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Dragon Riders GBP/JPY

  • #15,721
  • Apr 3, 2016 6:17am Apr 3, 2016 6:17am
Quoting asgcorp
yeah this is also possible bro, that's why intraday we have to be careful if we take a long trade in GJ against the trend now. But still I prefer GJ push higher then gets flushed. Reason is that GBP USD needs a pullback before doing 4000 level.
I wont take the intra day long , too risky for my liking. I will take shorts only until those levels mentioned are reached. I get the same as you gu going to 1.40 level before a move up. Ignore the upward movement estimates little too bullish for a bearish pattern.
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  • #15,722
  • Apr 3, 2016 6:18am Apr 3, 2016 6:18am
having said that I'm 90% confident that EUR JPY will pullback from lows, therefore high probability GJ will do same also.
  • #15,723
  • Apr 3, 2016 6:19am Apr 3, 2016 6:19am
yeah yeah same deal here, I'm not going to go long GBPJPY, only short if it pulls back from lows, I will go long EJ though, it's a nice setup.
  • #15,724
  • Apr 3, 2016 6:26am Apr 3, 2016 6:26am
Quoting asgcorp
having said that I'm 90% confident that EUR JPY will pullback from lows, therefore high probability GJ will do same also.
yes I agree , EURJPY has more upward movement to around 128.5 , not sure of the correlation ratio to dragon currently, but I understand your logic.
  • #15,725
  • Apr 3, 2016 6:29am Apr 3, 2016 6:29am
Quoting Pip-Miner
{quote} yes I agree , EURJPY has more upward movement to around 128.5 , not sure of the correlation ratio to dragon currently, but I understand your logic.
GBP USD correlated to EUR JPY nicely on H4, since EJ very likely goes up, GU also up, GJ good chance we pullback from lows, GJ lately gets better follow through on GU moves, sometimes UJ will drop 150-200 pips but GJ stays flat, interesting deal here.
  • #15,726
  • Apr 3, 2016 8:30am Apr 3, 2016 8:30am
Quoting edmun1388
Bullish divergence at NOT oversold area now == trend down continuation
I already told , but still many of you go long , gg.
Exits == most important part of your strategy
  • #15,727
  • Apr 3, 2016 9:29am Apr 3, 2016 9:29am
Quoting asgcorp
{quote} GBP USD correlated to EUR JPY nicely on H4, since EJ very likely goes up, GU also up, GJ good chance we pullback from lows, GJ lately gets better follow through on GU moves, sometimes UJ will drop 150-200 pips but GJ stays flat, interesting deal here.
Maybe its because GU goes up more then UJ goes down ?
The Trend Is Your Friend
  • #15,728
  • Apr 3, 2016 9:49am Apr 3, 2016 9:49am
Quoting Soyo24
{quote} Maybe its because GU goes up more then UJ goes down ?
definately possible, recently more volatility in GU then UJ for sure!
  • #15,729
  • Apr 3, 2016 1:04pm Apr 3, 2016 1:04pm
Quoting Pip-Miner
{quote} getting usdjpy going down first 110 area so that might affect the upward movement first ,dragon may head south straight away after a minor up movement. {image}
I am preparing my harmonics for the week.

Lots of possible harmonics for USDJPY

red butterfly
blue bat
purple cypher
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  • #15,730
  • Apr 3, 2016 1:17pm Apr 3, 2016 1:17pm
cool. here's one more (speculative).
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  • #15,731
  • Apr 3, 2016 1:19pm Apr 3, 2016 1:19pm
Quoting Pip-Miner
{quote} expecting initial move up early in the week towards 161 then choppy downward trend continuation towards 155. {image}
That's what I'm looking for also
  • #15,732
  • Apr 3, 2016 5:14pm Apr 3, 2016 5:14pm
position traders get ready to go long EURJPY next 4-6 hours. Good entry point @ 126.80-90 provided that support area holds. SL 50. TP 127.80
  • #15,733
  • Apr 3, 2016 5:16pm Apr 3, 2016 5:16pm
GBP JPY bigger risk trade LONG 158.40 SL 60 TP 161.60. Be careful though.
  • #15,734
  • Apr 3, 2016 5:16pm Apr 3, 2016 5:16pm
Quoting asgcorp
cool. here's one more (speculative). {image}
UJ is reversing pretty much as expected
  • #15,735
  • Apr 3, 2016 5:17pm Apr 3, 2016 5:17pm
projected price action on USDJPY, though first upside target probably could reach 113
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  • #15,736
  • Apr 3, 2016 5:25pm Apr 3, 2016 5:25pm
bought x4 std lots USDJPY SL 25 TP 113
  • #15,737
  • Apr 3, 2016 5:30pm Apr 3, 2016 5:30pm
Quoting asgcorp
bought x4 std lots USDJPY SL 25 TP 113
added some more. 8 std lots long now tp 113.
  • #15,738
  • Apr 3, 2016 5:34pm Apr 3, 2016 5:34pm
don't go long EJ / GJ yet. London open will drag GU / EU lower for sure.
  • #15,739
  • Apr 3, 2016 5:56pm Apr 3, 2016 5:56pm
Quoting asgcorp
don't go long EJ / GJ yet. London open will drag GU / EU lower for sure.
sure?
  • #15,740
  • Apr 3, 2016 5:58pm Apr 3, 2016 5:58pm
yeah london open GU and EU down. I see why you are asking.
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