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Dragon Riders GBP/JPY

  • #29,401
  • Oct 18, 2018 3:55pm Oct 18, 2018 3:55pm
I can see wolfe wave and it should bounce from this area + I see equal legs in red colors which also support bouncing
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  • #29,402
  • Oct 19, 2018 2:47am Oct 19, 2018 2:47am
GJ decide...144 confirmed
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MY OPINION NOT FINANCIAL ADVISE
  • #29,403
  • Oct 19, 2018 4:34am Oct 19, 2018 4:34am
Quoting donfriday
GJ decide...144 confirmed {image}
I currently have a Sell open with 145.70 TP.

There will be bounces, but overall, the short term trend is down till at least 145. The final bottom could be as low as 143 in the next 2 months.
Observation is the path to discovery.
  • #29,404
  • Oct 19, 2018 8:33am Oct 19, 2018 8:33am
I am still bullish as long we didn't break the 145.66 and even if we break it I still se GJ going to 147 to 147.50 before falling again
  • #29,405
  • Oct 19, 2018 8:35am Oct 19, 2018 8:35am
watch AUDJPY if it break up the 80.46 it will fly 100pips more. so GJ should keep flying with them

GBPUSD is now near the resistance line lets see if it will break the downtrend . I think we have a speech after 3 hours about GBP
  • #29,406
  • Oct 19, 2018 8:57am Oct 19, 2018 8:57am
wow such a bullish candle . if GJ manage to close 4h candle above 147.50 on the circle I draw on my chart I can officially say goodbye Bears and the bottom is done
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  • #29,407
  • Oct 19, 2018 9:05am Oct 19, 2018 9:05am
daily candle doesn't look good for bears honestly

it barely have a bottom tail ! and its removing all the bearish move we have done yesterday

see the previews daily candles
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  • #29,408
  • Oct 19, 2018 9:08am Oct 19, 2018 9:08am
Quoting msniper
daily candle doesn't look good for bears honestly it barely have a bottom tail ! and its removing all the bearish move we have done yesterday see the previews daily candles {image}
Agreed. I'm also watching the 147.52 level to reverse until 146.19 or 145.90 then up.
Always keep an eye on the daily charts since it's very easy to get lost on the lower time frames.
Lost....
  • #29,409
  • Oct 19, 2018 9:10am Oct 19, 2018 9:10am
Quoting gespiri
{quote} Agreed. I'm also watching the 147.52 level to reverse until 146.19 or 145.90 then up. Always keep an eye on the daily charts since it's very easy to get lost on the lower time frames.
Hopefully, we should reach the 147.5x level before BoE starts opening its yap and messes things around.....
Lost....
  • #29,410
  • Oct 19, 2018 9:19am Oct 19, 2018 9:19am
I personally believe that the drop happened yesterday is just a fake out drop. and they will burn many people who shorted because the trend is broken

147.5x area is not only the key for the upside its also the retest area for the broken trend which will encourage new sellers to step in. so we should break it strongly not in shy way hehe
  • #29,411
  • Oct 19, 2018 9:44am Oct 19, 2018 9:44am
Quoting msniper
I personally believe that the drop happened yesterday is just a fake out drop. and they will burn many people who shorted because the trend is broken 147.5x area is not only the key for the upside its also the retest area for the broken trend which will encourage new sellers to step in. so we should break it strongly not in shy way hehe
This level actually represents a weak support line in the past (more like 147.68) so I don't think it'll have a hard time breaking through this resistance.
The question is when and how. If I look in the daily charts, this pair always tend to reverse with irregular patterns, always retesting close to its low then shooting up.
In any case, I'm opening shorts at 147.5 w/o closing my original longs and a TP at 146.2 - 146.5 for Monday.
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Lost....
  • #29,412
  • Oct 19, 2018 10:14am Oct 19, 2018 10:14am
that's my new Elliott waves counting and I am still bullish until 145.66 is taken out then I will say I might be wrong

I still wait for 150 and above and I short from there
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  • #29,413
  • Oct 19, 2018 10:25am Oct 19, 2018 10:25am
Quoting msniper
that's my new Elliott waves counting and I am still bullish until 145.66 is taken out then I will say I might be wrong I still wait for 150 and above and I short from there {image}

Cross fingers that 145.7 doesn't get taken out....good luck to both of us.
Lost....
  • #29,414
  • Oct 19, 2018 10:30am Oct 19, 2018 10:30am
Quoting gespiri
{quote} This level actually represents a weak support line in the past (more like 147.68) so I don't think it'll have a hard time breaking through this resistance. The question is when and how. If I look in the daily charts, this pair always tend to reverse with irregular patterns, always retesting close to its low then shooting up. In any case, I'm opening shorts at 147.5 w/o closing my original longs and a TP at 146.2 - 146.5 for Monday. {image}
GJ tested the 200 SMA in H4 (Blue line) after breaking it yesterday. Now it is time to test the low at 145.70.

The trend change higher cannot occur until the yellow down trendline is broken in the RSI. There is still a lot of bottoming work ahead.
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Observation is the path to discovery.
  • #29,415
  • Oct 19, 2018 10:32am Oct 19, 2018 10:32am
Quoting gespiri
{quote} Cross fingers that 145.7 doesn't get taken out....good luck to both of us.
some Elliott waves analyst says even if it break 145.66 still it can go up like quick spike down then up. so not sure which will happen hehe

we are 100pips away from my number and 100pips away from bullish confirmation. we holding the stick from the middle lol
  • #29,416
  • Oct 19, 2018 10:44am Oct 19, 2018 10:44am
Quoting Alorente
{quote} GJ tested the 200 SMA in H4 (Blue line) after breaking it yesterday. Now it is time to test the low at 145.70. The trend change higher cannot occur until the yellow down trendline is broken in the RSI. There is still a lot of bottoming work ahead. {image}
that's nice easy job only 100pips up and your RSI will be above the yellow line hehe. someone click the buy button plz
  • #29,417
  • Oct 19, 2018 10:45am Oct 19, 2018 10:45am
Quoting Alorente
{quote} GJ tested the 200 SMA in H4 (Blue line) after breaking it yesterday. Now it is time to test the low at 145.70. The trend change higher cannot occur until the yellow down trendline is broken in the RSI. There is still a lot of bottoming work ahead. {image}
We're looking at it from an EW point of view so it could go down to your level right now/next week or not.
I think the wave 5 finish will be at 150.78 - 151.56 before it goes down to the 143.xx level. This will be answered in the next 3 hours. Let's wait and see....
Lost....
  • #29,418
  • Oct 19, 2018 10:49am Oct 19, 2018 10:49am
Quoting gespiri
{quote} We're looking at it from an EW point of view so it could go down to your level right now/next week or not. I think the wave 5 finish will be at 150.78 - 151.56 before it goes down to the 143.xx level. This will be answered in the next 3 hours. Let's wait and see....
exactly

my plan is to close half of my position at 150.20 and other half at 151.50 and then find spot to short and hold the short for at least 2 months
  • #29,419
  • Oct 19, 2018 10:56am Oct 19, 2018 10:56am
I think Alorente is following the yellow pattern which is also possible but will go all the way to 136.xx if valid (unless the big trend changes at 143.75)
The pink pattern is what we're looking at......15min before the BoE bullshitting begins to more this either way.
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Lost....
  • #29,420
  • Oct 19, 2018 11:01am Oct 19, 2018 11:01am
EURJPY is the first jpy pair to make the bullish breakout. we wait for GJ turn now
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