My Forex Prediction using Advanced GET - page 6
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Update - 6.15pm (Malaysian Time)
Now that our Malaysian stock market has closed, I can direct my attention to the forex market again.
Looking at all the 5 currency pairs in our portfolio, you will observe at the time of writing ALL these five pairs are BELOW their Opening Quotes, and more important, they are ALL BELOW THE OPENING LINE THE WHOLE DAY.
The last 2 days rally has FIZZLED OUT, and the PRIMARY BEARISH TREND for most of these currency pairs have RESUMED.
Because of today's forthcoming MAJOR ECONOMIC DATA RELEASE later, we shall stay 1 more day aside.
Tomorrow we shall be SHORTING - which pairs(?). Let today's market close first. I shall do one more Update tonite (around 9.30 pm to 10.00 pm Malaysian Time) to confirm the status.
Until then
Regards
Kenneth
Update No.3 - Tracking USDJPY and GBPJPY
Pips to Open and Malaysian Time
GBPJPY:
3:04 pm - 170 pips down (nearer to our normal target of 200 within the 100-300 pips range)
All the 5 currency pairs were down in their Pips to Open. Nothing in the way of GOOD ECONOMIC DATA from USA or UK to push them up other than normal price retracement.
So we were on track as per our EW charts. The Best Performer was GBPJPY and USDJPY was a disappointment.
I have logged in my profit for GBPJPY and hanging on the USDJPY to finish its day.
Hope to update you guys later either in the evening or tonite when there are further new developments.
Regards
Kenneth
Last Update: Tracking the USDJPY and GBPJPY
One last update and I am going to call it a day and sleep early.
USDJPY: Had closed my position; lost 10 pips.
GBPJPY:
At 8:23 pm it touched 200 pips down.
Been going down whole day since morning (Malaysian Time), and it has now turned 180 degrees UP, retracing more than 78.6%. Does not look good for short-sellers now.
I am skeptical it will make it back to 180 pips down.
ADVICE: My advice was - when our target range of 100-300 pips is reached, lock in your profits. Better to have the money in your pocket than in somebody else's pocket.
Don't stretch our luck too much.
Good nite. Have a good weekend. Any emails I have received during the week will be answered Sat/Sun.
Regards
Kenneth