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el grande Sep 6, 2007 12:18am | Post# 541

Another Short Trade @ 233.15 for GBPJPY

EG

el grande Sep 6, 2007 4:02am | Post# 542

GBPJPY

Ok I missed to take profit on that 2nd Short Trade I made could have been a 35-40 pip gain. (coz I fell asleep after a hearty lunch with a friend).

Anyway, It seems that the BUlls are still in control. I am looking for another entry level for my last Short trade to put in....

I am eyeing 234.82 ambitiously . But I could settle for somethng a little lower than that.

..... it all depends on what I see and what my gut feel tells me.

... of course I am still using EW Counts

EG

africanpip Sep 6, 2007 4:17am | Post# 543

don't look back
 
1 Attachment(s)
GBPJPY

Ok I missed to take profit on that 2nd Short Trade I made could have been a 35-40 pip gain. (coz I fell asleep after a hearty lunch with a friend).

Anyway, It seems that the BUlls are still in control. I am looking for another entry level for my last Short trade to put in....

I am eyeing 234.82 ambitiously . But I could settle for somethng a little lower than that.

..... it all depends on what I see and what my gut feel tells me.

... of course I am still using EW Counts

EG

Hey EG,

What ever you don't look back! FX lessons everywhere!!....
alls well.pdf

el grande Sep 6, 2007 5:39am | Post# 544

Thank you AP.

GBPJPY

Looks like this baby is working out like I thought it would .

BUt I have no more Long Trades. Instead I have been nrsing 3 Short trades.

233.94 high was not high enough to convince me that it was the peak.

So I expect it to go up some more. I will not be putting in any long trades as I want to prepare for the Ultimate Short rade of the Week.

EG

el grande Sep 6, 2007 5:45am | Post# 545

Hey EG,

What ever you don't look back! FX lessons everywhere!!....
Hi.

I just got the chance to open that pdf you sent after I removed some windows on my screen. pdf wont open probably due to lack of memory...


my my my...... that looks scary . That makes me have second thoughts diving in open water again where sharks may be found.

that monster could suck in those 2 when it opens its mouth.

.... just curious.... is it possible that that shark is actuallly a baby that just wants to be part of a group picture???

EG

el grande Sep 6, 2007 5:56am | Post# 546

GBPJPY

watching my charts again, I think I just might enter some long trades for this pair.

we could be in a retrace now and will soon be back on the Bull ride towards 234.82

EG

el grande Sep 6, 2007 7:45am | Post# 547

GBPJPY

I did enter my long trades

233.00

232.19

But I also exited my short trades as price went down.

I know that I mentioned earlier that I was nnot convinced that the 233.85 was not the final peak of this wave.

I got out the last Short I placed with just 10 pips profit while the other I allowed to run as it was still on thenegative. exited it quite early though at 23 pips profit.

Now is time for me to nurse my Long trades.

If we go lower than 231.88 then most likely I will have to close my Long trades for a loss. Other wise it will be a surge by the Bulls once again.

EG

el grande Sep 6, 2007 10:49am | Post# 548

well......

now we know or are we just lucky?? we had an idea that price was gonna go up even before we got the news......

still optimistic on a profitable Bull run for the next few hours.

If we get to 234 or 234.82...... well that would be a nice gift.

from above, we can enter short trades again and see the bears try and attack 231.88 again..... this time to break that level.

current low reached 231.96 only and that was 15 minutes before I went out to have pizza and shop with my friends.

I left with my 2 trades still on the red. I come back and LO.... one was sitting comfortably with +PIPS and the other was slightly negative. Over all ..... is ok.

Keep getting Optimistic. I may exit anytime now any or all the trades when they are in both in Positive position. Then wait for a nice entry for my Next short trades.

Willprobably have a ladder entry again.

Happy Harvest Everyone.

Learn the EW Theory

EG

marketwavez Sep 6, 2007 1:14pm | Post# 549

1 Attachment(s)
Here's a look at the Gbp/Usd

---------------------------------
(Price Action )....... Chart





- Double click on chart to enlarge.
Click to Enlarge

Name: GBP-09-07-2007-#2.gif
Size: 22 KB

el grande Sep 6, 2007 1:41pm | Post# 550

Marketwavez,

Thank you for posting your Cable Charts here.

I was just wondering on your 1h and 4H charts, why is it that there are 12345 labels for the Wave B?

Or is that just the Leg A inside the Big B Wave?

EG

el grande Sep 6, 2007 1:46pm | Post# 551

GBPJPY

I have exited 2 long trades for a total nice profit and have also exited 2 short trades on an average profit.

Currently holding 2 Long trades from

233.10
233.45

both negative currently, but optimistic we will visit above 234.00

Well..... it has been a nice run with the Bulls and Bears today. Enjoying the view and the rides on these waves..

16% inc for the day is not that bad.

EG

el grande Sep 6, 2007 1:48pm | Post# 552

multiplatnum...

marketwavez has one of the best EW Counts on Cable too.

EG

el grande Sep 6, 2007 2:02pm | Post# 553

Thank you marketwavez.

I got that now. 5 wave impulse on B is just the A leg of a three wave B.

EG

el grande Sep 6, 2007 6:23pm | Post# 554

GBPJPY

Closed 1 of my longsfor a small profit. Good enough while I was sleeping. around 15pips.

Remaining 1 long I am waiting for a breakeven or at worse minimal loss wchich is less than the 20pip spread.

Anyway, have loaded some short trades at:

233.25
233.37
233.32

Waiting for new Entry "really nice" entry level for a final Short.

Ok Bears..... let's get ready.

233.60 highest on my chart. Channel could be top ay 233.72

EG

PS...

to be traded in DEMO only

el grande Sep 6, 2007 7:36pm | Post# 555

well......

now we know or are we just lucky?? we had an idea that price was gonna go up even before we got the news......

still optimistic on a profitable Bull run for the next few hours.

If we get to 234 or 234.82...... well that would be a nice gift.

from above, we can enter short trades again and see the bears try and attack 231.88 again..... this time to break that level.

current low reached 231.96 only and that was 15 minutes before I went out to have pizza and shop with my friends.

I left with my 2 trades still on the red. I come back and LO.... one was sitting comfortably with +PIPS and the other was slightly negative. Over all ..... is ok.

Keep getting Optimistic. I may exit anytime now any or all the trades when they are in both in Positive position. Then wait for a nice entry for my Next short trades.

Willprobably have a ladder entry again.

Happy Harvest Everyone.

Learn the EW Theory

EG
We did get to 234.12 high.

Unfortunately for me, My IE froze and needed to restart before I could enter a new SHORT Trade. S_ _ _ happens..

When I got it up again... was abale to enter at 232.61. and Life goes on.....

More trades to come for us. 1st target wish was attained at 234 level. was even higher at 234.12 on my chart. But my IE failed me....

So holding all Short trades now:

233.25
233.37
233.32
233.61

Ok Bears..... fasten your seatbelts. Ride could still be bumpy as we may encounter some airpockets.

Although, a trendline was broken or poked so deep.... a pinbar could be seen formed and forming from 1m to 4hour charts.

so this could be a nice ride south.

i hope your demo accounts are clicking happily with those pips

I guess the more people hate EW counts in this thread, the more pips we get .

Our gain anyway.....

EG

PS.....
And we did not even have to know what the feds or the news would do.
Thanks marketwavez for driving that point deep into a home run.

mrloba Sep 6, 2007 7:37pm | Post# 556

Marketwavez,

Thank you for posting your Cable Charts here.

I was just wondering on your 1h and 4H charts, why is it that there are 12345 labels for the Wave B?

Or is that just the Leg A inside the Big B Wave?

EG
Instead of labelling 12345 why not just label as abcde. I think its more proper way. Only diagonal triangle in wave 5 and C should be label 12345.

el grande Sep 6, 2007 7:45pm | Post# 557

GBPJPY

ok. next stop is 232.10 again.

this will be the 24th time that price will try to pass thru the 232.10 level on the 15min chart.

what do you think? will that level just gape open this time and swallow the Bears?

There were approximately 5 significant lows on my 15 min chart that showed this attacks, so cold a 6th be successfull.

let our EW counts show us what this baby might do.

EG

el grande Sep 6, 2007 7:49pm | Post# 558

Instead of labelling 12345 why not just label as abcde. I think its more proper way. Only diagonal triangle in wave 5 and C should be label 12345.

Dear mrloba,

I think in the subsecquent chart that marketwavez posted, it showed that the Wave B I was wondering about which had a 12345 label showed that that was just the Leg A or sub wave a inside that Big B wave.

so it was correct to label it as 12345 as the 5 wave structure of a wave a.

Pls. correct me marketwavez if I am wrong in interpreting that.


EG

el grande Sep 6, 2007 8:05pm | Post# 559

GBPJPY

Probable targets

229.34 Early TP
228.19 Midway
226.39 Max Potential
225.24 Very ambitious


ONLY FOR DEMO Purposes. Under Experiment/Testing

EG

el grande Sep 6, 2007 8:06pm | Post# 560

1 Attachment(s)
GBPJPY

EW Chart Update

PS.

Sorry... I missed to attach the chart the first time.

Ok. might take out one short trade to lock in some profit.

just maybe.

EG
Click to Enlarge

Name: 090707_001_001.gif
Size: 28 KB


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