Thread: Lets Talk GBP/JPY quotthe geppyquot

Already posted this in another thread but let me place it here with an upgraded version.

Always amaze me how accurate old lines (blue dotted) can be.

Notice how those 3 lowest descending (blue dotted) lines behaves like Dr. Andrews Pitchfork with lower and upper part behaves like S/R and middle line as magnet;

Originally Posted by ;

Already posted this in another thread but let me post it here with an upgraded version.

Always amaze me how accurate old traces (blue dotted) could be.

Notice how these 3 lowest descending (blue dotted) lines behaves just like Dr. Andrews Pitchfork with upper and lower component behaves such as S/R and middle lineup as bark;

Looks like a fantastic example of draw enough lines and they will need to be struck.

I only want the 1 line that turns price around for good or triggers a drop once lost for good.
What usefullness do occasionally, occasionally not a reaction lines have that aren't far enough to get a setup to sort?

Originally Posted by ;

Looks like a good instance of draw enough traces and they will need to be struck.

I only want the 1 line which turns price around for good or triggers a drop once lost for good.
What usefullness do occasionally, occasionally not a response lines have which are not far enough to get a setup to form?

This is just a continued angel out of earlier period on gbpjpy.

And the lines indied red have been used as pitchfork lines, trading extended on reduced median line and brief on upper median line.

Sometimes, occasionally not a response Well, provided that those lines provide me with adequate successful situations I don't concern if others view them as arbitrary.

Originally Posted by ;

... provided that those lines provide me with adequate powerful scenarios I don't concern if others view them as arbitrary.

Hey , Can you take those dotted Trades in Real Time? They look to me like hindsight.

Also, are such Lines Calculated or Hand Drawn?

Originally Posted by ;

Hey , Did you take those dotted Trades in Real Time? Quite frankly, they seem to me personally like hindsight.

Additionally, are such Lines Calculated or Hand Drawn?

Hello . I did take does 4 transactions marked with blue circles. Can you describe more from the standpoint how those lines may be intact ? I'm here as (nearly) everyone else to understand and improve.

I only posted those lines to share just how old lines could come into play again. I was wrong if the opposite is proved I'm not afraid saying hey.

They are hand drawn.

Originally Posted by ;

Hi . I did take does 4 transactions marked with circles. Can you describe more from the standpoint how these lines might be intact ? I'm here as (nearly) everyone else to understand and improve.

I see some reasoning for the Lower Red Line at it's origins but unless the Upper Red Line is simply plotted as 'Parallel' and hung around the prior High dangerous btw I see no validity on online. ie. You're currently taking Short Positions based One Aged Spike High.

Originally Posted by ;

I only posted those traces to share how old lines could come into play. If the opposite is proved I'm not afraid saying hello, I was wrong.

Cool, then we could start an open minded discussion with this and, hopefully, both find something.

Originally Posted by ;

They're drawn.

OK. Notice that they are Not Brick Walls more like hay bales and consequently Price only Respects them when it doesn't feel like Fighting. Quite Significant, when Trading TL to know if it Broken or is currently Holding. This involves looking at recent guess what, Price Action to determin potential Risk Prior to accepting the Trade.
Notice that, although the Price Appears to be following your Upper Red, It's in fact up against Flat Resistance ie. Reluctance to be Valued Higher from back in your Magnet

This could probably be more visable with no lines in the way.

Originally Posted by ;

I see some reasoning for the Lower Red Line at it's origins but unless the Upper Red Line is simply plotted as 'Parallel' and hung around the previous High treacherous btw I see no validity to online. ie. You're currently taking Positions based One Aged Spike High.
Cool, then we can start an open minded discussion on this and, hopefully, both learn something.


OK. Notice that they are Not Brick Walls much more like hay bales and consequently Price only Respects them if it does not feel as though Fighting. Quite Important, when Trading TL to know if it Broken or is Holding. This involves considering recent guess what, Price Action to determin possible Risk Before accepting the Trade.
Notice that, Even Though the Price Seems to be following your Upper Red, it is in fact up against Flat Resistance ie. Reluctance to be Valued Higher from back at your Magnet

This would probably be more visable with no traces in the way.

Thank you for your detailed explanation. Seems like I have a lot to learn from you. Few have spoken with so much expertise behind their words in regards to this field (correct me if I am wrong, might just be an easy excuse for you). Enough butt-kissing !

By saying flat resistance did you mean that it literally ? To me, a line would make more sense from my perspective, or do I misunderstand you ? See attached chart.

Seems as though I must be way more critical in my own lines when drawn out of historical events as keep it simple is always the winner

Glad you (men) pointed out it, losing crucial judgment over own analyzes is one massive step backward.

In this example we are taking a look at the Pound/Yen but it might be Any Traded Vehicle.

1: Mar 13th - 14th The Pound is not worth greater than 205 Yen but It Is worth greater than 203 Yen.

2: Mar 16th - 18th Pennant. The epitome of a Market Begging to Trade for a Reason.

3: Mar 19th - 21st The Pound is not worth greater than 198 Yen but It Is worth greater than 195 Yen.

Originally Posted by ;

In this example we're looking at the Pound/Yen but it might be Any Traded Vehicle.

1: Mar 13th - 14th The Pound is not worth More than 205 Yen but It Is worth More than 203 Yen.

2: Mar 16th - 18th Pennant. The epitome of a Market Begging to Trade for a Reason.

3: Mar 19th - 21st The Pound is not worth More than 198 Yen but It Is worth More than 195 Yen.

Volumes have pattern (falling through entire formation and then increase with greater peaks during breakout) but it is quite uncommon so I know that the skeptic. This is the method volumes are used by me, as an extra confirmation once I see a pattern within volumes.

A number of my favourite patterns to exchange is pennants. They do an excellent job marking moves that are midway.

Which are these 3 formations conveying ?

Well, looking with an very simple eye, 1 and 3 provide us with plain S/R and nr 2 with pennant, as you state. Where you diggin for something more ?

I'm not diggin for whatever. Just attempting to open your brain to Looking Out the Window to See Out the Window opposed.

There's Nothing Wrong with your current Style. You Trade it diligently because you see fit. I interjected since I noticed a 'potential' flaw on your 'Installation'. apologies for the intrusion on the thread

Just trying to spare you a few pips.
(Volume) In the current FX Market, ONLY reflects the mentality of all of the others that Chose to deposit with your Borker. AND It will change even if the Price does not.

Research Open Interest keep your discoveries on your pouch.