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Dragon Riders GBP/JPY

  • #15,481
  • Mar 26, 2016 2:18pm Mar 26, 2016 2:18pm
EUR JPY review and projected scenario for upcoming week. same as above just zoomed in.
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  • #15,482
  • Mar 26, 2016 2:35pm Mar 26, 2016 2:35pm
This is what I see in EJ. I would be shorting EJ at the market open before expecting a bounce up and another short opportunity from the green trendline.

All in all the safest move would be to just wait for GJ, EJ and GU to all hit the higher marks before a lovely short. But EJ and GJ both look to be at great places to drop a short to me with a very tight SL in hopes of grabbing a nice scalp to the bottom of the illustrated lines
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  • #15,483
  • Mar 26, 2016 2:40pm Mar 26, 2016 2:40pm
From what I see technically on EURJPY it won't go far beyond 125.80, yes it can drop 45 pips @ market open, but pretty much from that point onwards it's a rally to take on 128+ before getting flushed down the drain pipes. 125.70-90 great area to get in long EJ for a nice swing trade.
  • #15,484
  • Edited 10:12pm Mar 26, 2016 9:35pm | Edited 10:12pm
Quoting asgcorp
EW review also poits to more downside on GJ. corrective wave to be completed within 1-2 trading sessions. {image}
ive been giving it thought all day and i still come back to the same point which is to ultimately just wait for the higher level to short from. but just out of curiosity, im gonna assume this wave count is on the 1H? does your count change on the 4h? when i attempt to count it out on the 4h i cant see how this goes up too much more before first touching down at a lower level.

Also, I was thinking that if the move up was an indeed ABC correction, then we already have equal legs from A? The blue area im going to assume is a sell area or an area to expect a turn in direction?
  • #15,485
  • Mar 27, 2016 1:48am Mar 27, 2016 1:48am
wave count is on H1 blue boxes are fib extensions to project wave completion. However, as always the count can't be 100% right, actually my preffered scenario is
below.

We are in A/B/C correction stage of the downtrend in GBPJPY, C will still push prices higher. This is H4 review. Once wave C completes downtrend will resume on GBPJPY.
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  • #15,486
  • Mar 27, 2016 1:52am Mar 27, 2016 1:52am
Daily fx opinion

Our preference: short positions below 160.00 with targets @ 158.50 & 157.50 in extension.

Alternative scenario: above 160.00 look for further upside with 161.30 & 161.85 as targets.

Comment: as long as 160.00 is resistance, look for choppy price action with a bearish bias.

Supports and resistances:
161.85 **
161.30 *
160.00 ***
159.77 Last
158.50 ***
157.50 *
156.25 *

Copyright 1999 - 2016 TRADING CENTRAL
  • #15,487
  • Mar 27, 2016 2:28am Mar 27, 2016 2:28am
Quoting asgcorp
wave count is on H1 blue boxes are fib extensions to project wave completion. However, as always the count can't be 100% right, actually my preffered scenario is below. We are in A/B/C correction stage of the downtrend in GBPJPY, C will still push prices higher. This is H4 review. Once wave C completes downtrend will resume on GBPJPY. {image}
this scenario is backed up by the GU M30 scenario. abc correciton to send GU to 4300.
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  • #15,488
  • Mar 27, 2016 6:26pm Mar 27, 2016 6:26pm
Quoting asgcorp
wave count is on H1 blue boxes are fib extensions to project wave completion. However, as always the count can't be 100% right, actually my preffered scenario is below. We are in A/B/C correction stage of the downtrend in GBPJPY, C will still push prices higher. This is H4 review. Once wave C completes downtrend will resume on GBPJPY. {image}
you seem to be correct with the analysis

so now i must ask, does your analysis see a drop to say 157ish? before another up move? or just a jump off the cliff?
  • #15,489
  • Edited 7:09pm Mar 27, 2016 6:35pm | Edited 7:09pm
sell huge at that 160.24 there just now....awwwwstopped out at .29....how 'bout that 7:42 trade.....3% a minute ago......added ....66% of the account now...sittin on 10% ...I mean I added just in time.....cool
  • #15,490
  • Mar 27, 2016 8:26pm Mar 27, 2016 8:26pm
I see extreme volatility on the Tokyo open.....dangerous now....after that money hungry bazztirds move to 9 pm N Y time......someone was getting on with it....take Monday off with 23% in three hours, just fading the opening move. that's the rule, take a Monday off after a rompin' Sunday....I love to garden, you know!!!
  • #15,491
  • Mar 27, 2016 9:14pm Mar 27, 2016 9:14pm
maybe we see some resistance around UJ ~113.6

GU is coming down but near support...

trend is bull, I'm on the short side.

edit: nope
  • #15,492
  • Mar 27, 2016 11:01pm Mar 27, 2016 11:01pm
h can see it now hitting the high 160.596 cant go over it>>>>at least i hope
  • #15,493
  • Mar 28, 2016 12:19am Mar 28, 2016 12:19am
Bleh most of you guys are shorts long term but truth is there is a bearish H&S that is struggling to work. If it's to work this pair should have went down a long time ago. As for me, I'm an intraday trader so I don't care where this goes long term I only care about the now. Price is still on the bear side long term but be careful something does not look right. We could be seeing wave 2 down followed by a big wave 3 up.

For today I will closely watch the dips and see if It can retrace enough for a buying opportunity intraday.
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  • #15,494
  • Mar 28, 2016 12:52am Mar 28, 2016 12:52am
in numerical study,it says what make it in real trend up is a clear break of 160.89 or by touching 161.25 ,otherwise no worry about going far down
  • #15,495
  • Mar 28, 2016 1:30am Mar 28, 2016 1:30am
IMHO, Trend-line break favors further up-side of the GBPJPY.
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  • #15,496
  • Mar 28, 2016 2:08am Mar 28, 2016 2:08am
162.80-163.00 looking to short sell TP is 155.60
  • #15,497
  • Mar 28, 2016 3:00am Mar 28, 2016 3:00am
i see it 99.9% going down from here 160.90 and not breaking the big resistance >>>>before they came here they broke down the 15 minutes then up,,,usually when this happen no break for daily>>>>maybe in defferent wave after coming down at least 100 pip
  • #15,498
  • Mar 28, 2016 3:02am Mar 28, 2016 3:02am
ok good luck it's c wave all the wave to 163
  • #15,499
  • Mar 28, 2016 3:09am Mar 28, 2016 3:09am
Quoting asgcorp
ok good luck it's c wave all the wave to 163
glad to read that,numericltt my stop came arond the same number 61.35 ask price
  • #15,500
  • Mar 28, 2016 5:47am Mar 28, 2016 5:47am
Quoting openyoureyes
{quote} yes, the template is easy on the eye here you go: *there is watermark on the bottom, and I don't know how to remove it. {file}
This is a very nice template... here's a cleaned up version for you.
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