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Update Chart of the moment $GBPJPY 21-Oct-2009

by Gav Leave a Comment

Over the past 2 trading days, there are some interesting developments in GBPJPY. It seems to be holding well at resistance level, and who knows, it might be ready to break away from it. This is what I see now. What do you think? (click the image to view chart)

GBPJPY_H4_21Oct2009

Filed Under: Chart of the moment, Trading Journal Tagged With: FX, GBPJPY, Trading Journal

Reader Interactions

Comments

  1. lionel says

    at 2:34 am

    looks to me like it’s in the making of wave 5 here, with the current triangle(flag) as a wave 4 correction.

    Reply
    • Gav says

      at 2:38 am

      Uhmm..so we are looking at the last leg of wave 5 here before any major correction?

      Reply
  2. lionel says

    at 1:34 pm

    looks to me like it’s in the making of wave 5 here, with the current triangle(flag) as a wave 4 correction.

    Reply
    • Gav says

      at 1:38 pm

      Uhmm..so we are looking at the last leg of wave 5 here before any major correction?

      Reply
  3. lionel says

    at 3:04 am

    Oh that’s just my personal point of view ๐Ÿ™‚

    I’m still quite new to this EW thingie, but, that’s pretty much what i have in mind.

    What do you think?

    Reply
  4. lionel says

    at 2:04 pm

    Oh that’s just my personal point of view ๐Ÿ™‚

    I’m still quite new to this EW thingie, but, that’s pretty much what i have in mind.

    What do you think?

    Reply
  5. lionel says

    at 3:13 am

    hmmm …..

    Looking at the $XBP index chart, (http://stockcharts.com/h-sc/ui?s=$XBP&p=D&yr=0&mn=11&dy=0&id=p99554314714) seems like it has just completed it’s a-b-c correction and is about to make a new wave up (though it’s currently sitting right at the down sloping resistance)

    but, that really looks like a Head & Shoulder pattern there, and it’s neckline broken in mid september around $162. And the current price is retesting the neckline.

    Hmmm ….. must be pretty confusing for the bears and bulls alike

    ;p

    Reply
  6. lionel says

    at 2:13 pm

    hmmm …..

    Looking at the $XBP index chart, (http://stockcharts.com/h-sc/ui?s=$XBP&p=D&yr=0&mn=11&dy=0&id=p99554314714) seems like it has just completed it’s a-b-c correction and is about to make a new wave up (though it’s currently sitting right at the down sloping resistance)

    but, that really looks like a Head & Shoulder pattern there, and it’s neckline broken in mid september around $162. And the current price is retesting the neckline.

    Hmmm ….. must be pretty confusing for the bears and bulls alike

    ;p

    Reply

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My Name is Gav.
I am a Father, Husband, Trader, And Blogger. A serious coffee addict. I started training since 2005, mainly on FX and Futures.

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