GBP/JPY

[dmedin]

Is this about to go up another leg?

[dmedin]

Hourly chart paints the opposite picture

[Caseynotes]

6 minutes ago, dmedin said:

Hourly chart paints the opposite picture

...  but on the M30 ...

134.69 looks to have been retested and rejected so one would assume a retest of 133.48 was next on the cards or at least a check to find support?

[dmedin]

1 hour ago, Caseynotes said:

...  but on the M30 ...

134.69 looks to have been retested and rejected so one would assume a retest of 133.48 was next on the cards or at least a check to find support?

 

 

If it looks like a long on 4 hours and a short on 1hr or 30 mins then that's confusing

 

[Caseynotes]

10 minutes ago, dmedin said:

 

 

If it looks like a long on 4 hours and a short on 1hr or 30 mins then that's confusing

 

here's the the full range;

[dmedin]

18 minutes ago, Caseynotes said:

here's the the full range;

 

Wait for a test of the trendline on hourly right? 

Or a test of the trendline as a support on 4 hours.  🤔

[Caseynotes]

12 minutes ago, dmedin said:

 

Wait for a test of the trendline on hourly right? 

Or a test of the trendline as a support on 4 hours.  🤔

... or wait for the BoE rate decision and mon pol statement on Thursday?  😓

[JJP]

So, it went up first:

[JJP]

But, I'm staying out as I traded the Elliot Wave from September 2019, and now I think it lacks direction. I feel like it is thrashing around because of the Covid-19 repercussions and waiting for a Brexit answer before setting off on a new trend.

[Caseynotes]

[dmedin]

3 hours ago, JJP said:

traded the Elliot Wave

Still amazes me how some people find that useful.  I have tried to understand it and it just confuses me and makes me want to give up.

[dmedin]

When you get beyond the basic 5-3 stuff and into flat, zig zag, complex, double corrections and all the exceptions and irregularities and the four types of triangle and the extended waves within extended waves ... lol

[dmedin]

On the four hour chart at least, you could have bought after it moved up near the 200 SMA line and made some money but it pooped out now.

[dmedin]

Apropos:

[Caseynotes]

9 hours ago, Caseynotes said:

[dmedin]

**** the bed big-time.  Looking to sell a rally 😲

[dmedin]

There it goes ...

[JJP]

On 16/06/2020 at 13:08, dmedin said:

Still amazes me how some people find that useful.  I have tried to understand it and it just confuses me and makes me want to give up.

Sorry for not being on the forum in a while. I tried it in October / November... just a simple question, could you use a 0-1, 1-2 wave movement to predict a 2-3, 3-4 and 4-5 wave movement. I used Fib numbers to predict the last 3 waves once the first two were formed.  I made a very small long in October after the first up day of wave 3. I can't be bothered to calculate all those bats and butterflies and flying donkeys or whatever. I think it was simply luck that this followed the plot I had made. You can see that from time to time it deviates. I have not traded Elliot waves since.

[dmedin]

🐮

[dmedin]

Well, that pooped out completely.

FX is difficult.  GBP especially so.   

[dmedin]

Should have bought earlier anyway, at that point looking for a 2:1 (or the one even earlier) 🤔

Edited July 8, 2020 by dmedin

[dmedin]

The earlier one (which would still be open weeks later) 🥴