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Dragon Riders GBP/JPY

  • #14,381
  • Feb 5, 2016 4:58am Feb 5, 2016 4:58am
Quoting Feo
Placing another buy order at 171.86
Hope you didn't lose your shirt to bad bud.
  • #14,382
  • Feb 5, 2016 5:35am Feb 5, 2016 5:35am
Quoting Mpt
http://www.forexfactory.com/tryfoss Hey kiddies, don't do this at home
  • #14,383
  • Feb 5, 2016 6:08am Feb 5, 2016 6:08am
Quoting raiders
{quote}
Maybe he was using daddy's oil money? It says Iranian.
  • #14,384
  • Feb 5, 2016 8:10am Feb 5, 2016 8:10am
Quoting Mpt
http://www.forexfactory.com/tryfoss Hey kiddies, don't do this at home
Or with real money.
  • #14,385
  • Feb 5, 2016 8:18am Feb 5, 2016 8:18am
Quoting 4xNewGuy
{quote} Or with real money.
Oil money is real money though?
  • #14,386
  • Edited 1:10pm Feb 5, 2016 10:44am | Edited 1:10pm
now that it's after 11:30 in NewYork.....the banks can drop it more without damage to the day's set-up

I just saw 168 something....cool....gespiri and I think it may be wave 5 down to way down there....technical terms, huh!!!

In extension...the term would be way, wayyyy down there....
  • #14,387
  • Feb 6, 2016 1:36am Feb 6, 2016 1:36am
Quoting PaulDaemon
Hi Guys, Im looking for a bit of advice on this pair as I dont normally trade it. I have heard a couple of analysts talking on bloomberg about this pair is prime for a good long with the recent news coming out of Japan. So was thinking it could be possible but when to enter and where to exit? Thanks.
Hey there...did ya catch either of those two reverses?......110 pips almost
  • #14,388
  • Feb 6, 2016 4:07am Feb 6, 2016 4:07am
Quoting Gbp/jpy
{quote} Hey there...did ya catch either of those two reverses?......110 pips almost
Thanks for the advice. I didnt trade it but made around 50pips on aud/usd and 50pips on nzd/usd.

Do these reversals happen usually at the same time?
20 Pips a day keeps centerlink away
  • #14,389
  • Feb 6, 2016 11:11am Feb 6, 2016 11:11am
yessirr....I trade every 30 minute mark of the London open....reversing at 3-5 minutes away from the exact mark....either before or after meaning 1:26.....then 2:03......2:27.....2:58.....then the biggy at 3:28 or 3:30 with a 6 pip stop loss......the 3:30 confirms it's self at 3:52.....by showing slow-down when moving well, say 22 pips.....or if not moving.....by not going negative....

It's London hitting the trades hard.....London moves the market the most....sometimes they have to let their buddy.....New York get in on the action.....that at 6:30 am........note

all these times are Chicago time.....
  • #14,390
  • Feb 6, 2016 11:15am Feb 6, 2016 11:15am
Hey....did you guys know the major banks stock value is driving this pair down.......the bank stocks are tanked....not tanking.....already below any prior crisis ...
  • #14,391
  • Feb 7, 2016 8:15am Feb 7, 2016 8:15am
I think the dragon will poke just under the low of the candle in question (circled red) before bouncing back hard....30minute TF
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  • #14,392
  • Feb 7, 2016 12:09pm Feb 7, 2016 12:09pm
Hey fellow dragon riders! I've got some pretty in-depth analysis on GBP/JPY for this week. Take a look here if interested:

http://www.forexmademillionaire.com/...look-2-7-2016/
check out my blog: forexmademillionaire dot com
  • #14,393
  • Feb 7, 2016 3:21pm Feb 7, 2016 3:21pm
Quoting Gbp/jpy
now that it's after 11:30 in NewYork.....the banks can drop it more without damage to the day's set-up I just saw 168 something....cool....gespiri and I think it may be wave 5 down to way down there....technical terms, huh!!! In extension...the term would be way, wayyyy down there....
We are in the trickiest wave 5 which started on Feb 2 (which started at the 38.2% level of wave 3 (173.45) but hit Ray's ol' level of 174.10. Tricky, since wave 5 might 1) follow the same length as wave 1 which is 1579 pips, 2) 38.2, 50, or 61.8 of wave 1, or, 3) double bottom at 164 which is also a probability.

Whatever it is, watch the PA on the hourly and 4-hour since this wave is known to have less participants but more volatility, meaning that there will be less sellers that might try to push this lower with rising RSI and CCI on the daily and weekly. My take will be somewhere between 156.5 - 164 which is a big range, so I'll be very vigilant how prices will react once it drops past 164. Interestingly, Ray has an old level of 167.60 which is also worth observing.

Whatever it is, we're looking at a 5-6 week TF on this move down.
Lost....
  • #14,394
  • Feb 7, 2016 3:28pm Feb 7, 2016 3:28pm
Quoting Geppy
Hey fellow dragon riders! I've got some pretty in-depth analysis on GBP/JPY for this week. Take a look here if interested: http://www.forexmademillionaire.com/...look-2-7-2016/
Thanks, Geppy. Very valuable analysis from one of the few traders who really know what to look for.

I agree, that this is worth sitting on the sidelines and watching. However, I am still looking south over the next weeks with lower highs and lower lows if I'm not mistaken. We'll see what happens.
Lost....
  • #14,395
  • Feb 7, 2016 3:35pm Feb 7, 2016 3:35pm
From here, prices could just jerk for a while, re-testing 173.45 until it decides to complete wave 5 which is still unknown. I'd be very careful how it will behave this week.
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Lost....
  • #14,396
  • Feb 7, 2016 8:54pm Feb 7, 2016 8:54pm
yes, we have till Tuesday before we get chance after turn-around Tuesday.

What if we go straight to 130.00...in a collapse....China and Russia are up to something the media won't report....China buying in to the western markets to be one of the group....the giant country club of all the separate nations....supporting each other.......China might buy the Chicago Exchange....to let them in the door....the western door

but a collapse may hit....the cycles point to more panic in 2016 than 2008
  • #14,397
  • Feb 7, 2016 10:17pm Feb 7, 2016 10:17pm
171.20 is the true trend......marker
  • #14,398
  • Feb 8, 2016 12:53am Feb 8, 2016 12:53am
Quoting Gbp/jpy
171.20 is the true trend......marker
I don't know about 130......maybe by next year.

If or when wave 5 ends, corrective wave A ends.
Lost....
  • #14,399
  • Feb 8, 2016 4:37am Feb 8, 2016 4:37am
Quoting Gbp/jpy
yes, we have till Tuesday before we get chance after turn-around Tuesday. What if we go straight to 130.00...in a collapse....China and Russia are up to something the media won't report....China buying in to the western markets to be one of the group....the giant country club of all the separate nations....supporting each other.......China might buy the Chicago Exchange....to let them in the door....the western door but a collapse may hit....the cycles point to more panic in 2016 than 2008
It's true that 2016 is a breaking point for western markets which will impact everything and everyone due to years of cheap money going around the system. Banks all over are talking about negative interest rates....most of the trusting (or ignorant) pubic don't know that it's the account holders who will pay, not the banks.

Talk about cows coming home.....we may see them coming home this spring.
Lost....
  • #14,400
  • Edited 9:10am Feb 8, 2016 8:59am | Edited 9:10am
USD/JPY:

if JPY strenght continues @ 116.00 - mid-term target is 110.00
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