My Forex Prediction using Advanced GET - page 11
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Update No.2 AUDUSD
As I said in today's posting, I shall soon be locking in my profits for this currency pair.
Regards
Kenneth
Update No.3 AUDUSD and USDCAD
Although I have closed my positions for these 2 currency pairs and made a total of around 80+ pips, both these continued their trend as per the EW charts - the AUDUSD going up and the USDCAD going down.
The only pair the GBPJPY has not performed the downpath of its Primary downtrend I am still holding on.
Regards
Kenneth
Update No.4 Tracking the AUDUSD
Latest news from CNBC - Australia Economic Risk now more balanced. Read the news yourself if you want to.
No wonder the Aussie Dollar has ben quietly edging up against the US Dollar. As I mentioned in my postings over the weekend, there cannot be any sustained price movements without any economic developments to support.
If there is nothing to support any price movements, then it is pure speculative in nature and I put a question mark on its ability to sustain itself.
Remember: Economic analysis and Technical analysis go hand in hand.
Good Trading
Kenneth
Update No.5 Tracking the GBPJPY
Today you will b overwhelmed with updates from me one after another - the AUDUSD, USDCAD and now GBPJPY.
The up contra-trend should be over, and the downtrend should continue today. Take a look at your 5 min MT4 chart, the Fibonacci Ratio has now gone beyond the 100% signalling the end of the up contra-trend.
I am seeing my trade position improving.
Regards
Kenneth
Morning, Guys:
Attached are the EW charts for USDCAD, GBPJPY and AUDUSD.
Today I am turning CAUTIOUS, as there are some changes in the signs in the EW charts.
USDCAD: I have closed my position making 40 pips profit this morning. Was monitoring closely last nite. Although on a few occasions, my profit showed a maximum of 70 pips, I did not close, hoping that the American session will push it down. But that did not happen.
Too slow for my taste. It is still in a Primary Downtrend but action not fast enough – no momentum.
GBPJPY: For today, you need to turn CAUTIOUS also, as the technical signs have changed though it is still in its PRIMARY WAVE DOWN plus UK's dismal economic recovery.
You will observe in today's EW chart, WE DO NOT SEE ANY MORE THE INTERMEDIATE WAVE LABELS, as was the case in yesterday's EW charts. Why – Aget always take into consideration the latest situation.
I am hanging on but now considering closing the second order when it registers a profit. I had a few chances yesterday but was looking for the American session to push the Pound down. It did not happen. Maybe I cut my loss around 60 pips for my first order. Did not act yesterday also. Of course, with the event behind us, we can say anything to justify. Past is Past – so I am more ready what to do today.
AUDUSD: This is the only positive currency pair I saw. Like USDCAD, it can turn out to be a tortoise. I take my chance and put an order for 0.5 lot for this currency since it is in PRIMARY WAVE 5 UP. I go for intra-day. Will be happy if my profit is around 40-60 pips.
I shall update you as and when I see significant developments.
Good trading
Kenneth
Update No.6 Tracking the GBPJPY
What we saw at 7:48 pm (Malaysian Time) when the Pips to Open was down by 126 pips is, I believe, the 1st wave of attack on the Pound (as the Yen gets stronger), and there is likely to be another round of selling coming.
This opinion has nothing to do with Elliott Wave but based on experience and observation of price behaviours.
Regards
Kenneth
Tracking the GBPJPY
As a matter of interest, the Open to Low for yesterday was 277 pips meaning that if you were able to enter a Short order at the opening quote and let the market run its full day course, your profit in pips would have been at least 200-250 pips for the day.
I went to sleep much earlier at 10:00 pm (Malaysian Time) last nite, so I missed the boat.
Regards
Kenneth
Hello, Kenneth:
Though I have just joined this forum, I went through your postings since Day 1 and am very impressed with your writings.
You don't talk rubbish. I just cannot believe there are guys like you around. You not only make your recommendations but also give your logic for them. Too technical for me. Like someone said before: Are you Real, a Pro, or just a Cyberspace forex robot? Will you be asking your readers to subscribe later on when you have your own website. Please don't. No one likes it.
Sorry to be so frank.
Joe44
NOTIFICATION: ANSWERS TO EMAILS
Emails will be answered by me during weekends.
Mon-Fri we shall focus on trading. We make it our business to do forex business on Mon-Fri, as this demands our concentration.
Kenneth