Like I have said before, I just don't understand why people are so anxious to short this pair. It's not rocket science. This pair is going higher, and I've been saying that since 2,000 pips ago at the 140.00 level.
We may see a small retracement now from the 160 level, but then the trend will resume, once again. Are EatPips, GBP/JPY, and Mpt the only ones here who understand this? The move picked up steam yesterday when Bernanke extended the QE/bond purchases program, which is also not surprising and I've been calling for months, if you simply look at the data you would have realized that (and I HATE following fundamentals too, lol). The last thing Bernanke wants to do is stifle the economy even more that it's stifled at now (because Obama is seriously the worst president in the world, and jobs growth is NOT happening, nor is it going to anytime soon), and being a student of the Great Depression, Bernanke knows better than this. I am shocked that people actually thought the tapering process would begin around now.
It's hard to make predictions about where the market is going to go, but when you have a trend this strong, and a global economy that is this weak, it makes the predictions a lot easier. All of my indicators have been bullish for a long time now (despite what one person said... it's all about how you interpret the signals) so I don't know what you guys are talking about, and frankly, I'm sick and tired of hearing about this elliot wave / fibonacci hocus pocus stuff. It only semi-works because you're basing it off of historical information, and when the current information does not match what it's predicting, you have to completely change your thesis, logic, and reasoning for everything. That's too much trouble for me, it hardly seems like a science at all, and I wouldn't be comfortable changing my mind so often at what seems like every flip of the coin. My system and indicators are based 100% on CURRENT information, ie: what is happening NOW, and even a little bit of forecasting, and that is how it should be.
Keep in mind, the fundamentals are what set the course of direction and the direction has been set as BULLISH since PM Abe announced QE months ago at 140.00. Bernanke confirmed these global fundamentals yesterday with the continuation of $85 billion a month pumped into the market, and now the only thing left is for the technicals to play the game of ketchupppppppp. GBP is one of strongest currencies around and always has been. JPY is one of the weakest currencies around and always has been. ALL currencies will eventually be devalued, that is the ONLY outcome, unless the world including including US of A starts to get their fiscal house in order. Otherwise, just buy the crap out of everything including commodities too. It's not rocket science. And in fact, with interest rates so low, that is pretty much the only game in town, since they are essentially forcing you to put your money at risk if you want to make anything at all. It's not rocket science. Get with the program, or go away.
I seriously don't get why this is so hard for people to understand. Of course, I may be wrong, but what I said makes a heck of a lot of sense to me, and the data is there to support my claims. If you feel otherwise, perhaps you might want to take a course on "Econ 101", or just stop trading altogether. But I think I know now why Geppy had to take some time off from these forums, and I'm starting to think I may have to do the same.
Apologies for the harsh language, but trading is the name of the game, and such is the nature of that field. These are more than just my beliefs. This is my ultimate conviction. So if you feel that I may be wrong, please give me a few good reasons why, backed up with empirical data or at least more than "because I think so", and I would be more than happy to listen.
We may see a small retracement now from the 160 level, but then the trend will resume, once again. Are EatPips, GBP/JPY, and Mpt the only ones here who understand this? The move picked up steam yesterday when Bernanke extended the QE/bond purchases program, which is also not surprising and I've been calling for months, if you simply look at the data you would have realized that (and I HATE following fundamentals too, lol). The last thing Bernanke wants to do is stifle the economy even more that it's stifled at now (because Obama is seriously the worst president in the world, and jobs growth is NOT happening, nor is it going to anytime soon), and being a student of the Great Depression, Bernanke knows better than this. I am shocked that people actually thought the tapering process would begin around now.
It's hard to make predictions about where the market is going to go, but when you have a trend this strong, and a global economy that is this weak, it makes the predictions a lot easier. All of my indicators have been bullish for a long time now (despite what one person said... it's all about how you interpret the signals) so I don't know what you guys are talking about, and frankly, I'm sick and tired of hearing about this elliot wave / fibonacci hocus pocus stuff. It only semi-works because you're basing it off of historical information, and when the current information does not match what it's predicting, you have to completely change your thesis, logic, and reasoning for everything. That's too much trouble for me, it hardly seems like a science at all, and I wouldn't be comfortable changing my mind so often at what seems like every flip of the coin. My system and indicators are based 100% on CURRENT information, ie: what is happening NOW, and even a little bit of forecasting, and that is how it should be.
Keep in mind, the fundamentals are what set the course of direction and the direction has been set as BULLISH since PM Abe announced QE months ago at 140.00. Bernanke confirmed these global fundamentals yesterday with the continuation of $85 billion a month pumped into the market, and now the only thing left is for the technicals to play the game of ketchupppppppp. GBP is one of strongest currencies around and always has been. JPY is one of the weakest currencies around and always has been. ALL currencies will eventually be devalued, that is the ONLY outcome, unless the world including including US of A starts to get their fiscal house in order. Otherwise, just buy the crap out of everything including commodities too. It's not rocket science. And in fact, with interest rates so low, that is pretty much the only game in town, since they are essentially forcing you to put your money at risk if you want to make anything at all. It's not rocket science. Get with the program, or go away.
I seriously don't get why this is so hard for people to understand. Of course, I may be wrong, but what I said makes a heck of a lot of sense to me, and the data is there to support my claims. If you feel otherwise, perhaps you might want to take a course on "Econ 101", or just stop trading altogether. But I think I know now why Geppy had to take some time off from these forums, and I'm starting to think I may have to do the same.
Apologies for the harsh language, but trading is the name of the game, and such is the nature of that field. These are more than just my beliefs. This is my ultimate conviction. So if you feel that I may be wrong, please give me a few good reasons why, backed up with empirical data or at least more than "because I think so", and I would be more than happy to listen.
Please check out my blog at https://from-zero-to-hero . net
