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

  • #72,801
  • Apr 10, 2008 9:19pm Apr 10, 2008 9:19pm
Quoting forexlion
I hope I have drawn this correctly, this is my first attempt at elliot waves.

But if this works out we go to 203.05 and then settle down for 201.98 to close the current week.
i think the end of 3 wave is where you have 5 and we are in 4 wave but thats why Elliot wave can be difficult because it depends on interpretation
  • #72,802
  • Apr 10, 2008 9:24pm Apr 10, 2008 9:24pm
Quoting timewilltell
i think the end of 3 wave is where you have 5 and we are in 4 wave but thats why Elliot wave can be difficult because it depends on interpretation
i am basing on current week, since i am using current week fib, on a longer term you may be correct because we have a longer 218 possibility.
  • #72,803
  • Apr 10, 2008 9:24pm Apr 10, 2008 9:24pm
Weekly Inside Bar (candle) is still in play.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #72,804
  • Apr 10, 2008 9:36pm Apr 10, 2008 9:36pm
Quoting vinesh2
Q, can you post the momentum indicator? One I have is not that great I have the Momentum-Multi v1 that 14,10,1 all in one
Here ya go my friend. . . ZL Momentum for ya - enjoy!
Attached File(s)
File Type: mq4 Momentum-ZL.mq4   2 KB | 408 downloads
  • #72,805
  • Apr 10, 2008 9:37pm Apr 10, 2008 9:37pm
Quoting quecee5
Here's what I see - everything pointing down. . . Right now I'm convinced it an ABC correction and looks to be in Wave B now. . .

1hr and 4hr calling for price @ 199.60's-200.00 later 2nite. Then I see a move back up to at least 202.35 - 203.20 area. . .

Then after that a continuation of the down trend to 192 area 1st. . . Of course this will be done in 5 waves down. . .

Just my take on it. . .
Looks like this is playing out sooner than I thought. . . =
  • #72,806
  • Apr 10, 2008 9:40pm Apr 10, 2008 9:40pm
Thanks bud. I am short since 202.20 and 200.50 hoping that this thing turns down sooner then later. not having a good week since i came back from vaccation
  • #72,807
  • Apr 10, 2008 9:51pm Apr 10, 2008 9:51pm
Quoting vinesh2
Thanks bud. I am short since 202.20 and 200.50 hoping that this thing turns down sooner then later. not having a good week since i came back from vaccation
Hope you have tight SL in place =

Here is what I'm seeing - JMHO!, 4hr chart looks to have room to move up according mom and if ZL cross up then GJ will explode upwards.
Will post a 1hr chart shortly!

4hr chart for you. . .
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr charts.gif Size: 27 KB
  • #72,808
  • Apr 10, 2008 10:09pm Apr 10, 2008 10:09pm
Looking at the 1hr chart you'll notice a couple of things IMO,

1) price is above 1hr gann hi/lo and 1hr 5 SMA
2) mom looks to have room to move up a bit
3) you can count 4 waves so far within this ABC correction, it looks like Wave 4 was a sideways wave which GJ has be notorious for I've notice and it looks like there is support @ 200.30/200.40 area. . .
4) Also, it looks like GJ is in the 5th Wave which should end higher and touch the top of the channel in the 4hr chart I posted earlier. . .

Now if it breaks that channel then look for higher prices - it may be tough because it has been rejected at that area (top of the channel that is) at least 4 times dating back to Nov.

Also, consider this, GJ has been creating ascending triangles and other type of bearish formation when getting close to the upper channel which are all bearish and considered to be a continuation of he main trend (down which many are hoping or praying to the pip gods = = ), therefore I don't see this as being any different. . .

However, a break of this trend will see price up to at least 210 area 1st target. A rejection as many are expecting will see price down to 192 and lower lows.

Lets see how it plays out. . .

Good luck all in your trading I going to bed =

Please trade what u see not as I suggest, these are just my views and what I'm seeing not a trade call!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1hr chart.gif Size: 27 KB
Click to Enlarge Name: 1hr chart_2.gif Size: 26 KB
  • #72,809
  • Apr 10, 2008 10:28pm Apr 10, 2008 10:28pm
Okay, I could not resist looking at this further before going to bed. . .

Here is a Daily chart for u to study and draw your own conclusions. It gives you a better look at some possibilities to noodle on = !
Now I'm going to bed - cheers =

Daily chart for u. . .
Attached Image (click to enlarge)
Click to Enlarge Name: daily chart.gif Size: 25 KB
  • #72,810
  • Apr 10, 2008 10:38pm Apr 10, 2008 10:38pm
Night Q, thanks for the updates.
  • #72,811
  • Apr 10, 2008 10:48pm Apr 10, 2008 10:48pm
And here is a weekly chart which also suggest room to move up but may end on a down note either late Friday or starting Sunday thru next week. . .
That's, if and only if there is a rejection at the top of the channel and not a break an close above it!

Gd night all =
Attached Image(s) (click to enlarge)
Click to Enlarge Name: weekly chart.gif Size: 27 KB
Click to Enlarge Name: weekly chart2.gif Size: 21 KB
  • #72,812
  • Apr 10, 2008 10:59pm Apr 10, 2008 10:59pm
Buy buy buy buy buy buy buy buy buy buy

GBP/JPY to the 50 day MA and above

buy buy buy buy buy
  • #72,813
  • Apr 10, 2008 11:24pm Apr 10, 2008 11:24pm
Quoting NewstraderFX
Buy buy buy buy buy buy buy buy buy buy

GBP/JPY to the 50 day MA and above

buy buy buy buy buy
Why why why??
  • #72,814
  • Edited Apr 11, 2008 12:34am Apr 10, 2008 11:57pm | Edited Apr 11, 2008 12:34am
Quoting NewstraderFX
Buy buy buy buy buy buy buy buy buy buy

GBP/JPY to the 50 day MA and above

buy buy buy buy buy
Nice work spamming nearly every active thread with this "call"

Whats with your certainty on a short term move on a currency that is stuck in a typical asian range? If this is a swing trade this should be clarified.

Remember newbs are all around us taking calls without analysis with vastly smaller margin for drawdown- jamming this everywhere without clarification of entry criteria, SLs Lot size TP swing vs day trade etc borders on irresponsible...just my humble opinion
Lemming Forex! The Way to Trade....
  • #72,815
  • Apr 11, 2008 12:03am Apr 11, 2008 12:03am
Regarding your post on money management. I couldn't agree more with what you said nor could I have worded it any better! Great advise.
  • #72,816
  • Apr 11, 2008 12:09am Apr 11, 2008 12:09am
Putto

Good Point I think that the all the Newbies should take this to heart and take some time ot learn the very basic terms and tools that build a sound foundation before jumping into this. Think back to when you first learned to hammer a nail into something. I hit my finger a time or two, and even put a hole in the wall. Finally I mastered the hammering thing. The key practise, practiseand even more practise. Trading is no different you need to learn how to use the tool before you can effectivly use it!
  • #72,817
  • Apr 11, 2008 12:19am Apr 11, 2008 12:19am
It seems some people are out to make a name for themselves (check the recent postings of our friend advocating the buy). The first post was several hours ago before a 90 pip fall that would have stopped nearly all lemmings (blind followers) out. Good on him and good luck in his 50/50 endeavor in continuing to post but to me it shouldnt come at the cost of some poor schmucks account because they lemming trade. The vagueness of the call also provides no actual contribution to other peoples analysis, which is the purpose of these forums (not to provide a pissing contest).

Quoting pipwrangler
Putto

Good Point I think that the all the Newbies should take this to heart and take some time ot learn the very basic terms and tools that build a sound foundation before jumping into this. Think back to when you first learned to hammer a nail into something. I hit my finger a time or two, and even put a hole in the wall. Finally I mastered the hammering thing. The key practise, practiseand even more practise. Trading is no different you need to learn how to use the tool before you can effectivly use it!
Lemming Forex! The Way to Trade....
  • #72,818
  • Apr 11, 2008 1:21am Apr 11, 2008 1:21am
http://www.bearstockphotos.com/image...in_Snow_LG.jpg
i see this steps on my chats
  • #72,819
  • Apr 11, 2008 1:22am Apr 11, 2008 1:22am
exactly the same mistake I made.

Quoting arezab
Oh yes you are right mate. I erred looking just at forecast and actual and I thought it is previous rate. The market was moving quickly and I made a mistake by not looking carefully to those numbers ... thanks for reminding dogberry.

Though this 201.10 hits my long position's target from 199.72 with some green pips which was already over 160 pips in red so I think I'm done for today ...

Price is touching H4 GannHiLo right now, we should wait for a retrace and then it might be time to add another long ... I don't know but I'm getting out of market for some rest and enjoying the night ... that is enough for today .

I hope you all made green pips today ... good day to you all ... I'll see you tomorrow.
  • #72,820
  • Apr 11, 2008 1:30am Apr 11, 2008 1:30am
Here is my naked 1h GJ chart. I still learning a correct way to apply TL n fibo. so if any mistake i make pls do flame me but do not blame me :

I am still short bias, as my chart show the 50% area (red thick line show some history good sup/res area in past few weeks. due to that i am looking to short either a clear break below red line or a failure retest against the upper TL (green thick line). my timezone is +8 so might make my chat look a bit different.

Again, since i am really new to forex if so this just mho n pls make a comment to my point of view or point out any mistake i make so i will learn n become pips hunter like u all.

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 23 KB
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