Dragon Riders GBP/JPY

reached my target.ive long at 15m open candle at 180.7 for 181.7.Happy weekend.

Congrats bro.. enjoy your weekend.. bye till Monday

I have two experimental, aggressive longs. I don't recommend people follow me, but I'm looking for a bit higher.

FOMC lockhart may lead to a dampener in the USD/JPY, which is rather oversold right now. If that's the case, I'll have to close early.

Aaaand Triggered

Out of that with a few
Pending SHORT 181.790

Hey, it's been a while since I've seen you away from the eur/usd and back on the gbp/jpy. I'm guessing the euro market is a bit dull at the moment?

I am all over, But EU is Home

My short pending order after 15 min candle close below 181.56 was triggered.. I already got more than I planned for today so I am moving SL to +6 now and will leave it that way as far as it goes.. (SL at 181.50)

Hopefully, see you all on Monday..

Happy Weekend

So good to see you back, hope you are back in action next week. :-)

Good to have you back FX-Ray, looking forward to your post.

Yes, indeed!

I'm still in and staying long. Up 345 pips. Right now the 1hr. has reached the 800ma. Over my years of trading, I've learned that the 4hr. 1hr. & 5 min. 800ma are like a "home base" for the prices to hit. When a price reaches these ma's they tend to hang around that area and consolidate before moving substantially north or south again. Sometimes they stay here for days (hrly and 4hr). It's also at the 38.2 fib (my ma's that I use are fib projections so I'm pretty confident where something is headed, or during a pullback or rally). I expect it to hang around this area for a few. If it takes another run up sooner, better for me! I'm looking at the weekly chart so I'm staying long.

I held my trade and slept during NFP. I can't stand to babysit a trade! I like longer term trades. I don't "try to guess" where it's going, I don't spend hours scouring news events and politics, I just watch how the price is reacting, and I don't want to kick myself with I should have stayed in! I'm pretty good at getting some long term runs. I move my stop up after every big move, but enough to give it space, and I expect movement in the market! When it starts to give me major signs that there are no more buyers or sellers, I close the trade. To me a real trade is a planned out movement, a great entry and a great profit! Anyway, just sharing!

I expect corrections in the USD and GBP this week, with a rally for JPY. USD is bullish, but my my current sentiment is to wait for a better opportunity to load longs.

If 180 fails to hold, we'll probably move down. We've tried testing it before during the weekend, and the price danced around 180 until the last hour before the market opened. GBP will be a bit touchy prior to Thursday, what with the BOE announcement expected to be a bit dovish.

Meh. Let's see how it plays out.

I don't "try to guess" where it's going, I don't spend hours scouring news events and politics, I just watch how the price is reacting, and I don't want to kick myself with I should have stayed in! I'm pretty good at getting some long term runs. I move my stop up after every big move, but enough to give it space, and I expect movement in the market! When it starts to give me major signs that there are no more buyers or sellers, I close the trade. To me a real trade is a planned out movement, a great entry and a great profit! Anyway, just sharing! {image} {image}[/quote]

Couldn't be said in a better way!!

It's very early in the trading weekand I but i'm busy tomorow so thought I would my analysis tonight.

Overall the weekly chart shows an uptrend with bullish candles on the way out of a pullback.
Last months high ~18700
Last week's high ~18175

As Krazydiamond says the 4hr chart has a nice uptrend with the price retreating in a pull back towards the 18100 level. I would be cautious of entering the trade at the moment; we have 2 bullish candles and the distance between price and the Kijun line suggests more pullback is needed. The future Kumo cloud is also bearish so I've set an alert at 18100.


In terms of intraday trades the 1hr Ichimoku has a nice bullish TK crossover. The future Kumo is also bullish.


The 10min chart puts some meat on the bones. Again we have a Bullish TK crossover however price is in the cloud and chickou is in the price span so not a valid signal. Furthermore the future cloud is starting to turn bearish. My Stoch and momentum indicators also suggest the bulls are running out of steam.


Fundamentals
Tonight and tomorrow we have a couple of JPY events with positive forecasts and some low impact USD events are also programmed towards the end of the day. According to the calendar there are some G20 finance meetings which will undoubtably result in lots of hot air but not much action. Mix that in with the Russia/Ukraine crisis meetings there's some potential for silliness in the news. Later in the week Japan has a bank holiday on Wednesday and some major USD announcements are programmed some with slightly positive forecasts. The BOE will also make an announcment on inflation on Thursday which will invariably be below target. Lets not forget last week's NFP jump will need 'balancing' as well.

Summary
An uptrend is in progress however more pull back is likely. I've set alerts at 18100 and 18200 to cover both options but would anticipate some ranging between the levels early tomorrow. I'll re-assess tomorrow at the NYSE open or if one of my alerts is triggered but I'm looking for the 10min Ichimoku to come in and 18100 to hold before entering a long trade.

Decision points short-term/intermediate-term calendar week 07 GBP/JPY:

184.10/83.90
182.40/20
181.70/50
179.90/70
179.00/78.80
178.10/78.90
177.00/76.80
176.40/20
175.80/60

Decision points long-term calendar week 07 GBP/JPY:

190.80/60
189.40/20
188.80/60
187.40/20
186.60/40
186.00/85.80
183.60/40
182.40/20
181.20/00
180.00/79.80
179.60/40
178.40/20
175.80/60
174.60/40
173.40/20
172.60/40
170.40/20
169.80/60
168.20/00

trade short DP 181.70/50

Wish everyone a successful week. Laters

Welcome back.

Pending SHORT GJ 181.880