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GBP/JPY, GBP/USD, and EUR/USD (technical analysis)

  • #61
  • Apr 13, 2011 12:41am Apr 13, 2011 12:41am
We'll see how a TL retest goes (if it really was a trend line)
  • #62
  • Apr 13, 2011 1:05am Apr 13, 2011 1:05am
mate...GJ always like this, playing game with us. But now what I see bullish breakout.

Maybe London will give us clue.

Quoting pkimnyc
not looking too optimistic on the bullish break out at london.
upper tl of the wedge is already violated. if we were to see a reversal north then price should be going down, imo. i'm questioning why we are climbing in slow pace during low volume time... smells like another sell off coming. in any case, leaving rest of the position protected. let's see what happens.
  • #63
  • Apr 13, 2011 1:08am Apr 13, 2011 1:08am
hi PK..

Always looking for your EW count and chart pattern.Good luck and Keep it up.
Gold Expedition Return This Year: -15.9%
  • #64
  • Apr 13, 2011 1:13am Apr 13, 2011 1:13am
Quoting budak baru
hi PK..

Always looking for your EW count and chart pattern.Good luck and Keep it up.
thanks budak, and welcome to the thread.
  • #65
  • Apr 13, 2011 1:14am Apr 13, 2011 1:14am
Price already bounce at demand zone.first target supply cluster at 138.5 area or back to demand cluster zone.
Attached Image (click to enlarge)
Click to Enlarge Name: gj311.png Size: 34 KB
Gold Expedition Return This Year: -15.9%
  • #66
  • Apr 13, 2011 1:18am Apr 13, 2011 1:18am
Quoting PandoraBox
mate...GJ always like this, playing game with us. But now what I see bullish breakout.

Maybe London will give us clue.
bro, what do you have on 133.80 area you've mentioned before?
  • #67
  • Apr 13, 2011 1:21am Apr 13, 2011 1:21am
Looking at this thing from a different perspective, we just completed 3 subwaves to the top (15 minute) coming off the low of 135.7, (that bullish wave being wave 4, subwave 2). It's just possible that we're now heading down to complete subwave 3 of wave 4. Will know shortly.
  • #68
  • Apr 13, 2011 1:22am Apr 13, 2011 1:22am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting Mpt
Looking at this thing from a different perspective, we just completed 3 subwaves (15 minute) coming off the low of 135.7, being wave 4, subwave 2. It's just possible that we're now heading down to complete subwave 3 of 4. Will know shortly.
You might be right, considering it didn't even bother to contend with the 50% Fibonacci. We might see another plummet and retest of the 135.71 low or even lower the 135.17 weekly low.

http://i56.tinypic.com/vfcsc8.gif
  • #69
  • Apr 13, 2011 1:35am Apr 13, 2011 1:35am
Quoting Mpt
Looking at this thing from a different perspective, we just completed 3 subwaves to the top (15 minute) coming off the low of 135.7, (that bullish wave being wave 4, subwave 2). It's just possible that we're now heading down to complete subwave 3 of wave 4. Will know shortly.
i see it. thanks.
  • #70
  • Apr 13, 2011 1:40am Apr 13, 2011 1:40am
Quoting PandoraBox
Agree, bro based on your chart, it show bullish formation or bullish wedge. When the pattern complete, we might see bullish breakout.

until we break 137.50 up i still see a down move into 133.40 maybe
MY OPINION NOT FINANCIAL ADVISE
  • #71
  • Apr 13, 2011 1:44am Apr 13, 2011 1:44am
Quoting pkimnyc
we got a momentum shift. looking forward to see a bullish divergence at london. pink line is lower TL of the wedge (ending diagonal).
if pattern matures as a wedge then initial target should be ar'd 137.50 area (beginning of the pattern).
MY OPINION NOT FINANCIAL ADVISE
  • #72
  • Apr 13, 2011 1:45am Apr 13, 2011 1:45am
Bro, take a look last week movement. GJ bounce at 133.90 ~ 133.80 area before break 135 then spike to 139 ~ 140.

Quoting pkimnyc
bro, what do you have on 133.80 area you've mentioned before?
  • #73
  • Apr 13, 2011 1:46am Apr 13, 2011 1:46am
Quoting donfriday
until we break 137.50 up i still see a down move into 133.40 maybe
possible. but in order to visit 133.40, 137.60 -138 should be tested again, i think. if rejects and 135 gate opens then 133.40 is doable, imo.
  • #74
  • Apr 13, 2011 1:47am Apr 13, 2011 1:47am
Quoting PandoraBox
Bro, take a look last week movement. GJ bounce at 133.90 ~ 133.80 area before break 135 then spike to 139 ~ 140.
got it. thanks bro.
  • #75
  • Apr 13, 2011 1:47am Apr 13, 2011 1:47am
Then we buy on the dip ....if really want to see 133.40, you need to break 135.50.

Quoting donfriday
until we break 137.50 up i still see a down move into 133.40 maybe
  • #76
  • Apr 13, 2011 1:47am Apr 13, 2011 1:47am
Quoting pkimnyc
we will freely discuss technical analysis regarding gbp/jpy, gbp/usd, and eur/usd.
constructive discussions are welcome, but no chest thumping activities, and no trade calls. please be logical as possible about your TA when posting. have fun guys.
When my friend from back in the day opens a fresh page, I will drop in from time to time to share my ideas and post something valuable when my time permits, as I am trading fulltime. All the best mate and looking forward in making lots of pips this year!
  • #77
  • Apr 13, 2011 1:49am Apr 13, 2011 1:49am
Quoting Mpt
Looking at this thing from a different perspective, we just completed 3 subwaves to the top (15 minute) coming off the low of 135.7, (that bullish wave being wave 4, subwave 2). It's just possible that we're now heading down to complete subwave 3 of wave 4. Will know shortly.
nice count btw. bounced right at 38 fib (5 min chart). :thmbsup:
  • #78
  • Apr 13, 2011 1:50am Apr 13, 2011 1:50am
Quoting belekas
When my friend from back in the day opens a fresh page, I will drop in from time to time to share my ideas and post something valuable when my time permits, as I am trading fulltime. All the best mate and looking forward in making lots of pips this year!
you are always welcome here my friend. looking forward to see your posts.
all the best for you too bro, and many pips to you as well.
  • #79
  • Apr 13, 2011 1:52am Apr 13, 2011 1:52am
Quoting pkimnyc
possible. but in order to visit 133.40, 137.60 -138 should be tested again, i think. if rejects and 135 gate opens then 133.40 is doable, imo.
same view here bro
MY OPINION NOT FINANCIAL ADVISE
  • #80
  • Apr 13, 2011 1:56am Apr 13, 2011 1:56am
Quoting PandoraBox
Then we buy on the dip ....if really want to see 133.40, you need to break 135.50.

wait for dip or u wait for me to give u call entry..lol
MY OPINION NOT FINANCIAL ADVISE
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