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Dragon Riders GBP/JPY

  • #13,481
  • Dec 8, 2015 10:40pm Dec 8, 2015 10:40pm
Seeing yesterday cs open and close under 200 ema... I will wait for m30 cs close below 184.350 to short this pair...
  • #13,482
  • Dec 8, 2015 10:44pm Dec 8, 2015 10:44pm
Long, SL 184.10. TP 184.80
  • #13,483
  • Dec 9, 2015 12:13am Dec 9, 2015 12:13am
Here's what Ian says....USD JPY....


http://i1079.photobucket.com/albums/...psnehpneee.jpg
BIAS: Ideally I'd now like to see a move up to 123.75 - 124.25 at least



Resistance:123.00123.18123.47123.75
Support:122.71122.56122.22-25121.95-00



MAIN ANALYSIS: I was correct in suggesting that we should let the upside run and wait for bearish reversal indications. Clearly, the break below 123.00 suggested otherwise. However, I am encouraged by yesterday's decline that developed in 3-waves and suggestive of the final leg of a triangle. Thus, we should now see the expected gains above 123.75 but from that point watch for bearish reversal indications. The most likely range is between 123.75 and 124.24. There are higher projections at 124.52 and even as high as 124.86 but unless there is a catalyst it's less likely.

COUNTER ANALYSIS: Only a break back below 122.50 would suggest direct losses although we may find the 122.22-25 lows providing temporary support. Below 122.22 would risk direct losses down to 121.50 at least… Breach would suggest deeper losses.

MEDIUM TERM ANALYSIS:
9th December: The rally from 120.15 has been a complicated affair and after exploring the structure on many occasions I tend to feel that we'll see a high around 123.75-124.25 (although there are stronger projections to as high as 124.86. This could complete a correction (double zigzag) but could end up moving to the 125.85 high. Thus the next move is important. Either way, this still suggests we shall need to see losses at some point...

Good trading
Ian Copsey
  • #13,484
  • Dec 9, 2015 12:18am Dec 9, 2015 12:18am
I have 183,2 - 183,4 as an important level. Does someone else has this also as an important level? I have this as an important level on weekly and monthly charts.
  • #13,485
  • Dec 9, 2015 1:59am Dec 9, 2015 1:59am
Almost busted over night ...
Attached Image
Fix up, trade sharp ...
  • #13,486
  • Dec 9, 2015 2:18am Dec 9, 2015 2:18am
Quoting Hickson
Almost busted over night ... {image}
Funny, just were thinking about your long and as I saw almost-print of 04 I wished you a very small spread
  • #13,487
  • Dec 9, 2015 2:20am Dec 9, 2015 2:20am
... will buy one more if it takes out 184.70 convincingly.
Fix up, trade sharp ...
  • #13,488
  • Dec 9, 2015 2:24am Dec 9, 2015 2:24am
Got crushed on EA short though ... it was not a good idea, I cannot see what is going on there now after H4 trend has been broken. Aussie sold off and EU strength ... better get my hands off for now. Just tiny EU short 1.0921, risking 20 pips for a 1.0875 minimum target ... possible ...
Fix up, trade sharp ...
  • #13,489
  • Dec 9, 2015 3:20am Dec 9, 2015 3:20am
Quoting FX-Ray
{quote} H4 183.88/75 rejected. 184.38/25 being tested. Add: nice trade {image}
That was an excellent analysis, still holding it as far as we are above DP, waiting for the next one to take some down.
  • #13,490
  • Dec 9, 2015 3:22am Dec 9, 2015 3:22am
Quoting Hickson
Got crushed on EA short though ... it was not a good idea, I cannot see what is going on there now after H4 trend has been broken. Aussie sold off and EU strength ... better get my hands off for now. Just tiny EU short 1.0921, risking 20 pips for a 1.0875 minimum target ... possible ...
Hey Hickson, I see further Aud weakness coming up mate, trade carefully mate.
  • #13,491
  • Dec 9, 2015 3:23am Dec 9, 2015 3:23am
Quoting workingforex
{quote} Hey Hickson, I see further Aud weakness coming up mate, trade carefully mate.
Yes probably, missed the train, so dragged to the side lines ...
Fix up, trade sharp ...
  • #13,492
  • Dec 9, 2015 3:34am Dec 9, 2015 3:34am
Quoting workingforex
{quote} Hey Hickson, I see further Aud weakness coming up mate, trade carefully mate.
Did you get in Aussie on the daily Resistance on Friday?
Fix up, trade sharp ...
  • #13,493
  • Dec 9, 2015 3:40am Dec 9, 2015 3:40am
EA lift off for the moon...
Attached Image
We err, and err, and err again, but less.
  • #13,494
  • Dec 9, 2015 3:46am Dec 9, 2015 3:46am
gbp/jpy still uptrend in daily and to me
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDaily.png Size: 25 KB
Stay Foolish , Stay Hungry
  • #13,495
  • Dec 9, 2015 3:56am Dec 9, 2015 3:56am
Quoting Hickson
{quote} Did you get in Aussie on the daily Resistance on Friday?
Yes got a few there, bit early than .7380 but still going. You got GJ running as well?
Attached Image (click to enlarge)
Click to Enlarge Name: audshort.JPG Size: 110 KB
  • #13,496
  • Dec 9, 2015 4:01am Dec 9, 2015 4:01am
Great position, just long Dragon now, 184.60 since this morning, but it cannot find any legs. Dragon is tired at the end of the year ...



http://pre06.deviantart.net/520c/th/...on-d5lwsj6.png
Fix up, trade sharp ...
  • #13,497
  • Dec 9, 2015 4:05am Dec 9, 2015 4:05am
Quoting Hickson
Great position, just long Dragon now, 184.60 since this morning, but it cannot find any legs. Dragon is tired at the end of the year ... {image}
Lol, Dragon is a dragon though, tomorrow if we see something out of BoE can see some fireworks, but for now, eyeing 185.50 region and then a test of 186/next DP 186.25.
  • #13,498
  • Dec 9, 2015 4:09am Dec 9, 2015 4:09am
Quoting workingforex
{quote} Lol, Dragon is a dragon though, tomorrow if we see something out of BoE can see some fireworks, but for now, eyeing 185.50 region and then a test of 186/next DP 186.25.
Yeah the BOE is going to be interesting, got same techs. Too bad no action when I am at home haha ... tomorrow I will be in the office again. You are trading full time now mate?
Fix up, trade sharp ...
  • #13,499
  • Edited 5:29am Dec 9, 2015 4:23am | Edited 5:29am
Considering a short here, GJ hasn't done anything significant on the long side since yesterday's low. Take care all

Add: Trying a short from 184.8
  • #13,500
  • Dec 9, 2015 5:59am Dec 9, 2015 5:59am
Since Draghi disappointed, market is a little clueless. Near Year End, Japanese firms may repatriate their earnings. Fed decision, this is tricky. I think it's range bound this week before the storm next week.
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