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Dragon Riders GBP/JPY

  • #15,801
  • Apr 4, 2016 12:10pm Apr 4, 2016 12:10pm
Im looking for this to short or some sort of consolidation to short out of.

For me, it hasn't yet rejected the break so it didn't give me anything to work with. Also, UJ seems to be almost done with its down move. So i would expect an upward correction from it. Im gonna assume it will take this pair up with it. Lets see if it plays out that way. Either way, id like it to work its way up to reject from either the break, the outer trend line or form some consolidation pattern so I can short from that.
I feel pretty good about the GJ chart. The UJ chart is just possibilities at this point because there hasn't yet been a third touch of the line but its a starting point and a hard rejection so perhaps its gonna work its way to it and try for the 3rd? No idea but EJ seems to be on the same path so who knows?
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  • #15,802
  • Apr 4, 2016 12:44pm Apr 4, 2016 12:44pm
Quoting longshot_nl
{quote} its not even the same pair. you may want to learn about harmonic patterns too.
Oh, my bad... I just assumed while in a GBP/JPY thread we talk about GBP/JPY.
check out my blog: forexmademillionaire dot com
  • #15,803
  • Apr 4, 2016 12:48pm Apr 4, 2016 12:48pm
Retail net long USDJPY hard out. More downside obviously to come. Tripple bottom weak formation won't hold also. The problem I have with UJ here is that BOJ will definately defend 110, so there's not much headroom on downside, then again you never know for certain.
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  • #15,804
  • Apr 4, 2016 12:49pm Apr 4, 2016 12:49pm
april may june july seasonaly weak period for USDJPY. fyi.
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  • #15,805
  • Apr 4, 2016 12:54pm Apr 4, 2016 12:54pm
Trading GBP JPY right now is not a sure thing. UJ is down, yes, but GBP USD is above week pivot with strong H4 candle closes. Next 2-4 H4 candles will decide, either we go down to 4000 or up to 4550+. Do not discount GBP USD today the strongest performer, aside from the yen. Who is going to overpower, pound or yen, no ***** idea guys.
  • #15,806
  • Apr 4, 2016 12:56pm Apr 4, 2016 12:56pm
either way both GU and GJ are sell high buy low, I won't touch both items @ current levels.
  • #15,807
  • Apr 4, 2016 12:59pm Apr 4, 2016 12:59pm
if rice eaters let UJ below 110, there's almost a 1000+ points void below imo as seen here on monthly
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  • #15,808
  • Apr 4, 2016 1:02pm Apr 4, 2016 1:02pm
what do you guys think? strong yen pretty much will kill off japs economy, it's already a piece of art as is.
  • #15,809
  • Apr 4, 2016 1:14pm Apr 4, 2016 1:14pm
Quoting asgcorp
what do you guys think? strong yen pretty much will kill off japs economy, it's already a piece of art as is.
i''m UJ bull long-term with a tgts 126,but yeah overall i''m a Yen bull long-term,Japs are pretty much fu*ked
  • #15,810
  • Apr 4, 2016 1:20pm Apr 4, 2016 1:20pm
Quoting maflip
{quote} Zigzag indicator 60. So on M1 you will see M5 wave on M5 you will see H1 wave.
Thanks buddy, I like it
  • #15,811
  • Apr 4, 2016 1:25pm Apr 4, 2016 1:25pm
Japanese will come with truck load of Yens and dump on us. don't underestimate them, Be careful with G/Y shorts here
  • #15,812
  • Apr 4, 2016 1:33pm Apr 4, 2016 1:33pm
Quoting charron
Japanese will come with truck load of Yens and dump on us. don't underestimate them, Be careful with G/Y shorts here
+++ my thinking also. BOJ will defend 110 level.
  • #15,813
  • Apr 4, 2016 1:37pm Apr 4, 2016 1:37pm
Quoting asgcorp
what do you guys think? strong yen pretty much will kill off japs economy, it's already a piece of art as is.
I'm not worried I only trade short term intraday moves. 😂
  • #15,814
  • Apr 4, 2016 1:39pm Apr 4, 2016 1:39pm
Quoting asgcorp
{quote} +++ my thinking also. BOJ will defend 110 level.
I heard of that before just like the SNB? Careful of that thinking just trade what you see bro.
  • #15,815
  • Apr 4, 2016 1:50pm Apr 4, 2016 1:50pm
yeah ok but check this fyi. I'm trading fx for 10 + years I've seen multiple BOJ interventions already.

BOJ intervention is a real deal

Bank Of Japan Intervention Sends USDJPY Soaring
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  • #15,816
  • Apr 4, 2016 1:51pm Apr 4, 2016 1:51pm
it don't matter which timeframe yous are trading ))) BOJ won't call yous up before intervention.
  • #15,817
  • Apr 4, 2016 1:53pm Apr 4, 2016 1:53pm
trade accordingly. my take is that BOJ intervention is imminent right now 110-110.80
  • #15,818
  • Apr 4, 2016 2:42pm Apr 4, 2016 2:42pm
well this should be interesting...15 min chart maybe it's roll over time...maybe not.
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  • #15,819
  • Apr 4, 2016 3:03pm Apr 4, 2016 3:03pm
Quoting asgcorp
trade accordingly. my take is that BOJ intervention is imminent right now 110-110.80
This is worrying , asgcorp on your last BoJ intervention was there any warning at all , news release prior,we are going against a bank here, glad I got out my gy short position Friday.
  • #15,820
  • Apr 4, 2016 3:12pm Apr 4, 2016 3:12pm
Quoting Pip-Miner
{quote} This is worrying , asgcorp on your last BoJ intervention was there any warning at all , news release prior,we are going against a bank here, glad I got out my gy short position Friday.
youre not gonna get anything. just a spike and some mumbo jumbo press release maybe. just try to get a decent sl move to be or slight profit early on your shorts
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