My trading journal - plus wave counting bits (old Trumps surprise visit to N.Korea)

ssam

Well-known member
264 5
you got a twofer ............. here's your other pal, GBPUSD.

Nailed him too. You had questions or doubts about Macd - see the divergence response unit? Stellar. Never underestimate the creme de la creme indicator. Trendline busted too


View attachment 267197
Happy Sunday Fibo et al.

GBPJPY for the week;

1 hour looks like 5 wave up complete, awaiting ABC down - MACD + RSI convergence, I am expecting price to head to the 130.00 point - based on .618 / 200 EMA / break of previous support, I expect this to be retested.

4 hour - A B C to complete the intermediate wave 1 down to the support of 130.00 would look to get involved here with on completion of wave 1 down to the .618.

Thoughts welcome!
1Hr
267276




4hr
267275
 

fibo_trader

Senior member
2,234 44
Happy Sunday Fibo et al.

GBPJPY for the week;

1 hour looks like 5 wave up complete, awaiting ABC down - MACD + RSI convergence, I am expecting price to head to the 130.00 point - based on .618 / 200 EMA / break of previous support, I expect this to be retested.

4 hour - A B C to complete the intermediate wave 1 down to the support of 130.00 would look to get involved here with on completion of wave 1 down to the .618.

Thoughts welcome!
1Hr
View attachment 267276



4hr
View attachment 267275

El magnifico Domingo para El Duke de London :):)

Will have a look later this evening, so hang in there.
 

ssam

Well-known member
264 5
El magnifico Domingo para El Duke de London :):)

Will have a look later this evening, so hang in there.
Thanks, no where near perfect, but got to get the screen time in.

GBPUSD before the London open in 45 minutes.

1 hour - 5 wave up complete ABC down now underway, maybe potential for a deep retracement on the C wave down to 200EMA.
I dont think the B wave is valid, as B wave does not breaches the high from wave A down? Feel some bear attraction may be given by 200 EMA and more BR*X*T uncertainty this week.

4 Hour - again ABC down, but it looks like we are still in wave A down, given no significant high looks to have been made from B wave up. Price above 200 EMA, may come down for a little kiss - or much more.

Either wave, MADC, RSI and Price action and Shortterm fundamentals are bearish for me. Trade is on paper only. Sell to 1.2200 level
267277
267278
 
Last edited:

fibo_trader

Senior member
2,234 44
Happy Sunday Fibo et al.

GBPJPY for the week;

1 hour looks like 5 wave up complete, awaiting ABC down - MACD + RSI convergence, I am expecting price to head to the 130.00 point - based on .618 / 200 EMA / break of previous support, I expect this to be retested.

4 hour - A B C to complete the intermediate wave 1 down to the support of 130.00 would look to get involved here with on completion of wave 1 down to the .618.

Thoughts welcome!
1Hr
View attachment 267276



4hr
View attachment 267275

Charts look good. In 4H ..... RSI, why are the trendlines topside?

For the rally your ABC proj grid should have a 161.8% around 133.

See charts that follow
 

fibo_trader

Senior member
2,234 44
GBPJPY: daily

The only change that has occurred over allllllll this time we've been watching it is that a trendline breakout topside has occurred.
Therefore the SHORT is closed for all Fibo type traders who want to see the forest.


267319
 

fibo_trader

Senior member
2,234 44
GBPJPY 4H:

Trend is UP. Trading STOP is under blue TL. Targets are marked 133 - 144. Can reverse at 133 to give you a wave 2 down or a total reversal and kick in the ass, hence the trading STOP


267322
 

fibo_trader

Senior member
2,234 44
GBPJPY 1H:


purple trendlines. I've left the 4H trendline (blue) in for reference. Arrows show 1H exit and reentry for profit taking because of the high leverage play for countertrend. So for the last vertical rise there is no downwave yet, so this is a test of "balls" for the low capitalized cats, so beware.



267324
 

fibo_trader

Senior member
2,234 44
Thanks, no where near perfect, but got to get the screen time in.

GBPUSD before the London open in 45 minutes.

1 hour - 5 wave up complete ABC down now underway, maybe potential for a deep retracement on the C wave down to 200EMA.
I dont think the B wave is valid, as B wave does not breaches the high from wave A down? Feel some bear attraction may be given by 200 EMA and more BR*X*T uncertainty this week.

4 Hour - again ABC down, but it looks like we are still in wave A down, given no significant high looks to have been made from B wave up. Price above 200 EMA, may come down for a little kiss - or much more.

Either wave, MADC, RSI and Price action and Shortterm fundamentals are bearish for me. Trade is on paper only. Sell to 1.2200 levelView attachment 267277View attachment 267278



GBPUSD looks the same as GBPJPY, same concept, same clothes, shoes and panties, only difference might be in the perfume.
 

ssam

Well-known member
264 5
GBPUSD looks the same as GBPJPY, same concept, same clothes, shoes and panties, only difference might be in the perfume.
Thank you kindly Fibo - I heed your advice.
I will have your charts up on the screen when home but will take a look at this on the train home.
 

ssam

Well-known member
264 5
Charts look good. In 4H ..... RSI, why are the trendlines topside?

For the rally your ABC proj grid should have a 161.8% around 133.

See charts that follow
RSI on top as taken the increasing RSI from the significant low and making higher high.
Thus me thought uptrend continuation, but can’t remain continually oversold for too long.
 

fibo_trader

Senior member
2,234 44
RSI on top as taken the increasing RSI from the significant low and making higher high.
Thus me thought uptrend continuation, but can’t remain continually oversold for too long.

Outstanding! I clearly see your creativity in this regard and have noticed that one of your trendlines on Macd seemed to have been placed under the historgram but when extended have produced the Macd top at exactly the trendline extension. Your explanation of the topside RSI is also interesting in this regard.

Creativity = finding new ways, Sam. Keep it up. I like your trendline concept and will look into it further.
 

ssam

Well-known member
264 5
Outstanding! I clearly see your creativity in this regard and have noticed that one of your trendlines on Macd seemed to have been placed under the historgram but when extended have produced the Macd top at exactly the trendline extension. Your explanation of the topside RSI is also interesting in this regard.

Creativity = finding new ways, Sam. Keep it up. I like your trendline concept and will look into it further.
I also like the look of a price action shown in line form to identify significant levels, but unsure whether this adds another layer of complexity.

I saw it on a YouTube video on EW and like the way it presented, albeit it may only project the candle stick ‘close’ and not the significant wicks.

I thought the concept of breaks and projections of TLs on indicators was a Fibo special.
 

fibo_trader

Senior member
2,234 44
I also like the look of a price action shown in line form to identify significant levels, but unsure whether this adds another layer of complexity.

I saw it on a YouTube video on EW and like the way it presented, albeit it may only project the candle stick ‘close’ and not the significant wicks.

I thought the concept of breaks and projections of TLs on indicators was a Fibo special.

Serendipity galore! Just yesterday I had decided to show you a stellar way to simplify wavecounting that is ultra reliable but often sooooo overlooked by wavers .............. like you said, "just using closing prices aka The Line"

My standard view is with the wicks and whole shabang. But for some time now I have taken a shine to PURE CLOSING PRICES aka LINE.

And of course all the same techniques would apply. Your trendline would go right under the closes.

There is a whole lot to be said for the psychology of WHERE THE BULL/BEAR FIGHT FOR THE DAY, WEEK or MONTH closes
 

fibo_trader

Senior member
2,234 44
Thinking outside the box:

Example: Macd & RSI accepted methods of use in all software programs and courses. Learn them all, then ignore as you research your own ways. Then run with your own findings. These are the ones that will suit your personality and most importantly are your own creation.

You're in it now, Sam. There is no going back to the HERD. You have broken out and are a lone warrior now. Since you are a Royce Gracie champion you already got no fear in the ring but in real life now when the crowd goes up against you and you find yourself all alone, you stand alone and watch the power run thru' your veins. its a whole new ballgame

If you ever get real lonely just stop paying your bills and watch what happens


All man's miseries derive from not being able to sit quietly in a room alone.
Without great solitude no serious work is possible.
You cannot be lonely if you like the person you're alone with.
I love to be alone. I never found the companion that was so companionable as solitude.
I used to think that the worst thing in life was to end up all alone. It's not. The worst thing
in life is ending up with people who make you feel all alone.


Until you get comfortable with being alone, you'll never know if you're choosing someone out of love or loneliness.



End of lecture :):):):):):):):):):):)
 

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