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Dragon Riders GBP/JPY

  • #28,961
  • Aug 14, 2018 5:05am Aug 14, 2018 5:05am
It's forming a correction from 140.20, but I think once that's done it will keep depreciating.
  • #28,962
  • Edited 8:39am Aug 14, 2018 7:44am | Edited 8:39am
Quoting chipsngravey
{quote} Hi GJ,could you tell me a bit more please on spotting this outside price action before London?, i know my profile say's junior member.........don't let that fool ya!. I've been following GBP/JPY for about five years now, but have never heard of the 'Holy Spirit Trade' before you mentioned it, so the last two night's i've tried to follow an check it out. I say night's because i'm in the UK, so 16.41 to you is 22.41 for me, i'm gobsmacked mate at the results, just as you said!. My preferred way is to look,listen and learn,always open to something...
Chips and gravy sounds do good

Gotcha....Tokyo sends the price 40 pips one way then reverses it......that's the main skill.....

4:41 PM Dallas time is the hint........so the number one rule of the 6:41 Tokyo Holy Spirit trade is to enter at 5:41....... But I go by that 4:41......for the hint

The next outlier rule is .53 minutes after the hour seems to pop the price action......on many different times.

More brb......the pip moves go in sets of 11.....24.....39....65.....95 plus ......if it goes past 65 it will hit 95 or more....140 today 140 sactly.....

That Move from Tokyo into London......

I don't see that thing I call outside price action till 1:30 am. My time....I'm GMT minus 5......2 am....2:30, 3am.....tops is 3:30 am Dallas time, central, but In late Tokyo the main reverse for the day is at 11:30 pm Dallas.

Outside PA is when ya go along with a 1H chart, a 15M or a 5 M...and the price bars are behaving and staying in a channel somewhat...then , and it's always very near a 30 minute mark on your wristwatch, the price bars will go outside the boundaries a bit and make a line...or a spikey thing, and that's the best to reverse entering a trade with all ya got and a 6 pip stoploss.....maybe scale in.....more to post in a minute...... I'm beat up by NY here now cause I'm stubborn long...6% drawdown on the previous day's profits.......so it's my money I guess I'm drawing down hehe...long for 149....144 maybe
  • #28,963
  • Aug 14, 2018 10:09am Aug 14, 2018 10:09am
I know what you mean buddy, i was long at the start of last week and made a rookie mistake,i was getting carried way on the five minute chart and forgot to check my other/longer time frames(which i never normally do), and being stubborn too, i held, but in the end i had to give in and close five close proximity trades.......OUCH!.But like i said mate, i'm never too old to learn from a mistake ,as long as you learn from it,get over it and then move on. Also on the reply, thanks for the breakdown on the 'Holy Spirit Trade', i will be watching this unfold from now on if i can,stayed up all last night just to prove you wrong and then, WHOOA, there it goes!, i should never have doubted you mate. Only trouble is now is that means i'm gonna be up all night again tonight!........no rest for the wicked i suppose.........cheers and have a good one.........Chip.
  • #28,964
  • Aug 14, 2018 3:58pm Aug 14, 2018 3:58pm
my GJ plan for the up coming weeks.

1- wait for it to retrace up to 142.9x ~ 143.7x area ( I wouldn't buy honestly even I know it will go up but risky for me )

2- open a short at the area I mentioned above

3- ride a new down wave below 140 level which might be targeting area between 137.xx~138.7x area

4- close all short positions

5- open long in 137.xx area and the target will be open but for sure it will be huge target

good luck guys
  • #28,965
  • Aug 14, 2018 8:23pm Aug 14, 2018 8:23pm
Quoting msniper
my GJ plan for the up coming weeks. 1- wait for it to retrace up to 142.9x ~ 143.7x area ( I wouldn't buy honestly even I know it will go up but risky for me ) 2- open a short at the area I mentioned above 3- ride a new down wave below 140 level which might be targeting area between 137.xx~138.7x area 4- close all short positions 5- open long in 137.xx area and the target will be open but for sure it will be huge target good luck guys
Excellent strategy...peace bro
  • #28,966
  • Aug 14, 2018 8:27pm Aug 14, 2018 8:27pm
Quoting chipsngravey
I know what you mean buddy, i was long at the start of last week and made a rookie mistake,i was getting carried way on the five minute chart and forgot to check my other/longer time frames(which i never normally do), and being stubborn too, i held, but in the end i had to give in and close five close proximity trades.......OUCH!.But like i said mate, i'm never too old to learn from a mistake ,as long as you learn from it,get over it and then move on. Also on the reply, thanks for the breakdown on the 'Holy Spirit Trade', i will be watching this...
And yesterday NY sent it on up from the support it going down at 140.24....then the sp ike up to 142.50 was London and let it fall from there all the way back do it can be done again...from 141.07 the first time andt rightnow from 141.01.....cool
  • #28,967
  • Aug 14, 2018 11:09pm Aug 14, 2018 11:09pm
My posts June 7 and July 25 still hold. Refer June 7 for the chart.

July 25 stated " Overall structure per my post June 7 still intact following what MAY have been a C wave to 149.3. Finally dropped out of the weekly ichimoku cloud. Now testing the daily cloud. Over about 147.5 negates medium term structure again. Still needs fall below previous low. After that, targets approx .618 of height, parity with height and 1.618 of same".

Height and other figures I couldn't be bothered typing at the time. Assumed if anyone was interested they'd do it for themselves.


Height was approx 1340 pips. 0.618 of height compared with centre and last price hit was 141.1 ish (149.2 minus 828). Parity equates to 136. Parity times 1.618 is circa 128.
  • #28,968
  • Aug 14, 2018 11:53pm Aug 14, 2018 11:53pm
Nice update MPT.
  • #28,969
  • Aug 15, 2018 2:14am Aug 15, 2018 2:14am
Correction is still developing for the moment, I wouldn't be surprised to see it reach 142.00.
  • #28,970
  • Aug 15, 2018 4:10am Aug 15, 2018 4:10am
How about you go long and I go short...
  • #28,971
  • Aug 15, 2018 7:23am Aug 15, 2018 7:23am
it's a battle on 140.25
  • #28,972
  • Aug 15, 2018 4:06pm Aug 15, 2018 4:06pm
Now, looking at 139.15
  • #28,973
  • Aug 15, 2018 5:16pm Aug 15, 2018 5:16pm
Quoting mah.sarah
Now, looking at 139.15
Yes. we are looking at a large drop to 139.00
Just 20 pips a day to riches
  • #28,974
  • Aug 15, 2018 6:02pm Aug 15, 2018 6:02pm
Quoting FastPipn
{quote} Yes. we are looking at a large drop to 139.00
Hey, partner poster....
I just noticed and wanted to post man.....from the 139.90 bottom lies an up move on the 15M.......with a continuing tea cup and handle rather textbook looking
  • #28,975
  • Aug 15, 2018 10:59pm Aug 15, 2018 10:59pm
According to my H1 and H4 charts there is still 1 more down move to come. My plan for today: Sell all rallies for 20 pips with a 10 pip Sl.
10 000 to 100 000 Return This Month: na
  • #28,976
  • Aug 15, 2018 11:17pm Aug 15, 2018 11:17pm
GBPJPY 15m : 61,8F,bearish gartley,b.divergence,rsx OB.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15.png Size: 90 KB
  • #28,977
  • Aug 16, 2018 3:41am Aug 16, 2018 3:41am
Quoting mah.sarah
How about you go long and I go short...
I tend to avoid trading against the trend, even if there's a correction.
  • #28,978
  • Aug 16, 2018 5:55am Aug 16, 2018 5:55am
GBPJPY, +50p.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 93 KB
  • #28,979
  • Aug 16, 2018 12:54pm Aug 16, 2018 12:54pm
Hey riders...the price bars have gone done and broke through the side tine of the pitchfork....free and clear of it holding up high like it has...that's how ya know I was thinking boutcha

140.92
  • #28,980
  • Aug 16, 2018 11:28pm Aug 16, 2018 11:28pm
Quoting ricmi
GBPJPY, +50p. {image}
Great analysis. If drawn correctly the Gartley is one of the most effective patterns.

Difficult today to pick a direction with the hourly being so flat.

If we break yesterdays high I can only see it going up.

I won't be surprised to have a weekly close around 140.75.
10 000 to 100 000 Return This Month: na
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