Dragon Riders GBP/JPY

Last 24 hours would have been great for scalpers. Lets see if we can get some movement after the UK Budget and US CPI in 30 minutes
im looking for a break above 34 SMA on 1H currently at 160.360 as a place to start

yeah news dang i'm putting stop to BE. 1.41098 GU

wave .. follow which one ????

Don't worry most Elliot wave counters are confused themselves. You are not alone.

Tell you what the most highest probability you are in wave 3 is when wave 3 ends at or pass 162 extension. You can almost be certain there will be a wave 4 and 5. That is when you will see most new traders trying to go against the trend too and getting margin calls from their broker.

Oh great GU hit my TP1 after it hit my BE. Dayum news scared me out to BE.

GU at 100% extension now. I just watch and see my baby leave without me.

level 160.260/160.398
and 161.465 .

closed above , long

** care 160.260 may be long trigger , sry is .26

working

looking 162ish for a short

Long from 160.237 , hold, TP 0.618*CD = 162.344
hope wave and tp correct

dragon should test the 200 ma and fib retracements, then tank to oblivion $$

I'm thinking a potential head and shoulders pattern could form on the daily.

I am thinking bullish BAT pattern form with
C' 164.083
D' 159.531

then this 'D is begin of wave 1
1 - 160.654
2 - 159.640
3 - so now is as wave 3 can reach min 161.78

so target 1 is 161.78 , target 2 is 0.618* CD.
* I fail.
* wave theory fail in trading lolz

I'm not going to be surprised if GJ goes below 159.50 today. After the FOMC news yesterday GU rallied big time while GJ barely moved. So GJ extremely weak. Just an opinion I'm gonna keep watch how it turns out after London Open.

Bro , I give up learn wave , totally bullshit , many times fail to tp.

Bro use wave theory on the daily/weekly, the hourly charts and below are easily manipulated by the news. For example, yesterdays big time news FOMC. This is why I set aside all technical analysis when a big news like that is coming out. See technicals works too on hourly but news can blow them away easily. You just gotta be able to put them all together. Fundamentals and Technical.

I think maybe the issue you are having is you are not using the correct time frames to count the waves. I say that because of the post you made yesterday with all the different ones. Also, this pair is a little more tricky because you need to constantly watch both GU and UJ to see where they are also. At least to me I need to watch them

Anyways, my numbering is probably not accurate, but Im looking at a small wave 5 inside the larger 1 of V.....and this is on the 1 hour

I believe we just finished the larger IV on friday so this is the 1st leg of the last wave down

take a look at the fib location on on the up move from last week black and orange colored fibs and the pattern. Almost identical to yesterday and todays corrective move and depth in relation to the down move. Thats why i think it was wave 4 as opposed to B in an ABC corrective like wave 2 would have been.

Also a nice target for the end of wave 5 is to draw a trendline from the beginning of wave 3 to the end of 4 and take a parallel and put it at the end of 3. Wave 5 will usually end very close to the trendline

Again, I cant count very well, but thats my count

nvm , I use my own method still able catch +50 pips from that down move , but previous up because I target using wave , so blow my >+77 pips , at last only get +17 pips , rofl , bad idea move to wave.

BOJ Gov Kuroda speaking in a little over an hour. He could try and jaw bone down jpy as per usual.