Dragon Riders GBP/JPY

Was that broker tradersway?......

they may may go out of business soon.....run with the money....not regulated.....

Good God people is this pair going to ever break down short on the daily? Patience is not a virtue

I didn't post this, nor comment at the time as I really was unsure.

One of the very very few wave trades that work out are for end of wave 4 when three parameters are met. Wave 4 moves into wave 5 which is the last and final wave. Wave 5 is usually 1.618 the length of wave 1 which was possibly 1566 pips long, suggesting 1566 x 1.618 = 2533. Ex 148.4 that suggests exactly double bottom. However further extension is possible. Truncation is also possible.

!. Price retraces tom the 38.2 wrt top of wave 2 - in this case possibly 188.8. This was met.

2. Price is very oversold/overbought. This was met.

3. The AO indicator returns to zero. This was met.


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Chart 1




Another chart maybe later. Suffice to say that, as I opined here on the day when it rose "As long as it remains under 131.5". 131.5 has been a long term pain and, I believe the likely central pivot for the last 6 months, in fact since 1995. Note where the Dec 2012 monthly candle tested back to.

122 was an attempt at a break but if it was not the all time low it MAY only have been as part of an expanding wave 4 triangle. That being a scenario, the 131.5 central pivot, if ever revisited or broken only represents the 50% mark. Without too much more, the possible formation structure could be a top of 148.5 and a bottom at 115, placing price now at the 23.6 retracement. (140.4). If it gets up from here, fine. Otherwise, the central pivot may come into play at some time.

couple of spots I might try some scalps today....

There's a square...up candle down there at 137......you know.....the banks have unfinished money there.....

139.2 top of daily ichimoku cloud. Some poss support 139.5/6 before then

got no action yesterday, look to get some today perhaps...

will try buys at 140.15 for 140.47 initially, 2 sizes, sl 139.98,then aim for 140.71, before further considerations intra-day


good to go, charts to follow

breakout and above trading 140.27 is the key for bulls today, will watch 140.19 to add one or above 140.27(PA dependent)

Above 141.06 is not out of the question, then maybe 141.5, 142.5 ???

More pips to all

NB. am unable to post chart now, my apologies

..there you go, one more at 140.12, will see. sl at 139.98

the fight is on at 140.27, may close the last position around here and move sl on one other to BE, leave the last position with sl remains at 139.98,

the fight is still on and 3 trades is still on originally proposed no changes yet, watching this 140.27 area

silver, gold to fall or no?

not looking too bad now, may just let this bulls run alittle above initial TP1 at 140.47, watching...

close last position entered at 140.12 at 140.44(30 pips approx), two trades left with entry at 140.15, sl now at 140.05(10pips x 2 positions) to target 140.71 on one trade, then the TP for the last at 141.42

banked some profit now, no matter what happens no loss today!!!

More pips to all

Hello everyone. Being as my thread is dead, even though I am profiting and willing to teach a few things, I'll do my posting here being that I am in love with GBP/JPY.

Traders way is a very very very good broker

So, there we are. It took exactly 1 week from 143 for this TP target to get hit (~400 pips), not a bad profit at all. If the momentum gets strong enough during asian session, I expect next target: 134.10 by the end of week.

What a nice pair! Just closed my short 140.300 TP 138.950

The daily 'cloud". Top 139.2/3. Bottom today 134.3. A place that makes things hard to predict. You'll usually get a rejection of sorts at the top. Because the cloud tends to "mask" outside res/support, any solid move into it (possibly under 138.3) can result in acceleration towards 136.5 and below.

Having had a mild bounce, it may come down to the support mentioned 24 hrs ago at 139.5/6 turning into support or resistance.

So...I went and bought Gbp....scaling in till Gbp/ Nzd hits the even 7000

thinking in terms of the year end turn around.....so......Sunday maybe the gbpnzd hits the low......could see a 550 pip spike low....like it did at the high.....an instant pure manipulated spike.....that turns ya to stone when ya see it.....

music ya gotta hear.....Amos Lee.......Vaporize.......
love yas