We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bullish
USD/JPY
Bearish
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • EUR/GBP: Eyes on Breakout Levels – Euro vs British Pound Price Forecast More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/eur-gbp/2020/01/27/EURGBP-Eyes-on-Breakout-Levels-Euro-vs-British-Pound-Price-Forecast-MK.html?CHID=9&QPID=917714 https://t.co/edpRaQdr0o
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Gold: 0.63% Silver: 0.50% Oil - US Crude: -1.99% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/VzWHFbYinm
  • The $NDX suffered its largest gap lower since May 13 this morning https://t.co/mks3yIKrnU
  • The $EURUSD sell-off from the start of the year continues with the pair hitting 1.1027.Get your EUR/USD technical analysis from @nickcawley1 here: https://t.co/9B2m0kmd4d https://t.co/QLYqZZBRn1
  • 🇺🇸 USD New Home Sales (MoM) (DEC), Actual: -0.4% Expected: 1.5% Previous: -1.1% https://www.dailyfx.com/economic-calendar#2020-01-27
  • Oil Slammed, S&P Futures Fall; Risk Aversion Runs on Coronavirus Fear https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/01/27/wti-crude-oil-slammed-spx-500-futures-fall-risk-aversion-runs-on-coronavirus-fears-js.html https://t.co/DJuYpAi4dv
  • 🇺🇸 USD New Home Sales (MoM) (DEC), Actual: -0.4% Expected: 1.60% Previous: 1.3% https://www.dailyfx.com/economic-calendar#2020-01-27
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.56%, while traders in US 500 are at opposite extremes with 70.60%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/R64Ez2q41K
  • Oil production is down over 75% https://t.co/D8McjvUMYv
  • Libya's NOC says oil production is at 262kbpd, adds that production could fall to 72kbpd #OOTT
Guest Commentary: - MarketVisionTV - GBPUSD: Looking to Reverse Long when the Market is Wrong

Guest Commentary: - MarketVisionTV - GBPUSD: Looking to Reverse Long when the Market is Wrong

2012-03-27 15:00:00
Ed Matts MarketVisionTV.com,
Share:

*Sterling remains in an Aggressive Blow out...

*It is repeating price action from April 21st 2011

*We are staying long and raising stops until...

*The Market gets convinced its an uptrend.. then we will Sell!

Guest_Commentary_MarketVisionTV_GBPUSD_Looking_to_Reverse_Long_when_the_Market_is_Wrong_body_gbp2703.png, Guest Commentary: - MarketVisionTV - GBPUSD: Looking to Reverse Long when the Market is Wrong

Cable remains within what we have called the Nasty trade.. a dramatic blowout to an expanding triangular repeating the price action of last April.

It probably doesn't really matter how the correction to 1.5765 or fractal is labelled. For the simple reason that the 1.5920 previous secondary high should now hold for a break of the 1.5995 high and provide the C=A objective of 1.6090 in recently quick order. This should provide a retracement at least to the 1.5995 break point before attempting expand the blowout further to 1.6165 and even the 1.618 multiple target at 1.6285.

We are staying long then with our higher 1.5880 stop looking to reduce when Cable hits the targets and looking to sell for a reversal to 1.56 when we are more certain of two things..

- Firstly how the repeating fractal will play out..once it reverses the more recent smallest fractal it will possibly reverse the lot.

- Secondly for an indication that the market is convinced its a major bull market.. in other words long and wrong. and why its called the Nasty Trade.

Further videos and commentaries are available from ww.marketvisiontv.com and @EdMatts on Twitter.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.