GBP/JPY - Page 2

wan0903 · #16 (**permalink**) 08-19-2009, 10:08 PM

Quote:

Originally Posted by cool_fx

hey thats all we do :=) Share and discusss. everyones ideas all together will result in one running theory with which we all can benifit. keep up the good work. thanks.

PS: can u advise me how to make charts and post here. i use Market scope and metatrader. i also hve a VT demo account as it is good for charting stuff. how to make it ina pic and upload stuff?

hye cool..

1. press prntscreen on ur chart.
2. paste it on 'paint'
3. save with jpeg format

then upload it in your posting by insert it on 'manage attachement' button

please save ur chart in jpeg. don't use .bmp bcoz it quite big size to upload.

** price quite volatile right now.. im keeping my short with tight stop at 157.00.. will move if price going lower..

cool_fx · #17 (**permalink**) 08-19-2009, 10:24 PM

okie guys, here's my chart. its very very basic as i was testing how to upload stuff. its frm my VT demo account. i use FXCM but VT platform is really good so i use that for chart analysis.

let me know how is EW count is.

wan0903 · #18 (**permalink**) 08-19-2009, 10:37 PM

Quote:

Originally Posted by cool_fx

okie guys, here's my chart. its very very basic as i was testing how to upload stuff. its frm my VT demo account. i use FXCM but VT platform is really good so i use that for chart analysis.

let me know how is EW count is.

hye cool...

nice chart..

, anyway.. it is just my amateur opinion.. i think ur EW count have a violation on basic rules of EW which is wave 3 should the longest wave among the others..

what can i see in ur EW, wave 3 and wave 1 more or less like in the same wavelenght.. anyway.. like i said.. atleast it give amateur like us a direction..

anyway.. my 3 principle as a basic EW is :

1. no violation in wave 2 (can't break 100 % fibo retracement,) usually if price bounce from 61.8 fibo..then it will make wave 3
2. Wave 3 is the longest wave
3. no violation in wave 4 (can't break 100% or 61.8 fibo), usually if price bounce from 38.2, then it will make wave 5..

it just an opinion..

.. hpe u understand what im trying to say.

cool_fx · #19 (**permalink**) 08-19-2009, 10:41 PM

Quote:

Originally Posted by wan0903

hye cool...

nice chart..

, anyway.. it is just my amateur opinion.. i think ur EW count have a violation on basic rules of EW which is wave 3 should the longest wave among the others..

what can i see in ur EW, wave 3 and wave 1 more or less like in the same wavelenght.. anyway.. like i said.. atleast it give amateur like us a direction..

anyway.. my 3 principle as a basic EW is :

1. no violation in wave 2 (can't break 100 % fibo retracement,) usually if price bounce from 61.8 fibo..then it will make wave 3
2. Wave 3 is the longest wave
3. no violation in wave 4 (can't break 100% or 61.8 fibo), usually if price bounce from 38.2, then it will make wave 5..

it just an opinion..

.. hpe u understand what im trying to say.

hey thanks for the points. yep i understand what you are saying. i did this chart in 1 min to test whether its uploading or not

hey but when i did these waves

the wave 1- 163 --- 156.10 tats like 700 pips

then wave 3 was 160.40 to 153.50 that was 700 pips.

i was thinking the rule basically means "Wave 3 cannot be shortest of all. it cud be same size but never the shortest among 1-3-5". again i vaguely remember it. so u cud be right.

thanks for the points. i will use ur 3 points them for cross verification. :-)

wan0903 · #20 (**permalink**) 08-19-2009, 10:44 PM

cool..

one more thing... try to use Fibo Expansion... it is give ur an idea where market will go if ur EW count from wave 1 to wave 2 is valid.

very nice indicator..

there will be 3 line.. 1st put it on beginning wave 1, line 2 ending of wave 1 and third put it on where price bouncing in making wave 3 (or ending wave 2)..

then u will see 3 line which is FE 61.8, FE 100 and FE 161.8.. FE 61.8 and FE 100 usually quite easy to reach.. FE 161.8 is the last to arrive (usually end of wave 3)...

just try it..

Mike in Japan · #21 (**permalink**) 08-19-2009, 10:50 PM

Quote:

Originally Posted by cool_fx

hey mike.r u presently trading anything?

im long frm 154 area to target 156.30 the sloping downtrend line. and then planning to go short from there.

Hey Cool...

Yup, I'm holding short from 158.10 from August 14th.. I would have thought by today we would have seen a price of about 154.00 or lower.. That hasn't happened, so I'm wondering if 153.70 is going to be a short term low. Fundies are getting a bit thin now, with only Retail Sale figures (UK) being released today.. after that, I can't see this developing any further lows.. BOE date didn't dent this pair too much, so as time goes on, we may be going back to risk appetite.. I 'm keeping my shorts until the UK data is released, and will evaluate the situation again..

No news from the administrator

- it looks like the old thread and posts have all been deleted..

Mike in Japan · #22 (**permalink**) 08-19-2009, 10:54 PM

Quote:

Originally Posted by Xiao

OH God what is happening huh?

Just BEAT ,, Like Micheal Jackson Song.. Beat it Beat it...

And just say to them they are s**** Because they Remove the Old Gbp/jpy roomAttachment 35546

If I say that, I'll get banned.. Yikes!!

wan0903 · #23 (**permalink**) 08-19-2009, 10:58 PM

hye cool...

this is my current EW count... if u can see.. i put FE in my chart as a target, as long as current wave 1 and wave 2 is valid.

Then refer to my blue trendline.. which is new high (156.12) is lower than previous high (157.52).. so im expecting new low (?) is lower than previous low (154.14).. this is also a basic indicator to share and it is valid as long as price not broken the tendline.

cool_fx · #24 (**permalink**) 08-19-2009, 11:03 PM

Quote:

Originally Posted by wan0903

cool..

one more thing... try to use Fibo Expansion... it is give ur an idea where market will go if ur EW count from wave 1 to wave 2 is valid.

very nice indicator..

there will be 3 line.. 1st put it on beginning wave 1, line 2 ending of wave 1 and third put it on where price bouncing in making wave 3 (or ending wave 2)..

then u will see 3 line which is FE 61.8, FE 100 and FE 161.8.. FE 61.8 and FE 100 usually quite easy to reach.. FE 161.8 is the last to arrive (usually end of wave 3)...

just try it..

hey im gonna upload it now. see if i did it right. wow it looks pretty awesome. i just hope i did it right.

cool_fx · #25 (**permalink**) 08-19-2009, 11:09 PM

Quote:

Originally Posted by wan0903

hye cool...

this is my current EW count... if u can see.. i put FE in my chart as a target, as long as current wave 1 and wave 2 is valid.

Then refer to my blue trendline.. which is new high (156.12) is lower than previous high (157.52).. so im expecting new low (?) is lower than previous low (154.14).. this is also a basic indicator to share and it is valid as long as price not broken the tendline.

hey ignore my chart. i didnt read the instructions bfore. so the above chart is wrong.

wow i never tried FE bfore. i always used F retracements. its kind of cool man. thx a lot. i will try it now on all my analysises :-)

wan0903 · #26 (**permalink**) 08-19-2009, 11:11 PM

Quote:

Originally Posted by cool_fx

hey im gonna upload it now. see if i did it right. wow it looks pretty awesome. i just hope i did it right.

hye cool...

for me.. it is right if ur wave 2 is confirm.. use fibo retracement in order to give ur an idea either ur wave 2 is valid or not as ur count is in upward direction.. if u refer my chart.. im counting on opposite direction..

.. anyway.. we will see for the next couple of hour what market will do..

wan0903 · #27 (**permalink**) 08-19-2009, 11:16 PM

Quote:

Originally Posted by cool_fx

hey ignore my chart. i didnt read the instructions bfore. so the above chart is wrong.

wow i never tried FE bfore. i always used F retracements. its kind of cool man. thx a lot. i will try it now on all my analysises :-)

cool man...

there are also another indicator which is Fibo Fan... it will give u an idea when market doing wave 4,5, A,B and C... where exactly market will go with Fibo Fan.. but this indicator u need confirm wave 3 first.. then i will show u how it function...

cool_fx · #28 (**permalink**) 08-19-2009, 11:18 PM

Quote:

Originally Posted by wan0903

hye cool...

for me.. it is right if ur wave 2 is confirm.. use fibo retracement in order to give ur an idea either ur wave 2 is valid or not as ur count is in upward direction.. if u refer my chart.. im counting on opposite direction..

.. anyway.. we will see for the next couple of hour what market will do..

lol does it really matter (in joking way). im SHORT as well. ha ha. my target is 154.35. hoping to make my 60 pips and done for the day :-)

wan0903 · #29 (**permalink**) 08-19-2009, 11:26 PM

Quote:

Originally Posted by cool_fx

lol does it really matter (in joking way). im SHORT as well. ha ha. my target is 154.35. hoping to make my 60 pips and done for the day :-)

haha...im also in short position and target around ur figure (FE 61.8 at 154.02).. hopefully it will go to that b4 this afternoon uk retail number..

happy trading

cool_fx · #30 (**permalink**) 08-19-2009, 11:35 PM

Okie , WAN ... if we go by your 1-2-3-4-5 downward theory. i made this EW chart and combined the Fib Retracements and Fib Expansions and Downward sloping line.

lemme know what you think?