Attachments: GBP/USD or EUR/JPY or.... Whatever's moving!!

GBP/USD or EUR/JPY or.... Whatever's moving!!

#401
Edited 2:59am Jun 5, 2008 2:35am | Edited 2:59am

gamemorph
| Joined May 2008 | Status: Trader | 70 Posts

hi
I'm a newbie, I was looking trough this thread today. I see that on Smoothy, template, 5 min, GBP/USD yellow line crossing the red line from below. That mean a buy signal, or I must wait until these two fast MA's are crossing the three paralel lines?

... wow, they are crossing again, I shouwld explore this for some time, right

#402
Jun 5, 2008 2:57am Jun 5, 2008 2:57am

outofajam
| Joined Jan 2008 | Status: Trader | 129 Posts

Man what a run on the eur/jpy! Wish I was in on it

#403
Jun 5, 2008 3:02am Jun 5, 2008 3:02am

gamemorph
| Joined May 2008 | Status: Trader | 70 Posts

usd/jpy is alike. It seems that the Yen is loosing strength... but for how long?

#404
Jun 5, 2008 8:47am Jun 5, 2008 8:47am

forexer
Joined Jan 2006 | Status: FX TRADER | 861 Posts

after a good fundamentals coming from euro zone the eur/j is on the way to hit 164.80 my targeted level .

I always knew that someday I would make it big

#405
Jun 5, 2008 8:55am Jun 5, 2008 8:55am

ah_nen
| Joined May 2008 | Status: Trader | 45 Posts

how far do u think it will go?

#406
Jun 6, 2008 5:36am Jun 6, 2008 5:36am

hard1head1
| Commercial User | Joined Jul 2006 | 2,566 Posts

USE YOUR CHARTS

Quoting ah_nen

Disliked

how far do u think it will go?

Ignored

#407
Jun 7, 2008 9:32am Jun 7, 2008 9:32am

zweig
| Additional Username | Joined Jun 2008 | 217 Posts

hallo traders..
ive attached a daily chart of the eur/jpy where we can see its in a rising wedge formation.we all know its a trend reversal setup. you can see ive got 4 legs in the wedge and we looking for the final leg to 5 . can anyone help me out with the elliot wave formula,where possible leg 5 will be. can you also tell me how do you work the final leg out.

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#408
Edited 11:55pm Jun 7, 2008 11:50pm | Edited 11:55pm

Money Duck
| Membership Revoked | Joined Dec 2005 | 101 Posts

Quoting zweig

Disliked

hallo traders..
ive attached a daily chart of the eur/jpy where we can see its in a rising wedge formation.we all know its a trend reversal setup. you can see ive got 4 legs in the wedge and we looking for the final leg to 5 . can anyone help me out with the elliot wave formula,where possible leg 5 will be. can you also tell me how do you work the final leg out.

Ignored

Haven't posted to this forum in a while, so I am not sure if it will take all 3 images I am going to post.

First image I have applied FIBs to in order to find a possible area for the pair to turn. We are looking for a level of convergence between multiple indicators or tools.

Second image I moved the first FIBs out of the way a bit to pull another set of FIBs on a later move. Notice that the 61.8 level of BOTH FIB pulls are close to each other.

Third image I have pulled more candles into the chart to see if there were any HIGHS (RESISTANCE) that could possible support the idea that the pair may turn around those projected FIB levels. Looking back you can see that there was a DOUBLE TOP. Drawing a horizontal line across those tops we can see that they do line up with our FIB-X levels.

This gives us a good projected target for an expected turn.

DZ: DOUBLE ZERO LEVEL

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- SAFE TRADING MONEY DUCK

#409
Jun 8, 2008 11:58am Jun 8, 2008 11:58am

forexer
Joined Jan 2006 | Status: FX TRADER | 861 Posts

eur/j take profit order was hit at 164.80.
the pair was so generous and cleared 164.90 (23 april high level),and passed through 165.00 level on its way to 166.10 only to stall at this level

all these dramatic moves of the e/j pair is raising a question in every trader's head:

how far that pair will take us?

im on the sideline ,repositioning myself for shortin the pair when it reaches the 167.35 and 168.60 historical barrier

I always knew that someday I would make it big

#410
Edited 2:46pm Jun 8, 2008 12:38pm | Edited 2:46pm

forexer
Joined Jan 2006 | Status: FX TRADER | 861 Posts

Quoting ah_nen

Disliked

how far do u think it will go?

Ignored

watch these levels very carefully [167.35 and 168.70 ]

for the upside i think if the pair breaks through the 169.20 level . the sky is the limit.

good luck to all

I always knew that someday I would make it big

#411
Edited 4:51pm Jun 8, 2008 12:53pm | Edited 4:51pm

hard1head1
| Commercial User | Joined Jul 2006 | 2,566 Posts

We ar currently in a Rising Bearish Wedge and this thing is poised to fall off of the cliff. I hope this Daily chart gives you some direction. Here is my idea. Wait for the 5 Min Smoothy to put you in short and trade the retracement of Fridays NFP, or wait for the retracement to get in long and trade up to the top of the wedge. The long term is up.

Jim

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#412
Jun 8, 2008 1:10pm Jun 8, 2008 1:10pm

zweig
| Additional Username | Joined Jun 2008 | 217 Posts

also divergance on daily stockastic

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#413
Jun 8, 2008 4:47pm Jun 8, 2008 4:47pm

hard1head1
| Commercial User | Joined Jul 2006 | 2,566 Posts

Darn if he didnt beat me to it.... Hey guys, this is the dude I have been telling you all about.

J

Quoting Money Duck

Disliked

Haven't posted to this forum in a while, so I am not sure if it will take all 3 images I am going to post.

First image I have applied FIBs to in order to find a possible area for the pair to turn. We are looking for a level of convergence between multiple indicators or tools.

Second image I moved the first FIBs out of the way a bit to pull another set of FIBs on a later move. Notice that the 61.8 level of BOTH FIB pulls are close to each other.

Third image I have pulled more candles into the chart to see if there were any HIGHS (RESISTANCE) that could possible support the idea that the pair may turn around those projected FIB levels. Looking back you can see that there was a DOUBLE TOP. Drawing a horizontal line across those tops we can see that they do line up with our FIB-X levels.

This gives us a good projected target for an expected turn.

DZ: DOUBLE ZERO LEVEL

Ignored

#414
Jun 8, 2008 5:16pm Jun 8, 2008 5:16pm

zweig
| Additional Username | Joined Jun 2008 | 217 Posts

i personally wont take any long positions on eur/jpy,, this pair gonna fall of the cliff in the next week or 2 .

#415
Jun 8, 2008 5:23pm Jun 8, 2008 5:23pm

fxstman
| Joined Aug 2007 | Status: Trader | 565 Posts

Quoting Money Duck

Disliked

Haven't posted to this forum in a while, so I am not sure if it will take all 3 images I am going to post.

First image I have applied FIBs to in order to find a possible area for the pair to turn. We are looking for a level of convergence between multiple indicators or tools.

Second image I moved the first FIBs out of the way a bit to pull another set of FIBs on a later move. Notice that the 61.8 level of BOTH FIB pulls are close to each other.

Third image I have pulled more candles into the chart to see if there were any HIGHS (RESISTANCE) that could possible support the idea that the pair may turn around those projected FIB levels. Looking back you can see that there was a DOUBLE TOP. Drawing a horizontal line across those tops we can see that they do line up with our FIB-X levels.

This gives us a good projected target for an expected turn.

DZ: DOUBLE ZERO LEVEL

Ignored

MD, nice stuff on the chart. Is that a paid sevice that those are provided by? or some type of indic's
Thanks for the charts. I've been looking at the same area as well to start building in a short position.

GLT

#416
Edited 4:10am Jun 9, 2008 3:58am | Edited 4:10am

Money Duck
| Membership Revoked | Joined Dec 2005 | 101 Posts

There were several good trades through the Asian and Euro session.

This last trade alone has hit TARGET 3 and pulled in around 80 pips.

With this setup the 89 SMMA is the indicator that you are using as a TREND INDICATOR. Since the pair was above the 89 SMMA, you would want to take ONLY LONG positions for those that are new to trading.

I would recommend that only experienced traders trade against the trend. Only traders that have learned how to trade against the trend properly. You need to know how to adjust lot size according to entry criteria as well as your stop and limit areas. These are different than when you are trading with the trend.

I figured I would add the daily chart. Pair is up around 150 pips from Fridays close. We have about another 100 pips to our target. The pair is currently around a DZ LEVEL: 167.00

Attached Image(s) (click to enlarge)