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Monday, February 25, 2013

Elliott wave analysis of GBP/JPY

GBP/JPY

I had a request for GBP/JPY and my opinion. As can be seen on the chart above, my count shows, that we currently is in a wave 4 correction, which ideally will find support near the bottom of wave iv of one lessor degree. The bottom of red wave iv comes in at 139.18 however, a slightly deeper correction towards 137.60 should not be ruled out. Once the ongoing wave 4 is over we should see wave 5 take us higher towards at least 150.19 and likely even higher towards 153.61 and maybe even 157.07 before wave 5 is in place.

4 comments:

  1. Since you take requests once and awhile and If you're up for a challenge I'd really appreciate your long term
    wave count of the silver market.
    Thanks, Charles
    ps I only ask because I find your work exceptional

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  2. Hi Dojitrader,

    Sure I will.

    I will take a look at it later today and make a post of my long term Silver count.

    Kind regards
    EWS

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  3. This comment has been removed by the author.

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  4. Greetings! Thank you for your point of view and I very deeply appreciate your opinion.

    ReplyDelete