I dont use EW anymore - there are so many variations that IMO its almost impossible to get consistancy using it - a fellow trader spent thousands on the latest REW software and after a year has reached the same conclusion. The W4 retracement range ...

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

PCE data in line with expectations.....Dow Futures rallying and taking UJ up

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

NP - W4 can be divided into an ABC type of correction - I'll think about that IF the much talked about fall does NOT happen....

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

As I was just looking at my daily chart, here's what I have EW-wise....the "normal" W 4 retraces are 206.35 or 214.92 calculated off the previous waves. Thus IMO, Wave 4 could go as high as the top of the DZ - the .618 retrace at 215.94 by mid June ...

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

Nice and at least its a LOT cheaper than the 1961 version.... url $10.9 M for a car..... image

Cesarnc's market talk, gossips, rumours & fun

six 50 point swings in the last couple of hours - I'm getting very tempted to go back to trading the YM.... image

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

Oil data was bad -8.8mb vs -0.3 expected.....oil's up $3.5 already with dow first up 50 before the news, now down 60....I'm thinking the PPT's at work again

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

The YM held around its DP and then rallied 40 to get up to 12,600 before reversing to head south again. I'm thinking that helped Uj / GJ up into what is so far a lower high at 208.18 vs 208.33 an hour and a half earlier....so I've taken a half ...

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

Pipsmaker — Pipsmaker - please remove your oversized chart and replace it with a correct, reduced size chart - you current one is screwing up this page. Thanks.

USD/JPY Discussion

Gold is falling fast down $15 in 15 mins - that's pulling swissy up and so helping UJ, but cable's off 30 and pulling GJ down a bit. The dow futures are at their daily pivot of 12,564 - IF that breaks UJ will drop too....TWT

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

Agreed, but then it stalled at its M2 pivot at 894.20 and turned back down....

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

MMmm - swissy was selling off 20 mins before the data, but its holding at its R1 support and now the dow futures are down 30....I'm waiting for the NY open.....eeuro and cable starting to rally....

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

Are you certain that its not an upthrust to a blow off top????? image

Cesarnc's market talk, gossips, rumours & fun

Dont you mean 208.75 ish? - that would be the T2 level on the chart that I just posted - the 1.618 extension....

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

Thanks Quecee - I couldn'd resist posting my 5 min chart - a perfect IFibs buy off the 50% retrace. Its just stalled at the blue R1 pivot resistance at 208.26, still IMO looking strong. Half an hour till the US GDP data.....

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

Whilst this weeks rally does appear to be slowing down, the trend is still up in GJ. However, the are signs that GBPUSD may have turned down - on the hourly chart GU failed to hold above its weekly pivot at 9837 and yesterday had a lower high and a ...

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

Thanks image Its seems that the Brits are waiting for the German Employment data due out at 3:55 EDT - 30 mins...I'm waiting for some input - cant see a new trade now. NUREMBERG (Dow Jones)--Forecasts for a seasonally adjusted decline in German ...

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

I've just closed..... image Short cable and long UJ was the play whilst GJ went west..... image Edit: London OPen - time for a coffee whilst the Brits decide what to do.....

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

Its a good idea to watch the Swissy too - its up over 50 pips in the last 90 mins and UJ will have to follow......

USD/JPY Discussion

LOL - agreed - it was a great pity that he (the Dove Alliance) formed his own, small, closed group and stopped posting in FF image

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