The last candles I saw were a bearish hamari and a three inside down, and that was back up at 168.60. Thanks for the post nuck.

Daily EUR/JPY analysis

I tend to agree with you Tov, and I think this scenario fits 5ysfx's analysis from a few days ago, and corresponds with the hawkish comments from Japan and the overall weakening Euro. To preserve the downward channel we can't exceed about 169.25ish, ...

Daily EUR/JPY analysis

Thanks, I'm really hesitant to make a long play here given that it's so late in the trading day it's testing a lot of resistance at the moment. The highest I have it going, to keep the downward channel alive, is 169.3. It turns out, had I just held ...

Daily EUR/JPY analysis

heavy consolidation, I think we'll see a big move in one direction or another.

Daily EUR/JPY analysis

Here's what I'm seeing

Daily EUR/JPY analysis

Agreed, I think the overall direction is down. I think the max we'll see is 168.7.

Daily EUR/JPY analysis

I might be changing my mind real fast if this keeps up...lol! Edit: Just waiting for it to sink now, I think we're just going to have a consolidation zone instead of a retrace back up.

Daily EUR/JPY analysis

hmm, I still think it needs a bit of an advance up before it starts a downtrend...

Daily EUR/JPY analysis

I think our overall direction is going to be down, but does anybody think we're going to have a retrace here? I'm thinking we might hit 168.3 before moving back down again, but I don't want to incorrectly analyze the typical Friday liquidation, as a ...

Daily EUR/JPY analysis

166.15-166.3 would be the next zone it could stop in, unless it runs straight through that down to 165.3 for a full retracement.

Daily EUR/JPY analysis

Well, if he's right, then EJ will be bouncing off of the exact same 50% fib retrace line, at the exact same time (early Friday morning) as it did last week. I hesitate to think that the same scenario is going to play itself out again...the markets ...

Daily EUR/JPY analysis

look out beeeeelloooow

Daily EUR/JPY analysis

I do have to read up on chaos/harmonics though, I agree, I think you can apply both very nicely to the market. Thanks! Short term, I think we're either going to retrace back up to the trendline, or watch it fall short to the 161.8% fib...just ...

Daily EUR/JPY analysis

Which harmonic pattern is this? I was never tried spotting the Bats, Crabs, Gatley, etc...or are you using the harmonic beat frequency approach?

Daily EUR/JPY analysis

very interesting 5ysfx, thank you for sharing the analysis. I'd be happy if it moves that much for sure In the shorter term, it will be interesting to see how it reacts at the next fib level, which is right near the trendline we've been talking ...

Daily EUR/JPY analysis

How can you tell already?

Daily EUR/JPY analysis

I actually wasn't expecting it to diverge so much from the eur/usd on the news release, but I guess the short is valid.

Daily EUR/JPY analysis

Here this is what I'm talking about for those unfamiliar.

Fibonacci Spirals

So it looks like you guys are trying to develop/optimize something a strategy based on opening range breakout theory. These are used by professional traders all the time, as they give you a considerable edge, but they almost all experience sharp ...

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