Some of my forecasts

[4xpipcounter]

Actually, that was Timepass' chart.
The pair is mess, but a good one as far as I'm concerned, because it has a lot to do with moving the EUR/JPY north for me.

I did a thread strictly devoted to TL's if you want to gather a look at it.

An exception to he rule occurred, which is part of the reason it is a mess. The TL was broken, and the swing high was broken. Having said that, price is still contained under the TL while still rising.
It now appears to be a very rough, consolidative rise to 1.3480.

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Looking at the chart posted above by 4x reminds me of a quote from John Murphy's book.

If price breaks below an ascending trendline, followed by an higher high which tests this same trendline, it is quite likely for price to reverse from this point.

 

[4xpipcounter]

RK, thank-you! I don't know if you are aware of it, but I got a new demo with Nifty on it, and have been posting my updates at Nifty50 Trends.

Sir

I have sent you Nifty Hourly data for 5 years on your mail
Regards

 

[rkgoyal_98]

Sir i am aware of it, thanks
You were talking there something 10years data in one of the post, since i am having very good data even in smaller time frames upto 1 MIN that is why i sent
Regards

 

[4xpipcounter]

Eur/jpy

Momentum is waning, even though it keep plodding north (more like northeast). I've talked about the WR3 at 107.48 being hit before a reversal. I would not want to count on it, as more and more it appears that the reversal is going to be titanic. The stochastics is only an oscillator and not reliable to be used as a reversal indication of itself. Nevertheless the tell-tale sign is that is is strong diverging from price, and it bent on bring down price with it. The reversal will be strong but appears the nature of it will be corrective only, as it has the 103's on its radar.

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[4xpipcounter]

Thanks, Rk. I didn't know you were aware. I'll get back to you after I look at it. Thanks again!

Sir i am aware of it, thanks
You were talking there something 10years data in one of the post, since i am having very good data even in smaller time frames upto 1 MIN that is why i sent
Regards

 

[timepass]

Usd/eur

Then maybe we need to re-consider the trendline. Was it correctly drawn ?? Could it be drawn differently ?? Is there any fundamental reason for the contrary movement ?? Maybe the original premise was incorrect. Maybe other indicators are saying something different.

I tried a different set of trendlines and got a sort of upsloping channel.

Aside : How does it affect EUR/JPY movement ?? There must be some relation, I'm sure, just as USD/EUR has inverse relationship with USD/INR.

I know! How bizarre is that? It's still below the TL and rising.
Actually, I've been feasting on the EUR/JPY. I'm long in it. My WF was wrong concerning the pair, but I'll get over it.

Actually, that was Timepass' chart.
The pair is mess, but a good one as far as I'm concerned, because it has a lot to do with moving the EUR/JPY north for me.

I did a thread strictly devoted to TL's if you want to gather a look at it.

An exception to he rule occurred, which is part of the reason it is a mess. The TL was broken, and the swing high was broken. Having said that, price is still contained under the TL while still rising.
It now appears to be a very rough, consolidative rise to 1.3480.

image hosting gif

 

[4xpipcounter]

Re: Usd/eur

As far as the FA's are concerned, you are talking to the wrong person

Yes, the TL was drawn correctly.

It could be drawn differently, as per the way you drew the new one. But, I would not consider the new one until the original is broken from the bottom up.
Also, there is nothing about trading that is set in stone. There will always be exceptions happening somewhere. I'll risk sounding conceited here, but I'll stick make the point.
The reason I devised the totality of my methodology the way I did is because it minimizes exceptions happening, which minimizes the times I am wrong, and minimizes the losing trades I make. Personally, I'm satisfied with that. I'm right not all the time, just most the time. And, that's a good feeling.

Other indicators (Whatever they may be) could be saying something different. Whatever indicators those might be will also yield the few exceptions, so we all have to go with the indicators that tell us what we personally need to hear.
BTW, with the move now favoring 1.3480, it is very possible the TL could be broken from the bottom up, which would put into effect the new one you drew.

This is how the EUR/USD and EUR/JPY effect each other, and do the math to confirm what I am telling you is right.
EUR/USD*USD/JPY=EUR/JPY.
Lately, the EUR/USD and the USD/JPY have both been going up, so obviously, the EUR/JPY has to go up. And there is no exception to that, because the math verifies it.
It also stands to reason EUR/JPY / EUR/USD=USD/JPY.

As far as the relationship between the USD/INR and the EUR/USD are concerned, if there is a strong directive obviation with the USD Index, then the USD/INR and EUR/USD will move in opposite directions because the USD is the secondary currency in one of the pair and the primary in the other one.
Look at what happened after the USD Index was high OS. It moved up sharply, the EUR/USD went south, and the USD/INR went north.

Then maybe we need to re-consider the trendline. Was it correctly drawn ?? Could it be drawn differently ?? Is there any fundamental reason for the contrary movement ?? Maybe the original premise was incorrect. Maybe other indicators are saying something different.

I tried a different set of trendlines and got a sort of upsloping channel.

Aside : How does it affect EUR/JPY movement ?? There must be some relation, I'm sure, just as USD/EUR has inverse relationship with USD/INR.

 

[rajesh.sadhanala]

Re: Eur/jpy

Momentum is waning, even though it keep plodding north (more like northeast). I've talked about the WR3 at 107.48 being hit before a reversal. I would not want to count on it, as more and more it appears that the reversal is going to be titanic. The stochastics is only an oscillator and not reliable to be used as a reversal indication of itself. Nevertheless the tell-tale sign is that is is strong diverging from price, and it bent on bring down price with it. The reversal will be strong but appears the nature of it will be corrective only, as it has the 103's on its radar.

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I have initiated a short on EURJPY but my target may not be 103. It is 104.8
Next one to look out for is EURUSD and GOLD/ Silver

Regards
Raj

 

[rajesh.sadhanala]

Re: Usd/eur

Then maybe we need to re-consider the trendline. Was it correctly drawn ?? Could it be drawn differently ?? Is there any fundamental reason for the contrary movement ?? Maybe the original premise was incorrect. Maybe other indicators are saying something different.

I tried a different set of trendlines and got a sort of upsloping channel.

Aside : How does it affect EUR/JPY movement ?? There must be some relation, I'm sure, just as USD/EUR has inverse relationship with USD/INR.

That is the beauty of the trendlines is that it is redrawn. It is always our convenience of drawing it again but I wud also like to stick my neck to the first one too (Reason: This will be revisted).

I would personally prefer to go short with EURUSD rather than go for long. I am just waiting for confirmation

I would personally like to thank Paul as I picked up drawing trendlines from him

Regards
Raj

 

[4xpipcounter]

Re: Usd/eur

No problem, Raj. It's always a pleasure.

That is the beauty of the trendlines is that it is redrawn. It is always our convenience of drawing it again but I wud also like to stick my neck to the first one too (Reason: This will be revisted).

I would personally prefer to go short with EURUSD rather than go for long. I am just waiting for confirmation

I would personally like to thank Paul as I picked up drawing trendlines from him

Regards
Raj