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The Cat & Dragon - GJ Free House

  • #121
  • Nov 30, 2017 6:59am Nov 30, 2017 6:59am
This is good stuff, Cat. Thanks very much.

I have been using 50SMA on both 1' and 5' charts.

5' chart with 50SMA is quite good to help me with the trend (ie short when below and long when above).

I notice that you use 3' chart with 100SMA. Is this not equivalent to 50SMA 5' chart.?
  • #122
  • Nov 30, 2017 7:54am Nov 30, 2017 7:54am
Quoting LetsTrade
This is good stuff, Cat. Thanks very much. I have been using 50SMA on both 1' and 5' charts. 5' chart with 50SMA is quite good to help me with the trend (ie short when below and long when above). I notice that you use 3' chart with 100SMA. Is this not equivalent to 50SMA 5' chart.?
Not sure LT, as I don't use the 50sma at all , just the 100, the 20, and a couple of others.

Dilly dallying now isn't it? Could go anywhere now I feel, but those resistance levels still hold for me until they are broken.
  • #123
  • Nov 30, 2017 12:41pm Nov 30, 2017 12:41pm
Reached daily R3 of 152.25

From what I see today, daily pivots seem to be significant in a strong trend: from R1 this morning, up to R2, down to R1 and then right through to R3.

Somebody said that weekly pivots are important because bankers trade them. Well, today weekly's were just a bit blurred around their pivot levels; whereas the dailys' levels seemed cleaner. That is my take, but why: I don't know.

Pivot levels don't seem to be significant in a ranging day. (ie. in not a strong trend)

Will be interesting to see if daily R3 proves to be the current resistance (for the next day or two) or will it keep flying up?
  • #124
  • Nov 30, 2017 12:46pm Nov 30, 2017 12:46pm
Oh, I forgot tomorrow is a new day with a new and different set of pivot levels. So a new ball game tomorrow.
  • #125
  • Dec 3, 2017 5:50am Dec 3, 2017 5:50am
Quoting LetsTrade
I think it will hold, but this is only my view and I could be totally wrong. We are in today's 2nd phase and normally we would achieve 3 phases in a run up. My definition of phases are: 1st phase: first slope is not so steep 2nd phase: is steeper slope 3rd phase: is steepest and last phase If I could get my screen shots working, I could illustrate Normally we have 3 phases (90% of the time) in equities; and I note that in forex that happens in about 50% of the time. (ie 3 phases) Big boys are presently taking out our stops. ha,ha

An illustration would be good.
What time frame do you trade of ?
  • #126
  • Dec 4, 2017 5:32am Dec 4, 2017 5:32am
I've got potential resistance around 285 if anyone is long dragon, so I'm watching carefully to see what it does if it gets there
  • #127
  • Dec 4, 2017 6:10am Dec 4, 2017 6:10am
Quoting cat
I've got potential resistance around 285 if anyone is long dragon, so I'm watching carefully to see what it does if it gets there
273...close enough. Could still push up, but that resistance level should be a strong one if it is challenged. Looking further out, scroll back up and have a look at my weekly forecast chart posted on the 29th and you'll see that the 200ema is now not far off and still could be a target if this H1 potential resistance level breaks today.
  • #128
  • Dec 5, 2017 3:38am Dec 5, 2017 3:38am
240 pips down from that resistance level I posted yesterday. It's now just above the H1 200ema, and when the price gets into this sort of position, with the 200ema/sma below and the 100sma coming round over the top, it very often pulls back towards the 100sma, which I have at 135 currently before turning south again. Whether it does so this time around remains to be seen, but I'm very glad that yesterday's resistance held as I was hoping it might, and for those trading the hourly time frame, as a couple of people have asked me about certain things to look out for on the hourly, then look at the strong sell indication candles before it dropped - a strong shooting star followed by two dojis. A sell off of any of those with the correct sized stop loss would have put you into the trade. There were strong signals on the smaller time frames as well, with the 10 minute tf putting in a very strong shooting star on the close at 15.00 London time which closed below the 20sma following a series of bearish candles...things to look out for when identifying an entry point.
  • #129
  • Dec 7, 2017 9:19am Dec 7, 2017 9:19am
Took the dragon for the beast that she is.

Attached Image (click to enlarge)
Click to Enlarge Name: gj.png Size: 81 KB
  • #130
  • Dec 15, 2017 8:09am Dec 15, 2017 8:09am
Quoting rvanscho
Watch this {image}

Forget everything you know about forex and learn wave analysis.

The market builds structures and patterns, they reoccur time and time again.

I've predicted GJ movements/possibilities from the start of this thread.


Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2017-12-15 at 10.05.17 pm.png Size: 77 KB
  • #131
  • Dec 15, 2017 8:12am Dec 15, 2017 8:12am
Quoting rvanscho
Watch this {image}
L1
Attached Image (click to enlarge)
Click to Enlarge Name: Corrective strcuture.jpg Size: 57 KB
  • #132
  • Dec 18, 2017 10:08am Dec 18, 2017 10:08am
Quoting rvanscho
Watch this {image}
Hey mate can you post that oscillator please?

Cheers.
  • #133
  • Jan 23, 2018 11:00am Jan 23, 2018 11:00am
Quoting rvanscho
{quote} Forget everything you know about forex and learn wave analysis. The market builds structures and patterns, they reoccur time and time again. I've predicted GJ movements/possibilities from the start of this thread. {image}
Good for you, though I've only seen three posts from you before this one, none of which seemed to offer anything other than a fairly obscure looking chart with a couple of lines on it. I don't use wave analysis, never have done, and certainly don't intend forgetting everything I know about trading to take up on your recommendation.

Each trader has his or her own system, and we all respect that, so please, if you don't mind, don't go claiming that you have found the Holy Grail, not on this thread anyway, because many others before you have claimed the same thing. You are right though, the market does indeed build structures and patterns which reoccur time and time again, if it didn't, it would be impossible to trade it. It is something every trader out there knows. The trick is identifying them and finding the optimum price to enter each trade, and there are many ways of doing this besides wave analysis, however useful it may be.

Having said that, If you would like to give a wave analysis tutorial here on this thread for the benefit of those who are interested, then please do.
  • #134
  • Jan 23, 2018 11:11am Jan 23, 2018 11:11am
I'll be doing my best to get back onto this thread as I have been trading Dax and GJ together of late and I've added a couple more monitors to my arsenal so that I can view each one properly with all the time frames I like to have open. There are other GJ threads I know, so I'll use this one as a place where one can post levels, ideas, TA, or anything that is relevant to trading this fantastic pair.
  • #135
  • Jan 24, 2018 1:44am Jan 24, 2018 1:44am
GJ difficult to call this morning as it's right in the middle of R which I have at 155.00 and S from around 153,830 and today's S1 pivot at 153,560 which is also today's H1 200ema. Most immediate S seems to be around 15,400 or just above.

Red flag data at 09.30.
  • #136
  • Jan 24, 2018 1:56am Jan 24, 2018 1:56am
Around today's CP @ 15,448 looks to be a potentially strong R level if it does pop up there.
  • #137
  • Jan 24, 2018 2:34am Jan 24, 2018 2:34am
Yes, I agree very difficult to call its direction.
Trying to figure out the trend:

  1. 15min chart over last 8 hours: down
  2. 15 min chart over last 3,5 hours: up
  3. 5 min chart over last 3 hours: up
  4. 1 min chart over last 2 hours: down

Yes, daily CT is a resistance: keeps on touching it.

Does that mean it is busy building up a lot of energy to crash through CP? It has been sitting in this tight range for the last 8 hours, which is normally a very long time for GBPJPY

  • #138
  • Jan 24, 2018 2:54am Jan 24, 2018 2:54am
Yes, it's a bit trapped with lots of R up there around the CP and just above, but S around today's low, and this is being borne out by the PA so far. Wish I could say which way the main move is going to be, but it's very difficult atm I'm afraid.
  • #139
  • Jan 24, 2018 3:00am Jan 24, 2018 3:00am
Stops knocked out above CP, then a quick retrace of about 20 pips for bulls in pile in?
  • #140
  • Jan 24, 2018 3:18am Jan 24, 2018 3:18am
Quoting LetsTrade
Stops knocked out above CP, then a quick retrace of about 20 pips for bulls in pile in?
Yes, back to the 1m 200ema, so often a key level for small pullbacks. I still have potential R around 458, but I'm not sure how strong it's likely to be. If it cracks, then I think the door is open for 500, perhaps higher, but that level seems like it has the potential to offer very strong R if it gets there, as it is a round number, it is the 76.4% fib retrace from yesterday's high, and I have a topping MA there as well.

We'l know soon enough!
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