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Dragon Riders GBP/JPY

  • #22,521
  • Edited 6:46pm Nov 16, 2016 8:35am | Edited 6:46pm
we're thinking the same.....I have Nov 17 as the time for a U S Dollar downfall......I just blew a bunch on ebay Silver prospector 1 ounce rounds.....gonna add if we see a dip, which is expected, like a dip just to 677.00 dollars in Gold.....real quick......that's the buy and hold till 3000.00 dollars oz

Quoting PayTheLimit
I hate this dumb pair, that's for damn sure, but I'll try some shorts at 136.75, risk 100 pips. The trend has been down all year really, and perhaps we see some weakness into year end. I'll try for 130 or so...
  • #22,522
  • Nov 16, 2016 2:07pm Nov 16, 2016 2:07pm
In line with the apparent small channels of lessening angle here, I would not be surprised to see a rounding top for some time (read .. many days) that may break up from a little lower down, or may yet follow the possible historical analogy and eventually fall back to the lows. It may be only at the mid point here. Best seen on 4hr charts
  • #22,523
  • Nov 16, 2016 4:17pm Nov 16, 2016 4:17pm
  •  jmmn
  • | Joined Nov 2015 | Status: Learning while making money... | 647 Posts
Quoting Mpt
{quote} Answering honestly, my heart says that it's so overbought that it ought to correct down. In a similar way to the historical record i offered earlier. My brain says that it was in a rising and bullish channel, that it has just fallen back into for retest of the previous high. Going with the brain argument, it may be poised to make a very bullish move up - and the overbought stuff can be dealt with later. Just so long as the bullish move makes a new high. FWIW this is the 50% place of the move 122.6/ 148.4 , where it confirmed the brexit drop....
Thanks again. It seems that with the new candle it is starting to go south..., but very timidly... Don't you think so?
  • #22,524
  • Nov 16, 2016 6:55pm Nov 16, 2016 6:55pm
long at 135.25....4 pip stop....and a 7 pip stop.....shoot for the moon
  • #22,525
  • Nov 17, 2016 12:01am Nov 17, 2016 12:01am
Quoting Gbp/jpy
we're thinking the same.....I have Nov 17 as the time for a U S Dollar downfall......I just blew a bunch on ebay Silver prospector 1 ounce rounds.....gonna add if we see a dip, which is expected, like a dip just to 677.00 dollars in Gold.....real quick......that's the buy and hold till 3000.00 dollars oz {quote}
that's today man..
Look Sharp/Trade Tight
  • #22,526
  • Nov 17, 2016 7:14am Nov 17, 2016 7:14am
Triggered my sell stop on one of my accounts and didn't even entertain going down... heading up... As per daily fib... I see 136.75... but I'm hoping for 137.004 as we retest to the top. It sucks when you trade loss recovery style and to don't get to recover the loss with a hedge trade... you have to hedge your hedge this is where it gets ticklish...lol
I'll pick up the crumbs don't need the whole pie
  • #22,527
  • Nov 17, 2016 8:41am Nov 17, 2016 8:41am
Quoting Quickiepip
Triggered my sell stop on one of my accounts and didn't even entertain going down... heading up... As per daily fib... I see 136.75... but I'm hoping for 137.004 as we retest to the top. It sucks when you trade loss recovery style and to don't get to recover the loss with a hedge trade... you have to hedge your hedge this is where it gets ticklish...lol
It makes you sleep better... though in time you have to erase those negatives. Not the worst kind of trading IMO.
  • #22,528
  • Nov 17, 2016 9:40am Nov 17, 2016 9:40am
Next USDJPY big resistance is @ 111.20. If this pair keeps climbing, GBPJPY could make new monthly highs. IMO 138.90 could be turning point, possibly to be tested till Friday. But also correction still highly probable, as uptrend gives signs of exhaustion. Trade carefully.
  • #22,529
  • Edited Nov 18, 2016 1:16am Nov 17, 2016 11:51am | Edited Nov 18, 2016 1:16am
We are at a turning point, I'll play it by ear. I believe as per the weekly chart if we can close above 137.000 tomorrow 139 will be on the table for early next week... 137 will become support. Normally when the weekly candle hits the 26ma it gets a hard reject. I'm not saying it isn't possible for it to go back down to 132.00ish but hopefully not.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-w1-trading-point-of.png Size: 52 KB
I'll pick up the crumbs don't need the whole pie
  • #22,530
  • Edited 3:48pm Nov 17, 2016 3:23pm | Edited 3:48pm
137 38.2 retrace brexit high to 122.7

137.2/3 ish top of possible descending wedge?

Kind of doubt it though
  • #22,531
  • Nov 18, 2016 7:25am Nov 18, 2016 7:25am
  •  jmmn
  • | Joined Nov 2015 | Status: Learning while making money... | 647 Posts
Quoting Mpt
137 38.2 retrace brexit high to 122.7 137.2/3 ish top of possible descending wedge? Kind of doubt it though
You are going to be right!!!
  • #22,532
  • Nov 18, 2016 2:03pm Nov 18, 2016 2:03pm
Fight smart and hard , this is a war
Inserted Video
  • #22,533
  • Nov 20, 2016 8:55am Nov 20, 2016 8:55am
weekly hitting the 26ema.....how cool.....I see it containing on your chart, thank you

Quoting Quickiepip
We are at a turning point, I'll play it by ear. I believe as per the weekly chart if we can close above 137.000 tomorrow 139 will be on the table for early next week... 137 will become support. Normally when the weekly candle hits the 26ma it gets a hard reject. I'm not saying it isn't possible for it to go back down to 132.00ish but hopefully not. {image}
  • #22,534
  • Nov 20, 2016 8:59am Nov 20, 2016 8:59am
I'm reading all of ya's.....you're all genius
  • #22,535
  • Nov 20, 2016 6:20pm Nov 20, 2016 6:20pm
Entered long @ 136.740





...
  • #22,536
  • Nov 20, 2016 10:37pm Nov 20, 2016 10:37pm
seems a buy agreed

but I just sold 137 even coza da divergence on daily and 4H.......tight stop at .44 or so, you know, above my " sticky " zone.....I'm gonna get stomped on, HUH!!!
  • #22,537
  • Edited 10:52pm Nov 20, 2016 10:41pm | Edited 10:52pm
FWIW, this pair fell out of support around Nov 2 for about a day, before getting back up. It fell again on 8/9 Nov (depending on where you live). It broke support by a small number of pips on Friday. It opened today outside.

Whilst the central pivot of about 138.5/8 has relevance, so does the next lot extending up to 140 to 141.

However, I note another res that arrives on station today at pretty much wherein would sit the double top. +/- 30 pips.

Only holding over 142 would i call it "up"
  • #22,538
  • Nov 20, 2016 11:33pm Nov 20, 2016 11:33pm
i just went buy on that NZD usd......figuring the u s dollar will fall
  • #22,539
  • Nov 20, 2016 11:50pm Nov 20, 2016 11:50pm
On the daily it bounced of the fib 50.0% retracement level, and the weekly of the 61.8% so the move up should continue. Plus the weekly closed above the 26 ma so 136.24 area becomes support. If there is gas in the tank today we could see 138.921.... I don't know if Gbp/jpy is joking it's hard to tell from his comments.

Since friday its run down 150 pips then up 150 pips it should break the range and give us some pips on the top side... unless it's a big boy move where they force it down, support should hold. I need some top side pips lol.. it's funny how you can see exactly what you need...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-d1-trading-point-of.png Size: 77 KB
I'll pick up the crumbs don't need the whole pie
  • #22,540
  • Nov 21, 2016 2:51am Nov 21, 2016 2:51am
were close to 136.36....the 333 sma 15M
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