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An Elliot Wave Technical Analysis For GBP Vs JPY

  • #761
  • Jul 7, 2011 8:40pm Jul 7, 2011 8:40pm
Quoting Jebatfx
At the moment, market have to break the pivot and R3 critical line to bolster toward the bullish reversal trend scenario to perform corrective wave c. Otherwise, I believe we may see a "bear trap" pattern either in aqua or magenta before a potential of reversal trend.

Really necessary to put that post in 3 threads?
  • #762
  • Jul 10, 2011 6:18pm Jul 10, 2011 6:18pm
At the moment, I believe market in progress to perform a bullish reversal scenario either referinf to the alt counts in yellow/white or aqua. Otherwise, please be careful for any breakout toward the magenta/aqua critical line. Good luck.
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  • #763
  • Jul 11, 2011 7:25pm Jul 11, 2011 7:25pm
At the moment, market just perform a strong bearish continuation trend scenario. Therefore, I'm looking forward for an opportunity toward either a bullish retracement trend scenario in magenta or yellow. Otherwise, we may see a potential of bullish reversal trend scenario in aqua. Good luck.
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  • #764
  • Edited 12:41am Jul 12, 2011 12:28am | Edited 12:41am
Quoting peaches
Hi,

I have not much knowledge about EW, I only know that market moves in waves.

Is this a possible count ?
My opinion is that the gbpjpy develops a FLAT structure (3-3-5) and now we are in the subwave B of the A-B-C of the flat.

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  • #765
  • Jul 12, 2011 7:38am Jul 12, 2011 7:38am
Diavolul,

Excellent count on the wave.

You hit the nail on the head.

Keep them coming please.
  • #766
  • Jul 14, 2011 11:18am Jul 14, 2011 11:18am
Favourably, I believe market have to perform another bearish continuation trend scenario either to complete wave 5 (yellow or magenta) or corrective wave b (aqua or white). A breakout toward the lower yellow trendline would bolster to this scenario. Good luck.
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  • #767
  • Jul 18, 2011 9:13am Jul 18, 2011 9:13am
At the moment, a breakout to the upper green trendline would bolster toward the alt count in white scenario. Otherwise, a breakout to the pivot critical line would indicate that market in progress to complete either a corrective wave b in aqua or wave 5 in yellow (truncated) before a potential of bullish reversal trend scenario. Good luck.
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  • #768
  • Jul 21, 2011 7:37pm Jul 21, 2011 7:37pm
At the moment, a further breakout towards the bullish continuation critical line 2 would determine that market may in progress to perform subwave 3 in white. Otherwise, we may see another bearish trend either to complete corrective wave b in aqua or wave 5 in yellow. Happy weekend and good luck.
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  • #769
  • Jul 24, 2011 7:30pm Jul 24, 2011 7:30pm
At the moment, I believe market have more potential to perform another bearish continuation trend scenario either to complete corrective wave b in aqua or wave 5 in yellow/magenta. A breakout toward the lower red trendline would bolster to this scenario. Otherwise, market may bounce back to perform subwave 3 in white. Good luck.
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  • #770
  • Jul 25, 2011 7:14pm Jul 25, 2011 7:14pm
Preferably, I'm looking forward for another bearish continuation trend scenario before a potential of bullish reversal trend opportunity either refering to the alt counts in aqua or yellow. A breakout to the S3 critical line would bolster to this scenario. Otherwise, we may see a strong bullish continuation trend scenario perhap to perform wave 3 in white. Good luck.
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  • #771
  • Jul 26, 2011 11:54am Jul 26, 2011 11:54am
Studying Elliott Wave or any other wave pattern recognition theory, so many traders put too much emphasis on what the wave count is with regards to the current market.NRather than getting so caught up in where the market is in the count, I scan the markets for only 4 “high probability” patterns– Impulse, Zig Zag, Ending Diagonal and Contracting Triangles. Certain aspects of these 4 high probability patterns have shown high levels of probable outcomes and they all can be fairly easy to see, even without Elliott Wave indicators or software.

I trade primarily 14 currency pairs and I scan all my charts within minutes. Once I see any potential high probability patterns, I then investigate further with more analysis. I’m not suggesting people should disregard all that Elliott Wave Theory has to offer – as a full understanding will help you in your trading. But ask yourself – Why am I trading? I, for one, enjoy trading and the challenges and excitement that come with it. However, the bottom line is, we’re all here to make money. So, put the odds in your favor and search for the high probability patterns.

  • #772
  • Jul 28, 2011 7:23pm Jul 28, 2011 7:23pm
Quoting mathtrader
[font=Helvetica][size=3]Studying Elliott Wave or any other wave pattern recognition theory, so many traders put too much emphasis on what the wave count is with regards to the current market.NRather than getting so caught up in where the market is in the count, I scan the markets for only 4 “high probability” patterns– Impulse, Zig Zag, Ending Diagonal and Contracting Triangles. Certain aspects of these 4 high probability patterns have shown high levels of probable outcomes and they all can be fairly easy to see, even without Elliott Wave indicators...
Hi, I totally agreed with what u said. Happy trading.
-------------------------------------------------

At the moment, I'm looking forward for a potential of bullish reversal trend scenario refering to the alt count in white. A breakout to the upper green trendline and R3 critical line would bolster to this scenario. Otherwise, I believe we may see another bearish continuation trend scenario either to complete corrective wave b in aqua or wave 5 in yellow. Happy weekend and good luck.
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  • #773
  • Jul 31, 2011 9:29pm Jul 31, 2011 9:29pm
At the moment, market have a good potential to perform a bullish reversal trend scenario either refering to the alt counts in white or aqua. A further breakout toward the bullish continuation critical line 1 would bolster to this scenario. Otherwise, I believe market may perform another "pullback" scenario to complete corrective wave b in yellow. Happy Ramadan and good luck.
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  • #774
  • Aug 1, 2011 9:29pm Aug 1, 2011 9:29pm
At the moment, due to the yesterday strong pullback, there previous alt counts in aqua and white is already invalid. Preferably, I'm looking forward for a potential of bullish reversal trend scenario opportunity either refering to the alt counts in yellow or aqua. Otherwise, I believe we may see an extension of corrective wave a in white. Good luck.
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  • #775
  • Aug 3, 2011 9:27pm Aug 3, 2011 9:27pm
At the moment, I believe market in progress to perform either subwave 3 in aqua or yellow. Please be noted that market have a potential to perform a retracement trend to complete subwave 4 in aqua before another bullish continuation trend scenario. Otherwise, please be careful for any breakout toward aqua/yellow critical line. Good luck.
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  • #776
  • Aug 4, 2011 8:31pm Aug 4, 2011 8:31pm
Preferably, I believe market in bearish retracement trend scenario to complete subwave 4. Therefore, I'm expecting market to perform another bullish continuation trend scenario either to complete a truncated of subwave 5 (yellow or aqua) or an impulsive subwave 5 (white). A strong bounce from FR 61.8% critical line would bolster to this scenario. Otherwise, please be careful for any breakout to the bearish continuation critical line 1 and 2. Happy fasting weekend and good luck.
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  • #777
  • Aug 7, 2011 10:44pm Aug 7, 2011 10:44pm
At this moment, I'm looking forward for another bullish continuation trend scenario either to complete subwave 5 in yellow, aqua or white. A breakout toward the bullish continuation critical line 1 would bolster to this scenario. Otherwise, I believe we may see a truncated scenario of subwave 5 in magenta to perform subcorrective a,b and c. Good luck.
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  • #778
  • Aug 8, 2011 7:19pm Aug 8, 2011 7:19pm
At the moment, I believe market already completed a truncated scenario of subwave 5. Preferably, I'm looking forward for a potential of bullish reversal trend scenario either refering to the alt counts in yellow, aqua or white (double bottom/bearish trap). Good luck.
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  • #779
  • Aug 9, 2011 7:40pm Aug 9, 2011 7:40pm
At the moment, I'm looking forward for a potential of bullish reversal trend scenario either refering to the alt counts in aqua (Inverse HnS), white (double bottom) or yellow (Bear Trap). Otherwise, please be careful for any strong breakout toward the bearish continuation critial line 3. Good luck.
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  • #780
  • Aug 17, 2011 10:15pm Aug 17, 2011 10:15pm
Preferably, I'm expecting market to perform a bearish retracement trend scenario to complete corrective wave b either in yellow or aqua. A breakout to the pivot critical line and lower red trendline would bolster to this scenario. Otherwise, I believe we may see a "bull trap" pattern in white. Good luck.
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