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GBP/JPY

  • #1,421
  • Sep 11, 2014 4:01pm Sep 11, 2014 4:01pm
Oooh americans making a new highs in the last 10mins.. exciting
Probably the worlds best currency trader.
  • #1,422
  • Sep 12, 2014 4:19am Sep 12, 2014 4:19am
Could it be time to short? Any ideas?

Happy Trades
Focus only on what truly matters!
  • #1,423
  • Sep 12, 2014 4:30am Sep 12, 2014 4:30am
Quoting Ata-Turkoglu
Could it be time to short? Any ideas? Happy Trades
sure why not..its hard to make 100% perfect trade..start building shorts with small risk..
Probably the worlds best currency trader.
  • #1,424
  • Sep 12, 2014 4:38am Sep 12, 2014 4:38am
Quoting Wheathermakr
{quote} sure why not..its hard to make 100% perfect trade..start building shorts with small risk..
I noticed 4 bearish candlestick patterns and only 1 bullish pattern on 1H charts.. so my tendency is towards south and ok good idea to spread some shorts in here and there.. thanks

Happy Trades
Focus only on what truly matters!
  • #1,425
  • Sep 12, 2014 4:47am Sep 12, 2014 4:47am
Quoting Ata-Turkoglu
{quote} I noticed 4 bearish candlestick patterns and only 1 bullish pattern on 1H charts.. so my tendency is towards south and ok good idea to spread some shorts in here and there.. thanks Happy Trades
good luck!
Probably the worlds best currency trader.
  • #1,426
  • Sep 12, 2014 4:56am Sep 12, 2014 4:56am
Quoting Wheathermakr
{quote} good luck!
Thanks.. still waiting for a good price for shorting.. right now my indis show me that uptrend has still some little strength.. but waiting hawkish

Happy Trades
Focus only on what truly matters!
  • #1,427
  • Sep 12, 2014 7:00am Sep 12, 2014 7:00am
Could be a hanging man?
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There's always money in the banana stand.
  • #1,428
  • Sep 12, 2014 7:04am Sep 12, 2014 7:04am
Quoting LizardGizzard
Could be a hanging man? {image}
IMHO, patterns don't work well on sideways moves.. if that hanging man would be on the very top then we could take it serious.. we could see some downwards move but I didn't see a strong reversal sign of that bigger trend yet.

Happy Trades
Focus only on what truly matters!
  • #1,429
  • Sep 12, 2014 7:11am Sep 12, 2014 7:11am
For the moment we stay in the uptrend.

The question is : is that range an accumulation or a distribution ?

I see an important buying pressure : we try to break the trend line but we came back in it quickly. IMO it was a retracement, and we will go higher...

The key level is 174.270. I f you break it, we can expect going up to 175.360
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  • #1,430
  • Sep 13, 2014 3:41pm Sep 13, 2014 3:41pm
175.500
Probably the worlds best currency trader.
  • #1,431
  • Sep 13, 2014 3:47pm Sep 13, 2014 3:47pm
Quoting Wheathermakr
175.500
Yeah, coming weeks and months I guess it will go extremely higher than that.. but for this week I believe we will see some 130 pips retracement first..

Happy Weekends
Focus only on what truly matters!
  • #1,432
  • Sep 13, 2014 4:04pm Sep 13, 2014 4:04pm
My idea long expansion 1,618% + 1600 pips weekly
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  • #1,433
  • Sep 13, 2014 4:08pm Sep 13, 2014 4:08pm
Quoting Ata-Turkoglu
{quote} Yeah, coming weeks and months I guess it will go extremely higher than that.. but for this week I believe we will see some 130 pips retracement first.. Happy Weekends
Im not specialized in weekly/monthly progress, if i had 100mil+ trading account i would trade these conditions..

But just watching the chart.. its an accumulation..and being in the 170zone of happening.. which is not determined by any special support/resistance presence
Of previous years.. there could be a big spike.. of 5-6 conseq weeks.. gaining 1000+k pips..trying the 184-186 levels..

i dont know when or how.. but for me long term is long.

One must understand why its accumulating to make any kind of predicition.. why in the 170 zone? its so neutral.. because its the best place to do it..
because bulls dont have to fight the bears..in the 170 place..and it must build a big force to break 179-181 which has proven to be an a MAJOR
Support/resistance in the years 1996,1997,2001,2002,2003

as i said i would not know how to trade this, because i dont deal in long term trades.
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Probably the worlds best currency trader.
  • #1,434
  • Edited 6:22pm Sep 13, 2014 4:20pm | Edited 6:22pm
Quoting Wheathermakr
{quote} Im not specialized in weekly/monthly progress, if i had 100mil+ trading account i would trade these conditions.. But just watching the chart.. its an accumulation..and being in the 170zone of happening.. which is not determined by any special support/resistance presence Of previous years.. there could be a big spike.. of 5-6 conseq weeks.. gaining 1000+k pips..trying the 184-186 levels.. i dont know when or how.. but for me long term is long. One must understand why its accumulating to make any kind of predicition.. why in the 170 zone?...
I don't know either.. till Thursday it could go as high as you mentioned, but which direction it will go in future is in the hands of Scotland for now.. so let's wait and see how it will end up on Thursday..

Happy Weekends
Focus only on what truly matters!
  • #1,435
  • Sep 13, 2014 6:21pm Sep 13, 2014 6:21pm
Quoting Ata-Turkoglu
{quote} I don't know either.. till Thursday it could go as high as you mentioned, but which direction it will go in future is in the hands of Scottland for now.. so let's wait and see how it will end up on Thursday.. Happy Weekends
I agree with Ata-Turkoglu. There is far to much risk and unknown in this market to make a wise decision without gambling. In my eyes we had a harmonic deep crab pattern before that had high probability with resistance but now the resistance is broken and there is no patterns so in my view I would say the same as Ata-Turkoglu that it's far to risking with the Sept 18th vote.

Sometimes the best position is a cash position IMO.

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Summary:
- No pattern short long term
- No resistance anymore (broken)
- High volatility due to vote

= Scary situation.
  • #1,436
  • Sep 13, 2014 9:51pm Sep 13, 2014 9:51pm
Sharing my view...

Happy Pipping Traders!
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"Think Different From The Masses"
  • #1,437
  • Sep 14, 2014 10:08am Sep 14, 2014 10:08am
Quoting Riley
Sharing my view... Happy Pipping Traders! {image}
Nice chart with Indi's. Agree with your take as well.

Looking like the top is just about in here. Lots of volatility coming in this week. Cash may be king until the vote comes in. We will see how the market moves today.
"It is not enough to have a good mind; the main thing is to use it well"
  • #1,438
  • Sep 14, 2014 6:29pm Sep 14, 2014 6:29pm
Quoting QuikFlipp
{quote} Nice chart with Indi's. Agree with your take as well. Looking like the top is just about in here. Lots of volatility coming in this week. Cash may be king until the vote comes in. We will see how the market moves today.
We'll see how it plays out.

Good day!
"Think Different From The Masses"
  • #1,439
  • Edited 3:49am Sep 15, 2014 3:33am | Edited 3:49am
My trend line has been broken but volume continue to push prices up. I think we will go back in it.
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  • #1,440
  • Sep 15, 2014 3:35am Sep 15, 2014 3:35am
Quoting MaximeCau
My trend line has been broken but volume continue to push prices up. I think we will go back in it. {image}
I agree.. IMO:
If price above 174.52 ---> Long
If price below 174.32 ---> Short

Happy Trades
Focus only on what truly matters!
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