$GBP vs. $JPY - Moving Under Wolfe's Influence | #Forex $USD

FX:GBPJPY   British Pound / Japanese Yen

As signaled this week-end, this Wolfe Waves Pattern came across loud and clear. I would have expected a 5-prime adverse excursion as it often seen in the WW, but instead, price is moving along just fine.

This is a M15.But, dDid you see this DAILY chart:


All prior discussion on the development of both patterns can be reviewed in the TradingView's "Predictive Analyses & Forecasting Room".


Bearish per price submission to WW pattern. Stay tuned by following my posts on TradingView.com for refined predictive/analysis per model once pattern consumes itself. No charge. Pure unadulterated technical indulgences.


David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA

18 OCT 2014 - Update:

From Twitter:
$GBPJPY rallied on cue off of its TG Line; Predictive model remains bearish, though:

via @tradingview | $GBP $JPY

David Alcindor
16 OCT 2014 - Update:

Price finally reached Wolfe Waves pattern's 1-4 Line. A rallying at this level is quite possible - Following is a synopsis of the price action up to today:

David Alcindor
+1 Reply
4xForecaster 4xForecaster
NOTE: I have to say that $GBPJPY being one of the most volatile pair, the 5-prime position gave traders a run for their money.

A safe strategy here is not to run after a 5-prime position, but simply to enter at the level where price returns below the 1-3-5 Line.

A 78.6-Fib level remains open for the pattern trader seeking to enter a long position out of the Bullish Gartley pattern completion. However, this is not necessarily the type of trade I feel comfortable with, as they represent the most widely expected level of entry. Best is to seek the type of edge offered by more advanced patterns, such as this completed Wolfe Waves pattern, as of its 5-prime position. Remember: Enter safely at the 1-3-5 Line re-entry if you are not comfortable with any other possible aggressive solution.


David Alcindor
+1 Reply
IvanLabrie 4xForecaster
Sounds reasonable, would confirm the geometry before you take the trade. Great stuff.
+1 Reply
23 SEP 2014 - Note:

Daily notes, technical commentaries, lessons and pearls will be provided in the "Predictive Analysis & Forecasting" chat room. Feel free to follow these added details there (Link: https://www.tradingview.com/chat/#5eHLst6YxeVqGlaO). Only significant technical events will be posted in this present discussion thread, so as to avoid too much unnecessary technical information for the trader and chartist interested only in major technical events.

David Alcindor
+1 Reply
This pair is getting really interesting now. Whether the spike is caused by Scottish referendum bias or a start of a AB = CD pattern.
Fundamentally Yen is getting weaker, while BoE said it will raise interest rate next spring step by step.
I have a strong bullish bias for this pair as the big drop of GBP is cause by the interest rate not rising before the end of this year as many trading hoped for.

+1 Reply
KevinT KevinT
Zoomed out as weekly and you'll see there are plenty of room

+1 Reply
Hope you are fine thanks for this post david
+1 Reply
ADDENDUM - Following are cut/paste discussion/presentation on this $GBPJPY:

============= STARTING ~ 20-HOURS AGO ===============

$GBPJPY - m15:

$GBPJPY - H4: Tiny WW forming at the end of an impulse that started off of a larger WW's Point-4 - H4 chart:

$GBPJPY - DAILY: Here is the larger view of a larger WW.

Therefore, expect that the small WW completes into a lower leg, so as to help define Wave-B of a A-B-C pattern moving completion towards Wave 5 (shaded).

In other words, expect a temporary retracement to allow for the completion of the smaller WW, which is the continuation of the corrective's B Wave. After that, it's a move towards Point-5, I should expect - David

$GBPJPY - Posted in new forum as a "Worth Watching Next Week" - Link:

$GBPJPY - Visual Recap:

$GBPJPY - Bearish WW potential coming up:

1 - 3-wave down completes from top.

2 - Overhead resistance @ 174.396 represents aggressive counter-trend opp with SL > Point-B

See M15 chart:

$GBPJPY - Alternate WW at 5-Prime position ... Little steep, but probability exists:

===================== END =========================

I hope you were following that thread.


David Alcindor
4xForecaster 4xForecaster
This is the prize:


Deliberate deterioration of the $JPY may seem counter-intuitive here, but if price maintained a downward course, less plausible because plausible, then possible, and finally too late.

Only time tells the fundamentalists what technical was muttering all along.

David Alcindor
+2 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out