Have you folks noticed this? (GBP/JPY) | Forex Factory

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Have you folks noticed this? (GBP/JPY)

  • #1
  • First Post: Edited 9:15am Mar 29, 2007 9:13am | Edited 9:15am
Interesting. Just thought you guys might want to see this.
  • #2
  • Mar 29, 2007 9:14am Mar 29, 2007 9:14am
here...
Attached Image
  • #3
  • Mar 29, 2007 9:30am Mar 29, 2007 9:30am
I've posted same chart here:
http://www.forexfactory.com/showpost...postcount=2035
Tra-X
  • #4
  • Mar 29, 2007 9:39am Mar 29, 2007 9:39am
Great chart above and analysis.

I am new here so, what should we wait for?...Ex: If a certain support like 231.00 breaks, would you sell?

thanks!
  • #5
  • Mar 29, 2007 9:42am Mar 29, 2007 9:42am
+ there is elliot finishing its b wave and its near the fib 61.8.

Sorry of the bad quality picture. Actually it hasnt reached 61.8 yet.

http://img337.imageshack.us/my.php?image=wavefp4.jpg
  • #6
  • Mar 29, 2007 9:50am Mar 29, 2007 9:50am
If history repeats itself exactly. Next week should be very interesting.



Hope it does soon. These ranging jitters are getting to me. lol

yezbick
  • #7
  • Mar 29, 2007 10:02am Mar 29, 2007 10:02am
Quoting citsagos
+ there is elliot finishing its b wave and its near the fib 61.8.

Sorry of the bad quality picture. Actually it hasnt reached 61.8 yet.

http://img337.imageshack.us/my.php?image=wavefp4.jpg

Wave B or wave 2 or part of wave 5 up. Choose and decide.
Tra-X
  • #8
  • Mar 29, 2007 10:08am Mar 29, 2007 10:08am
Quoting Traex
Wave B or wave 2 or part of wave 5 up. Choose and decide.
I take my hat off for those who understand elliot wave analysis.
  • #9
  • Mar 29, 2007 10:18am Mar 29, 2007 10:18am
Sorry, Im really new on this but I think it can't be the starting of the wave 3 because the huge support line in 1998. It can't cross it over so easily. It can't be the starting of the 5th wave because it has several resistances before and something similar happened 1998.09.03 also.


Sorry for english.
  • #10
  • Mar 29, 2007 10:31am Mar 29, 2007 10:31am
Quoting AmatPro
I take my hat off for those who understand elliot wave analysis.
I don't understand EW too because I often make mistakes lol. We can only maximize profits and minimize losses to gain the edge.
Tra-X
  • #11
  • Mar 29, 2007 10:42am Mar 29, 2007 10:42am
Quoting citsagos
Sorry, Im really new on this but I think it can't be the starting of the wave 3 because the huge support line in 1998. It can't cross it over so easily. It can't be the starting of the 5th wave because it has several resistances before and something similar happened 1998.09.03 also.


Sorry for english.
I don't get which wave 3 you're talking about. For me we're either still in big wave B up (from 221 low) and we're in subwave 5 of wave C up; or big wave C down has just started and we're in wave 2 up now. Anyway I rarely trade this pair so it's just my rough opinion.
Tra-X
  • #12
  • Mar 29, 2007 11:26am Mar 29, 2007 11:26am
I've only traded this pair since last summer but I was wondering during that 98' dip was it due to technical or fundamental reasons? This is just my thought but I didn't think we would've seen low 220's had it not been for China. thx
  • #13
  • Mar 29, 2007 12:44pm Mar 29, 2007 12:44pm
Take a look at using moving averages as levels of support and resistance. Look at some of the following MAs on the following charts:

Time frames: Weekly, Daily, 4hr, 1hr, 15min
Simple and/or Exponential MAs: 3 year, 365, 200, 100, 50, 30 and 10

It is stunning how reliable these lines react.

I hope this helps
  • #14
  • Mar 29, 2007 1:19pm Mar 29, 2007 1:19pm
the circumstances are different now. I'll just trade my usual method, and see how it goes. I might open up a very small long term position, short the pair.
  • #15
  • Last Post: Mar 30, 2007 7:09pm Mar 30, 2007 7:09pm
I'm waiting for this pair to make a top on the weekly chart, then I'm in. Anywhere under 240 should confirm a nice short.
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