My Forex Prediction using Advanced GET - page 48
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Hihi! Google translate is a marvelous tool! It can even translate whole web page. The translation are not always perfect but it does the job. I go on Russian forum and on an Arabian Forum too.
Sadly my stop have been trigger on UsdJpy, i have done a quick check, Aiant a good time for another short on USDJPY. I should do a complete scan of many forex pair.
Yesterday i open a new MT4 Demo account on GCI They have the most pair i have seen yet also they have all the Indice and also many Shares, futures and commodities. Very interesting... Later it's House on TV...Give me a few minutes. Let me first do my daily posting of GET's Trade Signals, then I come back to chat with you.
Kenneth
Update on EURUSD and EURJPY
At time of writing, I have (1) SHORT EURUSD and (2) BOUGHT EURJPY, both 1 lot orders.
Kenneth
Market Review:
Yesterday morning when most (if not all) of our 5 currency pairs were falling like stones thrown into a lake, I was wondering what in the world was happening.
It was later I read some headlines that I understood why.
Quote:
EURUSD: Near Doji candlestick confirmed by lower lows
GBPUSD: Heavy Stop Loss Selling in Asia???
USDJPY: “Shorts in play” including small timers like us – aren't you proud of it that you were part of this exercise - hehehe
Japanese Finance Minister Fujii rattled markets with his comments, then later denied his earlier comments that intervention was unlikely. His remarks were intended “for our ears only – don't take it too seriously”. Self-interests even at global governmental levels is a reality in world politics.
UnQuote
Below are the Trade Signals generated by GET today after data updates.
A change in GET's Trade Signals has taken place and that is EURJPYhas now become a Buy (yesterday it was a SELL). It is IMPORTANT to notice any CHANGES IN TRADE SIGNALS, CHANGES IN WAVE COUNTS, CHANGES IN DIRECTION OF PRICE CHANNELS, etc.
TYPE 1 TRADES:
SELL – GBPJPY and USDJPY
TYPE 2 TRADES:
BUY – EURJPY and GBPUSD
SELL – EURUSD
Personal Perspective: I am still keeping my 0.1 lot Sell Order of USDJPY until Oct 08 as an “experimental” order to see how far Fibonacci Time Projection will take my order.
And with all the news about the Dollar, Yen and Pound, I am SHORTING EURUSD with a 0.1 lot order also as an “experimental” order to see how good Fibonacci Time Projection will be.
Action to Take: GET's Type 2 Trade Signal of SELL for EURUSD indicates its Primary Wave 5 Up has come to an end, and it will retrace and coupled with not very encouraging news from US, EURUSD will be a good SHORT based on fundamentals and technicals.
The latest news headlines say that “Offers Emerge at Higher Levels” - means there are buyers around for EURUSD and at time of writing the Pips to Open is around 6 Pips Up and the pace is rather slow.
So, I shall wait and wait and wait UNTIL ITS DIRECTION IS DOWN, then I will short EURUSD for intra-day trading. If it keeps on going up, then forget about it. I will take a rest and comfort myself that not every day is a trading day – hehehe.
General: It is at times like this that charts from Elwave software will come in handy to evaluate trading opportunities.
Kenneth
(PS: Since writing this posting, I have SHORT the EURUSD 0.1 lot order for "experimental purposes" and BOUGHT EURJPY 1.0 lot for day trading since GET gave a Buy signal.)Ok, some contradiction i'd like to clarify. If USDJPY is a sell, And EurJpy is a buy, shouldn't we have a BUY EURUSD? We have contradictory signal here? Take your time for responding, i need to make my elwave SCAN. In fact Elwave is very neutral on EurYen.
I'll post it on my thread, now the best looking pair would be SELL GBPUSD, as per Elwave.
Update No.2 EURJPY and EURUSD
I have closed my poisition for EURJPY for a small gain of 12 pips or US$133.29 within 4 hours.
Bought at 131.49 and sold at 131.61;
Prices were not moving at the right pace, so I closed the trade. Normally I used 5 min and 30 minutes to watch the pace of price movements.
Many times it is NOT how much profit I want to make, it is WHAT THE MARKET WILL GIVE ME and we cannot control/manipulate that.
As for EURUSD, I am keeping it. Reasons: it just completed its Primary Wave 5 Up and will be in for a downpath ABC.
Kenneth