Dragon Riders GBP/JPY | Page 1234 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/JPY

Similar Threads

Enter The Dragon - GBP/JPY 2 replies

Info on the Borihei-Dragon Scalping System? 15 replies

The Dragon 441 replies

Scalping The Dragon 34 replies

***Dragon II*** 15 replies

Attachments: Dragon Riders GBP/JPY
Exit Attachments

Dragon Riders GBP/JPY

  • #24,661
  • Jun 22, 2017 3:27am Jun 22, 2017 3:27am
I have noticed that the Dragon moves with USD/JPY as well as GBP/USD.

Currently, in hourly candles both USD/JPY and GBP/JPY have been range bound and moving sideways. The pound has not moved much today. A move in GBP/USD will determine the direction of the dragon from now till the end of the American session. It is the combined effect of GBP/USD and USD/JPY that gives Dragon its dreaded volatility.

At least that is my observation. I am hoping for disagreements from the members.
  • #24,662
  • Jun 22, 2017 3:40am Jun 22, 2017 3:40am
Quoting Mccc
{quote} It should be a downtrend isn't it ?
Yes GBP/JPY is in a downtrend no matter what time frame we are using, from the monthly to the 5-min.
  • #24,663
  • Jun 22, 2017 3:51am Jun 22, 2017 3:51am
Quoting BabyDragon
Strong support at 140.46 Mr Breakout, the 40s range is a tough region to breakout, whether in upswing or down
Yep, a few bulls are still protecting that 140.50 area.

Don't worry, they will soon jump ship...
  • #24,664
  • Jun 22, 2017 4:19am Jun 22, 2017 4:19am
Quoting Mr Breakout
{quote} Yes GBP/JPY is in a downtrend no matter what time frame we are using, from the monthly to the 5-min.
Do you think this sinking ship will drag GBPUSD as well, or it should jump up due to Dollar weakness?
  • #24,665
  • Jun 22, 2017 4:30am Jun 22, 2017 4:30am
Quoting Puccini
{quote} Do you think this sinking ship will drag GBPUSD as well, or it should jump up due to Dollar weakness?
Keep in mind that GBP/JPY and GBP/USD are highly correlated, on the positive side (and GBP/JPY and USD/JPY even more).
That said it is not always easy to know who is really doing the dragging.
  • #24,666
  • Jun 22, 2017 5:16am Jun 22, 2017 5:16am
Scarily going wrong direction
  • #24,667
  • Jun 22, 2017 5:35am Jun 22, 2017 5:35am
dont really have time to chat during London session typically,
a picture is worth a million words, forget about telling me it isnt going to work,
focus on your own live trades and #1 preserve capital - its your #1 goal
then limit risk, leverage is not your friend, it magnifies your losses, until you are better than 50/50 wins to losses leverage is going against you.
TTFN
sorry edit updated image
Attached Image (click to enlarge)
Click to Enlarge Name: gjLONG1.JPG Size: 344 KB
  • #24,668
  • Jun 22, 2017 7:02am Jun 22, 2017 7:02am
The DUP and May looks like they may reach a deal after all it was report just over an hour ago... I guess this explains this crawl back up.
I'll pick up the crumbs don't need the whole pie
  • #24,669
  • Jun 22, 2017 8:02am Jun 22, 2017 8:02am
Quoting Mr Breakout
{quote} Keep in mind that GBP/JPY and GBP/USD are highly correlated, on the positive side (and GBP/JPY and USD/JPY even more). That said it is not always easy to know who is really doing the dragging.
maybe even better, if monitoring all JPY pairs
  • #24,670
  • Jun 22, 2017 8:11am Jun 22, 2017 8:11am
Still dancing on the pivot line 1hr.....don't forget about the ascending triangle.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 66 KB
Lost....
  • #24,671
  • Jun 22, 2017 8:20am Jun 22, 2017 8:20am
Quoting gespiri
Still dancing on the pivot line 1hr.....don't forget about the ascending triangle. {image}
could you tell me how did you plot the PP on ur chart?? is it some MQL4 file??
  • #24,672
  • Jun 22, 2017 8:25am Jun 22, 2017 8:25am
Quoting gespiri
Still dancing on the pivot line 1hr.....don't forget about the ascending triangle. {image}
Yes, still. But it is on the limit.
  • #24,673
  • Jun 22, 2017 8:33am Jun 22, 2017 8:33am
Hi all
All GBPJPY selling signals have been confirmed, and it is now retracing on H4 chart so it is better to get entry sell GBPJPY for another lower low today or tomorrow. Good luck
  • #24,674
  • Jun 22, 2017 8:34am Jun 22, 2017 8:34am
Quoting Abbi11
{quote} could you tell me how did you plot the PP on ur chart?? is it some MQL4 file??
I'm using a combination of Murray Math and Belkhayate. You can get those indicators if you look around FF.
Lost....
  • #24,675
  • Jun 22, 2017 8:47am Jun 22, 2017 8:47am
Quoting quangvision
Hi all All GBPJPY selling signals have been confirmed, and it is now retracing on H4 chart so it is better to get entry sell GBPJPY for another lower low today or tomorrow. Good luck
If it closes at 140 or below then I'll be convinced.
Lost....
  • #24,676
  • Jun 22, 2017 9:50am Jun 22, 2017 9:50am
Hi all,
It is a final call for shorting GBPJPY. Good luck to all
  • #24,677
  • Jun 22, 2017 9:59am Jun 22, 2017 9:59am
Quoting quangvision
Hi all, It is a final call for shorting GBPJPY. Good luck to all
wow. it has trickled down by 20 points since then. how did you know?
  • #24,678
  • Jun 22, 2017 10:03am Jun 22, 2017 10:03am
Quoting quangvision
Hi all, It is a final call for shorting GBPJPY. Good luck to all
What target you think we should set?
  • #24,679
  • Edited 11:06am Jun 22, 2017 10:05am | Edited 11:06am
Attached Image

hold long
Attached Image
Exits == most important part of your strategy
  • #24,680
  • Jun 22, 2017 11:04am Jun 22, 2017 11:04am
i think in dragon it does not matter whether one holds long or short. given enough time it will hit any t/p.

currently it does not seem to be in the mood to move in any direction and that is boring considering the moves it gave this week.

according to Mr Breakout it is supposed to go short. And edmun1388 says hold the long.

Lets see who dragon listens to.

although it never listens to anyone

GBP/USD is near its low and USD/JPY is nearer its high.

in hourly candles GBP/USD is range bound and so is USD/JPY

but for now, Dragon seems to be snoozing and itself range bound.

However, the Pound and Yen pairs are ranging between twenty points and the Dragon has more points in it.

I will sell at 141.10. T/P at 140.6 and buy again from 140.6 with t/p at 141.1

or probably it is the end of the week so neither the bulls nor the bears are increasing the impetus in any direction.
19 traders viewing now