by Ramki | Apr 15, 2010 | GBP
After the Pound broke past the resistance at 1.5157, there was little to hold it back. The target appeared to be 1.5615/20 levels, and the attached two charts will testify why I felt like that. In fact, I had even emailed some of the old faithfuls this morning that...
by Ramki | Mar 30, 2010 | GBP
Now that the Sterling Pound has almost reached its short term objective above 1.5100, it is natural to wonder what next? If we break above 1.5110, then there is a chance to take a look at 1.5157, which marks a 61.8% retracement level of the prior drop. Selling near...
by Ramki | Mar 24, 2010 | GBP
After rallying back sharply to 1.5380, the Pound has come off in what looks like a five-wave pattern. The final leg of these five waves is likley to be completed soon, and so we should get ready for a recovery back towards the previous fourth wave around 1.5110. So...
by Ramki | Mar 14, 2010 | GBP
Every now and then, the market will enter into a complex corrective phase. It is quite hard to forecast the degree of the complexity, and where the correction will end. All one can do is to take his/her chances at key levels. Right now I see some resistance between...
by Ramki | Mar 11, 2010 | GBP
It all seems so simple after the move! But fortune does favor the brave. Go back to the last two days’ updates and see how you could use Elliott Wave analysis to trade effectively. Ramki
by Ramki | Mar 10, 2010 | GBP
As discussed earlier, we will never know in advance when and where an extension will finish. We can only guess! Yesterday we got the first recovery to 1.5015 area without a problem (that was shown as point “A” in the chart of yesterday). However, the picture changed...
