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GBPJPY scalpers

  • #2,421
  • Apr 14, 2008 9:29pm Apr 14, 2008 9:29pm
Been nice volatility tonight ...

1 trade 199.80 to 199.40
1 trade199.57 to 200.1 so far

Upside targets on 60 min 200.33
200.65
200.96
201.42
Blogging daily now at www.volume.zone
  • #2,422
  • Apr 14, 2008 9:40pm Apr 14, 2008 9:40pm
I am new to FF but have been impressed by your analysis and contribution. It has been most helpful. Thanks

Quoting malcolmb14
Been nice volatility tonight ...

1 trade 199.80 to 199.40
1 trade199.57 to 200.1 so far

Upside targets on 60 min 200.33
200.65
200.96
201.42
  • #2,423
  • Apr 14, 2008 9:56pm Apr 14, 2008 9:56pm
Quoting Piters
looks like, played well ??


http://www.doske.com/fx/ew-70.png
Does ensign software draw the Elliot waves for you
Blogging daily now at www.volume.zone
  • #2,424
  • Edited Apr 15, 2008 1:32am Apr 14, 2008 10:08pm | Edited Apr 15, 2008 1:32am
Quoting malcolmb14
Does ensign software draw the Elliot waves for you
It is a simple Drawing Tool as a Fibonacci Retracement, where you can specify length of the waves, and pullbacks in %. Then you draw only first 2 waves, and the rest is projection. I still beleive that we finished 5th wave, as the 5W low is lower then 3W low. As we know, EW is only a Theory, but not the Rule. According EW:

1. Wave 2 does not fall(rise) bellow(above) the starting price of wave1
2. Wave 3 is not the shortest wave by price movement when compared to wave 1 and wave 5
3. Wave 4 does not overlap the range of wave 1

The projection of Last ABC correction went up to the PIP, I draw only A, and B pullback, and then the tool projected 200.81
Then the new 5wave move down on 15 min, also went well. Usually you should wait for wave 3 to be completed, and then you can project wave 5, but in this case all waves are almost the same, so was easy to project wave3 and wave 4 and wave 5.

It is a powerful tool If we can just get it as additional weapon in our collection, then we are better fighters in this market!!


P.S. Guys I am sorry about the size of my charts (size doesn't matter ), but I promise I am going to fix before next NY session. (my english is getting better as well ?? LOL)

Trade Safe .................
  • #2,425
  • Apr 15, 2008 3:37am Apr 15, 2008 3:37am
Quoting malcolmb14
Does ???/
http://www.doske.com/fx/ew-71.png
  • #2,426
  • Apr 15, 2008 4:28am Apr 15, 2008 4:28am
She hit my 198.50, and now she is going to go back to 199.40, even if she takes a couple hours to get there. 50 pips...not bad!
  • #2,427
  • Edited 7:19am Apr 15, 2008 5:31am | Edited 7:19am
Now, this one is tricky, we'll find out after Wave3, but only as an Idea:

EDIT: Now after the EUR News, we can see that ABC correction on 15min finished, but after the USD news we can see what direction is next, so far is making the first wave Down, but NEWS...????

http://www.doske.com/fx/ew-75.png


http://www.doske.com/fx/ew-73.png
  • #2,428
  • Apr 15, 2008 9:24am Apr 15, 2008 9:24am
Quoting Scotty B
She hit my 198.50, and now she is going to go back to 199.40, even if she takes a couple hours to get there. 50 pips...not bad!
great call.
  • #2,429
  • Apr 15, 2008 9:29am Apr 15, 2008 9:29am
Scotty,

Nice call.

As of April 15, 7:29 PDT:

I have been working on a longer time frame and it certainly tells me that we could be heading lower on a 4 hr chart on the GBPJPY. I used mirror images again, and if she breaks 198.06, or even looks weak near 198.46, I wouldn't be surprised if she goes under.

Perhaps someone can step in here with a probable level of support. Scotty?

Al
  • #2,430
  • Apr 15, 2008 10:12am Apr 15, 2008 10:12am
The left side shows a date in the past and the red arrow shows possibly where we are. The right side shows the current date and where we might be heading. Pay no attention to the amplitude because the drop could be a slow creeper, but the direction is the key

Al
Attached Image (click to enlarge)
Click to Enlarge Name: pattern correlation.gif Size: 21 KB
  • #2,431
  • Apr 15, 2008 12:13pm Apr 15, 2008 12:13pm
Quoting zebra7860
Scotty,

Nice call.

As of April 15, 7:29 PDT:

I have been working on a longer time frame and it certainly tells me that we could be heading lower on a 4 hr chart on the GBPJPY. I used mirror images again, and if she breaks 198.06, or even looks weak near 198.46, I wouldn't be surprised if she goes under.

Perhaps someone can step in here with a probable level of support. Scotty?

Al

Al , we seem to be have support 198.60 , monthly pivot and daily pivot at 199.5 ish

If she breaks 198.5 , there is minor support 198 and major support 197.

But clue on possible direction .... and I do not know why .. is the bullish divergence I see on 60 min and 4 hour macd and rsi . I would like to see this broken as we we break down under that major support at 198.5
Blogging daily now at www.volume.zone
  • #2,432
  • Apr 15, 2008 3:30pm Apr 15, 2008 3:30pm
but I think that after Intels earningse came out today at 4 pm
and they didn't disappoint investors that things are going to be headed north for a while now. That a relief because if Intels earning came in crappy we would have been headed south in a hurry. The market has new life now!

ATM she is heading wickedly north
  • #2,433
  • Apr 15, 2008 3:32pm Apr 15, 2008 3:32pm
Nice one with the updates Piters, interesting stuff.
  • #2,434
  • Apr 15, 2008 4:55pm Apr 15, 2008 4:55pm
Quoting malcolmb14
Al , we seem to be have support 198.60 , monthly pivot and daily pivot at 199.5 ish

If she breaks 198.5 , there is minor support 198 and major support 197.

But clue on possible direction .... and I do not know why .. is the bullish divergence I see on 60 min and 4 hour macd and rsi . I would like to see this broken as we we break down under that major support at 198.5
I can't understand that last chart for nothing. It has no time frame,
no dates etc.

While we have not made any new real highs, and think now there will be even more bullish divergence and you guessed it I'm already long and looking to load up on some more lots down around 199 if it gets that low overnight.
  • #2,435
  • Apr 15, 2008 4:58pm Apr 15, 2008 4:58pm
Quoting Piters
It is a simple Drawing Tool as a Fibonacci Retracement, where you can specify length of the waves, and pullbacks in %. Then you draw only first 2 waves, and the rest is projection. I still beleive that we finished 5th wave, as the 5W low is lower then 3W low. As we know, EW is only a Theory, but not the Rule. According EW:

1. Wave 2 does not fall(rise) bellow(above) the starting price of wave1
2. Wave 3 is not the shortest wave by price movement when compared to wave 1 and wave 5
3. Wave 4 does not overlap the range of wave 1

The projection of Last ABC correction went up to the PIP, I draw only A, and B pullback, and then the tool projected 200.81
Then the new 5wave move down on 15 min, also went well. Usually you should wait for wave 3 to be completed, and then you can project wave 5, but in this case all waves are almost the same, so was easy to project wave3 and wave 4 and wave 5.

It is a powerful tool If we can just get it as additional weapon in our collection, then we are better fighters in this market!!


P.S. Guys I am sorry about the size of my charts (size doesn't matter ), but I promise I am going to fix before next NY session. (my english is getting better as well ?? LOL)

Trade Safe .................
Size is fine...this way Scotty can read it without his glasses
  • #2,436
  • Apr 15, 2008 5:18pm Apr 15, 2008 5:18pm
Quoting Scotty B
I'm short on Geppy to 198.18. I haven't chimed in for a while so I figured I better. Malcomb is your other site up yet?
I didn't get short
I am looking for a move down overnight into 199 then back up at dawn for another leg up.
  • #2,437
  • Apr 15, 2008 5:31pm Apr 15, 2008 5:31pm
Alright....Here's what I'm seeing...Downtrend still reigns on the hourly. In my hybrid methods I see very weak bullish retracment, only to 23% as of the last bigs swings on the 1hr. If I recall Bo doesn't even have the 23 on his fib, so...not a whole lot a bull going on (pardon the pun), and bo's methods hold water...Okay so we are in a downtrend. I think we will see a general down run in waves (remember hybrid methods here) the first of which will stall around 199.50 and range on the 5min for a while, we will then see a wave to 198.80 and then a stall, then a wave on to 198.40 or below. So to sum it up I am currently and conservatively short to 198.50.

And my avatar came from a google picture search! But I guess I do where glasses in real life anyways....
  • #2,438
  • Apr 15, 2008 5:33pm Apr 15, 2008 5:33pm
Quoting PipAV8tor
I know you asked Malcolmb, but I thought I'd chime in since I use and rely heavily on Stoch's. I prefer the 5,3,3 on the 5 min chart and below. I use the 8,3,3 on the 15 min and above. The typical default setting is 12,3,3 but tends to lag somewhat with that setting. My stochs have a K% and a D% line setting and that cross is what is key for direction. As always, IMHO.
I also very heavily rely on stochastics to tell me of a reversal
especially when there is a cross down around 20 or up at 80.

although I comapred your settings with mine. I use RSI stochastic
at 14,14,3,3 where the first 14 is the rsi and the 14,3,3 is the stoch.
while there are some differences it doesn't seem that your settings cause the line to cross any earlier than my settings.
  • #2,439
  • Apr 15, 2008 5:35pm Apr 15, 2008 5:35pm
Bear in mind (pardon the pun again) that it will probably take a few hours to hit 198.50.
  • #2,440
  • Apr 15, 2008 5:42pm Apr 15, 2008 5:42pm
High Scotty,

Are you using a SL and if so where are you placing it.

Thank you

Billser

Quoting Scotty B
Bear in mind (pardon the pun again) that it will probably take a few hours to hit 198.50.
It's All About Attitude ...
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