Some of my forecasts
- Thread starter 4xpipcounter
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Nzd/jpy
This should be an addendum to the price action series, along with my forecast.
The solid black line should have been a dotted line to properly represent the support line.
When that line at 66.29 is broken, there will be no looking back. The pair will have the MR1 at 64.20 dialed in, and it will probably go lower than that. Stronger obviations come from the daily and weekly charts, as there are some extreme readings on those charts. If 67.30 is broken, then the pair has another leg north to circa 68.00.
jpeg image hosting
This should be an addendum to the price action series, along with my forecast.
The solid black line should have been a dotted line to properly represent the support line.
When that line at 66.29 is broken, there will be no looking back. The pair will have the MR1 at 64.20 dialed in, and it will probably go lower than that. Stronger obviations come from the daily and weekly charts, as there are some extreme readings on those charts. If 67.30 is broken, then the pair has another leg north to circa 68.00.
jpeg image hosting
I'm going to get into rejection candles in the price action series, but here is an appetizer.
Notice the long wick on the candle that I circled with the oval. That is an indication the trend has come to an end. I also drew an arrow to a similar candle. I cheated and took note of the fact that price just broke under the level kijun and just above the cloud. The DOWN had not really been that strong to that point to indicate to me it was time to reverse. The circles one has a longer wick sitting on top of the cloud. Just in case I am wrong, then the stop is set for that swing low.
The pair figure to eclipse the recent swing high, as the SD channel would indicate. It is an uptrend, overall, so that also indicates that swing high will be broken. Once it is broke, there would also be quite a few pips to be gained from that point because of the nature of the break of the swing high. As a rule you can measure the distance from the swing high to the swing low, then add it to the swing high and that is the proximity of the next leg. The MR1 at 1.60623 is the next reference point beyond the swing high, so it makes for a conservative target.
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Notice the long wick on the candle that I circled with the oval. That is an indication the trend has come to an end. I also drew an arrow to a similar candle. I cheated and took note of the fact that price just broke under the level kijun and just above the cloud. The DOWN had not really been that strong to that point to indicate to me it was time to reverse. The circles one has a longer wick sitting on top of the cloud. Just in case I am wrong, then the stop is set for that swing low.
The pair figure to eclipse the recent swing high, as the SD channel would indicate. It is an uptrend, overall, so that also indicates that swing high will be broken. Once it is broke, there would also be quite a few pips to be gained from that point because of the nature of the break of the swing high. As a rule you can measure the distance from the swing high to the swing low, then add it to the swing high and that is the proximity of the next leg. The MR1 at 1.60623 is the next reference point beyond the swing high, so it makes for a conservative target.
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Eur/jpy
This pair is getting real close to the WR3 at 107.47. It's at that point this pair should be getting ideas to reverse. The minimum move to the south should be 103.54. That area should at least serve as a reaction point to determine the future direction. Either the circa area of this week's WR3 is the peak, or this is just a correction that eventually takes the pair to 110.47.
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This pair is getting real close to the WR3 at 107.47. It's at that point this pair should be getting ideas to reverse. The minimum move to the south should be 103.54. That area should at least serve as a reaction point to determine the future direction. Either the circa area of this week's WR3 is the peak, or this is just a correction that eventually takes the pair to 110.47.
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Re: Eur/jpy
I have added one more short of EURJPY..
tracking EURUSD, USDJPY and EURJPY closely
Regards
Raj
This pair is getting real close to the WR3 at 107.47. It's at that point this pair should be getting ideas to reverse. The minimum move to the south should be 103.54. That area should at least serve as a reaction point to determine the future direction. Either the circa area of this week's WR3 is the peak, or this is just a correction that eventually takes the pair to 110.47.
png image hosting
png image hosting
tracking EURUSD, USDJPY and EURJPY closely
Regards
Raj
Re: Eur/jpy
These pair are looking similar to a train with a break fail
This pair is getting real close to the WR3 at 107.47. It's at that point this pair should be getting ideas to reverse. The minimum move to the south should be 103.54. That area should at least serve as a reaction point to determine the future direction. Either the circa area of this week's WR3 is the peak, or this is just a correction that eventually takes the pair to 110.47.
png image hosting
png image hosting
Re: Eur/jpy
Yes my EURJPY position is in a loss. As paul always says, it looks like a freight train with no brakes. I will be stepping out soon in midway
I am on the wrong side after the 1st week of Jan.
I am not convinced abt the move of EURUSD until today. I am following USDJPY which is moving the pair of EURJPY all the while.
Regards
Raj
Yes my EURJPY position is in a loss. As paul always says, it looks like a freight train with no brakes. I will be stepping out soon in midway
I am on the wrong side after the 1st week of Jan.
I am not convinced abt the move of EURUSD until today. I am following USDJPY which is moving the pair of EURJPY all the while.
Regards
Raj
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