DislikedDaily RSI has only started crossing the 5o line..still lots of room to go down..Ignored
- #9,424
- Jul 24, 2007 9:08pm Jul 24, 2007 9:08pm
- Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts
- #9,426
- Jul 24, 2007 9:12pm Jul 24, 2007 9:12pm
Could this Daily trendline pose problems to gbp/jpy going down to the 245 level? Anybody?
The daily chart's MACD has not changed direction. its momentum indicator is still down, price trend main and mini both down.
On the weekly chart, the momentum indicator points south, main price trend down while min trend is up.
Monthly chart, momentum is down..
I take a stab at it ok: very likely that it goes to 245...
but if not I'm happy with 247, 246..We should know soon if it goes to 245?How about other experts? How about Bravado, Monarch?
Best
BR
- #9,430
- Jul 24, 2007 9:16pm Jul 24, 2007 9:16pm
- Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts
- #9,432
- Jul 24, 2007 9:17pm Jul 24, 2007 9:17pm
- Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts
- #9,433
- Jul 24, 2007 9:22pm Jul 24, 2007 9:22pm
- Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts
It might not go to 245 with the way the line drawn, but today candle has not ended yet, has it not?
The daily chart's MACD has not changed direction. its momentum indicator is still down, price trend main and mini both down.
On the weekly chart, the momentum indicator points south, main price trend down while min trend is up.
Monthly chart, momentum is down..
I take a stab at it ok: very likely that it goes to 245...
How about other experts? How about Bravado, Monarch?
Best
BR
That means what you have on your daily chart right now is todays bar.
- #9,435
- Jul 24, 2007 9:33pm Jul 24, 2007 9:33pm
- Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts
ADX line had raised above 20 indicating more southern storms to come (4HR)
(4HR)
- #9,437
- Jul 24, 2007 9:37pm Jul 24, 2007 9:37pm
- | Membership Revoked | Joined Feb 2007 | 1,280 Posts
ADX line had raised above 20 indicating more southern storms to come
- #9,440
- Edited 10:16pm Jul 24, 2007 9:41pm | Edited 10:16pm
- Joined Aug 2006 | Status: Trader | 3,126 Posts
*
Well after that compliment, I think I am going let Bravado reply, hope is around here.
Bravado, you now I didn't mean anything by that joke the other night, hope your not holding that against me here.
As far as my take on the GJ, I have the UJ coming to the line I discussed with NORTHPRO, we had support earlier yesterday at *119.79.
We are sitting on that line exactly on the 4 hour, so we may be exhausted on the downward move for UJ, but the Larger Fibo for the complete move the UJ made is now at 50% retrace 119.63. That is the low on March 3rd, 2007 to the high June 22nd, 2007.
This could be Wave #4 on the EW Daily, from those same lows to highs.
On the GU, I have the Fibo on the 4Hr at low 2.0469 and high at 2.0652, we are now at the 50% fibo retrace, with a support possibility around the 2.0546 line and the 61.8% fibo. It is there we could see the return back up, to re-test the high on July 24th, 2007.
Now as far as the GJ, I see the 246.09 as being the support area here, but it could drop down to 245.70 area. If we find support in this mid 245 range, which I also have as my Wave #4 on the Elliott Wave, I would expect it to bounce up to not only test, but to pass the recent high at 251.09, and stretching for the final move completing the Wave #5 at 253.91.
That would place us in a big selloff in the month of AUGUST, going through the Corrective Wave A - B - C, as Fixme1too would vouch for.
* corrections
It might not go to 245 with the way the line drawn, but today candle has not ended yet, has it not?
The daily chart's MACD has not changed direction. its momentum indicator is still down, price trend main and mini both down.
On the weekly chart, the momentum indicator points south, main price trend down while min trend is up.
Monthly chart, momentum is down..
I take a stab at it ok: very likely that it goes to 245...
How about other experts? How about Bravado, Monarch?
Best
BR
Bravado, you now I didn't mean anything by that joke the other night, hope your not holding that against me here.
As far as my take on the GJ, I have the UJ coming to the line I discussed with NORTHPRO, we had support earlier yesterday at *119.79.
We are sitting on that line exactly on the 4 hour, so we may be exhausted on the downward move for UJ, but the Larger Fibo for the complete move the UJ made is now at 50% retrace 119.63. That is the low on March 3rd, 2007 to the high June 22nd, 2007.
This could be Wave #4 on the EW Daily, from those same lows to highs.
On the GU, I have the Fibo on the 4Hr at low 2.0469 and high at 2.0652, we are now at the 50% fibo retrace, with a support possibility around the 2.0546 line and the 61.8% fibo. It is there we could see the return back up, to re-test the high on July 24th, 2007.
Now as far as the GJ, I see the 246.09 as being the support area here, but it could drop down to 245.70 area. If we find support in this mid 245 range, which I also have as my Wave #4 on the Elliott Wave, I would expect it to bounce up to not only test, but to pass the recent high at 251.09, and stretching for the final move completing the Wave #5 at 253.91.
That would place us in a big selloff in the month of AUGUST, going through the Corrective Wave A - B - C, as Fixme1too would vouch for.
* corrections