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Dragon Riders GBP/JPY

  • #26,881
  • Oct 3, 2017 2:53am Oct 3, 2017 2:53am
Long term analysis does indicate this pair to go up more but for today, I am looking at shorting to 147 area.

Price was ranging for several days, it finally broke the range with a solid bearish candle and just retested and rejecting resistance from below.

Simple Price action.
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  • #26,882
  • Oct 3, 2017 3:59am Oct 3, 2017 3:59am
Quoting fork-forex
Long term analysis does indicate this pair to go up more but for today, I am looking at shorting to 147 area. Price was ranging for several days, it finally broke the range with a solid bearish candle and just retested and rejecting resistance from below. Simple Price action. {image}
Lets hold this... target 147,5
  • #26,883
  • Oct 3, 2017 8:32am Oct 3, 2017 8:32am
i still favor longs.
  • #26,884
  • Oct 3, 2017 8:34am Oct 3, 2017 8:34am
Quoting Venomousssss
i still favor longs.
Most certainly hope so, as I am short on eurgbp.
  • #26,885
  • Oct 3, 2017 1:58pm Oct 3, 2017 1:58pm
Hey guys, it's been ages that I don't post here or anywhere on FF, this is one of my fav pairs and after I spotted a text book King's Crown formation, I shorted near the right tip of the crown with initially 40 pips stop or 2.6% risk, going after a potential 500 pips gain or 32% gain, it's a great risk x reward ratio, now price moved over 200 pips on my way I moved my stop and now it's a risk off trade, so far it's working pretty well. On the daily TF is showing oversold conditions, that's my only concern, but the downtrend is intact. My ultimate target is at 146.26. Take care everyone.
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  • #26,886
  • Oct 3, 2017 3:31pm Oct 3, 2017 3:31pm
Gj will go down...
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  • #26,887
  • Oct 3, 2017 3:45pm Oct 3, 2017 3:45pm
Quoting Fx 35
Hey guys, it's been ages that I don't post here or anywhere on FF, this is one of my fav pairs and after I spotted a text book King's Crown formation, I shorted near the right tip of the crown with initially 40 pips stop or 2.6% risk, going after a potential 500 pips gain or 32% gain, it's a great risk x reward ratio, now price moved over 200 pips on my way I moved my stop and now it's a risk off trade, so far it's working pretty well. On the daily TF is showing oversold conditions, that's my only concern, but the downtrend is intact. My ultimate...

Nice trade so far.
  • #26,888
  • Oct 3, 2017 4:35pm Oct 3, 2017 4:35pm
Quoting Mr.yen
Gj will go down... {image}
Based on...technicals alone im guessing?

Long term technicals point north on my chart..price action shows a large break of range up.. and on the weekly I see only inside bars in this down trend..I vote bear trap and still target 160 or higher.
  • #26,889
  • Oct 3, 2017 7:53pm Oct 3, 2017 7:53pm
before go to 160.. i 'will make some pips from short ,
  • #26,890
  • Oct 4, 2017 3:10am Oct 4, 2017 3:10am
GJ will going down... hard... so hard wkwk
TP 1: 147.5
TP 2: 146.5
Hopefully it will make it... aamin
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  • #26,891
  • Edited 7:08am Oct 4, 2017 6:11am | Edited 7:08am
3 min to long, good luck

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Exits == most important part of your strategy
  • #26,892
  • Edited 8:02am Oct 4, 2017 7:46am | Edited 8:02am
My reason for long is more focus on gbp long while I suspect a ranging jpy or 114 target.
  • #26,893
  • Oct 4, 2017 11:31am Oct 4, 2017 11:31am
I short
Exits == most important part of your strategy
  • #26,894
  • Oct 4, 2017 11:48am Oct 4, 2017 11:48am
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just watch incase it goes to 150.10 then if so could be a bigger short trade
  • #26,895
  • Oct 4, 2017 11:57am Oct 4, 2017 11:57am
Took profit on the longs with very few pips..sitting here staring at this bullish flag and thinking maybe the false break to 148.36 before a shot to the sky is needed.. both bulls and bears likely want it..I have a pending long there and will keep GU longs. Might take one to the dome for longing gu here but my hope is that it only touches 1.3232 before going to up roughly toward 1.3450
  • #26,896
  • Oct 4, 2017 12:03pm Oct 4, 2017 12:03pm
going up to retest 150.100 or...

retest the bottom at 149.210 to retest 150.100
Just 20 pips a day to riches
  • #26,897
  • Oct 4, 2017 12:08pm Oct 4, 2017 12:08pm
Will see if yellen says anything nutty here to break it up a bit..but more likely to be a quick small whip saw if anything at all before finding its way to current position.
  • #26,898
  • Oct 5, 2017 12:11am Oct 5, 2017 12:11am
Quoting edmun1388
I short
after 12 hours
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Exits == most important part of your strategy
  • #26,899
  • Oct 5, 2017 12:24am Oct 5, 2017 12:24am
Quoting RondaRousey
If you have been shorting the last few days, congrats! Anyone up over 100 pips a trade?
no, but I booked 95 on some...
Look Sharp/Trade Tight
  • #26,900
  • Oct 5, 2017 12:33am Oct 5, 2017 12:33am
Gj still drop..
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