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Dragon Riders GBP/JPY

  • #27,461
  • Edited 6:48am Oct 26, 2017 6:32am | Edited 6:48am
TEST small lot long [ risky]. --- fail -6 pips .
Exits == most important part of your strategy
  • #27,462
  • Oct 26, 2017 7:34am Oct 26, 2017 7:34am
Quoting edmun1388
TEST small lot long [ risky]. --- fail -6 pips .
Did you catch that drop to 149.8?
Never Ever Give Up
  • #27,463
  • Oct 26, 2017 8:03am Oct 26, 2017 8:03am
A Bit early to drop yet. It will defo test the upside again. Only after that I can consider shorting it.
  • #27,464
  • Edited 10:09pm Oct 26, 2017 9:59pm | Edited 10:09pm
At 75% retrace? Worth taking the risk but this is not my normal trade (Usually I wait for a break above/below certain price). So this one I'm taking it on my high risk account. Price haven't broken above the descending triangle yet and today is Friday. Not sure if it's going to range and do nothing. If it breaks above i'm probably good to go. If not and it breaks below the arrow I'm screwed. Trade is a trailing stop so as price goes up so is the stop.

Hope I'm right Might take a few days to get there risk reward 3:1

Kim better not fire a missile...
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  • #27,465
  • Edited 11:44pm Oct 26, 2017 11:31pm | Edited 11:44pm
Quoting maflip
At 75% retrace? Worth taking the risk but this is not my normal trade (Usually I wait for a break above/below certain price). So this one I'm taking it on my high risk account. Price haven't broken above the descending triangle yet and today is Friday. Not sure if it's going to range and do nothing. If it breaks above i'm probably good to go. If not and it breaks below the arrow I'm screwed. Trade is a trailing stop so as price goes up so is the stop. Hope I'm right Might take a few days to get there risk reward 3:1 Kim better not fire...
Good job brother , but why not put stop loss at previous H4 bar low ?
* H4 green bar not valid if price go below low of that bar .
Exits == most important part of your strategy
  • #27,466
  • Oct 27, 2017 12:57am Oct 27, 2017 12:57am
Quoting edmun1388
{quote} Good job brother , but why not put stop loss at previous H4 bar low ? * H4 green bar not valid if price go below low of that bar .
Yeah bro but for this trade that stop is too tight. This one is not an intraday trade.
  • #27,467
  • Oct 27, 2017 1:58am Oct 27, 2017 1:58am
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we can see any strong rejection should see 400 test I would think
  • #27,468
  • Oct 27, 2017 3:06am Oct 27, 2017 3:06am
Are we seeing a breakout of daily trendline?
Never Ever Give Up
  • #27,469
  • Edited 3:26am Oct 27, 2017 3:15am | Edited 3:26am
H4 green bar show litle up , but M15 still as bear and under kumo. [ tell this 4 hours ago]
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Exits == most important part of your strategy
  • #27,470
  • Oct 27, 2017 3:54am Oct 27, 2017 3:54am
Hi!

I've commented this at Lock's Cable Corner, but I think it's also true to this pair:

Quoting hathor
Hi! In my opinion GBP weakness is coming in longer term view. GbpUsd target 1.27xxx; GbpJpy target under 135.xxx So my plan is "the higher I can sell - the better"...time will tell... Regards, h.
Quoting hathor
{quote} positive GDP news gave good short entry possibility on Wednesday and Thrusday night...which makes that top important from retail trader view: both Europe+America and both Asia+Australia retail traders were trapped imho...lets see what happens next.
Good luck all!
f(z)=z2+c
  • #27,471
  • Oct 27, 2017 5:10am Oct 27, 2017 5:10am
Quoting maflip
At 75% retrace? Worth taking the risk but this is not my normal trade (Usually I wait for a break above/below certain price). So this one I'm taking it on my high risk account. Price haven't broken above the descending triangle yet and today is Friday. Not sure if it's going to range and do nothing. If it breaks above i'm probably good to go. If not and it breaks below the arrow I'm screwed. Trade is a trailing stop so as price goes up so is the stop. Hope I'm right Might take a few days to get there risk reward 3:1 Kim better not fire...
I just got back. So this sucker got stopped out. There is a trend line there but I would caution going long for now mid term. There are two huge green bars at the H4 that just got blasted. This could mean the goons might have changed their mind and might possibly target the 148 area again. Earlier I took a long with small position because GU is roving around daily support and I think they might reverse it there. But I was wrong. This week GJ made a new weekly low and if we trade below that next week we might go down some more next week and threaten the 148 area.
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  • #27,472
  • Oct 27, 2017 12:57pm Oct 27, 2017 12:57pm
I think its so simple to forecast cross like this pair. Just have an opinion on GBPUSD and USDJPY, then you will find the next move of GBPJPY.

Lets say i forecast Cable will drop to 1.3000 and USDJPY 113.

1.3000 x 113 = 146.9

So you have 3 "tools" to forecast GBPJPY. If you will have a good signal on 2, then you can find answer for 3. Its math

A x B = C
C = B/A
B = C/A etc..

Hope it will help someone to cut loses))
Think like an investor, Act as a speculator. Ferid H.
  • #27,473
  • Oct 28, 2017 1:34pm Oct 28, 2017 1:34pm
GBPJPY Daily
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  • #27,474
  • Edited Oct 30, 2017 12:10am Oct 29, 2017 11:38pm | Edited Oct 30, 2017 12:10am
Trial long.
* follow take own risk , H4 still as bear , this is the condition that not meet.
+--------------------------------------------------------------------------------+
+ Your biggest enemy in trading is going to be a directional bias. +
+--------------------------------------------------------------------------------+
Exits == most important part of your strategy
  • #27,475
  • Oct 29, 2017 11:39pm Oct 29, 2017 11:39pm
Quoting edmun1388
Trial long.
Nice to see you here again, Edmund.
  • #27,476
  • Oct 30, 2017 12:45am Oct 30, 2017 12:45am
Quoting Feliks
I think its so simple to forecast cross like this pair. Just have an opinion on GBPUSD and USDJPY, then you will find the next move of GBPJPY. Lets say i forecast Cable will drop to 1.3000 and USDJPY 113. 1.3000 x 113 = 146.9 So you have 3 "tools" to forecast GBPJPY. If you will have a good signal on 2, then you can find answer for 3. Its math A x B = C C = B/A B = C/A etc.. Hope it will help someone to cut loses))
Awesome. Thanks Feliks
Never Ever Give Up
  • #27,477
  • Oct 30, 2017 12:47am Oct 30, 2017 12:47am
Quoting edmun1388
Trial long. * follow take own risk , H4 still as bear , this is the condition that not meet. +--------------------------------------------------------------------------------+ + Your biggest enemy in trading is going to be a directional bias. + +--------------------------------------------------------------------------------+
Provided 149.5 is broken. Ranging at the moment
Never Ever Give Up
  • #27,478
  • Oct 30, 2017 12:48am Oct 30, 2017 12:48am
Quoting Feliks
I think its so simple to forecast cross like this pair. Just have an opinion on GBPUSD and USDJPY, then you will find the next move of GBPJPY. Lets say i forecast Cable will drop to 1.3000 and USDJPY 113. 1.3000 x 113 = 146.9 So you have 3 "tools" to forecast GBPJPY. If you will have a good signal on 2, then you can find answer for 3. Its math A x B = C C = B/A B = C/A etc.. Hope it will help someone to cut loses))
lol yes but alot of people here are mostly wrong forecasting on one pair let along forecast it on two pairs heh heh.
  • #27,479
  • Oct 30, 2017 12:49am Oct 30, 2017 12:49am
Quoting maflip
{quote} lol yes but alot of people here are mostly wrong forecasting on one pair let along forecast it on two pairs heh heh.
Hey my lil biatch.
  • #27,480
  • Oct 30, 2017 12:54am Oct 30, 2017 12:54am
Me staying away from GJ at the moment. I'm currently looking at gold. Last week though UJ and Gold reversed after the news release. So I'm thinking maybe UJ down gold up. But if I let them decide here it is.

If gold to the upside maybe we'll retest 1280 on it again.
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