Elliott Wave Training

Are you looking to learn the Elliott Wave principle? Or maybe you already have some experience and want to find the ways to improve your skills better.

Click on this post for details:

http://wavepatterntraders.blogspot.com/2012/04/elliott-wave-training.html



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

Saturday, January 4, 2014

Elliott Wave Analysis of GBPJPY

Potentially this has finally ended a 5 wave advance from the lows made on 9th Oct 2013. From the last swing high at 174.82 there is a 5 wave decline, so I am looking for a 3 wave bounce to around 173-173.50

That can set up for a strong break lower towards 168-166

Stops need to be put at the last swing high 174.82

This looks a high reward trade providing we see a 3 wave corrective bounce, it MUST remain under the prior swing low of 174.82 as well as bounce in a corrective manor.

A strong break above 173.50 would be a caution for the bears, but this current bounce is the key aspect of this trade set up.




Saturday, August 10, 2013

Elliott Wave Analysis of GBPJPY

Update to the ideas i have been posting on Stock Twits

You can click here: http://stocktwits.com/message/14725828


Here: http://stocktwits.com/message/14863332

 
 and here: http://stocktwits.com/message/14947949



I suspect its inside a triangle, so under 150-150.50 should see more downside.



I am working a larger wave 4 towards 145-146, so once wave B is finished then a move lower in wave C is needed to end the larger wave [Y] of 4, there should be plenty of downside still left.

Saturday, July 27, 2013

Elliott Wave Analysis of GBPJPY

Early this week I posted an idea on Stock Twits see here: http://stocktwits.com/message/14725828

I was looking for a spike higher into the 154 area, the reversal looks text book, its exactly what we should see after a triangle "thrust".

I am targeting the 145 area over the coming weeks, in a 3 wave decline for wave [Y] so i suspect its currently in wave A, and currently in a smaller wave [iii] of wave A

Staying under 152 should keep the trend looking lower. The target is towards 150-149.50 for the end to wave A, before a larger bounce in wave B in 3 waves, then setup for a move lower in wave C of [Y] towards 145.

The alternative idea is that the daily wave count could also be in a larger 4th wave triangle, so we fail to see a break lower under 147 and it gets a lot more choppy, but for now traders can look lower and sell bounces under 152.

Only a strong reversal back above 152.27 would negate to current idea.


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


Tuesday, April 17, 2012

Elliott Wave Analysis GBP/JPY (Before & After)



Before and after

Posted 21 March 2012 - 02:20 AM

If this is a small ED then we should be about to reverse strongly from here

Posted Today, 11:14 AM

Like the EURJPY pair, a bounce to around 128,50-129 is a target band, as it should be a sideways weak wave, and then push lower for new lows

Friday, March 16, 2012

Elliott Wave Analysis of GBP/JPY



A quick update,as i have been asked, its not a pair i follow, but i can throw my hat in the ring and count a wave or 2

Sometimes i might get lucky :-)

So far its working well, and we have a 4th wave dip as i suspected, although i have not kept up with this pair, i might however have to bring this right to the front of the pack, its got a great looking setup now on a new high

So currently in [v] of a larger [v]

Once completed, i think its good for at least 600-800 pips

If might be ending wave C of a larger flat, if so the next target is under 117

Friday, February 24, 2012

Elliott Wave Analysis of GBP/JPY


Strange count, but i only count 7 waves from the Jan lows, but i suspect near the end of [iii] so a pullback should be imminent probably back towards 125, so a potential selling opportunity