GBPNZD Down but not yet?

GBPNZD Possible short. From my view it seems like we are due a 40W peak soon.If it hasnt already occured. When I view the 20D FLD and VTL they point to a move lower around Oct 15th/16th. NZDUSD looks a buy but Cable could be an A move at the moment. If anyone has any clarity that would be appreciated. Cheers

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I see a new F cat there. at the least sideways to down. Thank you for posting this

Thanks for commenting Derek. Intersting u say category F as we are a fair way away from the VTL…and it wouldnt surprise if we moved hiher after this F move…Thanks again…

Its an F in the context of the 80 day trading cycle, H in the context of the 20 week trading cycle. According to this phasing. Personally I would be inclined to test whether the 20 week low occured early October by pinning the low and looking at the intersctions with various FLDs.

Dave

Cheers David, lets get my pinning skills in order and give it a go…appreciate the suggestion…Trevor

So I’ve reanalyzed and repinned the 80day cycle. I moved it to October and then back as it just didnt fit right in October. This is a 40 day FLD shown and it could be that we are category F (as you guys suggested) now with G and H to come. I have attached EW as well and that suggests we are in wave 4 at the moment. EW rules state that W4 cannot go into W1 so we shouldnt go lower than 1.9617 or deepest 1.9515 (if EW analysis is correct). The next 40d low is due Oct 24 and 80d a little way away at Nov 25…Any thoughts on the trough pinning please?

Having a look at this one I would be inclined to get down to the 80 day level here as the phasing is a little fuzzy above. Likely a low of at least 20 day magnitude here with the 40 day FLD as support. Work from there. Great short at the early Oct peak and another one coming up subsequent to the 20 day peak in a week or so.

Cheers David- I can see the FLD support and low coming in as well as an 80 day trough mid November…the next short will be when prices crosses down and through the 40 FLD ? Also is it worth adding a short term VTL to use as an entry? Amazed at how well it worked for the recent sell…

Probably a 5 or 10 day VTL or FLD. Or use an FLD (10 day?) as resistance and short there, thats what I would do. Keep an open mind

Hmmm- nice idea…Lets see :slight_smile: