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Dragon Riders GBP/JPY

  • #9,801
  • Apr 2, 2015 4:43am Apr 2, 2015 4:43am
Quoting FX-Ray
{quote} Thanks anima999, it wasnt a day off, I worked on some other projects. 1/2 is important since we also got the daily close there too (26th march). According to price behaviour (weakness) DP 175.80/70 is likely. If 1/2 should hold as support we could see a test DP 178.10/00 again. Nontheless I dont like price behaviour atm, thats why Im flat in G/J. Add: Its important to recognize those market stages and to stay out, its as important as having a position.
Yeah, 179 is looking more and more unlikely, especially after price couldn't even make it to 177.9/178.00 today...
  • #9,802
  • Apr 2, 2015 4:45am Apr 2, 2015 4:45am
Quoting alexpi
{quote} Yeah, 179 is looking more and more unlikely, especially after price couldn't even make it to 177.9/178.00 today...
I mean if I look at it intraday, I feel like to stay out. Dont bother with it, those stages appears and dissapears as quick as they arrived. Waiting is just more important as trading or at least equal.
  • #9,803
  • Apr 2, 2015 5:13am Apr 2, 2015 5:13am
1/2 176.95/85 printed. If positive next probably DP 178.10/00, if negative next probably DP 175.80/70 or 1/4 176.375/275
  • #9,804
  • Apr 2, 2015 5:16am Apr 2, 2015 5:16am
Quoting FX-Ray
{quote} Okay, topic closed then. Back to trading.
Good idea, I can't read german and Google translate doesn't make all that much sense.

Ray, you have a lightening symbol on your GU chart, what's that for? Might be a bone question but gotta know.
GJ getting close to that half level. What about the PA gives you the impression of weakness?

I've been looking at cable and Aussie this week just so I have something to trade when GJ isn't playing.
  • #9,805
  • Apr 2, 2015 5:20am Apr 2, 2015 5:20am
Quoting anima999
{quote} Good idea, I can't read german and Google translate doesn't make all that much sense. Ray, you have a lightening symbol on your GU chart, what's that for? Might be a bone question but gotta know. GJ getting close to that half level. What about the PA gives you the impression of weakness? I've been looking at cable and Aussie this week just so I have something to trade when GJ isn't playing.
Just wanted to highlight the rejection (G/U). It depends on current level if we see a test of it or continue south. If you watch intraday G/J every upwave is sold more or less. Anyway we are at 1/2 176.95/85 (G/J), should get interesting here.

Add: Pic added, there you go.
Attached Image (click to enlarge)
Click to Enlarge Name: 1m.png Size: 55 KB
  • #9,806
  • Apr 2, 2015 5:51am Apr 2, 2015 5:51am
Quoting FX-Ray
{quote} Just wanted to highlight the rejection (G/U). It depends on current level if we see a test of it or continue south. If you watch intraday G/J every upwave is sold more or less. Anyway we are at 1/2 176.95/85 (G/J), should get interesting here. Add: Pic added, there you go. {image}
For what it's worth, GU just rejected 1.48100, which was a key support on the hourly & 30min chart, so for the moment I'm leaning towards further down.
  • #9,807
  • Apr 2, 2015 5:54am Apr 2, 2015 5:54am
Quoting Vermillion
{quote} For what it's worth, GU just rejected 1.48100, which was a key support on the hourly & 30min chart, so for the moment I'm leaning towards further down.
1.4775 is important here, if she is able to take it out I got 1.4750/40; otherwise 1.4810
  • #9,808
  • Apr 2, 2015 5:59am Apr 2, 2015 5:59am
Quoting FX-Ray
{quote} Just wanted to highlight the rejection (G/U). It depends on current level if we see a test of it or continue south. If you watch intraday G/J every upwave is sold more or less. Anyway we are at 1/2 176.95/85 (G/J), should get interesting here. Add: Pic added, there you go. {image}
Thanks, that pic explains it well.
  • #9,809
  • Apr 2, 2015 6:02am Apr 2, 2015 6:02am
Sixth retest in just as many days and looks like it will be positive again...

Oh geppy, you're such an emotional rollercoaster...
  • #9,810
  • Apr 2, 2015 6:06am Apr 2, 2015 6:06am
Quoting alexpi
Sixth retest in just as many days and looks like it will be positive again... Oh geppy, you're such an emotional rollercoaster...
Hope so, I bought at 176.85, tight SL at -10pips, TP at the dreaded 1/4 level.
  • #9,811
  • Apr 2, 2015 6:08am Apr 2, 2015 6:08am
Found an interesting reading

High Frequency Trading: Price Dynamics Models and
Market Making Strategies

http://www.eecs.berkeley.edu/Pubs/Te...S-2012-144.pdf

Best,
D.P.
Hunting High and Low
  • #9,812
  • Apr 2, 2015 6:11am Apr 2, 2015 6:11am
Gais, I call this formation "Dragon's Roar"

It's legit, trust me
Attached Image (click to enlarge)
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  • #9,813
  • Apr 2, 2015 6:15am Apr 2, 2015 6:15am
Quoting Gbp/jpy
We can go see his home planet??..... eta....buy the crap out of the aussie on that news drop....7700 target for those Elliott wave followers.

A daily TL is coming in at 0.7500 area............maybe down to there...............AU
The More You Learn, The More You Earn.....
  • #9,814
  • Apr 2, 2015 6:17am Apr 2, 2015 6:17am
Quoting forexalien
{quote} A daily TL is coming in at 0.7500 area............maybe down to there...............AU
Sorry for correcting Alien, but did you mean monthly?

Edit: Ohhh I see, drawn on the prior two bottoms. Coincides with 3M uptrend so I thought you meant to say that
  • #9,815
  • Apr 2, 2015 6:19am Apr 2, 2015 6:19am
Quick move .. 177,50 pt. see if we reach it :-)
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPJPYH1.png Size: 27 KB
  • #9,816
  • Apr 2, 2015 6:21am Apr 2, 2015 6:21am
Nice rejection of 1/2 176.95/85

Add: If she is able to hold it, next probably 178.10/00; it it turns resistance, next probably 175.80/70
Attached Image (click to enlarge)
Click to Enlarge Name: long3.png Size: 49 KB
  • #9,817
  • Apr 2, 2015 6:32am Apr 2, 2015 6:32am
Quoting anima999
{quote} Hope so, I bought at 176.85, tight SL at -10pips, TP at the dreaded 1/4 level.
SL moved to +10. TP is going to stay at 1/4 .500. My position is too small to take partial and there something about that level this week.
  • #9,818
  • Apr 2, 2015 6:32am Apr 2, 2015 6:32am
It takes time. The last time GJ successfully broke through this particular technical resistance was 150 weeks ago at 124.8. Back then it took over a week. Curiously, when it finally broke back then, it collapsed 600 pips and that was the 2nd last low before the big rise.

That's why this place may have more significance than we realise.
  • #9,819
  • Apr 2, 2015 6:32am Apr 2, 2015 6:32am
Quoting anima999
{quote} SL moved to +10. TP is going to stay at 1/4 .500. My position is too small to take partial and there something about that level this week.
anima999, how would you describe price behaviour at 1/4, the last 4 days?
  • #9,820
  • Apr 2, 2015 6:35am Apr 2, 2015 6:35am
No banter today

Ori and the blind forest's soundtrack will lift some spirits hopefully

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