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Dragon Riders GBP/JPY

  • #23,461
  • Mar 8, 2017 10:08am Mar 8, 2017 10:08am
Whipsaw. Trade safe
  • #23,462
  • Mar 8, 2017 8:01pm Mar 8, 2017 8:01pm
Dang fine timing....slo azz market....huh!
it really needs to get normal

Quoting RondaRousey
still holding short. was tempted to go long 8-10 hours ago but didn't. unusual movement.
  • #23,463
  • Edited Mar 9, 2017 2:14am Mar 8, 2017 8:44pm | Edited Mar 9, 2017 2:14am
Quoting Gbp/jpy
Dang fine timing....slo azz market....huh! it really needs to get normal {quote}
Reckon it began to get normal about 20 hrs ago after it hit support and accelerated up to hit 400+ hrs* of circular resistance at 139.6. After another drop into longer term tl support, it broke up to attempt break out at 139.4. As long as 139 ~139.2 holds, I think it's good for another move north.



* It's wider than that, but it fell back into it some 330 x 4hrs ago at 144.8. I know you're big on the 333 sma on 15 minute, but a look at what price was doing 330 times any period ago will often show a supportive or resistive TL
  • #23,464
  • Mar 8, 2017 8:52pm Mar 8, 2017 8:52pm

No worry mates


but get ready to trade other instruments, not so much the currencies anymore

  • #23,465
  • Mar 8, 2017 8:54pm Mar 8, 2017 8:54pm
Hey Mot, is it still in the triangle hourly.....it was running out of candles

Quoting Mpt
{quote} Reckon it began to get normal about 20 hrs ago after it hit support and accelerated up to hit 400+ hrs of circular resistance at 139.6. After another drop into longer term tl support, it broke up and broke circular res at 139.25. As long as 139 ~139.2 holds, I think it's good for another move north.
Y
  • #23,466
  • Mar 8, 2017 9:37pm Mar 8, 2017 9:37pm
Quoting Gbp/jpy
Hey Mot, is it still in the triangle hourly.....it was running out of candles {quote} Y

Dunno, but I'm suspicious that it's in a triangle - like thing as per we had at 174, but any decent move would have to clear 141.25 (weekly cloud) and 142.5 b4 anything else. Over 140 1st would be a good start
  • #23,467
  • Mar 8, 2017 11:09pm Mar 8, 2017 11:09pm
Quoting Gbp/jpy
No worry mates but get ready to trade other instruments, not so much the currencies anymore
I actually find it nice to trade around these zone. It's easy to identify which zone the pair will react.

Good for hedging and scalping.

Quoting Mpt
{quote} Dunno, but I'm suspicious that it's in a triangle - like thing as per we had at 174, but any decent move would have to clear 141.25 (weekly cloud) and 142.5 b4 anything else. Over 140 1st would be a good start
I agree. It is in triangle. For a second I thought it's heading south until it went straight back into the triangle zone. probably need another week or so to see clearer direction but 139 has proven to be a good and strong area.
  • #23,468
  • Mar 9, 2017 3:35am Mar 9, 2017 3:35am
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  • #23,469
  • Mar 9, 2017 6:29am Mar 9, 2017 6:29am
Waiting for the break of 139.70 resistance level. TP 140.10-140.70
  • #23,470
  • Mar 9, 2017 5:14pm Mar 9, 2017 5:14pm
Quoting Gbp/jpy
Dang fine timing....slo azz market....huh! it really needs to get normal {quote}
All the action has been in commodities like GOLD. Nothing much happening in currencies. Went long GBP/JPY
You came here for the truth and let me unveil it for you
  • #23,471
  • Mar 9, 2017 5:48pm Mar 9, 2017 5:48pm
Two options

1. will wait for the break of 140.70
2. or wait for the break of area of confluence from the previous week at 141.379.
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  • #23,472
  • Edited 7:23pm Mar 9, 2017 6:56pm | Edited 7:23pm
140.10 broken, target: 141.70
  • #23,473
  • Mar 9, 2017 7:30pm Mar 9, 2017 7:30pm
Quoting kenorb
140.10 broken, target: 141.70
Not convincing enough. Short for quick 30pips.
  • #23,474
  • Mar 9, 2017 7:53pm Mar 9, 2017 7:53pm
Buy just now....140.02......that's completes the break through up at 140.02, then a return retrace......now it's off the nether regions upward, my one stop......I'm all out of bullets almost from the crude oil party that's been going on lately, my stop is 139.500

that last low at 139.67 was the trend line offset its following now, to the upside it switched three hours ago, could ya just feel it
  • #23,475
  • Mar 9, 2017 10:10pm Mar 9, 2017 10:10pm
[GBPJPY] [H4] resistance 140.010
[USDJPY] [H4] SUPPORT 114.41
[EURJPY] [H4] SUPPORT 121.060
===========
stochastic H4 for above pairs all touching ceiling now , care.
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Exits == most important part of your strategy
  • #23,476
  • Edited Mar 10, 2017 5:00am Mar 9, 2017 11:30pm | Edited Mar 10, 2017 5:00am
140.25 to 140.5 must break to certify an uptrend. Otherwise back to 139.5/139.2 ish
  • #23,477
  • Mar 10, 2017 1:11am Mar 10, 2017 1:11am
Keeping an eye on 140.55-140.70.... Rejection zone
  • #23,478
  • Mar 10, 2017 2:25am Mar 10, 2017 2:25am
Since all 3 pairs H4 stochastic overbought [ GJ , EJ, UJ ], we must prepare to close long [ 50 min later] once H4 bar end , imo.
* judge accordingly.
https://www.forexfactory.com/showthr...65#post9648965
Exits == most important part of your strategy
  • #23,479
  • Mar 10, 2017 3:16am Mar 10, 2017 3:16am
Quoting edmun1388
Since all 3 pairs H4 stochastic overbought [ GJ , EJ, UJ ], we must prepare to close long [ 50 min later] once H4 bar end , imo. * judge accordingly. https://www.forexfactory.com/showthr...65#post9648965
I agree. All 3 pairs are heavily overbought in H4 but not yet ready to short.
"If you are not long, that doesn't mean you have to be short"
  • #23,480
  • Edited 4:22am Mar 10, 2017 4:06am | Edited 4:22am
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Up against trendline , shall we break and close above or will we fail and retest the 139.6 /.3 area??
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