Usd/Yen
Well , Well , Well-----
Hmmm?.....What's going on here ?....http://www.learncurrencytrading.com/fxforum/images/smilies/wink.gif
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I have a different subcount on this pair - it might be helpful:Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12437&stc=1&thumb=1&d=1205401186
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Jamie, question please.
I think this should complete the entire rally from 1.3360 right? But wave 1 and 3 were somewhat equal what if wave 5 is extended? Wave 5 now from 1.4439 exceeds 900 and well exceeds 1000 pips so this could be extended to 1.60+ ?
My short term count does not agree, and the overbought/ divergence indicators as well but it remains a possibility.
Wave 1 was 922 pips and 3 950 pips and now this wave exceeded both very well 1186 so far.. What is your comment on this specific point? http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
On the short term 1hr structure from 1.4439 (big wave 5) looks close to complete 5 from 5. So I am pretty much confused
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This is my daily count and has been for months now (it has been shown somewhere on this forum...probably a ways back). Anyway, the EURUSD is close to the end of wave 3 of III. The thrust from the iv of 3 of III triangle tells us that wave 4 of III will probably come back to the middle of the triangle....near 1.4650. Then wave 5 of III will complete wave III. In other words, there will be plenty of opportunity on both sides..long and short...with short being the next opportunity.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12441&stc=1&d=1205419547
RE: USDJPY
Here is the situation, the way I see it.
The pair should correct to the area indicated by the greenish/yellow hand drawn circle, which is the former wave iv of lesser degree.
Then it should move lower.
How low? Probably the length of wave 1, since wave 3 was extended.
It might be quite interesting, because what I just said is that wave 5 might be truncated in this case??? We will have to wait and see.
In any case, i will go short once we'll reach the end of wave C.
MikeAttached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12443&stc=1&thumb=1&d=1205421971
Eur Jpy
Hi guys
I am going short EURJPY.
Reasoning:
1. Correction pretty much done.
2. We are at 50% Fib
3. We are in wave 4 of lesser degree territory
4. Leg A equal to leg C
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Cable breaking through support
I know that we didn't quite reach the intended target for cable, but it is breaking through support now.
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usdjpy
I think we have not seen wave 5 yet. expecting one more low for wave 5 to occur. potential reversal will be the area b/w the 38.3% and 50% fib level and the resistance line
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Usdcad
Remember this from post 2577 a few months ago....?? Looks like it's playing out ... Got my eyes peeled for a buy opportunity coming up in USDCAD.....
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Jamie
Jamie, regarding your daily EurUsd count - providing that there is nothing extraordinary in the corrective leg before the one you start counting, the count looks straightforward. However, I have started counting the whole existing chart -from 1980 - and I came to a different count. Would you please comment it? Thank you
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GBPUSD looks to me like it has reached its highest signifiacnt peak few hours ago.
Rationale:
1. It broke through the 1st support by least square method
2. It broke through the 2nd support by maximum method
3. It is below exponential average, 10 periods
4. it is entering into bear territory indicated between two Bollinger Bands, 1 and 2 standard deviation.
5. MACD is definitely pointing south.
I will go short with small position.
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Eur/gbp
It looks like there is still a little potential left in the rally that began back in July. According to my count, there will be one more small decline and one final rally before the entire wave three rally is finally completed.
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Hey Brad!
I saw your loonie count and it helped me a lot by clearing out what was happening lately. However, I think that the impulse structure of waves 1 and 3 speak of a leading rather than ending diagonal. Since the current leg looks like a corrective one, it can either be the 5th or a subwave within the 4th - my scenario. So I would prefer entering short when I see wave 4 completion. Good luck!Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12466&stc=1&thumb=1&d=1205478671
Cable outlook
Hey guys!
I think that cable is currently in the first leg of a correction within wave 2, having already completed a leading diagonal as wave 1. Here is my count on the cable:
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Usd/jpy
Hey guys,
It seems like everybody here is waiting for some sort of substantial retracement in USD/JPY before getting short. But if you look at where price is in the big picture, there may not be any major retracements. We are seeing a move below a major major support line and below the psychological 100 level. Plus, on the monthly chart, we are seeing price in the beginning of a 'trending move.' There hasn't been a move in the direction of the major trend for many many years. On the shorter term charts, price is in a 3 of 3 of 3 move, so things should pick up here soon. It's possible that for a few days or so, the only retracement we'll see are just minor consolidation periods.
Of course though, now that I've said that we will probably have a huge retracement that will stop me out, but I don't think so at this point.
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Gbp/Usd
Chart Update ..........
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Eur/Usd
These is the Update Wave-count ..........http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
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lovelyforex,
I hope justy doesn't mind me answering that question http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
I believe eurgbp is in wave (v) of 5 as you can see on daylies. But if we go to 4h and see the internal stucture of that wave (v) so far I see five overlapping waves which means :
A. wave (v) could be enlongated with a third wave extention
or B. ending diagonal
Either way it's close to a top but not before we see a push higher. Another thing to keep in mind is that 0.7733 is where wave 5 on daily would be equal to wave 1. So that might be a potential reversal point.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12467&stc=1&d=1205484539 http://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12468&stc=1&d=1205484550
Cable.......on it's way up
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Same picture in euro......making new highs
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Usd/Yen
Talk about a Nose Dive .......http://www.learncurrencytrading.com/fxforum/images/smilies/frown.gif ! Just look at this mess ........
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This is all because the Fed keeps doing rate cuts......
Let's see if they do it again this week when they meet .
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