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Dragon Riders GBP/JPY

  • #24,901
  • Jun 27, 2017 11:32am Jun 27, 2017 11:32am
Quoting gespiri
{quote} This is a revised 4hr chart. My TP is now between 144.00-144.25 by today or tomorrow. Long term target of 158 - 164 by mid Q3. {image}
Out at 143.80. Waiting until price hits 142.64 or 142.19
Lost....
  • #24,902
  • Jun 27, 2017 11:45am Jun 27, 2017 11:45am
Quoting Mr Breakout
Watch out, it's going to bounce back to 142.45, don't ask me why sixth sense maybe.
And this is exactly what happened.
  • #24,903
  • Jun 27, 2017 11:46am Jun 27, 2017 11:46am
Quoting raphaelfx
I'm short. TP 139.00
Since you're in Canada I won't be too hard on you......

But how did you get the direction so wrong?

And seems like you're holding on?

Good luck, here's my tip, buy the Pivots

Attached Image (click to enlarge)
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It takes a lot for me to IGNORE you, but you can try.
  • #24,904
  • Jun 27, 2017 11:49am Jun 27, 2017 11:49am
Forgot the Pivot buy chart at London time

Attached Image (click to enlarge)
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It takes a lot for me to IGNORE you, but you can try.
  • #24,905
  • Edited 1:42pm Jun 27, 2017 12:14pm | Edited 1:42pm
Fading the rally now for a short term pullback off of 4H rally base drop. On the larger TF, still bullish on the pair. Final target is 142.65, 3 positions on.

USDJPY is near a strong drop base drop and GBPUSD is getting into the distal end of a daily supply zone.
  • #24,906
  • Jun 27, 2017 12:19pm Jun 27, 2017 12:19pm
close all buy.....wait for another opportunity...
Attached Image (click to enlarge)
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  • #24,907
  • Jun 27, 2017 12:46pm Jun 27, 2017 12:46pm
Quoting gespiri
{quote} Out at 143.80. Waiting until price hits 142.64 or 142.19
More scenarios....
If price hits 200EMA on 1hr chart, I buy big
If price hits gray line or first green line on 4 hr, I buy
Both seem to be hovering around the 141.92 - 142.15 level....SL when it close below that bottom trend line.
Attached Image (click to enlarge)
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Lost....
  • #24,908
  • Jun 27, 2017 1:47pm Jun 27, 2017 1:47pm
Quoting Erebus
{quote} Since you're in Canada I won't be too hard on you...... But how did you get the direction so wrong? And seems like you're holding on? Good luck, here's my tip, buy the Pivots {image}
Can you tell more about buy the pivots? I'm new at this
  • #24,909
  • Jun 27, 2017 2:11pm Jun 27, 2017 2:11pm
Not sure why the GBP/USD jumped 50 pips
  • #24,910
  • Jun 27, 2017 2:16pm Jun 27, 2017 2:16pm
Any news why all GBP pairs jumped?
  • #24,911
  • Jun 27, 2017 2:17pm Jun 27, 2017 2:17pm
Quoting Mr Breakout
Not sure why the GBP/USD jumped 50 pips
EURGBP was gaining to much, just a correction to correlate the two currencies again.
  • #24,912
  • Jun 27, 2017 2:22pm Jun 27, 2017 2:22pm
Hmmm...and this happened on London/Frankfurt close
  • #24,913
  • Jun 27, 2017 2:24pm Jun 27, 2017 2:24pm
Quoting molehead
Any news why all GBP pairs jumped?
Price blew through daily supply on GU which correlated with GJ. I got stopped out of my counter trend short for 0.5% loss.
  • #24,914
  • Edited 3:47pm Jun 27, 2017 2:33pm | Edited 3:47pm
Quoting taciho
{quote} EURGBP was gaining to much, just a correction to correlate the two currencies again.
That move went nowhere apparently. In fact it seems more like an exhaustion move (and a possible bull trap).
GBP/JPY is probably going to pullback, at least to the 38% Fib or so.
On the other hand EUR/USD seems to be unstoppable.
  • #24,915
  • Edited 4:18pm Jun 27, 2017 4:04pm | Edited 4:18pm
I think the real force currently behind GBP/JPY is the Yen.

On the 4h chart the USD/JPY completed a Head and Shoulders formation (test of the neckline included) and is now trending up.
If we apply the measured move principle, target is almost 300 pips higher (from the neckline).
And as you probably know, when the Yen is moving just get out of the way!

That means GBP/JPY could climb even higher the next few days/weeks (with a few pullbacks along the way), unless some bad financial events hit GBP/USD.
Attached Image (click to enlarge)
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  • #24,916
  • Jun 27, 2017 4:28pm Jun 27, 2017 4:28pm
H4
Over==>@144.500===>146.100
Below===>143.280===>142
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  • #24,917
  • Jun 27, 2017 5:08pm Jun 27, 2017 5:08pm
EUR and GBP went north in the last 15hrs so did everyone make about +100 pips? if not, why not?
You came here for the truth and let me unveil it for you
  • #24,918
  • Jun 27, 2017 5:23pm Jun 27, 2017 5:23pm
Quoting Erebus
{quote} Since you're in Canada I won't be too hard on you...... But how did you get the direction so wrong? And seems like you're holding on? Good luck, here's my tip, buy the Pivots {image}
I got the direction so wrong by being wrong.

There's only two though, you're either very right or very wrong.
  • #24,919
  • Jun 27, 2017 5:33pm Jun 27, 2017 5:33pm
Quoting raphaelfx
{quote} I got the direction so wrong by being wrong. There's only two though, you're either very right or very wrong.
You're not the only one... No worries you'll make it work.. I'm on plan D myself, and might have to revert to plan C if plan D doesn't work out...lol There is no plan E
I'll pick up the crumbs don't need the whole pie
  • #24,920
  • Jun 27, 2017 5:40pm Jun 27, 2017 5:40pm
Quoting Quickiepip
{quote} You're not the only one... No worries you'll make it work.. I'm on plan D myself, and might have to revert to plan C if plan D doesn't work out...lol There is no plan E
Well, I have something that is half working. Or I can say it works sometimes. As you can see that's not enough.

In that case my job is to figure out why it doesn't work the times that it didn't. So then I can fix the problem and evolve my strategy once again. This isn't my first rodeo, I've had so many losses before.

Now I'm currently reviewing what went wrong to enter the next setup with the changes made. Also my trading is proportional both ways. If I have gains, they are as big and as fast as the losses.
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