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  • #6,561
  • Mar 25, 2012 6:13pm Mar 25, 2012 6:13pm
EUR JPY Upward channel is still intact. Waiting for Channel break down for short. .
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  • #6,562
  • Mar 25, 2012 6:42pm Mar 25, 2012 6:42pm
Quoting mukund200
EUR JPY Upward channel is still intact. Waiting for Channel break down for short. .
short is valid but only temp smart move is to wait and buy dips
  • #6,563
  • Mar 25, 2012 8:45pm Mar 25, 2012 8:45pm
Quoting Ill-b-back
Seems to be a quiet thread? Anyone else shorting this pair today?
Right now it,s in the middle of the daily channel. Would be a little risky to short. I,m waiting to see if we can get back to the 110.50 range before I short this pair again.
  • #6,564
  • Mar 26, 2012 2:35pm Mar 26, 2012 2:35pm
Quoting Bdisciplined
Right now it,s in the middle of the daily channel. Would be a little risky to short. I,m waiting to see if we can get back to the 110.50 range before I short this pair again.
so your shorting RIGHT NOW?
  • #6,565
  • Mar 26, 2012 3:23pm Mar 26, 2012 3:23pm
NO!!! Fricking way, this thing will be going to 113.60 area real soon.



Quoting Ill-b-back
Seems to be a quiet thread? Anyone else shorting this pair today?
Please do not vouch for me.
  • #6,566
  • Mar 26, 2012 4:13pm Mar 26, 2012 4:13pm
Why do so many people in this forum, absolutely bent on trading these things AGAINST the major trend. Can anyone answer this question. Its just plain dumb.


Quoting spillini
NO!!! Fricking way, this thing will be going to 113.60 area real soon.
Please do not vouch for me.
  • #6,567
  • Mar 26, 2012 8:37pm Mar 26, 2012 8:37pm
Quoting sidhujag
so your shorting RIGHT NOW?
I had a short in this morning when it hit 110.50. Got out with 20 pips before it reversed again.A lot of momentum to the upside right now.
  • #6,568
  • Mar 26, 2012 9:07pm Mar 26, 2012 9:07pm
See Star pattern on the Daily
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Please do not vouch for me.
  • #6,569
  • Mar 26, 2012 9:17pm Mar 26, 2012 9:17pm
EURJPY @ 110.54

Hi Traders...

I am an Elliott Wave trader, and use a number of fibonacci measurements... and love divergence trades.

This trade set-up has everything I look for in a trade:
1: pattern identification
2: specific minimum targets
3: fibonacci confluence
4: Divergence on the daily stochastic


Just wanted to point out the potential Expanded Flat (Elliott Wave) pattern that may be ready to unload a wave c of c...

And very obvious divergence on our momentum indicator...

...a nasty decline might be just ahead...

I will be on the sidelines or Short this pair... holding off on longs for now

Also have some timing vibrations lining up on 2012Mar27(+/-2)... and also 2012Mar30... from a daily chart

We have no idea where the next pip will go, but these patterns have proven themselves for decades, just know what to look for in case the pattern fails and this analysis is incorrect... the clues will tell us soon enough...

Good Luck traders
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  • #6,570
  • Mar 26, 2012 9:42pm Mar 26, 2012 9:42pm
Quoting spillini
See Star pattern on the Daily
Resistance on the daily is at 111.42. We stalled at 110.91 might be retracing a bit now. Not sure if its ready to dive or are we just retracing to gain momentum for a push north. IT,s been so hard to figure with all the constant volatility.
  • #6,571
  • Mar 26, 2012 9:47pm Mar 26, 2012 9:47pm
The Divergence I mean. The divergence move would have already been completed, concerning the drawing you posted....At least that is how I was taught. If I am wrong, I have been wrong for a very long time.See below.


AND, I can not see the C, looks to me like 2nd wave of C is just starting


Quoting deanoracer
EURJPY @ 110.54

Hi Traders...

I am an Elliott Wave trader, and use a number of fibonacci measurements... and love divergence trades.

This trade set-up has everything I look for in a trade:
1: pattern identification
2: specific minimum targets
3: fibonacci confluence
4: Divergence on the daily stochastic


Just wanted to point out the potential Expanded Flat (Elliott Wave) pattern that may be ready to unload a wave c of c...

And very obvious divergence on our momentum indicator...

...a nasty decline might...
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Please do not vouch for me.
  • #6,572
  • Mar 26, 2012 9:51pm Mar 26, 2012 9:51pm
Its got to rest....I mean nothing travels in a straight line. I think we push up thru that in next day or so. A man would have to be a complete loon to be short any pair tied to the Yen.

Quoting Bdisciplined
Resistance on the daily is at 111.42. We stalled at 110.91 might be retracing a bit now. Not sure if its ready to dive or are we just retracing to gain momentum for a push north. IT,s been so hard to figure with all the constant volatility.
Please do not vouch for me.
  • #6,573
  • Mar 26, 2012 9:55pm Mar 26, 2012 9:55pm
Check out the weekly. Fricking same thing only better with a nice Bullish Pin.
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  • #6,574
  • Mar 26, 2012 9:57pm Mar 26, 2012 9:57pm
Here is the monthly, same thing here. Now who in his right mind would be short this pair in the long term.




Quoting spillini
Check out the weekly. Fricking same thing only better with a nice Bullish Pin.
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Please do not vouch for me.
  • #6,575
  • Mar 26, 2012 9:59pm Mar 26, 2012 9:59pm
In a nutshell, here is how I figured my target on this pair in the long term.

Quoting spillini
Here is the monthly, same thing here. Now who in his right mind would be short this pair in the long term.
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Please do not vouch for me.
  • #6,576
  • Mar 26, 2012 10:47pm Mar 26, 2012 10:47pm
Quoting spillini
The Divergence I mean. The divergence move would have already been completed, concerning the drawing you posted....At least that is how I was taught. If I am wrong, I have been wrong for a very long time.See below.


AND, I can not see the C, looks to me like 2nd wave of C is just starting
EURJPY @ 110.61

Thanks for the feedback. Did not realize that this analysis would provide so much dialog... good stuff!

you are right - the divergence may have already played out... my charts haven't confirmed that as yours may have already.

it is likely that we probably have been taught divergence very differently... I have learned it from three instructors - 3 different ways... go figure huh... lol

I do not see divergence as complete when I read the charts I posted, not yet... price still has to break the recent high to negate the divergence or break the recent low to confirm it. At the time of the original post, price had yet to do that... still has not at the time of this post...

I am in line with all of you... not usually one to short this pair... I watch out for these possible... not absolute... but possible pattern developements...

in fact price could rise to 112.24 and then decline... and still qualify as an expanded flat.

Hey, I dont know where the next pip is going to be, just wanted to point out the possibility this pattern might unfold... It very well may not...

an expanded flat is a corrective pattern - implying that the move up would continue, following its completion....

I changed the colors of my downcandles and reposted the chart... that dark blue doesnt project to well... lets try red instead...

thx again for the feedback all...
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  • #6,577
  • Mar 26, 2012 11:08pm Mar 26, 2012 11:08pm
One thing I have found out in this line of work, is that there is never a sure thing.

Quoting deanoracer
EURJPY @ 110.61

Thanks for the feedback. Did not realize that this analysis would provide so much dialog... good stuff!

you are right - the divergence may have already played out... my charts haven't confirmed that as yours may have already.

it is likely that we probably have been taught divergence very differently... I have learned it from three instructors - 3 different ways... go figure huh... lol

I do not see divergence as complete when I read the charts I posted, not yet... price still has to break the recent high to negate the divergence...
Please do not vouch for me.
  • #6,578
  • Edited 2:40am Mar 27, 2012 2:02am | Edited 2:40am
in my wavecount we are also near the end of wave B after wave 5:5 has topped as i wrote here

http://www.forexfactory.com/showthre...54#post5502454

if it is true now is a good chance that wave c down starts at 78.6% retracement level

but there is also still a minor chance that wave 5:5 is just the end of extended wave 5:3 so that we see now final wave 5:5 up...but in that case upside momentum should be limited to not more than 100 pips or so...maybe it likes to make a double top
  • #6,579
  • Mar 27, 2012 3:25pm Mar 27, 2012 3:25pm
great buying opportunity imo
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Don't have an ego. Always question yourself and your ability.
  • #6,580
  • Mar 29, 2012 8:22pm Mar 29, 2012 8:22pm
My long term view is still long. My take on the last 2 days is...... A Witch....Ah...Er Stop hunt on the large scale. I am sure many washed out of this rally. Still long all the way to 113.60 area on E/J and same type of trade on U/J and Cad/J also. No pannik yet guys. But thats what they want you to do. Stops on E/J, U/J and CAD/J should be in the following areas repectively. E/J below 108, CAD/JPY below 81.5 and U/J the same at 81.5.

BTW, this is a good place to buy at a bargain. I am adding on all 3 pairs.
Please do not vouch for me.
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