Dragon Riders GBP/JPY

Quoting ash0

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broke previous support fib retracement 38.2 on support, could be resistance. {image}

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Quoting AussieForexM

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Good evening / morning everyone. I hope you all survived the carnage.

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Quoting Feo

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So yesterday US bounced up of the weekly S3 at 6124 This 6 hr bar and the next one macd is in an up sequence. The next two 90 min bars macd are also in an up sequence. The 4hr macd looks like it is about to cross zero upwards So I am placing a buy on GBPJPY at 162.71. end of this 30min bar, target the weekly S2 at 165.10 {image}

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Quoting ForexAuthor

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{quote} I cant say that for sure... still stuck in my longggg... care to share some insight on future price?

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Quoting AussieForexM

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{quote} Ohh boy, I wish I knew the answer... I was long (like you) at 164.70 (ish) with 5 longs before the almighty crash earlier this week. Since then, I've been trading GBP/JPY as the price moved up from the bottom. At the end of the day, I still made a profit this week but lost a shit load of pips (see my profile). This is not my usual trading style, and I should have never gone long with so many positions. However, I survived and I've learnt another important lesson. Don't be fucking greedy.

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Quoting FX-Ray

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{quote} Hi there How's trading? {quote} 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.

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Quoting AllyB

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{quote} trading has been unpredictable lately. I manage to pick up a few here and there though. too many rumors to hold a trade long ... for my liking anyway. and how about you? what's keeping you so busy here lately? life I know but I want details {image}

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Quoting FX-Ray

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{quote} short side seems most of the time unpredictable, im focused on shorts (U/J until 110), GJ 164 broken may see a retest of the lows (double bottom?). Id be careful with long, wait until down move exhaustion below the lows, odds are in your favour then. Currently am working on a project, I call it 'Fusion' and is about multi-profiling 3 or more currencies to allocated high probability trades. What are you doing lately? Add: Probable sell-off U/J below 112.55; G/J below 162.85; G/U may continue above 1.447

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Quoting raiders

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{quote} I like it!! Good luck with it. i have the feeling the 3 youre working on might just be the 3 posted above. Anyways, ive been watching stocks like crazy lately in hopes of trying to catch the next leg down in jpy pairs. My theory is were in the beginning stages of serious correction in those markets and the jpy being everyones favorite funding source thats where the movements will be the strongest. Until they arent. Then since the usd stills seems the most likely to raise rates again(at some point) ill jump over to that as my currency...

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Quoting FX-Ray

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{quote} Interesting thought, would like to hear more about it while you progess Add: Yes its G/U, G/J and U/J, another ring is E/U; E/J and U/J

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