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Daily GBP/JPY analysis

  • #14,841
  • Feb 11, 2009 7:41pm Feb 11, 2009 7:41pm
Quoting forextine
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.
Closed a while ago, where's it going to drop to Jeb!
  • #14,842
  • Feb 11, 2009 8:13pm Feb 11, 2009 8:13pm
At this moment, I'm waiting for a breakout towards the yellow triangle trendlines to determine which alt counts is more preferable. Favourably, I'm looking forward for a bullish retracement to perform subwave iv referring to the alt count in yellow. But, please be careful for any bearish continuation trend to complete subwave iii extension in white. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 56 KB
  • #14,843
  • Feb 12, 2009 8:46am Feb 12, 2009 8:46am
Due to the breakout to the lower yellow triangle trendline, therefore I did a recount towards the alt count in magenta and yellow. Preferably, I believed market in progress to complete corrective wave b either in yellow or white. At this moment, I'm looking forward for a bullish retracement trend to perform subwave iv in yellow before expecting for another bearish continuation to complete subwave v in b (yellow). But please be careful for another bearish continuation trend to perform an extension subwave iii referring to the alt count in white. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 55 KB
  • #14,844
  • Feb 12, 2009 10:26am Feb 12, 2009 10:26am
I'm dissapointed Jeb, I was short near the top, and instead of keeping my TP at 127.5 and walking away, I sat here and watched, and sold as soon as it turned profitable. I closed at 129, how sad. I need to be patient, I knew the move down was coming.
  • #14,845
  • Feb 12, 2009 8:23pm Feb 12, 2009 8:23pm
Quoting forextine
I'm dissapointed Jeb, I was short near the top, and instead of keeping my TP at 127.5 and walking away, I sat here and watched, and sold as soon as it turned profitable. I closed at 129, how sad. I need to be patient, I knew the move down was coming.
Don't said like that bro. At least u r in profit. There is always another opportunities in forex.

At this moment, basically I can divided market in 2 possible scenario :

1) Magenta Count - Corrective wave b is already completed and market in progress to perform corrective wave c in 5 bullish wave structures. . A valid an inverted head and shoulder and a further breakout to the upper green trendline would bolster this scenario.

2) Yellow Count - Market in progress to perform wave iv before expecting for another bearish continuation to complete wave v in b either a truncated or an impulsive wave (white). A pullback from the upper green trendline and a breakout to the bearish continuation critical line 1 would bolster this scenario.

Therefore, please confirm either scenario from BSTS and any breakout later. Happy weekends and good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 55 KB
  • #14,846
  • Feb 13, 2009 11:18am Feb 13, 2009 11:18am
Hit the 61.8 fib and came down, dow is falling and GJ is going up, I hate when this occurs.



Quoting Jebatfx
Don't said like that bro. At least u r in profit. There is always another opportunities in forex.

At this moment, basically I can divided market in 2 possible scenario :

1) Magenta Count - Corrective wave b is already completed and market in progress to perform corrective wave c in 5 bullish wave structures. . A valid an inverted head and shoulder and a further breakout to the upper green trendline would bolster this scenario.

2) Yellow Count - Market in progress to perform wave iv before expecting for another bearish continuation to complete...
  • #14,847
  • Feb 14, 2009 6:56pm Feb 14, 2009 6:56pm
Well Jeb, looking at the 4hr chart, I see what we're going through now looks very similar to what happened in mid January.

Tell me what you think.

The letters don't mean anything except to show where they match up.

Attached Image (click to enlarge)
Click to Enlarge Name: gj-1.jpg Size: 418 KB
  • #14,848
  • Feb 15, 2009 8:27pm Feb 15, 2009 8:27pm
Forextine, i am with you, just waiting GJ hit 128.5 until 02/18.

Lets Go!!!
  • #14,849
  • Feb 15, 2009 8:29pm Feb 15, 2009 8:29pm
Quoting GoldenSpur
Forextine, i am with you, just waiting GJ hit 128.5 until 02/18.

Lets Go!!!
It's showing so much strength at 130, really ticking me off haha.
  • #14,850
  • Feb 15, 2009 9:21pm Feb 15, 2009 9:21pm
At this moment, I believed market in progress either to perform wave 2 in magenta or subwave v in b (yellow or white) before expecting a bullish continuation trend to complete corrective wave c. Please look for any breakout towards the teal triangle to determine which alt counts is more favourable later, Advisable to look for any possible bullish continuation trend from BSTS later within this week. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 57 KB
  • #14,851
  • Feb 15, 2009 9:28pm Feb 15, 2009 9:28pm
Quoting Jebatfx
At this moment, I believed market in progress either to perform wave 2 in magenta or subwave v in b (yellow or white) before expecting a bullish continuation trend to complete corrective wave c. Please look for any breakout towards the teal triangle to determine which alt counts is more favourable later, Advisable to look for any possible bullish continuation trend from BSTS later within this week. Good luck.
What does BSTS stand for?
  • #14,852
  • Feb 16, 2009 8:20pm Feb 16, 2009 8:20pm
At this moment price still inside the teal triangle. Therefore, please watch closely both upper and lower trendlines for any breakout or bounce/pullback scenario. Preferably, I'm looking forward for an opportunity towards a bullish continuation trend later once either subwave 2 (magenta) or corrective wave b (yellow or white) is completed. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 56 KB
  • #14,853
  • Feb 17, 2009 8:35pm Feb 17, 2009 8:35pm
At this moment, price already touched and pullback from the upper green trendline. Price have to further break to the upside to bolster the bullish continuation trend scenario referring to the alt count in magenta. Otherwise we may see a bearish retracement trend to complete corrective wave b either in yellow or magenta. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 56 KB
  • #14,854
  • Feb 18, 2009 10:58am Feb 18, 2009 10:58am
Please be noted there is possibility that the market in progress to perform a complex horizontal triangle corrective wave iv referring to the alt count either in yellow or white. As long the yellow/white critical lines is remain intact, this scenario would still valid. Otherwise a further breakout to the yellow/white critical lines would bolster towards the alt count in magenta. Favourably, I'm looking forward for any possibility towards the alt counts either in yellow or white. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 56 KB
  • #14,855
  • Feb 18, 2009 10:06pm Feb 18, 2009 10:06pm
At this moment, I'm looking forward for a "double top" scenario to bolster towards the alt counts either in yellow or white. But, please be noted that a further breakout to the cyan dan yellow/white critical line would bolster towards the alt count in magenta. Therefore, please confirm either trends from BSTS later. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 57 KB
  • #14,856
  • Feb 18, 2009 11:16pm Feb 18, 2009 11:16pm
took short@ 133.306 sl@ 133.800 & tp@ 132.600
Good luck
Thank You
  • #14,857
  • Feb 19, 2009 11:45am Feb 19, 2009 11:45am
Please be noted that due to the breakout towards the previous yellow/critical lines, therefore I need to recount for latest possible alt counts. Please analyse latest alt counts and unless there is a strong bullish continuation trend later, then I believed we shall see a bearish retracement trend to perform wave 2 in yellow. Otherwise we may see a further bullish continuation trend either to complete wave 3 in magenta or wave 1 in white. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 55 KB
  • #14,858
  • Feb 19, 2009 9:10pm Feb 19, 2009 9:10pm
Due to the latest market situation, I divided market into 3 possible scenario which is :

1) Magenta - market is progress to perform subwave ii in 3 before expecting for another bullish continuation to complete subwave iii in 3.
2) Yellow - market in progress to perform wave 2 (lower trendline) before expecting for another bullish continuation to complete wave 3 in C.
3) White - market in progress to perform wave 2 before expecting for another bullish continuation to complete wave 3 in c.

Advisable to look for any bullish continuation entry signal later from BSTS. Happy weekends and good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 56 KB
  • #14,859
  • Feb 19, 2009 9:50pm Feb 19, 2009 9:50pm
Hi,

I have position buy on 135, which was done using an indicator that should not be applied on G/J, My bad.

Just to ask advice either to cut loss, headging, or just let it bounce back. No critical margin at stake..If to let it run, what would be the ideal S/L.

Thanks jebat.
Trade what you see. Write what you feel
  • #14,860
  • Feb 22, 2009 6:19pm Feb 22, 2009 6:19pm
i am short at 134.20, sl 134.9, tp 133.2
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