Some of my trades, forecasts

[4xpipcounter]

Re: Cad/jpy

The pair has run into a TK WP combo at 82.82 on the hourly. An hourly close above that, and this pair is on its way. It looks like strong R.
For those into candlestick formations, a head and shoulders has also formed on the hourly, and that would mean a good-size drop. OTOH, there is a grip of R CAD/JPY will have to endure if 84.00 is realized.

Yes - I think it is funny that you emailed me at at the same time telling me that it looks hot to go UP.
With my analysis I'm not looking to hit home-runs, I look for strategic places to enter where the risk is lower, ie. leaving a pending order before a breakout. If the price action proves me right then I enter the trade, if I'm wrong, then the trade doesn't take place.
If James is not against that we are discussing the charts here, then I will post some more charts here, let me know if you want to see any particular chart.

 

[4xpipcounter]

4 of the 7 majors

EUR/USD: The correction is fully underway. The TK combo on the daily is the objective at 1.3032We could also get a move to the WR2 at 1.3071. Afterwards, a move back to the YS2 should be underway, which is 1.2640. Eventually, the drop should go further.

GBP/USD: The base has now been fully formed around the 1.5584 mark. The pair will fulfill my 1.5784 expectation. Once back in the DOWN, it will be then that we have a clear shot at 1.5447 and 1.5278.

USD/CHF: 1.0358 is still solid support. Once 1.0625 is broken, it will be on to 1.0946, 1.1031, and possibly 1.1127

AUD/USD: Corrective implications are not as strong as other majors, which is why, for now, the others are moving the crosses. Once ..8860 is broken, the sights should be clear to .8682, before another correction. Any further corrective moves should not extend beyond circa .9100.

 

[4xpipcounter]

GBP/NZD trade

Went short at 2.1766, with TP at 2.1635

 

[4xpipcounter]

I should have taken the wide spread on the AUD/NZD last night. Look at the size of today's candle.

 

[regaE]

Hey 4xpipcounter, you believe in a retrace towards 1,5750 area for cable?

 

[4xpipcounter]

RegaE, thanks for checking in. The accompanies chart confirms my position on it. First, pardon the "in-your-face" look. I had to zoom in closer to accent thre position. Where it is normally, the detail could not be seen, as it is getting very close, even as I'm writing this.
The tenken is dropping sharply. It has now formed a confluence at the 61.8% mark of YS1--YP. Now, the 1.5750 mark would be adjusted slightly to the 1.5720 confluential mark. Also, notice the continuance of successions of closes above the confluence of the kijun and the 50% mark of the YS!--YP. The give away is the highly OS condition of the stochastics. The minimum expectation is the tenken getting hit. This is why it was nothing to get excited about in watch yesterday's and today's moves to the 1.5500 area. Once this correction is complete, then it will be on to 1.5447 and 1.5278 with ease. Another correction will probably ensue at the latter. I was origianlly expecting a reversal around that point, but optimism is growing for a move towards 1.5005. That point is not on the radar, but it is looking more likely.

Hey 4xpipcounter, you believe in a retrace towards 1,5750 area for cable?

 

[4xpipcounter]

Usd/chf

Watch for reaction at current level. MS1 is 1.0298. Either we get a strong bounce from this point, or price action could get buried under the weekly cloud, and then things will change, drastically. We are still looking for the weekly close above 1.0358. If containment is at current level and we get the move back over 1,0358, then nothing changes with regards to the original forecast.

 

[4xpipcounter]

GBP/CAD trade

I entered a short at 1.6196. This should be an initial drop back to 1.5818.

 

[JahDave]

Where have you been all day, it's been an exciting day in forex world...

 

[4xpipcounter]

Dave, it has also been a busy day in the forex world. I didn't post them here, but I went long the EUR/USD and the GBP/USD today and made some wonderful pips! I'm still waiting for 1.2963 to be hit by the euro to go short. I mighht even go short the next time it hits 1.2900. GBP/USD is similar at 1.5700.
I've been working with someone on my favorite software (hint hint), and its useage. DEC can verify that, as well as my 2 trades I got today.
AUD/USD is ready for another leg DOWN. I'm looking for another entry at circa .8970.
GBP/CAD is ready to burn rubber south. Many wonderful opportunities. Just so little time.
It does look like the euro and cable will follow a continued volatile path until their daily kijuns have been hit.
I got my new office phone in. I'll give you a call later. EM or PM me if it is not convenient. I know you don't feel well.
I do have a busy night. My wife's dog is in heat, and we borrowed a friend's dog. We will return him later. It could be a long night. This lady can go a long time on one breath. In the mean time, the two dogs are having a wonderful time.

Where have you been all day, it's been an exciting day in forex world...

 

[JahDave]

ROFL,,,,,,I also have had a really great day of trading. I have increased my account by 20% in one day. I think the Aussie downturn is over myself, if not then it should not go below the .8850 area. There are always many clues in the charts and sometimes I read them right and sometimes I don't.

 

[4xpipcounter]

Eur/gbp

Unless we get another move UP to circa .8300, this short is not worth taking. The bears are still going to have control for awhile. .8145 will be broken, and a further drop could take us to .8005. A long may now be worth considering at that point.
Notice the adjustment from the previous forecast on this pair.

 

[JahDave]

Re: Eur/gbp

Unless we get another move UP to circa .8300, this short is not worth taking. The bears are still going to have control for awhile. .8145 will be broken, and a further drop could take us to .8005. A long may now be worth considering at that point.
Notice the adjustment from the previous forecast on this pair.

Here's what I think should happen based on Elliott Wave Theory. The down move that has been unfolding is not impulsive, so therefore it must make one more push up to complete a flat. After the move up completes then it will move down impulsively to the levels you have stated.

 

[JahDave]

Re: Eur/gbp

Unless we get another move UP to circa .8300, this short is not worth taking. The bears are still going to have control for awhile. .8145 will be broken, and a further drop could take us to .8005. A long may now be worth considering at that point.
Notice the adjustment from the previous forecast on this pair.

Sorry, wrong currency......LOL

 

[JahDave]

Re: Eur/gbp

Sorry, wrong currency......LOL

I was talking Aussie over here......

 

[4xpipcounter]

You beat me today. I was just telling someone about the ease in getting 11.8%, and then you have to post 20%.
I'll do better tomorrow, though. I need to join you All-Stars--lol.
Okay, let's go one-on-one...for a change. I think the ..8850 will get taken out this trip, but be careful of the reversal when it happens. The deeper the bears, the more volatile response they will get from the bulls. The corrective process is not over yet.

ROFL,,,,,,I also have had a really great day of trading. I have increased my account by 20% in one day. I think the Aussie downturn is over myself, if not then it should not go below the .8850 area. There are always many clues in the charts and sometimes I read them right and sometimes I don't.

 

[JahDave]

You beat me today. I was just telling someone about the ease in getting 11.8%, and then you have to post 20%.
I'll do better tomorrow, though. I need to join you All-Stars--lol.
Okay, let's go one-on-one...for a change. I think the ..8850 will get taken out this trip, but be careful of the reversal when it happens. The deeper the bears, the more volatile response they will get from the bulls. The corrective process is not over yet.

I can't even respond to that because i don't trade the EG or have a EUR_GBP chart. But I do agree with you that the correction is not over yet. I think today there are a lot of technical traders that got fooled into thinking the correction was over. I have looked at all of the charts that I do trade and although today was steep, I can't label 1 single chart as being an impulse down from an Elliott Wave perspective. Check out my EUR_AUD analysis. I think that might be the most productive trade for the next several days.

 

[4xpipcounter]

Re: AUD/USD

I agree with you. I just think the .8850 level gets taken out. Having said that, I'm still going to be cautious if I get in the trade because of the implications of the sharp reversal, which it looks like we also agree there.
Good grief! It's not like we totally disagree on nothing.

Here's what I think should happen based on Elliott Wave Theory. The down move that has been unfolding is not impulsive, so therefore it must make one more push up to complete a flat. After the move up completes then it will move down impulsively to the levels you have stated.

 

[4xpipcounter]

Gbp/jpy

The bottom of the daily cloud at 131.57 looks ideal for a monster reversal.

 

[JahDave]

Re: AUD/USD

I agree with you. I just think the .8850 level gets taken out. Having said that, I'm still going to be cautious if I get in the trade because of the implications of the sharp reversal, which it looks like we also agree there.
Good grief! It's not like we totally disagree on nothing.

Maybe R.N. Elliott and Charles Dow studied candlesticks and Ichimoku as well...........LOL...... I think the reality of it all is that these methods are all just different ways to measure human sentiment mathemetically..........