don’t get better than this.  What does that mean?

well after a 31 year .786 node of support we have a Gartley BUY occurring.  all it means is it MIGHT work and it MIGHT not ..

I like the fact that it’s been working/consolidating for a bout a month .. that means the moon is at play!  🙂

Page_16-08-06_10-00-44 Page_16-08-06_10-05-50



wow .. what an amazing vacation in the Outer Banks this past week. W/ a clear head, I open my charts this AM ..

so, the Pound found support on a 31 year .786 retracement…it “should”. But, as we know, it doesn’t have to hold – at all.  But so far it has …

now, if you’ve been following my blog you’ll find that this 30 year support in the 1.35-1.38 zone should not become resistance – polarity principle.

as for me, I’m going to look for a buy pattern (nibble) – folks – this is roughly 1000 pips away so, while it doesn’t look like much on the Monthly chart – it certainly could be a sizable rally right into the “wall of china” polarity principle.

hope you had a great week ….get some.

B

Page_16-07-10_10-21-48

Author: BART

BART is a CMT and an expert a "advanced" pattern recognition used w/in the intermarket analysis discipline. He's also an accomplished Business Development Executive providing solutions to a myriad of business markets.

Leave a Reply

%d bloggers like this: