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Enter The Dragon - GBP/JPY 2 replies

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Attachments: Dragon Riders GBP/JPY
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Dragon Riders GBP/JPY

Quoting thejerre
{quote} 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
Don't overtrade. Check out Pivot trading with TDI. By pivot master Davit. Follow his teachings. Stay Disciplined.

H6

Over===>@142.343====>143.840=======>144.836
Below===>@141.170===>139.994
Attached Image (click to enlarge)
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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?
Hi ForeoneX,

Yes I am still long GBP/JPY at 141.64 (over 20 pips so far).

Watch out if you are short, the breakout to the upside I was talking about seems to be real, at least for now...
Next stop 142.50, watch...
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Exits == most important part of your strategy
Quoting edmun1388
{image}
Momentum building i think...! 139 here we come!!
Quoting thejerre
{quote} Momentum building i think...! 139 here we come!!
NOT trending short bro, unless go below 141.866
Exits == most important part of your strategy
I don't know about 139 since it looked like it established a firm base at 138.62....

If this drops, I would expect until 140.63 to establish the right upside down H/S and then up. This level also coincides with the MM 4/4 level.
Lost....
We are up against the 200 EMA on the daily 142.30ish... the Chaikin & Stoch are pointing up. The daily fib is tight today gonna bounce around like a pin ball, but once enough Bulls get on board next stop 143.934 it's a bullish day
I'll pick up the crumbs don't need the whole pie
Quoting Quickiepip
We are up against the 200 EMA on the daily 142.30ish... the Chaikin & Stoch are pointing up. The daily fib is tight today gonna bounce around like a pin ball, but once enough Bulls get on board next stop 143.934 it's a bullish day
Once enough small-time bulls get on board it will create a new 1-month bottom
After a price rejection at the gap level (142.30) the GBP/JPY is now back in the game, or so it seems.

The breakout to the upside (from a descending channel, see my previous posts) is also still in progress.

Short sellers beware, the GBP/JPY is really not in the mood this time...
Quoting alexpi
{quote} Once enough small-time bulls get on board it will create a new 1-month bottom
We are all just insects/parasites on the back of the beast... I grabbed 70 pips going long all day... but I can be short if need be to cover long losses.. Trade with a back up plan not a sl...lol new bottom works for me... new tops works for me... just move
I'll pick up the crumbs don't need the whole pie
I'm expecting to short it somewhere above 142.20, to TP at 139.00.

And go long somewhere below 139 to hold long term for at least several hundred pips.
Quoting nesta
H6 Over===>@142.343====>143.840=======>144.836 Below===>@141.170===>139.994 {image}
142.343LONG
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Quoting raphaelfx
I'm expecting to short it somewhere above 142.20, to TP at 139.00.
What makes you think that 142.20 is a resistance line that will send the GBP/JPY down?
Just curious.
It isn't 142.20 per se, but above it.

It means that this decision to short it has to come from a new high, and that high right now is 140.2.

So the entry could be near 142.50 or even 143. Where exactly, I don't know. I'll have to wait for confirmation.

Now to get into details of why all of that, it's complicated to explain everything in here, but it's based on some "crazy" analysis that I do.

Many times I'm wrong or just half right and I fix things on the fly, so it doesn't mean that this is guaranteed to happen.
Quoting Mr Breakout
After a price rejection at the gap level (142.30) the GBP/JPY is now back in the game, or so it seems. The breakout to the upside (from a descending channel, see my previous posts) is also still in progress. Short sellers beware, the GBP/JPY is really not in the mood this time...
Yes. I agree with Mr.

i shorted the pair but sl was hit. 15pips
Its a bad dragon
Quoting Mr Breakout
{quote} What makes you think that 142.20 is a resistance line that will send the GBP/JPY down? Just curious.
Hi!

There is daily r1 pivot around 142.20
There is fib 38.2 (148.08 - 138.64)around this level.
In history there was lot of selling from this level.
There is bearish divergence on h1
4h 200 EMA is around 142.27
It is also level where gap was closed.

So this is level were we could see some selling interest again.
Of course strong price movement can also break this level.
Quoting ForeoneX
{quote} Don't overtrade. Check out Pivot trading with TDI. By pivot master Davit. Follow his teachings. Stay Disciplined.

Thanks for the advice...! It is all very welcome... i'm new in this very interesting world!

I will definitely look into the pivot trading thread!!
Quoting LatvianFX
Of course strong price movement can also break this level.
I believe that this is exactly what will happen, the GBP/JPY is going to break that gap level for the third and last time and never look back.
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