Dragon Riders GBP/JPY

E/U have settled down, it depends on 25 for 75

it should be taken out now, if not I take profit, its friday anyway.

maybe next month..i want to hold it

I think the most important level E/U is 1.1180/65 atm, also for next week. We could either see a squeeze back to the highs or a continuation, whatever its gonna be, probably gonna happen there.

got filled too

I'm preparing to add however my first postion is negative and I've always been told never add to a losing trade so my finger is locked, cocked and ready to rock.

got 1 . another limit /60

I think I might close the EU postion now as well.

Added to position.

Im done for day, close to 6pm here, wish everyone a nice weekend

got in 184.95 gonna ride this one south to 182.587 to complete the cypher. then its sky high imo

didnt break the previous high and the low got lower...

Same to you mate.

laters

Closed @90

Month closed within 2% of monthly highs (in comparison to the total monthly range)

Wow.

A candle that closes on highs has a higher probability of having a lower wick FIRST on the next candle.

so I agree with your view. We drop 200+ pip in early March then probably will shoot for a double top or even 192.50

very confident Decembers high will hold. 192.50 is a stretch (for now)

I found one candle from the past that is close in behaviour to this month's close..

Differences:
1) The Chikou at Point-A is already outside the cloud, but at this month's close at Point-B the Chikou is hesitant. If gets out of the cloud: bullish, if stays: bearish.
2) The cloud below the candle at Point-C was bullish but this month, the cloud below the candle at Point-D is still bearish and also to mention is that a deep valley upfront is threatening the bulls which wasn't the case in the past.

Similarities:
1) Both candles who come before the past candle-C and this month's candle-D started high but closed in their lowest section and formed a bearish candle.
2) Both candles C and D have closed just above the yellow "Tenkan" line and above the blue "Kijun" line.
3) Both future clouds are bullish signaling that in long-term the uptrend will continue.
4) At both points C and D, stochastics are above 50 (although this month's stochastics shows already 85 price can still go up)

Candle E:
I put this candle just to include another similar pair which has same structure but it showed itself on a downtrend and I didn't want to include it. But if we would take a look at it we could see that even on a downtrend the candle that follows candle E also has moved down first but then reached a higher high and maybe closed above candle E but the next candle again sharply dropped, so this pattern might repeat itself again.

The Daily Candles Right at the Close of January 2006:
1) Right after the first day of February 2006 first a drawdown of -40 pips occurred and after that price went up to daily opening first and then rallied 260 pips to the North.
2) After the highest high was reached in 2 days, on the 3rd day price dropped drastically and retested tenkan (yellow line) (A retest of March 2015 could be around 178.70)

Conclusion:
Just by comparing the 2 points in time is of course never enough to tell exactly what will happen in March 2015. But we can assume after markets open on Monday, that we might have a minor drop first and then price would go higher again for at least 150 to 200 pips. Could we have a similar sharp drop after the climb??? Well we will figure that out on Monday and following days. But the bigger picture is already telling us that GJ has not the intention to step away from it's course to North. Although we may have some bearish monthly candles inside March, April or June, the megatrend, so to speak, is definitely bullish.

Happy Trades

Guys indicator to facilitate the daily ranges. It works for all currencies.

Ray, great job. You csv files have its charm, right? Sometimes I use them, but I used to Join indicator.

yes, that would fit into one week of market surprise type deally....you know....down for three days then.....

Hi igik,

you got me curious here, what do you mean by 'sometimes I use them', what exactly do you use 'sometimes'?
The indicator looks interesting but there are only 2 levels a day and what about the big picture, above and below, sentiment etc?
Whats the methodology behind?

Hi Ray,

​I'm not curious, I know what the data are based. Sometimes, I think in the past (about 3 years out). Then I met on this "strategy" and quite a long time I have it and use it. Now I'm using said indicators and Fibonacci levels.
Recognizes that the level resulting from historical data, are important and clearly when their people pose pretty graphic. Fibonacci Levels are exactly the same, but are not used by everyone.
Shows that a good trader and I believe that many people like you helped its methodology and especially concrete example.
Good luck in further transactions.