Log in or register to download unlimited Forex robots!
Hello, I'm the MT4talk forum Admin.
Thanks to the All Currency Scalper Forex robot, now I earn a lot of money every day!
Double your trading account every day with the new version of the All Currency Scalper Forex robot.
Only a $100 deposit is required! Always Winning Strategy!!!
Download the: All Currency Scalper EA v19.7 + Setting File that can double your trading account every day.
USD/JPY: ABCDE Pattern; 55d AVG Key – Goldman Sachs
USD/JPY has been stuck in some kind of range of late, after a long period of gains. What do the technical levels say?
The team at Goldman Sachs offers an in-depth technical analysis for the pair:
Here is their view, courtesy of eFXnews:
USD/JPY seems to be consolidating into the 4th wave of a sequence which began in July, notes Goldman Sachs.
“There have been two highs set against 120.74-120.80 on Dec. 23rd and Jan. 2nd which if broken should ultimately suggest that the final impulsive leg higher is likely underway,” GS adds.
“For now, it appears to be an unfinished ABCDE pattern which might need to consolidate further before resuming it’s underlying trend. The 55-dma should act as important support, currently at 117.21; it has held all of the lows since the start of the current wave count in Jul. ‘14,” GS adds.
Wave 4 could develop into a triangle consolidation pattern which is an ABCDE move
Beyond this near-term price action, GS thinks that the ultimate target appears to be ~124.
“This level includes a 2.618 extension target for wave 5 (and v) of a sequence that began in ‘12 (and a minor one from Jul. ‘14). It also satisfies the target for a very large declining wedge formed off the peak in Jul. ’07 (124.14). All in all, it’s really the ideal target for one final up thrust in USDJPY,” GS projects.
“Once ~124 has been reached (and/or signs of a material top develop), it could eventual mean the end of the rally for some time and the start of a multiyear period of correction/consolidation,” GS adds.
- Total number of registered users: 73,386
- Registered users today: 8
- Newest registered user: Ziyad32
- Total number of topics: 11,747
- Total number of posts: 38,504
Online users: 2,958 guests, 124 Members:
0vi, 35267775, adgroot, admin, Aezeck, ahmed44, ahwee321, Aljax, Andiswa, angkagua, anikislam9720, antobozic, asraffbenz, beastfx123, BENEX, BENJAMIN@2018, betuboxem, brian_p_5, Bulat M Rafikov, BUNDER, cfortunato744, chaz0159, Cramia, ctrip, Dabuka2000, Dang Phuong Trinh, Dinosaurier, DJLavette, Donovan Sissing, Eagleye72, epifreak, eswarfx786, F8, Farhedge, femo, filippogaudi69, forexneto, glenmckinnie, Guelsko, HawkesburyTrader, Heckenlooper71, HMD, Houssam Haleh, ian.kungu, IB, Jamessmirnov, jianghollo, jkingtrading78, Joefrey Garcia, Jonathan Houle, Joshua Owoseho, JPKing, Jungsik Kang, Kamza22, Karthikeyan, khaimalevolency, khayotbey, khidirovAbdumurot, Lea13, live1985, luke simon, LuxTrade, Manguele, Marco Jäger, markswingle, Masixole, Mathías Coral, Max Chua, milky23, minhtuyenfx, Minsoo Seok, Mojalet, MR. Fafi, Nebby14, nov, Ntsika1999, Okiti777, pablo00plinio, peteaw72, phantom2479, Phumelele, Rabih, rakhabeletsi, roberto23, robgodfrey, Ronforex, rufruf, Sabeeb Sb, Sachin, saeedfalahati, sarasabahi, sasastephe, seandodd, sega77, shakir319, sheikabdullah, Shivansh007, skinvestor1978, star292, suares5kk, tafiye, tayeb54, Thonnie Noegraga, ThreeLions, timebrasil, tj38881, ToMy, TradeHound32, tradingralf, ucooper2, Ugotv, victortanwc168, viekaer, vrapto, wazzinaus, wuxianyan, xperya, xv16, ynsdiary, zeevlas43, Ziyad32, इंडिया अँटीवायरस डॉट इन, จีรวุฒ อินทขันตี, ซาเบ้ง ภูริวัฒ
MT4talk is a User Generated Content website. All content uploaded to MT4talk by our users (MT4talk forum members) is User Generated Content. Please note that MT4talk doesn't sell Forex robots and does not provide support for the uploaded Forex robots. MT4talk only sells PRO membership. PRO membership is unlimited download access in every forum topic and forum posts.
We testing Forex robots in REAL-TIME! We testing some robots on a demo account but in real-time. We are not financial consultants and we can't push you to risk your money. We are just trying to find good market analysis solutions from different strategies to help our community.
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS, IN GENERAL, ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Disclaimer - No representation is being made that any Forex account will or is likely to achieve profits or losses similar to those shown on backtests in this forum. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. Hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. All information on this forum is for educational purposes only and is not intended to provide financial advice. Any statements posted by forum members or the MT4talk EA Tester Team about profits or income expressed or implied, do not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold the MT4talk team and forum members of this information harmless in any and all ways.
Affiliates Disclaimer - The site may contain links to affiliate websites, and we receive an affiliate commission for any sign up that trade by you on the affiliate website using such links. Our affiliate partners includes the following: FXOpen, FBS, LQDFX, MyForexVPS.
Copyright MT4talk.com Forum Rules - Privacy Policy.