Quote:
Originally Posted by mrv
After reading Hurst's book and studying charts decided to share some of my thoughts, hope others (especially Simba) will find them good.
From my point of view now all short and medium term cycles are dominated by longer ones (see chart - red (35), green (49) and blue (75) MAs are crossing each other while going up). Aqua (105) MA just bottomed out and started to go up for about 2 days now, probably causing all this price climbing. I estimate its cross with magenta (205) MA somewhere around 2.0120 and within next 6 - 8 trading days. So this means we should see gbpusd in 2.0424 - 2.0576 area in 6 - 8 trading days time.
Also, as we see from daily chart, SATL turned blue supporting this prediction.
Any comments?
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Excellent analysis,I would only change this sentence "So this means we should see gbpusd in 2.0424 - 2.0576 area in 6 - 8 trading days time." for "we will probably see GBPUSD above 2.0424 in max 8 trading days"..then,each new trading day I would update the analysis to finetune it with the new info....Basically,looks like GBPUSD is poised to go up,very soon..
The fundamentals seem to help too,what do you think the Fed will do on the 18 of September?We don`t know,but major players HAVE TO incorporate into their strategies the high probability of a rate cut..and,if this happens,USD inmediate trend,against the Majors,will probably(
) be down..
Try to do this Hurst analysis on EURUSD,USDJPY,USDCHF too and see if all charts are explaining a similar story...