thanks for advice, take a look at GY weekly do you see that upthrust limited or not?

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

correction or impulse — the question is whether the GJ move is corrective or impulsive my guess is that the cause of geppy's move up is the Yen's weakening because cable is still fundamentally weak and assuming general strengthening of USD so ...

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

GU & GJ diverge — just simple observation: GU and GJ are moving in different directions

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

next H4 will hammer it out

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

135 is a critical level to watch to

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

[quote=naatha;3575611] currently it is 3rd wave on weekly with target 127 JHMO

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

well biased — I'm bearishly biased based on monthly and weekly, let's see how she will act

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

geppy is still in bearish mode until 137.8 is taken but 135.5 is quite possible, JMHO

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

EU will not collapse but if Greece and Spain will return back their local currency and devaluate them then their problems will be solved

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

the most probable scenario for USD is strengthening for this year if we assume that EU is on new trend down and if that would the case we might expect similar scenario to 2008 but only with less magnitude, which leads us to assume that GJ now at ...

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

let's look at the Dow, Gold and stocks; where will be the next move or what are the prospects for each of them for this year? if Gold will be heading up then USD shall be weakening further and GJ will follow in opposite direction of Yen ...

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

that should a huge case for super mighty USD

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

if price will cross 167 then your second count (ABC) could be justified

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

actually, if this is 4th wave then we might reasonably expect double bottom 118 at least but keep in mind that there are very few cases when wave 5 failed to reach the double bottom

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

if u look on weekly RSI, u will find that geppy is on the way up but first daily should accomplish move down

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

geppy still is within the boundaries of triangle (148.5-142.5)

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

also by law of alteration we know that if the second wave was sharp (as it was actually) then the 4th wave should be choppy and complex by formation

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

impulse wave can't be choppy and triangles are usual for corrections that leads us to assume that GJ is on large wave 4 now and it is reasoble to expect spike to accomplish it before the final 5th wave down JMHO

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

Gold could go higher to $1148/9 and most probably will drop after that JMO

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

if we use $1000 as base for Fib then today's Gold is retraced from HH right to 61.8 for further move upside gold should do as second leg down at least to $1060

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