GBP/USD TICKET 1795186 I made pending order on 30 oct 2009 closed it on the same day but not hit the target but gain 145 pips.
GBP/USD TICKET 18127119 I made pending order on 2 Nov 2009 close it 3 Nov 2009 after hit the target - gain 80pips
GBP/USD rose strongly to as high as 1.6692 last week but reversed ahead of 1.6740 resistance. In any case, a short term top is formed at 1.6692 and initial bias will remain on the downside this week as long as 1.6646 minor resistance holds. Deeper decline should be seen to 61.8% retracement of 1.5706 to 1.6692 at 1.6083 and break there will bring retest of 1.5706 low next. On the upside, however, above 1.6446 will turn intraday bias neutral again and will put focus back to 1.6740 resistance.
In the bigger picture, while the rebound from 1.5706 was strong, it was still limited below 1.6740 resistance and hence, we'd continue to prefer the bearish case. That is, medium term rebound from 1.3503, which is treated as correction in the long term down trend from 2.1161, has completed at 1.7043. Break of 1.5706 will affirm this case and target a retest of 1.3503 low in medium term. However, not that break of 1.6740 resistance will confirm that fall from 1.7043 has completed with three waves down to 1.5706 already. The three wave structure will indicate that it's merely a correction to medium term rebound from 1.3503 only. In other words, another high above 1.7043 should be seen before GBP/USD tops out. MORE
GBP/JPY probably finish climbing to the top (wave 5) after breaking 143.20 resist at 14/10/2009 and its was rally about 2 weeks and achieved at the highest point 153.17. After completed the circle, the trend made correction after its broke at the price 151.17 the channel which the line is parallel from wave 2(141.00) to the wave 5(ii) (147.40). From my opinion this correction seem like (a) correction. For the confirmation of this wave (a correction) will be down until the fibo 38.2 from the point 100(139.67) to the point 0 (153.17).
Others possiblity, the trend will go up to the area 151.17 as R1(resistance 1). The trendline analysis will be used to determine the trend at this coming week. I always use TF15 to determine the micro wave whether the trend continous down or go up to find R1(resistance 1). As usual I will not give any signal or prediction price for the GBP/JPY as we know the pair is very volatile. But it is sweet to make sell if the price break at lowest trendline in TF15 and the target price around 148.15 and stop loss at price 150.90. Hey, bro remember TRADE AT YOUR RISK. I will continously analyze for the pair GBP/USD and EUR/USD and will give you all the prediction of the price! (wink wink) smile.
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