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Dragon Riders GBP/JPY

  • #25,161
  • Jul 3, 2017 9:18am Jul 3, 2017 9:18am
Don't think it will reach 148 today looks like it can not break day high 146.830
  • #25,162
  • Jul 3, 2017 9:26am Jul 3, 2017 9:26am
MPC Member Haldane Speaks at 12:30pm CST. This is a high impact news event that based on my chart will probably push us through that resistance. However, I believe we will see a bounce at 148. It probably won't be a full reversal, but it will at least be a bounce.
  • #25,163
  • Jul 3, 2017 9:31am Jul 3, 2017 9:31am
Quoting Johankort
Don't think it will reach 148 today looks like it can not break day high 146.830

Just did break Day high and climbing slowly .....
Stay GREEN my friends........
  • #25,164
  • Jul 3, 2017 9:32am Jul 3, 2017 9:32am
Quoting alexforex541
Watchlist - GJ approaching 148 - a historical price level.
Yes 148 is a resistance area, but keep in mind that the Dragon could easily break it and never look back...
  • #25,165
  • Jul 3, 2017 9:34am Jul 3, 2017 9:34am
Quoting Mr Breakout
{quote} Yes 148 is a resistance area, but keep in mind that the Dragon could easily break it and never look back...
yes it`s possible when it will then plan B ...
Stay GREEN my friends........
  • #25,166
  • Jul 3, 2017 9:40am Jul 3, 2017 9:40am
Quoting alexforex541
when it will then plan B ...
I hope Plan B is not : Pay the margin call!
Just kidding.

Rising wedge on the 1-min chart, this is usually a bearish formation so watch out for any possible breakout folks.
Attached Image (click to enlarge)
Click to Enlarge Name: image.png Size: 145 KB
  • #25,167
  • Jul 3, 2017 9:41am Jul 3, 2017 9:41am
Quoting alexforex541
{quote} Just did break Day high and climbing slowly .....
Not yet. It is a break for me when the candle is closed higher than the previous high on the 1 hour candle or higher time frame.
  • #25,168
  • Jul 3, 2017 10:01am Jul 3, 2017 10:01am
Quoting Mr Breakout
{quote} I hope Plan B is not : Pay the margin call! Just kidding. Rising wedge on the 1-min chart, this is usually a bearish formation so watch out for any possible breakout folks. {image}
Plan B is to ad more longs to my existing ones (start from 145.3).....
Stay GREEN my friends........
  • #25,169
  • Jul 3, 2017 10:10am Jul 3, 2017 10:10am
Quoting alexforex541
{quote} Plan B is to ad more longs to my existing ones (start from 145.3).....
Excellent then, adding to winning positions is still THE best way to turn a modest capital into a substantial one, playing with the house's money so to speak.
  • #25,170
  • Jul 3, 2017 10:17am Jul 3, 2017 10:17am
Quoting Johankort
{quote} Not yet. It is a break for me when the candle is closed higher than the previous high on the 1 hour candle or higher time frame.
Exellent mate higher TF always give us more confident and confirmation but about 20 min. we will find out what`s going to happens in the nearest future....
be cautions RED NEWS Coming.....
Stay GREEN my friends........
  • #25,171
  • Jul 3, 2017 10:18am Jul 3, 2017 10:18am
Quoting Mr Breakout
{quote} Excellent then, adding to winning positions is still THE best way to turn a modest capital into a substantial one, playing with the house's money so to speak.
yes this is what I do....
Cheers
Stay GREEN my friends........
  • #25,172
  • Jul 3, 2017 10:34am Jul 3, 2017 10:34am
Quoting alexforex541
Watchlist - GJ approaching 148 - a historical price level. Also 261.8 fibo level . I start building my short positions.... {image}
Dude, at least have the courtesy quote the original submitter if you do not have the time to post your own charts.

https://www.forexfactory.com/showthr...3#post10047133
Fall seven times, stand up Eight! #GGMU
  • #25,173
  • Jul 3, 2017 10:36am Jul 3, 2017 10:36am
Quoting Mr Breakout
Rising wedge on the 1-min chart, this is usually a bearish formation so watch out for any possible breakout folks.
We now have a possible breakdown in progress from that rising wedge pattern (see chart just above)...
  • #25,174
  • Jul 3, 2017 11:15am Jul 3, 2017 11:15am
Quoting Mr Breakout
{quote} We now have a possible breakdown in progress from that rising wedge pattern (see chart just above)...
Yep, it looks that way.

Never underestimate these smaller 1-min time frames, they obey to the same exact technical analysis principles than the higher time frames.
Attached Image (click to enlarge)
Click to Enlarge Name: rs1.png Size: 155 KB
  • #25,175
  • Jul 3, 2017 11:44am Jul 3, 2017 11:44am
Quoting Mr Breakout
{quote} Yep, it looks that way. Never underestimate these smaller 1-min time frames, they obey to the same exact technical analysis principles than the higher time frames. {image}
It's called noise... lol
I'll pick up the crumbs don't need the whole pie
  • #25,176
  • Jul 3, 2017 12:32pm Jul 3, 2017 12:32pm
Quoting Quickiepip
{quote} It's called noise... lol
Nope, I call them trading opportunities.

You can make $500 a week just with these small time frames alone (1-m and 5-min) : 10 pips here, 15 pips there, it adds up very quickly, and all that with very limited risk.

Now try to do that with a weekly time frame and a 350 to 500 pip stop.
  • #25,177
  • Jul 3, 2017 12:59pm Jul 3, 2017 12:59pm
Yen is trying to break today's high.
  • #25,178
  • Jul 3, 2017 1:13pm Jul 3, 2017 1:13pm
Quoting Mr Breakout
Yen is trying to break today's high.
So far no takers at today's high...
  • #25,179
  • Edited 6:40pm Jul 3, 2017 1:41pm | Edited 6:40pm
Long GBP/JPY at 146.80, 35 pip stop.
  • #25,180
  • Edited 3:11pm Jul 3, 2017 2:59pm | Edited 3:11pm
Here is an idea to explore : buy GBP/JPY but only if both GBP/USD and USD/JPY are above the same simple moving averages, like 20, 50 and 100 for instance (and vice versa for short GBP/JPY positions).

This will at least insure that the Dragon is in sync with the two main currency pairs that are supposed to move "him" in the first place, up or down.

The same idea could also be applied to other highly correlated currencies.
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