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Dragon Riders GBP/JPY

  • #28,441
  • Apr 19, 2018 10:51am Apr 19, 2018 10:51am
Quoting aeternum
{quote} That would mean big downside incoming. Let's observe. Interesting to know how others depict this too
Daily bearish for 2 days now and fighting for a 3rd which is bouncing at support level. Bears winning so far but I see more downwards momentum. We should be able to see around 151.75 if it continues going lower
A 1 pip gain is better than a 1 pip loss.
  • #28,442
  • Apr 19, 2018 10:56am Apr 19, 2018 10:56am
lol, go bears go!
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Don't Worry Be Happy
  • #28,443
  • Apr 19, 2018 11:46am Apr 19, 2018 11:46am
Quoting FastPipn
heading down to 152.00
This will be 3rd times price tried to break level 152.00 or more specific 152.17... Expecting before market close.. Bearish CS close below 151.96..Then my next target is 149.44
Always Follow Your Hearth
  • #28,444
  • Edited 7:41pm Apr 19, 2018 7:06pm | Edited 7:41pm
Quoting Agt1200
{quote} This will be 3rd times price tried to break level 152.00 or more specific 152.17... Expecting before market close.. Bearish CS close below 151.96..Then my next target is 149.44
At 151.3/150.9 convergence of support. Break under there for 150.2/5 central pivot area. Below 149.4 confirms down in reversal to 143.3. Bounce there might only retest 150.3 (by then descending tl 156.3/153.8. That would suggest a run back under 135 and back to at least my least favourite place of 131.5. The central pivot area must hold to maintain any chance of bullishness (if there's such a word), otherwise the whole 4th wave move ended at 156. Same goes for gbpusd, with a 38.5/50 move from 170x completing a corrective move. Interesting times.

Additionally, the 2013 consolidation (at the end, having been to 156.5, established a middle price of 151.3 and an average top of 153.8. Although we have no idea where we're at in that analogy. In the final stage, it dropped to 150.4 before recovery back to the mean.
  • #28,445
  • Apr 19, 2018 9:27pm Apr 19, 2018 9:27pm
Guaranteed to hit 150.500 area
Just 20 pips a day to riches
  • #28,446
  • Apr 20, 2018 7:23am Apr 20, 2018 7:23am
Quoting FastPipn
Guaranteed to hit 150.500 area
I did not think that it would break out below 152.00 but apparently that's not the case. You're probably right.
  • #28,447
  • Apr 20, 2018 12:17pm Apr 20, 2018 12:17pm
Quoting aeternum
{quote} Daily bearish for 2 days now and fighting for a 3rd which is bouncing at support level. Bears winning so far but I see more downwards momentum. We should be able to see around 151.75 if it continues going lower
As usual, GBPJPY has a higher volatility than most. Breaking way below 151.75

I see previous resistance turn support level around 150.4 to 150.7, curious to see what happens here, if we get a bounce on daily MA to retrace a bit or just push straight down
A 1 pip gain is better than a 1 pip loss.
  • #28,448
  • Apr 22, 2018 7:07pm Apr 22, 2018 7:07pm
i'm selling this pair, testing my might, mortal kombat with my trading account

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Don't Worry Be Happy
  • #28,449
  • Apr 23, 2018 2:35am Apr 23, 2018 2:35am
And today's magic numbers are brought to you by the numbers 1 5 1 and 2
  • #28,450
  • Apr 23, 2018 8:20am Apr 23, 2018 8:20am
It rebounded from 150.60 and I think it may rally to 151.55 soon.
  • #28,451
  • Apr 23, 2018 10:59am Apr 23, 2018 10:59am
Quoting aeternum
{quote} As usual, GBPJPY has a higher volatility than most. Breaking way below 151.75 I see previous resistance turn support level around 150.4 to 150.7, curious to see what happens here, if we get a bounce on daily MA to retrace a bit or just push straight down
We tapped 150.7 and got a slight bounce here

Daily PA bouncing off the MA, possible bullish move back up to around 152.1 or higher to 153.6
A 1 pip gain is better than a 1 pip loss.
  • #28,452
  • Edited Apr 24, 2018 4:36am Apr 23, 2018 8:25pm | Edited Apr 24, 2018 4:36am
151.5/6. Must clear 151.7 ~9 to continue bullish. Whole previous down move mid point is circa 152.2, above which suggests more up, although has to clear 153x. Failure around there might point to a longer term consolidation in this area such as a triangle or similar.

BTW, I really don't know whether this place is just a "hard to break area" or whether it's a 'No-go zone".
  • #28,453
  • Apr 24, 2018 2:19am Apr 24, 2018 2:19am
Another Good sell opportunity.
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i have tried to start trades with a trend, now i prefer to follow the trend
  • #28,454
  • Apr 24, 2018 5:55am Apr 24, 2018 5:55am
It pulled back from 151.90, I think it is depreciating to 151.35, I shorted.
  • #28,455
  • Apr 24, 2018 8:26am Apr 24, 2018 8:26am
EL OH EL this pair is full of lols
  • #28,456
  • Apr 24, 2018 9:34am Apr 24, 2018 9:34am
152.62 level is Fibo 38.2 (Daily). Price just retest this level and expecting CSP reversal..Next target 148.68 (fibo 161.8)
Always Follow Your Hearth
  • #28,457
  • Apr 24, 2018 11:58am Apr 24, 2018 11:58am
That is me short. Heading for 150.
  • #28,458
  • Apr 24, 2018 7:52pm Apr 24, 2018 7:52pm
Heads up to those folks who think its bearish....should not pass 152.4 or worst case 152.5 if that is to be the case.
  • #28,459
  • Edited 10:23pm Apr 24, 2018 9:43pm | Edited 10:23pm
And.. after a fallback, central pivot 152/152.1 appears to hold. Break 152.5 for 153.1/2. Offering the opposite argument, though, loss 152 and about 151.8 could bring a significant fall. Personally prefer upside.
  • #28,460
  • Apr 25, 2018 5:47am Apr 25, 2018 5:47am
I haven't closed my short yet, since it is forming multiple bars on the H4 indicating a depreciation.
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