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GBP/JPY

GJ and GU currently trading at crucial support at 138 and GU around 1.30.

If these areas are taken out, expect the prices to push down towards 135.50 and 1.28 area.

Weekly and Daily candles looking very bearish.
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closed +150 pips
Quoting msniper
remember this chart karmo we hoped for blue but it didn't happen lol now lts on the my green arrow lets see {image}
I think I'm about to say goodbye to our friend 144

Didn't catch any of the bearish move, lost about 3% yesterday and today, but it's looking bad for GBP..........
Trade what you see, not what you think.
Quoting karmostaji
{quote} I think I'm about to say goodbye to our friend 144 Didn't catch any of the bearish move, lost about 3% yesterday and today, but it's looking bad for GBP..........
indeed the drop is bad and sharp

i am in big loss too

137.90 i might add long to fix my average
Quoting msniper
{quote} indeed the drop is bad and sharp i am in big loss too 137.90 i might add long to fix my average
GBP looks dead, I think it will drop to 137.50 area before any kind of bounce....
Trade what you see, not what you think.
Quoting auzzieal
{quote} Hay Oordjb... How do you find Oanda? I am looking at moving over to them here in Australia. They have a headQ in Melbourne and Sydney. Are they pretty good with their spreads? Some places are having a $3.50 charge now for the turn around trade.
Oanda has been very good. I've had no problems with them; withdrawals have been quick and easy, competitive spreads, and no screwing around like i had previously with a couple brokers who went under (not down under ). The only thing I don't like is that the spreads go way up there at the beginning of the day, as with all brokers, but they can stay up there sometimes for an hour or more on some pairs - like GBPJPY.

I can't seem to upload the spreads page for some reason, so I'll put it in manually - oanda.com/us-en/trading/spreads-margin/
Defeat is temporary, but giving up is permanent.
Auzziel - that spreads page is live so you can check back at any time of the day and see how they vary.
Defeat is temporary, but giving up is permanent.
Quoting karmostaji
{quote} GBP looks dead, I think it will drop to 137.50 area before any kind of bounce....
dont lose hope hehe

i still see it bullish on big frames

see the circles the bounce will be there and its a solid trend since march
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now or never ?
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If he passes this point, he will look for another lower level of fbn... Then he will look at 144 in a long time ...
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Quoting oordjb
Auzziel - that spreads page is live so you can check back at any time of the day and see how they vary.
Thanks. Appreciate it.

Also, I remember back when, in around 2003, when I traded along with Karmo, hearing to trade what you see on your charts. It took me a long time to trust what I saw, and still have to constantly change my paradigm, my view, to keep current. Just like that last move down. I have to verbally say to myself... what does it want to do, not what I think I would like it to do. And although my charts told me it was going down, last Thursday, I still took traded that were long. Go figure the psych of trading. That's what I like trading on with Karmo... he has been talking about those dam pills since Armageddon. hahaha.
So... My view. The monthly is almost touching the 5sma. Still can go down to Gann at 133.87, and from there the next support is 131ish. My weekly is showing signs of being more bearish, yet the daily is stronger, with below gann, and the QQE just passed through the 50, so just in that I am seeing more down in the long term.With the longer fib 61.8 and the last rise up fib at 161.8 is sight and the same area, that looks a really good area, around 135.50/80. Might get a bounce here first, but I am still on the short side. But.... my mind knows that I tend to look for rises more than bears, so I'll leave that one with you guys. Oh... and don't forget to take your pills.
Quoting msniper
now or never ? {image}
I keep saying to myself... eventually it has to break through that trend line channel support. Is this the time? (Just a thought...)
price now 137.32 i see bullish head and shoulders on 5mins frame

maybe GJ is ready now to go up to at least 138.20 to 139.30 then over there it will decide if it fall again or continue flying

the scenario fail if we break 137.17
Quoting msniper
price now 137.32 i see bullish head and shoulders on 5mins frame maybe GJ is ready now to go up to at least 138.20 to 139.30 then over there it will decide if it fall again or continue flying the scenario fail if we break 137.17
It looks to me a small retracement to 138 to 138.20 area and then more downside, the TL seems broken to me
Trade what you see, not what you think.
Quoting karmostaji
{quote} It looks to me a small retracement to 138 to 138.20 area and then more downside, the TL seems broken to me
check the 200 moving average on daily its around 136.90 so am sure price will respect and give at least 200pips bounce
Quoting msniper
{quote} check the 200 moving average on daily its around 136.90 so am sure price will respect and give at least 200pips bounce
She's pissed bro, not respecting anything atm
Trade what you see, not what you think.
Quoting karmostaji
{quote} She's pissed bro, not respecting anything atm
i know its crazy whats happening now

and what is coming next will be more crazy i am sure

its all about news now i guess
Quoting msniper
{quote} i know its crazy whats happening now and what is coming next will be more crazy i am sure its all about news now i guess
I've managed to get into a long at 136.82 with 10 pips SL, looking for 200 pips

Hope to make something since lost money n missed the whole move down.
Trade what you see, not what you think.
Quoting karmostaji
{quote} I've managed to get into a long at 136.82 with 10 pips SL, looking for 200 pips Hope to make something since lost money n missed the whole move down.
the 137.4x zone because strong resistance if we manage to break it we will fly pretty good

and honestly with such free fall that happened in 2 days i wouldn't be surprise if we see sharp rise after with good news about brexit perhaps
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