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Harmonic Wave Journal

  • #1,021
  • Sep 22, 2007 9:24am Sep 22, 2007 9:24am
Quoting SeekingLight
Curious to see what GBPUSD will do...will it make a 3 up or not(that's my preferred current wave after finishing 1 up to 2.0368, 2 down to 1.9880)...would be fun
Well, I'm crossing my fingers on EUR/USD, this pair is a strong monster.

Yea I have a target above 118 for USD/JPY for now. If it's a wave 3, it'll even reach higher (might be above 120 or beyond).
Cable seems to be finishing its subwave 1 of wave 3 up, or just mini wave C of subwave B up of wave 2 down. There are few other alternatives also, man don't you really like that. However I'm still targetting my 2.0800 dream.
Tra-X
  • #1,022
  • Sep 23, 2007 7:10am Sep 23, 2007 7:10am
Finally wave count updates after 2 weeks. Cable is prolly still in its wave (red) 2 of big wave 5 up. Mini wave (magenta) C of subwave (orange) B is finishing, level at ~2.0260 is important, 2.0310 area is next. Need to watch out of possible impulse subwave 3 of wave 3 upwards instead.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 30m.gif Size: 21 KB
Tra-X
  • #1,023
  • Sep 23, 2007 7:16am Sep 23, 2007 7:16am
EUR/USD has prolly finished or nearly finished its final wave (red) 5 up in a bigger ending diagonal wave 5 (or C?). Pushing further upwards, especially above 1.42 might mean that this medium-longterm count is false.
Attached Image (click to enlarge)
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Tra-X
  • #1,024
  • Sep 23, 2007 7:20am Sep 23, 2007 7:20am
My bet is that this would be the final week that GBP/JPY has chance to push upwards. If it fails to do so, next next week there might be a harsh punishment for the Godzilla; 190.00 would be on the cards. I prefer uptrend continuation, with this pair hitting above 240.00 next. Guess that USD/JPY would be the main engine for its upwards push.

Good luck to everyone next week.
Attached Image (click to enlarge)
Click to Enlarge Name: gj 1h part 1.gif Size: 25 KB
Tra-X
  • #1,025
  • Sep 23, 2007 2:30pm Sep 23, 2007 2:30pm
Quoting Traex
Finally wave count updates after 2 weeks. Cable is prolly still in its wave (red) 2 of big wave 5 up. Mini wave (magenta) C of subwave (orange) B is finishing, level at ~2.0260 is important, 2.0310 area is next. Need to watch out of possible impulse subwave 3 of wave 3 upwards instead.
First off: well done on the weekly results!

Still doing it I see

Cable seems to present us with the nicest chance for profit. We at least go to 2.0240 next to finish the normal C. If we go past there, the next level is already so high that I don't think it could be a B for another C down anymore, so above 2.0320ish and we've got to already be in the next wave up and have finished the 2 at 1.9875.

This would put wave 3 targets at: 2.0590 / 2.0860 / 2.1.

:o

Right now I'd already be happy to see 2.04!

We were promised a touch / revisit again weeks ago! For shame!

Best pair to still go long on if it IS to still rise. EURUSD is close to a potential last burst into 1.4150 it appears, then perhaps finally your long awaited correction or move lower?

Tricky stuff, but the moves have gotten shallower imho. Looks to be finishing the cycles for that 3 / 5 end.
Scary projection still hints at 1.4210 / 1.435 / 1.444....but let's hope it won't come to that
Trust price. Know yourself.
  • #1,026
  • Sep 23, 2007 3:30pm Sep 23, 2007 3:30pm
Quoting SeekingLight
Tricky stuff, but the moves have gotten shallower imho. Looks to be finishing the cycles for that 3 / 5 end.
Scary projection still hints at 1.4210 / 1.435 / 1.444....but let's hope it won't come to that
Thanks SeekingLight for all your views here. Will EUR/USD be another champion this week? All the best to your trades.

I've got nothing to do now as I was doing my assignment whole night, so here I paste my zoomed-out wave labelling collections since I started counting early this year. Enjoy.
Attached Image (click to enlarge)
Click to Enlarge Name: gu daily.gif Size: 31 KB
Tra-X
  • #1,027
  • Sep 23, 2007 7:25pm Sep 23, 2007 7:25pm
Quoting Traex
Hi pedaso07, thanks and welcome.
Currently I'm just using waves and fibos (and some trendlines). I have alternative setting using bollinger bands but seldom use it.
Hi Traex, thanks for the info, lookig forward to follow your fine work...

Thanks for sharing your journal.

best regards Lucy q.
  • #1,028
  • Sep 24, 2007 1:14am Sep 24, 2007 1:14am
Opportunity #G45/07
GBP/USD Short
3 parts
Entry: 2.0299
Stop (initial): 2.0349

End of subwave B of 2, or mini wave 1 of 3 (?).
Tra-X
  • #1,029
  • Edited 7:47am Sep 24, 2007 2:19am | Edited 7:47am
Opportunity #G45/07
GBP/USD Short
3 parts
Entry: 2.0299
Stop (initial): 2.0349

End of subwave B of 2, or mini wave 1 of 3 (?).

Update 1: Took 1st profit at 2.0257 (+42). S/L tightened to 2.0299 (guarantees breakeven).
Tra-X
  • #1,030
  • Sep 24, 2007 2:24am Sep 24, 2007 2:24am
Quoting Traex
Opportunity #G45/07
GBP/USD Short
3 parts
Entry: 2.0299
Stop (initial): 2.0349

End of subwave B of 2, or mini wave 1 of 3 (?).

Update 1: Took 1st profit at 2.0257 (+42). S/L tightened to 2.0321 (guarantees -22).

Morning! Well it better be the 3 in progress right now!

It's exceeded any other thing I can fit it into with my convoluted logic and I ain't buying USD just yet!

Nice entry, but I'm amazed you didn't take 315

Have a great week!

Darn EURUSD hit first TP for EURUSD at 1.4125, but missed 1.4130...still waiting for the next stab higher

Let's see how high we can go without the world ending..
Trust price. Know yourself.
  • #1,031
  • Sep 24, 2007 3:41am Sep 24, 2007 3:41am
Quoting Traex
Opportunity #G45/07
GBP/USD Short
3 parts
Entry: 2.0299
Stop (initial): 2.0349

End of subwave B of 2, or mini wave 1 of 3 (?).

Update 1: Took 1st profit at 2.0257 (+42). S/L tightened to 2.0321 (guarantees -22).
Well done on another great week.

I was surprised about this trade, GBP was strong in Asian session and again in early Euro session. I thought the GBP might target 2.0360. Great trade.
  • #1,032
  • Sep 24, 2007 9:51am Sep 24, 2007 9:51am
This is a daily GBPJPY chart that I´ve posted a couple of times elsewhere.

I´m finding this 227.50 - 235.50 to whippy to make an EW count, so I´m happy taking entries off my 5 min chart as I see them, until one of the levels breaks.

A close above the W1 low will negate this possible count.
Attached Image (click to enlarge)
Click to Enlarge Name: sep24 daily.gif Size: 15 KB
Trading Levels with WRBs
  • #1,033
  • Sep 24, 2007 12:29pm Sep 24, 2007 12:29pm
Quoting Traex
Opportunity #G45/07
GBP/USD Short
3 parts
Entry: 2.0299
Stop (initial): 2.0349

End of subwave B of 2, or mini wave 1 of 3 (?).

Update 1: Took 1st profit at 2.0257 (+42). S/L tightened to 2.0299 (guarantees breakeven).


Hmmmmm. Okay let's pretend for my nerves' sake that it's 5.3.2 currently in progress.

Am I correct in assuming a possible wave end for it is from 2.0150 to 1.9965?

Or is the 2 correction of a 3 wave not allowed to go lower than 50% since it's the strongest impulse? What's the rule there?

Wait - is that fib even right? Shouldn't the fib low be at 1.9950 instead?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_2309007_32.gif Size: 33 KB
Trust price. Know yourself.
  • #1,034
  • Sep 24, 2007 1:07pm Sep 24, 2007 1:07pm
Thanks SeekingLight and Vantage. What a boring market today.

Quoting Islander
This is a daily GBPJPY chart that I´ve posted a couple of times elsewhere.

I´m finding this 227.50 - 235.50 to whippy to make an EW count, so I´m happy taking entries off my 5 min chart as I see them, until one of the levels breaks.

A close above the W1 low will negate this possible count.
Thanks Islander, I noticed that in weekly chart there's a danger of head & shoulders formation. This and next week would be critical imho. Need to push upwards soon or be smacked.
Tra-X
  • #1,035
  • Sep 24, 2007 1:13pm Sep 24, 2007 1:13pm
Quoting SeekingLight
Hmmmmm. Okay let's pretend for my nerves' sake that it's 5.3.2 currently in progress.

Am I correct in assuming a possible wave end for it is from 2.0150 to 1.9965?

Or is the 2 correction of a 3 wave not allowed to go lower than 50% since it's the strongest impulse? What's the rule there?

Wait - is that fib even right? Shouldn't the fib low be at 1.9950 instead?
Currently my fib is from 1.9950 to 2.0317, yeah. I'm really not sure what retracement % would this mini wave 2 go, but normally in a wave 3, its sub-wave 2 would retrace only to ~38.2-50%. Just from observation here.
Still can't rule out possibility of subwave C down of 2 tho.
Tra-X
  • #1,036
  • Sep 24, 2007 1:26pm Sep 24, 2007 1:26pm
Quoting Traex
Currently my fib is from 1.9950 to 2.0317, yeah. I'm really not sure what retracement % would this mini wave 2 go, but normally in a wave 3, its sub-wave 2 would retrace only to ~38.2-50%. Just from observation here.
Still can't rule out possibility of subwave C down of 2 tho.


Okay, thanks. Well, below that 140-180 area / 2.0125 tops and I'd get skeptical either way. That pretty much "has to" hold for me, otherwise I'll have to move aside again.

Missed the PB short at the high at 2.0280, next time I'll have to take a bit more profit there...Oh well

Let's see how it goes...good luck! May you ride the 3 with me if it ever comes!
Trust price. Know yourself.
  • #1,037
  • Sep 24, 2007 1:44pm Sep 24, 2007 1:44pm
Opportunity #G45/07
GBP/USD Short
3 parts
Entry: 2.0299
Stop (initial): 2.0349

End of subwave B of 2, or mini wave 1 of 3 (?).

Update 1: Took 1st profit at 2.0257 (+42). S/L tightened to 2.0299 (guarantees breakeven).
Update 2: Took 2nd profit at 2.0206 (+93). S/L tightened to 2.0276 (guarantees +23).
Tra-X
  • #1,038
  • Sep 24, 2007 2:05pm Sep 24, 2007 2:05pm
Quoting SeekingLight
Okay, thanks. Well, below that 140-180 area / 2.0125 tops and I'd get skeptical either way. That pretty much "has to" hold for me, otherwise I'll have to move aside again.

Missed the PB short at the high at 2.0280, next time I'll have to take a bit more profit there...Oh well

Let's see how it goes...good luck! May you ride the 3 with me if it ever comes!
Alright, guess that's it for today.

Yeah, I'm still also "dreaming" of 2.08 - 2.1 area for cable. So let's go for it!
Tra-X
  • #1,039
  • Sep 24, 2007 11:16pm Sep 24, 2007 11:16pm
Opportunity #G45/07
GBP/USD Short
3 parts
Entry: 2.0299
Stop (initial): 2.0349

End of subwave B of 2, or mini wave 1 of 3 (?).

Update 1: Took 1st profit at 2.0257 (+42). S/L tightened to 2.0299 (guarantees breakeven).
Update 2: Took 2nd profit at 2.0206 (+93). S/L tightened to 2.0276 (guarantees +23).
Update 3: Took last profit at 2.0124 (+175). Trade is closed.

Total gain: +310
Tra-X
  • #1,040
  • Sep 24, 2007 11:26pm Sep 24, 2007 11:26pm
Less than 24 hours 310 pips? Well done, how many can do it for a major.
Still waters run deep
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