Price hit 153 EMA on 15M chart, double bottom on 1H and maybe even on 4H chart coming up. My view is still unchanged. We'll see what NFP brings.
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- #403
- Nov 2, 2012 1:48am Nov 2, 2012 1:48am
- Joined Nov 2009 | Status: Trader | 2,582 Posts
And one last piece of boring analysis for the day.
You may have noticed that GJ has tried to stay above the fib 61.8 level several times since mid-September. This time it has more or less succeeded and met the long term trend line. Now, one of the long established odd facts about GJ is that it "likes" to go to the 76 fib level.
It is just possible that, if it has not retraced enough by NFP in a few hours, we may possibly see a spike up there (through the TL) to hit that level. Meaning that this sideways move is still part of wave c.
However, waves have this ability of dealing with time, rather than distance.
I measure 163 pips for wave a (127 ~128.6). If the current wave c began at 128.4, and if they were equal in length, then wave c could go to 130. The 76.4 fib level.
Although if it has dealt with the move in a sideways move, that would complete it.
You may have noticed that GJ has tried to stay above the fib 61.8 level several times since mid-September. This time it has more or less succeeded and met the long term trend line. Now, one of the long established odd facts about GJ is that it "likes" to go to the 76 fib level.
It is just possible that, if it has not retraced enough by NFP in a few hours, we may possibly see a spike up there (through the TL) to hit that level. Meaning that this sideways move is still part of wave c.
However, waves have this ability of dealing with time, rather than distance.
I measure 163 pips for wave a (127 ~128.6). If the current wave c began at 128.4, and if they were equal in length, then wave c could go to 130. The 76.4 fib level.
Although if it has dealt with the move in a sideways move, that would complete it.
- #405
- Nov 2, 2012 1:54am Nov 2, 2012 1:54am
- Joined Nov 2009 | Status: Trader | 2,582 Posts
Maybe he thought ranging pattern? ... My broker's MT4 is down for 25 minutes already, grrrrrrrr....
- #416
- Nov 2, 2012 2:52am Nov 2, 2012 2:52am
- Joined Apr 2011 | Status: Free Palestine.. | 1,567 Posts
My general view is Bullish and I am telling this for 2 months already, until we hit upper Trendline of suppose to be channel. Until then 95% of my trades go long.
We bounced up of the 53 EMA on 1H chart nicely.
If skills could be acquired by watching, every dog would be a butcher. Turk
- #418
- Nov 2, 2012 3:05am Nov 2, 2012 3:05am
- Joined Nov 2009 | Status: Trader | 2,582 Posts
Someone see your charts
- #420
- Nov 2, 2012 3:25am Nov 2, 2012 3:25am
- Joined Apr 2011 | Status: Free Palestine.. | 1,567 Posts
At the moment, GJ is in a very odd postion, as are all Yen pairs. They could go bullish or bearish. Even the best analysts are divided. To ask for anyone's charts is silly. It could go up or down. It's very much a 50:50.
If skills could be acquired by watching, every dog would be a butcher. Turk