Thread: GBP and JPY Pairs H1 2013

Just sharing a view of EURUSD using 4h chart. Note that this is not a trade recommendation. Each square is 50 pips and are profitable both ways, and vice versa, depending on your stop loss, of course.

Using a combination of volume information, as well as trying to pick up the rectangle timeframe from Bari, and using my super-duber indies (don't ask me please), determine the A from 3252 to 3869, B from 3869 to 3422, and currently in C from 3422. This view remains valid as long as the rising support trendline (currently at 3524) is not touched. Rectangle suggests that 4051 may be attainable around early Mar 2011 (around 3rd March).

How interesting!

Bari, what do you think of the rectangle?

I try to analysis the charts before reading and looking at the charts that are posted by others and below is what I see. On Friday we had very bullish price action and on most days I would be more likely to go long, but in this case and depending on how the market opens, shorting is probably the way I will play it. The reason is the daily TLs help me to decide on a good area to place my stop.

We will soon see. GL to all.

BTW... I am a top & bottom picker if I see that tight stops can be placed. Also I love trading the channels. When I can get in on the top or the bottom of a trend, it feels great to ride the trend for hundreds of pips.

I feel EUR crosses may rally next week

especially here I'm watching EUR/NZD and perhaps EUR/AUD, which could offer a good buying opportunity

less preferred is EUR/GBP, but still there is upside chance

I'll post some chart soon

for those who traded these crosses, feel free to comment

Originally Posted by Paul Chin

I like the chart. Thanks for sharing. That seems like the direction for next week / month trading. What does the numbers below that chart represent?...

A version of T&S (Time and Sales). It's a list of trades that have gone through. Round numbers highlight to green, i.e. 1.3690 is green. Consider it a ticker-tape.

The chart I posted earlier shows the TL resistance between 3745-3785 and Capital Management just posted a chart that provides the same levels in their EW analysis. TL and EW converging.

Chart found at Capital Management: Latest

Originally Posted by JimboFX

It's not my chart. Besides you can't go that long way back on the euro unless you use DEM/USD as reference.


On the side note funny you mentioned the crazy PA in S&P500. If t3t4 is kind enough to post a link to that video of Jeff Bridges as President Obama in case you haven't seen it then you might have to re-think. Although ironic but true is the fact that FED's printing as much $$$ as they need for as long as it takes to keep the stock market running. Sadly for us witnesing our hard earned $$$ devaluate over time as a result of that.

Well now, maybe I'm not standing alone after-all. This is where I'm coming from as well, too much smoke hiding only one mirror. My concern is that once the truth finally hits the airways, this mirror of history will become a stinky wet fish smacking people across the forehead.

Here's the link you requested: Video Clips: Steve Bridges as "President Barack Obama" - Promo Jan 2010

Ya know, with the ever increasing national debt, the constant money printing which is devaluing the USD, the ever increasing interest rates (currently) along with cost of living, and the stand still in the job market, I mean, come on already..... What's on the other side of this equals sign? Even a 5th grader can do the math!

If some want to disagree, that's fine by me. But then, I won't be the only one smokin crack .....

Happy Trading,

t3t4

Looking to enter short on a little more movement up. IMO Eqts may have a strong pullback causing the USD to surge strong. Rising wedge and fib resistance level on the Dow and S&P coming up.

YouTube - ‪Huge Bearish Bets on the S&P 500 Index Options 1300 March Puts‬‏
Looks like positions on the bear side started for EQTs also.

Strong surge up after that wedge breakout but will be looking to short at resistance. Spotted that wedge well in advance at the pivot bounce but should of payed more attention to it, as a result a $5,000 profit turns into $100 profit LOL. Overall we'll see how it plays.

P.S. TAFool, again, Thanks for the PM, greatly appreciate the info.

Originally Posted by FXTA

...any input on this would be appreciated, Its probably wrong but Thanks in advance.

Here is my view:
http://www.tafool.com/Charts/sp500022011.gif

Sent you a PM with some resources

hhhhhhhhhhhhhhhhhhhhhhhhh

Originally Posted by FXTA

Looking to enter short on a little more movement up. IMO Eqts may have a strong pullback causing the USD to surge strong. Rising wedge and fib resistance level on the Dow and S&P coming up.

YouTube - ‪Huge Bearish Bets on the S&P 500 Index Options 1300 March Puts‬‏
Looks like positions on the bear side started for EQTs also.

Strong surge up after that wedge breakout but will be looking to short at resistance. Spotted that wedge well in advance at the pivot bounce but should of payed more attention to it, as a result a $5,000 profit turns into $100 profit LOL. Overall we'll see how it plays.

P.S. TAFool, again, Thanks for the PM, greatly appreciate the info.

All wedges aside, I see the 4hr chart a bit differently and just thought I'd offer an alternative perspective.

It appears to me that your lower trend line serves currently as resistance. I wouldn't put it there only because at that level, the descending wave has yet to reach 50% retracement but it's already beyond 50% extension. In the chart I posted below, you'll see at that level it didn't go 50% which is my requirement for turning points. The daily chart does show the 50% retracement if you zoom out, but the weekly chart shows it at a glance! So the overall mid term trend is very bullish. The short term however, it just looks like a battle to me, but I mentioned last week somewhere around the .3500 area, this is headed to 1.3730 which has not been hit, not yet. I'm guessing you'll see it though at market open today.

Happy Trading,

t3t4

To close rest longs at open. I will lean short with respect to 13720 targeting 13500/450 according to our signal. If however we trade above 13720, we look for way to get long to target 13860.

#EurUsd weekly and daily #EurUsd weekly and daily on Twitpic

Originally Posted by t3t4

I see the 4hr chart a bit differently and just thought I'd offer an alternative perspective.

It all depends on how you look at things. The same 4h chart with one zoomed in and the other zoomed out.

Originally Posted by JimboFX

I don't know what to tell you . It's something I came up across the web and I think is from International Financing Review. How true that information is I can't say. But that's not really important to me right now. What's important to me is that when so many traders betting against euro then the price will continue grinding higher and higher until most become bullish then it will reverse and do the same the other way. It's always been like that and it will always will be.

You guys must have seen the 4H EUR/USD EW count I have been showing for the past couple of days where I have the advance from 1,2858 as wave A. Now let me ask you this - what if that wasn't wave A but wave 1 instead with wave 2 complete at 1.3427. Where that leaves us in terms of wave 3 and then wave 5 for that matter ?
Now go look at the dollar index chart I posted yesterday. If that's a big triangle ( and we know triangles occur in the 4rd waves ) then really the min objective is a new low for the 5th wave. And that's very conservative considering what Jesse has as target.

So really is 1.5 sounds so crazy ? Not to me. Now I don't know if we'll get there next month or next year but I'm pretty sure we'll get there as I believe the dollar would have to finish it's multy decade bearish cycle at some point.

1.500 crazy? Nope. One thing I have learned; anything can happen.