Thread: Dragon Riders GBP/JPY

I opened a short position at 155.00 last night and I am considering whether I should shut it now or keep it open on a more long term basis. It might reach 152.00.

Originally Posted by ;

I started a short position at 155.00 last night and I am contemplating whether I should shut it now or keep it open on a long term basis. It might reach 152.00.

It may also rebound strongly after equities start to rally...

Gbp/Jpy opened the afternoon about the 50 day SMA, hope we see longs.

Seems like There'll be more downside

Originally Posted by ;

quote It could also bounce strongly once equities begin to rally again...

It did collapse to 152.00 as I thought it would, although I shut the short place higher than that.

There might be more drawback, is dependent on BOE this week and equities

Originally Posted by ;

there may be more downside, depends on BOE this week and equities

We will see, so far it is only formed a triple base over 151.25 which isn't a fantastic sign for a depreciation.

Originally Posted by ;

quote You could be right. Formation can be happened. Do you have a deteailed chart?

Check the H4 time period and you'll see the triple bottom at 151.25.
Whether it was due to it due to the BoE rate decision the pair rallied today.

I'm into buying if it moved under 150.7. I feel it s going to there.

Originally Posted by ;

I'm buying if it moved below 150.7. I feel it s going to you personally.

It did move there, but I am not seeing any signal for a rally so far.