Well done on your longs PipChick and Geppy! I closed mine early although my target was 238 (from 235). This could still go to 238.80 - that is my high.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Yep, but sometimes we have to pay that price. It will be nice to see it before market close.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Thanks markam I'm adding to my shorts up to 238.80. First target is 235 to 234 (300-400 pips). If we are going to get panic selling of sorts, it should come next week or the week after. Otherwise we could bounce up to 244 or 247.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Hmm, does it look like the bulls are running out of steam already? I was wanting to get some shorts higher up. EJ looks ripe for a fall.

Auslanco - GBP/JPY and GBP/USD (newstrade)

I don't think 50% is a fibo level, it is just half and added in for good measure. Primary fibs are 61.8% and 161.8%. Then you have derivations like 78.6% is the square root of 61.8% 88.6% is the fourth root of 61.8% 127% is the inverse of 78.6% and ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

Yes, first target, there is support at 235 to 234.... I expect it to bounce from there.

Auslanco - GBP/JPY and GBP/USD (newstrade)

First target is 235/234 area... then I expect a bounce, maybe back to 238. The problem now is that 235 to 227 is a big support area and wont be broken easily. A panic will do it though.

Auslanco - GBP/JPY and GBP/USD (newstrade)

I suppose the gap traders are closing the gap?

Auslanco - GBP/JPY and GBP/USD (newstrade)

I finally got my 238 Now just waiting for the bulls to run out of steam. Someone with deep pockets is certainly selling to them otherwise this should have shot up much further. I don't expect it to go further than 238.80. See below for my ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

We were discussing Elliott Waves last night (my time) and I was telling PipChick that I was waiting for the C wave down (on the 15 min). That is the last wave so there's nothing more to come. BTW, this is not harmonics but something different. I ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

That C wave looks complete now....just in case anyone was wondering (PipChick and Geppy).

Auslanco - GBP/JPY and GBP/USD (newstrade)

Yes, the B point is a bit high so I'm not sure what pattern that should represent. The highest B point I know of lives in the Gartley at 78.6. It will be interesting to see what else it picks up so keep them coming

Daily GBP/JPY analysis

I am not an elliot wave expert but I started trading by reading elliot wave charts. If anyone ever states that they are subjective then I couldn't agree more, however, they have certain rules and the labelling needs to be correct. Unfortunately, ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

It's not even an EW count. The numbers are labelled incorrectly. Wave 5 should be right at the top (i.e, the peak) and the numbers below should be in order.

Auslanco - GBP/JPY and GBP/USD (newstrade)

OK, NP

Auslanco - GBP/JPY and GBP/USD (newstrade)

Not sure where that came from.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Long again?!?! Where is your stop this time?

Auslanco - GBP/JPY and GBP/USD (newstrade)

Hi Doctor From my point of view, the basics are the most important. I started on more advanced methods but I didn't really get it. Click on my name and check my favourite trading book. Someone once recommended that book to me and it helped me a ...

Daily GBP/JPY analysis

I wondered where that post went. It was supposed to go into another thread but found itself here! I must have clicked the wrong tab. The bat target was in the 236 area (or high 235s) so as it turned out, the potential was 83 pips. That's why I ...

Daily GBP/JPY analysis

Well, C waves are normally larger than A's so I don't think the low is in yet.

Auslanco - GBP/JPY and GBP/USD (newstrade)