My attempt to label GBPUSD under the NEWR

[forexspeculator84]

Hi wavers,
This is just my very first attempt to label GBPUSD price action on monthly and weekly chart while I was reviewing the NEWR. To be honest, I haven't got used to and felt confident following NEWR. Everytime I try to dig further into the subwaves, I've got a lot of questions and doubts in my mind. Nevertheless, I finally came up with the count for GBPUSD using the NEWR. Looking forward to comments from Tom and you guys.
A note here: I didn't use the degree labels provided by Tom in the ebook coz I was lazy memorizing the labels but I tried to differentiate them using different colors and sizes. Hope it looks okay, guys. Cheers

   

   

[TS Hennessy]

I see where you are coming from but I think the starting point may not
have been right for at least the labels - I think your overall direction
is right.

I have put up a chart on Cable here:

http://newelliottwaverule.org/forums/thread-33.html

See what you think.

[budakfx]

hi bro TS hennessy




plz comment my count on gu daily ...
iam using diff colors for labelling..
gu break ress 5520..w'll c 7xxx



4H chart

fail to break ress 55xx
w'll c gu make a new low..

ntah ye ntah idak

[TS Hennessy]

Good work.

I am short from 1.5179 from last evening so I guess I agree with your down scenario.

[Steely Dan]

Tom. I've been struggling to get my head round cable. It looks like a cup and handle formation as an aside, but I'm finding it tricky to get a long term fix. My intuition is that cable needs to better 1.60 to complete an RTB-b wave and will then drop in C4 en-route to a final C4 (Your purple label) above 1.70 before falling to new lows. Do you have an updated chart or could you say if I'm on the right track?

Thanks
Dan

[Steely Dan]

Ok, Well something went wrong with the sat-nav so here is my stab at getting back on track. I have some more detailed counts, but first here is the bigger picture. And then a closer look. The rounded nature of the chart implies we can't have any sizeable pullbacks or the count is wrong - Is this a vote for a race to the summit when the fiat money system will finally unravel?

[Steely Dan]

Ever onwards and upwards but I get the feeling the rollercoaster is reaching a top...

[Steely Dan]

Much happier short term than long term on this. Nailed the top near enough over 1.6000. Now the turn proximate to a previous high months back make me wonder if this was an rtb b wave and we are now falling in 4c which must stop before 1.4240 before heading up to above 1.7000 in 5.