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Dragon Riders GBP/JPY

What the hell just happened?
Follow me at andrewfx2020 (dot) com
Never try to stop a freight train with your car. Just wait and ride the trend.
Lost....
What is causing the big Yen increases?
  • #14,484
  • Quote
  • Edited 4:18am Feb 11, 2016 4:06am | Edited 4:18am
We've been expecting this.......huh!!! cool....the bank stocks tanked three weeks ago....159.78
hehe still hold 1 trade +273 pips
Exits == most important part of your strategy
When U/J reaches 110, watch carefully what it will do since it will impact G/J. Also, keep your eyes and ears open for BoJ intervention.
Lost....
I only look at GBPJPY M30 & M1 , if trending , i will use 21 SMMA at M1 as stop loss line . My strategy can apply to other pair also , but lazy to re-program mq4 .
Exits == most important part of your strategy
  • #14,488
  • Quote
  • Edited 9:57am Feb 11, 2016 5:19am | Edited 9:57am
Hmm - I am currently not in the markets and I am so glad as the data is really showing it's hand right now. My shorts got stopped out so did not re-enter.


However I am going a bit neutral on my bias - i am no longer short purely based on where we have hit today. my 1st long term TP and frankly I will be watching the way it reacts here 160 ish level - Still chance for the 2nd and final TP at 156 ish


By neutral - I will keep staying away until I see what the smart money is doing. However I think we are close to a critical decision point
Quoting gespiri
When U/J reaches 110, watch carefully what it will do since it will impact G/J. Also, keep your eyes and ears open for BoJ intervention.
We'll give it a rest and settle down. I don't think this will make a significant impact. The BoJ might have money to stall its appreciation, but the rest of the market has MORE money to direct the fair price of any currency or stock.

Still holding TP at 157.50 or better but also keeping my eye on PA in all TFs.
Lost....
Crazy movements for today.
A moment ago up to 163 then goes down again
Don't trust me. I'm still newbie
Maybe one more climb to 163.63 then range for a while, then hopefully down. The BoJ is getting a little desperate but it will be over soon. I think we might be looking at 106.xx for U/J then up but time will tell.
Lost....
Quoting FX-Ray
{quote} G/J am paying close attention to 164, if you check the daily chart you will see its a major DP last time printed 4th February'14. Got rejected 20th January'16, 15 days ago. Since U/J and G/J correlating atm and lets say U/J will print 110 probably (see recent post) we could see a break of 164. U/J maybe the catalyst here. Now looking at it the other way around, if 164 holds and GBP strenght kicks in we may not see U/J print 110 and may trigger a long before its ever get printed, this trade is based on G/J then, not based on the market structure...
U/J almost there (110), G/J broke 164; G/U followed.

Intraday:

G/U: 1.4530
G/J: 163.75
U/J: 112.70
  • #14,493
  • Quote
  • Edited 8:28am Feb 11, 2016 8:10am | Edited 8:28am
I still wait another GBPJPY short signal.still bias short
Exits == most important part of your strategy
short on the gbpjpy at 161.80.. 30 point stop.. alot of resistance at this area..should be able to fall back to 161.0
Quoting singth
short on the gbpjpy at 161.80.. 30 point stop.. alot of resistance at this area..should be able to fall back to 161.0
162.35 resistance , care. next hard resistance will be 163.706.
I will be vary happy if gj go up till 163.706 , then i will short it to btm again
Exits == most important part of your strategy
Quoting FX-Ray
{quote} U/J almost there (110), G/J broke 164; G/U followed. Intraday: G/U: 1.4530 G/J: 163.75 U/J: 112.70
hi sweetie
Trying to do some longer term charting anyone else seeing 107 and even 105 in UJ?
Quoting AllyB
{quote} hi sweetie
Hi there How's trading?

Quoting raiders
Trying to do some longer term charting anyone else seeing 107 and even 105 in UJ?
Still 110 imho, wouldnt hold on to any short below 110, even prefer to wait there.
Check 31th Oct'14 on the daily. If real demand shows up there profit margin to the upside is real big. 105 would require break of 110-109.

That day was the reaction of U/J to the QE announcement.
Decisions, decisions.....
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Bottom line of this bear flag range is now at 161.95....if it holds, I think it will peak at 164.00 which is the previous low/present resistance in daily and also the 55ema in hourly.

I'm still targeting 157.15-157.50 by next week if it happens. As usual, watching out for spurts of BoJ intervention when U/J dips below 110.0 (target around 106.xx)
Lost....
  • #14,500
  • Quote
  • Edited 10:42pm Feb 11, 2016 10:29pm | Edited 10:42pm
I still look for signal short , but today slightly hard because price now in kumo..
Edit : maybe can get short signal near 163.706.
Exits == most important part of your strategy
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