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Dragon Riders GBP/JPY

  • #24,701
  • Jun 22, 2017 3:40pm Jun 22, 2017 3:40pm
On the 1h chart that long descending channel is still holding up well (see chart).

The first breakout to the upside failed, but now we have a second possible breakout to the upside!
In other words we have a "first train hiding the second train" type of situation here.

A clear breakout above 141.80 could very well send the Dragon higher and higher...

Just something to keep in mind.
Attached Image (click to enlarge)
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  • #24,702
  • Jun 22, 2017 6:40pm Jun 22, 2017 6:40pm
Market is asleep.

Maybe calm before the storm?
  • #24,703
  • Jun 22, 2017 7:26pm Jun 22, 2017 7:26pm
Demand zones are being created and respected, while supply zones are being violated. My bet is up up up now. Barring some sudden catastrophic event.
  • #24,704
  • Jun 22, 2017 10:45pm Jun 22, 2017 10:45pm
SL < 10 pips test.
Attached Image (click to enlarge)
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Exits == most important part of your strategy
  • #24,705
  • Jun 23, 2017 6:59am Jun 23, 2017 6:59am
@Mr Breakout, I agree, a break and close on M30 above 141.72 may be the start of it...
  • #24,706
  • Edited 8:34am Jun 23, 2017 7:16am | Edited 8:34am
Time
====
07:30 1r,2u,3u long only
07:45 1d,2u,3u long only
08:00 1d,2ri,3u no short
08:15 1d,2r,3u no short
08:30 1d,2r,3u no short
08:45 1d,2r,3u
09:00 1r,2r,3u
09:15 1r,2r,3u
09:30 1d,2d,3r < -- prepare to short but not yet


* this is my real M15 system that tracking trending period for GBPJPY , once all d or all u , will be trending from 50 ->200 pips

=======
r : range ; u : up; d : down .
( 2u && 3u ) long only
( 2d && 3d ) short only
Exits == most important part of your strategy
  • #24,707
  • Jun 23, 2017 10:06am Jun 23, 2017 10:06am
Target 142.00 now?
  • #24,708
  • Jun 23, 2017 10:39am Jun 23, 2017 10:39am
Today USD went down so GBP went up pushing dragon above. However, USD/JPY is making support at 111.30 i.e. resisting the loss in USD. it is a tug of war now.

If the support holds then GBP/JPY will go futher up.
  • #24,709
  • Jun 23, 2017 10:57am Jun 23, 2017 10:57am
Attached Image
Here's the thinking from my bud Robby
  • #24,710
  • Jun 23, 2017 11:39am Jun 23, 2017 11:39am
I'll throw down my 0.02$ on the dragon.
Attached Image (click to enlarge)
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  • #24,711
  • Jun 23, 2017 11:46am Jun 23, 2017 11:46am
Quoting moebius
@Mr Breakout, I agree, a break and close on M30 above 141.72 may be the start of it...
Hi Moebius,

In fact if you look closely at my chart the breakout to the upside started earlier, at 141.00.

Once again, the most important thing to remember here is that we should always trade the market, not our little personal opinions.
I was almost sure the Dragon would go down and yet it went up.

The ability to constantly adapt (and react) to new market information is what trading is all about.

It is also not about being right or wrong, but about making money in the long run.
  • #24,712
  • Jun 23, 2017 12:08pm Jun 23, 2017 12:08pm
when all JPY pairs move in sync, in same direction, then there is a trend, now there is not, usd and cad down and others up, it is like trading if yen is weak or strong,
and very easy to see
m15 what I am monitoring, I think that is best for daytrading, anyways, have fun
  • #24,713
  • Jun 23, 2017 12:16pm Jun 23, 2017 12:16pm
and days like this, you can scalp, li have done that all day, now closing gbp shorts 23 and 10, and some shorts aud and nzd
easiest trading
  • #24,714
  • Edited 9:11pm Jun 23, 2017 6:53pm | Edited 9:11pm
"Thank God it's Friday", like the famous movie from the late 70's
http://tinyurl.com/ThankGoodItsFriday


Some traders are going to celebrate their winnings this weekend, while others are probably licking their wounds as we speak.

Such is life.

But remember folks, each losing trade is simply another opportunity to learn this crazy trading business...

Have a good weekend all, study those charts quietly and get ready to make some money next week.
  • #24,715
  • Jun 24, 2017 5:47am Jun 24, 2017 5:47am
ek. [/quote]
5-3 votes in favour of rate hike sent GJ up 300 pips in less than 24 hrs. Then Carmey came out on last yuesday and said there is no case for rate hike due to political and economical uncertainties market went down 250 pips same day queen said something and votes became 4-4 market went up 170 pips same day during us session it came down 70 odd pips, so on and so forth. No one can predict anything because of the diff variables but one can read charts and charts are saying 138.xx after 142.8x. 142.8x is done now its time for 138.xx or even 135.xx both pound and yen are weak currency. Its a double whammy the day gj falls from the cliff it should be 400+ pips drop in a day...☺..thats what i think.
  • #24,716
  • Jun 24, 2017 5:11pm Jun 24, 2017 5:11pm
H4
[email protected]====>142.524=====>143.565
Below===>@140.345====>139.950====>138.284
Attached Image (click to enlarge)
Click to Enlarge Name: h4.png Size: 65 KB
if you my trade,My-post analysis, subscribed to ME
  • #24,717
  • Edited 8:24pm Jun 24, 2017 8:11pm | Edited 8:24pm
Quoting nesta
H4 [email protected]====>142.524=====>143.565 Below===>@140.345====>139.950====>138.284 {image}
Nesta, do you truly believe that putting 3000 different indicators/lines on your chart will help you make money?
Keep it simple my friend, keep it simple, profitable trading does not have to be complicated.

In fact you can earn a nice living with zero indicator/line, just pure price action...
  • #24,718
  • Jun 24, 2017 8:24pm Jun 24, 2017 8:24pm
Quoting Mr Breakout
{quote} Nesta, do you truly believe that putting 3000 different indicators/lines on your chart will help you make money? Keep it simple my friend, keep it simple, profitable trading does not have to be complicated. In fact you can earn a nice living with zero indicator, just pure price action...
If anyone would get a total priceaction of money.
So why do all these systems and indicators and strategies test why?
Thank you for your kind attention and gratitude.
if you my trade,My-post analysis, subscribed to ME
  • #24,719
  • Jun 24, 2017 8:39pm Jun 24, 2017 8:39pm
Quoting nesta
{quote} If anyone would get a total priceaction of money. So why do all these systems and indicators and strategies test why? Thank you for your kind attention and gratitude.
Hello again,

I am not saying that indicators, pivot points, support/resistance lines, trendlines, etc... do not work, it's just that your chart is almost saturated with all kinds of indicators and lines.

This creates confusion most of the time.

However, if you are still able to make sound trading decisions in that context then good for you, all my respect.

Cordially.
  • #24,720
  • Jun 25, 2017 7:06am Jun 25, 2017 7:06am
Quoting Mr Breakout
{quote} Hello again, I am not saying that indicators, pivot points, support/resistance lines, trendlines, etc... do not work, it's just that your chart is almost saturated with all kinds of indicators and lines. This creates confusion most of the time. However, if you are still able to make sound trading decisions in that context then good for you, all my respect. Cordially.
Well clearly nesta can make sound trading decisions. Look at his chart and then his call. If it goes up then this yhis and this and if goes down then this this and this. All u need to do now is mint money.....difficult part of TA and FA done.........!!
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