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Dragon Riders GBP/JPY

  • #26,141
  • Jul 28, 2017 9:49am Jul 28, 2017 9:49am
And no-one can say where is going to go before it go out this pressure triangle.
Bulls and Bears are dancing.
The question you have to ask is which one is going to be absorb ?
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  • #26,142
  • Jul 28, 2017 9:50am Jul 28, 2017 9:50am
Quoting karasinga
{quote} No objection partner....."One of the most fundamental truth about financial markets is 'anything can happen' ". Mark Douglas.
No problems I just wonder how you may think it will go lower now ?
  • #26,143
  • Jul 28, 2017 12:11pm Jul 28, 2017 12:11pm
Quoting Onizuka
And no-one can say where is going to go before it go out this pressure triangle. Bulls and Bears are dancing. The question you have to ask is which one is going to be absorb ? {image}
buy low and take simple profit maybe the best choice for GBP against most currencies at the moment. next week gbjp should go down first to 144 area as I am waiting to buy gbp.
  • #26,144
  • Jul 28, 2017 12:17pm Jul 28, 2017 12:17pm
but weekly chart says bearish (gbjp). so be carefull
  • #26,145
  • Jul 28, 2017 8:06pm Jul 28, 2017 8:06pm
It's gonna go down I have a signal at H4 chart to short but the bastards just stopped me out to the dot. The real stop should be above 146.60 since that's the last fractal high. But it's too huge for risk reward. Gonna see Monday or Tuesday if I can have a re-entry to short. Also, notice GU is going up but GJ did not move with it? It's very weak. So when GU retrace down next week it's going to follow UJ down. Just my IMHO.
  • #26,147
  • Jul 29, 2017 3:47am Jul 29, 2017 3:47am
So many ways to interpret the markets... By using only 2 indicators.. Just a couple of ways to look at the market;

1: long term (4 hours) Market could be in retracement after the big upwards move from 11th of june till 12th of july. After testing the 38.2% Fib level it bounced pretty severly, looking to going down again last couple of days, but finding buying strength around 23.6% Fib level. (all candles with exception of the last one touching this level.
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2: long term (4 hours) different perspective. Market reversed on 147.700 level (just below previous high in the market (10th of may) and starting descent down. After significant move market retracing to 61.8% where resistance is found once again. Move downwards continued, just to find resistance at 38.2% retracement level. (previous low points where reversal set in on multiple occasions)
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3. Based upon option 1, market is heading back up with retracement hitting 61.8% just to continue move upwards to 147.700 again.
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Just curious of the thoughts of other members of FF on this longer term outlook. and which scenario is most likely and why? Thx!! please don't use this to trade, i am just a beginner and have no intention to change the outlook of anyone on this forum, just sharing for exchanging knowledge

Thanks! Have a great weekend all!
  • #26,148
  • Edited 9:50am Jul 29, 2017 9:25am | Edited 9:50am
Quoting thejerre
So many ways to interpret the markets... Just curious of the thoughts of other members of FF on this longer term outlook. and which scenario is most likely and why? Thx!! please don't use this to trade, i am just a beginner and have no intention to change the outlook of anyone on this forum, just sharing for exchanging knowledge Thanks! Have a great weekend all!
Allow me to give my 2 cents. Trying to check all possibilities before hand... Is it possible market may do differently? yes and that will be it! life goes on. Don't get married to the market, anything can happen

long term view
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short term view
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"just sharing for exchanging knowledge". best wishes
It is not over until I win
  • #26,149
  • Jul 29, 2017 10:13am Jul 29, 2017 10:13am
Quoting thejerre
So many ways to interpret the markets... By using only 2 indicators.. Just a couple of ways to look at the market; 1: long term (4 hours) Market could be in retracement after the big upwards move from 11th of june till 12th of july. After testing the 38.2% Fib level it bounced pretty severly, looking to going down again last couple of days, but finding buying strength around 23.6% Fib level. (all candles with exception of the last one touching this level. {image} 2: long term (4 hours) different perspective. Market reversed on 147.700 level (just...

Hello mate, good reasoning. i am with you on 1 -and -3 though it doesn't look it at the moment. See below
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i have tried to start trades with a trend, now i prefer to follow the trend
  • #26,150
  • Jul 29, 2017 10:27am Jul 29, 2017 10:27am
Quoting karasinga
{quote} Allow me to give my 2 cents. Trying to check all possibilities before hand... Is it possible market may do differently? yes and that will be it! life goes on. Don't get married to the market, anything can happen long term view{image} short term view{image} "just sharing for exchanging knowledge". best wishes
hai,

if you dont mind, i have a question for you, are you using supply and demand to o those zones?

cheers
ian
  • #26,151
  • Jul 29, 2017 1:35pm Jul 29, 2017 1:35pm
here is even longer picture, daily. Pick your pill, red or green, I take green, just because Monthly looks like red is tested, and so on, but who knows and can change my mind, but I do have to say that earlier this week, it was weird up move, when thinking volume analysis, it was like there was selling going on every day and still price went three days up. anyways, lower timeframes and so on..

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  • #26,152
  • Jul 29, 2017 1:44pm Jul 29, 2017 1:44pm
and usually third bounce from trendline is powerfull but watch that third bounce in this up move, it did not take out earlier top, of course that can happen later but for now up move looks really weak and that is just what I think, and it is not ultimate truth, lol
  • #26,153
  • Jul 29, 2017 1:47pm Jul 29, 2017 1:47pm
like this

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  • #26,154
  • Jul 29, 2017 2:15pm Jul 29, 2017 2:15pm
and H4 possible scenario

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  • #26,155
  • Jul 30, 2017 12:33am Jul 30, 2017 12:33am
Quoting ianynda
{quote} hai, if you dont mind, i have a question for you, are you using supply and demand to o those zones? cheers ian
yes
It is not over until I win
  • #26,156
  • Jul 30, 2017 10:51am Jul 30, 2017 10:51am
What's everyone's thoughts for this week?

i think a possible move up to 145.500 then I think we could be looking at a downwards movement to 143.885 where we hit a support level.. could this be broken?

interested to hear everyone's thoughts
  • #26,157
  • Jul 30, 2017 5:42pm Jul 30, 2017 5:42pm
TP1 145.798
TP2 146.315
Trade-with-my.system
if you my trade,My-post analysis, subscribed to ME
  • #26,158
  • Jul 30, 2017 6:01pm Jul 30, 2017 6:01pm
Quoting maflip
After yesterdays short took profit at support. Then H4 broke below support. Short re entered with small stop. Today is Friday who knows maybe I'll get stopped out. {image}
I have this crazy feeling it's going to hit my TP1 today. hah hah. Problem is they stopped me out to the dot last Friday. Oh well, UJ short is still working out. Well, If I can get an M5 setup short i'll take it. As long as TP1 on H4 is not yet hit. However, above 145.80 now reverses the situation to the bulls.
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  • #26,159
  • Jul 30, 2017 6:13pm Jul 30, 2017 6:13pm
I take 3 short last friday as well already take 60 some pips out and let one run with 40 pips TS
Now time to go to the bed.....
happy trading
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Stay GREEN my friends........
  • #26,160
  • Jul 30, 2017 6:17pm Jul 30, 2017 6:17pm
Quoting alexforex541
I take 3 short last friday as well already take 60 some pips out and let one run with 40 pips TS happy trading {image}
Hey good for you. Me, currently flat. UJ is still going down and GU at resistance. If GU can't break up this resistance. GJ going down baby.
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