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Dragon Riders GBP/JPY

  • #18,541
  • Edited 9:30am Jun 16, 2016 9:06am | Edited 9:30am
Just for fun, I set about trying to figure out where Cable supports would be in the event of a large, fairly uncontrolled fall. Over 24/25 years, Cable has operated within 5 primary support/ resistance bands that have been used repeatedly over that time. These are referenced off monthly charts going back to 1992.

1. Firstly, the initial drop commences at around 1.405 ~1.40.

2. Apart from the horizontal supports of 1.385 and 1.35x, next is 1.33. The first two are not primary support points.

3. 1.29, 1.26, 1.22

4. 1.08 (extrapolated only, based on some existing data only going back to 2008)

5. 1.00 (extrapolated only, based on very limited data)
  • #18,542
  • Jun 16, 2016 9:09am Jun 16, 2016 9:09am
Quoting Feo
Cable S1 at 4128, if this hour closes below, can signal move back to day pivot. Then I want GBPJPY to close hour below 147.44, to go long at 147.48.
Pretty convinced this guy is a decoy.. Consistent talk about longs when the trade has been and continues to be short any strength. Why continue to try and fail to call the bottoms counter trend? Ride the wave!
  • #18,543
  • Jun 16, 2016 9:10am Jun 16, 2016 9:10am
The brexit has already been decided i guess

push low so you can buy at low price after the vote
  • #18,544
  • Jun 16, 2016 9:26am Jun 16, 2016 9:26am
Quoting skymania
The brexit has already been decided i guess push low so you can buy at low price after the vote

https://ig.ft.com/sites/brexit-polling/

Looks like it!
  • #18,545
  • Jun 16, 2016 9:30am Jun 16, 2016 9:30am
i kept seeing 131, too...idk.....
Quoting Mpt
Just for fun, I set about trying to figure out where Cable supports would be in the event of a large, fairly uncontrolled fall. Over 24/25 years, Cable has operated within 5 primary support/ resistance bands that have been used repeatedly over that time. These are referenced off monthly charts going back to 1992. 1. Firstly, the initial drop commences at around 1.405 ~1.40. 2. Apart from the horizontal supports of 1.385 and 1.35x, next is 1.33. The first two are not primary support points. 3. 1.29, 1.26, 1.22 4. 1.08 (extrapolated only, based on...
  • #18,546
  • Jun 16, 2016 9:30am Jun 16, 2016 9:30am
Quoting skymania
The brexit has already been decided i guess push low so you can buy at low price after the vote

I think the same ... but where to (which blue line) buy?!
Attached Image (click to enlarge)
Click to Enlarge Name: where.JPG Size: 81 KB
"You may say I am a dreamer .... but I am not the only one."
  • #18,547
  • Jun 16, 2016 9:31am Jun 16, 2016 9:31am
Quoting guesser
{quote} I think the same ... but where to (which blue line) buy?! {image}
Now thats a million dollar question isnt it
  • #18,548
  • Jun 16, 2016 9:33am Jun 16, 2016 9:33am
Quoting RadboneFX
{quote} https://ig.ft.com/sites/brexit-polling/ Looks like it!
Doing a poll on 1000 folks in a 60+ mill country is, well wft.
The biggest samle i found here was 20k people and it was undecided 41% for leave and 41% for stay...
  • #18,549
  • Jun 16, 2016 9:34am Jun 16, 2016 9:34am
Quoting Gbp/jpy
i kept seeing 131, too...idk.....{quote}
Over the years, the zones that I mentioned are often breached - that's another reason why I prefer monthly charts as they even out small over-runs, which can sometimes run up to 200 pips. But only on Cable, which is notoriously messy to chart.
  • #18,550
  • Jun 16, 2016 9:39am Jun 16, 2016 9:39am
And GJ is now departing the bottom of the monthly cloud.
  • #18,551
  • Jun 16, 2016 9:40am Jun 16, 2016 9:40am
Mpt....and 141 on the way up....going from memory...that one was rather stand out....idk about going downward....also the 130's in general went fast both times....as did 125 to 131.....
  • #18,552
  • Jun 16, 2016 9:42am Jun 16, 2016 9:42am
Quoting Mpt
And GJ is now departing the bottom of the monthly cloud.
what you mean?
  • #18,553
  • Jun 16, 2016 9:43am Jun 16, 2016 9:43am
Quoting skymania
{quote} Now thats a million dollar question isnt it
Lol you are right

Inserted Video
"You may say I am a dreamer .... but I am not the only one."
  • #18,554
  • Jun 16, 2016 9:47am Jun 16, 2016 9:47am
Quoting skymania
{quote} what you mean?
Monthly ichimoku cloud. A measure developed by Japanese to denote a rather high res or support area. It was entered at 154 - but it took 3 months to get into. Sometimes hard to get out of too. 145.7/9 is the base
  • #18,555
  • Jun 16, 2016 10:02am Jun 16, 2016 10:02am
Quoting Mpt
{quote} Monthly ichimoku cloud. A measure developed by Japanese to denote a rather high res or support area. It was entered at 154 - but it took 3 months to get into. Sometimes hard to get out of too. 145.7/9 is the base
it already went to 145.36
  • #18,556
  • Jun 16, 2016 10:15am Jun 16, 2016 10:15am
Quoting guesser
{quote} In a channel maybe accumulating orders {image}
Returned into channel
Attached Image (click to enlarge)
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"You may say I am a dreamer .... but I am not the only one."
  • #18,557
  • Jun 16, 2016 10:17am Jun 16, 2016 10:17am
Anyone with a better long entry?

Attached Image (click to enlarge)
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SL already at +10
  • #18,558
  • Jun 16, 2016 10:21am Jun 16, 2016 10:21am
Quoting TheBody
Anyone with a better long entry? {image} SL already at +10
Good entry, almost the bottom
"You may say I am a dreamer .... but I am not the only one."
  • #18,559
  • Jun 16, 2016 11:36am Jun 16, 2016 11:36am
And im out! Quick 200 pips with a small add-on.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY5Min.png Size: 22 KB


Maybe I could have got more pips, but it's too risky holding for too long.
  • #18,560
  • Edited 12:40pm Jun 16, 2016 12:10pm | Edited 12:40pm
Naw, you guys closing 'em out are smart....fast moving market in general.....and lately the lightning strike moves...

why trade long term....at friggin all, just tune in the radio to uhmmm....what's that frequency.....dragon riders club....something like that.... a dude ...FXRay....started it all....blame him for all the wildness the GBP/JPY brings out of a person, huh ? and do what the short termers are clamouring about...tune in to that just one time, please, and then it'd be cool to have a rap session....online....across the globe....gotta be a record of some kind....
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