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Dragon Riders GBP/JPY

  • #10,781
  • Apr 29, 2015 4:01am Apr 29, 2015 4:01am
Wow, what is going on with all the yen crosses? I mean, I've seen overbought before, but nothing like this...
  • #10,782
  • Apr 29, 2015 6:54am Apr 29, 2015 6:54am
I think i have the answer


http://www.forexfactory.com/showthread.php?p=8197700&#post8197700
http://www.forexfactory.com/showthre...97#post8196997


this info was gold..he knew it ..
0 fcks given
  • #10,783
  • Apr 29, 2015 7:03am Apr 29, 2015 7:03am
Quoting raiders
loosing my patience with AU. going to exit
it has to go lower sometime....the u. s. dollar is the leader but....
  • #10,784
  • Apr 29, 2015 7:21am Apr 29, 2015 7:21am
With the USA Market about to open; Do we have any predictions to where this pair is going next?

I only trade daily candles. My scalping just loses me money I can't do it consistently.

So, I'm long, looking to target 184.44.

Any thoughts on why this would or wouldn't be a good target?

T
  • #10,785
  • Apr 29, 2015 8:56am Apr 29, 2015 8:56am
Quoting Talzus
I'm long, looking to target 184.44. Any thoughts on why this would or wouldn't be a good target? T
A good a target as meany. I am aiming looking for 184, should reach there maybe and 184.44 also, in M15 and M30 i visualize a HS left shoulder 183.5 and head 184.xx maybe someone is trying to draw an nice D1 candle for a reverse?

Then again I am not too god at predicting the fine detail and don't care much for signs and candles.
  • #10,786
  • Apr 29, 2015 9:40am Apr 29, 2015 9:40am
I hope noone got burned these last few days, been staying out of geppy since I can't make sense/find good entries
  • #10,787
  • Apr 29, 2015 9:47am Apr 29, 2015 9:47am
Quoting Gbp/jpy
{quote} it has to go lower sometime....the u. s. dollar is the leader but....
I see you clever guy....just out of curiosity, did the crazy moves earlier knock you out or was it just a scalp
  • #10,788
  • Apr 29, 2015 10:29am Apr 29, 2015 10:29am
Have a good one.

Good stuff here.

Crazy or not... (I will work with it a bit)


Attached Image
  • #10,789
  • Apr 29, 2015 12:02pm Apr 29, 2015 12:02pm
Quoting raiders
{quote} I see you clever guy....just out of curiosity, did the crazy moves earlier knock you out or was it just a scalp
yes those moves three days ago....I kept toggling between euro....g/j....and aussie.....got7 pips on the aussie and toggled over to the g/j....then the aussie surprised.
I swear thye Holy Spirit of God leads me. I get prodded in my mind, like the 189.66 high....the Spirit told me sell it, sell it...four times in a row....kinda takes away my techs and fundamentals kick in.
like right now....the 184.01 but I'm a bad believer.
After posting this reply....I better go short it ....fomc who knows

I went to short it but I felt led to buy the u/j....I'm a bad believer...
  • #10,790
  • Edited 2:35pm Apr 29, 2015 12:32pm | Edited 2:35pm
Oh hail.....I just toggled again....short on that ol' euro....

dang...the market is in a global get ready for the rapture mode....so I closed the euro sell out and the only trade left that makes safe sense is the buy us/yen....over 300 pips profit on the g/j and euro in 14 hours.....the only trade I can see is the u/j buy, because of all the jockeying for position....I don't even want to watch the fomc....just gotta go out to the barn I'm putting an interior in....the market is really hittin a gear....huh!

maybe one could set an entry order for the euro....sell at say.....um....uh....1234....that's the ticket yezz, now I got it...1.1234 is the sell...gbp/jpy has made the call, Latimer....( from a movie )
  • #10,791
  • Apr 29, 2015 10:24pm Apr 29, 2015 10:24pm
GU 1 more time north
target 546 maybe 550
  • #10,792
  • Apr 30, 2015 1:34am Apr 30, 2015 1:34am
That HS was pretty deformed, so much that its not a real HS.

North to 185 with GBPJPY SL under Support trendline M30 from 28 Aprl 18:30
  • #10,793
  • Apr 30, 2015 1:45am Apr 30, 2015 1:45am
Quoting Kissa
That HS was pretty deformed, so much that its not a real HS. North to 185 with GBPJPY SL under Support trendline M30 from 28 Aprl 18:30
Maybe the right shoulder starts around 182.25......
Lost....
  • #10,794
  • Apr 30, 2015 2:39am Apr 30, 2015 2:39am
Be cautious at about 184.35/4. There is some resistance there and that point is where this move would be equal in length to the previous 175/185 move. It will likely run through, but it could be significant.
  • #10,795
  • Apr 30, 2015 3:14am Apr 30, 2015 3:14am
Quoting Mpt
Be cautious at about 184.35/4. There is some resistance there and that point is where this move would be equal in length to the previous 175/185 move. It will likely run through, but it could be significant.

Closed out at 184.0. Rather lock in than watch the pips get taken away from me. Hopefully will drop and give another entry.
  • #10,796
  • Apr 30, 2015 4:01am Apr 30, 2015 4:01am
Quoting Talzus
{quote} Closed out at 184.0. Rather lock in than watch the pips get taken away from me. Hopefully will drop and give another entry.
There's always a problem analysing weekly/daily using lower time frames. However, using the 4hr TF, it has been climbing relentlessly in a rising wedge, which it broke out of 28 hours ago. Four hours ago, it fell back precisely into the centre of that wedge and bounced, determined to run for the next resistance. This is all normal. Should it fail soon, it returns to the lower side of the wedge at about 182 and if it can't survive, it drops further. Later, using that 4hr analogy, it retests the underside of the wedge from about 178/79.

Conversely, a break over 185 would mean it was a bullish wedge and essentially a subterfuge for breaking 185. It can play 'the game' up until the very last moment. And it would show the folly of even using a 4hr TF to read what is a bullish weekly TF thrust - I'm always amusing at people using 1hr TFs to analyse these sort of moves, but 4hr is the best I can do. It fails real soon or it breaks up with force - again
  • #10,797
  • Apr 30, 2015 4:09am Apr 30, 2015 4:09am
While the GBP pairs historically has a tendency of reversing at the 76.4 level, this channel pattern in the dailys made me want to go short.
1) It tested the 61.8 level twice with rejection
2) RSI and CCI on 1hr, 4hr, and daily are at overbought levels
3) Top downtrend channel still intact; might go all the way down to 161 (close to the 161.8 level) - blue lines

I wouldn't be surprised for this to close today close to 182.3 to test the 184 level again by tomorrow (end of week) before dropping. Time will tell.
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Lost....
  • #10,798
  • Apr 30, 2015 4:49am Apr 30, 2015 4:49am
If this thing closes above 184.11 on the 1hr, my ultimate target level will be 186.12 (or somewhere around there).
Lost....
  • #10,799
  • Apr 30, 2015 5:26am Apr 30, 2015 5:26am
And a very deep retest of the wedge top. Either a very bullish sign or a statement that any next high will kill it absolutely dead.
  • #10,800
  • Apr 30, 2015 5:39am Apr 30, 2015 5:39am
Quoting Mpt
And a very deep retest of the wedge top. Either a very bullish sign or a statement that any next high will kill it absolutely dead.
Do you have a chart? Is it a rising wedge (which TF)? A rising wedge usually signals a nearby top.
Lost....
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