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AUD/JPY

  • #601
  • Aug 20, 2013 12:44pm Aug 20, 2013 12:44pm
In this chart we can see a good 8 Hrs of Retrace from (3,B).

Think Wave "C" is started.

This is also a 3 wave pattern.

I am expecting something like the "RED" Lines.

back to 23.6 and down to 50% (This can happen on FOMC statement) and then will shoot up to complete the "C" wave.

I think the second red line can happen with FOMC pre news.

Mostly FED wont do tapering on sep and that will bring the market up to complete the wave "C".

I was (Buy) in with a small position from 88.10 and added it to full position at 88.30. Initial first target at 23.6% (89.18).

KC.

Edit:- This is were I need more research or guidance....

Wave 5 took 21 days
Wave A took 8 Days.
Wave B took 4 Days. (usually the theory is correction cant be quick. It should take equal time like other ways). So have to be open that still "B" is cooking and can come down anytime.... If you have any insite..let me know.
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy_8_20_2013_4hr_2.png Size: 92 KB
  • #602
  • Aug 20, 2013 12:57pm Aug 20, 2013 12:57pm
Bhoopalan has the top trend line I am looking to reach and the cloud covered.
KCV has the Elliot Wave studied.
The 12 Moving averages looked good.
So I decided to draw some lines on H1, risk reward looked nice, apart from being a bit cheap on the SL this could work out.

Attached Image (click to enlarge)
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  • #603
  • Aug 20, 2013 1:06pm Aug 20, 2013 1:06pm
Quoting Kissa
Bhoopalan has the top trend line I am looking to reach and the cloud covered. KCV has the Elliot Wave studied. The 12 Moving averages looked good. So I decided to draw some lines on H1, risk reward looked nice, apart from being a bit cheap on the SL this could work out. {image}

Sounds good to me Kissa....My view is also the same direction...some where around R3 and R4 is my first target.

Glad we are in same page.

  • #604
  • Aug 20, 2013 9:04pm Aug 20, 2013 9:04pm
Quoting KCV
In this chart we can see a good 8 Hrs of Retrace from (3,B). Think Wave "C" is started. This is also a 3 wave pattern. I am expecting something like the "RED" Lines. back to 23.6 and down to 50% (This can happen on FOMC statement) and then will shoot up to complete the "C" wave. I think the second red line can happen with FOMC pre news. Mostly FED wont do tapering on sep and that will bring the market up to complete the wave "C". I was (Buy) in with a small position from 88.10 and added it to full position at 88.30. Initial first target...

So the Edit on this quoted post is getting true.

Looks like "B" is still cooking.

Have to recount the waves.

On short from 87.97 with a small position. +30 so far
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy_8_20_2013_4hr_3.png Size: 90 KB
  • #605
  • Aug 20, 2013 9:37pm Aug 20, 2013 9:37pm
AUD and China data was positive
  • #606
  • Aug 20, 2013 9:42pm Aug 20, 2013 9:42pm
Quoting Greener
AUD and China data was positive
AUD data was not positive, flat v. .3% previously. As the sessions progress, I think it will be wacky because FOMC.
When the facts change I change my mind, what do you do sir
  • #607
  • Aug 20, 2013 9:55pm Aug 20, 2013 9:55pm
AUD data was flat but better than Westpac previous forecast. Market priced in a growth trend below 3% but on an annualized basis it is still above 3%.
  • #608
  • Aug 20, 2013 9:59pm Aug 20, 2013 9:59pm
Quoting Pip Anon
{quote} AUD data was not positive, flat v. .3% previously. As the sessions progress, I think it will be wacky because FOMC.
yes. I agree. Till tomorrow afternoon it will be up and down...
  • #609
  • Aug 20, 2013 10:06pm Aug 20, 2013 10:06pm
Quoting Greener
AUD data was flat but better than Westpac previous forecast. Market priced in a growth trend below 3% but on an annualized basis it is still above 3%.
The market is about expectations. Aussie likes to disappoint
When the facts change I change my mind, what do you do sir
  • #610
  • Aug 21, 2013 2:26pm Aug 21, 2013 2:26pm
Still hanging on to the trade I should have newer taken, but they come and go cant win em all.
Closed half at +- 0 as it was not taking off as I expected and moved SL further south to where it should have been from the start.
Volume is piking up so there might be some action.
  • #611
  • Aug 21, 2013 2:34pm Aug 21, 2013 2:34pm
spot:

AUD/JPY long
NZD/JPY short
AUD/NZD long

good luck
  • #612
  • Aug 21, 2013 3:13pm Aug 21, 2013 3:13pm
Quoting openyoureyes
spot: AUD/JPY long NZD/JPY short AUD/NZD long good luck
Any Chart for these reasons?

Thanks.
  • #613
  • Aug 21, 2013 3:24pm Aug 21, 2013 3:24pm
Quoting KCV
{quote} Any Chart for these reasons? Thanks.
AUD/JPY long -> small lots, no technical reasoning - China flash manuf today / so just a position to track, will stack if goes +

NZD/JPY speaks for itself

AUD/NZD -> CCI / Price corr. - also I expect NZD should be down this week + next
Attached Image(s) (click to enlarge)
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  • #614
  • Aug 22, 2013 9:19am Aug 22, 2013 9:19am
HI Congraj on A/J, Hope you made lot of $$$

  • #615
  • Aug 22, 2013 9:24am Aug 22, 2013 9:24am
Here is my Daily and 4hr View.

Think (3,B) Is complete. Wave "C" started.

This is the biggest correction wave among ABC.

"C" is a five wave pattern.

This can take long time to complete.

Wave "C" will mostly complete at 161.8 of Wave "A". (That is 92.51)

This will complete a full cycle of Elliot Wave 5+3 corrective waves.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audjpy_8_22_2013_1_daily_1.png Size: 124 KB
Click to Enlarge Name: audjpy_8_22_2013_4hr_1.png Size: 132 KB
  • #616
  • Aug 22, 2013 9:39am Aug 22, 2013 9:39am
Quoting KCV
HI Congraj on A/J, Hope you made lot of $$$
hi,
I closed those unfortunately
wasn't brave enough + had to sleep.
  • #617
  • Aug 22, 2013 9:44am Aug 22, 2013 9:44am
actually I switched to

A/J short
N/J short

before news,
which was a huge mistake....
  • #618
  • Aug 22, 2013 11:11am Aug 22, 2013 11:11am
Quoting openyoureyes
{quote} hi, I closed those unfortunately wasn't brave enough + had to sleep.
Omg...was happy for you. I had a scalping loss on that.

Don't worry buddy.... We will catch it again..

KC.
  • #619
  • Aug 22, 2013 11:13am Aug 22, 2013 11:13am
Quoting KCV
Here is my Daily and 4hr View. Think (3,B) Is complete. Wave "C" started. This is the biggest correction wave among ABC. "C" is a five wave pattern. This can take long time to complete. Wave "C" will mostly complete at 161.8 of Wave "A". (That is 92.51) This will complete a full cycle of Elliot Wave 5+3 corrective waves. {image} {image}
I love when the Elliot Wave Fractals are in right place.

I already posted my Daily and 4Hr view...

Look at this 15M Fractal...

Perfect Text book...

Here is my view ....
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy_8_22_2013_15m_1.png Size: 77 KB
  • #620
  • Aug 22, 2013 11:15am Aug 22, 2013 11:15am
Quoting openyoureyes
actually I switched to A/J short N/J short before news, which was a huge mistake....
I agree with you A/J view...Reason see the 15M chart I posted.

I might go down till 88.49.

Then will shoot up.
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