1.4620 finally gave way .... but no follow through selling .... i have removed my order to add at 1.4585 .... think there might be a better chance to sell at 1.4690 with ECB tomorrow.
USDJPY looks very nice right now for a short down to atleast 79.80 ..... Price is sitting just under what is the last probable trend line that could have provided possible support for price.. I think we're going to start heading down pretty fast, we're breaking out of a long term triangle... I entered short half position today ... I will be adding to shorts below 100.00, The Target is 79.80 --- Just a note for anyone reading... My stop on this trade is wide right now, just be careful in your own money management.. always know your risk before you enter a trade... This trade looks good, we see a lot of downside momentum on the monthly chart and I don't see any signs of a reversal..
USDJPY looks very nice right now for a short down to atleast 79.80 ..... Price is sitting just under what is the last probable trend line that could have provided possible support for price.. I think we're going to start heading down pretty fast, we're breaking out of a long term triangle... I entered short half position today ... I will be adding to shorts below 100.00, The Target is 79.80 --- Just a note for anyone reading... My stop on this trade is wide right now, just be careful in your own money management.. always know your risk before you enter a trade... This trade looks good, we see a lot of downside momentum on the monthly chart and I don't see any signs of a reversal..
I think the target for this B wave from 145 high is 75-78.6% comming in at
96.72-94.28...... but I agree we need to see this .... the big question is what it do before :-)
USDJPY looks very nice right now for a short down to atleast 79.80 ..... Price is sitting just under what is the last probable trend line that could have provided possible support for price.. I think we're going to start heading down pretty fast, we're breaking out of a long term triangle... I entered short half position today ... I will be adding to shorts below 100.00, The Target is 79.80 --- Just a note for anyone reading... My stop on this trade is wide right now, just be careful in your own money management.. always know your risk before you enter a trade... This trade looks good, we see a lot of downside momentum on the monthly chart and I don't see any signs of a reversal..
HI Brad
Nice chart, i agree we should see some big down moves on this pair soon, not really sure whats held it up.....
Anyway i am looking at the dailys and there is a trend line that comes it at 106.20 and i am looking sell the break for move to 105 and lower!!
I am really begining to like your long term stuff!!
its unofficial intervention by the MOF
they said they woud 'not let the nikkei slide'
and have persuaded large pension funds to buy worthless equities
as well as usdjpy so support sentiment.... not sure how official
intervention applies to EW though....
The last hour has made me update my EURUSD count. I still think that we are in a triangle...in fact, I am more confident now about this than I have been in the past. Wave E from 1.4950 is unfolding as a zigzag and will be complete in the next few days....if not tomorrow. (the labels should be A-B-C not W-X-Y...sorry for the confusion)
A bottom could be as low as 1.4415 near the triangle line....but the main point here is that I think we are very close to a bottom.
Last edited by Jamie Saettele; 02-07-2008 at 09:29 AM.
The last hour has made me update my EURUSD count. I still think that we are in a triangle...in fact, I am more confident now about this than I have been in the past. Wave E from 1.4950 is unfolding as a zigzag and will be complete in the next few days....if not tomorrow. (the labels should be A-B-C not W-X-Y...sorry for the confusion)
A bottom could be as low as 1.4415 near the triangle line....but the main point here is that I think we are very close to a bottom.
Hi Jamie,
what is your trade strategi if this enario is correct ?
This is an update of the cart I put up yesterday. Bear stance tells me to expect a retrace soon as we have 5 wave down. The only way I would embrace Jamie's triangle count would be if we made 7 waves then a retrace since triangles are made with corrective waves.
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Usdjpy
Originally Posted by brad_1199 
