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Dragon Riders GBP/JPY

  • #3,181
  • Feb 4, 2015 6:50am Feb 4, 2015 6:50am
One divergence after the other and still rises.. we must be somewhere where price returns.. hawkish waiting now..

Happy Trades
Focus only on what truly matters!
  • #3,182
  • Feb 4, 2015 7:09am Feb 4, 2015 7:09am
We have some high impact data in N.Y. at 8:30 and a couple more points a little later. USD taking hits now. Long GBP/USD from 1.5095. Up 140 pips thus far. The pound bulls are safe until Friday's NFP. My thoughts are that not many jobs added after the Christmas season but I will close the trade on principle and not risk 4 days of upside.
Be humble or be humbled.
  • #3,183
  • Feb 4, 2015 7:17am Feb 4, 2015 7:17am
Quoting whatever007
{quote} Descending triangle maybe? {image}
Maybe not.
Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #3,184
  • Feb 4, 2015 7:39am Feb 4, 2015 7:39am
10 bullish candles in a row on 15 min. chart.. this is rare.. let's see how it will react at 179.30

If not at 179.30 then at 179.50/60 it must retrace.. otherwise I really don't know what this is..

Happy Trades
Focus only on what truly matters!
  • #3,185
  • Feb 4, 2015 7:48am Feb 4, 2015 7:48am
Quoting Ata-Turkoglu
10 bullish candles in a row on 15 min. chart.. this is rare.. let's see how it will react at 179.30 If not at 179.30 then at 179.50/60 it must retrace.. otherwise I really don't know what this is.. Happy Trades
Working on 5 straight 8 hour up candles, not since last year.
Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #3,186
  • Feb 4, 2015 7:52am Feb 4, 2015 7:52am
Quoting whatever007
{quote} Working on 5 straight 8 hour up candles, not since last year.
I don't have MT5..but I think we have 4 bullish 8h candles right now.. correct me if I am wrong..
Focus only on what truly matters!
  • #3,187
  • Feb 4, 2015 7:53am Feb 4, 2015 7:53am
Yes we do.
Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #3,188
  • Feb 4, 2015 8:19am Feb 4, 2015 8:19am
Quoting whatever007
Yes we do.
Maybe this is it then.. price already started to fall..
Focus only on what truly matters!
  • #3,189
  • Feb 4, 2015 8:31am Feb 4, 2015 8:31am
Quoting Ata-Turkoglu
{quote} Maybe this is it then.. price already started to fall..
30 minute chart is ready, need the hourly close still.
Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #3,190
  • Feb 4, 2015 8:32am Feb 4, 2015 8:32am
Quoting Vermillion
{quote} don't forget about the possibility of breaking out of that altogether. We may reach 179.30/00 and beyond depending on the NFP
hey there.....I owe ya!! I divorced my marriage to the descending triangle .....just in time.....4.4%
but now the spike from hail deally......NFP related I suspect, but it should happen before the announcement I think, i be watchin'...
  • #3,191
  • Feb 4, 2015 8:34am Feb 4, 2015 8:34am
Please tell me that spike is going to be down and not up over 180.
Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #3,192
  • Feb 4, 2015 8:38am Feb 4, 2015 8:38am
Quoting whatever007
Please tell me that spike is going to be down and not up over 180.
After a relaxation it will retest the highest high.. expecting double top at least before it would change direction but in our case on smaller timeframes than daily chart we are in a bullish retracement move.. the real deal is that trend just turned into bearish on daily when price dropped below ichimoku cloud..

Happy Trades
Focus only on what truly matters!
  • #3,193
  • Feb 4, 2015 8:42am Feb 4, 2015 8:42am
I wish it go down to 178.400 it is fibo at 23.6 but now still I'm not sure.
  • #3,194
  • Feb 4, 2015 8:44am Feb 4, 2015 8:44am
the line in the sand right now is 178.73.....the line between bull or bear.....we'll dance around that slowly migrating line for up to two days before going on a massive upswing. What....no view allowing for the resumption of up???....then it's the end of the world as we know it....but we feel fine!!

15M with a 333 sma.....same as 200 period and 50 period crossover when the PA crosses the price bars.....what do you have.....the TRUE TREND in short term form....the one you want!!

okay....okay....and I put a 34, 3, 3 slo sto on it and play the 80/20 lines waiting for two bumps or three pushes to take...
  • #3,195
  • Feb 4, 2015 8:50am Feb 4, 2015 8:50am
Will try to buy a scalper around 178.50.. that's exactly the fib 50% retracement on 15 min chart's last bullish move..

Happy Trades
Focus only on what truly matters!
  • #3,196
  • Feb 4, 2015 8:58am Feb 4, 2015 8:58am
May not retrace significantly until 180.20/00, but further downward movement right from 179.30/20 isn't out of the question either. Itll depend on how strong the bulls are right now. It they're strong enough, they'll ignore whatever negative USD news there are and just push up.

Just wait and see for now.

Update: ISM news for US turned out exactly as expected. We've a slightly higher chance for bulls, given that they have the slight edge in the market (bulls are on the offensive, bears on defense). We'll find a more clear direction in about half an hour or an hour later.
  • #3,197
  • Feb 4, 2015 9:03am Feb 4, 2015 9:03am
180.20 sounds nice but depends on bull power as you said.. I think not today.. look how hesitant the market is

Edit: Despite 15, 30 and 60minute charts have nice thick clouds the 4H chart future cloud is thin and signals boring and flat days are nearing..
Focus only on what truly matters!
  • #3,198
  • Feb 4, 2015 9:10am Feb 4, 2015 9:10am
Quoting Ata-Turkoglu
180.20 sounds nice but depends on bull power as you said.. I think not today.. look how hesitant the market is Edit: Despite 15, 30 and 60minute charts have nice thick clouds the 4H chart future cloud is thin and signals boring and flat days are nearing..
I don't know about future prices, but I can say this: the hours just before the NFP on Friday will probably be the calm before the storm.

I wonder if you can scalp those tight ranges though. Usually at least 20 pips big in profit, even when considering for high spreads. I've recently recouped my losses from the geppy (when it was acting choppy), and now I'm finally filling out my bi-weekly profit range. And me being a scalp addict, I find this to be very....very...tempting.
  • #3,199
  • Feb 4, 2015 9:14am Feb 4, 2015 9:14am
Quoting Vermillion
{quote} I don't know about future prices, but I can say this: the hours just before the NFP on Friday will probably be the calm before the storm. I wonder if you can scalp those tight ranges though. Usually at least 20 pips big in profit, even when considering for high spreads. I've recently recouped my losses from the geppy (when it was acting choppy), and now I'm finally filling out my bi-weekly profit range. And me being a scalp addict, I find this to be very....very...tempting.
The tighter the better since you can clearly see or guess the edges of ranging levels.. my problem is that whenever I put my limit orders I often miss triggering them by 10 or 15 pips and it drives me crazy to enter later manually.. must fix that.. anyway.. yes scalping is lots of fun on GJ and UJ..

Happy Trades
Focus only on what truly matters!
  • #3,200
  • Feb 4, 2015 9:25am Feb 4, 2015 9:25am
Quoting Vermillion
. Update: ISM news for US turned out exactly as expected. We've a slightly higher chance for bulls, given that they have the slight edge in the market (bulls are on the offensive, bears on defense). We'll find a more clear direction in about half an hour or an hour later.
Currently retesting 179.20 area. If it breaks above, i'm longing for next resistance. If not, I expect a choppy market, since intraday trend will be filled with stiff competition with bulls and bears fighting.

Probably going to short if we go back into the triangle.
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