CHF.JPY

[arco]

DB

My MS chart shows opposite to yours. (Maybe you are showing Jpy.Chf ???). The effect is similar - just need to remember which direction to trade in depending on your platform.

Anyway, heres what I have on my chart, - a potential short down to 94.50/95 perhaps. The EW count may be wrong as there are alternative counts to consider.

rgds - arco

[arco]

The action reached a low of 95.14 in line with the green
box target shown in the chart posted 12th November and
gave around 350 pips for longer term holders.

I think CY could still be under the influence of the blue Gartley
and its possble the action is setting up now for perhaps circa
1000 pips fall once we get a turn near the upper triangle line.

The green Gartley is in control until then

GTA - arco

[peat]

Thanks for that analysis arco
1000 down sounds good but if I read you right it also looks like my current stop 99.49 is within the green gartley and that upper resistance trend line.

Hmmm

Given the small size of my existing trade I could (without breaking money management rules ) consider raising the stop another hundred to allow the blue gartley to have a chance and then extend target to retain some sort of decent risk reward ratio. I'll think about this. Dont usually run with stops that large even for smallish trades.

[arco]

Hi Peat

I expect the whole up leg will be a 3 wave affair, so there is room for a retrace (and some 'short' profits) before the final 3rd leg and reversal.

arco

[peat]

I've just taken the overnite pips +77.

cheers chf.
will trade again.

[arco]

Nice one Peat

Based on the chart pattern I also took a short later
in the day with a TP of 50......had a quick look at 6.30am
to find the profit already taken - so a nice result.

Good weekend all - arco

[peat]

back to this one again - it performed technically well last time ...

a double - a 5 min gartley in yellow and a 30 minute one in purple entered short at 98.37 , stop at 98.82

i doubt I can get it right again tonite but gotta keep trying








r$2

[peat]

a maximum of 50 pips was available last night none of which I have captured , however since then has done another gartley back up to break even territory so I still remain optimistic. 3 gartleys back to back how can it not fall ?

[dumbass]

hi peat , heres dailies on chf jpy

i take it with a pinch of salt as its been pretty messy last few months and your trading much shorter time frames

theres a particularly ugly gartley in there , possibly completing d wave in a symm triangle

maybe advancing to 99 - 99.50

i m not sure if this is much help

[peat]

thanks paul
yeh those are the levels arco mentioned in post #12 which I have reread (to my consternation) since initiating this trade.
Going with my own strategies for this (as you say) relatively short time frame trade - hoping yellow and purple can help blue take over from green! maybe that 50 up for grabs last night was all it will give and I've already missed my chance, we'll just have to see.