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Dragon Riders GBP/JPY

  • #24,381
  • Jun 16, 2017 1:11pm Jun 16, 2017 1:11pm
Quoting raphaelfx
If GJ "drops like a stone again" from here, it will be confirmed that Mr Breakout is a witch.
Sure it will drop like a stone, it has already started.

The next stop is 138.50, at least...

PS: As always, trade at your own risk.
  • #24,382
  • Jun 16, 2017 1:16pm Jun 16, 2017 1:16pm
M5 min 140.15 on Monday

Attached Image (click to enlarge)
Click to Enlarge Name: GJ_Mo.JPG Size: 153 KB


Nice weekend
  • #24,383
  • Edited 2:48pm Jun 16, 2017 2:36pm | Edited 2:48pm
Quoting Isabella_D
M5 min 140.15 on Monday
It's possible, but although I am short GBP/JPY (from the gap point) something is still bothering me : that nasty potential breakout to the upside
from the descending channel (see 1h chart below).

Let's just hope it's a false breakout, or a least a short-lived one, otherwise this could change the whole scenario!
For example a clear breakout above 142.35 could spell trouble for the short sellers...

Quoting Isabella_D
Nice weekend
Have a good weekend too, and thanks for the rose
Attached Image (click to enlarge)
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  • #24,384
  • Jun 16, 2017 3:44pm Jun 16, 2017 3:44pm
Quoting Mr Breakout
{quote} It's possible, but although I am short GBP/JPY (from the gap point) something is still bothering me : that nasty potential breakout to the upside from the descending channel (see 1h chart below). Let's just hope it's a false breakout, or a least a short-lived one, otherwise this could change the whole scenario! For example a clear breakout above 142.35 could spell trouble for the short sellers... {quote} Have a good weekend too, and thanks for the rose {image}
Maybe just a small retracment
H4, brown line
Attached Image (click to enlarge)
Click to Enlarge Name: GJ_Mo2.JPG Size: 167 KB
  • #24,385
  • Jun 16, 2017 3:46pm Jun 16, 2017 3:46pm
long from here @ 141.65
Attached Image (click to enlarge)
Click to Enlarge Name: GJ_LONG1.JPG Size: 167 KB
  • #24,386
  • Jun 16, 2017 3:53pm Jun 16, 2017 3:53pm
Beware the likely breakout coming next week, they just need a little news event in london to trigger a nice run up, expect it.

Quoting Mr Breakout
{quote} It's possible, but although I am short GBP/JPY (from the gap point) something is still bothering me : that nasty potential breakout to the upside from the descending channel (see 1h chart below). Let's just hope it's a false breakout, or a least a short-lived one, otherwise this could change the whole scenario! For example a clear breakout above 142.35 could spell trouble for the short sellers... {quote} Have a good weekend too, and thanks for the rose {image}
  • #24,387
  • Jun 16, 2017 3:54pm Jun 16, 2017 3:54pm
By all means hang on to those, makes sense to me I am also long. Have a great weekend!

Quoting Pollen
{quote} im also long
  • #24,388
  • Jun 16, 2017 3:59pm Jun 16, 2017 3:59pm
I had a bad trade once, then I flipped.

Quoting Quickiepip
{quote} Do you ever have any bad trades... you must be a Guru..lol you should post your results I would like to subscribe
  • #24,389
  • Jun 16, 2017 5:14pm Jun 16, 2017 5:14pm
Quoting rmrf
Beware the likely breakout coming next week, they just need a little news event in london to trigger a nice run up, expect it.
Watch out, if the breakout is false the down move is going to be huge, Fast and Furious style, especially with that kind of neat descending channel formation (see chart above).
  • #24,390
  • Jun 17, 2017 11:00am Jun 17, 2017 11:00am
H1

BELOW===>@141.822====>141.462=====>141.140=====>141.004
ABOVE===>141.823======>142.342=====>{Break_over}====>142.550
Attached Image (click to enlarge)
Click to Enlarge Name: h1.png Size: 60 KB
if you my trade,My-post analysis, subscribed to ME
  • #24,391
  • Jun 18, 2017 2:20pm Jun 18, 2017 2:20pm
I'll be watching for a possible "weekend gap" up that can be shorted. After that, maybe a long to the 142.50 area.

Attached Image (click to enlarge)
Click to Enlarge Name: GJ-H4.png Size: 18 KB
  • #24,392
  • Jun 18, 2017 2:32pm Jun 18, 2017 2:32pm
GBP/JPY is currently at 141.25 (bid) according to the FXCM data feed, down 35 pips from Friday's closing.
Keep going down boy...
  • #24,393
  • Jun 18, 2017 3:06pm Jun 18, 2017 3:06pm
To anyone wondering, you can also check it out if GJ is gaping up or down on this link:

xe.com/currencycharts/?from=GBP&to=JPY&view=12h
  • #24,394
  • Jun 18, 2017 3:22pm Jun 18, 2017 3:22pm
My plan for this week is:

1. Scalp short
2. Scalp long
3. Short and hold (for about 300 pips or so)
4. Long and hold (for about 1000 pips or so)

In that order... if that makes any sense.

I think though this week there will be only enough time to happen number 1, 2 and 3.
  • #24,395
  • Jun 18, 2017 3:26pm Jun 18, 2017 3:26pm
Quoting Pips_Cruiser
I'll be watching for a possible "weekend gap" up that can be shorted. After that, maybe a long to the 142.50 area. {image}
we gapping down 20 pips right now 141.40... but still 30 mins to go... who knows
I'll pick up the crumbs don't need the whole pie
  • #24,396
  • Jun 18, 2017 5:07pm Jun 18, 2017 5:07pm
Some heavy Australian financial reports are coming up in a few minutes (as well as the GBP Rightmove House Prices report), let's see what kind of impact (if any) they have on the GBP/JPY.
  • #24,397
  • Edited 8:02pm Jun 18, 2017 7:51pm | Edited 8:02pm
I closed the short position (from 142.30) and went long at 141.64.
It seems that we now have a new reality (possible breakout in progress from a descending channel, see the chart I posted on Friday).
https://www.forexfactory.com/attachm...0&d=1497641726

Always go with the flow and adapt to continuously changing new realities, that's the secret right there...
  • #24,398
  • Jun 18, 2017 10:42pm Jun 18, 2017 10:42pm
Quoting Mr Breakout
I closed the short position (from 142.30) and went long at 141.64. It seems that we now have a new reality (possible breakout in progress from a descending channel, see the chart I posted on Friday). https://www.forexfactory.com/attachm...0&d=1497641726 Always go with the flow and adapt to continuously changing new realities, that's the secret right there...
Hello Mr,

As per the chart, there is a chance for the pair to short.
Are you still holding your long on this?
  • #24,399
  • Jun 18, 2017 10:47pm Jun 18, 2017 10:47pm
Quoting nesta
H1 BELOW===>@141.822====>141.462=====>141.140=====>141.004 ABOVE===>141.823======>142.342=====>{Break_over}====>142.550 {image}
Long..maybe
if you my trade,My-post analysis, subscribed to ME
  • #24,400
  • Jun 18, 2017 11:23pm Jun 18, 2017 11:23pm
Quoting ForeoneX
{quote} Hello Mr, As per the chart, there is a chance for the pair to short. Are you still holding your long on this?
I'm short from 141.507... currently 30 pips loss... however i am holding on. Seems to have made a lower high just now on the hourly chart. I suspect that there will he some resistance in the 141.7xx area but she will fall through.. offcourse all is depending on the fundamentals of today!

SL 142.050. (Moved due to the lower high.. if anything is gonna happen to the upside it could be a agressive move.. be carefull!

Stay green
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