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Thread: GBP and JPY Pairs

  1. #70636
    Paul Chin's Avatar
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    The range is no more

    We are at the start of a downtrend, based on my indi, unfortunately. Price has closed below 1.3 on a 4 hourly close. The only hope for the longs is that the sequence of the clouds are not in line yet, so there may be room for some upmoves.

    It did happen before that the bullish move pushed past the clouds and within a day or two break downwards in a very strong down move, but that's not a norm.
    GBP and JPY Pairs-chart_eur_usd_4-hours_snapshot.jpg

    Good luck!

    Sorry if I cannot answer you immediately. I'm busy moving the market in the opposite direction...

  2. #70637
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  3. #70638
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    Quote Originally Posted by Paul Chin View Post
    We are at the start of a downtrend, based on my indi, unfortunately. Price has closed below 1.3 on a 4 hourly close. The only hope for the longs is that the sequence of the clouds are not in line yet, so there may be room for some upmoves.

    It did happen before that the bullish move pushed past the clouds and within a day or two break downwards in a very strong down move, but that's not a norm.
    Click image for larger version. 

Name:	Chart_EUR_USD_4 Hours_snapshot.jpg 
Views:	163 
Size:	61.2 KB 
ID:	113647

    Good luck!
    It certainly wants to give that impression. What I can't qualify though is that we have a series of overlapping waves and now a long downward triangle - this seems to fit the 'C' wave scenario better than an impulsive move. If it was the latter, we would have to count a series of 1-2's (3 of them) because they all encroach on each other so can't be 4th waves, but we have not seen a clear 3 wave in this move either. My gut says you are right but my amateur EW head (that lets me down a lot!) still can't see it. We shall see though in the goodness of time, of course.

    I have added a chart with a double zigzag count for a corrective wave down just completed - can anyone find a better count or why this one is wrong?
    รูปขนาดเล็ก รูปขนาดเล็ก GBP and JPY Pairs-tyui.jpg  

    Last edited by Clivewaverider; 02-16-2012 at 08:40 AM. Reason: Chart
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  4. #70639
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    Quote Originally Posted by Clivewaverider View Post
    It certainly wants to give that impression. What I can't qualify though is that we have a series of overlapping waves and now a long downward triangle - this seems to fit the 'C' wave scenario better than an impulsive move. If it was the latter, we would have to count a series of 1-2's (3 of them) because they all encroach on each other so can't be 4th waves, but we have not seen a clear 3 wave in this move either. My gut says you are right but my amateur EW head (that lets me down a lot!) still can't see it. We shall see though in the goodness of time, of course.
    Hmm we have that hit in DX on the upper line without breaking it, same on euro but on the inferior way (equidistant channel) who also coincides with support line 0.50 fibo and the Double Bottom on Gold on fridays low at 1705.
    I can see a little hammer right over there on the euro H2
    Are this signs for a little returns?!
    Last edited by Dimake; 02-16-2012 at 08:46 AM.
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  5. #70640
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    รูปขนาดเล็ก รูปขนาดเล็ก GBP and JPY Pairs-7.jpg  

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  6. #70641
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    Quote Originally Posted by Clivewaverider View Post
    It certainly wants to give that impression. What I can't qualify though is that we have a series of overlapping waves and now a long downward triangle - this seems to fit the 'C' wave scenario better than an impulsive move. If it was the latter, we would have to count a series of 1-2's (3 of them) because they all encroach on each other so can't be 4th waves, but we have not seen a clear 3 wave in this move either. My gut says you are right but my amateur EW head (that lets me down a lot!) still can't see it. We shall see though in the goodness of time, of course.

    I have added a chart with a double zigzag count for a corrective wave down just completed - can anyone find a better count or why this one is wrong?
    Other than guts and my indi, I do have reasons to believe that there will be more significant upmove than what we are seeing now prior to any significant downmove.

    EURUSD is a very volatile pair, compared to any others. What is happening since yesterday is too smooth, all the way down.... this is not EURUSD style. But the downtrend is confirmed as of posting, irregardless of any spikes. Good luck!

    Sorry if I cannot answer you immediately. I'm busy moving the market in the opposite direction...

  7. #70642
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    Quote Originally Posted by Alejandro Zambrano View Post
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    AUD/USD playing out well. + I would not short the EUR now

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  8. #70643
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    Any ideas ?

    Any ideas on EUR/USD? It looks like it's pulling up. But the daily candle just doesn't look like it is going to turn green. Is it just going to reach 1.3050 and then bounce back down?

  9. #70644
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    EURUSD 30 min

    Quote Originally Posted by Miss Pips View Post
    Any ideas on EUR/USD? It looks like it's pulling up. But the daily candle just doesn't look like it is going to turn green. Is it just going to reach 1.3050 and then bounce back down?
    Perhaps up to 1.308 and 1.31 (today's pivot) is a possible target for the longs.
    รูปขนาดเล็ก รูปขนาดเล็ก GBP and JPY Pairs-eurusd.jpg  

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  10. #70645
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    Quote Originally Posted by Miss Pips View Post
    Any ideas on EUR/USD? It looks like it's pulling up. But the daily candle just doesn't look like it is going to turn green. Is it just going to reach 1.3050 and then bounce back down?
    No offence, but before you post any of this kind of message just read the older post and you'll find ur answer
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  11. #70646
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    Quote Originally Posted by stryker View Post
    no idea on it.. I think possibly not.. but u can take a print shot and can redo on other computer and save it.. I tried doing it but using the saved bookmarks and cookies but it dodn't work.. but again i'm no computer genius so i don't know.. I simply save screen shots and redo on other pc...

    GL..
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    Forex Charts | Currency Charts

    Attachment 113706

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    Last edited by MysticMegatron; 02-16-2012 at 10:28 AM. Reason: added screenshot
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  12. #70647
    Miss Pips's Avatar
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    Dimake, with time older posts may become irrelevant.

  13. #70648
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    Miss Pips here a 2H chart in respons to your request, like Banison said it's likely to see a hit around 1.3095


    GBP and JPY Pairs-eu2h.jpg
    Thank you Stryker
    Thank you Cody
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  14. #70649
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    Quote Originally Posted by Paul Chin View Post
    Other than guts and my indi, I do have reasons to believe that there will be more significant upmove than what we are seeing now prior to any significant downmove.

    EURUSD is a very volatile pair, compared to any others. What is happening since yesterday is too smooth, all the way down.... this is not EURUSD style. But the downtrend is confirmed as of posting, irregardless of any spikes. Good luck!
    I think that this is not a traditional risk asset sell-off. What may be happening is some asset allocation flows from Europe and the US to Japan since their QE, this explains why the US and Euro indices are down and the Nikkei is taking off.
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  15. #70650
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    Quote Originally Posted by Miss Pips View Post
    Any ideas on EUR/USD? It looks like it's pulling up. But the daily candle just doesn't look like it is going to turn green. Is it just going to reach 1.3050 and then bounce back down?
    I have attached a fibonacci grid for you - these are computed from the all time high and low of the EURUSD on an analog basis. The thick orange line at 1.3055 is 61.8% line of the whole range (not retracement line - actual line with 100% being the high at 1.6037). This is a key line in my opinion and what the recent ranging has all been about. If this is taken out again to the upside with some passion, I would aim for the next intermediate at 1.3221 or the next one up at 1.3324. Ultimately, me thinks higher but my target is 1.3279 to hit my weekly target.

    Depends on your time frame of course. Banison's is for this first drive up but there will be a retracement and at least another pull. I think there will be many!!
    รูปขนาดเล็ก รูปขนาดเล็ก GBP and JPY Pairs-drt.jpg  

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