Euro/Dollar

Stop moved to 3330... nice bounce out of support zone... if it fails now I'm out in profit...

Scratch that... after studying the chart I have found a very promising... and very very bullish count, which could see a pull back from current levels as deep as the target circled fib cluster...

Which also is in confluence with the Elliott Channel for the next few hours...

We could just continue higher having bounced from the wave 4 of one lesser degree blue box posted earlier... but I wouldn't bailout if that support zone fails, given this alternate, even more bullish count....

The pullback will be deeper, but the upside is greater... That makes sense if you think of it as the market coming back down, retesting prior firm support after the initial start of a big move... we see that all the time... In this case it fits right into an alternate Elliott count, and has caused me to lower my stop and accept a failure of the blue box support zone... should it come, which seems increasingly less likely as I type... but does exists until we trade higher than 3378

Short GBPUSD 5990 on a scalp play... stop 6005 Target 5945

BOJ open ended asset buys until 2% inflation achieved.... YIPPEE for us longs !!

USDJPY looks like this.... puts us forming wave (v) aqua up from 89.40 area... and that means when this wave (v) aqua move is over.. eventually,... the correction will bring us back to this same (what will be) prior wave (iv) aqua area... and that would be where to enter if you missed this...

Even though 90.00 should prove a hurdle... normally...

what has been happening lately is that BOJ comes in and helps the pair over whatever the next hurdle happens to be....

so 90 will be a hurdle, and I expect BOJ to come around soon, or in early Asia thin conditions... and goose the pair up and through the 90 barrier....

Closed this +8...

If EURJPY gets moving could drag GPB with it

Order in to book some profit at 3390.....

Looking to reload on pullback.....

This is where Elliott gets confusing and where most people give up before they ever figure it out.... There are times when it is unclear what degree you are looking at....

You have to keep several possible counts going, eliminate some as the chart unfolds, and make decisions by weighing probabilities across several counts.

This is in five waves already.... but may very well be just one smaller fractal that what I am trying to trade ( this is what I think)... in other words it isn't the whole move, yet its so clean, and so in five waves, a correction must follow...

Taking half off here at the purple channel top would be prudent, because I should get a chance to reload lower, no matter which of several possible counts is actually in play....

Profit booked in USDJPY @ 90.08 + 69 pips...

Will reload lower as detailed in post earlier...

I took USDJPY off at the 261.8 Fibo extension for its wave 3, which is a usual place for a large wave 3.... of course this is a manipulated pair, so who knows... maybe it won't respect the Fibo target and continue higher.... But I have noticed it is acting more normally than it was when it was parabolic before the last correction, so I'll take that chance...

Reload coming up near 89.50.....

If the BOJ lets us come off the highs in normal fashion.... my buy limit orders await in the blue box

Watching the impulse channel's top which comes in above the 3403 prior wave high, now at 3410 the first hour after rollover, and rising each hour. I still think it is more likely that the PA seen so far is part of a smaller fractal, and not the nearly completed move.

If the channel top is hit we will correct after and continue even higher, but now that the channel top is higher than the prior wave's high of 3403, more profit will be taken on a channel hit. I'll raise my take profit order each hour till we either hit, or more price action reveals that we can only be inside a smaller fractal.

Looks like USDJPY missed the entry orders by 4 pips, and reversed into the next leg higher at 89.64.... I have grabbed a small order at 90.05. USDJPY has been giving shallow reversals because of the strength of its trend... of course, it may still come down there, but I want at least a small order riding, even if its entry price insn't ideal.

I have a take profit order on EURUSD at 3403....

I've kept the USDJPY order to half size, because there exists the possibility that the ABC from the (v) aqua Silver 3 high of 90.13 will turn out to be an expanded flat where we see the b wave actually make a higher high during the correction than the end of the prior impulse wave... in that case the end of the correction, the c wave, will be lower than the 89.64 low already in....

We just had an expanded flat in the last swing, and they are not uncommon... There is no way to tell at this point.... is this the beginning of the next leg up, or just part of the correction? They are tricky corrections.... They fool a lot of people who buy the new high, ony to dump the coming new lower low, even though that new lower low is near the end of the correction they bought into thinking the new leg was already underway...

I've kept my position size 1/2 at this point so I will be able to add lower in the buy zone box, if this too turns into an expanded flat...

Here's the pattern from Prechter... an expanded flat correction...

EURUSD stop loss moved to 3359... will look to reload lower if hit...

I don't what the hell I was thinking about with that order.. I had just been woken up by an alarm when price trader above 3388...

I just took 25% off at 3397.5.... + 102.5 Pips

had to cancel this order and manually trade at market trying to hit 3398.... Almost all my trades are by limit order, but not this time...

Stop moved to 3365

EURUSD looking weak with a lot of overlapping PA... if 3360 breaks to the downside there is support just below at 3349, 3335.... doubt it goes below 3335... Cancelling my stop loss order at 3365.... I'm just gonna hang onto it since solid support just below anyway... that is where I would look to reload 3349, then 3335...