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Dragon Riders GBP/JPY

  • #9,421
  • Mar 27, 2015 4:30am Mar 27, 2015 4:30am
Even after the break, the GBPJPY could witness 176.30 and 175.30 as strong support before extending declines to 174 mark.
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  • #9,422
  • Mar 27, 2015 4:30am Mar 27, 2015 4:30am
Quoting FX-Ray
{quote} Nice call dude, you shorted it?
hi, Ray
GY down to 176.7x
short up? tanget?
  • #9,423
  • Mar 27, 2015 4:32am Mar 27, 2015 4:32am
Quoting pepsiez
{quote} hi, Ray GY down to 176.7x short up? tanget?
Depends on 1/4 176.575/475; if support next probably 1/2 177.35/25, if resistance next probably DP 175.80/70
  • #9,424
  • Mar 27, 2015 4:35am Mar 27, 2015 4:35am
Quoting FX-Ray
{quote} Depends on 1/4 176.575/475; if support next probably 1/2 177.35/25, if resistance next probably DP 175.80/70
She's been fighting this ceiling, Ray, for the past 2 days.
Lost....
  • #9,425
  • Mar 27, 2015 4:47am Mar 27, 2015 4:47am
Did I just miss something. Plus 40 pips in a matter of minutes...
  • #9,426
  • Mar 27, 2015 4:47am Mar 27, 2015 4:47am
Quoting gespiri
{quote} She's been fighting this ceiling, Ray, for the past 2 days.
Good observation, if 1/2 177.35/25 positive, 1/4 176.575/475 is probably the temp bottom.
  • #9,427
  • Mar 27, 2015 4:48am Mar 27, 2015 4:48am
Quoting anima999
Did I just miss something. Plus 40 pips in a matter of minutes...
haha that's what I came here to say Ridiculous 5-minute move
  • #9,428
  • Mar 27, 2015 4:48am Mar 27, 2015 4:48am
boe saying next move likely to be rate hike
  • #9,429
  • Mar 27, 2015 4:49am Mar 27, 2015 4:49am
Quoting raiders
boe saying next move likely to be rate hike
With almost-negative inflation and bad economic results overall they want to hike rates? These are dangerous waters
  • #9,430
  • Mar 27, 2015 4:50am Mar 27, 2015 4:50am
its going up imo just wait for the .40 break to save yourself the ping pong bullshit
  • #9,431
  • Mar 27, 2015 4:52am Mar 27, 2015 4:52am
Quoting alexpi
{quote} With almost-negative inflation and bad economic results overall they want to hike rates? These are dangerous waters
they got no choice. currency wars going on right now. i love it. makes for market volatility and more money to be made
  • #9,432
  • Mar 27, 2015 4:54am Mar 27, 2015 4:54am
"likely that next move in rates to be hike" is such a political thing to say

Edit: If it bounces down here (below 177.2) I'm shorting.

Edit2: Reason is that this is old news, it will be a simple case of price pumping and hunting for retail bulls' stop-losses
  • #9,433
  • Mar 27, 2015 5:18am Mar 27, 2015 5:18am
Quoting FX-Ray
{quote} Good observation, if 1/2 177.35/25 positive, 1/4 176.575/475 is probably the temp bottom.
There we go, those who are long @ 1/4 176.575/475; protect profits below 1/2 177.35/25; next should be 1/4 178.125/025
  • #9,434
  • Mar 27, 2015 5:33am Mar 27, 2015 5:33am
Quoting FX-Ray
{quote} There we go, those who are long @ 1/4 176.575/475; protect profits below 1/2 177.35/25; next should be 1/4 178.125/025
Good call. It breached the 177.60 level so it's a good probability that it will reach the next level at 178.10. The CCI is overbought while the RSI is getting up there (1hr).
Lost....
  • #9,435
  • Mar 27, 2015 5:37am Mar 27, 2015 5:37am
Quoting gespiri
{quote} Good call. It breached the 177.60 level so it's a good probability that it will reach the next level at 178.10. The CCI is overbought while the RSI is getting up there (1hr).
You remember the wednesday (range day) 1/4 178.125/025? Since price declined there, its probable there are still sitting shorts on their positions, if we get a print there and they bail out (becoming buyers) we could see some acceleration to DP 178.90/80. Thats just an idea so far, since we need the print in the first place plus 1/2 177.35/25 as support.
  • #9,436
  • Mar 27, 2015 5:40am Mar 27, 2015 5:40am
I don't trust this rise, not doing anything atm.
  • #9,437
  • Mar 27, 2015 5:43am Mar 27, 2015 5:43am
Quoting alexpi
I don't trust this rise, not doing anything atm.
Interesing statement, do you mind to explain what condition would earn your trust, am curious. cheers.
  • #9,438
  • Mar 27, 2015 5:47am Mar 27, 2015 5:47am
Quoting FX-Ray
{quote} You remember the wednesday (range day) 1/4 178.125/025? Since price declined there, its probable there are still sitting shorts on their positions, if we get a print there and they bail out (becoming buyers) we could see some acceleration to DP 178.90/80. Thats just an idea so far, since we need the print in the first place plus 1/2 177.35/25 as support.
I remember. Incidentally, the 178.50 is the 200EMA on the hourlies. Therefore, the 178.80 could be a valid target as an extension.

I've read that all GBP pairs tend to correct at the 76.4% level (179.23), not 61.8% (178.70).

At this point, it could close above 177.60, correct, and try to reach the 178.70. It's gonna be ugly.

What about the 175.70 level? Is this invalid at this point?
Lost....
  • #9,439
  • Mar 27, 2015 5:57am Mar 27, 2015 5:57am
Quoting gespiri
{quote} I remember. Incidentally, the 178.50 is the 200EMA on the hourlies. Therefore, the 178.80 could be a valid target as an extension. I've read that all GBP pairs tend to correct at the 76.4% level (179.23), not 61.8% (178.70). At this point, it could close above 177.60, correct, and try to reach the 178.70. It's gonna be ugly. What about the 175.70 level? Is this invalid at this point?
But you have personal evidence/experience to that statement? I just wanna say base your judgement on your experience only, not what you've read.
What I can tell you from my experience is, I'd never short the 76.4% level simply because it already too late then.


DP 175.80/70; 1/4 176.575/475 needs to break.
1/4 178.125/025; 1/2 177.35/25 needs to hold.
1/4 176.575/475; 1/2 177.35/25 needs to break.

Anyway you said 200 EMA on the hourly, this means you warch 8 1/3 days of average price. Try to adapt the MA's to the TF, not vice versa, for example:

Lets assume your TF is the hourly. Why would you use 200ema?

MA(120) on H1 = W1
MA(24) on H1 = D1
MA(4) on H1 = 4H

No offence, just saying
  • #9,440
  • Mar 27, 2015 5:59am Mar 27, 2015 5:59am
Hi, im new to forex and this is the first time i trade geppy, can anyone give me some advice on where to start with this pair please ?
Though i did read earlier and blindly put a long at 177.1 and still got some pips there (also moved my sl to B/E though )
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