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
Support
Resistance
Trend
What else is there??
Buy at support.
Sell at resistance.
Simple stuff.
Why complicate matters?
Computer does the “hard work”. I just click the mouse. 
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 [B]SCHOOL[/B] 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 
)
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…:rolleyes:
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. :eek:
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!
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
I already have posted free eBooks.
If you search, you will find.
Since I was kidding, I didn’t put forth the effort before posting to verify whether TheRumpledOne did or did not post free ebooks or links to ebooks. But, sure; why not? How about another couple ebooks for the old file.
Mr TheRumpledOne
I want your opinion as profissional for this Chart … Is that possible for the GBPJPY ???
Thanx
Ahmad Jaradat
“Anything Can Happen”.
So the correct answer is YES, that is possible.
Simple, yet elegant.
Hi everybody,
Wish you all having a nice weekend with your friend’s and family. Since I saw this few days got some concern regarding my post, hereby I would like to give few comments :-
Overall, I’m using an Elliot Wave method to analyse any market scenario for this particular GBP/JPY cross pair. Therefore, it would be much help if you all could study and find any info regarding using an Elliot Wave in forex trading before trying to follow my analysis.
For me trading in forex by totally depends on indicators wihout knowing any market direction or market scenario would not make you becoming a successful trader. For me its like trading with naked eye.
Therefore, in my cases, I’m using an Elliot Wave technique to help me determine all the possible market scenario (alternate counts in wave) and once I recognised all the possible counts then I need to go for the 2nd step which is to analyse which count is more preferable.
Then once I decided which count that is more favourable, I shall see any good entry signal from my BSTS trading system. But since you don’t have this BSTS trading system, then I’m sure you did have a trading system that you had been using all this time and therefore you can use this system to assist you to find any good entry according to that particular choosen scenario or alternate count.
For me, there was no simple word exist in forex trading although there is only 2 possible options to choose either up/buy or down/sell. Forex is a complex world but ppl trying to simplified it by using an EA or totally trade depend on indicators or FA aspect. There are so many factors that we need to consider, re-consider and analyse before making each entry.
So I hope everybody can learn something from my forecast and one day shall becoming a successful trader.
Wish everybody a happy trading and good luck.
I disagree 100%.
TRADING IS SIMPLE BUT PEOPLE MAKE IT COMPLICATED!!
There is a whole industry predicated upon you believing trading is complex. If you knew it was simple, then you wouldn’t buy their systems, seminars, books, tapes, videos, etc… So they must convince you trading is complex and difficult.
“there is only 2 possible options to choose either up/buy or down/sell.”
Actually, the cycle is:
[B]1) WAIT
ENTER
HOLD (WAIT)
EXIT.[/B]
#2 and #4 only take a second or 2 so most of the time is spent WAITING!!
To make money in trading, all you have to do is find an edge where you have an expected value which is positive and then execute WITHOUT FAILURE.
“…Your weakness is not your technique.” - THE MATRIX
LOOK AT THIS CHART:
The lines are at prices XXX.00 and XXX.50. If you have read my thread:
http://forums.babypips.com/newbie-island/13132-all-you-need-trade-horizontal-line.html
then you know how simple trading can be.
I have the statistics for the price movement for every hour. That way, I know when to go fishing (trading) and when to wait. I know how many times the price closed above/below the current price over the last 48 hours. I know the average range and how may times the pair ranged above/below the average in the last 24 hours. There’s more information on the chart, like min/max range, but you get the point.
Since I know the pair must move and how much it moves on average, all I have to do is enter in the direction it is moving and exit with a profit at/near the average range. If the H1 candle is green, I go long. If red, I go short. That simple. I already have answered the “whipsaw” question in the other thread.
Or you can enter when the H1 candle color matches the D1 candle color. That way you are trading with the day’s trend. If you look at the stats on the bottom of the chart, you’ll see the HIGH-OPEN and OPEN-LOW range for each of the last 24 hours. Wouldn’t you be happy if you captured 50% of those pips? Of course, once the day’s range is at/near or exceeds the average day’s range, it’s time to reevaluate.
I have nothing against other systems and I have respect for those using them. Yes, I may kid them about SQUIGGLYs but it’s all in jest. As a trader, you must find what works for you and ignore what doesn’t. IT’S THAT SIMPLE.
[B][U]Gbp vs Jpy 1H, 4H & Daily Pre Market Overview [/U][/B]
Chart 1H - At this moment, I believed wave iv already completed and looking forward for a bullish continuation to complete wave v. Please noted that there is 3 possible scenario for wave v later which is either :-
Advisable to look for a good bearish reversal signal later from BSTS.
Chart 4H - Please analyse all the alternate counts and my 3 divided zones which are :-
Chart Daily - Please noted that I did some changes for yellow wave count and as long the upper green major trendline stay as a strong resistance, preferably we shall see a major bearish trend later to complete subwave c (cyan) and wave b (yellow) or wave 5 and C in magenta. Otherwise if the trendline is taken and its a true breakout, then perhaps market is favourably to alt count in white. Look carefully for any breakout to my teal triangle zones.
[B][U]Summary :[/U][/B]
Looking forward for a bullish continuation trend to complete wave v.
Wave v could be a truncated wave (magenta or yellow) or an impulsive wave (white).
Please analyse all 3 possible counts and determine which one is more favourable by applying to it with your trading system (BSTS).
Advisable to standby for a major bearish reversal trend once wave v is completed.
Good luck.
Well, maybe you are right but I don’t think everything in this link is simple Forex Training & Education: Beginner Foreign Exchange Currency Trading.
Anyway, I hope next time you can explain more details regarding your intraday forecast and preferred market direction.
have a nice day.
“Anyway, I hope next time you can explain more details regarding your intraday forecast and preferred market direction.”
I do not FORECAST. I leave that to the FORTUNE TELLERS.
I trade with the direction of the H1 and/or D1 candles. The price ranges. I take advantage of that fact.
You are probably a long term trader. I am a scalper. In/out quick.
“Well, maybe you are right but I don’t think everything in this link is simple Forex Training & Education: Beginner Foreign Exchange Currency Trading.”
It’s not about who’s right, who’s better, who’s smarter, etc…
[B]IT’S ABOUT WHAT WORKS FOR EACH TRADER.[/B]
Jeb, your analysis is helping me a lot. Elliott waves have always been for me the “twilight zone” of technical analysis, but by reading your posts here each day I am beginning to make sense of it … yes your charts at first appear to be more complicated than the electrical plans for the NY subway system, but in actuality they are really not that hard to follow. I doubt I could ever create them myself tho!
Bottom line for me is that you have been nailing the tops, bottoms, twists and turns of this elusive pair. And your explanations, although brief are at least not egnimatic and with daily visits, even a newbie can start to figure out what you are seeing … even without knowing your BSTS system which I understand requires a trip to Malaysia to learn
Since I trade the G-Y, I check your posts every day.
As to rumpledone, your “simple” charts are getting more complicated all the time, sure you only put 2 or 3 indicators on each chart but overall the count is now over a dozen indicators and with comments like ‘it should be obvious’ and ‘keep it simple’, ‘support resistence trend’ and my favorite: ‘Just like fishing, you have to know when they’re “biting”. … well maybe others can learn from that but I cannot. For example on the charts of the recent G-Y breakout that you keep posting with the pithy comments underneath … not once have you explained HOW and WHERE you knew to go long. Just "it should be obvious’. Well of course it is … after the fact!
On the thread you started “All you need to trade is a horizontal line” it would be nice to see an analysis of that breakout chart to know where you would have gotten in & why. I already know where jebatfx, james, tymen and others would get in because they have explained it clearly on their threads.
I did a google search for your free ebooks, but so far no luck finding them. I did listen to your radio interviews, links are on your site, and that was somewhat helpful but I for one need more input, if your goal here is to share your knowledge with others.
