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Dragon Riders GBP/JPY

  • #28,501
  • May 3, 2018 4:46am May 3, 2018 4:46am
Quoting Agt1200
{quote} Today..I think price will down to 148.68 hopefully....then next target will be 145.50....
Finally....TP 148.70...now need to wait for price retrace before it can continue down to 145.50....149.00 is the best place to re-entry the Sell position..
Always Follow Your Hearth
  • #28,502
  • May 3, 2018 5:35am May 3, 2018 5:35am
Quoting RBlackburn
{quote} 154.45 Good luck
That long was premature, unfortunately, the pair is still moving south.
  • #28,503
  • May 3, 2018 6:52am May 3, 2018 6:52am
Quoting dianajs
{quote} That long was premature, unfortunately, the pair is still moving south.
The long wasn't premature. It was a setup and I took it. If it doesn't work it's ok. I'm trying to catch a bull day, I'll just re-enter. Cheers.
  • #28,504
  • May 3, 2018 7:28am May 3, 2018 7:28am
I'd just like to point out the 5d avg is like 130p
We're only sitting -60 today, not much for this pair.
Could fullfill the ADR either side I guess but personally, my money is still on a bull close.

This looks like a run through stops below 149 (which I bought) and now a bear trap for profit taking on shorts.
This could pop real quick on any convincing close back above WS2 (148.61)-DS1 @ (148.68)

The coil built through Asia was tight as fuck.
If this was sustained selling, idky i watched gj trade within an 18 pip range all morning. I'd expect it to open and trade lower. I understand we were waiting for UK PMI @6:30pm(AEST) so participation may have been low but when data came through, it was slightly worse than expected, but still better than previous reading.

Stops moved now @ 148.0
T1 _150.92
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  • #28,505
  • May 3, 2018 8:01am May 3, 2018 8:01am
I buy GJ my tp 149.3. Last time, it was a good level. Maybe I'll get a second chance to buy more at a better price 148.
Attached Image (click to enlarge)
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  • #28,506
  • May 3, 2018 9:57am May 3, 2018 9:57am
Quoting RBlackburn
{quote} The long wasn't premature. It was a setup and I took it. If it doesn't work it's ok. I'm trying to catch a bull day, I'll just re-enter. Cheers.
Way off the mark. Still heading down.
  • #28,507
  • May 3, 2018 5:05pm May 3, 2018 5:05pm
Quoting LetsTrade
{quote} Way off the mark. Still heading down.
True. Oh well, i tried.
I'll just post hindsight next time
  • #28,508
  • May 4, 2018 3:45am May 4, 2018 3:45am
147.9. Confused? Don't be. Don't get sucked in at 147 unless it absolutely confirms. It's target is 146.3/4. If I'm wrong I'll give you my address and come around and tar and feather me. Just watch the daily and weekly candled. Ignore all lower timeframes.
  • #28,509
  • May 4, 2018 5:01am May 4, 2018 5:01am
Quoting RBlackburn
{quote} The long wasn't premature. It was a setup and I took it. If it doesn't work it's ok. I'm trying to catch a bull day, I'll just re-enter. Cheers.
I was referring to my long position, I wasn't passing any kind of judgement on yours.
  • #28,510
  • May 7, 2018 4:37am May 7, 2018 4:37am
It finally rebounded from 147.00. We may see some correction.
  • #28,511
  • May 7, 2018 4:44am May 7, 2018 4:44am
Sentiment still above 50 http://www.marketsentiment.eu/Data/GBPJPY, so JPY should continue appreciating
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  • #28,512
  • May 7, 2018 11:20pm May 7, 2018 11:20pm
Suspect 147.8 is the key, as per 151.8 earlier. Still allows a triangle type structure with maybe final top circa 148.4/5. Then bottoming temporarily 143.5/144 before more downside.
  • #28,513
  • May 8, 2018 4:56am May 8, 2018 4:56am
The correction lasted to 148.25, now it's back at the local low at 147.05 and I think it will keep depreciating.
  • #28,514
  • May 8, 2018 6:43am May 8, 2018 6:43am
Getting the impression its going to hit 142.4 over the next few weeks and will recover after that. The daily chart looks like the pair could undo all its price action from September 2017
  • #28,515
  • May 8, 2018 8:55am May 8, 2018 8:55am
Quoting AyeAye
Getting the impression its going to hit 142.4 over the next few weeks and will recover after that. The daily chart looks like the pair could undo all its price action from September 2017
Mmmm... Oil is heading $. 76 per barrell. Usually a good news for oil producers. Brits are big oil producers, so maybe good news for them and GBY going north...?... Careful.
  • #28,516
  • May 8, 2018 12:57pm May 8, 2018 12:57pm
Any takers for longs?
  • #28,517
  • May 8, 2018 1:00pm May 8, 2018 1:00pm
Quoting Yvonnely
Any takers for longs?
Me but I'm becoming more and more hesitant
  • #28,518
  • May 8, 2018 8:15pm May 8, 2018 8:15pm
Heading to 149?
  • #28,519
  • May 8, 2018 8:28pm May 8, 2018 8:28pm
JPY weaker everywhere

149 would be a good target
Don't Worry Be Happy
  • #28,520
  • May 8, 2018 9:50pm May 8, 2018 9:50pm
Quoting Mpt
Suspect 147.8 is the key, as per 151.8 earlier. Still allows a triangle type structure with maybe final top circa 148.4/5. Then bottoming temporarily 143.5/144 before more downside.
Confirmed as a triangle structure after 147.8 failed to hold, with break out thereafter. First suggested target met. Now it's a waiting game
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