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Dragon Riders GBP/JPY

  • #24,461
  • Jun 20, 2017 12:15am Jun 20, 2017 12:15am
Quoting gespiri
I think it has to be mentioned that this is an ascending TRIANGLE, NOT and ascending WEDGE.
Well on the 5-min it's more like a rectangle, see chart below

Quoting gespiri
The former guarantees a drop
There is no guarantee in trading, that would be too easy.
Attached Image (click to enlarge)
Click to Enlarge Name: bk-_GBP-_Yen.png Size: 165 KB
  • #24,462
  • Jun 20, 2017 12:46am Jun 20, 2017 12:46am
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  • #24,463
  • Jun 20, 2017 12:59am Jun 20, 2017 12:59am
Quoting Mr Breakout
{quote} The high or the low of the day usually occurs between 2 AM and 4 AM (New York time), sometimes sooner if the trend is strong, so we might see some small pullback to the downside before take-off.
GBP/JPY now at 142.10, this is the pullback I was talking about...
  • #24,464
  • Jun 20, 2017 1:12am Jun 20, 2017 1:12am
Quoting Mr Breakout
{quote} GBP/JPY now at 142.10, this is the pullback I was talking about...
what percent do you think its going to head north? i am looking for long positions too...
  • #24,465
  • Jun 20, 2017 1:15am Jun 20, 2017 1:15am
Quoting readpiple
{quote} what percent do you think its going to head north? i am looking for long positions too...
I believe a pullback down to 142.00 is possible (although not likely) but that's the maximum...
  • #24,466
  • Jun 20, 2017 1:27am Jun 20, 2017 1:27am
This is what i'm looking for and have a feeling Carney may push it down to 141.60/80 before refuelling and letting it rocket up 300pips or so
Attached Image
Just my 2 cents worth
  • #24,467
  • Jun 20, 2017 1:27am Jun 20, 2017 1:27am
Quoting Mr Breakout
{quote} I believe a pullback down to 142.00 is possible (although not likely) but that's the maximum...
except for the chart patterns on h4, daily and weekly, nothing significant says there is a bullish run ahead.... so i am a bit skeptical but still i like to see how this plays through...... news in an hour.....
  • #24,468
  • Jun 20, 2017 1:44am Jun 20, 2017 1:44am
Quoting Guy Mann
Carney may push it down to 141.60/80 before refuelling and letting it rocket up 300pips or so {image}
No way.
  • #24,469
  • Jun 20, 2017 1:47am Jun 20, 2017 1:47am
The market markets just printed a phony shooting star to discourage the buyers (see 5-min chart)!
Yeah sure, let's all abandon our long positions and go short
Attached Image (click to enlarge)
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  • #24,470
  • Jun 20, 2017 1:49am Jun 20, 2017 1:49am
Attached Image (click to enlarge)
Click to Enlarge Name: GJ-15.png Size: 23 KB

Attached Image
  • #24,471
  • Jun 20, 2017 1:58am Jun 20, 2017 1:58am
Quoting Mr Breakout
The market markets just printed a phony shooting star to discourage the buyers (see 5-min chart)! Yeah sure, let's all abandon our long positions and go short {image}
Eh mate! I doubt if you'll bet your trade on a 5 min signal. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #24,472
  • Jun 20, 2017 2:04am Jun 20, 2017 2:04am
Quoting KeenPips
I doubt if you'll bet your trade on a 5 min signal.
These smaller time frames can still give some very interesting clues to the astute trader who can decode their subtle message...
  • #24,473
  • Jun 20, 2017 2:07am Jun 20, 2017 2:07am
Keep going up boy!
  • #24,474
  • Jun 20, 2017 2:09am Jun 20, 2017 2:09am
Quoting Mr Breakout
Keep going up boy!
Attached Image
  • #24,475
  • Jun 20, 2017 2:10am Jun 20, 2017 2:10am
Quoting Mr Breakout
{quote} These smaller time frames can still give some very interesting clues to the astute trader who can decode their subtle message...
Nice
Just my 2 cents worth
  • #24,476
  • Edited 3:01am Jun 20, 2017 2:10am | Edited 3:01am
Quoting Pips_Cruiser
{quote} {image}


Now all we need is Carney's speech and we will make out like bandits!
Or not.
  • #24,477
  • Jun 20, 2017 2:14am Jun 20, 2017 2:14am
BAMMMM!!! then, waiting for BOE Gov Carney Speaks.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.PNG Size: 102 KB
https://bit.ly/3Iel8hJ
  • #24,478
  • Jun 20, 2017 2:22am Jun 20, 2017 2:22am
Waiting for the pullback to 142.35 to buy some more.
  • #24,479
  • Jun 20, 2017 2:26am Jun 20, 2017 2:26am
Quoting Mr Breakout
The market markets just printed a phony shooting star to discourage the buyers (see 5-min chart)! Yeah sure, let's all abandon our long positions and go short {image}
How do know this one is a phony? And how do know the max pull down is 142.20 will be the max? Care to share ur analysis?
  • #24,480
  • Jun 20, 2017 2:28am Jun 20, 2017 2:28am
Quoting footimy
{quote} How do know this one is a phony? And how do know the max pull down is 142.20 will be the max? Care to share ur analysis?
Some other time, right now I am exhausted (it's almost 3:30 AM this side of the Pound).
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