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Dragon Riders GBP/JPY

  • #3,161
  • Edited 7:23pm Feb 3, 2015 6:40pm | Edited 7:23pm
there's that "E" of the continuation pattern....there's a chance of the price bars heading south further out this week or this up-coming session...sold off that 178.71
  • #3,162
  • Feb 3, 2015 7:43pm Feb 3, 2015 7:43pm
I think we've got something. I'm entering market now.
  • #3,163
  • Feb 3, 2015 8:07pm Feb 3, 2015 8:07pm
Sold at 178.75. Too bad I closed my longs too early! Omg those PIPs are laughing at me. Well a win's still a win.
IMO we could easily hit 180 before the channel resistance comes into play, so I'm only selling in small amounts on higher highs and see where we go this london open.

I hope I don't need to carry my trades over to NY open as any positive USD news can validate a move higher up. USD is currently at what I would call a complete retracement, so if this retracement breaks either direction it's going to fly/dive.

Take care fellas, classic wed/thurs/fri volatility expected.
Luck shines on the positive.
  • #3,164
  • Feb 3, 2015 8:10pm Feb 3, 2015 8:10pm
Quoting YvetteTeo
Sold at 178.75. Too bad I closed my longs too early! Omg those PIPs are laughing at me. Well a win's still a win. IMO we could easily hit 180 before the channel resistance comes into play, so I'm only selling in small amounts on higher highs and see where we go this london open. I hope I don't need to carry my trades over to NY open as any positive USD news can validate a move higher up. USD is currently at what I would call a complete retracement, so if this retracement breaks either direction it's going to fly/dive. Take care fellas, classic wed/thurs/fri...
One word: NFP. That'll add to tomorrow's volatility.
  • #3,165
  • Feb 3, 2015 8:22pm Feb 3, 2015 8:22pm
Quoting Vermillion
{quote} One word: NFP. That'll add to tomorrow's volatility.
Agreed. I like to scalp NFP, but I don't like to hold swing trades into NFP. Scalping gives you flexibility to change direction depending on interpretation of the release.

Be careful though, volatility is slowly increasing for all USD releases as every bad news is validated by the next bad news.
Luck shines on the positive.
  • #3,166
  • Feb 3, 2015 10:06pm Feb 3, 2015 10:06pm
Quoting Gbp/jpy
there's that "E" of the continuation pattern....there's a chance of the price bars heading south further out this week or this up-coming session...sold off that 178.71
Descending triangle maybe?

Attached Image (click to enlarge)
Click to Enlarge Name: GJ.png Size: 54 KB
Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #3,167
  • Feb 3, 2015 10:36pm Feb 3, 2015 10:36pm
Quoting Vermillion
{quote} We're likely to push into the next fib/descending triangle resistance, which is around 178.40/30, with potential to scratch up to 178.80. But after reaching any of these areas, I expect a pullback in the dozens~ slightly 100+pips. On the flip side, I don't think the bulls are over yet. We're trading in between 177.70 and 178.40/30, so there's room to the upside. If you want to short, try shorting later, since we also have a good chance of touching 178.60 (which seems to be a tested and held resistance on several occasion). If there's one...
Thanks for posting that.....darn good information.....I'll act accordingly
  • #3,168
  • Feb 3, 2015 10:44pm Feb 3, 2015 10:44pm
Is anyone seeing this as well?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 213 KB
  • #3,169
  • Feb 3, 2015 11:11pm Feb 3, 2015 11:11pm
I gotta go look up cypher pattern, I'm curious
  • #3,170
  • Feb 3, 2015 11:33pm Feb 3, 2015 11:33pm
Quoting Konoko2004
Is anyone seeing this as well? {image}
Nice.. I hope it plays out well and we can have a nice fall..

Happy Trades
Focus only on what truly matters!
  • #3,171
  • Feb 3, 2015 11:51pm Feb 3, 2015 11:51pm
Quoting whatever007
{quote} Descending triangle maybe? {image}
ah, yes.....I see it better on that....
  • #3,172
  • Feb 4, 2015 2:49am Feb 4, 2015 2:49am
Hi again lucky number seven.. 177.777.. I love this one

Nice place to scalp long..

Edit: By the way, I was just having fun with that number.. my decision was based on the touch at 10 day EMA..

Happy Trades
Focus only on what truly matters!
  • #3,173
  • Feb 4, 2015 3:01am Feb 4, 2015 3:01am
Quoting Ata-Turkoglu
Hi again lucky number seven.. 177.777.. I love this one Nice place to scalp long.. Edit: By the way, I was just having fun with that number.. my decision was based on the touch at 10 day EMA.. Happy Trades
Closed at 178.000, quick + 22 pips..

Happy Trades
Focus only on what truly matters!
  • #3,174
  • Feb 4, 2015 3:44am Feb 4, 2015 3:44am
The GBP data is good but I think markets still playing out the technical flow and regarding to my charts it must finish some wave 5 first around 177.35

Happy Trades
Focus only on what truly matters!
  • #3,175
  • Feb 4, 2015 4:05am Feb 4, 2015 4:05am
Too much bullish drama at the moment.. so I go short.. new short order 178.15

Happy Trades
Focus only on what truly matters!
  • #3,176
  • Feb 4, 2015 4:49am Feb 4, 2015 4:49am
Currently staying flat.
  • #3,177
  • Feb 4, 2015 5:07am Feb 4, 2015 5:07am
Hanging on to that 4hr , 178.400 is the only tale to tell here , otherwise looking forward to the drop.

Edit:- got abit carried away and bit more than i could chew ......
  • #3,178
  • Feb 4, 2015 5:22am Feb 4, 2015 5:22am
How i see it.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ.png Size: 37 KB
  • #3,179
  • Feb 4, 2015 5:24am Feb 4, 2015 5:24am
Quoting Flybird
How i see it. {image}
Careful though, very little room for USD/JPY to fall further.
Luck shines on the positive.
  • #3,180
  • Feb 4, 2015 6:35am Feb 4, 2015 6:35am
Quoting Flybird
How i see it. {image}
don't forget about the possibility of breaking out of that altogether. We may reach 179.30/00 and beyond depending on the NFP
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