GBPJPY Update for Potential Direction
Attached Image(s) (click to enlarge)
- #1,242
- Nov 29, 2007 9:05am Nov 29, 2007 9:05am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
possible scenario
SL @b 225.35
EG
SL @b 225.35
EG
- #1,243
- Nov 30, 2007 2:38am Nov 30, 2007 2:38am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
Based on my chart and EW Count, GBPJPY is poised to unleash its power during the NY session onwards today.
Point 0 @ 225.70
Point 1 @ 227.16
Point 2 @ 226.11, 225.90
Point 3 @ 227.83
Point 4 I believe went into an expanded flat corrective wavea nd ended @ 227.11
Now Wave 4 is stil expanding and looks like producing a Symmetrical triangle.
So we probably have an expanded flat and a symmetrical triangle for this wave 4.
As it is still expanding sideways now on the 15min chart, it could be ripe to shoot up after NY session opens.
Sometimes when you look at your charts for too long, you get to see some distinct patterns like this one and you will be able to (like in my case now) take a wild guess on what is next to happen. And with the help of EW, I think we have a very good chance.
Happy trading everyone.
EG
Point 0 @ 225.70
Point 1 @ 227.16
Point 2 @ 226.11, 225.90
Point 3 @ 227.83
Point 4 I believe went into an expanded flat corrective wavea nd ended @ 227.11
Now Wave 4 is stil expanding and looks like producing a Symmetrical triangle.
So we probably have an expanded flat and a symmetrical triangle for this wave 4.
As it is still expanding sideways now on the 15min chart, it could be ripe to shoot up after NY session opens.
Sometimes when you look at your charts for too long, you get to see some distinct patterns like this one and you will be able to (like in my case now) take a wild guess on what is next to happen. And with the help of EW, I think we have a very good chance.
Happy trading everyone.
EG
- #1,244
- Nov 30, 2007 2:45am Nov 30, 2007 2:45am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
Well, actually, no. But then, you probably haven't seen the Framework that I am talking about.
Come to a webcast and I can explain more - as I did to the fib guy at EWI, who agreed with what I was saying...
Would you be nice enough to go by your name and start a thread where you can discuss this Framework you are talking about?
But should you decide or prefer to discuss it here, I would be honoured to host that in this thread.
However if you are out to entice people to your webcast to lure them into paying for a course, I think you should do that on a different thread.
Many here write in this forum to share and learn from each other FOR FREE.
I know you have not placed your web site link here. So I googled the topic and I ended up in your webside. Now if that was not your website and you are not trying to lure people to your webcast so that they enroll in your sessions for a fee, then please accept my apology.
I in particular am interested in the Framework you have hinted. I use FIBS and many different ways in my trading system. So, learning something new from you would really be a good addition to my trading analysis.
EG
- #1,245
- Nov 30, 2007 3:49am Nov 30, 2007 3:49am
- | Joined Sep 2006 | Status: Jai Shewaramani | 95 Posts
Hi EG
I wanted to thank you again for teaching all of us the method of EW.
I have been learning from you and doin some analysis on my own too, and initiating trades on my mini account...so far has been profitable..as u can see that in the chart below. (The profit is in terms of points)
Thank you and keep up the good work
Kevin
I wanted to thank you again for teaching all of us the method of EW.
I have been learning from you and doin some analysis on my own too, and initiating trades on my mini account...so far has been profitable..as u can see that in the chart below. (The profit is in terms of points)
Thank you and keep up the good work
Kevin
- #1,246
- Edited 7:46am Nov 30, 2007 6:55am | Edited 7:46am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
Here is my current take on GBPJPY
GBPJPY is now starting the leg C down of a zigzag wave 4. Looking at 227.60 max or higher as TP.
>>>>update Probably still expanding sideways to make a bigger Zigzag since wave 4 takes a longer time to form (PUTTING IN THE TIME COMPONENT)
From there GBPJPY goes up toward 229-231 to finish off the wave 5 inside a wave 3.
Then it descends again towards 226.60 before continuing its journey upwards towards the 240 area for the wave 5 of a Wave a sub wave 1 of big wave 5 up to exceed 251
Or this could be just the Wave C Up of the Big wave B from 219.
EG
Update: Thinking that this could also be a symmetrical triangle which is common in a wave 4.
however I am keeping my options open. wave 2 was an expanded sideways corrective wave. So I am expecting wave 4 to be a sharp zigzag....
we will see.....
GBPJPY is now starting the leg C down of a zigzag wave 4. Looking at 227.60 max or higher as TP.
>>>>update Probably still expanding sideways to make a bigger Zigzag since wave 4 takes a longer time to form (PUTTING IN THE TIME COMPONENT)
From there GBPJPY goes up toward 229-231 to finish off the wave 5 inside a wave 3.
Then it descends again towards 226.60 before continuing its journey upwards towards the 240 area for the wave 5 of a Wave a sub wave 1 of big wave 5 up to exceed 251
Or this could be just the Wave C Up of the Big wave B from 219.
EG
Update: Thinking that this could also be a symmetrical triangle which is common in a wave 4.
however I am keeping my options open. wave 2 was an expanded sideways corrective wave. So I am expecting wave 4 to be a sharp zigzag....
we will see.....
- #1,247
- Nov 30, 2007 6:57am Nov 30, 2007 6:57am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
Hi EG
I wanted to thank you again for teaching all of us the method of EW.
I have been learning from you and doin some analysis on my own too, and initiating trades on my mini account...so far has been profitable..as u can see that in the chart below. (The profit is in terms of points)
Thank you and keep up the good work
Kevin
I hope that I am really able to help other traders like you understand EW better. I too am still learning. But if I can help others better inderstand EW, then that is a plus.
I also learn from everyones posts in this thread.
EG
- #1,248
- Nov 30, 2007 7:44am Nov 30, 2007 7:44am
- | Joined Sep 2006 | Status: Jai Shewaramani | 95 Posts
Here is my current take on GBPJPY
GBPJPY is now starting the leg C down of a zigzag wave 4. Looking at 227.60 max or higher as TP.
From there GBPJPY goes up toward 229-231 to finish off the wave 5 inside a wave 3.
Then it descends again towards 226.60 before continuing its journey upwards towards the 240 area for the wave 5 of a Wave a sub wave 1 of big wave 5 up to exceed 251
Or this could be just the Wave C Up of the Big wave B from 219.
EG
Update: Thionking that this could also be a symmetrical triangle which is common in a wave 4.
however I am keeping my options open. wave 2 was an expanded sideways corrective wave. So I am expecting wave 4 to be a sharp zigzag....
we will see.....
what time frame is that on?
- #1,249
- Nov 30, 2007 7:47am Nov 30, 2007 7:47am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
Hey EG,
what time frame is that on?
Updated the previous post as I may have missed the time component for a wave 4 development.
EG
- #1,251
- Nov 30, 2007 8:16am Nov 30, 2007 8:16am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
Hi EG
can u plz confirm if this wave count for 30 mins is correct..
thnx
kevin
Yes Kevin. we have the same count. It is just that I view mine on the 15 min chart.
EG
- #1,253
- Nov 30, 2007 10:12am Nov 30, 2007 10:12am
We have similar counts on that Tf
But, how can you label that as sequence of 1-5 if 4 came into the 1 area...you are breaking one of the most important guidelines...
Having said that, i believe that this is a correction therefore we should label it as abcde.
I'm curious to see your opinion guys.
But, how can you label that as sequence of 1-5 if 4 came into the 1 area...you are breaking one of the most important guidelines...
Having said that, i believe that this is a correction therefore we should label it as abcde.
I'm curious to see your opinion guys.
Would you be nice enough to go by your name and start a thread where you can discuss this Framework you are talking about?
But should you decide or prefer to discuss it here, I would be honoured to host that in this thread.
However if you are out to entice people to your webcast to lure them into paying for a course, I think you should do that on a different thread.
Many here write in this forum to share and learn from each other FOR FREE.
I know you have not placed your web site link here. So I googled the topic and I ended up in your webside. Now if that was not your website and you are not trying to lure people to your webcast so that they enroll in your sessions for a fee, then please accept my apology.
I in particular am interested in the Framework you have hinted. I use FIBS and many different ways in my trading system. So, learning something new from you would really be a good addition to my trading analysis.
EG
I find that it is better to offer a structured information service like this so that people don't get confused. If I put the odd chart up, it could be very misleading for most people, particularly as the method demands that you have an overall view of several charts at a time so you get the whole picture.
Please understand that I am doing this because I was so pissed off by the rubbishy training I got, and I discovered something that no-one else has seen that is a huge benefit to traders both in its simplicity and in its effectiveness.
I invite you to come on a webcast yourself, so you can then assure people of my good intentions and, more importantly, how useful this would be to them.
Frankly, I have made very little out of the book and services I offer, and if I never ran another course, I would be happy, as running courses distracts me from my trading. If someone wants to do the course, they have to pay for my time and that of my wife, Olga. It's a very good deal for traders, and involves a lot of work for us even before the student comes on their one-on-one course. We designed and wrote the book ourselves and we chose to print in colour so that it would be clearer - so that wasn't cheap and I wonder how many other traders would like to make that kind of commitment to other traders to begin with! It is also concise, as we don't want to make a simple thing complicated. Most people recover the cost of the book with their first trade, and if they don't manage that, frankly, they do need help!
I hope this clarifies things for you.
The framework is there; we just have to work on our frame of mind.
- #1,255
- Nov 30, 2007 11:28am Nov 30, 2007 11:28am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
I don't 'lure' people. I'm not being sinister! The fact is, to better explain what I have discovered, I have written a very concise book and I put on free webcasts for anyone who is interested. Some choose to do the course, but my aim is to empower traders to be able to trade for themselves without having to spend hours at their charts and on threads in forums. So, some get it from the book, others realize what they need to know from the webcasts, and that's fine by me. If they want to do a course, that's their choice and I don't hype it up and try to make them feel they are missing out if they don't do it - as so many people in this industry do. Because of the nature of the way LBT works, it only really works for people when they come to their own realization of what they need, and make a positive choice for themselves.
I find that it is better to offer a structured information service like this so that people don't get confused. If I put the odd chart up, it could be very misleading for most people, particularly as the method demands that you have an overall view of several charts at a time so you get the whole picture.
Please understand that I am doing this because I was so pissed off by the rubbishy training I got, and I discovered something that no-one else has seen that is a huge benefit to traders both in its simplicity and in its effectiveness.
I invite you to come on a webcast yourself, so you can then assure people of my good intentions and, more importantly, how useful this would be to them.
Frankly, I have made very little out of the book and services I offer, and if I never ran another course, I would be happy, as running courses distracts me from my trading. If someone wants to do the course, they have to pay for my time and that of my wife, Olga. It's a very good deal for traders, and involves a lot of work for us even before the student comes on their one-on-one course. We designed and wrote the book ourselves and we chose to print in colour so that it would be clearer - so that wasn't cheap and I wonder how many other traders would like to make that kind of commitment to other traders to begin with! It is also concise, as we don't want to make a simple thing complicated. Most people recover the cost of the book with their first trade, and if they don't manage that, frankly, they do need help!
I hope this clarifies things for you.
I must admit that teaching others takes a lot of time from our own trading time and even our personal lives.
I thus admire people who teach others for free or for a fee as this takes a lot from the teacher.
Maybe 1 of these days, I will check out your webcast.
Thank you
EG
Ok niceguy777. Thank you for your explanation.
I must admit that teaching others takes a lot of time from our own trading time and even our personal lives.
I thus admire people who teach others for free or for a fee as this takes a lot from the teacher.
Maybe 1 of these days, I will check out your webcast.
Thank you
EG
The framework is there; we just have to work on our frame of mind.
- #1,257
- Edited 2:58pm Nov 30, 2007 2:43pm | Edited 2:58pm
- | Joined Sep 2006 | Status: Jai Shewaramani | 95 Posts
We have similar counts on that Tf
But, how can you label that as sequence of 1-5 if 4 came into the 1 area...you are breaking one of the most important guidelines...
Having said that, i believe that this is a correction therefore we should label it as abcde.
I'm curious to see your opinion guys.
I knw that 4 came in the area of 1...but jus by 6 pips...at some level, I'm willing to ignore this fact coz knowing the volatile nature of gbpjpy, this might be irrelevant.
But I'm keeping an eye on the other option just in case...i.e. 3 (yellow) can become 5(yellow) and 3 (magenta), 4 (yellow) can become wave 4 (Magenta), and 5 (yellow) can become wave 5 (magenta)...
I guess only time will tell which one is the right labeling. Howevr, for the mean time I'm sticking to the present labeling and expecting a wave 4 (violet).
P.S. Assuming that GBP/JPY and EUR/JPY have the same wave count, EUR/JPY's wave 4 also entered the area of wave 1 by 23 PIPS...so there might be good chances that this might be da beginning of an ABC correction (magenta). However, I wanna wait and see how things unfold...
Waiting to hear your comments on this,
regards
kevin
- #1,260
- Edited 9:51pm Nov 30, 2007 9:36pm | Edited 9:51pm
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
Hello Everyone.
I hope everyone made money this past week.
Kevin., thank you for sharing your charts here.
niceguy777... yes EW is a bit complex and it may not be for everyone. I almost gave up on it had it not been for my 6 year old son.
I was so immersed with trading this past days that I did not see the actual pattern developing yesterday on the GBPJPY.
But after seeing Kevin's chart on EURJPY, I pulled up a GBPJPY chart to see if I can duplicate it. And what do I see on a blank chart?.........
Attached is what I just saw and wanted to share with all of you.
Let us make money next week for the Christmas Season and beyond....
Remember to share the blessings.....
Happy Weekend Everyone and Good trading for the Days to Come
EG
I hope everyone made money this past week.
Kevin., thank you for sharing your charts here.
niceguy777... yes EW is a bit complex and it may not be for everyone. I almost gave up on it had it not been for my 6 year old son.
I was so immersed with trading this past days that I did not see the actual pattern developing yesterday on the GBPJPY.
But after seeing Kevin's chart on EURJPY, I pulled up a GBPJPY chart to see if I can duplicate it. And what do I see on a blank chart?.........
Attached is what I just saw and wanted to share with all of you.
Let us make money next week for the Christmas Season and beyond....
Remember to share the blessings.....
Happy Weekend Everyone and Good trading for the Days to Come
EG
