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Dragon Riders GBP/JPY

  • #28,701
  • Jul 12, 2018 5:13am Jul 12, 2018 5:13am
From daily chart
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 82 KB
Lost....
  • #28,702
  • Jul 12, 2018 5:28am Jul 12, 2018 5:28am
Quoting gespiri
My take: Wave 3 of corrective Wave C which may end either at 148.83 or 149.21 Followed by Wave 4 of Wave C to 146.875 Followed by Wave 5 of Wave C to 150.00 Then down to maybe 140ish. It should coincide with what's going on with the UK gov't under current PM May.

that is based on ? Elliot waves?
  • #28,703
  • Jul 12, 2018 5:50am Jul 12, 2018 5:50am
Ignore my earlier post. I've decided to go short based on current events from 148.7 area.
  • #28,704
  • Jul 12, 2018 6:21am Jul 12, 2018 6:21am
Quoting gespiri
My take: Wave 3 of corrective Wave C which may end either at 148.83 or 149.21 Followed by Wave 4 of Wave C to 146.875 Followed by Wave 5 of Wave C to 150.00 Then down to maybe 140ish. It should coincide with what's going on with the UK gov't under current PM May.
I like this suggestion. Good call.
  • #28,705
  • Jul 12, 2018 7:03am Jul 12, 2018 7:03am
Quoting mah.sarah
{quote} I like this suggestion. Good call.
Not there yet, I hope. I'm waiting for 148.83.....might spike up there then down or pass it for 149.21. We'll find out in 26min.....
Lost....
  • #28,706
  • Jul 12, 2018 7:04am Jul 12, 2018 7:04am
Quoting NLfxtrader
{quote} that is based on ? Elliot waves?
EW and Murrey Math.
Lost....
  • #28,707
  • Jul 12, 2018 7:16am Jul 12, 2018 7:16am
waiting... (for the Short)
all we need is the Yen to wake up, just a little bit...

Week:
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY-W1-2018-07-12_12-43-08.png Size: 103 KB

Day:
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY-D1-2018-07-12_12-47-34.png Size: 97 KB
you are not expected to understand this
  • #28,708
  • Jul 12, 2018 7:37am Jul 12, 2018 7:37am
I did open a long after all, I think the pair may rally to 149.00.
  • #28,709
  • Jul 12, 2018 7:43am Jul 12, 2018 7:43am
Quoting dianajs
I did open a long after all, I think the pair may rally to 149.00.
It is difficult to say.
From my experience, this pair is very volatile and normally has a good trend pattern. However, targets are quite difficult using my indicators.
Lost....
  • #28,710
  • Jul 12, 2018 9:27am Jul 12, 2018 9:27am
Quoting gespiri
{quote} It is difficult to say. From my experience, this pair is very volatile and normally has a good trend pattern. However, targets are quite difficult using my indicators.
yeah it's not called "the beast" without reason.
I'm on the sidelines and wait for the D1 priceaction to form within the setup.
I rarely ever trade this intraday. This beast can chew some serious bites out of your equity, I know it all too well....
you are not expected to understand this
  • #28,711
  • Jul 12, 2018 9:33am Jul 12, 2018 9:33am
Quoting Teek
{quote} yeah it's not called "the beast" without reason. I'm on the sidelines and wait for the D1 priceaction to form within the setup. I rarely ever trade this intraday. This beast can chew some serious bites out of your equity, I know it all too well....
Lol the "black widow".... patiently waiting to short this pair along with UJ.
Strive for PERFECTION!!
  • #28,712
  • Jul 12, 2018 9:56am Jul 12, 2018 9:56am
Quoting Teek
{quote} yeah it's not called "the beast" without reason. I'm on the sidelines and wait for the D1 priceaction to form within the setup. I rarely ever trade this intraday. This beast can chew some serious bites out of your equity, I know it all too well....
What do you mean by D1 price action?
Lost....
  • #28,713
  • Jul 12, 2018 2:09pm Jul 12, 2018 2:09pm
Quoting gespiri
{quote} What do you mean by D1 price action?
Priceaction setup on the Daily chart.

Quoting Msizii
{quote} Lol the "black widow".... patiently waiting to short this pair along with UJ.
or along with EJ and AJ, depending on the USD
you are not expected to understand this
  • #28,714
  • Jul 12, 2018 7:06pm Jul 12, 2018 7:06pm
I went short for a little while yesterday, but decided to be on bulls today.
  • #28,715
  • Edited 1:49am Jul 13, 2018 1:27am | Edited 1:49am
Quoting mah.sarah
I went short for a little while yesterday, but decided to be on bulls today.
really?
30 min. before London Open, it looks like this:
Attached Image


If this happened on a Monday/Tuesday, that's a short.
Sadly it's Friday, so that's nothing.. kind of...
I do like the Yen strength and the Pound weakness, but somehow I don't like the priceaction on H1.
What I'd really like to see would be a doubletop at resistance for me to pull the trigger on an H1 chart, set and forget, see how it behaves for a while. (I'm not a "Scalper")
But still I'd stay careful with any direction.

H1
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY-H1-2018-07-13_08-48-17.png Size: 92 KB
you are not expected to understand this
  • #28,716
  • Jul 13, 2018 2:05am Jul 13, 2018 2:05am
@Teek

Well looks like someone caught the short on dot.

Will be holding till 147.919, may bounce up who knows it's a friday after all!




Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 67 KB
If you don't respect risk, eventually they'll carry you out.
  • #28,717
  • Jul 13, 2018 2:07am Jul 13, 2018 2:07am
148 is support level. From there on it will go 150 and beyond.
  • #28,718
  • Jul 13, 2018 2:10am Jul 13, 2018 2:10am
Quoting Flyre
@Teek Well looks like someone caught the short on dot. Will be holding till 147.919, may bounce up who knows it's a friday after all! {image}
you are not the only one who caught it
I just don't like to show agressive entries on my charts because I don't want anyone to copy my trades without knowing how I think and trade.
I do the exact same thing, hold and see if we can break the Support and Momentum trendline. If it performs, I hold it and scale in next week, if it doesn't, I might close throughout the day.
I don't want anyone to copy because for me, working with Stops of 30-120 Pips, scaling in and out of positions is very normal and losing 30-120 Pip stopped trades is nothing, but I am aware that we have a lot of scalpers with very different risk management than what I do. That's why I decided not to show it on the chart that I posted, even though it would have been a nice scalptrade preopen.
I have no set target on this one.
We'll see how it goes. Good luck
you are not expected to understand this
  • #28,719
  • Jul 13, 2018 6:16am Jul 13, 2018 6:16am
Quoting gespiri
My take: Wave 3 of corrective Wave C which may end either at 148.83 or 149.21 Followed by Wave 4 of Wave C to 146.875 Followed by Wave 5 of Wave C to 150.00 Then down to maybe 140ish. It should coincide with what's going on with the UK gov't under current PM May.
Still sticking to 146.87 which is between the 50 and 61.8 fib line. This is also the midpoint of the MM line in the daily chart (yellow circle)
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 61 KB
Lost....
  • #28,720
  • Jul 13, 2018 7:07am Jul 13, 2018 7:07am
Main trend is bulls. Short trend based on emotions.
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