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Daily GBP/JPY analysis

  • #14,821
  • Feb 2, 2009 9:04pm Feb 2, 2009 9:04pm
Preferably, I'm looking forward for any opportunity market to perform a bullish continuation trend to perform corrective wave c once wave b is completed (white or yellow). Please be noted that market is possible to perform another bearish retracement trend in 3 waves structure to complete wave b in yellow. A breakout to the white critical line would bolster this scenario. Otherwise a further breakout to the yellow critical line would bolster the alt count in white. Good luck.
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  • #14,822
  • Feb 3, 2009 11:41am Feb 3, 2009 11:41am
At this moment, I'm looking forward for a bearish retracement trend to perform corrective wave b in yellow before expecting for another bullish continuation trend to perform corrective wave c. Otherwise we may see a strong breakout toward the upper green trendline to perform the corrective wave c in white. Good luck.
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  • #14,823
  • Feb 3, 2009 7:23pm Feb 3, 2009 7:23pm
At this moment, I believed there will be a bearish retracement trend either to perform the corrective wave b in yellow or wave 2 in white before expecting for another bullish continuation trend to complete the corrective wave c. Please monitor both yellow and white critical lines for any breakout. Please confirm for either alt counts from BSTS later. Good luck.
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  • #14,824
  • Feb 4, 2009 7:12am Feb 4, 2009 7:12am
At this moment, I'm waiting for any breakout of the teal triangle to confirm market either in progress to complete subwave 3 in c (white) or market in progress to complete corrective wave b in yellow. Preferably, I believed market will perform a bearish retracement trend later referring towards the alt count in yellow. Good luck.
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Click to Enlarge Name: gj1hb.gif Size: 52 KB
  • #14,825
  • Feb 4, 2009 10:01am Feb 4, 2009 10:01am
Please be noted that due to the breakout to the upper green trendline, favourably market is already in bullish continuation trend referring to the alt count in white. A further true breakout to the yellow critical line would bolster this scenario. But please be careful for any double top scenario. Good luck.
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Click to Enlarge Name: gj1hb.gif Size: 53 KB
  • #14,826
  • Feb 4, 2009 9:17pm Feb 4, 2009 9:17pm
At this moment, market just performed a pullback scenario from the yellow critical line. Therefore, advisable to wait for 2nd breakout later to determine which alt counts that is more favourable. Preferably, I'm still looking for any opportunity towards the bearish retracement trend later to complete corrective wave b in yellow. But, otherwise a breakout to the yellow critical line later would bolster the bullish continuation trend referring to the alt count in white. Also, please be noted that there will be a NFP news announcement this Friday.
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  • #14,827
  • Feb 5, 2009 10:40am Feb 5, 2009 10:40am
Please be noted that due to the breakout, I need to do some recount towards the yellow alt count. A further breakout towards the green upper trendline would bolster to the alt count in white. Otherwise a valid an expanded flat corrective wave 4 and a diagonal triangle reversal pattern would favour towards the alt count in yellow. Please confirm either trend from BSTS later. Good luck.
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Click to Enlarge Name: gj1hb.gif Size: 52 KB
  • #14,828
  • Feb 5, 2009 9:53pm Feb 5, 2009 9:53pm
At this moment, I believed market in progress to complete subwave 4 or iv (white, yellow or magenta) before expecting for another bullish continuation to complete subwave 5 in corrective wave c. Also please be noted that subwave 5 could be just only a truncated wave (magenta) or an impulsive wave (white or yellow). Please analyse the latest critical lines and all alt counts. Favourably, I'm looking forward for a bullish continuation trend referring towards either the alt count in white or yellow. Also to inform that there will be a NFP news announcement today at 9.30 pm (GMT +8). Good luck and happy weekends.
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  • #14,829
  • Feb 6, 2009 1:25pm Feb 6, 2009 1:25pm
Quoting Jebatfx
At this moment, I believed market in progress to complete subwave 4 or iv (white, yellow or magenta) before expecting for another bullish continuation to complete subwave 5 in corrective wave c. Also please be noted that subwave 5 could be just only a truncated wave (magenta) or an impulsive wave (white or yellow). Please analyse the latest critical lines and all alt counts. Favourably, I'm looking forward for a bullish continuation trend referring towards either the alt count in white or yellow. Also to inform that there will be a NFP news announcement...
Jeb, I always check in on your charts, although sometimes I'm against your sentiment it's always good to see what other people think.

Keep up the charting.
  • #14,830
  • Feb 8, 2009 9:39pm Feb 8, 2009 9:39pm
Quoting forextine
Jeb, I always check in on your charts, although sometimes I'm against your sentiment it's always good to see what other people think.

Keep up the charting.
Tq and happy trading. Try to learn abt an Elliot Wave trading method so that you could understand more better when look into my charts.

At this moment, I'm looking forward for bearish retracement trend either to complete corrective wave b in magenta or wave 4 in white. Otherwise, please be careful for any wave 3 extension according to the alt count in yellow. Good luck.
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  • #14,831
  • Feb 9, 2009 9:38am Feb 9, 2009 9:38am
Preferably, I'm looking forward for any possibility towards a bearish retracement trend either to complete subwave c in b (magenta) or wave 4 (white). As long the magenta remain intact, this scenario would be valid. Otherwise, please be careful for any bullish continuation trend to complete an extension of wav 3 in yellow. Good luck.
Attached Image (click to enlarge)
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  • #14,832
  • Feb 9, 2009 12:30pm Feb 9, 2009 12:30pm
I went short, double top, plus MACD bearish div, plus way above trendline. I see at the very least a bounce at 135.5, but a break of that we may go down down down. I can't really see your price targets, I know you say letters but I can't see them haha. Can you post your numbers along with the letters to help me out. Just for a few days until I'm able to see what you're saying. Here's my chart.http://www.jetScreenshot.com/demo/20...-77g-375kb.jpg
  • #14,833
  • Feb 9, 2009 8:20pm Feb 9, 2009 8:20pm
Quoting forextine
I went short, double top, plus MACD bearish div, plus way above trendline. I see at the very least a bounce at 135.5, but a break of that we may go down down down. I can't really see your price targets, I know you say letters but I can't see them haha. Can you post your numbers along with the letters to help me out. Just for a few days until I'm able to see what you're saying. Here's my chart.http://www.jetScreenshot.com/demo/20...-77g-375kb.jpg
Tq for ur analysis. Its very good. Happy trading.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 54 KB
  • #14,834
  • Feb 10, 2009 9:59am Feb 10, 2009 9:59am
Looks like we're coming all the way back to the trendline, what are your thoughts if we get there? Not sure if we're going down down down, or if it will bounce.
  • #14,835
  • Feb 10, 2009 10:18am Feb 10, 2009 10:18am
Due to the latest market situation, please be noted that I believed market can be either in progress to perform corrective wave c in b (magenta) or in progress to perform the horizontal triangle abcde in wave 4 (white). Please confirm either trend from any breakout and from BSTS later. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 55 KB
  • #14,836
  • Feb 10, 2009 1:10pm Feb 10, 2009 1:10pm
Looking for a temporary bounce, it's been crushed so far today.
  • #14,837
  • Feb 10, 2009 8:06pm Feb 10, 2009 8:06pm
Quoting forextine
Looking for a temporary bounce, it's been crushed so far today.
In and out of GJ.

Now not sure what's going to happen going into London.

DOW was whacked way down today, and considering GJ follows it, I think it's up tomorrow as a small bounce.

Looking at the 4hr, this may be the new bottom and ready to head up. I may just stay away for a while and trade EJ as it's much more tame lol.
  • #14,838
  • Feb 10, 2009 8:42pm Feb 10, 2009 8:42pm
Please be noted that both alt counts in white and yellow is already invalid. Preferably, I believed market in bearish retracement trend to complete the corrective wave b in magenta. But, please be careful since b (magenta) have few possibilities which is either at fibo 61.8%, double bottom or triple bottom. Therefore, please confirm from BSTS later for any bullish continuation trend to perform corrective wave c once wave b is completed (magenta). Good luck.
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Click to Enlarge Name: gj1hb.gif Size: 54 KB
  • #14,839
  • Feb 11, 2009 10:21am Feb 11, 2009 10:21am
At this moment, please study the latest possible alt counts. Preferably, I believed market in progress to complete corrective wave b either in magenta, yellow or white before expecting for any bullish continuation trend. Therefore, advisable to look for any bullish continuation trend later once corrective wave b is completed. Please look for any sign of wave b completion from BSTS later. Good luck.
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Click to Enlarge Name: gj1hb.gif Size: 56 KB
  • #14,840
  • Feb 11, 2009 10:24am Feb 11, 2009 10:24am
I grabbed a small long here. Not sure where it's going, I have a TP in at 133, but once it gets around 130 Ill put in a break even + 20 pips or so SL, and then 131 I'll move it up, etc.
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