notes on chart
Could someone tell me which pattern below is the correct EW.
So which one is correct?Ignored
I'm sure I'm not as well versed in EW as EG...but it appears that count No. 1 is the more correct of the 2. I made a few corrections to your 1st pic.Ignored
DislikedYet one other system I've paid some attention to is price crossing the 100 smas, plus RSI(55) and CCI(50) on various timeframes.
I just noticed the Daily charts have now had two days closing below the 100sma, and it so happens, also the 200sma.
The RSI (over 50) and CCI (above zero) which are supposed to be considered at the same time as the sma crossings are possibly just barely bullish.
Regardless, I would expect indecision/ranging until the market makes a choice. The bears have a slight edge, IMO.
The Nikkei is down -168 to 15603.
DislikedI want to clean up and update my count for the USD/JPY and the GBP/JPY. The count for the USD/JPY has been clear for some time and been a cash cow for those with the same count . The GBP/JPY has not been clear however, other than a test of 200.00 was imminent, it was just a matter of when. GBP/JPY was carrying out a complex correction that made it unclear when the big bear wave (as part of large C wave) would begin. But Friday's significant break of 235.24 confirms that the big bear wave (of larger wave C) is now underway and will eventually test 200.00. The USD/JPY will lead most of the move and as shown by my count, the USD/JPY is due for a correction, most likely between 38% - 62% fibonacci. That will be a good time to aggressively get short on the GBP/JPY and even the EUR/JPY, and again on the USD/JPY, as they will drop significantly. Another element adding to my bearish bias and wave count is the GBP/JPY weekly chart that shows a clear head and shoulders pattern, where wave C will complete the pattern.
DislikedGreat Work and Analysis Todd
I have beem unable to access FF website from my home computer since last friday. So I won't be able to check here and even post.
I do not know what is wrong but I have tried 4 computers from my place and none of them can connect to forex factory website.
I have also tried deleting all files and cookies in my temporary internet files and still I can not access.
Am I banned from FF Merlin?