Auslanco - GBP/JPY and GBP/USD (newstrade)

It is 2 more hours for candle to close, but anyway I'm not putting much of bullishness on that fact...
Again, just a nice opporunity to range for a while being stuck between Daily Ghilo and let's say 4hr, preparing for the break

how are you piters..just want to say

Bravo Piters, I hope you bet all your money on this

Another crazy day .. better short GU than Geppy atm

I'll try some short GBPUSD from here

You should buy right now (151,80), in the next 3 hours it is going to go to 154,80

Any explanation on why you think that?

you are UP.. too early mate !!

emmm...OK, how much should I buy? Only joking, do you have an analysis/charts? Cheers

just a neckline retest we should continue to fall probably next week.

I wouldnt think of taking any major longs whilst the daily Gann and QQE are down.

The odd Long scalp/scout here and there is just enough this week...this baby could collapse at any time. Today is just whipsaw, tomorrow or Monday will see the resumption of frantic selling.

Cheers anyway to those traders who drove price backup, excellent opportunity to ride the wave yet again! (and Sell Oil, Gold, Silver, GBP across the board, AUS/USD, NZD/USD, US/JPY and last but not least, EUR/JPY)

Good night buddies, i was safe from my long today just got back and met some green Hallelujah ..
Good night c ya asia, europe and usa..

Pay Attention:
I am going to walk you through the monthly chart for gbp/jpy (Geppy).
I will explain where she has been, where she is now, and where she is telling us that she may go in the future.

I will walk you through a simple basic Elliot Wave pattern. This will help you to understand the bigger picture scenario.

I am trying to teach you in weeks what it took me years to understand.

Zoom way out on your monthly Geppy chart. You can look way back to the 1980's and see that Geppy was at a high of 286.10 as denoted by the red trendline way up there.

She began a very long downtrend that lasted 5 years from the high from August of 1990 to the low of 139.56 in March of 1995.

On the way down, she hit the Torquoise colored 61 fib and turned sideways for a long time in a channel. That 61 fib would be considered the end of Wave #1 down. She then broke out to the upside and hit the 76 fib. That 76 fib is the end of wave 2 up.

Wave 3 begins there, and took her down to the red trendline Demand Area, as well as the 23 fib. This is the buy zone if we are to see a global recovery and Risk Tolerant Sentiment. The current price is resolving this support area now. The Market has not yet decided whether we will breakout to the downside or hold as support. This could take some time.


This pair took a long time to resolve this range the last time she was here. She turned sideways in a definite range before breaking out to the downside. Where she made a long term bottom, and a change of trend. This long sideways consolidation is considered wave 4 up. No trend. Range Trade Strategy.

The breakout down would be wave# 5 or a continuation of wave# 3 down, because of its small size. I prefer the 3rd wave theory.

Then she reversed trend and began an ABC correction. This means a= up, b= down, c= up. The "A" up leg was impulsive in 5 waves.

The "B" wave down ended at the red demand zone, made a higher low, and reversed trend.

The "C" wave up was in 5 waves and made a double top formation (the top of the former wave #2) and reversed From 251, then later 215, to a lower low at 118.80.

She has spent the last half year in a corrective move up to the yellow 50% fib area. There is more room to the upside before the final crash to retest the 118 lows.

If the most recent downtrend is still in effect from 215 and the double top at 251, then we may be in wave#4 up currently. Wave #5 down will make a lower low beyond 118.80.

I think the Big Boys will want more money sucked into Equities and Commodities so they can crash it and collect your money. I favor the scenario of a temporary global recovery before the big crash. I am looking at the yellow 50% fib to get short for that one. In the meantime, I am trading Market Sentiment as my leading indicator.

I am considering the downmove from from 215 as wave #3 to simplify things. Wave #4 up is from 118.80 to the 50 fib area somewhere yet to be determined.

The weekly trend is clear. The brown 55 sma is the top of the range, and the green 22 sma is the bottom, until a breakout occurs with a weekly close.

A very humourous post. Please keep it up as many have tried to be funny but are dreadfully bad at humour

The hourly chart is giving us the upside targets in the form of sma resistance. She may need a reload before breaking up to satisfy the correction/consolidation.

I'm long in [email protected]. It looks like an abandoned baby formation (http://www.fxwords.com/b/bullish-pev...ns.html#strong). Any comments?

It surely looks like that formation, but the fact that it occured during correction in bull run, doesn't attract me. This one has to be formed after bearish trend to be fully reliable and so to reverse it. Just the heads up, doesn't necesseraly means it won't go up.Hope I was clear.

Thanks for your comment. I usually take them when it looks like a correction of a trend, but I will backtest your idea