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Dragon Riders GBP/JPY

  • #7,661
  • Mar 16, 2015 7:17pm Mar 16, 2015 7:17pm
Quoting Forexcube
{quote} #7'517 ...volume oscillators: chaikin money flow, chaikin oscillator, ease of movement (EMV), elder force index (EFI), money flow index (Oscillator), twiggs money flow, volume oscillator, volume rate of change, transaction volume, up and down volume indicators, (modified) arms index, NPDD (ninety percents downside days), 10-to-1 up volume days and 9-to-1 down volume days, value of volume statistics, volume brakout filter, volume dips, volume oscillator, volume spikes, -climaxes, -explained, -on breakout, -shock spiral, volume dips, VPCI,...
Source: "Technical Analysis: The Complete Resource for Financial Market Technicians"
  • #7,662
  • Edited 7:38pm Mar 16, 2015 7:26pm | Edited 7:38pm
Anyway, back to trading.

If 1/2 180.00/79.90 support next probably DP 180.50/40;

There are 3 setup's Im paying attention atm:

(1) If price reached and breaks DP 180.50/40 and rejects 1/2 180.85/75 and breaks DP 180.50/40 from above, we could see a test of DP 179.50/40.
(2) Price reached DP 180.50/40 and its resistance, next is DP 179.50/40 then.
(3) Price breaks DP 180.50/40 and is support, next is DP 181.20/10 then.
Attached Image (click to enlarge)
Click to Enlarge Name: setup2.png Size: 73 KB
  • #7,663
  • Edited 9:11pm Mar 16, 2015 7:35pm | Edited 9:11pm
As to whether it's a wave 4 or not has still to be confirmed. Should it fade from here it must still pass below 178.5 ~7 and make a new low.

The converse is that the move up to 185 and then down to 178 is/was only part of a large correction that goes on to recaptures 181.6/8 and 182 and eventually stays up.

A fade from somewhere in this area MAY incur a large bounce upon return to about 178.8, but I reckon that under about 178.3/4 it tracks south again. Interpretation of standard Elliot waves does say 'down' but the overall structure since the first break of 179 back in November until right now says it could yet be something quite different...but is still unproven.

The first test of it being bearish occurred last week with the easy loss of 181.8 and failure to reclaim from nominal support just below at effectively the daily 50 sma.. This is its next test.
  • #7,664
  • Mar 16, 2015 8:03pm Mar 16, 2015 8:03pm
Quoting FX-Ray
Anyway, back to trading. If 1/2 180.00/79.90 support next probably DP 180.50/40; There are 3 setup's Im paying attention atm: (1) If price reached and breaks DP 180.50/40 and rejects 1/2 180.85/75 and breaks DP 180.50/40 from above, we could see a test of DP 179.50/40. (2) Price reached DP 180.50/40 and its resistance, next is DP 179.50/40 then. (3) Price breaks DP 180.50/40 and is support, next is DP 181.20/10 then. {image}
Hi Fx-Ray,
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1316.jpg Size: 328 KB
The world you desire can be won. It exists.. it is real.. it is possible..
  • #7,665
  • Mar 16, 2015 8:04pm Mar 16, 2015 8:04pm
Guys watch out for that monetary policy statement. Imo could be any minute.

Is out.
"I know one thing, that I know nothing." Sokrates
  • #7,666
  • Mar 16, 2015 8:10pm Mar 16, 2015 8:10pm
I'd really like to dump something here since it really bothers me. I got few hints via e-mail regarding links/sources and content in this thread.

I believe if you use a other people's intellectual property you should give him credit for his work, thats the least thing you can do since you (obviously) learned something and you didnt pay for it at all.

Thats why I added another rule to this thread:

#Rule 7: Other people's intellectual property must to be marked as such.
  • #7,667
  • Mar 16, 2015 8:12pm Mar 16, 2015 8:12pm
Quoting Mr. Scott
{quote} Hi Fx-Ray,
Hi Scott, thanks for chart, looks good

Quoting Tom_D_Trader
Guys watch out for that monetary policy statement. Imo could be any minute. Is out.
Perfect, thanks mate.
  • #7,668
  • Edited 8:30pm Mar 16, 2015 8:13pm | Edited 8:30pm
Quoting FX-Ray
Anyway, back to trading. If 1/2 180.00/79.90 support next probably DP 180.50/40; There are 3 setup's Im paying attention atm: (1) If price reached and breaks DP 180.50/40 and rejects 1/2 180.85/75 and breaks DP 180.50/40 from above, we could see a test of DP 179.50/40. (2) Price reached DP 180.50/40 and its resistance, next is DP 179.50/40 then. (3) Price breaks DP 180.50/40 and is support, next is DP 181.20/10 then. {image}
Nice rejection of 179.90

Add: too bad we are not in the london session right now; I think if volatility is decent 2morrow we gonna get some nice opportunities both sides. Had a long day, need some sleep, laters fellows

Inserted Video
  • #7,669
  • Mar 16, 2015 8:37pm Mar 16, 2015 8:37pm
The only things bearish about it right now is that this 4hr candle remains lower than the previous two, the 4hr is running in over bought and the daily is losing its oversold status.

Bollinger band support at 178.4 is going flat, whereas a few brief hours ago it suggested strong support there. It could still an issue later though.
  • #7,670
  • Mar 16, 2015 8:40pm Mar 16, 2015 8:40pm
Add sell GJ 180.07 guys
  • #7,671
  • Mar 16, 2015 10:50pm Mar 16, 2015 10:50pm
lets see if Tuesday will be just as boring as Monday
  • #7,672
  • Mar 16, 2015 11:29pm Mar 16, 2015 11:29pm
eyeing some R in the aussie near 7647/50 for some shorts...
Look Sharp/Trade Tight
  • #7,673
  • Mar 16, 2015 11:31pm Mar 16, 2015 11:31pm
EU update

Last high 1.0619 print a retrace to 1.05104 - 1.05506.

may be here long for 1.05933 level

Norm @ 1.05547 has been printed
  • #7,674
  • Mar 16, 2015 11:33pm Mar 16, 2015 11:33pm
Quoting PayTheLimit
eyeing some R in the aussie near 7647/50 for some shorts...
morning master shorts for me not before 0.76544
  • #7,675
  • Mar 16, 2015 11:40pm Mar 16, 2015 11:40pm
Quoting Schickeria
{quote} morning master shorts for me not before 0.76544
risk?
Look Sharp/Trade Tight
  • #7,676
  • Mar 16, 2015 11:45pm Mar 16, 2015 11:45pm
Quoting Schickeria
EU update Last high 1.0619 print a retrace to 1.05104 - 1.05506. may be here long for 1.05933 level Norm @ 1.05547 has been printed

what a surprice ????
  • #7,677
  • Mar 16, 2015 11:48pm Mar 16, 2015 11:48pm
Quoting PayTheLimit
{quote} risk?
0.76544 printed

i don't use SL (only mental one)
  • #7,678
  • Mar 16, 2015 11:52pm Mar 16, 2015 11:52pm
Quoting Schickeria
{quote} 0.76544 printed i don't use SL (only mental one)
gotcha...well lets see what transpires now...
Look Sharp/Trade Tight
  • #7,679
  • Mar 16, 2015 11:52pm Mar 16, 2015 11:52pm
Quoting PayTheLimit
{quote} risk?
i'm watching 0.7900 to short AUDUSD or to load longs below 0.75000

AUDUSD has a extrem postion on COT Data for the next days/weeks - will wait for better levels.
  • #7,680
  • Mar 16, 2015 11:56pm Mar 16, 2015 11:56pm
I think I'm early, seems like 7663 might have been a better spot....anyway stay with what I have now...
Look Sharp/Trade Tight
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