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Dragon Riders GBP/JPY

  • #11,081
  • May 21, 2015 8:26pm May 21, 2015 8:26pm
Quoting raiders
GU 5812? GJ 190.2/190.6? thoughts?
Might retrace a little bit more to the South before more North movement.

Don't really like the current PA mainly because of the fact that GJ is overbought and on high following yesterday news.
  • #11,082
  • May 21, 2015 8:40pm May 21, 2015 8:40pm
Quoting raiders
GU 5812? GJ 190.2/190.6? thoughts?
ditto....cable is the one to take advantage of the dollar delay....so us/jpy upwards too....will that turbo- boost the gbp/jpy?
  • #11,083
  • May 21, 2015 8:50pm May 21, 2015 8:50pm
AU long target 7985/8000
  • #11,084
  • May 21, 2015 9:46pm May 21, 2015 9:46pm
btw, i just realized that the GJ weekly has a potential double top. tread lightly tonight
  • #11,085
  • May 21, 2015 11:34pm May 21, 2015 11:34pm
Quoting raiders
btw, i just realized that the GJ weekly has a potential double top. tread lightly tonight
Yes, it's breaking out; while a (b) wave of a correction may also break out before reversing completely on a (c).
Watching downside potential.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDaily 22May15.png Size: 52 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #11,086
  • May 21, 2015 11:40pm May 21, 2015 11:40pm
Quoting skyhok
{quote} Yes, it's breaking out; while a (b) wave of a correction may also break out before reversing completely on a (c). Watching downside potential. {image}
nice chart! do you do your own targets or do you have a indi for that?
also where is the top of your C? 190.2ish?

Thanks!
  • #11,087
  • May 22, 2015 12:49am May 22, 2015 12:49am
Quoting raiders
AU long target 7985/8000
and im out. might jump back in if it hits 7905
  • #11,088
  • Edited 2:59am May 22, 2015 2:44am | Edited 2:59am
Quoting raiders
{quote} nice chart! do you do your own targets or do you have a indi for that? also where is the top of your C? 190.2ish? Thanks!
That's a good question!

According to an EW guideline, wave (b) and therefore wave c would terminate bet. 101-138.2% of (a), but of course that's such a wide target range to be considered tradable.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH4 22May15b.png Size: 61 KB

So patience is required here and watch PA of the final minor waves developing in wave c.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1 22May15c.png Size: 52 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #11,089
  • May 22, 2015 3:26am May 22, 2015 3:26am
Thanks both
  • #11,090
  • May 23, 2015 9:42am May 23, 2015 9:42am
gbp/jpy downtrend started ?

thanks
  • #11,091
  • May 23, 2015 11:52pm May 23, 2015 11:52pm
hey Skyrocket....down moves in the euro and euro/aud.....
this gbp/jpy.....when the crap hits the fan, this is the instrument that will show first....in 2008, by twenty minutes........
  • #11,092
  • May 26, 2015 1:20am May 26, 2015 1:20am
only 2 pairs im watching this week are GJ and EU
GJ up and EU down


I take that back lol AJ looks nice too
  • #11,093
  • May 26, 2015 7:41am May 26, 2015 7:41am
Guys, im shorting gj now.
Any advice ? Looks like the uptrend momentum is still fking strong though.
There is no profitable or non-profitable day, trade is a trade.
  • #11,094
  • May 26, 2015 8:24am May 26, 2015 8:24am
6 month double top, AB CD pattern completed, Bearish Engulfing on Daily, MACD divergence, 190.000 psychological level.
  • #11,095
  • May 26, 2015 9:01am May 26, 2015 9:01am
Looks obvious it's pushing up for a final run, but how far up?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1 26May15.png Size: 33 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #11,096
  • May 26, 2015 10:15am May 26, 2015 10:15am
so ur final target 193 ?
  • #11,097
  • Edited 4:34pm May 26, 2015 4:21pm | Edited 4:34pm
ok Dragon Riders....long because we 're all positive on this decision point....above that 189.20....then the weekly wick may mean sell at any moment....
  • #11,098
  • May 26, 2015 8:05pm May 26, 2015 8:05pm
i can see w pattern on weekly chart, so gbp fall i guess , but who knows how far it goes before falling
  • #11,099
  • May 26, 2015 8:28pm May 26, 2015 8:28pm
long long long... target for 190.11!
use leverage with caution...
  • #11,100
  • May 26, 2015 9:14pm May 26, 2015 9:14pm
I wouldn't be to eager to start shorting, (depending on ones timeframe of course) I see nothing yet to take such a premature action, looks to be tapping at a resistance line atm but being Tokyo its likely not going to punch through till London.
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