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Daily GBP/JPY analysis

  • #15,381
  • May 2, 2010 10:11pm May 2, 2010 10:11pm
Quoting smikester
Thanks jebatfx for keeping this thread alive. I always look out for your analysis. Here is my analysis. It is simple, as usual, and I like it that way.

Below is a perfect example of a megaphone formation which is a relatively rare chart formation with a high reliability rate. That does not mean you can trade it blindly. For experienced traders only.

Attachment



This formation is characterised by higher highs and lower lows - a volatile battle between bulls and bears. At a swing high, this is a bearish formation. It typically...

I ve read this some where: Is this wut also known as "The Wolf Wave"?
Psychology = Nature = Evolving Forex Market rite?
  • #15,382
  • May 3, 2010 9:46pm May 3, 2010 9:46pm
Please be noted that the previous alt count in white is already invalid. For the moment, I'm looking for an opportunity towards a pullback scenario form the R3 and upper green trendline critical line refering to the alt count in aqua. Otherwise, we may see a double top scenario (magenta) or see another strong bullish continuation trend scenario refering to the alt count in yellow. Good luck.
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  • #15,383
  • May 4, 2010 12:26am May 4, 2010 12:26am
Quoting Dr_Cryonic
I ve read this some where: Is this wut also known as "The Wolf Wave"?
It might be. The expanding triangle or megaphone is how I know this formation and it is (obviously) an unstable formation with high break out potential.

Unfortunately I would consider this one invalidated now that it seems to have lost momentum. Ranging is what I would call this now.
Gone to a better place
  • #15,384
  • May 5, 2010 12:33am May 5, 2010 12:33am
At this moment, a breakout towards either the major upper yellow trendline or the major lower red trendline is still yet remain to be seen to determine which alt counts that is more in favour. Therefore, advisable to monitor for any breakouts (true or false) later. Good luck.
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  • #15,385
  • May 5, 2010 10:17pm May 5, 2010 10:17pm
At this moment, market already at the major lower red trendline. Therefore, please be careful for any bounce scenario. Preferably, I'm looking forward for another bearish continuation trend scenario perhaps to perform subwave 3 in c refering to the alt count in white or c in magenta. Otherwise, this scenario would be invalid if the white critical line is taken. Good luck.
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  • #15,386
  • Edited 5:10am May 6, 2010 1:51am | Edited 5:10am
Hello
First post lol
Nice pair,found it about week ago.The price is going down.Do you agree wave E is being drawn righ now?
There was a flag pattern earlier this morning to confirm bearish.
Sry i dont know how to post a picture and my english is not so good.
  • #15,387
  • May 6, 2010 10:53am May 6, 2010 10:53am
Maybe i was right,maybe it was pure luck.
Today result : 237pips
  • #15,388
  • May 6, 2010 11:37am May 6, 2010 11:37am
Congratulations maruchin. I traded the post I made above and it's played out. Like you I am well chuffed. Took some profit and some still in play with stop losses in profit areas. I hate reading posts like this when I've had a bad day.
Gone to a better place
  • #15,389
  • May 6, 2010 10:38pm May 6, 2010 10:38pm
At this moment, I believed market in progress to complete wave 4 either refering to the alt counts in white or magenta. Therefore, as long the magenta/white critical line is remain intact, I'm looking forward for another bearish continuation trend scenario either to complete a truncated wave 5 in white or an impulsive wave 5 in magenta. Have a nice weekends and good luck.
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  • #15,390
  • May 7, 2010 12:57am May 7, 2010 12:57am
Quoting Jebatfx
At this moment, I believed market in progress to complete wave 4 either refering to the alt counts in white or magenta. Therefore, as long the magenta/white critical line is remain intact, I'm looking forward for another bearish continuation trend scenario either to complete a truncated wave 5 in white or an impulsive wave 5 in magenta. Have a nice weekends and good luck.
I just grabbed a quick (10 min or so) 70 pips out of the GBPJPY pair. You defintely know what you are talking about. I would love to learn the way you do your market analysis
  • #15,391
  • May 7, 2010 1:17am May 7, 2010 1:17am
Quoting maruchin
Hello
First post lol
Sry i dont know how to post a picture and my english is not so good.
Your English is fine and we should be flattered you took the trouble to post. Some people who post on these forums have Arabic or Cyrillic or other alphabets which makes it even more amazing. If you want to post a chart go here and practice: http://www.forexfactory.com/showthread.php?t=53366 where you can post and delete or post and leave.
Gone to a better place
  • #15,392
  • May 9, 2010 10:11pm May 9, 2010 10:11pm
Quoting techfan1128
I just grabbed a quick (10 min or so) 70 pips out of the GBPJPY pair. You defintely know what you are talking about. I would love to learn the way you do your market analysis
Try to learn more abt an Elliot Wave Trading Strategy so you could understand much better abt everything that I'm talking about. Happy trading.
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At this moment, I'm looking forward for a "pullback scenario" from the magenta critical line to perform another bearish contiuation trend scenario. Otherwise, we may see another retracement trend scenario perhap to complete the unfinish wave iv in white. Good luck.
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  • #15,393
  • May 11, 2010 9:51pm May 11, 2010 9:51pm
Quoting pjzone
Hi! jebatx where is your daily outlook... reading it every day... best regards
later I will try to update the daily forecast. Happy trading.

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Please be noted that yesterday previous alt count in white is already invalid. Preferably, I'm looking for a bearish continuation scenario refering to the alt counts either in white or magenta. This scenario would be invalid if market perform any breakout towards the magenta/white critical lines. Good luck.
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  • #15,394
  • May 12, 2010 10:58pm May 12, 2010 10:58pm
At this moment, I'm expecting market to perform a pullback from the pivot critical line and looking forward for a breakout towards the red lower trendline. Otherwise, please be careful for any breakout towards the pivot and R3 critical line. Good luck.
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  • #15,395
  • May 13, 2010 9:27pm May 13, 2010 9:27pm
Preferably, I believed market in progress to complete subwave iii in aqua and looking forward for an extension of wave 3 either in white or magenta. A breakout towards the S3 critical line would bolster to this scenario. Please be careful for any bullish retracement trend scenario perhap to perform subwave iv refering to the alt subwave count in aqua. Happy weekends and good luck.
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  • #15,396
  • May 16, 2010 10:14pm May 16, 2010 10:14pm
Good Morning Jebatfx I always look forward to reading your analysis, I've noticed you haven't made a post yet today?
  • #15,397
  • May 16, 2010 10:59pm May 16, 2010 10:59pm
Quoting Colostarr
Good Morning Jebatfx I always look forward to reading your analysis, I've noticed you haven't made a post yet today?
Good morning, sry I'm a bit late today. Tq for reading my analysis. Hereby my analysis for today,

At this moment, I believed market in progress to complete wave 3 either in yellow. white or magenta. Therefore, I'm expecting for any possibility towards a bullish retracement trend scenario later to perform wave 4. Please be noted that we may seem to see an extension of wave 3 in magenta but please be careful for any "double bottom" or a "bear trap" scenario. Good luck.
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  • #15,398
  • May 16, 2010 11:09pm May 16, 2010 11:09pm
I've noticed that there many times you post your analysis with no reply or comment from the users of this forum! Having been a member since 2007, I can honestly say that your comments and analysis are greatly appreciated! Thank you!
  • #15,399
  • May 17, 2010 7:45am May 17, 2010 7:45am
300 pips last week...113 today! Excellent analysis!
  • #15,400
  • May 17, 2010 9:34pm May 17, 2010 9:34pm
At this moment, more likely wave 4 is already completed either refering to the alt counts in yellow or magenta. A breakout towards the pivot critical line would bolster to this scenario. But please be noted also that, we may see another bullish retracement trend scenario to complete the unfinish of wave 4 in white. Also please take note that we may see a truncated of wave 5 scenario refering to the alt counts either in yellow or white. Therefore, a significant movement and breakout is still yet remain to be seen to determine which scenario that is more in favour. Good luck.


p/s welcome from both of u. Make sure u always have a stop loss since I can be wrong at anytime. And adjust your sl to a break even point everytime u r in profit. Happy trading.
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