The Daily Picture — A look a my Daily Chart and I am showing the two options as I see them today, Elliotwise.....an ABC correction OR a 5 wave Impulsive structure - implying much lower prices to come. IF the present down move holds no lower ...

Daily GBP/JPY analysis

Sorry to say that I was flat during the sell off as I had confused signals before I went out. Now that we have had a blow off, the markets have slowed down and GJ is back respecting its pivots. The blow off low was a hammer on my 5 min with a 100 ...

Daily GBP/JPY analysis

Had to go out for three hours......around 230 when I left, then down over 500 pips.......there were 2 X 1 min candles with ranges > 100 pips....yes, in 60 seconds......YEEKS.....some blow off. When S1 broke, it fell 335 in 6 mins and now S3 has held ...

Daily GBP/JPY analysis

All at sea — Had to go to sea - working - for a couple of days, so missed the action. Wow - what a sell of from 23:00 edt, down over 200 pips in 40 mins into a nice hammer on the M2 support....also with high volume. Then an hour´s bounce back ...

Daily GBP/JPY analysis

The daily pivot -238.76 - held at 9:00 edt and ever since GJ´s been trading the range down to M2 - 237.90 - and back, on decreasing volume. I think I´ll call it a day and see what tomorrow brings

Daily GBP/JPY analysis

Orions Way....please check your PM - thanks

Daily GBP/JPY analysis

well the 61.8% fibbo retrace is a powerful magnet - and there´s over half of August still left, so I´d have to agree. GJs last big pull back was 1870 pips in 33 days....so far, this one is 1400 in 21 days and 232.50 is 1780 down...say 27 days at the ...

Daily GBP/JPY analysis

Now we know why Bravado´s been so busy....... url

Cable Update (GBPUSD)

nice...I clucked early, but pips in the bank is fine by me....not giving any back today and I´m not seeing a clear reversal yet

Daily GBP/JPY analysis

ah...so that´s why my limit order got filled, lol, I´d better start watching it again

Cable Update (GBPUSD)

LOL, got Tom´s book too and had his VSA software about 15 years ago......I couldn´t get it to work on the FTSE which I was trading then.....but his ideas were interesting. I think the most useful part of the DT book was the way Bob put it all ...

Cable Update (GBPUSD)

Glad to see that some-else has got Bob´s Dynamic Traders book....its over 10 years since I bought it and it remains an outstanding buy.....there is one FX trader who runs a well known site with expensive courses, seminars etc all based on Bob´s work

Cable Update (GBPUSD)

Out for +18, cable´s starting to bounce

Daily GBP/JPY analysis

Short from 38.48, GU leading the pull back, this needs UJ to pull back too to make it worthwhile....so far it is just a scalp against the trend

Daily GBP/JPY analysis

It held under the pivot for over 15 mins before dropping to the 50 level with the 1min 34ema starting to roll over....the first signs of a possible pull back. UJ didnt make it up to its pivot and cable has also stalled......patience to see if a sell ...

Daily GBP/JPY analysis

Now back to pivot, where we were 5 hours ago, time for the New Yorkers to decide what they are going to do.....cable´s held at under 50% of this morning´s fall, so most of this bounce has come from the support of UJ, which is now 12 pips under its ...

Daily GBP/JPY analysis

Just working off todays move, the 50% retrace is at 0163 - I also have that as S1, so the action there will show how strong this current bounce really is.

Cable Update (GBPUSD)

Nice entry, I see the upside limited for now by the weekly pivot at 239.90 and I still expect a test of the Daily 61.8% fibbo at 232.50 before a proper rally resumes - twt - but lets just keep grabbing pips along the way image

Daily GBP/JPY analysis

So it over-shot S1 and went for yet another 50 level, its third in just over an hour - 4:57 the 38:50, 5:18 the 37.50 and finally 6:15 the 36.50 and as I type its back at the 37.50. As we have the 38% fibo of this mornings range at 37.70 and the 50% ...

Daily GBP/JPY analysis

Just in case you didnt see it.....

Daily GBP/JPY analysis