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Thread: GBP and JPY Pairs

  1. #73621
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    Quote Originally Posted by AV1 View Post
    What you think of only went up there to test 1.3180 resistance and back down???
    I am putting another short under (2) in my chart which could possibly be a 'b' wave. It is really early in the MyWave counts but my gut (and I know certain members wish I wouldn't!) tells me to plant shorts under pull backs rather than push longs here. If there is a push down to the low, I'll bank as close as I can and re-assess there. I'll not go long up here without a retest of the low from yesterday, foolish as I might be.

  2. #73622
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    I think the 9.950 is a key price in the further of euro evolution ..... if DX will break out and remain above 9.950 then we'll see 1.3125 acting like a resistance with a prim target at 1.3060


    Here's a 4H DX chart

    GBP and JPY Pairs-dx4h.jpg
    Alejandro Zambrano likes this.
    Thank you Stryker
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  3. #73623
    Alejandro Zambrano's Avatar
    Alejandro Zambrano is offline DailyFX Analyst and Forum Moderator
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    EUR/USD April 24 - 2012


    As expected priced reversed from the 1.31 level in the later parts of the yesterday’s London session. Price is now 80 pips higher and the short term trend is bullish.

    From a pure trend following stance price should increase to 1.3225 which is Friday’s high as long as we trade above 1.3145 which is an overnight low.

    I am however a bit cautious and would consider taking profit at current levels or 1.32 if long since yesterday as this bullish trend looks a bit fragile, going long on a new test of 1.31 or maybe 1.3145 looks like a better option.

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  4. #73624
    ericwong is offline Member
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    Hello, I am a newbie. Based on the reports that I have read, I shorted the Euro. But who is pushing it higher! Just can't believe it!

  5. #73625
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    Alejandro Zambrano is offline DailyFX Analyst and Forum Moderator
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    Nice to see so many post this morning. Thank you for sharing!

  6. #73626
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    Quote Originally Posted by ericwong View Post
    Hello, I am a newbie. Based on the reports that I have read, I shorted the Euro. But who is pushing it higher! Just can't believe it!
    The price swings a lot even tough the trend might pointing up or down. We can easily trade close to 1.3225 or 1.31 within the next 12 hours. What type of reports have you read? If you are reading bank reports they tend to be very long term i.e. 3 months in the future so you need to give the setup some time to develop.

  7. #73627
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    Quote Originally Posted by ericwong View Post
    Hello, I am a newbie. Based on the reports that I have read, I shorted the Euro. But who is pushing it higher! Just can't believe it!
    Hi Eric,

    probably those who wrote the report push the price higher - EU banks keep selling every asset they have abroad - as long as this procces keeps going on the EU will find a bid - US open will probably bring a very familiar liftoff - OTOH should it not happen this could suggest the well is drying.

    Patryk

  8. #73628
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    EURUSD

    Here are my shorter term EW counts for EURUSD & US dollar.

    I think my conjecture over a triple corrective combination (EURUSD) is still valid but it counts already as a possible 4th in the Z wave. May not be of course. Whether it is a retracement wave 2 in an impulse sequence instead, the move up is lame thus far.

    In the USD, I have a descending triangle playing out the latter parts of the C wave in the 5th. Bit more to go but I do not see a throw over here to the downside in these counts, which mirrors the timid rise in the EURUSD.

    All in all, I'd have to say that the bigger move will be to the downside as we suspected all along and that this 'catch em out' combo is doing little to scare anyone. Keeping me on my toes, to say the least.

    I am now hunting for an ending pattern in this move up whilst holding that short below yesterday's low and the Asian market low. I am not going long anywhere unless something changes such as yesterday's low holding a test, to be clear.
    รูปขนาดเล็ก รูปขนาดเล็ก GBP and JPY Pairs-eurusd-30min-apr-24-0955-am-30-min-.jpg  

    GBP and JPY Pairs-usdollar-30min-apr-24-0958-am-30-min-.jpg  

    Last edited by Clivewaverider; 04-24-2012 at 05:21 AM.

  9. #73629
    AV1
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    Could be a thrust here to 1.3200 or Daily R1.

    GBP and JPY Pairs-15min.jpg

  10. #73630
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    Quote Originally Posted by AV1 View Post
    Could be a thrust here to 1.3200 or Daily R1.

    Click image for larger version. 

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    I hope so - be great to trade some clarity for a change near the top of a triple or wave 2 - both sound great to me, either way.

  11. #73631
    AV1
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    Quote Originally Posted by Clivewaverider View Post
    I hope so - be great to trade some clarity for a change near the top of a triple or wave 2 - both sound great to me, either way.
    It could higher especially the way you labeled in five waves, only to satisfy Paul's GAP and Stryker's level and we are all happy than. Isn't that beautiful?

  12. #73632
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    EURUSD

    All of us happy and in consensus? Are you mad? Would be something to have us all make money at same time. Champagne on Paul??

    Anyhow, I can not make this chart any better visually. It is on a 60 min time bar to keep the storyboard sharp and does not like being reduced for sharing here.

    The pink channels are the live regression channels and the blue ones, the dead ones.

    We are right in the middle of two channels - one from either the bottom of 4 (1.3034) or it is a 5th, with the subsequent low at 1.2994 being an expanded flat B wave - and the second from the latter. Both are up and yesterday's low merely tagged the median line for the whole move down from 1.3485. Both the 240 min MA band (coloured gold) and the 2 day band (white and pink lines) are crossed up and confirmed by yesterday's test. There is plenty of room to the upside for price action to grow.

    Given the counts I am seeing (from earlier post), I am ignoring this for the moment but am keeping an eye on these channels in combination with that weekly chart I did yesterday on the 42week cycle. A cheeky long above that 1.3183 high this morning might not be a bad entry at all with a tight stop. Decisions, decisions.
    รูปขนาดเล็ก รูปขนาดเล็ก GBP and JPY Pairs-reg.jpg  

    Last edited by Clivewaverider; 04-24-2012 at 05:50 AM.

  13. #73633
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    Quote Originally Posted by AV1 View Post
    It could higher especially the way you labeled in five waves, only to satisfy Paul's GAP and Stryker's level and we are all happy than. Isn't that beautiful?
    My short term moms are starting to get into the target zone without price or MA band decay - bullish above 1.3183 looking on for your spike up.
    รูปขนาดเล็ก รูปขนาดเล็ก GBP and JPY Pairs-dert.jpg  


  14. #73634
    rcopadilla is online now Member
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    a 2Hour chart

    While it is appropriate to consider various alternatives before coming to a decisions, sometimes that can lead to paralysis by analysis.
    A quick look at the recent swings of the price between the2 Hour Bollinger20 bands show a lack of a retest of a band (the price has been swinging to the other band without retagging the original band beforehand). That tendency will likely continue. The current situation is looking for a tag of the upper band before any tag of the lower. No retest. As long as the price is trading above the Boll20 midline, the upper band tag should happen first. If the prices starts trading below the midline, that should be sufficient warning to make an adjustment.
    Clivewaverider likes this.

  15. #73635
    ericwong is offline Member
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    Thanks so much for your reply. I have been reading DailyFX reports and analysis by David, Kicklighter and Joel. Since they are all bearish I just shorted.

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