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Dragon Riders GBP/JPY

  • #27,621
  • Edited 10:00am Nov 7, 2017 9:39am | Edited 10:00am
Lot's of indecision but there is a broadening pattern. This pattern is a grid traders nightmare (The death trade) But once it picks a direction it can move 3x it's range. So far it whipsaw 5x already and normally it picks a direction at the 4th and sometimes it does it at the 6th try but is rare.

No mid term trading for me until they pick a direction for this shit but it seems favoring the downside for now due to the 5th spike. We will see. So far I've only been hitting this intraday. But I've been trading more gold and GU lately.

Just my 2 cents...
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  • #27,622
  • Nov 7, 2017 9:52am Nov 7, 2017 9:52am
[quote=maflip;10468695]Lot's of indecision but there is a broadening pattern. This pattern is a grid traders nightmare (The death trade) But once it picks a direction it can move 3x it's range. So far it whi....”

nice graphic, however if you see the path from point 3 to 4 (there are fluctuations in the overall upmove) , it can also demonstrate what might happen here, and it might go upwards.
Just a thought
  • #27,623
  • Nov 7, 2017 9:53am Nov 7, 2017 9:53am
Quoting Fxli
{quote} still test donw trend if drop more 50 pips down then we push down 200 pips
I got stop loss hit with that short , may cause by my stop loss too tight when entry time is near M30 stochastic oversold [ bounce up little] , but normally if my signal is correct , will give 50 -200 pips/trade.
Exits == most important part of your strategy
  • #27,624
  • Nov 7, 2017 9:55am Nov 7, 2017 9:55am
[quote=FKhan;10468760]
Quoting maflip
Lot's of indecision but there is a broadening pattern. This pattern is a grid traders nightmare (The death trade) But once it picks a direction it can move 3x it's range. So far it whi....” nice graphic, however if you see the path from point 3 to 4 (there are fluctuations in the overall upmove) , it can also demonstrate what might happen here, and it might go upwards. Just a thought
Yes sometimes it can go for a 6th spike it doesn't happen a lot though. At most they pick it at the 4th spike. If it does happen and they hit it for the 6th try then the longs will party. For me I just go with the flow.
  • #27,625
  • Nov 7, 2017 9:58am Nov 7, 2017 9:58am
good looking support near 149.30ish, might give it a go if we down there in the next hour...
Attached Image (click to enlarge)
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Look Sharp/Trade Tight
  • #27,626
  • Nov 7, 2017 9:59am Nov 7, 2017 9:59am
Quoting PayTheLimit
good looking support near 149.30ish, might give it a go if we down there in the next hour... {image}
Yes , agree , H4 signal.
Exits == most important part of your strategy
  • #27,627
  • Nov 7, 2017 10:01am Nov 7, 2017 10:01am
Just when I thought the bulls lost the battle.....
Never Ever Give Up
  • #27,628
  • Edited 12:31pm Nov 7, 2017 11:37am | Edited 12:31pm
H4 is down to me , good luck to me.or I am alone
* look like I am the only one short sad face
Exits == most important part of your strategy
  • #27,629
  • Nov 7, 2017 1:25pm Nov 7, 2017 1:25pm
Quoting edmun1388
H4 is down to me , good luck to me.or I am alone * look like I am the only one short sad face
I hope ur shorts get u benjamins , but after i get my 151
  • #27,630
  • Nov 7, 2017 2:28pm Nov 7, 2017 2:28pm
Quoting FKhan
{quote} I hope ur shorts get u benjamins , but after i get my 151
already closed with -12.today bad day to me.
Exits == most important part of your strategy
  • #27,631
  • Nov 8, 2017 12:32am Nov 8, 2017 12:32am
My GJ play for today. Gonna let the market decide. It's best if H4 close above below the fractal.

I think it's in the right area now for a decision... Well see...
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  • #27,632
  • Nov 8, 2017 1:48am Nov 8, 2017 1:48am
My ass is in short. If H4 close below this fractal I might even add. Mental stop just above the H4 breakout bar. Minimum risk vs reward 2:1.
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  • #27,633
  • Nov 8, 2017 2:10am Nov 8, 2017 2:10am
Who is riding the short train. @maflip what is your profit target, 149?
  • #27,634
  • Edited 4:27am Nov 8, 2017 2:14am | Edited 4:27am
Tp1 149.451
tp2 148.690
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+--------------------------------------------------------------------------------+
+ Your biggest enemy in trading is going to be a directional bias. +
+ If a pattern does not make sense to you , don't trade it. +
+--------------------------------------------------------------------------------+
Exits == most important part of your strategy
  • #27,635
  • Nov 8, 2017 2:34am Nov 8, 2017 2:34am
Quoting DwainUK
Who is riding the short train. @maflip what is your profit target, 149?
If you are not greedy 149.25 that's my 1:1 target 2:1 at 148.98. If extremely greedy and if they break below the 5th wave of this spike 146.66 hah hah. But you gonna have to be patient for that it's a big pattern.
  • #27,636
  • Nov 8, 2017 2:36am Nov 8, 2017 2:36am
I'm just a poor boy I don't know shit.

I just let the market decide.

Speaking of which time for some music hah hah. Almost to 1:1 of my target.

Inserted Video
  • #27,637
  • Nov 8, 2017 2:54am Nov 8, 2017 2:54am
We need for UJ to go along with GU. If it happens it might hit my TP2 really quick.
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  • #27,638
  • Nov 8, 2017 3:28am Nov 8, 2017 3:28am
Quoting maflip
{quote} If you are not greedy 149.25 that's my 1:1 target 2:1 at 148.98. If extremely greedy and if they break below the 5th wave of this spike 146.66 hah hah. But you gonna have to be patient for that it's a big pattern.
how greedy am I, if my target is at 136.xxx? XD
f(z)=z2+c
  • #27,639
  • Nov 8, 2017 3:37am Nov 8, 2017 3:37am
Quoting PayTheLimit
good looking support near 149.30ish, might give it a go if we down there in the next hour... {image}
I think for my purposes, the ship sailed on those....some R near 150 which looks interesting and I might taker a closer look at...
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Look Sharp/Trade Tight
  • #27,640
  • Edited 4:31am Nov 8, 2017 4:11am | Edited 4:31am
Quoting hathor
{quote} how greedy am I, if my target is at 136.xxx? XD
Explanation:
- nearly all xxx/jpy pairs have sell signals above h4 TF
-> means jpy should get stronger
- gbp/xxx pairs have sell signals
-> means gbp should get weaker

So in my humble opinion all set for Gbp/jpy.
Of course the devil does not sleep, so it can go higher, its just my analysis. Dont trade it please . Thank you.*

*: the best entry point was before Official Bank Rate news on 2nd of Nov - managing those positions are safe, while entering the market now can be easily end up at SL
f(z)=z2+c
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