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Dragon Riders GBP/JPY

  • #14,701
  • Feb 26, 2016 7:58am Feb 26, 2016 7:58am
Quoting edmun1388
Longer term long start - - just prediction . If i am correct , next week I join : Trade for a living"
  • #14,702
  • Feb 26, 2016 8:21am Feb 26, 2016 8:21am
Its a bit messy, but its what im hoping will take place. This ABC pattern should not only account for the end of month wick but the beginning of next weeks wick also.

Again, this is just 1 possible scenario im playing out so....

Anyways, fundamentals are still the same. brexit and shitty news for uk and risk off market madness rush to safety in japan.

GJ 15M chart and orange triangle to illustrate the recent lower lows and higher lows after the break from the bullish flag pattern. My theory is that it breaks to the upside and to the 50 fib from the recent swing high. This should account for a decent wick on the monthly chart.

GJ 60M chart is in an ending diagonal. These usually break to the topside. Im guessing the consolidation on the 15M is what builds up the engery and pushes the break. After it hits the 50 fib(A) a slight correction is in order and I think a bounce from the falling trendline in blue (B) will validate the break from the pattern. After that its just fow far (C) will go. Aiming for 166 because its a nice round number.

Red fib levels are from the larger swing move
Blue fib levels are NOT VALID as of yet since the move has not taken place. But they match up perfectly with the scenario.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GJ155.png Size: 200 KB
Click to Enlarge Name: GJ60.png Size: 181 KB
  • #14,703
  • Feb 26, 2016 8:22am Feb 26, 2016 8:22am
Hey Raiders....I saw you posted ....chowda.......in the other thread.....
I figured you were in San Fran........now think you're in Boston for sure.......he
  • #14,704
  • Feb 26, 2016 8:24am Feb 26, 2016 8:24am
Quoting Gbp/jpy
Hey Raiders....I saw you posted ....chowder....in the other thread..... I figured you were in San Fran........now think you're in Boston for sure.......he
hey hey dude
Nope im in Los angeles. That was in reference to wishing i could go to the warf in SF instead of disneyland yesterday.
  • #14,705
  • Feb 26, 2016 8:31am Feb 26, 2016 8:31am
Quoting FX-Ray
Current: G/U: 1.4103 - long TP 1.3907 - current 1.3711 - short TP G/J: 159.75 - long TP 158.23 - current 156.30 - short TP U/J: 114.00 - long TP 112.73 - current 112.06 - short TP
U/J:

114.00 - long TP
112.73 - current
112.06 - short TP

U/J target filled. Nice weekend everyone
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM1.png Size: 31 KB
  • #14,706
  • Feb 26, 2016 8:38am Feb 26, 2016 8:38am
Quoting raiders
{quote} was an invalid area for me when everything was said and done. working now on something though and trying to account for the end of the month candle wick. IF, and thats a big IF, this smaller consolidation i see right now holds till closing i think its what makes the most sense. im gonna try and clean it up and post in a few. Im hoping your numbers match with the points im gonna be searching for. Also, possible temporary double bottom on the GU?? Only time till tell....edit or maybe not
what about the daily?
  • #14,707
  • Feb 26, 2016 9:05am Feb 26, 2016 9:05am
Quoting FX-Ray
{quote} what about the daily?
The daily for Sun/Mon? If so I think that will come from 1 last bounce from the bottom orange line and then the bounce from the 160.4 area. Again, this is all just 1 possibility thats out there. But currently its the one that makes the most sense to me because of the end of month and beginning of week wicks.

If in fact the overall ending diagonal pattern holds and we break to the bottom of the consolidation then 155 seems like a safe target to me before looking deeper into it
  • #14,708
  • Feb 26, 2016 9:22am Feb 26, 2016 9:22am
Quoting gespiri
{quote} Actually, the 15min, 333sma has changed to bullish. Thanks for this.....it is actually a very good trend indicator. I think we are in Wave A going up to 170.43 (possibly) which will ultimately end up in 180.14 or 61.8 Fib. This will take weeks/months to complete.....maybe in time for the Brexit vote in June. {image}
Just saw your post. im in the same train of thought for the most part
  • #14,709
  • Feb 26, 2016 9:36am Feb 26, 2016 9:36am
Hey....you, safi182.......Yep, I see what it's doing right now.......fabulous detective work, old man, I say....
  • #14,710
  • Feb 26, 2016 10:11am Feb 26, 2016 10:11am
That wick on the bottom of the month chart has to grow.....can't they do better than that....
  • #14,711
  • Edited 3:44pm Feb 28, 2016 3:25pm | Edited 3:44pm
So, the price is schmoozingdown, and I'm about unleash the mother of all buys on this thing.....

ok, got 157.44
  • #14,712
  • Feb 28, 2016 3:56pm Feb 28, 2016 3:56pm
Quoting Gbp/jpy
So, the price is schmoozingdown, and I'm about unleash the mother of all buys on this thing..... ok, got 157.44
thats what im thinking too. im kinda nervous because of the timing but i feel like its good for at least 159
  • #14,713
  • Feb 28, 2016 5:31pm Feb 28, 2016 5:31pm
long about 7:30 am in New York.....
will be the time for a major reversal up. they do it at that time when the want all the sessions to have a chance to get in at the same level....
  • #14,714
  • Feb 28, 2016 6:26pm Feb 28, 2016 6:26pm
Any possibility this hits 150 ?
  • #14,715
  • Feb 28, 2016 9:53pm Feb 28, 2016 9:53pm
156.623 support . sad that i not in short trade ..wait another signal
if break .. 156.13 is tp
Exits == most important part of your strategy
  • #14,716
  • Feb 28, 2016 9:55pm Feb 28, 2016 9:55pm
Quoting edmun1388
156.623 support . sad that i not in short trade ..wait another signal
I shorted at 157.54 tp 150.25

Let's see if it's going to happen or just false hope lol

Nikkei looks like it's tanking
  • #14,717
  • Feb 28, 2016 10:28pm Feb 28, 2016 10:28pm
Quoting raiders
Its a bit messy, but its what im hoping will take place. This ABC pattern should not only account for the end of month wick but the beginning of next weeks wick also. Again, this is just 1 possible scenario im playing out so.... Anyways, fundamentals are still the same. brexit and shitty news for uk and risk off market madness rush to safety in japan. GJ 15M chart and orange triangle to illustrate the recent lower lows and higher lows after the break from the bullish flag pattern. My theory is that it breaks to the upside and to the 50 fib from...
so...big waste of time

thinking this is wave 5 now of C....gonna wait for a pullback to maybe 157.2 hopefully and short to 155
  • #14,718
  • Feb 29, 2016 12:43am Feb 29, 2016 12:43am
It broke last Fridays range. That doesn't mean anything? But yeah Raider could be right. But for now it's looking bearish no?
  • #14,719
  • Edited 1:11am Feb 29, 2016 12:53am | Edited 1:11am
Quoting maflip
It broke last Fridays range. That doesn't mean anything? But yeah Raider could be right. But for now it's looking bearish no?
May at least retest the low of the day???
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 40 KB
  • #14,720
  • Feb 29, 2016 4:18am Feb 29, 2016 4:18am
Quoting FX-Ray
Current: G/U: 1.4103 - long TP 1.3907 - current 1.3711 - short TP G/J: 159.75 - long TP 158.23 - current 156.30 - short TP U/J: 114.00 - long TP 112.73 - current 112.06 - short TP
G/J:

159.75 - long TP
158.23 - current
156.30 - short TP

short TP filled.

G/U currently ranging, dont expect strong movement yet.

Add: G/U: short TP 1.3711 more likely than long TP 1.4103 atm
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