The Cat & Dragon - GJ Free House

Blimey, just spotted another GJ thread on interactive! Getting a bit crowded around here! Never mind, we'll still offer some good, sound analysis on this one, or at least do our best to.

That was a bounce off of my H1 100sma @ 422. Still trapped, and I'm no clearer as to which way this is going to break, and any attempt to try will just be a guess, so I won't.

The 10m 200ema is cuttting right through the middle of the price range, but the 30m is down there as support, so , if the 'trade away from the 200ema' has any truth, then it should be safer to go north, but there is a lot of R just above, so I reckon the best bet is to buy the dips and move to BE as soon as it's safe. Don't quote me on it though!

Well, we have our answer. 500 was my tops, so we'll see if it respects that level or blows higher.

Could be double topping here, and good MACD diversion on 3m tf.

Careful though as this has the potential to break either way any second.

Massive Daily candle on GU today as it approaches its weekly 76.4% fib upward retrace. Big Daily candles like that often signal exhaustion of a trend.

GJ still has plenty of MA support on all time frames, which is causing this erratic " shall I go up, or shall I come down " pa we're currently seeing. Dangerous time to trade, especially at this time of the day. It's pushing up again now, but I'm out of the market now until tomorrow. I have 15,550 with some resistance, above which it is free to fly.

That rejection and sudden turnaround doesn't surprise me at all. I think we'll have some down time for the rest of this week, as this extreme bullishness we've seen on all GB pairs this week looks to have run its course, just for now at least.

Catch you tomorrow.

GJ flat topping on my 10mtf with some horrible looking candles with long stalks on both ends. A nice clean move to end the day last night, but too late for me. Really there's no point trying to predict which way this will go today, pa suggests down, at least initially, but the uptrend is still strong.

Anyone shorting, I think S1 at 15,448 is a realistic profit target from here intraday, which is also the H1 100sma.

Atm the price is sitting on my 3m 200ema, so it could easily pop up from here, and if it does, a lower high could offer a good short opportunity if you are thinking of shorting.

Good luck!


....forget 3m, it's gone. Perhaps the 5m.

Very nice rejection of the Daily 100sma which has been holding all the dips since Nov. How far this rallies back up remains to be seen, but I would say that for today, R1 which is on top of the 30m 200ema @ 15,438 might be a good target to head for if today turns out to be a healthy buying day across the board. It pulled back just before the London open to the 1m 20sma, so I would say anyone not long then best wait for another pullback as it's 50 pips back to the 1m 200sma from here, and the price could easily visit it again before it heads up again. I have a lower potential resistance level around today's CP @ 316, which is just below the 15m 100sma.