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Dragon Riders GBP/JPY

  • #11,281
  • Edited 4:04pm Jul 2, 2015 8:30am | Edited 4:04pm
Quoting Gupz
I'm thinking to buy at 192.1. Got the feeling its gonna move to close gap if greece votes yes! (which i think they will). People needs to stop buying yen lol
i think thats a good price

edit: tend line i have is now broken to the downside. so i start to look south
  • #11,282
  • Edited 11:32pm Jul 2, 2015 11:20pm | Edited 11:32pm
Quoting gespiri
{quote} I think this will try to close the gap at 194.68 to complete the corrective wave B then down to 189.14 - 188 (C). After that goes wave 5 to 200.00 if everything is met. We'll see what happens.
yes the gap will be closed next week

the markets are currently suspended over the july 5 greece decision, till then its dangerous trading anything.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH4.png Size: 45 KB
  • #11,283
  • Jul 3, 2015 1:14am Jul 3, 2015 1:14am
Quoting alexpi
{quote} I'm against all positions here. Trading long as a retail trader is as foolish as trading short. Below is my chart, I wouldn't trade the long unless we go down to 188. I wouldn't trade the short unless I see one of the two scenarios on the chart over the next 2-3 weeks. If we drop straight into 188 without a test of the heights I will long, but longing right here, this high, is just suicide, especially if this is done consistently in the long-term {image} {image}
So far so good.

If we stay below 192.291 TL is broken, but I'm not placing any trades until end of day on Monday because things could get crazy with Greek referendum results
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDaily.png Size: 41 KB
  • #11,284
  • Jul 3, 2015 8:11am Jul 3, 2015 8:11am
Time to buy again yet?

wait til after sunday?
  • #11,285
  • Jul 3, 2015 3:15pm Jul 3, 2015 3:15pm
any view how the GBPJPY pair move on monday trading session
  • #11,286
  • Jul 6, 2015 11:04am Jul 6, 2015 11:04am
my view, if it breaks 190.11, it may go to 187.40...
use leverage with caution...
  • #11,287
  • Jul 6, 2015 11:41pm Jul 6, 2015 11:41pm
long right there at 12:30 am in New York.....
for the ride up to the next fibo
  • #11,288
  • Jul 7, 2015 1:37am Jul 7, 2015 1:37am
Gonna pick a long if it goes back to 189.7
  • #11,289
  • Jul 7, 2015 4:29am Jul 7, 2015 4:29am
OK, So the report out of the UK wasn't bad enough to cause that kind of a reaction surely..

Why oh why did the market just bottom out?
  • #11,290
  • Jul 7, 2015 4:52am Jul 7, 2015 4:52am
Quoting Talzus
OK, So the report out of the UK wasn't bad enough to cause that kind of a reaction surely.. Why oh why did the market just bottom out?
We're in stop hunting/bear trapping mode since Friday. Potential bottom for GBPUSD will be 1.543/0 and that's when GBPJPY could bottom out. I was expecting GJ to be at 198.7 when GU is at 1.543 but seeing as GU is still at 1.549 one of the numbers is off.

GJ could penetrate the bottom or GU could start bouncing up. Waiting mode, not buying as initially planned to do

Edit: The horrendous upward PA on 1M is a sell signal IMO but not gonna take this, waiting for 189.0 or 188.5 for some sort of signal that the downward pump is stopping
  • #11,291
  • Jul 7, 2015 5:58am Jul 7, 2015 5:58am
Quoting alexpi
{quote} We're in stop hunting/bear trapping mode since Friday. Potential bottom for GBPUSD will be 1.543/0 and that's when GBPJPY could bottom out. I was expecting GJ to be at 198.7 when GU is at 1.543 but seeing as GU is still at 1.549 one of the numbers is off. GJ could penetrate the bottom or GU could start bouncing up. Waiting mode, not buying as initially planned to do Edit: The horrendous upward PA on 1M is a sell signal IMO but not gonna take this, waiting for 189.0 or 188.5 for some sort of signal that the downward pump is stopping

Epic bear run. Luckily I had a good day yesterday so closed most of my trades. Got stopped out on everything today though. Licking my paws..
  • #11,292
  • Jul 7, 2015 6:25am Jul 7, 2015 6:25am
My 2 cents.
Monthly chart still supports price increase from present situation
Weekly chart shows still strong uptrend. - Last couple of years this pair has retraced commonly to the 61.8 fib level. That being the case this retracement, may keep going until around 1.83000 level
I have attached Daily chart for clarity
For what its worth
Attached Image (click to enlarge)
Click to Enlarge Name: GBP.JPY.jpg Size: 97 KB
Respect the inescapable certainity of Math
  • #11,293
  • Jul 7, 2015 6:56am Jul 7, 2015 6:56am
Quoting Agent Orange
My 2 cents. Monthly chart still supports price increase from present situation Weekly chart shows still strong uptrend. - Last couple of years this pair has retraced commonly to the 61.8 fib level. That being the case this retracement, may keep going until around 1.83000 level I have attached Daily chart for clarity For what its worth {image}

Thanks for the input.

Gonna take a step back and wait til I get home, re-assess and plan some trades for tomorrow. I am calling it a day. to much loss for me to take for one day.

It was due to happen eventually, my own fault for not paying attention.
  • #11,294
  • Jul 7, 2015 7:04am Jul 7, 2015 7:04am
Quoting Talzus
{quote} Thanks for the input. Gonna take a step back and wait til I get home, re-assess and plan some trades for tomorrow. I am calling it a day. to much loss for me to take for one day. It was due to happen eventually, my own fault for not paying attention.
Can't learn to profit until you lose some sadly Don't be downhearted about this
  • #11,295
  • Jul 7, 2015 10:15am Jul 7, 2015 10:15am
anyone seeing the bull signal? im gonna wait till 2 hrs and observe if its time to buy, id buy if price bounces greater than 189.7. Thoughts?
  • #11,296
  • Jul 7, 2015 2:26pm Jul 7, 2015 2:26pm
Long at 189.40. 189 level defended very nicely
Good luck and may the odds be ever in your favor!
  • #11,297
  • Jul 7, 2015 2:29pm Jul 7, 2015 2:29pm
Quoting dbutton1990
Long at 189.40. 189 level defended very nicely
Looking at weekly chart, the 190-200 range could be tough to get through. We had a bear/bull battle for several weeks before the bears won. Let's see what happens
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-07-07_14-30-00.png Size: 30 KB
Good luck and may the odds be ever in your favor!
  • #11,298
  • Jul 7, 2015 3:23pm Jul 7, 2015 3:23pm
Quoting dbutton1990
{quote} Looking at weekly chart, the 190-200 range could be tough to get through. We had a bear/bull battle for several weeks before the bears won. Let's see what happens {image}
Attaching 1 clean chart so you can see the real market movement at the time

Also 1 more chart with current analysis, caught long from 188.47 on the first 5M retracement from 188 departure, as per post http://www.forexfactory.com/showthre...16#post8347516

So far so good

Short at 194.4-196 is no longer all that good/high probability considering how deeply down we corrected so removed sell limit for now
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPYWeekly.png Size: 66 KB
Click to Enlarge Name: GBPJPYDaily.png Size: 59 KB
  • #11,299
  • Jul 7, 2015 6:08pm Jul 7, 2015 6:08pm
good reading you guys.....yep, that was a bear flagg pennant shaped one....had target at 189.67, went up but came back for a reset.....that's all wave 4....for ya elliotts out there....187.xx is the lowest expected if its a four....rule of alternation has been approved so....if ya can't figure the price action, you're probably in a wave four!!.
  • #11,300
  • Jul 8, 2015 2:53am Jul 8, 2015 2:53am
It's been a while since I've posted here....busy on my trip in Europe and shorting the euro. I've never had a cheaper tour of Europe, that's for sure. Only problem is that my parents made me pay for everything. And I mean EVERYTHING.

Long gbp/jpy on 187.338. Optimal target at 189.00 +/- 15 pips, hard SL at 186.600, manual soft SL. Highly subject to change.

Attached Image (click to enlarge)
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Pending short scalp for eur/usd at 1.10600, initials targets at 1.09700, 1.09200/100, 1.08300. Hard SL at 1.10850, manual soft SL. Good chance of me taking partials or leaving early at halfway points in between the targets.

Update: eur/usd short filled early at 1.10550.

Attached Image (click to enlarge)
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By the way, it's waaay too quiet here. Last time I was posting here, we still had over two dozen posts a day even without our thread creator FxRay.....what happened?
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