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Dragon Riders GBP/JPY

  • #28,021
  • Nov 27, 2017 8:36pm Nov 27, 2017 8:36pm
Quoting OHLC
{quote} I'm going to buy CADJPY when there's something good to grab but the rest of the JPY pairs are just not setup for it. Just my opinion...
Are you sure? CAD and JPY will be the next worst currency performers. Oil barrel price is almost falling and this will affect CAD. Both together = low performance = low volatility = few pips.

NDZJPY, GBPJPY and USDJPY sound like better options right now.

GBPJPY is in a perfect falling channel since 03 November, if it breaks above, It's likely not going to stop before 151.25 to 152.50. I'm watching for a possible pattern continuation of this pair.
Hey buddy, let's grab some Pips!
  • #28,022
  • Nov 27, 2017 8:42pm Nov 27, 2017 8:42pm
Quoting WhiteMouseFX
{quote} Are you sure? CAD and JPY will be the next worst currency performers. Oil barrel price is almost falling and this will affect CAD. Both together = low performance = low volatility = few pips. NDZJPY, GBPJPY and USDJPY sound like better options right now. GBPJPY is in a perfect falling channel since 1st november, if it breaks above, It's likely not going to stop before 151.25 to 152.50. I'm watching this possibility at least.
I'm just trading intraday but I could look at weekly. For the pairs you mentioned, how many days in advance are you looking at?
Here's Tom with the weather.
  • #28,023
  • Nov 27, 2017 8:48pm Nov 27, 2017 8:48pm
Quoting WhiteMouseFX
{quote} Are you sure? CAD and JPY will be the next worst currency performers. Oil barrel price is almost falling and this will affect CAD. Both together = low performance = low volatility = few pips. NDZJPY, GBPJPY and USDJPY sound like better options right now. GBPJPY is in a perfect falling channel since 03 November, if it breaks above, It's likely not going to stop before 151.25 to 152.50. I'm watching for a possible pattern continuation of this pair.
Out of the pairs you mentioned, USDJPY is the only one setting up for a reversal next week if it continues to be red but, I'd have to wait and see how this week closes on Friday.
Here's Tom with the weather.
  • #28,024
  • Nov 27, 2017 9:04pm Nov 27, 2017 9:04pm
Quoting OHLC
{quote} I'm just trading intraday but I could look at weekly. For the pairs you mentioned, how many days in advance are you looking at?
It's hard to say the number of days because depends on the volatility. I also have a different strategy based on Fibs and channels/wedges/triangles, etc. So my target can be reached in minutes or days. If the tax bill pass will be probably a game changer. It's just about to happen, and I can see USD pairs reaching channel tops and bottoms, so something is about to happen. I'm keeping my eyes opened.
Hey buddy, let's grab some Pips!
  • #28,025
  • Edited 12:33am Nov 28, 2017 12:15am | Edited 12:33am
TP1 148.482 - 147.934 :: 148.482 hit
TP2 148.889 - 147.772
Attached Image

long 4.25 hours ago , 9.50 am [Malaysia time]
Exits == most important part of your strategy
  • #28,026
  • Nov 28, 2017 12:29am Nov 28, 2017 12:29am
I was in on that long but GU exited quickly there's going to be a GBP bank stress test result in 30 mins. I don't want to be on the wrong side of that one. If found out that most GBP banks did not pass the stress test GBP will get screwed big time. I don't want to be on the wrong side of that one.

But that small spike made me jump up my seat it's fun.
  • #28,027
  • Nov 28, 2017 4:06am Nov 28, 2017 4:06am
crappy market nothing moves gold, UJ, GU, GJ. There's a H&S pattern on GU which I shorted but exited now. Market is soooo boring. They might be waiting on something.

I might enter again if it makes another pass below those candles. but small lots. Also, small stop just above those M30 candles. If it breaks out it's supposed to break out not just hang right there.
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  • #28,028
  • Edited 4:31am Nov 28, 2017 4:19am | Edited 4:31am
Quoting maflip
crappy market nothing moves gold, UJ, GU, GJ. There's a H&S pattern on GU which I shorted but exited now. Market is soooo boring. They might be waiting on something. I might enter again if it makes another pass below those candles. but small lots. Also, small stop just above those M30 candles. If it breaks out it's supposed to break out not just hang right there. {image}
Here ya go. Last attempt. If this still doesn't work. I quit.

Risk vs reward 1.5:1 and 3:1

If it doesn't work then shit happens lol.
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  • #28,029
  • Nov 28, 2017 7:02am Nov 28, 2017 7:02am
Took early +24 profit because we just hit the daily range. Letting the other one hit +60 if it hits. Stop at break even.
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  • #28,030
  • Nov 28, 2017 7:25am Nov 28, 2017 7:25am
If UJ close below this fractal then UJ and GU will now be in the same direction. GJ might go down fast if it happens. But there will be a speaker later hopefully he doesn't screw up UJ.

Hopefully GU just holds at the low while UJ is going down.
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  • #28,031
  • Edited 9:29am Nov 28, 2017 8:13am | Edited 9:29am
Monthly TF idea:
- Short until price takes out 124.771
- Long until price takes out 152.847

Attached Image


It could take time...maybe a lot of time
Attached Image
f(z)=z2+c
  • #28,032
  • Nov 28, 2017 8:43am Nov 28, 2017 8:43am
lol gold is taking an early dump before the speech. Is there inside info? Speaker going to be bullish the dollar? If he is going to pump up the dollar then good for my GU short.
  • #28,033
  • Nov 28, 2017 9:43am Nov 28, 2017 9:43am
Quoting hathor
First things first imho: - First - this week has to turn to bear -> under weekly open - Second - this month has to take out the low of the previous monthly candle [146.929] than...a consolidation of the down move is in the cards for me...to get liquidity/new bulls (AND dont forget the fact that breaking of a low attract a lot of sellers...they have to be shaken out) to continue the drop under 140.xxx Therefore AB = CD and we have finished. ...
Done.
Lol...didn't think it will be this slow.
In this case there might not be consolidation, rather acceleration.
f(z)=z2+c
  • #28,034
  • Nov 28, 2017 9:55am Nov 28, 2017 9:55am
Just the part of the range on Daily TF, still no victory.
Wil be an interesting Monthly close.
Grab your pop-corn and your drink and have a seat on the crazy train.

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f(z)=z2+c
  • #28,035
  • Nov 28, 2017 10:06am Nov 28, 2017 10:06am
Quoting maflip
Took early +24 profit because we just hit the daily range. Letting the other one hit +60 if it hits. Stop at break even. {image}
Kapow baby Target hit lol. Will post victory photo later. Im at the restaurant ordering food.
  • #28,036
  • Nov 28, 2017 10:09am Nov 28, 2017 10:09am
Finally moving downwards.

I am looking at 140 handle. This weekly bearish triangle has got a long way down
A 1 pip gain is better than a 1 pip loss.
  • #28,037
  • Edited 11:02am Nov 28, 2017 10:14am | Edited 11:02am
Quoting maflip
{quote} Kapow baby Target hit lol. Will post victory photo later. Im at the restaurant ordering food.
Haha, have a good meal....did you order a well done steak dragon?
f(z)=z2+c
  • #28,038
  • Nov 28, 2017 10:30am Nov 28, 2017 10:30am
Quoting hathor
{quote} Haha, have a good meal....did you order a well done dragon?
Same here, just touched the channel bottom. Good short term long ride.

Possibly going to 148.85. It seems like a good setup. I'm watching it.
Hey buddy, let's grab some Pips!
  • #28,039
  • Nov 28, 2017 10:54am Nov 28, 2017 10:54am
Quoting maflip
{quote} Kapow baby Target hit lol. Will post victory photo later. Im at the restaurant ordering food.
Attached Image (click to enlarge)
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Attached Image
  • #28,040
  • Nov 28, 2017 10:55am Nov 28, 2017 10:55am
Quoting hathor
{quote} Haha, have a good meal....did you order a well done dragon?
hah hah I took the Dragons female cousin but yeah I ate her medium rare.
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