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Dragon Riders GBP/JPY

  • #12,101
  • Oct 16, 2015 9:53pm Oct 16, 2015 9:53pm
Quoting badblood
I'm sure you are getting tired of my repetition. Managed entries by closing, adding etc. Entries @ 183.199 and 181.946. Still looking for that illusive 192.20 Channel? {image}
Might very well have one....according to the rules I follow, 3 touches is what is needed for a trendline to be considered valid and that channel definitely has the touches

the upper descending trendline shown in a chart I previously posted, which I am attaching again below, seems to have changed from resistance to temporary support. That change plus the break of 184.4 has me looking to buy a bounce from that left trendline on sun/monday.

Also, the GU chart I posted previously, which Ill post again below, has a rising trendline very similar to the one on GJ so...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GJ 10.33.01 PM.png Size: 48 KB
Click to Enlarge Name: GU.png Size: 55 KB
  • #12,102
  • Oct 17, 2015 4:56am Oct 17, 2015 4:56am
Quoting raiders
{quote} Might very well have one....according to the rules I follow, 3 touches is what is needed for a trendline to be considered valid and that channel definitely has the touches the upper descending trendline shown in a chart I previously posted, which I am attaching again below, seems to have changed from resistance to temporary support. That change plus the break of 184.4 has me looking to buy a bounce from that left trendline on sun/monday. Also, the GU chart I posted previously, which Ill post again below, has a rising trendline very similar...
I too believe the pair has found support and may head higher on Monday/next week
-CKB
  • #12,103
  • Edited 10:37am Oct 17, 2015 8:52am | Edited 10:37am
http://news.forexlive.com/!/japans-a...-soon-20151017

No further easing at the OCT. BOJ meeting. I've noticed the BOE clamoring about GBP being too high. The new school of thought is that if any action on rates is to be taken they should CUT rates instead of allowing deflation take hold. The other camp says end of 2016 for a rate rise. These are very bearish fundamental factors on both sides of this cross. A bunch of big U.S. companies reporting earnings this week. With the DOW rising past 17,000 again and these mediocre earnings in a slow growth landscape it is a recipe for the long sheep to be sheared yet again. I see 188 as the max on this pair. Fundamentals will catch up later than sooner but a regain of the uptrend on the daily chart, odds are looking worse.

Looking for a short pretty soon.
Be humble or be humbled.
  • #12,104
  • Oct 17, 2015 2:05pm Oct 17, 2015 2:05pm
yep....agree there T......exactly......
  • #12,105
  • Oct 17, 2015 2:30pm Oct 17, 2015 2:30pm
Quoting Temujin
http://news.forexlive.com/!/japans-a...-soon-20151017 No further easing at the OCT. BOJ meeting. I've noticed the BOE clamoring about GBP being too high. The new school of thought is that if any action on rates is to be taken they should CUT rates instead of allowing deflation take hold. The other camp says end of 2016 for a rate rise. These are very bearish fundamental factors on both sides of this cross. A bunch of big U.S. companies reporting earnings this week. With the DOW rising past 17,000...
This is similar to my technical analysis, but not sure if 188 max, we will see.
  • #12,106
  • Oct 18, 2015 11:01am Oct 18, 2015 11:01am
Next week:

186.90/80 weekly long target
185.70/60
183.20/10
182.60/50
181.40/30 weekly short target

  • #12,107
  • Oct 18, 2015 11:33am Oct 18, 2015 11:33am
GJ Monthly

If we stay above 184 and keep the trend, then im gonna shoot for 199.5
If we break the trendline then im shooting for 172.2 and 169

That trendline is the determining factor for me.
Attached Image (click to enlarge)
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  • #12,108
  • Oct 18, 2015 11:56am Oct 18, 2015 11:56am
Quoting FX-Ray
Next week: 186.90/80 weekly long target 185.70/60 183.20/10 182.60/50 181.40/30 weekly short target
that is noman's land here:
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 18 KB
Fix up, trade sharp ...
  • #12,109
  • Oct 18, 2015 12:06pm Oct 18, 2015 12:06pm
EU Weekly
Attached Image (click to enlarge)
Click to Enlarge Name: EU.png Size: 42 KB
  • #12,110
  • Oct 18, 2015 12:28pm Oct 18, 2015 12:28pm
interresting pair as of now..


yes its somewaht in "nomansland" .. ie. not quite clear ..

however we have some signs of weakness ,...

here is alil "foresight" crystall balling.. but.. thats just that...

Attached Image (click to enlarge)
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OTOH

one could try and test a breakout like so..

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if it fails , then weakness is confirmed and might turn into a SL cascade . which one should, if he hasent allready reverse his long position and short


i would say its a good spot to test the waters for a long breakout trade and on a failure reverse for short

if that short fails aswell.. then stay out of the market =. indecision , chop .. wait on the sidelines and watch how that resolves itself...

pretty straight forward in the "nomansland"

init?
  • #12,111
  • Edited 6:01pm Oct 18, 2015 2:21pm | Edited 6:01pm
Quoting Hickson
{quote} that is noman's land here: {image}
Thats what the numbers say, Ill stick to that, we gonna see next week if those are reliable.
  • #12,112
  • Oct 18, 2015 9:05pm Oct 18, 2015 9:05pm
186.84 has an unsquared candle up there....
  • #12,113
  • Oct 19, 2015 4:18am Oct 19, 2015 4:18am
i see it runs up. May be 185.03
  • #12,114
  • Oct 19, 2015 4:52am Oct 19, 2015 4:52am
Quoting datdle
i see it runs up. May be 185.03
For intraday that is not out of the question I am still in my Long but will take i t out soon if it doesnt break swing highs from 4h charts around the 9th
  • #12,115
  • Oct 19, 2015 5:08am Oct 19, 2015 5:08am
Target is actually 18598 on swing H4 chart, however it needs to break 18484 previous swing high
  • #12,116
  • Oct 19, 2015 5:52am Oct 19, 2015 5:52am
Quoting raiders
{quote} Might very well have one....according to the rules I follow, 3 touches is what is needed for a trendline to be considered valid and that channel definitely has the touches the upper descending trendline shown in a chart I previously posted, which I am attaching again below, seems to have changed from resistance to temporary support. That change plus the break of 184.4 has me looking to buy a bounce from that left trendline on sun/monday. Also, the GU chart I posted previously, which Ill post again below, has a rising trendline very similar...
Good day,

Thank you for the post, explanation as to what you consider and the charts. Appreciated

Trade well!
You can be anything you want to be
  • #12,117
  • Oct 19, 2015 6:42am Oct 19, 2015 6:42am
GJ has break out of the range.now a good entry may present during pullback
-CKB
  • #12,118
  • Oct 19, 2015 4:32pm Oct 19, 2015 4:32pm
So....still havent gone long because im waiting for a bounce. maybe it will come tonight?? who knows....
Good luck all!

Also, EU short down to that rising trendline might be on the ticket. Will revisit the idea in a few hours.
  • #12,119
  • Oct 19, 2015 5:13pm Oct 19, 2015 5:13pm
184.20/10 hot spot
  • #12,120
  • Oct 19, 2015 5:42pm Oct 19, 2015 5:42pm
Quoting badblood
{quote} Good day, Thank you for the post, explanation as to what you consider and the charts. Appreciated Trade well!
Since i know you like trendlines i thought you might like this

AU 4H
Attached Image (click to enlarge)
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