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Dragon Riders GBP/JPY

  • #121
  • Nov 25, 2014 1:54am Nov 25, 2014 1:54am
Quoting FX-Ray
{quote} No it doesnt, if 1/4 185.00/84.80 holds here and we get back into DP (3) 185.60/40 + decent break, its a good indication it may resume the fundamental trend.
  • #122
  • Nov 25, 2014 2:01am Nov 25, 2014 2:01am
Quoting HareshBM
{quote}
three scenarios

(H1)

I always consider both sides and build scenarios, so Im not stuck with one idea but when I see one idea/scenario is working out, I'll stick to it.
Attached Image (click to enlarge)
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  • #123
  • Nov 25, 2014 2:20am Nov 25, 2014 2:20am
It gets interesting at 185.15/10 though; My read is there are some stops. I wonder if there are enough for building upward momentum
  • #124
  • Nov 25, 2014 2:20am Nov 25, 2014 2:20am
Morning! I closed shorts the evening because of event risk and did not want to lose some of the day's profits again. Congrats to the ones who kept them, looks like a short term sentiment change: Might be some logic to it. The obvious long trade is too crowded because of greed, so the greedy ones get shot first ...
Fix up, trade sharp ...
  • #125
  • Nov 25, 2014 2:25am Nov 25, 2014 2:25am
Quoting Hickson
Morning! I closed shorts the evening because of event risk and did not want to lose some of the day's profits again. Congrats to the ones who kept them, looks like a short term sentiment change: Might be some logic to it. The obvious long trade is too crowded because of greed, so the greedy ones get shot first ...
Morning Hicks, yeah they picked them up at the high. Remember we had the conversation here: (http://www.forexfactory.com/showthread.php?p=7863314)
  • #126
  • Nov 25, 2014 2:27am Nov 25, 2014 2:27am
Quoting FX-Ray
{quote} three scenarios (H1) I always consider both sides and build scenarios, so Im not stuck with one idea but when I see one idea/scenario is working out, I'll stick to it. {image}
Would rather wait for today's inflation report hearing. BoE minutes already hinted towards stronger economic recovery and any further hawkish comments would boost near to medium-term demand for GBP.
  • #127
  • Nov 25, 2014 2:30am Nov 25, 2014 2:30am
Quoting HareshBM
{quote} Would rather wait for today's inflation report hearing. BoE minutes already hinted towards stronger economic recovery and any further hawkish comments would boost near to medium-term demand for GBP.
True, am flat anyway. Wake-up-breakfast-news for the the dragon
  • #128
  • Nov 25, 2014 2:35am Nov 25, 2014 2:35am
Quoting FX-Ray
It gets interesting at 185.15/10 though; My read is there are some stops. I wonder if there are enough for building upward momentum
Showtime
  • #129
  • Nov 25, 2014 2:40am Nov 25, 2014 2:40am
Quoting FX-Ray
{quote} Morning Hicks, yeah they picked them up at the high. Remember we had the conversation here: (http://www.forexfactory.com/showthread.php?p=7863314)
Morning Ray, yes that is a good insight. Remember what I said to you about counter trend trading. I felt like these shorts might work out, but then again I did not want to let them out in the market while sleeping, because they are counter trend trades ... very interesting!
Fix up, trade sharp ...
  • #130
  • Nov 25, 2014 2:42am Nov 25, 2014 2:42am
Quoting FX-Ray
{quote} Showtime
Not enough, lets see on the retest since some went short at 10.

Add: Sitting shorts + new shorts + if buyers come in = covering sitting shorts, covering new shorts + new buyers = up-momentum
  • #131
  • Nov 25, 2014 2:49am Nov 25, 2014 2:49am
Quoting FX-Ray
{quote} Not enough, lets see on the retest since some went short at 10. Add: Sitting shorts + new shorts + if buyers come in = covering sitting shorts, covering new shorts + new buyers = up-momentum
Beautiful
  • #132
  • Nov 25, 2014 2:56am Nov 25, 2014 2:56am
Quoting FX-Ray
{quote} Beautiful
as expected, rebounds from support.
would be cautiously long until strengthens above 186.00 and aggressively after that...
  • #133
  • Nov 25, 2014 6:08am Nov 25, 2014 6:08am
Quoting TheBody
Short 185.222. SL 185.444. TP - open!
TP at 180.555. Should be massive support there. Seems like the correction have started so i'm still holding my shorts with SL at break-even now. FREE RIDE!
  • #134
  • Nov 25, 2014 7:14am Nov 25, 2014 7:14am
today may tp1: 184.420 / tp2:184.099 is that pissible ?
  • #135
  • Nov 25, 2014 7:20am Nov 25, 2014 7:20am
Quoting TheBody
{quote} TP at 180.555. Should be massive support there. Seems like the correction have started so i'm still holding my shorts with SL at break-even now. FREE RIDE!
wow - quite aggressive projection down - interesting to see if that comes to pass, but upward pressure seems to be suspending any downward movement atm....

I have a larger than normal short open with a SL: 186.100 at the top of the highest move... from a MM stand point, I am risking less 'distance' so I increase the amount...

1:1 TP =184.120
2:1 TP = 183.150

Overall bias is long, but today looks ranging to short so we'll see...
  • #136
  • Nov 25, 2014 7:56am Nov 25, 2014 7:56am
Quoting FX-Ray
{quote} No it doesnt, if 1/4 185.00/84.80 holds here and we get back into DP (3) 185.60/40 + decent break, its a good indication it may resume the fundamental trend. Add: If DP (3) 185.60/40 gets rejected it may continue down.
(H1)
Attached Image (click to enlarge)
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  • #137
  • Nov 25, 2014 8:20am Nov 25, 2014 8:20am
Quoting FX-Ray
{quote} (H1) {image}
mornong
  • #138
  • Nov 25, 2014 8:20am Nov 25, 2014 8:20am
http://www.fxtsp.com/trading-strateg...-patterns.html
for those who may be interested of course it may or may not apply
  • #139
  • Nov 25, 2014 8:21am Nov 25, 2014 8:21am
Quoting AllyB
{quote} mornong
Mornong
  • #140
  • Nov 25, 2014 8:25am Nov 25, 2014 8:25am
Quoting FX-Ray
{quote} (H1) {image}
I'm guessing that if the U.S. consumer confidence is positive, we'll see a resumption in the GBP/JPY bullish momentum?

If not (and the news turns out bearish for the dollar), does the correction still apply down to 184.00 levels?
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