GU has hit it's target and GJ at resistance UJ is still going down. Make a decision quick. What to do what to do?If you short here. Keep a close eye on UJ. If it reverses up. Boom this thing is going to go up fast. {image}
Dragon Riders GBP/JPY
- #26,224
- Jul 31, 2017 11:09am Jul 31, 2017 11:09am
- Joined Mar 2013 | Status: Trader | 6,512 Posts
{quote} Fair comment, but i choose my zones by following the rules like it should be a fresh zone and by seeing how price left the zone and how long it stayed inside the zone i.e the base candles. Zone traders dont believe in indicators as such. I do look at emas never the less. when i get s/o on my set up then i do evsluate the value of a breakout and trade that as well but that sint my forte.☺
Sounds good if that's what works for you. 
- #26,226
- Jul 31, 2017 2:40pm Jul 31, 2017 2:40pm
Pfff GBPJPY just keeps being pushed down, first the rise in EURGBP and now the drop in usdjpy, I wonder if it really has any momentum at all, we just have to wait and see what GBPUSD has for us these coming days.
It has been very indecisive indeed. But i am looking at the following:
Downtrend still looks valid to me, just retracement showing from moves down. I do strongly believe that the next hurdle to take on the downside will be 144.30 (around 61.8 Expansion when looking at the bigger (4h) picture. This level is close to the low of July 24th and since it bounced heavily, expect some buying and taking profits of the traders holding Sell trades.. Today it moved to the 50% retracement level to the point.....!!
The lines do cross when looking at trendlines and it seems direction will be determined for the coming period??
My outlook on the market changed since yesterday; i am keeping those scenarios in place though. Just trying to learn everyday and understand why market moves in the direction it does (going to do). However i feel that fundamentals and important news/political events are just one hurdle too far for now. First focus on the technical side... If any big news event does move the market, i am sure to read it here (before or after haha)..
Contributions and market outlooks which followed after my post are very helpfull to getting in grips with the way different people look at the market
So thank u all very much!!
- #26,227
- Jul 31, 2017 5:19pm Jul 31, 2017 5:19pm
- | Membership Revoked | Joined Mar 2017 | 2,260 Posts
if you my trade,My-post analysis, subscribed to ME
- #26,228
- Jul 31, 2017 8:08pm Jul 31, 2017 8:08pm
hello riders. here is what I am looking at today. we have high impact news 1hr 30min after london open.
let us see what Mr market has in store for us today... my bias long
It is not over until I win
- #26,231
- Jul 31, 2017 9:46pm Jul 31, 2017 9:46pm
- Joined Nov 2009 | Status: Trader | 2,756 Posts
stop loss once hit, short may trigger
Exits == most important part of your strategy
- #26,232
- Jul 31, 2017 9:51pm Jul 31, 2017 9:51pm
- Joined Mar 2013 | Status: Trader | 6,512 Posts
{image} stop loss once hit, short may trigger
Worth a shot, just be careful. They tested it four times since last Friday and it failed. But, my gut feeling is if it's tested 5th time it's gonna blow up to the upside. Just my gut feeling.
- #26,233
- Jul 31, 2017 9:55pm Jul 31, 2017 9:55pm
- Joined Nov 2009 | Status: Trader | 2,756 Posts
{quote} Sup bro. Pivot trader now eh? Jumping ahead huh
Exits == most important part of your strategy
- #26,235
- Edited 10:33pm Jul 31, 2017 10:02pm | Edited 10:33pm
- Joined Mar 2013 | Status: Trader | 6,512 Posts
- #26,238
- Jul 31, 2017 11:44pm Jul 31, 2017 11:44pm
- Joined Nov 2009 | Status: Trader | 2,756 Posts
{quote} That's a long shadow ! hahahaha
Exits == most important part of your strategy