Posts from — November 2009

Hi All,

The GBPUSD formed a ABCD pattern at the 110% level on Friday and rallied up, this was one day short of my prediction for a turn in time as well. As the markets don’t trade on Saturday I took Fridays level to be the one at 110% of AB.

We now have the potential for a move up until around the 4th of December. The three levels I will be interested in are 1.66441,1.66976,1.67460 on or around the 4th of December

I promise you that this will be the last one tonight!!!

Regards,

Mike Haran

Hi All,

The .78 level failed to hold the market, and we did go lower to 162% of the AB leg. I was up for the fall, a little bit sad that my predicted level had failed, but as a trader I know that all my predictions are only predictions NOT FACT until after the event. I cover a lot of how to predict these levels in my course. What this means now is that we are in for a potential ABCD correction upwards, or some form of complex correction going sideways. I have put some date of where to expect a turn in time. If the market does what it often does, we could see a retrace upto one of these levels:
146.181,147.80,150.189. I would expect that correction to be over on or around the 6th of December, so only get interested in these levels as the time approaches. The next move after that could be a down move to around 131.79 or 128.36, again I am interested in these levels close to the 19th of December 2009.

The correction will either be a complex wave form that is hard to predict or a simple ABCD move that we might be able to catch the top to a couple of points. We have to see what the market throws to us next week.

Kind Regards,

Mike Haran

Hi All,

The USDJPY fell through the .786 level of the last swing. So where is it potentially going to stop, I have done some time calculations and I have a turn in time estimated for the 3rd December 2009, turns in time are like turns in price, you don’t know its right until after the fact. You can even wait a while to see if the level holds. Getting in late on these moves is not an issue as the moves are going to be big anyway.I have 2 levels on or around the 3rd of December to look at these are 84.189 and 83.740. They are valid from the 3rd onwards, if the market goes lower then the estimate before the time, then they are invalid levels and I ignore them. When these levels work the market will react within 20 points. If the market stalls at these levels like it did on the .786 level then its a bad sign. You want to see a reaction against them. I have also marked the last low the USD hit against the JPY back in April 1995 at 79.940, already the Bank of Japan are grumbling about the weak dollar.

Best Regards,

Mike HAran

The GBPJPY has had a really dramatic move down today on Thanks Giving. No doubt a lot of stops would have been taken out today. Here I was thinking that we would be in for a quiet afternoon sat twiddling my thumbs.

The GBP is in an uptrend against the Yen on the larger time frame, so provided the last low remains intact at 139.635 then we could see a move that exceeds the previous high at 163.139. Entry is 142.58 or as close as you can get, stop no lower that 139.547. If the uptrend is to continue, this low should not be exceeded. A lot of you ask me how I actually make these predictions, and, because so many people have asked, I have made and eBook that deals with the way markets move and how you can learn to make these predictions in any market and any time frame.

I have also included a section on how to control risk so that you are always trading at your maximum and risking the absolute minimum. I also show you how to get a free trade that can only make you a profit, but no loss. This alone is worth the cost of the book and will ensure no more sleepless nights.

You will be able to identify high probability reversal zones using micro stops of 10 pips or even less. Drop me a line if you are interested.

All the best

Mike Haran

The USDJPY is in a critical position at the moment, we are right on a support
line that was last bounced on back in December 2008. The question is will it
hold now? I have an ABCD pattern that formed that just might give us our
reaction to move the dollar up against all the negative news.

Please check my diagram below by clicking on the image, then choose a larger size if necessary (it will open in another browser window).

Tommorrow is Thanks Giving in the USA and there is the possibility that we could see some dramatic moves as the UK traders push the market about the place stop triggering. What I would like to see is a reaction here and then look to position yourself for the counter trend, so that you can get into the move on the third wave which is usually the best one to be on.

If we get a move here I would look to hold until the 3rd of December.
My target is 96.61, but if it does not get there by the 3rd then I will revisit
the analysis. Be aware that tommorrow could be volitile, with lots of stop running.

Happy Thanksgiving to our North American readers.

All the best,

Mike Haran

If you are trading the Dow we had a potential top that saw a reaction off the 110 level, this was predicted before the fact, but I didn’t get round to posting this until now sorry. Next time I promise to do this quicker.