GBPJPY Monthly

EU hits Monthly Control 61.8 MM

EU today extended its bearish run to hit the Monthly Control 61.8% measured move for Nov.

EU Monthly Measured Move Realized

The Oct 100% MM from Nov high to today's low.

At 61.8 PMMM projected from CLOM.

We see in this pic the result of price hitting and finding Res yesterday at a larger swings 50% level. We find that by looking at the 4Hr chart with the monthly pivots. In the VIDEO MONTLY PIV you get an overview of what may come this month. In the VIDEO WEEKLY PIV you see the corrective range for the week. In the final VIDEO DAILY PIV  you see how price rejected the 50% Res level and quickly hit the 100 PDMM and eventually the 150 PDMM.

This is a very good example as to how and why I follow the multi time frame pivot levels and overall market structure. This view gives me a better idea of what I can expect each and every trading day.

In this pic we are looking at setting up the PMMM to use for the current month. This VIDEO talks you though the setup.

This pic shows the Sept Fib Pivots and targets being hit. This VIDEO describes some of the action.

This pic is an example of the fib pivot strategy applied using the monthly levels on the GBPJPY 4Hr chart. This VIDEO walks you through the month.

This pic of the 1Hr chart with weekly and monthly pivots describes what I see in the current market and a little of what I am expecting.

EURUSD has been gradually trending up. Much of this move has been laid out in early march using harmonics. In this pic we see some targets for the remainder of this week and into next. I do expect a short correction back to the new weekly pivot level before EURUSD continues long.

The harmonic pattern in this was setup in March 09. The fork was added in early May. Currently I am looking to see if the weekly close will be above the 61.8 retracement of the 2008 yearly range. We could be off to the races for  1.5243.
Currently I'm watching 1.4840 as it is the current weekly R2 level.

The August 100 PMMM level was hit meaning another successful setup that has played out.

The new monthly levels for Sept are show with targets.

Looking at the monthly fib pivots here we have the 50 PMMM projected from previous months close being hit. This is in confluence with the 88.6 PMMM projected from the monthly low.