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Thread: Elliot Wave Trading

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#517 (permalink)

09-12-2007, 09:52 AM

italm31

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Join Date: Jul 2007

Posts: 1,592

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Quote:

Originally Posted by italm31

Guys something very weird is going on. The eur/jpy is making new highs while the GBP/JPY is making new lows. Often, thats a common trait of a top.

Possible top in the Eur/JPY. We have 5 waves up fromt he low of 155.14 (see 4 hour chart). The fifth wave of the 5 wave rally also just completed 5 waves.(see 5 min chart). Also the strenth in the Euro/JPY was not replicated by the GBP/JPY (indications of a top). Expect at leat a short trem decline to 157.79 (wave 4 of the larger 5 wave rally.

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