MY FOREX TRADING SYSTEM

I have been trading the fx market for 3 months now started out with 5min-15min, 1hr-4hr charts and i feel more comfortable trading with 1hr and 4hr charts i use 1hr charts to identify my entry and exit positions.. The best method of trading the fx market is developing a system that suits your personality basically i like to trade with as much as 60-120 pips daily and stopls of 30-50 pips on each currency pair that i trade..usd/jpy wave analysismy wave counts on my monthly charts began at 01/01/2005 and is currently in progress with resistances at 120.80, 128.50and 140.70 on weekly basis a 5 wave pattern is also underway that began at 14/05/2007 with major resistances at 121.15, 125.36 and 132.00 .. on daily basis which i use in defining entry and exit points. the pair is in an a,b,c corrective pattern which seems to be almost complete with major support holding at 120.80 and then the final 119.60 clearly buying at 119.60-70 with stops of 30 pips is a very huge bargain wih targets as much as 125.36 which will complete wave 3 on weekly basis..Gbp/ jpy Wave AnalysisOn my monthly charts gbp/jpy began a 5 wave pattern from 01/09/2000 and seems to be in a 5 wave pattern which now seems to be in wave 3 fibonacci expansions fromat 152.84 ,192.43 and 179.11 gives 161.8% at 251.00 resistance which currently prices have failed to breach...Down to my weekly analysis a 5 wave pattern that began at 16/01/2005 is currently at either wave 5 or 3 which seems to be complete..On my daily charts a 5 wave pattern is complete and i see a formation of an ending diagonal which might have been complete after prices failed to take out 251.00 seriously.. If my waves count are correct and prices drop below 246.00 ending diagonal support that would be a very strong signal to go short on gj with support levels at s1-243.90 s2-239.66 s3-235.99 and finally if the downtrend is too strong s5 at which as elliot said will signal the end of the correction at minor wave 4.. Trade wisely and always trade with stop losses...Eur/Usd wave AnalysisThere is no doubt that over the last month the dollar has been in so much trouble those that entered long on this pair are probably between a 200-500 pip gain but for how long can this uptrend continue? On weekly basis fibonacci extensions of 100% at 1.3815 is were prices are were prices are ranging at but with the present overbought conditions the momentum might be just dying out soon but upside risks still hold with trend line resistance at 1.3888 .. presently in wave forms it is currently in a wave 3 in weekly basis... On daily basis it is in wave 3 or 5 which is currently in progress if the trend line reistance of 1.3870 is taking out then a move to as far as 1.3967 will be in view which is 100% fibonacci extension of the move from 13/06/07 , 05/07/07 and 06/07/07... on daily charts.....Trade well Trade wisely and Trade with stop losses...!!!Lastly Gbp/usd wave analysisWell with wave patterns similar to that of Eur/Usd pair the pair is in overbought conditions with upside risks still feasible due to the weak dollar!! perception... In wave form presently wave 3 in weekly charts which as elliot said is the longest of the 5 wave patterns so upside momentum could just continue.. Weekly trend lines point at 2.0651 which could be breached!! On daily wave count it is now in wave 3 or 5 in wave pattern sequence with fibonacci extension of 100% of the move from 06/07/07, 04/07/04 and 06/07/07 at the price of 2.0637... I would strongly be watching 2.0640-2.0650 closely and anticipating a reversal at such position but if breached a continuation is expected towards 2.0740 which i seriously doubt would happen due to overbought conditions on weekly basis but we can never tell... Trade well Trade wisely and always trade with stop losses..!!