Daily GBP/JPY analysis

At this moment, I believe market in progress to complete major wave 5 either refering to the alt counts in aqua, white or yellow. Therefore, advisable to look for a potential toward a bearish reversal trend scenario later to perform corrective wave a,b and c. Good luck.

At this moment, I'm looking forward for either a bearish retracement trend scenario to perform subwave iv (aqua or yellow) or a bearish reversal trend scenario to perform subcorrective wave a in white. Please be noted that market have potential to perform a bullish continuation trend scenario either to complete subwave v in aqua (diagonal triangle pattern) or subwave v in yellow before expecting for a reversal. Good luck.

Jebat, i have a question.
Did you ever see the elliot wave theory fail?

A buddy of mine sais that it fails now and then.
But when i watch Robbert Prechters videos he sais clearly it always works.
And when it doesn't your count is wrong.

Thanks.!

Hi, thats why its very important for u to also always think abt other s possibility or I call it as alternative count. Each alt count have their own critical line. And from the few alt counts u made, you try to figure out which one is more bias and u use it as your trading strategy. Then decide which entry structure for u to enter the market. If u base on 1 counting only, definetely very hard. Happy trading.
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At this moment, I believe market have a strong potential to perform a bearish reversal trend refering to the alt count in aqua. A valid "diagonal triangle" pattern and follow by a breakout toward the lower aqua trendline would bolster to this scenario. Otherwise, we may see a bull trap scenario perhap to perform the incomplete of wave 5 in white. Happy weekend and good luck.

reverse from daily trend line and confirmed my breaking out the small uptrend>>>>>down

GBP/JPY Looks Determined to Retest December Highs and 200 SMA

I'm looking to be able to understand Elliott Wave better. Most online resources give only the rudiments, which is not enough to know how to properly construct them. I'd appreciate any books or online resources that people in this thread have actually used to learn how to create waves. Thanks!

At this moment, I believe the bullish trend will end soon and market just completed the "bull trap" pattern either refering to the alt counts in aqua or white. A breakout to the pivot critical line and lower white trendline would bolster to this scenario. Otherwise, the exausted bull market may going up to complete the unfinish of wave 5 in yellow. Good luck.

is it the time to go short ...!?

Not yet...!?

At this moment, I'm looking forward for a potential bearish reversal trend scenario either to complete subcorrective wave a in aqua or corrective wave a in white. A breakout toward the pivot critical line would bolster to this scenario. Otherwise, I believe market may perform a bull trap scenario to complete wave 5 in yellow. Good luck.

At this moment, please be noted that the previous alt counts in aqua and white is already invalid. Preferably, I believe market just performed a "bull trap" scenario either to complete major wave 5 (yellow or aqua) or major wave 3 in white. Therefore, I'm expecting market to perform a bearish trend either a reversal (aqua or yellow) or only a retracement (white). A breakout to the pivot critical line would bolster to this scenario. Please be careful for another bullish trend either to complete subcorrective wave b in aqua/yellow or major wave 5 in white. Good luck.

Short

SL 132

TP 130.20

stop loss at break even

At this moment, I believe market in progress to complete either subcorrective wave a in aqua or yellow; OR motive wave 4 in white. Please be noted that I'm expecting market to perform a bullish continuation trend scenario either to complete subcorrective wave b or motive wave 5 in white. A potential "Head and Shoulder" pattern would bolster to the bearish reversal trend scenario either in aqua or yellow. Good luck.

At this moment, market already performed a strong bullish continuation trend scenario. Preferably, I believe market in progress to complete subcorrective wave b either in aqua or yellow before expecting for a bearish reversal trend scenario to complete subcorrective wave c. A pullback from the R3 critical line and follow by a breakout toward the pivot critical line would bolster to the alt count in aqua scenario. Otherwise, please bear in mind that we may see a "bull trap" scenario to complete a "double top" of subcorrective wave b in yellow or further bullish continuation trend scenario to perform the incomplete of major wave 5 in white. Happy weekend and good luck.

Has anyone heard from the Dukeofdents?

Been some time since i have posted here, who is leading the pack now that Duke has left?

Good trading.

Hey guys!

I have been keeping an eye on this chart for a while now.
We have broken through the descending trend line back from July 2007. Is anyone else taking this trade and for those who aren't, why not? I ask why not because GBP/JPY is not a pair I trade long term and would like to know any large fundamental reason for not going long that I have missed. Thanks


Daily