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Dragon Riders GBP/JPY

  • #15,421
  • Mar 23, 2016 10:15pm Mar 23, 2016 10:15pm
S&P broke its rising channel ...now lets see if the market agrees
  • #15,422
  • Mar 24, 2016 12:32am Mar 24, 2016 12:32am
short at 159.07. tp158.40 area. 50pips easily...

good luck.
  • #15,423
  • Mar 24, 2016 8:05am Mar 24, 2016 8:05am
According to me buy @ 158.90 SL. 159.40 TP - 161.10

Just Be Patient
  • #15,424
  • Mar 24, 2016 10:46am Mar 24, 2016 10:46am
That might have been the temp bottom before 167.7ish
  • #15,425
  • Mar 24, 2016 10:52am Mar 24, 2016 10:52am
Quoting raiders
That might have been the temp bottom before 167.7ish
too soon to say that
watch how the price react @ 159.92
Investing is SIMPLE but NOT EASY
  • #15,426
  • Mar 24, 2016 10:53am Mar 24, 2016 10:53am
Quoting raiders
That might have been the temp bottom before 167.7ish
167.7'ish? Based on what? Chart, timeframe, pa etc...
  • #15,427
  • Mar 24, 2016 10:54am Mar 24, 2016 10:54am
Quoting Moly_Cam5
{quote} too soon to say that watch how the price react @ 159.92
im watching 160.016 if that goes i think the down trend is over for a bit
  • #15,428
  • Mar 24, 2016 10:59am Mar 24, 2016 10:59am
C'mon guys, is anybody going to post a f*cking chart?
  • #15,429
  • Mar 24, 2016 11:01am Mar 24, 2016 11:01am
Quoting simond2002
{quote} 167.7'ish? Based on what? Chart, timeframe, pa etc...
wave counts...the fact that we got a slightly higher low plus we got a 5-3-5 wave structure would indicate a correction as opposed to an impulse wave. so if you count from the low on 2/24 we got 5 waves up followed by possibly 3 waves down and if this is accurate then we need 5 waves up to complete the correction. equal legs of the 5 up from 2/24 and the low of 2/22 would give us 167.7ish which also happens to be the .382 fib from the high on 11/18. this .382 is a level i was expecting as the correction for awhile now but wasnt sure it would work its way back up.

doesnt mean its going to now...but if the wave counts are accurate then the level of 167.7ish is very much in the cards
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  • #15,430
  • Edited 11:18am Mar 24, 2016 11:02am | Edited 11:18am
Quoting simond2002
C'mon guys, is anybody going to post a f*cking chart?
give me a bit...my chart is a mess right now as ive been going over this for a few hours now. gotta cleanup what im seeing

if you read back a page or two was looking for the 157 level to see if we would get a bounce because it would be equal legs from the high on 3/11 but maube it came early? wont know anything until we see if we pass 160.016....but its what im looking for to see if we did indeed get a temp bottom
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  • #15,431
  • Mar 24, 2016 11:10am Mar 24, 2016 11:10am
at least 158.006 should be reached
to call it a bottom
watch these levels :]
Investing is SIMPLE but NOT EASY
  • #15,432
  • Mar 24, 2016 11:21am Mar 24, 2016 11:21am
Quoting raiders
{quote} wave counts...the fact that we got a slightly higher low plus we got a 5-3-5 wave structure would indicate a correction as opposed to an impulse wave. so if you count from the low on 2/24 we got 5 waves up followed by possibly 3 waves down and if this is accurate then we need 5 waves up to complete the correction. equal legs of the 5 up from 2/24 and the low of 2/22 would give us 167.7ish which also happens to be the .382 fib from the high on 11/18. this .382 is a level i was expecting as the correction for awhile now but wasnt sure it would...
Thanks.

Another take on it...

On intraday, the reason I've not been interested in shorting is down that bullish W on H4. Intras can short into that if they want - good luck to them.

The M30 bottom, which obviously formed around the retested H4 bullish W, seems to have held. If price continues and ultimately breaks out this wedge then for me the upper targets (not marked to keep the chart clear) are 165'ish and 169'ish. To be honest, I would already like to have been long in this pair but I'm not so will just keep an eye on how things develop.

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  • #15,433
  • Mar 24, 2016 12:05pm Mar 24, 2016 12:05pm
Quoting simond2002
{quote} Thanks. Another take on it... On intraday, the reason I've not been interested in shorting is down that bullish W on H4. Intras can short into that if they want - good luck to them. The M30 bottom, which obviously formed around the retested H4 bullish W, seems to have held. If price continues and ultimately breaks out this wedge then for me the upper targets (not marked to keep the chart clear) are 165'ish and 169'ish. To be honest, I would already like to have been long in this pair but I'm not so will just keep an eye on how things develop....
well...im not long yet either. i still feel like 157 should have been touched at the very least get close to it so im sitting on my hands
  • #15,434
  • Mar 24, 2016 1:11pm Mar 24, 2016 1:11pm
I am with you Simond2002 and raiders. This is my take. Patience is the hardest part... The spirit is willing but I need to be careful to take only the best setups I identify. Also, quelling doubt is difficult especially on the tough days.
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  • #15,435
  • Mar 24, 2016 1:54pm Mar 24, 2016 1:54pm
Quoting Pip-Miner
Looks like some shorting opportunities at 159.50 - 160 today
Well, accurate enough strategy unchanged and no surprises , still holding all my shorts.
  • #15,436
  • Mar 24, 2016 3:48pm Mar 24, 2016 3:48pm
Quoting Pip-Miner
{quote} Well, accurate enough strategy unchanged and no surprises , still holding all my shorts.
yea man if that 160 level doesnt go then its still has a bearish bias....i didnt care for up move though so im sitting out of this pair
  • #15,437
  • Mar 24, 2016 4:29pm Mar 24, 2016 4:29pm
Quoting Pip-Miner
{quote} Well, accurate enough strategy unchanged and no surprises , still holding all my shorts.
Likewise. Still holding shorts also.
  • #15,438
  • Mar 24, 2016 5:01pm Mar 24, 2016 5:01pm
level 159.92 so tough to let price pass
waiting for 158.006 to think in long
Investing is SIMPLE but NOT EASY
  • #15,439
  • Mar 24, 2016 5:12pm Mar 24, 2016 5:12pm
Be carefull with longs. All I see in 4h and daily chart is verified head&shoulders pattern in direction of main trend. Invalidation comes only IF price breaches right shoulder.
  • #15,440
  • Mar 24, 2016 5:47pm Mar 24, 2016 5:47pm
Started buying. Entry is M5/M30 therefore risk is set at those levels. Current bias, however, is based upon D1/H4/M30 as mentioned in previous posts.

Re the H/S, this particular occurrence is a long way down the curve and out of context for me.

Risk is set - loss already accepted; happy for charts to prove right or wrong.

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