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Dragon Riders GBP/JPY

  • #17,421
  • May 18, 2016 6:30am May 18, 2016 6:30am
Quoting maflip
{quote} Strong rally if they break up here then we are out of consolidation. I dunno bro I'm watching same as you. If so this is the 4th attempt now.
Even i am a spectator but took a small risk hoping in its 4th attempt it will break 61.8
  • #17,422
  • May 18, 2016 6:34am May 18, 2016 6:34am
Quoting simnz
Today the market maker intention is to drive down EURGBP. So Euro has to go down and GBP has to go up slowly. GBPJPY will move accordingly. Up and down not significantly.
Simnz you were right..EURGBP did push down and GBPJPY is gowing up nw ...How did you know that ...Please share?
  • #17,423
  • May 18, 2016 6:38am May 18, 2016 6:38am
Quoting eugenyk
something's happening with the cable
Due to good data about cable
It is not a shame to fall .. but shame that we cannot rise
  • #17,424
  • May 18, 2016 6:55am May 18, 2016 6:55am
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Forex, awful to watch, AWESOME to play
  • #17,425
  • May 18, 2016 7:03am May 18, 2016 7:03am
Attached Image
Forex, awful to watch, AWESOME to play
  • #17,426
  • May 18, 2016 7:11am May 18, 2016 7:11am
Quoting HaLBot
{quote} Where does that information come from or is it something you have worked out from charting? I know it's early days yet but atm it seems to be the opposite happening....
If you use EURGBP overlay on GBPJPY and watch the trend from 2 ET am, you can guess what is going to happen.
Whether the plan is to cut EURGBP by 100 pips or 50 pips we will know soon. 50 pips already cut.
Practice makes a person perfect
  • #17,427
  • May 18, 2016 7:14am May 18, 2016 7:14am
Quoting simnz
{quote} If you use EURGBP overlay on GBPJPY and watch the trend from 2 ET am, you can guess what is going to happen. Whether the plan is to cut EURGBP by 100 pips or 50 pips we will know soon. 50 pips already cut.
Thanks
Don't Leave Money on the Table
  • #17,428
  • May 18, 2016 7:19am May 18, 2016 7:19am
Quoting subbusuper
Going to break 61.8 or bears back again ? {image}
Decision time
  • #17,429
  • Edited 8:17am May 18, 2016 7:44am | Edited 8:17am
That was the initial breakout from the consolidation that commenced May 10. Over the next few hours, it should fall back very slowly to retest breakout and the move from there will be the big decider. Thus far with that move, the consol height is now known to be 360 pips. That gets applied to final breakout following retest to determine target.

edit oh well, no retest. Just plain bullish
  • #17,430
  • May 18, 2016 7:45am May 18, 2016 7:45am
Quoting HaLBot
{quote} Thanks
The possibility of pushing GBP after CBIndicator event can't be ruled out. If it happens, the reversal will probably happen after FOMC minutes and Halden speech.
three events will be used as triggers to move GBP today. the target is EURGBP and if the idea is to go for 200 pips then the story will continue tomorrow and
GBPJPY may not drop today substantially.
Practice makes a person perfect
  • #17,431
  • May 18, 2016 8:06am May 18, 2016 8:06am
The possibility of GBPJPY hitting 162 by Friday is very much there if the intention is to depreciate GBPJPY substantially.
Practice makes a person perfect
  • #17,432
  • May 18, 2016 8:10am May 18, 2016 8:10am
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  • #17,433
  • May 18, 2016 10:36am May 18, 2016 10:36am
Looking at the Daily, the chart is putting in a pretty solid base now between 152 and 162. Do you guys think we could be in for a long term reversal back up to the 180's, or at least one more bounce around 152 before that happens? It seems current strength Brexit poll driven. If remain is the outcome the pair may become overpriced pretty quick. and... well.... if its a leave outcome, this pair should drop off a cliff substantially. 100 might even be a target in the longer longer term.
  • #17,434
  • May 18, 2016 11:11am May 18, 2016 11:11am
Not suggesting anything here but a jump of that parallel could mean a push to the 1.618 extension. A rejection and well its a big bear flag...
Attached Image (click to enlarge)
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  • #17,435
  • May 18, 2016 11:12am May 18, 2016 11:12am
Inverse head & shoulders in D1 chart. Can expect more rally tho fundamentally not really sexy for GBP? Anyone can shed some lights?
  • #17,436
  • May 18, 2016 11:28am May 18, 2016 11:28am
Quoting raiders
Not suggesting anything here but a jump of that parallel could mean a push to the 1.618 extension. A rejection and well its a big bear flag... {image}
did you hold the one we had a discussion last week ?,
  • #17,437
  • May 18, 2016 11:33am May 18, 2016 11:33am
Quoting raiders
Not suggesting anything here but a jump of that parallel could mean a push to the 1.618 extension. A rejection and well its a big bear flag... {image}
In my opinion we are shooting for 161.00 before we see a retrace.
  • #17,438
  • May 18, 2016 11:36am May 18, 2016 11:36am
Quoting gnajra
{quote} did you hold the one we had a discussion last week ?,
Nope. I very rarely hold over a weekend and if I do its never short jpy. From my experience nothing good ever happens over a weekend so risk off over a weekend is my only scenario if i must hold
  • #17,439
  • May 18, 2016 11:43am May 18, 2016 11:43am
side note....UJ seems to be finishing off an ending diagonal with nice bearish divergence....dxy got very close to the 95 level i was searching for before rejecting...id be extremely shocked if UJ and other yen paris did not sell off after the fomc minutes drop.
  • #17,440
  • May 18, 2016 3:16pm May 18, 2016 3:16pm
Quoting raiders
side note....UJ seems to be finishing off an ending diagonal with nice bearish divergence....dxy got very close to the 95 level i was searching for before rejecting...id be extremely shocked if UJ and other yen paris did not sell off after the fomc minutes drop.
well...im shocked. minutes dont say anything new but usd pairs seem to like it. whatever....on to the next set up.
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