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Dragon Riders GBP/JPY

  • #16,281
  • Apr 12, 2016 3:08am Apr 12, 2016 3:08am
Quoting alexpi
{quote} Just take care, don't prime yourself too much mate, you should know what that sets up for
absolutely i do

Side note...all yen pairs have broken trend now. Also look at the rocket ship EJ just waiting on UJ now. Really hope kuroda doesn't decide to talk about his dry cleaning this can get interesting real quick
  • #16,282
  • Apr 12, 2016 3:35am Apr 12, 2016 3:35am
When they broke that bearish H&S pattern yesterday is a BIG clue that the trend changed temporarily. Maybe just a correction of a bigger down move but the trend changed.
  • #16,283
  • Apr 12, 2016 3:38am Apr 12, 2016 3:38am
But so far currently testing the support turned resistance now on the weekly. But I'm not going bearish yet.
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  • #16,284
  • Edited 3:54am Apr 12, 2016 3:43am | Edited 3:54am
and there is the test of the low on 2/24. so far all positive signs for me as far as correction looking to finish up soon. still waiting on UJ to do its part that might take a while though. perhaps its what buys the dragon time for it to work its way across to the falling trend line anyways I'm off. good luck everyone

edit...hahaha and then it eats that low like ramen
Maybe??
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  • #16,285
  • Apr 12, 2016 5:05am Apr 12, 2016 5:05am
Quoting Unique-SA
Hellow, my view in a short term is buying from this point 152.250 for 300 points 155.000 area and consider 151.500 in sight in the down side
The lowest price on the day i post this was 151.660 and just today we got to 155.000 area. GL
It is not a shame to fall .. but shame that we cannot rise
  • #16,286
  • Apr 12, 2016 5:18am Apr 12, 2016 5:18am
Quoting Unique-SA
{quote} The lowest price on the day i post this was 151.660 and just today we got to 155.000 area. GL
Don't you think it's risky to say anything that's not being repeated in every post?
  • #16,287
  • Apr 12, 2016 5:55am Apr 12, 2016 5:55am
Quoting Unique-SA
{quote} The lowest price on the day i post this was 151.660 and just today we got to 155.000 area. GL
I reckon you're right. This should be the end of the retrace for now. Then again, CPI data earlier has boosted GBP. Anyway, looks like markets may be turning to risk off again as we speak.
  • #16,288
  • Apr 12, 2016 6:17am Apr 12, 2016 6:17am
Quoting alexpi
{quote} Sounds like a good plan! An alternative is a break upward at the rising upper line followed by a strong rejection (preferably same candle that breaks it cus that would open a TP below 153, second best is another strong up candle that rejects into the OC range of a previous candle). With the downtrend backup this trade would be nice as it sets up a short with clear SL and TP (~153). Points I'll be looking for rejects at are 154.6/7, 155.3/4, 156.1/2, 157.8/158.0. In the meantime I'm taking longs and hedging at each DP in case a reject happens....
Triggered a short after rejection ~155.3/4. Time to see if it's a fake rejection of the fake breakout or if price will go down to 153

Add: Not holding this through the night (GMT) either way
  • #16,289
  • Apr 12, 2016 7:15am Apr 12, 2016 7:15am
CLOWNS WORKS.
  • #16,290
  • Apr 12, 2016 8:27am Apr 12, 2016 8:27am
Please, start another thread. I Need your chartl, lol.
  • #16,291
  • Apr 12, 2016 10:08am Apr 12, 2016 10:08am
you guys think that was the top? 1 more push to 155ish to confirm the rejection maybe?
  • #16,292
  • Apr 12, 2016 10:13am Apr 12, 2016 10:13am
We'll see, I'm just gonna hold that sell until it's stopped out.
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  • #16,293
  • Apr 12, 2016 10:14am Apr 12, 2016 10:14am
Quoting raiders
you guys think that was the top? 1 more push to 155ish to confirm the rejection maybe?
Hard to say I don't like calling tops. But look where it bounced up from. I'm done for today, but tomorrow I will look for a break below that line. For now let the party continue.
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  • #16,294
  • Apr 12, 2016 10:40am Apr 12, 2016 10:40am
Quoting maflip
{quote} Hard to say I don't like calling tops. But look where it bounced up from. I'm done for today, but tomorrow I will look for a break below that line. For now let the party continue. {image}
yup that looks like the safest move to me too right now. prob not till tomorrow. still holding hope for a reject from that line since i can keep the sl extra tight but the clean break would make me just as happy
  • #16,295
  • Apr 12, 2016 10:46am Apr 12, 2016 10:46am
Quoting raiders
{quote} yup that looks like the safest move to me too right now. prob not till tomorrow. still holding hope for a reject from that line since i can keep the sl extra tight but the clean break would make me just as happy
I made a little bit on the down move though +30 pips from that but took profit as it neared that second trend line. But I missed a bigger move when I did not notice the head and shoulders up there then it broke downwards. It would have been another quick 40 pips. This dragon is so nice making good money on small moves like that. It's like I'm scalping the M5
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  • #16,296
  • Apr 12, 2016 11:22am Apr 12, 2016 11:22am
Quoting maflip
{quote} I made a little bit on the down move though +30 pips from that but took profit as it neared that second trend line. But I missed a bigger move when I did not notice the head and shoulders up there then it broke downwards. It would have been another quick 40 pips. This dragon is so nice making good money on small moves like that. It's like I'm scalping the M5 {image}
30 pips aint bad. Thats a SL right there making the next trade free
who knows what happens but a nice pennant or something like that would be great to trade out of going into tomorrows london.
  • #16,297
  • Apr 12, 2016 11:34am Apr 12, 2016 11:34am
My guestimate we are on wave 4 maybe going into wave 5? Then another correction? Gonna be watching those areas tomorrow if it does gets there.
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  • #16,298
  • Apr 12, 2016 11:57am Apr 12, 2016 11:57am
Yes i am targeting the end of the arrow. Reverse hs.
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  • #16,299
  • Apr 12, 2016 12:02pm Apr 12, 2016 12:02pm
Quoting Patternz
Yes i am targeting the end of the arrow. Reverse hs. {image}
hey we got the same chart

Good eyes I actually did not saw that reverse H&S
  • #16,300
  • Apr 12, 2016 12:03pm Apr 12, 2016 12:03pm
If there is a free chat room somewhere to share the patterns we see in the chart would be great. Sometimes I miss things too. Like that H&S at the top there I missed that.

Time for some sleep. Laterz
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