Elliott Wave Training

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Showing posts with label EUR/JPY. Show all posts
Showing posts with label EUR/JPY. Show all posts

Friday, November 1, 2013

Before & After EURJPY

Another move that members caught.

We knew where we were wrong, the result speaks for itself.





Still think we are not worth $30 a month??

Sunday, April 14, 2013

Elliott Wave Analysis of EURJPY

If you look at the EURNZD idea i posted below, you can see the potential for an ending diagonal reversal, I thought i would show you an example of what happens with a low is in place and a strong reversal is seen from an ending diagonal

As the EURJPY pair pushed into wave [5] of C you can see the aggressive reversal as the market has compressed to a point where the sellers are exhausted and the market has nowhere to go but up (thats the wedge shape)

I strongly suspect the same on EURNZD, and a similar result should be seen, so looking forward this year i think EURNZD could be a setup much like EURJPY was last year.

Incidentally EURJPY has a 5 wave advance, so at minimum a 3 wave decline that could take it back to the 110-112 area is likely, which i suspect will align with a serious of "risk off" events across the globe



Saturday, January 26, 2013

Elliott Wave Analysis of USDJPY, EURJPY, GBPJPY

This latest advance has seen a strong upside move and literally run over anyone that dared short these JPY pairs.

When i look closer i can see an obvious theme with these 3 crosses, although i only provide analysis on 2 of the 3 crosses they all appear to be suggesting the same message




Currently i think that the are pulling back in a small 4th wave, and expecting a bit of early weakness next week but then move higher in a 5th wave

So for the aggressive trader, i think there is a trade for both bull and bear, the bulls will want to look to buy into weakness, as i suspect a 5th wave to come in all 3 pairs, still could be another 200 pips to the upside in all 3 pairs

Once we see a 5 wave advance, then the bulls need to be getting out and taking the $$$, that's when the bears will likely have their chance to push the JPY crosses lower

With some important wave structure at daily level being suggested on USDJPY and EURJPY, the best part of the rally IMO has likely been seen

Now we can see a pullback that will probably be around 300-400 pips shortly, but 1st we want to see these 3 crosses complete a smaller 5 wave advance as shown


Thursday, September 6, 2012

Elliott Wave Analysis of EUR/JPY





A follow up from the last posting on EURJPY

http://wavepatterntraders.blogspot.com/2012/08/elliott-wave-analysis-of-eurjpy_30.html

This appears to have confirmed my earlier thoughts and moving in on the original target around 100.00, its still look a few gyrations short, but if this interpretation is correct (i don't have any reason not to think its not as i have been tracking it for many weeks now)

We should be close to ending the move that started from the 25th Jul lows, much the same as the EURUSD

A break under the red line can confirm a failed move, but we have the new high and its met the minimum target, so time to be on high alert, my guess is that this also aligns with a reversal in EURUSD as both markets are in sync with each other



Thursday, August 30, 2012

Elliott Wave Analysis of EUR/JPY



Potentially this still looks unfinished as we need to see 7 swings for a WXY correction (abcxabc)

If the small wave [b] is in place we should see a push higher now as this is finishing the last wave of a suspected double Zig Zag correction

If the current move is a small b wave of wave [b] then a trip to 97.50 should be seen before a resumption higher

Only a strong break of 97 would this idea start to look wrong, but while it suggests higher prices the market must be given respect and i am looking for a potential target around 100.50

As always things change and we must adapt as price changes but for now this is the preferred wave count going forward

Saturday, August 4, 2012

Elliott Wave Analysis of EUR/JPY







Following on from the last post: http://wavepatterntraders.blogspot.com/2012/07/elliott-wave-analysis-of-eurjpy-eurusd.html

This turned out really well and held the key support line and i suspect it could still see a bit higher.

The basis in an Elliott Wave sequence is that after every 5 wave move we should at min see a 3 wave correction

There are many potential targets and one such targets is back to the 4th wave of the prior trend in this case around 97.30 which it has met.

Another such target would be the 50% or 61.8% retrace, so those are a little bit higher between 98.00 and 99.00

We can also watch a fibbo target where 2 the legs [a] & [c] would be equal to each other around

98.11, so it seems the 98.00 is in focus

We can also watch the very short term labeling for wave [c] and watch for a 5 wave completed move

Elliott wave can be used on many time frames, Now i am showing the advance as a simple ABC advance/correction against the 5 wave decline from 101.62, it maybe something stronger, but the minimum idea was a 3 wave advance, if it morphs into something else we can deal with that if the situation arises

But the min targets are coming into focus

Saturday, July 28, 2012

Elliott Wave Analysis of EUR/JPY & EUR/USD






It appears that these 2 markets are in sync, although we have been tracking both these patterns and a larger 5 wave decline prior to these moves

But a closer look reveals what i suspect is a 5 wave advance, so a 3 wave move should offer a setup to buy into a corrective decline for a move higher

Only a strong decline below key support areas would the bulls need to be cautious, but it looks a decent setup for both pairs if any decline is a corrective looking move for higher prices over the coming days

EURJPY is on the left

EURUSD is on the right

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Sunday, July 1, 2012

Elliott Wave Analysis of EUR/JPY


With the rally seen last week, it has morphed the correction into a more complex WXY setup, (suspected)

The move is likely to be in wave [y] and requires to see some sort of 3 wave move, overall i dont see much in the way of a Bullish setup, although this potentially could see towards 102-103, but that will be subject to pattern and structure

You can see this idea on many of the JPY crosses, so its something to watch out for if you follow the others such as CADJPY and GBPJPY etc

Sunday, June 24, 2012

Elliott Wave Analysis of EURJPY & CADJPY







Looking at these 2 pairs, there appears to be a great looking set up for a potential reversal.

I am expecting both these pairs to reverse if they remain as a simple 3 wave correction, as the triangle [b] wave is the key to this pattern.


So i am actively watching these patterns this coming next week

Saturday, April 14, 2012

Elliott Wave Analysis of EUR/JPY


Although on the face of the decline it looks a real mess, but a close inspection can actually reveal a setup that is potentially going to find a short term low

Its partner in crime GBPJPY is showing a similar setup, although the decline is a bit messy for a 3rd wave, sometimes we are simply "forced" into the best ideas we can come up and trade them as we suspect, we place our stop and trade the best idea.

Elliott Wave is an art from the skill of the user, as opposed to a trading method, the skill comes from the technician and his/her experience

I find users of Elliott Wave either love it or hate it, you will know if its right for you

Thursday, February 16, 2012

Elliott Wave Analysis of EUR/JPY


Short term there appears to be a 5 wave advance from the red line area, and potentially a larger 3 wave rally from the blue line area, so against the last swing high at 103.49, there is a setup to sell a corrective bounce around 102.75/103.00 and look for a move towards 101.30-101.00

Stops at the last swing high 103.49