Pure Price manipulation by the broker. I am working with two other brokers .. not even a single wick like this happened this morning on my platforms....
On the Daily chart, I see the Trade Triangle tightening. Price has been bouncing off the 144.00 area 6 times since January of this year. This is a powerful area it seems. Why? Why will Bears not give up this area? Going back to May 2018 this area has been contested 10 times!
Pressure is building to the down side. You can see my Trade Triangle is seated at 144.00 area but Bear pressure is pushing price down. Now price has not been above 149.00 since April 2018. However, despite the 144.00 Area being contested it has been broken twice in the same time frame with one being a glorious drop of 1200 pips during the whole month of December 2018.
I am grabbing a bit here and there within this 500 pip range as of late but that is not what I am waiting for. IMHO, think price is more likely to head down past 144.00 than push up through 149.00. Until then keep swinging.
Hey All, On the Daily chart, I see the Trade Triangle tightening. Price has been bouncing off the 144.00 area 6 times since January of this year. This is a powerful area it seems. Why? Why will Bears not give up this area? Going back to May 2018 this area has been contested 10 times! Pressure is building to the down side. You can see my Trade Triangle is seated at 144.00 area but Bear pressure is pushing price down. Now price has not been above 149.00 since April 2018. However, despite the 144.00 Area being contested it has been broken twice in...
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Maybe a good sell at 145.40 and ride it down to 144......what do you think?
{quote} Maybe a good sell at 145.40 and ride it down to 144......what do you think?
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Hey pohchuan,
I don't see a reason why you could not scalp 40pips off the Dragon. I would be cautious with a trade inside 145.00 to 144.00. It is a tight squeeze inside my Trade Triangle. Price can break in either direction although I lean more towards a downside break.
Hey All, On the Daily chart, I see the Trade Triangle tightening. Price has been bouncing off the 144.00 area 6 times since January of this year. This is a powerful area it seems. Why? Why will Bears not give up this area? Going back to May 2018 this area has been contested 10 times! Pressure is building to the down side. You can see my Trade Triangle is seated at 144.00 area but Bear pressure is pushing price down. Now price has not been above 149.00 since April 2018. However, despite the 144.00 Area being contested it has been broken twice in...
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Hey All,
So GBP strengthened today, so much so it broke a rather firm downtrend line. Price spiked up 115 pips today. That also breaks my Trade Triangle and widens it by 100 pips. That lends to a theory that price may flatten for awhile on the Dragon. We shall see next week. Price did not pass 146.50. Next level to the up side is 147.00 then 149.00 after that. I still think down side is more likely but now I have to adjust my expectations and extend the time frame with which I think price will reach my goal of 141.00 Level.
{quote} Hey All, So GBP strengthened today, so much so it broke a rather firm downtrend line. Price spiked up 115 pips today. That also breaks my Trade Triangle and widens it by 100 pips. That lends to a theory that price may flatten for awhile on the Dragon. We shall see next week. Price did not pass 146.50. Next level to the up side is 147.00 then 149.00 after that. I still think down side is more likely but now I have to adjust my expectations and extend the time frame with which I think price will reach my goal of 141.00 Level. We shall see....
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Hey All,
4 days since my last post and once again The Dragon bounces off 144.00 for the 6th time in 2 and half months. Failed again. Still waiting for a Trend Line Break. Trade Triangle is tightening by another 50ish pips.
Dragon Riders GBP/JPY
