Dragon Riders GBP/JPY

200 SMA, look like resistance not able to move..i just took short @ 142.380

Ronda , bad form like your fighting. No wonder most hate you on here because your attitude is horrible.

Ppffttt.....I blocked this orphan a while ago for the same reasons....

This drop is not over yet for GBPJPY, GBP in general still has more downside coming these days. Last day of the month often provides liquidity, this mornings turn already shows that there is room for more.

Expecting the downtrend to continue, which has been triggered by today's london open.

Good luck everyone today.

My view: GBPJYP is in a triangle and going no where until non-farm payrolls, and I think then will be a big move (the apex of this triangle is when news on non-farm payroll comes out). My question now to ask: which direction; up or down? I think "up" because of good USA data.

above 142.350 long
below 142.160 short

To a get higher view I look at the 4 hourly chart. The chart indicates an "up" overall (general) trend. With a 61.80% fib expansion the target could be 144.34.

This is high level view and could be lots of oscillations along the general trend. I most probably am wrong so you trade at your own risk.

I like your approach, but this band may be a bit narrow. i.e. false trades may be triggered.

I think a support is forming at 142.100 so long above and short below. But watch out for fake trades when the "stops" are hunted.

I start long now good luck.
@ that spike 1.3 pips more drop will hit my stop loss , luck me.

Have to wait some more ... though if this month is going to be like the previous two ... .

Hi Folks,

My two bobs worth see's a possible high around the 143.750 area then a pullback to the 140.000 139.000 area,

But as always trade wisely.

For August: 2 trades, over 700 dragon pips. Trades were posted on this thread.

The more pips you make the more the noobs will hate you.

Long @ 142.300, SL 30 pips.

We will see.

:::

Good sell setup spoted . Stalking to short if sellers become aggresives pushing the price down

In my experience, markets tend to move back up to fill the gap on days where US banks are closed, I would even say that GBPJPY looks ready for a big move up to 143-144 after fridays market reaction on the news.

Maybe, but some perceived "gaps" in the past were closed after a lot longer. I recall one closing after more than 10 years. GJ Gaps and holes formed during the great fall in 1992 were closed more than 6 yrs later

Just my view, I think we have a falling wedge. I would guess that its target may be 141.42. Not too confident about target (using fib expansion)

Just my 2 cents on the market:


@ LetsTrade Indeed a bearish sentiment today, however with the opening of NY tommorow i expect the uptrend to continu, that said...IF the support at 141.500 (double confluence with the 50% level, unofficial Fibonacci level) holds up!
If not market could see a full reversal to bearish with a possible long term goal of 138.xxx


But with the relative positive news around the Brexit last weeks and the threat of a war in North Korea (scary shit...!!) I expect the GBP to hit some highs.. I have my SL at 141.400 to allow for some breathing room around the support area. Went long at 142.025 and 141.913. Let's see if we can get back up towards the resistance of 142.9xxx.

Price been moving in a tight zone today..

Remember, just a n00b's opinion and market outlook Happy to be criticized any time!

Safe trading all!!