Attachments: Dragon Riders GBP/JPY

Dragon Riders GBP/JPY

#16,481
Apr 20, 2016 5:43pm Apr 20, 2016 5:43pm

raiders
Joined Feb 2015 | Status: doing ninja shit | 2,077 Posts

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#16,482
Apr 20, 2016 6:28pm Apr 20, 2016 6:28pm

Gbp/jpy
Joined Nov 2007 | Status: CHART HACKER | 2,454 Posts

Ummm....dude.....your chart did just that.........the minute you posted it

gotta be some kinda record......happened when you hit the button....he

#16,483
Apr 20, 2016 6:34pm Apr 20, 2016 6:34pm

raiders
Joined Feb 2015 | Status: doing ninja shit | 2,077 Posts

lol been waiting days for that break. thinking we get a pullback soon then more down. No idea though how far it falls. I feel like UJ isnt ready to drop so cant expect too much here

#16,484
Apr 20, 2016 8:35pm Apr 20, 2016 8:35pm

Mpt
Joined Nov 2009 | Status: Trader | 2,582 Posts

For a better analogy, compare this week thus far with the activity of the week beginning 8 Sept 2014

#16,485
Apr 20, 2016 9:29pm Apr 20, 2016 9:29pm

raiders
Joined Feb 2015 | Status: doing ninja shit | 2,077 Posts

ahhh yes!! I remember that week very well.

But the fundamentals of the gbp, usd and the jpy are all different now. Back the gbp was the big dog on the block with usd anticipating a rate hike in the future. now gbp is in constant turmoil because of the brexit and usd gets talked down every other week. The dxy looks extra weak right now and looks like it can drop to 92ish. Im thinking that will take the UJ down with it.

#16,486
Apr 20, 2016 10:09pm Apr 20, 2016 10:09pm

Mpt
Joined Nov 2009 | Status: Trader | 2,582 Posts

Quoting raiders

Disliked

ahhh yes!! I remember that week very well. But the fundamentals of the gbp, usd and the jpy are all different now. Back the gbp was the big dog on the block with usd anticipating a rate hike in the future. now gbp is in constant turmoil because of the brexit and usd gets talked down every other week. The dxy looks extra weak right now and looks like it can drop to 92ish. Im thinking that will take the UJ down with it.

Ignored

And that's why I said "thus far". Failure to break up here, or a loss of 156, in any case about 155 would take it back to the bottom for probably major new lows. As such that would keep Mr Yen happy.

#16,487
Apr 20, 2016 10:23pm Apr 20, 2016 10:23pm

raiders
Joined Feb 2015 | Status: doing ninja shit | 2,077 Posts

Quoting Mpt

Disliked

{quote} And that's why I said "thus far". Failure to break up here, or a loss of 156, in any case about 155 would take it back to the bottom for probably major new lows. As such that would keep Mr Yen happy.

Ignored

Gotcha

i think this line were up against i think is a big one for this pair. Youre like an encyclopedia with the trendlines lol does it match with what you got?

#16,488
Apr 20, 2016 10:28pm Apr 20, 2016 10:28pm

Mpt
Joined Nov 2009 | Status: Trader | 2,582 Posts

Quoting raiders

Disliked

{quote} Gotcha i think this line were up against i think is a big one for this pair. Youre like an encyclopedia with the trendlines lol does it match with what you got?

Ignored

Reckon this is precisely the place to get up from, or fail. And a casual minor new high/non-sustaining spike would do it. I'll post a diagrammatic representation to explain why in a few minutes.

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#16,489
Apr 20, 2016 10:29pm Apr 20, 2016 10:29pm

raiders
Joined Feb 2015 | Status: doing ninja shit | 2,077 Posts

Quoting Mpt

Disliked

{quote} Reckon this is precisely the place to get up from, or fail. And a casual minor new high/non-sustaining spike would do it. I'll post a diagrammatic representation to explain why in a few minutes.

Ignored

good stuff man

#16,490
Apr 20, 2016 10:43pm Apr 20, 2016 10:43pm

Mpt
Joined Nov 2009 | Status: Trader | 2,582 Posts

edit "casual minor new high/non-sustaining spike would NOT do it

#16,491
Apr 20, 2016 10:58pm Apr 20, 2016 10:58pm

raiders
Joined Feb 2015 | Status: doing ninja shit | 2,077 Posts

Quoting Mpt

Disliked

{quote} Reckon this is precisely the place to get up from, or fail. And a casual minor new high/non-sustaining spike would do it. I'll post a diagrammatic representation to explain why in a few minutes. {image}

Ignored

Wouldnt 164ish be the magic level then because of the pivot? or even 162ish?

#16,492
Apr 21, 2016 12:05am Apr 21, 2016 12:05am

Mpt
Joined Nov 2009 | Status: Trader | 2,582 Posts

Quoting raiders

Disliked

{quote} Wouldnt 164ish be the magic level then because of the pivot? or even 162ish?

Ignored

No idea. On an amusing note, there's a Japanese indicator called the Tenkan Sen on my weekly chart. It very rarely ever touches the actual price (or at least has much effect), but did so back at 175 after the BOJ neg interest rate thing. We all know that didn't go well, but hey!, it's back .... at 157.8. Even the Japanese' own indicators want it to fail!

#16,493
Apr 21, 2016 12:23am Apr 21, 2016 12:23am

Hickson
Joined Jan 2014 | Status: Less is more ... | 9,059 Posts

Quoting Mpt

Disliked

{quote} No idea. On an amusing note, there's a Japanese indicator called the Tenkan Sen on my weekly chart. It very rarely ever touches the actual price (or at least has much effect), but did so back at 175 after the BOJ neg interest rate thing. We all know that didn't go well, but hey!, it's back .... at 157.8. Even the Japanese' own indicators want it to fail!

Ignored

lol ...

Fix up, trade sharp ...

#16,494
Apr 21, 2016 1:31am Apr 21, 2016 1:31am

nimbinsstone
| Joined Mar 2015 | Status: Trader | 299 Posts

162 is the untested resistance currently could well be were the trend resumes

#16,495
Apr 21, 2016 2:20am Apr 21, 2016 2:20am

PeteHFX
| Joined Feb 2010 | Status: Trader | 51 Posts

Quoting nimbinsstone

Disliked

162 is the untested resistance currently could well be were the trend resumes

Ignored

Im thinking the 158.420 support turned resistance

#16,496
Apr 21, 2016 2:22am Apr 21, 2016 2:22am

Hickson
Joined Jan 2014 | Status: Less is more ... | 9,059 Posts

ECB meeting is going to be interesting ... what does Draghi have left? Not much ... this could lead to a rally. COULD!

Fix up, trade sharp ...

#16,497
Apr 21, 2016 2:45am Apr 21, 2016 2:45am

maflip
Joined Mar 2013 | Status: Trader | 6,512 Posts

Damn market is a piece of sh$%#t today.

I hope US session is so much better.

Not moving but it's still respecting the sloping up trend line.

#16,498
Apr 21, 2016 2:46am Apr 21, 2016 2:46am

albchr
Joined Mar 2009 | Status: Trader | 25,480 Posts

Quoting FX-Ray

Disliked

{quote} (1) 110.625 next long target (2) 109.95/90 (recent long target) - DP (3) 109.55/50 recent resistance / current support G/J may follow until 158.85 if (1) = true Anyway, nice trade there https://www.youtube.com/watch?v=hLcBECiISzE

Ignored

Great tunes bud!

After yesterday's run and watching the individual currency charts, Figured London would likely fade the gbp before news then take another stab at new highs if they had enough sellers. Seems the intent is there so far. We'll see.