DislikedHere's my predictions for today.. I could be wrong. Dont trade blindly. I will see guys later for NFP.Ignored
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #46,923
- Nov 1, 2007 8:52pm Nov 1, 2007 8:52pm
- | Commercial User | Joined Dec 2006 | 1,016 Posts
How is it up daily for you but weekly MOM is down..The week is over after today and if daily up then the weekly MOM would be wrong
Here's my predictions for today.. I could be wrong. Dont trade blindly. I will see guys later for NFP.
- #46,927
- Nov 1, 2007 9:34pm Nov 1, 2007 9:34pm
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
For those wondering if price will continue to go down or will it go up or just be on a retracement....
I would like to offer my view basedon what I think is based on EW Theory.
Basically, I think we are in a sideways expanding FLAT corrective wave 4.
so we saw price went down to 237.60 and reversing to the upside now.
See the 1st chart which is a 1min chart. it traces how I expect price to travel on my chart.
The second chart forecasts Price movement up to next week.
Because of the nature of the expanded FLAT Corrective wave that I expect this to be, I expect price to go up to the Levels of 242.23 up to 242.78 then come down again but going lower than previous low of 237.60 towards 235.53.
After which Price is expected to Rally North towards 245-247 to finish off the wave 3 up of a final bigger wave 5.
In other words, I am not expecting price to drop to HELL or even below previous low of 219.31.
NOT Yet at least. But these are just based on what I think my charts and the waves are showing me.
I can still be wrong.
I would like to thank Auslanco for allowing me to Post my current views on GBPJPY.
EG
I would like to offer my view basedon what I think is based on EW Theory.
Basically, I think we are in a sideways expanding FLAT corrective wave 4.
so we saw price went down to 237.60 and reversing to the upside now.
See the 1st chart which is a 1min chart. it traces how I expect price to travel on my chart.
The second chart forecasts Price movement up to next week.
Because of the nature of the expanded FLAT Corrective wave that I expect this to be, I expect price to go up to the Levels of 242.23 up to 242.78 then come down again but going lower than previous low of 237.60 towards 235.53.
After which Price is expected to Rally North towards 245-247 to finish off the wave 3 up of a final bigger wave 5.
In other words, I am not expecting price to drop to HELL or even below previous low of 219.31.
NOT Yet at least. But these are just based on what I think my charts and the waves are showing me.
I can still be wrong.
I would like to thank Auslanco for allowing me to Post my current views on GBPJPY.
EG
- #46,929
- Nov 1, 2007 9:51pm Nov 1, 2007 9:51pm
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
EW aren't that accurate in my experience. I don't like EW counts. It could go wrong easily. Not to offend u personally .
If u think EW is good, then I salute u man.
Just trade what u know best. Thanks for the charts.
I use EW to track PROBABLE Price DIRECTION . But I supplement it with other Systems.
I am fascinated by Auslanco's System. But I could not get the indicators to run on my computer for more than 24 hours as my MT4 Crashes all the time.
But he has a higher probability of forecasting price direction and turning Points. So I just lurk here and read the exchanges.
EG
For those wondering if price will continue to go down or will it go up or just be on a retracement....
I would like to offer my view basedon what I think is based on EW Theory.
Basically, I think we are in a sideways expanding FLAT corrective wave 4.
so we saw price went down to 237.60 and reversing to the upside now.
See the 1st chart which is a 1min chart. it traces how I expect price to travel on my chart.
The second chart forecasts Price movement up to next week.
Because of the nature of the expanded FLAT Corrective wave that I expect this to be, I expect price to go up to the Levels of 242.23 up to 242.78 then come down again but going lower than previous low of 237.60 towards 235.53.
After which Price is expected to Rally North towards 245-247 to finish off the wave 3 up of a final bigger wave 5.
In other words, I am not expecting price to drop to HELL or even below previous low of 219.31.
NOT Yet at least. But these are just based on what I think my charts and the waves are showing me.
I can still be wrong.
I would like to thank Auslanco for allowing me to Post my current views on GBPJPY.
EG
elgrande:
Are your projections for today? This thread deals with
day trading and most of the posts are projections
related to that timeframe.
- #46,931
- Nov 1, 2007 10:04pm Nov 1, 2007 10:04pm
- | Joined Aug 2007 | Status: The PipsMaker | 290 Posts
Hi, does anyone know if 238.4 is any sort of a resistance, I've been looking at the charts and it seems to be one, I have nothing on my charts tho. Thanks
May the Pips be with You 
Let's Pimp some Pips!
Let's Pimp some Pips!- #46,933
- Nov 1, 2007 10:19pm Nov 1, 2007 10:19pm
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
elgrande:
Are your projections for today? This thread deals with
day trading and most of the posts are projections
related to that timeframe.
As you will notice, there was a 1min chart and the other was a 15m chart.
The whole Up and down on the 15 minute chart could reflect what can happen until next week.
Projections are based on EW Rules (as I understand them ) together with known Fibonacci relationship between Waves.
I basically presented it here to hopefully provide others with an EW Perspective as to hwo we expect price to move.
For those not familiar with EW and who probably dislike it ( just skip my post please).
EG
- #46,934
- Nov 1, 2007 10:51pm Nov 1, 2007 10:51pm
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
so, we did have a retrace to 239 I see
time to make for pips now.. 4h momentum is still bearish
time to make for pips now.. 4h momentum is still bearish
Trade what you see, not what you think.
- #46,935
- Nov 1, 2007 11:00pm Nov 1, 2007 11:00pm
- | Commercial User | Joined Dec 2006 | 1,016 Posts
Right on mi DOT!
so, we did have a retrace to 239 I see
time to make for pips now.. 4h momentum is still bearish
- #46,936
- Nov 1, 2007 11:01pm Nov 1, 2007 11:01pm
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
possible 4hr 5sma retracement (239) even though new momentum is bearish
t1t
Trade what you see, not what you think.
- #46,937
- Nov 1, 2007 11:09pm Nov 1, 2007 11:09pm
so, we did have a retrace to 239 I see
time to make for pips now.. 4h momentum is still bearish
4HR 50% retract would be 235.70 area which would be the retract from 241.25. Is this where you see this heading? Thanks. sw
The Will is Greater than the Skill
- #46,938
- Nov 1, 2007 11:10pm Nov 1, 2007 11:10pm
- Joined Apr 2006 | Status: Trader | 2,429 Posts
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
- #46,939
- Nov 1, 2007 11:11pm Nov 1, 2007 11:11pm
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trade what you see, not what you think.
- #46,940
- Nov 1, 2007 11:11pm Nov 1, 2007 11:11pm
- | Commercial User | Joined Dec 2006 | 1,016 Posts
80's Baby Gift!LOL Just like we did with the dow that day
Just like we did with the dow that day