Maybe I’m not 100% on what NickB reversal trading is but I thought it was just using candle patterns at S&R lines? Anyway, I accept your word on it. If you know of NickB, then I’m sure you know of Fetor as well who drew some example charts on S&R recently, which is what I was referring to. 
Yes, I know Fetor. There are tons of valid S+R lines around for the way he trades. Fetor uses recent S+R lines, and trades movements between the lines. NickB uses long term, historical S+R lines to trade short bursts of momentum when price breaks or bounces off the line.
Going back to ThePhoenix’s trade, A Fetor type trader probably would have entered around the same time, placed his stop back below the 151.50 support, and placed his profit target up near the top of the current trend line, probably somewhere around 157.00.
While we appear to be on the uptrend, I am looking to short off 155 region. Looking at the weekly chart we are aproaching the 38.2 Fib, GJ likes to bounce off that historically. Note the doji on the daily… Stochs way over bought… and have peaked…
Most of the up moves in the last week has been on low volume, so the market is being manipulated IMO. I would be very carefull going long at the moment depending on your trading style. quick scalps ok, i’ll be looking for those as well… target 50-100 pips off the 15m TF trend like i always do;)
But if you are looking for the larger trade, i think its going to be going down 155/6 to 147 (800 pips or so), now should this happen, and a break of 147 could possibly lead to a new low(yes that might be wishful thinking).
The long term down trend is still intact imo, until we break 178
Now just to add to the confusion, If we break 156, we be going to 161-164 I think.
I’m just of the opinion now that we go down before a push up into the 160s, though the last time she broke a triple top, she dropped ~1000 pips(141 to 131) then jumped 1400 pips and continued upward…
Just trade your charts, use good MM, take profit regularly and a decent stop.
Cheers
There is more room for going UP in the channel on the daily chart. I see the doji but it has also bounced off the 4hr support @ 153 for the moment, I might go short there. What do you think? There’s also the last high at 151.49 to be weary of.
Isn’t the triple top supposed to be a reversal pattern - seems to have gone through it already.
Anybody else catch that 155.70 nickb scalp line trade?
I skipped it because I thought it didn’t have enough retracement to be a good scalp line. Even considering it’s the yearly high I didn’t like it.
I’m kicking myself now though…
Yep, got about 80 pips, then closed 75% and got 200 with the remaining 25%
9 wave GBP/JPY ?
See picture.
Does that picture actually mean something or are you just advertising your website??
I don’t get it… 
We discussed this issue in another topic.
Index GBP has 5 waves.
I think - down.
Picture below.
So you’re saying its similar to what happened on May 12th?