Update - I've moved the stop down.....

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AUDJPY trade was not to be

Stopped on breach of yesterdays low for +45 pips

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NFPs..., *Yeowch*

ok.. new try with the terminal.

i am trying again a halfsized long here with stop at 1,397... quite brave i guess..

edit: hmm got out at -26.. thats -13 whole for a whole position..

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I'm glad I was stopped out of that.....

Heres a new trade I'm in on GBPJPY - I have a longer term count I'll post later but here's the entry looking for a test of a potential neckline (which I think will end up breaking down)

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Guys - be really carefull now - if bearish scenario is going to fall apart this is the right moment

edit:- looks like a false alarm - bears in control

Patryk

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Cmellon... Kind of curious what your delta logic tells you about EURJPY.... I am very confident in the diagonal triangle scenario that I show in the chart below, but something tells me your delta logic likely points down much sooner.... If you have time for a reply, great


EURJPY Daily Chart ------------->

Just ridiculous price action!

GBPJPY Daily Chart ------------------->

GBPUSD price action is out of manuevering room... Price needs to start rising soon if the immediate up trend is to stay intact....

GBPUSD Daily Chart ------------>

Gbp/Usd


End of Wave 4
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Only a Probability ! ................. Not Cast in Stone !

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Here's an update to my gold count, possible wave 4 triangle?

Friendly greetings,
Jeremy

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Hi Brad,

EUR / JPY is not my specialty. I do not have LTD chart with this pair. If I do, that will boost my confidence a lot more.

Having said that, I am pretty confident with this MTD chart I am about to show.

If you look at the chart, let's start with the low of this year at 112 (I put rectangle at the chart). Let's call this MTD 1 low which is also LTD 1 low.

From that low point to the high at 139.2, you could count three MTD highs (MTD 2, MTD 4, and MTD 6). I circle MTD 2, MTD 4, and MTD 6 for you.

The reason I am sure these are MTD points is because you compare the turning points to the previous cycles and that's where they were due approximately. If you look at previous cycle, MTD 2 was due between yellow and green vertical line. MTD 4 was due near green vertical line, and MTD 6 was due slightly before red vertical line.

Delta rule says there could only be a maximum of three series of higher high. In this case, from the low point of 112 (MTD 1), we already have three series of higher highs in MTD 2, MTD 4, and MTD 6. Delta rule says MTD 6 must also be LTD high. In other words, if the low point of 112 is LTD 1, the high point of 139.2 must be LTD 2.

The implication is that since the LTD (a higher TF than MTD) now is travelling down, we will have a series of lower high and lower low in MTD chart.

I posted this GBP / JPY chart earlier before NFP at Geppy forum. This is what I think could be happening. There's a good probability that 160.26 is ITD 6 high since the position is pretty comparable to previous cycles (between red and blue vertical lines).

If MTD is travelling down like I expect, we shall see a series of lower high and lower low in ITD time frame. In other words, ITD 7 would be lower than ITD 5 (lower than 154). Notice ITD 7 in previous cycles were due after blue vertical line. I expect it the same in the current cycle, that's probably due mid or third week of July for ITD 7 low.

Took profit for my 158.8 short position, and move stop loss for my 159.8 short to 1 pip above 160.26.

Good analysis Market....I had a flat correction going on..but your 5 wave truncation looks spot on. Let's see how it plays out in the next trading session.

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Chemistry....It's Elementary!