Eurjpy Monthly
I saw this count posted here by someone a little while ago... The shorter term price movements are really making me re-think my longer term outlook for a rise in price to continue... It looks like if it continues to fall it will penetrate the multi year low at 88.87 in a wave 5.
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Eurcad Monthly Wave 3 Of 3
EURCAD has punched through a downtrend line from 1999. Looks like wave 3 of 3 heading skyward from here....
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Usd/jpy
Here's my short term count for the USD/JPY. Price is in a third of a third of a third wave. The 161.8% fibo extension for the move that began with the decline from 114.65 gives us an initial target down at 92.91. Once we reach that target area I'll be looking for a consolidation period that retraces a few hundred points before we see price head lower once again.
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cable:
fellew traders,,
have a look on the monthly chart candlestick, its shouting loud i am heading north, so take caution..
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Hi Ray,
Yeah we are feeling some heat on this one. I'm still bullish as long as price is above 0.9147, which is the 09 March low. The major trend is still up and one more high is required to complete the five wave rally from the 21 Jan low.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12497&stc=1&d=1205721812
I actually see a little more strength in EUR/GBP. I'm counting the rally that began at 0.7390 (27 Jan) as the final actionary wave. Within that wave sequence, wave three is extending. Waves i and ii of 3 were nearly equal at 176 and 177 points. Therefore, we should see wave 'v' of 3 extend, which it did. My target for that wav 'v' is the 161.8% fibo of the total distance of waves i thru iii, which is just around the corner at 0.8061. Once that happens I'm looking for some consolidation for a few days and then one final push higher.
The FED cut rates another 25bp today and JP Morgan is buying Bear Stearns for $2 a share in order to keep Bear from going under due to their losses in subprime nonsense. So here comes 'Credit Crisis; round two."Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12498&stc=1&d=1205722883
GBP/JPY among the yen pairs is the most clear to me. Is anyone else thinks the bottom is near ? I'd like to see a good bounce of 1.62 extention (somewhere around 190 area) by the way to confirm my point of view.
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Hi Chakow,
I see the same as you.....but I start now to learning Elliott....Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12501&stc=1&thumb=1&d=1205760106
Ray,
I am seeing 5 waves down now. support for now might be at march 11 low ie 0.9150. this might be a wave 1 down or wave c developing. if price penetrates the region of wave 1 at 9100, then i will turn bearish for aussie. for now I am treating it as wave c.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12502&stc=1&d=1205762280
ausie
like i said ealier, I am treating the five wave move down as wave C of wave 4. a penetration of the support line at .9100 as well as the penetration of the 61.8% line in the fib fan will turn me bearish.
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On a second thought there might be an alternative count which suggests the recent drop is wave c of (iv). A break of 1.9970 is needed to confirm the original count.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12506&stc=1&d=1205768559
Gbpjpy Monthly....
I have posted a previous count for the GBPJPY monthly chart a while back with a different count but with the same outcome for a decline to a new multi year low.. I believe this is how it should be labeled correctly... Just thought I would post this for all who have interest in this pair http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
I am off to the beach http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
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Hi Chakow,
Here's the count I'm following in USD/JPY. Price is correcting in wave four right now. The short term wave structure of the correction itself doesn't really matter. The overall trend is clearly down and the pattern is clearly indicating that another drop is due.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12513&stc=1&d=1205784047
Eurusd Monthly Chart
Well I'm back with another chart, this time it's EURUSD Monthly... I think I'll be staying away from this one until I see a clear 5 wave decline and a 3 wave pullback on a shorter time frame... As it stands I believe this pair is over extended and due for major correction, probably back into the area I have labeled as prior resistance on the chart before a major wave 3 up gets under way...
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Eurusd Weekly Chart
Here's a possibility on the EURUSD Weekly chart..... I feel we are nearing a major top in this pair that will last atleast a few years... Just keep your eyes peeled for 5 waves down and 3 waves up on the shorter time frames, that will be my que for a short position http://www.learncurrencytrading.com/fxforum/images/smilies/wink.gif Just be careful though, please don't read this and hop into a short position right off the bat.. I lost money already trying to call the top in this pair... The market will tell you when it's time to go short... 5 waves down and 3 waves back on the shorter time frames.... http://www.learncurrencytrading.com/fxforum/images/smilies/wink.gif
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Usd/Yen
Wave-Count ,
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US Stock market managed to close up 20 points after all the carnage.
- this should give a ray of hope for the Aisian Stock sessions tonight
and in turn may help Prop-up the US Dollar
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Anything that's good for the US Dollar , should be good for the US/Yen pair
( the two seem to be joined at the hip theses days ) .......http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
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Usd/Yen
TODAY'S Short-Term UPDATE :...................http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
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Yesterday - to - Today.........
- Price action appears to be moving towards an End of Wave 3 High.
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Original Post : Post # 4919
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Only a Probability !............ Not Cast in Stone!........
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Eurusd
We have yet to close the week, but the price action this week looks to be rejecting the highs... Looks like it's creating a shooting star on the Weekly chart... The close of this week could verify a top if price closes leaving a shooting star on the chart.
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Gbp Jpy
Hi Guys
There might be a nice opportunity developing in GBPJPY.
On the chart it appears that GBPJPY will finish wave 4 correction quite soon, after which it should drop nicely by a large distance, like hundreds of pips to the level below 190.
Risk is probably limited. I will put my stop just few pips above 203.
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