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Dragon Riders GBP/JPY

  • #25,201
  • Jul 3, 2017 10:16pm Jul 3, 2017 10:16pm
Thanks for the tip. Yes, I agree that 200SMA would give a confirmed direction of the trend.
  • #25,202
  • Edited 10:38pm Jul 3, 2017 10:27pm | Edited 10:38pm
Quoting LetsTrade
Thanks for the tip. Yes, I agree that 200SMA would give a confirmed direction of the trend.
You are welcome.

Another important tip : make sure the moving averages are in the correct order, for example the 50 moving average must be above the 100. And the 100 itself must be above the 200. When the price is above these 3 averages AND the averages are in the correct order (50, 100, 200) then the uptrend is even more meaningful, and vice versa for downtrends (in that case the 50 must be below the 100, and the 100 must be below the 200)..
  • #25,203
  • Jul 3, 2017 10:39pm Jul 3, 2017 10:39pm
If we break 146.94 should go to 147.33 on the 1 Hr
4hr is showing 148.55
from 148.12 we should hit 151.48 extended to 164.39..

That will be my summer trade 148.47 to 164.39
I'll pick up the crumbs don't need the whole pie
  • #25,204
  • Jul 3, 2017 10:56pm Jul 3, 2017 10:56pm
Quoting Quickiepip
If we break 146.94 should go to 147.33 on the 1 Hr 4hr is showing 148.55 from 148.12 we should hit 151.48 extended to 164.39.. That will be my summer trade 148.47 to 164.39
It is possible, yes.

After all GBP/JPY only made a 1220 pip move so far this year, so it still have a lot to cover, "and miles to go before it sleeps..." (like the poem says, well almost Lol)
  • #25,205
  • Jul 3, 2017 11:03pm Jul 3, 2017 11:03pm
may be I am the only one short
Attached Image
Exits == most important part of your strategy
  • #25,206
  • Jul 3, 2017 11:07pm Jul 3, 2017 11:07pm
Quoting Mr Breakout
{quote} It is possible, yes. After all GBP/JPY only made a 1220 pip move so far this year, so it still have a lot to cover, "and miles to go before it sleeps..." (like the poem says, well almost Lol)
Big risk but I think this trade is still in play... 5k account 1lot let it run...
Attached Image (click to enlarge)
Click to Enlarge Name: summertrade.png Size: 16 KB
I'll pick up the crumbs don't need the whole pie
  • #25,207
  • Jul 3, 2017 11:08pm Jul 3, 2017 11:08pm
Quoting edmun1388
may be I am the only one short {image}
What makes you say short?
I'll pick up the crumbs don't need the whole pie
  • #25,208
  • Jul 3, 2017 11:09pm Jul 3, 2017 11:09pm
Quoting Quickiepip
{quote} What makes you say short?
follow my own M15 strategy . bad or good follow also.
* every indicator show up ...my bad
Exits == most important part of your strategy
  • #25,209
  • Jul 3, 2017 11:14pm Jul 3, 2017 11:14pm
Am playing this pair for a move to targets 145.90-145.40 levels.
Broken below a rising wedge on hourly. waiting or 14ma to be tested as it drops out of the wedge. 146.70-146.95 SL levels.
  • #25,210
  • Jul 4, 2017 12:18am Jul 4, 2017 12:18am
GBP/AUD is really moving, looking for entry point...
  • #25,211
  • Jul 4, 2017 12:28am Jul 4, 2017 12:28am
Quoting Mr Breakout
GBP/AUD is really moving, looking for entry point...
That's right. Both GA and GN haven't turned back after having multiple tested their respective falling channels on hourly. The move should end by filling the gap from early June.
Glad to have had multiple long trade entries from 1.67's and 1.74's respectively.
  • #25,212
  • Jul 4, 2017 12:32am Jul 4, 2017 12:32am
Quoting edmun1388
may be I am the only one short {image}
Attached Image

ok now.
Exits == most important part of your strategy
  • #25,213
  • Jul 4, 2017 12:34am Jul 4, 2017 12:34am
Quoting edmun1388
{quote} {image} ok now.
lol
I'll pick up the crumbs don't need the whole pie
  • #25,214
  • Jul 4, 2017 12:35am Jul 4, 2017 12:35am
Quoting Mr Breakout
{quote} If USD/JPY and GBP/USD are going up at the same time, GBP/JPY has nowhere to go but up, no...? In fact it will increase faster than the yen or the cable, taken separately.
USD JPY = 112.97
GBP USD = 1.29398

GBP JPY = 112.97 x 1.29898 = 146.18

All currencies are priced relative to the Dollar. This is how the crosses are calculated.
Boxing clever since 76.
  • #25,215
  • Jul 4, 2017 12:43am Jul 4, 2017 12:43am
Quoting copi88
{quote} USD JPY = 112.97 GBP USD = 1.29398 GBP JPY = 112.97 x 1.29898 = 146.18 All currencies are priced relative to the Dollar. This is how the crosses are calculated.
Yes of course, but in this case we were more interested about their respective correlations and their relative rate of change.
  • #25,216
  • Jul 4, 2017 12:47am Jul 4, 2017 12:47am
Quoting Mr Breakout
Out GBP/JPY at 146.60, minus 20 pips (closing and reversing), the Yen is dragging the dragon down.
Out at 146.10, + 50 pips.
Total for the day : +30 pips (50 - 20).

Soon the London traders will reverse the whole freaking intraday range, I can feel it in my bones
  • #25,217
  • Jul 4, 2017 12:48am Jul 4, 2017 12:48am
Quoting Mr Breakout
{quote} Yes of course, but in this case we were more interested about their respective correlations and their relative rate of change.
Attached Image (click to enlarge)
Click to Enlarge Name: SP7vxM6.png Size: 205 KB
Boxing clever since 76.
  • #25,218
  • Jul 4, 2017 1:01am Jul 4, 2017 1:01am
Quoting copi88
{quote} {image}
Thanks.

Now watch out for the bear trap during London (daytraders only).
  • #25,219
  • Jul 4, 2017 1:11am Jul 4, 2017 1:11am
Quoting jolaus
{quote} That's right. Both GA and GN haven't turned back after having multiple tested their respective falling channels on hourly.
A good entry point for GBP/AUD would be long at 1.6950, if it's not already too late.
  • #25,220
  • Jul 4, 2017 1:22am Jul 4, 2017 1:22am
Quoting Mr Breakout
{quote} A good entry point for GBP/AUD would be long at 1.6950, if it's not already too late.
Agreed
Just my 2 cents worth
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