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Dragon Riders GBP/JPY

  • #17,061
  • May 5, 2016 10:58pm May 5, 2016 10:58pm
Quoting Mpt
{quote} Now this is just getting stupid. Gj threads tend to be a bit above the average in terms of commentary and analysis, but this just scrapes the lows.
ok , i will less post.
Exits == most important part of your strategy
  • #17,062
  • May 5, 2016 11:15pm May 5, 2016 11:15pm
Im still having my buy position -50 Pips so far, tp is 159~160
  • #17,063
  • Edited 11:51pm May 5, 2016 11:28pm | Edited 11:51pm
should we be going for small moves...in a fast moving market!!!......remember the 15M set ups.....34,3,3 slo sto and 333 ma......then the timing trades when London or NY give us an outside move early in their session......the market morphed back in October last year.....really before the vacation period.....june till October last year...
none of this is normal PA....it's not currency wars....so the dixxy took a little drop.....even the large one way moves funky.....
the crunch this time is credit cards......the banks are taking us to a credit card society.....nightmare come true, huh!!!

those outside moves.....on the 30 minute marks gentilemen and lovely ladies.....put up a 5M chart at 230 am NY and 330.....my favorite for the giant bank moves is 430 am NY....

15M with that 333 sma.......is the true trend of the hour, the dealer chart....4H.......is the only one allowed to trump it.....more later, huh!!! about the three pushes to take and the two bumps on the slo sto...no the second bump ......I'm telling it right.....

An outside move on the chart is the PA entering new territory in the last few periods ...reverse that
  • #17,064
  • Edited 12:37am May 6, 2016 12:14am | Edited 12:37am
This reminds me of the same shitty price action we had on 4/8. I want to go long in the worst way but theres no way im dropping the necessary sl out there that would be necessary to survive the drunken chop
  • #17,065
  • May 6, 2016 4:39am May 6, 2016 4:39am
The beast from Australia, gbpaud what an awesome display of rocket power today 300 p launch man still. Rising now
  • #17,066
  • May 6, 2016 5:15am May 6, 2016 5:15am
Quoting raiders
{quote} Hey hey.....EU looking like the top was very likely made. Im trying to count it out right now cause this could be huge. Might just be the easiest trade on the block for the next 6 months. Anyways, on the DXY I think ive got i of (1) on the 1h. Dont see it getting too much higher before a pullback to the 93.2 area for ii. On the EU ive got iii of (1) i think also on the 1h. I think it can reach 1.125 maybe to complete (1) so maybe a pullback to 1.144-1.146 for iv maybe??
Yeah bro it declined way passed 50%. NFP coming out soon. Right now looks like it just completed a C wave. But again NFP is coming out.
  • #17,067
  • May 6, 2016 6:37am May 6, 2016 6:37am
Quoting Pip-Miner
The beast from Australia, gbpaud what an awesome display of rocket power today 300 p launch man still. Rising now
that pair doesnt play games right? 97 was my target
  • #17,068
  • May 6, 2016 7:48am May 6, 2016 7:48am
its a bad day for long positions, good thing i kept my shorts running, now yen soaring and pound dieing
  • #17,069
  • May 6, 2016 7:52am May 6, 2016 7:52am
152.11 or 151.63....
row row row your boat
  • #17,070
  • May 6, 2016 8:00am May 6, 2016 8:00am
gbp/jpy broke through the hard support made some good pips
  • #17,071
  • May 6, 2016 8:02am May 6, 2016 8:02am
back to the game.after wipe some SL for long.
  • #17,072
  • May 6, 2016 8:17am May 6, 2016 8:17am
If they will do what I think they will do will be a more down for gj and ej, if ej reach 122,2 area and gj reach 154,5-154,6
I need the magic ball
  • #17,073
  • May 6, 2016 9:49am May 6, 2016 9:49am
Some folks here would be aware as to how I identify supports and resistances in a 'graphic' format.

As a small matter of interest, this place here if the precise spot where, not only would the moves from 174 - 196 (starting 2013) end, but, of even more significance it's where the entire correction first entered at 194 in the great fall of Sept 1992 would end as well. That's a mere 285 months.

Should it really break down, that simple fact would point towards Sterling Yen going to a place that no Sterling Yen has gone before.
  • #17,074
  • May 6, 2016 10:11am May 6, 2016 10:11am
GJ fighting at 154.000.....
I neutral at this level.
Still holding short and hoping for the best tho!.
I want a lower entry to go long at.​
153 is a good place for me to swing
  • #17,075
  • May 6, 2016 10:28am May 6, 2016 10:28am
Quoting Mpt
Some folks here would be aware as to how I identify supports and resistances in a 'graphic' format. As a small matter of interest, this place here if the precise spot where, not only would the moves from 174 - 196 (starting 2013) end, but, of even more significance it's where the entire correction first entered at 194 in the great fall of Sept 1992 would end as well. That's a mere 285 months. Should it really break down, that simple fact would point towards Sterling Yen going to a place that no Sterling Yen has gone before.
Please would you explain in a bit more detail what you mean by this?
Thanks in advance.

In October 2015, when the pair was at 185, a chap from Morgan Stanley said that it was the most overvalued pair in forex. He expects it to dive over the next 5 years, possibly even halving in value. I'm not sure if this is relevant to your point.
  • #17,076
  • May 6, 2016 10:44am May 6, 2016 10:44am
Quoting lancedes
{quote} Please would you explain in a bit more detail what you mean by this? Thanks in advance. In October 2015, when the pair was at 185, a chap from Morgan Stanley said that it was the most overvalued pair in forex. He expects it to dive over the next 5 years, possibly even halving in value. I'm not sure if this is relevant to your point.
i remember when david cameron was elected, some of his policies would have meant that around 2016 - 2018 the pound would have also taken a beating (I cant remember exactly right now, but it was clear as day that the pound would fall), so idk if this pair would see anything close to 194 anytime soon again, especially with yen strength, most of my trades short the pound. added fears of brexit etc, just make it more convincing to me lol
  • #17,077
  • May 6, 2016 11:06am May 6, 2016 11:06am
do not forget kuroda. if you think he just going to sit back and watch his plan go to hell you're trippin. he warned everyone again on his recent trip to germany.

anyways, if this falls its more a GU issue than a UJ issue imo. USD seems to be holding on very well with the numbers. look for 95 next on the dxy
  • #17,078
  • May 6, 2016 11:37am May 6, 2016 11:37am
Quoting Gupz
{quote} i remember when david cameron was elected, some of his policies would have meant that around 2016 - 2018 the pound would have also taken a beating (I cant remember exactly right now, but it was clear as day that the pound would fall), so idk if this pair would see anything close to 194 anytime soon again, especially with yen strength, most of my trades short the pound. added fears of brexit etc, just make it more convincing to me lol
I believe the pound will bounce pretty hard once the referendum has passed. Whether the vote is a stay or a go, the pound will make a comeback, as the market adapts to the ramifications of what the outcome is. Easier trading decisions for us, i reckon.
  • #17,079
  • May 6, 2016 7:50pm May 6, 2016 7:50pm
Quoting lancedes
{quote} Please would you explain in a bit more detail what you mean by this? Thanks in advance. In October 2015, when the pair was at 185, a chap from Morgan Stanley said that it was the most overvalued pair in forex. He expects it to dive over the next 5 years, possibly even halving in value. I'm not sure if this is relevant to your point.
Yes, it would be relevant. I'll post more stuff over the next couple of days, but suffice say that when the pair was down below 118, the next support was clearly in the 105 area. Whilst most pundits were of the opinion that 100 would never break, the optimum final bottom was around 92. There's your 50% from 185.However, 153/ 152x would have to break. Because under there the chances of this not being a simple correction begin to rise significantly.More later as promised.....
  • #17,080
  • May 6, 2016 9:48pm May 6, 2016 9:48pm
Quoting lancedes
{quote} I believe the pound will bounce pretty hard once the referendum has passed. Whether the vote is a stay or a go, the pound will make a comeback, as the market adapts to the ramifications of what the outcome is. Easier trading decisions for us, i reckon.
The implications of this would be far fetched with the possibility of a Brexit and also the Bank of England Monetary Policy Committee minutes which is due to come on the Thursday along with the Quarterly Inflation report.
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