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An Elliot Wave Technical Analysis For GBP Vs JPY

  • #721
  • May 18, 2011 11:20pm May 18, 2011 11:20pm
Quoting Jebatfx
Hi, I will try to update next monday cos I'm a bit busy right now. I have to attend a meeting soon...sry. Happy trading.
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At the moment, I'm looking forward for a potential of bullish reversal trend scenario refering to the alt count in yellow. A breakout to the pivot and R3 critical line would bolster to this scenario. Otherwise, please be careful for any breakout toward the lower red trendline. Good luck.
Thanks Jebat. I appreciate it a lot. Great work on gbp/jpy. U r amazing on EW.
STING
  • #722
  • Edited 6:03pm May 19, 2011 5:32pm | Edited 6:03pm
Gbp vs Jpy (1H) - Preferably, I believe market in progress to perform a bullish reversal trend scenario either refering to the alt counts in yellow or aqua. A valid "falling wedge" pattern would bolster to this scenario. Otherwise, please be careful for any breakout toward the bearish continuation critical line 1.

Gbp vs Usd (Daily) - Favourably, I'm looking forward for a potential of bullish retracement trend scenario either to perform a "Head and Shoulder" pattern in aqua or a "double top" pattern in yellow before expecting toward a potential of bearish reversal trend scenario to complete corrective wave c. Otherwise, please be careful for any breakout toward the bearish continuation critical line 1. Happy weekend and good luck.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 45 KB
Click to Enlarge Name: gu daily.gif Size: 36 KB
  • #723
  • May 22, 2011 5:44pm May 22, 2011 5:44pm
At the moment, I'm looking forward for an opportunity toward a bullish reversal trend scenario refering to the alt count in yellow or aqua. A breakout toward the bullish continuation critical line 1 would bolster to this scenario. Otherwise, please be careful for any breakout toward the pivot critical line and lower red trendline. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 43 KB
  • #724
  • May 23, 2011 5:49pm May 23, 2011 5:49pm
At the moment, I'm looking forward for a potential of bounce scenario from the lower red trendline to perform subwave iii either refering to the alt counts in yellow or aqua scenario. Otherwise, this potential scenario would invalid if market further break the bearish continuation critical line 1 and 2. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 44 KB
  • #725
  • May 24, 2011 4:57pm May 24, 2011 4:57pm
At the moment, market have to break the magenta critical line to bolster toward a potential of bullish reversal scenario either refering to the alt counts in yellow or aqua. Otherwise, please be careful if market falls back and any breakout toward the pivot critical line. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 44 KB
  • #726
  • May 25, 2011 5:29pm May 25, 2011 5:29pm
At the moment, market have to break the upper magenta trendline and R3 critical line to bolster toward the bullish continuation trend scenario to complete subwave iii in yellow. Otherwise, please be extra careful toward a "rising wedge" pattern that would favour for either a bearish retracement trend scenario (aqua or white) or a bearish continuation trend scenario (magenta). Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 43 KB
  • #727
  • May 26, 2011 5:52pm May 26, 2011 5:52pm
Gbp vs Jpy (1H) - At the moment, I'm looking forward for a potential of bullish continuation trend scenario refering to the alt count in aqua. Otherwise, a breakout toward the major lower red trendline would favour toward the alt count in magenta scenario.

Gbp vs Usd (Daily) - Preferably, I believe market in progress to complete corrective wave b either refering to the alt counts in aqua (Head and Shoulder) or in yellow (Double Top) before expecting toward a bearish reversal trend scenario to perform corrective wave c. A potential pullback scenario either from Fibo 50%@61.8% or aqua/yellow critical line is still yet remain to be seen. Happy weekend and good luck.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 44 KB
Click to Enlarge Name: gu daily.gif Size: 36 KB
  • #728
  • May 29, 2011 5:40pm May 29, 2011 5:40pm
Gbp vs Jpy (1H) - At the moment, market have more potential to perform a bearish trend due to the formation of "rising wedge" pattern in magenta. A breakout to the lower magenta trendline would bolster to this scenario. Otherwise, we may see a bullish continuation trend scenario to perform subwave iii either in yellow or aqua.

Gbp vs Usd (Daily) - Preferably, I believe market have a good potential to perform a bearish reversal trend scenario to perform corrective wave c in aqua. A valid "Head and Shoulder" bearish reversal pattern in aqua would bolster to this scenario. Otherwise, please be careful for another bullish rally either to complete a double top of corrective wave b in yellow or the incomplete fo wave 5 in white. Good luck.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 43 KB
Click to Enlarge Name: gu daily.gif Size: 37 KB
  • #729
  • May 30, 2011 6:47pm May 30, 2011 6:47pm
At the moment, market just bounce from the pivot critical line. A strong breakout toward magenta critical line would indicate that market may in progress to perfomr subwave iii either in yellow or aqua. Otherwise, market also have a potential to perform a "pullback" scenario from the upper magenta trendline to perform either corrective wave b in white or wave 5 in magenta. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 43 KB
  • #730
  • Edited 12:21pm May 31, 2011 12:08pm | Edited 12:21pm
Hi Jebat,

I am just curious as to your target of wave 3 at 137.10. How do you determine these targets. Is it with fibs. Normally i would do it with fibs and 3 rd wave could end most probably on 200% of 1st wave and might extend to 261.8% on occasions is what i believe. but your targets are more than that, so on a regular basis, how do you calculate your wave iii targets (if you don't mind me asking) .
Please check this chart. 200% is hit almost to the pip, but i am not sure if 3 is completed after checking your post. Gj went down for the 4th wave but that also does not seem complete. I would like your advise as to your calculations on these.
Thanks in advance :-)
Attached Image (click to enlarge)
Click to Enlarge Name: gj 1 hr.JPG Size: 226 KB
STING
  • #731
  • May 31, 2011 12:09pm May 31, 2011 12:09pm
Thanks a million for providing your analysis on GBP. I appreciate it a lot.
STING
  • #732
  • May 31, 2011 6:14pm May 31, 2011 6:14pm
Quoting stringfx
Hi Jebat,

I am just curious as to your target of wave 3 at 137.10. How do you determine these targets. Is it with fibs. Normally i would do it with fibs and 3 rd wave could end most probably on 200% of 1st wave and might extend to 261.8% on occasions is what i believe. but your targets are more than that, so on a regular basis, how do you calculate your wave iii targets (if you don't mind me asking) .
Please check this chart. 200% is hit almost to the pip, but i am not sure if 3 is completed after checking your post. Gj went down for the 4th wave...
Hi,

U can use Fibo Ext, Fibo Ret, Support/Resistance and Trendlines critical line as reference. All these have potential for completion of any waves. Good luck.
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At the moment, I'm looking forward for a potential of bearish retracement trend scenario either to perform corrective wave b in yellow or white. A breakout to the lower yellow trendline would bolster to this scenario. Otherwise, please be careful for another bullish rally and any breakout to the R3 critical line. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 43 KB
  • #733
  • Jun 1, 2011 7:04pm Jun 1, 2011 7:04pm
At the moment, I believe market shall perform another bearish continuation trend scenario to complete subwave 5 either refering to the alt counts in yellow (truncated), white or aqua before expecting toward any potential of major bullish reversal trend scenario. Otherwise, this scenario would invalid if market further break the magenta critical line. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 45 KB
  • #734
  • Jun 2, 2011 6:10pm Jun 2, 2011 6:10pm
At the moment, I'm looking forward for a potential of bullish reversal trend scenario either refering to the alt counts in yellow or white. A breakout to the pivot and bullish continuation critical line 2 would bolster to this scenario. Otherwise, market may perform a "Bear Trap" pattern in aqua before any opportunity toward a bullish reversal trend scenario. Also, please be careful toward NFP announcement tonight at 8.30pm (GMT +8). Happy weekend and good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 44 KB
  • #735
  • Jun 5, 2011 5:53pm Jun 5, 2011 5:53pm
At the moment, I believe market in progress to perform a bullish reversal trend scenario either refering to the alt counts in yellow or white. A breakout to the yellow upper trendline and a valid "Inverted Head and Shoulder" pattern would bolster to yellow alt scenario. Otherwise, please be careful for any breakout toward the pivot and S3 critical line. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 43 KB
  • #736
  • Jun 6, 2011 7:37pm Jun 6, 2011 7:37pm
At the moment, I'm looking forward for a potential of bullish reversal trend scenario either refering to the alt counts in yellow or white. A breakout to the upper yellow trendline and pivot critical line would bolster to this scenario. Otherwise, I believe we may see another "bearish trap" scenario. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 43 KB
  • #737
  • Jun 7, 2011 7:10pm Jun 7, 2011 7:10pm
Preferably, I'm looking forward for a potential of bullish reversal trend scenario refering to the alt count in yellow. A breakout toward the bullish continuation critical line 1 would bolster to this scenario. Otherwise, please be careful for any bearish trend which I believe could be a "bear trap" in progress. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 45 KB
  • #738
  • Jun 8, 2011 5:18pm Jun 8, 2011 5:18pm
At the moment, a potential of bullish reversal trend scenario is still yet remain to be seen. A breakout toward the aqua upper trendline is needed to determine that scenario is in favour. Otherwise, I believe we may see another bearish continuation trend scenario either to perform a "bear trap" pattern in aqua or further down to complete major wave v in magenta. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 43 KB
  • #739
  • Jun 12, 2011 5:07pm Jun 12, 2011 5:07pm
Gbp vs Jpy (1H) - At the moment, I'm looking forward for a formation of "bear trap" pattern to be completed and an opportunity toward a bullish reversal trend scenario either refering to the alt counts in yellow or aqua. Otherwise, a breakout to the aqua critical line would determine that market may already in bullish reversal scenario to perform major corrective wave c in white.

Gbp vs Jpy (Daily) - Preferably, I believe market in progress to complete major wave 2 either refering to the alt counts in yellow or white. Therefore, I'm looking forward for a potential of bullish continuation trend scenario to perform major wave 3. A bounce from FR 61.8% would bolster to this scenario. Good luck.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 41 KB
Click to Enlarge Name: gjdailyc.gif Size: 39 KB
  • #740
  • Jun 13, 2011 4:38pm Jun 13, 2011 4:38pm
Preferably, I believe market in progress to perform subcorrective wave b either refering to the alt counts in yellow or white, before expecting toward a potential of bullish reversal trend scenario. Otherwise, we may see an extension of subcorrective wave a in aqua. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj1hb.gif Size: 43 KB
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