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Daily GBP/JPY analysis

  • #15,141
  • Oct 11, 2009 11:37pm Oct 11, 2009 11:37pm
At this moment, I'm looking forward market to perform another bearish continuation trend refering to the alt count in yellow. Otherwise, if the upper green trendline is taken, then perhaps market is already in progress to perform subcorrective wave a in magenta. Good luck.
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  • #15,142
  • Oct 12, 2009 10:30pm Oct 12, 2009 10:30pm
At this moment, market already pullback again from the upper yellow trendline. A further breakout towards the lower yellow trend would bolster to the bearish continuation trend scenario refering either to the alt counts in white or yellow. Otherwise, please be careful for any strong breakout towards the upper yellow trendline that would bolster to the alt count in magenta. Good lucks.
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  • #15,143
  • Oct 13, 2009 3:18am Oct 13, 2009 3:18am
Thanks Jebatfx for ypur analysis. I must say that you have been doing a great job. Keep it up!

I see GBP/JPY getting to 142.6x region as today's high then we can have a bearish continuation until we hit 140.4x region. It is note worthy to state here that there exists a strondg confluence of events at 140.4x and this seems like a support which 'must' be tested before we can think of any proper up move on this pair.

Happy trading!
  • #15,144
  • Oct 13, 2009 7:22am Oct 13, 2009 7:22am
I think that I'm standing in the wrong direction. Or not?
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{Promotion Removed}
  • #15,145
  • Oct 13, 2009 8:55am Oct 13, 2009 8:55am
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  • #15,146
  • Oct 13, 2009 12:16pm Oct 13, 2009 12:16pm
will It Come Back Up ?
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  • #15,147
  • Oct 13, 2009 10:30pm Oct 13, 2009 10:30pm
At this moment, I'm waiting for a breakout from the teal triangle to determine which alt counts that is more favourable. Preferably, I'm looking forward market to perform another bearish continuation trend scenario either refering to the alt count in white or yellow. Otherwise, if the yellow/white critical line is taken, then I believed market in progress the perform a major wave 2 in magenta. Good luck
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  • #15,148
  • Oct 14, 2009 6:18am Oct 14, 2009 6:18am
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  • #15,149
  • Oct 15, 2009 12:14am Oct 15, 2009 12:14am
Chart 1H - At this moment, I'm looking forward for any possibility towards a pullback scenario from the major upper green trendline to bolster the bearish continuation trend scenario. Please be extra careful since at the moment, its not very clear which alt counts that is more favourable even though I believed market will perform another strong bearish continuation trend scenario. Therefore, please be careful for any possibility towards a strong bullish retracement trend either refering to the alt count in white or magenta.

Chart Daily - Preferably, I believed market will perform another major bearish continuation trend scenario either refering to the alt counts in yellow, white or magenta. Just be careful for any possibility towards a strong bullish retracement trend (magenta) or a truncated major wave 5 (yellow).

(Gbp vs Usd - Daily) At this moment, I'm looking forward for another bearish continuation trend scenario refering to the alt count in aqua/yellow. But please be careful for any possibility towards a strong bullish retracement trend to complete the unfinish corrective wave b in magenta. Good luck.
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  • #15,150
  • Oct 15, 2009 9:51am Oct 15, 2009 9:51am
GBP/JPY begining Down Trend , Target : 139 and 130.50
  • #15,151
  • Oct 15, 2009 10:24am Oct 15, 2009 10:24am
Quoting freeman2008
GBP/JPY begining Down Trend , Target : 139 and 130.50
Welcome back freeman2008. On 25th September you told us this was going up to 149.
Now you say it's going to fall to 139 and 130. Could you give any reasons or a chart, please?
Gone to a better place
  • #15,152
  • Edited 11:01am Oct 15, 2009 10:45am | Edited 11:01am
Quoting smikester
Welcome back freeman2008. On 25th September you told us this was going up to 149.
Now you say it's going to fall to 139 and 130. Could you give any reasons or a chart, please?
ok My dear.

1- Finsh Pullback of Double Top and bigining Down trend to 130.50 .

That 130.50 target of DoubleTop.( Picture )

It may go up to 149 or 151.30 . But ...

But Down trend is Ensure.
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  • #15,153
  • Oct 15, 2009 12:03pm Oct 15, 2009 12:03pm
Quoting freeman2008
ok My dear.


Now that's a lot better than a lame post. We have standards on this thread. (Didn't used to) You wouldn't want me to feel better about myself would you? I like the chart. I agree with you, too...
Gone to a better place
  • #15,154
  • Oct 15, 2009 12:21pm Oct 15, 2009 12:21pm
Thank you
  • #15,155
  • Oct 15, 2009 12:26pm Oct 15, 2009 12:26pm
Quoting freeman2008
Thank you
is this means 147.50 for today...then will going short? or still can go up possible?
  • #15,156
  • Oct 15, 2009 12:43pm Oct 15, 2009 12:43pm
Quoting special0nefx
is this means 147.50 for today...then will going short? or still can go up possible?
I can predict that , Tonight the weakening trend is increasing.

OR ,Tonight may be time to have a stable state.



and Reduction process starts tomorrow.
  • #15,157
  • Oct 15, 2009 12:53pm Oct 15, 2009 12:53pm
Quoting freeman2008
I can predict that , Tonight the weakening trend is increasing.

OR ,Tonight may be time to have a stable state.



and Reduction process starts tomorrow.
today high is 147.50. It seem can break this price only coming down cos it look strong ranging around 147.20~ 147.40 ...but for now i see will retrace down around 146.50 before heading up again to 148
  • #15,158
  • Oct 15, 2009 1:52pm Oct 15, 2009 1:52pm
Quoting freeman2008

It may go up to 149 or 151.30 . But ...
Yes don't take the trade on our recommendation it could still go up. Anything could happen. Just look at jebatfx. His posts are interesting, informed and usually make sense if you concentrate. Yet he tries to cover all possibilities. (Don't you jebatfx?)

This is where the skill of trading comes in. The "Oh yes, this is what I planned for and it's working out quite well" or the "Shit, it's doing the opposite of what we said - get out quick!"
Gone to a better place
  • #15,159
  • Oct 15, 2009 11:05pm Oct 15, 2009 11:05pm
Quoting smikester
Yes don't take the trade on our recommendation it could still go up. Anything could happen. Just look at jebatfx. His posts are interesting, informed and usually make sense if you concentrate. Yet he tries to cover all possibilities. (Don't you jebatfx?)

This is where the skill of trading comes in. The "Oh yes, this is what I planned for and it's working out quite well" or the "Shit, it's doing the opposite of what we said - get out quick!"
You're right. I'm glad u understand. Happy trading.

---------------------------------------------------------------

Due to the strong bullish trend, please be noted that the alt count in yellow is already invalid. Preferably, I believed market just in progress to perform a major wave 2 before expecting for another bearish continuation trend scenario either in white or magenta. Good luck and happy weekends.
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  • #15,160
  • Edited 4:50am Oct 16, 2009 4:32am | Edited 4:50am
I agree with this analysis.
However, I believe I still have loss of about 149.20 to start.
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