An ascending triangle on USDCAD may make for some more upside movement:{image}
- #76,423
- Edited 5:31am Oct 1, 2014 5:18am | Edited 5:31am
- | Joined May 2014 | Status: Trader | 2,733 Posts
How about we discuss GBPJPY? The whip and whack caused by the Asian MM's during the Scottish vote has caused what looks to be a reversal candle when viewing W1 chart. Since then there has been some serious ranging and high volume going both ways. It seems everyday at one point there was good evidence for a Classic Short and/ or a Classic Long. I was hoping someone could provide some insight because I have developed a basis thinking on the pair which cause me to look for signs I want to see verse signs that just are. Anyway my bais is MM's building...
GBPJPY Monthly Weekly
Bullish but overbought. Maybe have less buyers at that price, except those who have no choice but to change the currency for their purposes. Perhaps it is not so, and the price goes up to 62% fibo.
In short, monthly, remains bullish.
Weekly, remains bullish, too.
Daily chart shows correction consolidation. Maybe it visit the 38% fibo of the last bullish wave. We do not know yet.
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- #76,424
- Edited 5:52am Oct 1, 2014 5:39am | Edited 5:52am
- | Joined May 2014 | Status: Trader | 2,733 Posts
{quote} My opinion GBPJPY Monthly Weekly Bullish but overbought. Maybe have less buyers at that price, except those who have no choice but to change the currency for their purposes. Perhaps it is not so, and the price goes up to 62% fibo. In short, monthly, remains bullish. Weekly, remains bullish, too.{image}{image} Daily chart shows correction consolidation. Maybe it visit the 38% fibo of the last bullish wave. We do not know yet. {image}
I show a possible scenario, but it is entirely subjective, since no one can predict the market. The market can only be followed step by step, wave to wave.
Other scenario
Now, we could try, in smaller timeframes, to see where market participants have more interest. It is a more delicate work, and remains subjective.
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- #76,425
- Oct 1, 2014 6:00am Oct 1, 2014 6:00am
- | Joined May 2014 | Status: Trader | 2,733 Posts
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- #76,426
- Oct 1, 2014 6:37am Oct 1, 2014 6:37am
{quote} I hope I have contributed to your request. But I would like to know more views. I know mine. What is the point of view of another? Take this opportunity to add my previous post on GBPJPY, I think the second scenario is more probable than the first.
You have contributed to what I believe next step with this pair should be...
Wait and see
! Like I said I had a personal bias which was this was building shorts for a bear run, and now the more I look at it I don't see signs either way. So I'll let MM steal others money for now until true motive is revealed...
- #76,427
- Edited 7:06am Oct 1, 2014 6:56am | Edited 7:06am
- | Joined May 2014 | Status: Trader | 2,733 Posts
{quote} You have contributed to what I believe next step with this pair should be... Wait and see
To finish the correction has broken a fractal of the same degree that the wave corrected.
Elliot fans for this would be the highest part of the B-wave (if the pair remains bullish) or the lower part of the C wave (when the pair becomes downward). But here we can not get into that.
Yes we can do Chartism, and while the child out or finish the pair figure charting is very difficult to find the first pattern to finish the correction.
So for me, very short trades, as the pair is contained within a corrective charting.
IMHO
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- #76,428
- Oct 1, 2014 7:25am Oct 1, 2014 7:25am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #76,430
- Oct 1, 2014 8:08am Oct 1, 2014 8:08am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #76,431
- Oct 1, 2014 8:10am Oct 1, 2014 8:10am
- | Joined May 2014 | Status: Trader | 2,733 Posts
GBPAUD Long Trade Open: Classic entry. Decent PA wave, Dragon is angled up, so is Trend, Dragon is above Trend, PA above both, and LS entry. TP not set, but looking for upper whole number/RDH area if it breaks MR2. {image}
Here we have opposite perceptions. I have given priority to engulfing H4 and double top. And I go short. Now I have doubts ...
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- #76,432
- Edited 8:43am Oct 1, 2014 8:19am | Edited 8:43am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
Now that it got my attention.. https://www.youtube.com/watch?v=Hh9yZWeTmVM Sonic {image}
What got my attention is that you are not displaying the Sonic R. System Access Panel. It is impossible for me and others to see what pair and TF chart this is (except for the FF subtitle, thank God!). We Sonicers don't have time to look for bigger monitors or spy glasses to use to try and see the information we look for in postings, which is why the Access Panel was originated a long time ago!
Yes, the Day candle currently looks nicely bullish - with a close price less than half way down the candle spread - but, the candle has not yet closed for the Day! Things could end up differently. As you say, it is an attention getter that suggests watch dogging the pair.
-tah
- #76,433
- Oct 1, 2014 8:25am Oct 1, 2014 8:25am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #76,434
- Edited 8:46am Oct 1, 2014 8:44am | Edited 8:46am
- Joined Aug 2013 | Status: Trader | 917 Posts
{quote} Sonic, What got my attention is that you are not displaying the Sonic R. System Access Panel. It is impossible for me and others to see what pair and TF chart this is (except for the FF subtitle, thank God!). We Sonicers don't have time to look for bigger monitors or spy glasses to use to try and see the information we look for in postings, which is why the Access Panel was originated a long time ago!
Don't blame the tools. Blame the carpenter.
- #76,435
- Edited 9:15am Oct 1, 2014 8:47am | Edited 9:15am
- | Joined May 2014 | Status: Trader | 2,733 Posts
{quote} GBPAUD H4 Here we have opposite perceptions. I have given priority to engulfing H4 and double top. And I go short. Now I have doubts ...
In doubts, I close short.
Bonus 1
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- #76,436
- Oct 1, 2014 8:51am Oct 1, 2014 8:51am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #76,437
- Oct 1, 2014 9:07am Oct 1, 2014 9:07am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #76,438
- Oct 1, 2014 9:27am Oct 1, 2014 9:27am
- | Joined May 2014 | Status: Trader | 2,733 Posts
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- #76,439
- Oct 1, 2014 9:34am Oct 1, 2014 9:34am
- | Joined May 2014 | Status: Trader | 2,733 Posts
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