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

  • #235,021
  • Apr 8, 2011 9:52am Apr 8, 2011 9:52am
Quoting B737Pilot
GJ
I see..too many no demand bars on GJ & EJ..market fail to make new highs..meaning nobody is interested in higher prices for now..& way too long for a simple retracement/correction..lot of weakness..we'll probably head down now till UK close + lot of long traders will close their positions..And a market who stop rising will eventually fall..just mathematics..
Also..we are already 100 pips above the open line so..kind of a lot for a Friday.
Last thing ..we don't have enough vol to push it higher and it takes double strengh for an up move..thats...
nice analysis. going back to work. lol
  • #235,022
  • Apr 8, 2011 9:53am Apr 8, 2011 9:53am
This is way too slow for me...cannot stand the pressure anymore....what was the story again?? Who won the race...lol
  • #235,023
  • Apr 8, 2011 9:55am Apr 8, 2011 9:55am
oh..somebody..
yes..the only thing I see for today..is myself having a beer by the beach..join me...


Quoting pkimnyc
nice analysis. going back to work. lol
  • #235,024
  • Apr 8, 2011 9:58am Apr 8, 2011 9:58am
Quoting B737Pilot
oh..somebody..
yes..the only thing I see for today..is myself having a beer by the beach..join me...
lol. soon...
  • #235,025
  • Apr 8, 2011 10:00am Apr 8, 2011 10:00am
wow ..that was just a 3 minutes comment..ok ..we go DOWN
  • #235,026
  • Apr 8, 2011 10:04am Apr 8, 2011 10:04am
you know..honestly..this slow thing ..I almost took it personaly..too much slowing down..I might fall from the sky..like a ROC...lol

Quoting pkimnyc
lol. soon...
  • #235,027
  • Apr 8, 2011 10:07am Apr 8, 2011 10:07am
Quoting B737Pilot
you know..honestly..this slow thing ..I almost took it personaly..too much slowing down..I might fall from the sky..like a ROC...lol
lol. have a good weekend.
  • #235,028
  • Apr 8, 2011 10:10am Apr 8, 2011 10:10am
we might reverse from here..this the H1 MA50 @ 139.16..
Waiting for PA to be South of it..
  • #235,029
  • Apr 8, 2011 10:11am Apr 8, 2011 10:11am
same to you..Enjoy!!
Quoting pkimnyc
lol. have a good weekend.
  • #235,030
  • Apr 8, 2011 10:31am Apr 8, 2011 10:31am
I don't like it..PA too much hesitation..nothing left on the table...big money probably gone already...and range for the day already 152...I'm off...
Don't forget the old saying..no trading on Friday afternoon..you will lose the entire profit of the week.
Good weekend everyone!
  • #235,031
  • Apr 8, 2011 10:58am Apr 8, 2011 10:58am
Quoting Beljevina
... it used to spend days and weeks making multiple attempts & bounces around the upper 139 area. Still some chance 139.86 will hold, but a close above 140 is definite bull territory & a sign for more; ...
I'm glad there's some semblance of reasonableness in the market; the upper 139's did their job as did the rejection in GU above 1.64 - it's simply too early to head there with a pound that doesn't deserve it. I'd expect a lower trace down, and then for the we're-raising-rates effect to take hold at some point in the next few weeks. Traded just a smallish bit - the bounce from the whole #'s or the .1's and .9's in the beast are an almost sure-fire way to make money - that and wide stop losses.
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-04-08_115815.png Size: 23 KB
  • #235,032
  • Apr 8, 2011 7:56pm Apr 8, 2011 7:56pm
Quoting B737Pilot
Getting impatient I see.. you didn't read above?..they said we need to S L O W down...!
Looong discussion this afternoon while dragon was having a nap..
whatever, lets see passenger

but to all ew guys is there a way i can see the move from 122 to present as wave one and clear previous waves from these last years on the htf fibs tell the story from the 210 level or there abouts for 160 area but any help to paint the picture with my basic understanding on ew would be appreciated

safe trading
  • #235,033
  • Edited 8:59pm Apr 8, 2011 8:47pm | Edited 8:59pm
Quoting cohiba pips
whatever, lets see passenger

but to all ew guys is there a way i can see the move from 122 to present as wave one and clear previous waves from these last years on the htf fibs tell the story from the 210 level or there abouts for 160 area but any help to paint the picture with my basic understanding on ew would be appreciated

safe trading

Wave 1, be it a major or minor wave contains 4 subwaves (although they're damned hard to see on on most timeframes below 1 hour).

At this time, on the 4 hr or 1hr we are either still in wave 3 or completing wave 5. On the daily and weekly I can see three waves (with maybe wave 3 completing).

I put the 121 bottom as a truncated (failed) major wave 5, and as a consequence the monthly is, I suspect, in major corrective wave A (to complete one day at the top of wave 4, being around 164) with B to complete somewhere in the low to mid 130s and C to complete much much much higher. (in the distant future)

Wave A can have either 3 or 5 subwaves and we're only seeing 1 of them so far.

Hope this makes sense.
  • #235,034
  • Apr 8, 2011 9:10pm Apr 8, 2011 9:10pm
Quoting Mpt
Wave 1, be it a major or minor wave contains 4 subwaves (although they're damned hard to see on on most timeframes below 1 hour).

At this time, on the 4 hr or 1hr we are either still in wave 3 or completing wave 5. On the daily and weekly I can see three waves (with maybe wave 3 completing).

I put the 121 bottom as a truncated (failed) major wave 5, and as a consequence the monthly is, I suspect, in major corrective wave A (to complete one day at the top of wave 4, being around 164) with B to complete somewhere in the low to mid 130s and...
would like to see your count in actual chart. i would appreciate that. in exchange, i will also post mine over the weekend. thanks in advance.

just to sum up, i'm not sure about the decline from 163 truncated 5th though. the sub structures have all the characteristics of B wave rather than truncated 5th. the rise from 119 to 163 as A wave, fall from 163 to 122 as B wave, and we have already started C wave from my chart.
  • #235,035
  • Apr 8, 2011 9:50pm Apr 8, 2011 9:50pm
Quoting pkimnyc
would like to see your count in actual chart. i would appreciate that. in exchange, i will also post mine over the weekend. thanks in advance.

just to sum up, i'm not sure about the decline from 163 truncated 5th though. the sub structures have all the characteristics of B wave rather than truncated 5th. the rise from 119 to 163 as A wave, fall from 163 to 122 as B wave, and we have already started C wave from my chart.
yeah, I'll do that tomorrow. its saturday pm here now. If you take the fall from 241 to 118 as a wave 3 (it certainly had the momentum of a wave 3), then the "bounce from 118 to 163 was a wave 4. Don't forget that wave 4 will usually retrace to between the 38 and 50 fib levels and that move up fitted that requirement and, in addition, the AO display retraced to zero (another indication of end of 4). And wave 5's don't always complete to 100 or an extension.

A wave A will usually retrace to the start of a wave 4 (163 in this case).

The only really confusing thing here is that in (my) wave 5, it was impossible to count the subwaves as it dragged on for so long in a diagonal.

Back tomorrow
  • #235,036
  • Apr 9, 2011 4:28am Apr 9, 2011 4:28am
M15 Chart set up for next week
Attached Image (click to enlarge)
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  • #235,037
  • Apr 9, 2011 5:10am Apr 9, 2011 5:10am
EU - was a very beautiful swing call
http://www.forexfactory.com/showpost...stcount=234327
http://vip.ae/euwkly.gif
http://www.forexfactory.com/attachme...8&d=1299534545
http://www.forexfactory.com/attachme...1&d=1299356694
  • #235,038
  • Edited 5:35am Apr 9, 2011 5:23am | Edited 5:35am
Quoting Mpt
yeah, I'll do that tomorrow. its saturday pm here now. If you take the fall from 241 to 118 as a wave 3 (it certainly had the momentum of a wave 3), then the "bounce from 118 to 163 was a wave 4. Don't forget that wave 4 will usually retrace to between the 38 and 50 fib levels and that move up fitted that requirement and, in addition, the AO display retraced to zero (another indication of end of 4). And wave 5's don't always complete to 100 or an extension.

wave A will usually retrace to the start of a wave...
In order to have fifth wave failed....The following scenario should happen.

If Wave 4 has exceed >50% of Wave 3, the possibility of a 5thwave failure is increased.
PRICE
W.5 = 62% 100% 162% W.1
If W.3 extended W.5= 62% or 38% of W. 0-3
W.5=127%, 162%, 200%, 262% W.4



In case of g/j if wave#4 was 38.2% or 50% of wave 3 then wave#5 should had gone down below 118xx and it did not happen.. yet!!

So fifth wave failure is out of question in my opinion...if it was even fifth wave....

I have 2 price level in mind.

1. 148.90

2. 157.97
Above that it is C wave

In between these levels we are still in penant or box range of WAVE#4.. Since wave#2 Was an ABC on daily/ WEEKLY chart.

RULE IS IF WAVE#2 is an ABC then wave#4 WILL BE MORE COMPLEX( double zig-zag or tripple zig-zag ....Hence form a penant)

By the way what was the recent LOW ..My broker showing 123.08....some have mentioned 122?
Markets are not Random, they are designed!
  • #235,039
  • Apr 9, 2011 5:27am Apr 9, 2011 5:27am
By the way Congratulation DONFRIDAY for banning GUCCI.

...
Markets are not Random, they are designed!
  • #235,040
  • Apr 9, 2011 5:32am Apr 9, 2011 5:32am
[quote=maanawi;4533032]EU - was a very beautiful swing call
http://www.forexfactory.com/showpost...stcount=234327

1.4718 is the escape area ....dont short if at 1.4720....

Looks like 1.57 in the cards...lower hard core support @ 1.3660 below that if ever by 10 pips Bull is done...
Markets are not Random, they are designed!
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