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Auslanco - GBP/JPY and GBP/USD (newstrade)

  • #37,121
  • Oct 4, 2007 7:57pm Oct 4, 2007 7:57pm
Quoting Se[V]eN

H4 have complete gartley pattern like zoran mention...

Not sure where that came from.
  • #37,122
  • Oct 4, 2007 7:58pm Oct 4, 2007 7:58pm
Quoting Se[V]eN

H1 ,H4, Weekly,..all toppish...except daily...no sign of reversal...



weekly also seems to form head and shoulder....
i BET we will be in big drop soon...

Hmmmmm. 'Toppish', 'seems', 'I bet'. Doesn't sound like you have a very solid structure for determining the direction of a currency, let alone entries and exits, when you use these kinds of phrases in trading. How about something more specific? Show me a chart with defined reasons why you think short is in the cards immediately or next month. Charts are much easier to understand than written rationale. Thanks.

M2B
  • #37,123
  • Oct 4, 2007 8:01pm Oct 4, 2007 8:01pm
Quoting Zoran
Not sure where that came from.
  • #37,124
  • Oct 4, 2007 8:02pm Oct 4, 2007 8:02pm

i believe this is a reasonable count of EW

Quoting Geppy
Well for starters, ask 5 Elliot Wave theorists their wave count and you'll get 6 different counts. Gartley partners are pretty complicated with all the use of Fibs and are either calculated incorrectly by the individual claiming a Gartley formation or they don't come to fruition anyway. Thirdly, I've read way too many studies on how H&S patterns do NOT work. If you like, I'll try and find a link to one for you.

Quoting Geppy

So, since I'm able to negate all of your bearish arguments, I think that's reason enough to be bullish. But really, I have plenty of bullish arguments too. The most obvious being that we're in a bull trend
Attached Image (click to enlarge)
Click to Enlarge Name: ew.gif Size: 27 KB
"Analysis Is Hard But Trade Is Easy"
  • #37,125
  • Oct 4, 2007 8:05pm Oct 4, 2007 8:05pm

sorry if it not u..LOL

Quoting Zoran
Not sure where that came from.

"Analysis Is Hard But Trade Is Easy"
  • #37,126
  • Oct 4, 2007 8:07pm Oct 4, 2007 8:07pm
Quoting Se[V]eN
[left]i believe this is a reasonable count of EW
Your use of the word "reasonable" only further proves my point. You openly admit that there are other interpretations otherwise it would have read something like "this is THE EW count".
check out my blog: forexmademillionaire dot com
  • #37,127
  • Oct 4, 2007 8:08pm Oct 4, 2007 8:08pm
Quoting Zoran
Long again?!?! Where is your stop this time?
Zoran...the last trade I was in I booked 50 and moved stop to BE. I have not entered a trade again yet. I am bullish biased according to what my charts are telling me. It is 9pm here and I have been up since 4am so I will most likely not enter a trade until I wake up in the morning if I can catch a nice dip as long as there are a few hours before NFP comes out. If I walk by the charts before I go to bed and the price has dipped to the 237.15-20 area, I will prolly buy with a stop just below the 50 ema on the 1 hr chart with a tp at 237.65.Hopefully I will control my addiction for the rest of the evening and trade tomorrow..lol
  • #37,128
  • Oct 4, 2007 8:08pm Oct 4, 2007 8:08pm
Try these signals on your demo account

AUD/USD: SL 0.89417 TP 0.88180
USD/CAD: SL 0.99212 TP 1.00120
  • #37,129
  • Oct 4, 2007 8:12pm Oct 4, 2007 8:12pm
Quoting Geppy
Well for starters, ask 5 Elliot Wave theorists their wave count and you'll get 6 different counts. Gartley partners are pretty complicated with all the use of Fibs and are either calculated incorrectly by the individual claiming a Gartley formation or they don't come to fruition anyway. Thirdly, I've read way too many studies on how H&S patterns do NOT work.
Well said, Geppy. EW's are very vague, except when looking at a chart 'after' the fact in hindsight. I don't know anything about Gartley's except for what I see on Zoran's charts (which, by the way, are awesome, Zoran). Head and shoulders are a more reliable pattern based upon my own observation in trading. However, the H&S being referred to on the Weekly chart in Seven's post is about three months away from being completed, and that's if GBP/JPY starts falling immediately. Just my personal observations.

M2B
  • #37,130
  • Oct 4, 2007 8:12pm Oct 4, 2007 8:12pm
Quoting PipChick
Zoran...the last trade I was in I booked 50 and moved stop to BE. I have not entered a trade again yet. I am bullish biased according to what my charts are telling me. It is 9pm here and I have been up since 4am so I will most likely not enter a trade until I wake up in the morning if I can catch a nice dip as long as there are a few hours before NFP comes out. If I walk by the charts before I go to bed and the price has dipped to the 237.15-20 area, I will prolly buy with a stop just below the 50 ema on the 1 hr chart with a tp at 237.65.Hopefully I will control my addiction for the rest of the evening and trade tomorrow..lol

a bounce off the 50ema /1hr is due
  • #37,131
  • Oct 4, 2007 8:13pm Oct 4, 2007 8:13pm
Quoting PipChick
Lots of support underneath that price.
yes there is a ton of support at this level but also quite a bit of resitance I expect a pull back 117.00 yen should provide a good level to do this we are going into friday some profit taking should commence
Attached Image (click to enlarge)
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  • #37,132
  • Oct 4, 2007 8:15pm Oct 4, 2007 8:15pm
Quoting Hakuna Matata
a bounce off the 50ema /1hr is due
Nite all..Happy pippin!
  • #37,133
  • Oct 4, 2007 8:16pm Oct 4, 2007 8:16pm
Quoting auslanco
Try these signals on your demo account

AUD/USD: SL 0.89417 TP 0.88180
USD/CAD: SL 0.99212 TP 1.00120
Auch.. tested it on live account @ $0.02/ pip
  • #37,134
  • Oct 4, 2007 8:18pm Oct 4, 2007 8:18pm

yeah of course there are a lot of elliot count...sometimes it works and sometimes it dont ...
but dont u see the beatifull arrangement of that count?...
this time will work...


Quoting Geppy
Your use of the word "reasonable" only further proves my point. You openly admit that there are other interpretations otherwise it would have read something like "this is THE EW count".

"Analysis Is Hard But Trade Is Easy"
  • #37,135
  • Oct 4, 2007 8:19pm Oct 4, 2007 8:19pm
Quoting PipChick
Zoran...the last trade I was in I booked 50 and moved stop to BE. I have not entered a trade again yet. I am bullish biased according to what my charts are telling me. It is 9pm here and I have been up since 4am so I will most likely not enter a trade until I wake up in the morning if I can catch a nice dip as long as there are a few hours before NFP comes out. If I walk by the charts before I go to bed and the price has dipped to the 237.15-20 area, I will prolly buy with a stop just below the 50 ema on the 1 hr chart with a tp at 237.65.Hopefully I will control my addiction for the rest of the evening and trade tomorrow..lol
OK, NP
  • #37,136
  • Oct 4, 2007 8:19pm Oct 4, 2007 8:19pm
Quoting auslanco
Try these signals on your demo account

AUD/USD: SL 0.89417 TP 0.88180
USD/CAD: SL 0.99212 TP 1.00120
A new strategy on the way?
  • #37,137
  • Oct 4, 2007 8:20pm Oct 4, 2007 8:20pm
Quoting Syafi
Auch.. tested it on live account @ $0.02/ pip
These are DailyFX analysis confirmed with a new strategy I'm testing for "dead pairs"
  • #37,138
  • Oct 4, 2007 8:22pm Oct 4, 2007 8:22pm
sorry seven, but that count is not even close not by a mile not by a hundred miles
  • #37,139
  • Oct 4, 2007 8:24pm Oct 4, 2007 8:24pm
Quoting my2buoys
Well said, Geppy. EW's are very vague, except when looking at a chart 'after' the fact in hindsight. I don't know anything about Gartley's except for what I see on Zoran's charts (which, by the way, are awesome, Zoran). Head and shoulders are a more reliable pattern based upon my own observation in trading. However, the H&S being referred to on the Weekly chart in Seven's post is about three months away from being completed, and that's if GBP/JPY starts falling immediately. Just my personal observations.

M2B
Here's a chart to go with My original post on this. Price would have to close beneath the Neckline (IF there ends up being a right shoulder) in order for this to be a H&S pattern breakout. IF this were to happen we are at least one to two months away from a neckline break, barring a couple of 1000 pip back to back weekly sell-offs. Charts are amazing things. They speak a lot louder than any words I could ever speak on the subject.

M2B
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy weekly.gif Size: 26 KB
  • #37,140
  • Oct 4, 2007 8:26pm Oct 4, 2007 8:26pm
Quoting Geppy
Your use of the word "reasonable" only further proves my point. You openly admit that there are other interpretations otherwise it would have read something like "this is THE EW count".
It's not even an EW count. The numbers are labelled incorrectly. Wave 5 should be right at the top (i.e, the peak) and the numbers below should be in order.
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