Gbp/jpy

[shakesfx]

Good Afternoon,

Well price broke out of the 15mins triangle posted earlier from 200 to 199.31, back to 200.72 and down to 199.16, we are testing North again as I write.

I have placed another short at 200.48, but wondering if we are in for a reversal?? The 4hr triangle posted below (before and after last night) is causing me concern - do you think the same or are we just in the range and the setup remains valid?

Pipchick, sorry if I seem to be hijacking your thread - don't mean to, was hoping for a bit more response on here? Seems not many trade this pair...Are you trading today pip? Your advice would be welcome

[cadarkitek]

I made my 1st trade on this pair this morning, i got a short signal @ 199.92 took it and TP was hit @ 50 pips. It went all the to 199.13 before reversing.

[shakesfx]

Originally Posted by cadarkitek

I made my 1st trade on this pair this morning, i got a short signal @ 199.92 took it and TP was hit @ 50 pips. It went all the to 199.13 before reversing.

Well done! Seems like your system works well on this pair too

[PipChick]

I am goin out of town unexpectedly for a few days. Make me some pips while I am gone. I hope to be back tomorrow eve or fri.

[PipChick]

Originally Posted by shakesfx

Good Afternoon,

Well price broke out of the 15mins triangle posted earlier from 200 to 199.31, back to 200.72 and down to 199.16, we are testing North again as I write.

I have placed another short at 200.48, but wondering if we are in for a reversal?? The 4hr triangle posted below (before and after last night) is causing me concern - do you think the same or are we just in the range and the setup remains valid?

Pipchick, sorry if I seem to be hijacking your thread - don't mean to, was hoping for a bit more response on here? Seems not many trade this pair...Are you trading today pip? Your advice would be welcome

Heck Shakes...its a thread for all to share the g/j ideas. Youre definately not hijacking!!! I enjoy watching how others trade also, its how we learn. I have been a bit preoccupied this morning getting things ready to go but hopefully I will be back in time to trade fri morning.

[PipChick]

Here is what I see..
The daily chart has a down h/s with the right shoulder about 200.76 so if that breaks to the upside then we may see some pretty good longs. (Possibly up to the 4 hr rt shoulder.The 4 hr down H/S is still intact also.I am thinking that if it breaks the 200.75 long, especially if the 31 period cci penetrates the 0 line to the upside, that it would be a nice long trade. But if it fails there again, we could finally see the NL break of the 4 hr down h/s. 1st chart is the daily and second is the 4 hr. I forgot to label them.

[shakesfx]

Originally Posted by PipChick

I am goin out of town unexpectedly for a few days. Make me some pips while I am gone. I hope to be back tomorrow eve or fri.

Ok, enjoy. I hope to have some more pips on the table by pm tomorrow...


Right,

Here's what I see now...Currently price at 200.50

1Hr Chart shows a double top, retracements keep being bounced back North from daily/weekly pivot at 199.50

Daily Chart shows Slow stochs curling up, Price closing above 5ema...

So, I think we will either...

A. South to199.50, small bounce and through to 197.40 by end tomorrow.

B. South to 199.50, bounce to 201.90, then South to 197.40

C. Breach 200.90 and continue North to 201.90 or even 204-05..

I personally believe senario B. - South to 197.40

I will have to see how the next few hours play out before I kill my short positions if I am wrong...

What does anyone else think?

[shakesfx]

Originally Posted by PipChick

Here is what I see..
The daily chart has a down h/s with the right shoulder about 200.76 so if that breaks to the upside then we may see some pretty good longs. (Possibly up to the 4 hr rt shoulder.The 4 hr down H/S is still intact also.I am thinking that if it breaks the 200.75 long, especially if the 31 period cci penetrates the 0 line to the upside, that it would be a nice long trade. But if it fails there again, we could finally see the NL break of the 4 hr down h/s. 1st chart is the daily and second is the 4 hr. I forgot to label them.

Thanks, Looks like indecision in the price action at the moment, I am not sure where this will go...Hopefully the next few hours will tell...Hope its South though

[shakesfx]

Reversal candles now forming on the 1hr Chart...

15mins, 30mins, 1hr now peaked on CCI, Slow Stochs turning down, Resistance holding...

GET DOWN Geppy - Give me my PIPS

1HR attached

[shakesfx]

Originally Posted by shakesfx

Reversal candles now forming on the 1hr Chart...

15mins, 30mins, 1hr now peaked on CCI, Slow Stochs turning down, Resistance holding...

GET DOWN Geppy - Give me my PIPS

1HR attached

Ok, Reversal candles have completed into 2 x 1hr Dojis...Still waiting to see if this is the Drop South. I've attached a Daily Chart...Looks like we are about to touch the Daily upper down trend line soon, but we may go South quite rapidly before then. Do these daily trend lines look correct to anyone?