NFP might also lead to a choppy geppy; If I have to trade the pound sterling around NFP event, I'd trade the cable. Geppy has a good chance of experiencing a whiplash. Update: Geppy is below 177.30; we're pretty much guaranteed to hit 177.10/00. I ...

Dragon Riders GBP/JPY

Maybe. Look for key breaks. In some cases, ascending triangles can break downwards instead of upwards, and descending triangles can break upwards. We need to puncture the hourly ichimoku cloud support around 177.40 to get to 177.

Dragon Riders GBP/JPY

Nothing specific for downwards movement; the same method applies for up & down. A mix of daily fibonacci points + weekly, recent support/resistances, diagonal trendlines, and RSI as a relative indicator (never the leading one). I also look for ...

Dragon Riders GBP/JPY

I'm short gbp/usd and gbp/jpy. My pound sterling price action points to lower areas. I was right, but unfortunately for me, the usd/jpy is holding strong while gbp is devaluing, which causes a bit of a cockblock. I mean, My short from 1.48600 for ...

Dragon Riders GBP/JPY

Update 1: Re-entered short at 178.

Dragon Riders GBP/JPY

177.10/00 is good for scalping, but just make sure your trade sizes are manageable, since it's more than possible to go down 20-30 pip below 177 before climbing back up (i.e. scraping the halfway point to the next support, 176.60/50). Edit: If ...

Dragon Riders GBP/JPY

Short at 178.019. Manual soft SL, hard SL at 178.550 Update: Now moved SL to 177.970. Considering that I shorted a whole lot, I'll still come out by a couple dozen dollars even if we go back up. Sit back, relax, and let the bears run.

Dragon Riders GBP/JPY

Nicely predicted. Stopped right around 178.425 (for now at least). Only problem is, with the upcoming news (NFP) and all, I still can't definitively tell whether this is a intraday bull trend or just a bull trap. We only have 30 minutes until London ...

Dragon Riders GBP/JPY

If the spike above 178 (~178.30) wasn't a false breakout, 177.10/00 is good to long. If news & data tomorrow turn it below 177, expect 176.60/50 as first support.

Dragon Riders GBP/JPY

Alright. 177.50 printed, now let's see if we get a good bounce or we go straight down to 177. I won't be longing right now; just holding onto my shorts from 178.113. This is why longing upward spikes that happen during end-of-month fixes is often ...

Dragon Riders GBP/JPY

Thanks. Good luck on your scalps as well; I think we'll both need it in this market. Update: further downside below 178 seems to be solid now. Given the timing of the spike coinciding with the London fix around 4 hours ago, I'd say a retest of 177 ...

Dragon Riders GBP/JPY

Eh....sorry? But that's what I got. At least right now, we seem to be stuck around the 178.10 S/R. You could just lock in profits; that way, even if I was proven right, you'd still make a profit. And for the GU, I got 1.48160 as the initial main ...

Dragon Riders GBP/JPY

Worry about the NFP tomorrow; it'll have a decent effect on the market. As for Abe & Kuroda, they may just announce somthing out of the blue around halfway through the year, so I wouldn't necessarily buy into their statements about giving away ...

Dragon Riders GBP/JPY

Further QE consideration for the Bank of Japan is not expected until October for now.

Dragon Riders GBP/JPY

I expect a retest of 177.70/50. We may even hit around 177.40/30 before going back to 178+ Right now, I expect further consolidation (probably remaining above 177), followed by a retest of today's highs and beyond. Upside will likely be limited to ...

Dragon Riders GBP/JPY

Overall as we go through 2015,? Yes- it's an uptrend. Right now (~month or so)? Uncertain. Need clearer signal/cleaner break.

Dragon Riders GBP/JPY

Perhaps. Be wary of potential breakdown.

Dragon Riders GBP/JPY

Yeah. I would normally have a prediction for the 175 area, but given the U.K. general elections (in about a month or so I think), I'd rather not give any mid term opinions. Too uncertain for me to make it worthwhile for me to go back to my drawing ...

Dragon Riders GBP/JPY

Probably a reaction at 175.70 (i.e. a bounce), with possible downsides having to face 175 & 174.30 as next main supports. And on that note, please take note that the eur/usd looks to be in a small bounce whilst in a downward trend....I might ...

Dragon Riders GBP/JPY

Given the price movement around 177.60, I'd say we're in shape for testing 177, with a bit of a bumpy road at 177.30 (quarterway between 2 fibonacci S/R). 177 will be the main source of contention; if that gives way, and the gbp/usd & usd/jpy prices ...

Dragon Riders GBP/JPY