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

  • #194,941
  • Sep 6, 2009 9:41pm Sep 6, 2009 9:41pm
Quoting pkimnyc
we've already seen reversal pattern from last week.
whether it's reversal or retracement of the down move is not yet known, at least not in my knowledge.
in higher TF? i don't think so.. if you are talking about reversal pattern in 15m chart and say that this will go to 160.. i don't think it sounds right..
  • #194,942
  • Sep 6, 2009 9:42pm Sep 6, 2009 9:42pm
Quoting A-speculator
in higher TF? i don't think so.. if you are talking about reversal pattern in 15m chart and say that this will go to 160.. i don't think it sounds right..
daily and 1 hr chart.
  • #194,943
  • Sep 6, 2009 9:45pm Sep 6, 2009 9:45pm
Quoting pkimnyc
daily and 1 hr chart.
daily? please explain.. I still see it's in a downward channel, or maybe a bull flag, but not yet broken..
  • #194,944
  • Sep 6, 2009 9:47pm Sep 6, 2009 9:47pm
Quoting A-speculator
If I'm not mistaken, wave 5 normally will be in a wedge form, right? I don't think you can count that consolidation pattern like that as wave 5. Based on your fibo, what is the price for 261 fibo? if you don't mind me asking..
wedge form ? i guess you are talking about Ending Diagnol or Leading Diagnol which they usually look like a wedge

this wave 5 is Ending Diagnol i know its hard to notice but you need to zoom in in small frames to see if its doing the waves

problem i dont have my books to show you examples because i am traveling but i found one small book in my laptop it show example of the Ending Diagnol wave

there is NO WAY wave 5 will be longer than WAVE 3 in our situation. Wave 3 was 680 pips

so WAVE 5 should be less than that. so it hit 149 which is around 400 pips length and thats super fine

and about Fibo i didn't get you from where you want me to use Fibo ? or your asking if i am watching any fibo level which is no

i only watch fibo while retracing so i can estimate when the wave will end or to estimate a target of the big waves
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  • #194,945
  • Sep 6, 2009 9:50pm Sep 6, 2009 9:50pm
Quoting A-speculator
well, if this really wanna go up, I think at least we gonna see double bottom here.. or some sort of reversal pattern..
you shouldn't only look at GJ

some times the pattern form in UJ or GU and make GJ go up suddenly without a pattern
  • #194,946
  • Sep 6, 2009 9:51pm Sep 6, 2009 9:51pm
Quoting A-speculator
daily? please explain.. I still see it's in a downward channel, or maybe a bull flag, but not yet broken..
i have 1hr and 4hr down channels broken to upside.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #194,947
  • Sep 6, 2009 9:53pm Sep 6, 2009 9:53pm
Quoting A-speculator
in higher TF? i don't think so.. if you are talking about reversal pattern in 15m chart and say that this will go to 160.. i don't think it sounds right..
daily and 4h chart

in GU and GJ both have huge falling wedge you should look at the big picture not only small frames

put 4h chart in GU and u will see inverted H&S this mean GJ up
  • #194,948
  • Sep 6, 2009 9:55pm Sep 6, 2009 9:55pm
Quoting msniper
wedge form ? i guess you are talking about Ending Diagnol or Leading Diagnol which they usually look like a wedge

this wave 5 is Ending Diagnol i know its hard to notice but you need to zoom in in small frames to see if its doing the waves

problem i dont have my books to show you examples because i am traveling but i found one small book in my laptop it show example of the Ending Diagnol wave

there is NO WAY wave 5 will be longer than WAVE 3 in our situation. Wave 3 was 680 pips

so WAVE 5 should be less than that. so it hit 149 which is...
well i call that wedge.. it doesn't matter what u call it, it is the same thing. Normally, in EW the wave can stretch to 161% or 261% fibo depending on how and where you start calculate the wave. From your wave, I can see that you count the major wave but the fibo that you use is based on minor wave.. Nevermind that.. anyway, if you don't mind, what is the price based on the fibo level you posted earlier (based on your counting) @ 261% fibo?
  • #194,949
  • Sep 6, 2009 9:57pm Sep 6, 2009 9:57pm
Quoting msniper
daily and 4h chart

in GU and GJ both have huge falling wedge you should look at the big picture not only small frames

put 4h chart in GU and u will see inverted H&S this mean GJ up
its more like corection pattern with expanding triangle, trend continuation pattern
trend is down
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  • #194,950
  • Sep 6, 2009 10:00pm Sep 6, 2009 10:00pm
Quoting msniper
daily and 4h chart

in GU and GJ both have huge falling wedge you should look at the big picture not only small frames

put 4h chart in GU and u will see inverted H&S this mean GJ up
I am using 4h, you can say sort of double bottom in 4h but daily show a diff story, furthermore currently pound show weakness in GU, EG, GBPCHF.. I don't think the uptrend will sustain.. not this wave.. just my 2 cents..
  • #194,951
  • Sep 6, 2009 10:03pm Sep 6, 2009 10:03pm
Quoting A-speculator
daily? please explain.. I still see it's in a downward channel, or maybe a bull flag, but not yet broken..
here. sorry for posting ew mumbo jumbo bs.
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  • #194,952
  • Sep 6, 2009 10:14pm Sep 6, 2009 10:14pm
Quoting A-speculator
well i call that wedge.. it doesn't matter what u call it, it is the same thing. Normally, in EW the wave can stretch to 161% or 261% fibo depending on how and where you start calculate the wave. From your wave, I can see that you count the major wave but the fibo that you use is based on minor wave.. Nevermind that.. anyway, if you don't mind, what is the price based on the fibo level you posted earlier (based on your counting) @ 261% fibo?
261% from that chart is 141.57
  • #194,953
  • Sep 6, 2009 10:15pm Sep 6, 2009 10:15pm
http://i27.tinypic.com/105wn00.jpg
  • #194,954
  • Sep 6, 2009 10:16pm Sep 6, 2009 10:16pm
pipsqueak 163 , i have even seen 180

this is a bear flag at the moment simple as that... price moving up under low volume

61.8 retrace is max this move will go if flag is to be maintained and in fact this is a correction

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  • #194,955
  • Sep 6, 2009 10:17pm Sep 6, 2009 10:17pm
Quoting A-speculator
Personally I have the same opinion as you based on weekly.. Just wanna hear comments other than our opinion. Looking at weekly, I can see weakness in acceleration and momentum and monthly starting to show weakness in acceleration. I am with you with the DT.. No doubt about it. Just wanna hear something different.
  • #194,956
  • Sep 6, 2009 10:18pm Sep 6, 2009 10:18pm
Quoting pkimnyc
here. sorry for posting ew mumbo jumbo bs.
almost equal to my EW count

but my advice for you to start counting 12345 only forget the ABC because from 163 to 149 it was ABC style

now we should start 12345 up of course inside each number we have small 12345
  • #194,957
  • Sep 6, 2009 10:18pm Sep 6, 2009 10:18pm
Quoting msniper
261% from that chart is 141.57
is that so? now your 261% = ~50% of 118 - 163.. Isn't that awesome?

Thank you, bro..
  • #194,958
  • Sep 6, 2009 10:20pm Sep 6, 2009 10:20pm
Quoting A-speculator
is that so? now your 261% = ~50% of 118 - 163.. Isn't that awesome?

Thank you, bro..
u welcome bro
  • #194,959
  • Sep 6, 2009 10:20pm Sep 6, 2009 10:20pm
MS

the only ting that stops a trend is exhaustion or a climax, We definately didnt see a selling climax yet and pretty sure they didnt exhaust supply, they only been buying since Jan, your conviction is outstanding though, if a string is too tight it breaks, too lose it wont play. Being die hard rigid especially with Elliot Wave the most subjective strategy in the markets maybe a learning curve, hope not. But when the wind blows you better bend or u will break period. GL and be wise
"Millionaires don't use astrology, billionaires do"
  • #194,960
  • Sep 6, 2009 10:22pm Sep 6, 2009 10:22pm
Quoting msniper
almost equal to my EW count

but my advice for you to start counting 12345 only forget the ABC because from 163 to 149 it was ABC style

now we should start 12345 up of course inside each number we have small 12345
if cable agrees then i will.
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