Go Back   BabyPips.com Forex Forum > The Currency Spot > "Currency Crosses" > GBPJPY
GBPJPY Discuss market action in the British Pound versus the Japanese Yen.

Welcome to the BabyPips.com forum!

You are currently viewing our boards as a guest which allows you to view the discussions, but prevents you from contributing. By joining our FREE community you will be able to do all of the following:

  • Post topics & responses to other discussions
  • Communicate privately with other members (PM)
  • Respond to polls
  • Upload content
  • Post comments on our blogs
  • Contribute on our Forexpedia

Registration is fast, simple and absolutely free so please, join our community today!

If you have any problems with the registration process or your account login, please contact us.



Reply
 
LinkBack Thread Tools Display Modes
  #221 (permalink)  
Old 05-23-2008, 12:29 PM
Jebatfx's Avatar
Master Contributor and Member
 

Join Date: Feb 2008
Posts: 461
Send a message via Yahoo to Jebatfx
Default



Due to the breakout of my previous retracement critical line, I have to recount the possible wave and came out as stated in the updated chart. I believed wave iv will be completed soon and preferably there will be a bullish continuation trend to complete wave v either a truncated or an impulsive wave.

Therefore, please look any good signal for a bullish continuation trend and later (favourably by next week) for a bearish reversal trend after completion of wave v. Happy weekends

Last edited by Jebatfx; 05-23-2008 at 12:33 PM.
Reply With Quote
  #222 (permalink)  
Old 05-23-2008, 01:14 PM
Banned
FX-Men Honorary Member
 

Join Date: May 2008
Posts: 1,029
Default



Support

Resistance

Trend

What else is there??
Reply With Quote
  #223 (permalink)  
Old 05-23-2008, 04:51 PM
Banned
FX-Men Honorary Member
 

Join Date: May 2008
Posts: 1,029
Default



Will support hold at this level?

See the attached PDF.
Attached Files
File Type: pdf KidWithARuler.pdf (374.2 KB, 6 views)

Last edited by TheRumpledOne; 05-23-2008 at 05:05 PM.
Reply With Quote
  #224 (permalink)  
Old 05-23-2008, 05:53 PM
Banned
FX-Men Honorary Member
 

Join Date: May 2008
Posts: 1,029
Default



Buy at support.

Sell at resistance.

Simple stuff.

Why complicate matters?

Computer does the "hard work". I just click the mouse.
Reply With Quote
  #225 (permalink)  
Old 05-23-2008, 06:19 PM
Sweet Pip's Avatar
Superior Master Contributor and Member
 

Join Date: Nov 2007
Location: BC, Canada
Posts: 807
Default

Quote:
Originally Posted by 4xStar View Post
Is there any commentary for the chart below?
For instance, what do all those large numbers mean?
TheRumpledOne doesn't say much ...he's too cool and tries to let the charts speak for themselves : However he forgets he is in a Forex SCHOOL forum where the obvious is not so obvious to all yet.

However, when I saw that post I was going to post a chuckle ... it is such a drastic comparison between his (simple) and jebatfx's (complicated)... I mean you gotta admit when you look at jebatfx's charts, like PipHacker said, "It gives me a headache"

(No offense jebatfx...I'm sure it works for you )
Reply With Quote
  #226 (permalink)  
Old 05-23-2008, 06:51 PM
Banned
FX-Men Honorary Member
 

Join Date: May 2008
Posts: 1,029
Default

Has nothing to do with "cool".

Saying something once is enough.

People can reread. That's how they learn, through repetition.

"A picture is worth a thousand words" and a chart may be worth a thousand pips.

I'm not posting to show any disrespect to Jebatfx. I am posting to contribute to the thread topic. I am sure I'll learn something from Jebatfx's posts. I asked Jebatfx if those indicators were free and haven't heard a response.
Reply With Quote
  #227 (permalink)  
Old 05-23-2008, 07:01 PM
Sweet Pip's Avatar
Superior Master Contributor and Member
 

Join Date: Nov 2007
Location: BC, Canada
Posts: 807
Default

Quote:
Originally Posted by TheRumpledOne View Post
Has nothing to do with "cool".

Saying something once is enough.

People can reread. That's how they learn, through repetition.

"A picture is worth a thousand words" and a chart may be worth a thousand pips.

I'm not posting to show any disrespect to Jebatfx. I am posting to contribute to the thread topic. I am sure I'll learn something from Jebatfx's posts. I asked Jebatfx if those indicators were free and haven't heard a response.

Well, I thought it was humourous ...wonder what jebatfx thinks...
Reply With Quote
  #228 (permalink)  
Old 05-23-2008, 08:20 PM
Banned
FX-Men Honorary Member
 

Join Date: May 2008
Posts: 1,029
Default

There's an entire industry built on making you believe trading is complicated.

They sell books, tapes, videos, seminars, programs, systems, etc...

(DISCLOSURE: Yes, I have 2 eBooks that are sold. By they made me an offer I couldn't refuse! All I did was write the books, they handle all the rest.)

The only way they can stay in business is by keeping you baffled.

Then I come along and proclaim you don't need SQUIGGLY LINE indicators or complex systems to trade. BLASPHEMY! Not to mention post indicators and systems for free. Talk about upsetting the applecart.

The fact is you can take just about any system that gives you an entry trigger and have winning trades.

Funny thing is, BEFORE you enter a trade, you should already know your TP and SL. All you have to do is wait for one or the other to be hit. IT'S THAT SIMPLE!
Reply With Quote
  #229 (permalink)  
Old 05-23-2008, 10:13 PM
Andrewunknown's Avatar
Superior Master Contributor and Member
 

Join Date: Dec 2007
Location: The United States of America
Posts: 549
Default

I'm a self-described graduate from newbie-school going sometime back, so maybe that disqualifies me from commenting, but Jebat's charts aren't difficult to unpack, and just about everything on them that is most pertinent can be determined and drawn by educating oneself via resources that shouldn't cost you a dime.

It's not complicated - he just keeps contingent paths (possible futures, basically) and wave counts on his chart, causing it to appear very busy. I think switching from a OHLC bar to candlesticks would thin things out a bit. His intention doesn't seem to be to obscure what's going on; but I don't know if he's tried to modify his charts for more accessible presentation....

The levels ("critical bearish scenario", etc.) he attributes significance to seem to be something proprietary based off of his comments, but you can do just as well using non-proprietary studies that can be self-taught and deployed without any demand but time investment and discipline.

You're certainly right, TRO, and while I like some of those "squiggly lines" and there's nothing wrong with trading with them, at bottom this is all pretty simple. It's just a matter of learning certain lessons (e.g. "hey, this doesn't have to be hyper-complicated to work!") that teach you that before you do yourself in.


Now. If you really want to build up some integrity, why not set up a link to share those e-books? J/K

Last edited by Andrewunknown; 05-23-2008 at 10:15 PM. Reason: word omitted
Reply With Quote
  #230 (permalink)  
Old 05-23-2008, 11:33 PM
Banned
FX-Men Honorary Member
 

Join Date: May 2008
Posts: 1,029
Default

I already have posted free eBooks.

If you search, you will find.
Reply With Quote
Reply



Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Forum Jump


All times are GMT -4. The time now is 08:09 AM.
Content Relevant URLs by vBSEO 3.2.0
"You must do the things you think you cannot do."
Eleanor Roosevelt