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Dragon Riders GBP/JPY

  • #24,401
  • Jun 18, 2017 11:48pm Jun 18, 2017 11:48pm
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.

  • #24,402
  • Jun 18, 2017 11:50pm Jun 18, 2017 11:50pm
H6

Over===>@142.343====>143.840=======>144.836
Below===>@141.170===>139.994
Attached Image (click to enlarge)
Click to Enlarge Name: h6.png Size: 81 KB
if you my trade,My-post analysis, subscribed to ME
  • #24,403
  • Jun 19, 2017 1:16am Jun 19, 2017 1:16am
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...
  • #24,404
  • Jun 19, 2017 1:32am Jun 19, 2017 1:32am
Next stop 142.50, watch...
  • #24,405
  • Jun 19, 2017 5:31am Jun 19, 2017 5:31am
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 3 KB
Exits == most important part of your strategy
  • #24,406
  • Jun 19, 2017 5:45am Jun 19, 2017 5:45am
Quoting edmun1388
{image}
Momentum building i think...! 139 here we come!!
  • #24,407
  • Jun 19, 2017 5:47am Jun 19, 2017 5:47am
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
  • #24,408
  • Jun 19, 2017 6:23am Jun 19, 2017 6:23am
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....
  • #24,409
  • Jun 19, 2017 8:02am Jun 19, 2017 8:02am
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
  • #24,410
  • Jun 19, 2017 11:38am Jun 19, 2017 11:38am
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
  • #24,411
  • Jun 19, 2017 11:58am Jun 19, 2017 11:58am
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...
  • #24,412
  • Jun 19, 2017 1:20pm Jun 19, 2017 1:20pm
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
  • #24,413
  • Jun 19, 2017 1:27pm Jun 19, 2017 1:27pm
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.
  • #24,414
  • Jun 19, 2017 1:36pm Jun 19, 2017 1:36pm
Quoting nesta
H6 Over===>@142.343====>143.840=======>144.836 Below===>@141.170===>139.994 {image}
142.343LONG
if you my trade,My-post analysis, subscribed to ME
  • #24,415
  • Jun 19, 2017 1:42pm Jun 19, 2017 1:42pm
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.
  • #24,416
  • Jun 19, 2017 2:00pm Jun 19, 2017 2:00pm
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.
  • #24,417
  • Jun 19, 2017 2:05pm Jun 19, 2017 2:05pm
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
  • #24,418
  • Jun 19, 2017 2:23pm Jun 19, 2017 2:23pm
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.
  • #24,419
  • Jun 19, 2017 2:29pm Jun 19, 2017 2:29pm
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!!
  • #24,420
  • Jun 19, 2017 2:39pm Jun 19, 2017 2:39pm
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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