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Dragon Riders GBP/JPY

  • #181
  • Nov 26, 2014 4:14am Nov 26, 2014 4:14am
Quoting FX-Ray
{quote} Exactly, no one! Those trading G/U decision points for 2014.11.26: (1) 1.6470/65 (2) 1.6315/10 (3) 1.6300/6295 (4) 1.6275/70 (5) 1.6245/40 (6) 1.6185/80 (7) 1.6145/40 (8) 1.6110/05 (1) 1.6060/55 (2) 1.5970/65 (3) 1.5865/60 (4) 1.5760/55 (5) 1.5680/75 (6) 1.5605/00 (7) 1.5995/90 (8) 1.5565/60 (9) 1.5490/85 (10) 1.5390/85 (Yellow = current price range) {image}
That is quite a list for one day or is it for the week ? G/U upside is capped, I think, until we see some dollar weakness. Tomorrow we might see some thin-volume trading. Would like to see G/U back above 1.6000 but will be a long wait for that. Good to see you posting about G/U and E/U as well.
  • #182
  • Nov 26, 2014 4:15am Nov 26, 2014 4:15am
Quoting FX-Ray
Regarding the dragon, 1/4 185.00/84.80 still holding. As long as it doesnt get a break next is 185.60/40
With you for the ride...but damn those were some choppy waters. 185.50 is yesterdays NY high But waking up with 2 break even trades, 1loss on the E/J and 1 surviving which is the Gbp/Jpy @ 184.92 sure Getting quite expensive to build a position. Seems to be paying off, so you looking to add very soon ??
  • #183
  • Nov 26, 2014 4:15am Nov 26, 2014 4:15am
GBP/JPY breifly went to 185.725. Wonder if that'll be a complete breach of 185.6 or just a slight scratch. Probably a resumption in bullish momentum soon, depending on US news.
  • #184
  • Nov 26, 2014 4:20am Nov 26, 2014 4:20am
Quoting workingforex
{quote} That is quite a list for one day or is it for the week ? G/U upside is capped, I think, until we see some dollar weakness. Tomorrow we might see some thin-volume trading. Would like to see G/U back above 1.6000 but will be a long wait for that. Good to see you posting about G/U and E/U as well.
Yep tell me about it, with all the momentum it showed ended up been a 50 pip to the downside or thereabout before turning around. In any event we primarily trade the dragon and only dabble with its little sister if an opportunity rises I guess

If I may add ...we still waiting for the USd/Jpy to take off. Its been in this disastrous range for quite for sometime
  • #185
  • Nov 26, 2014 4:37am Nov 26, 2014 4:37am
Quoting IveGotQuads
{quote} Yep tell me about it, with all the momentum it showed ended up been a 50 pip to the downside or thereabout before turning around. In any event we primarily trade the dragon and only dabble with its little sister if an opportunity rises I guess If I may add ...we still waiting for the USd/Jpy to take off. Its been in this disastrous range for quite for sometime
Yes we are here for a while now, its just that one has to be patient in these conditions. Even if it moves lower in short-term, my bias is still up and wait for right time to load long. It is testing time and holding on to a position can be bit nervy at times!
  • #186
  • Edited 4:59am Nov 26, 2014 4:39am | Edited 4:59am
Quoting workingforex
{quote} That is quite a list for one day or is it for the week ? G/U upside is capped, I think, until we see some dollar weakness. Tomorrow we might see some thin-volume trading. Would like to see G/U back above 1.6000 but will be a long wait for that. Good to see you posting about G/U and E/U as well.
Its just for today. Am paying attention to 1.58125/075* for now. Yeah just saw some trading it thought to drop my 2 cents

Add: Corrected price (typo)*
  • #187
  • Nov 26, 2014 4:40am Nov 26, 2014 4:40am
Quoting IveGotQuads
{quote} With you for the ride...but damn those were some choppy waters. 185.50 is yesterdays NY high But waking up with 2 break even trades, 1loss on the E/J and 1 surviving which is the Gbp/Jpy @ 184.92 sure Getting quite expensive to build a position. Seems to be paying off, so you looking to add very soon ??
I dont like the volatility in the moment and somehow the thought of a correction doesnt leave me alone. Am paying attention at 185.80/70 now, I wonder what happends when it gets back into DP. Maybe buyers waiting at 183.20/00; true buyers wont chase the market up. Thats my thought so far. Anyway news in 40min.
  • #188
  • Nov 26, 2014 4:44am Nov 26, 2014 4:44am
Would you guys say the bearish bias is completely broken? Or would we see a small attempt to retest 185?
  • #189
  • Nov 26, 2014 4:44am Nov 26, 2014 4:44am
Quoting FX-Ray
{quote} Its just for today. Am paying attention to 1.52125/075 for now. Yeah just saw some trading it thought to drop my 2 cents
Did I read that right ? It will come for sure but not now!
  • #190
  • Nov 26, 2014 4:58am Nov 26, 2014 4:58am
Quoting workingforex
{quote} Did I read that right ? It will come for sure but not now!
Sorry mate, typo. 1.58125/075. Thanks.
Add: I corrected it
  • #191
  • Nov 26, 2014 5:03am Nov 26, 2014 5:03am
......I once sat on a profit of 130 pips....in 4 hours, I I'm sitting at a loss of 60 pips o.0.

I just want the GBP/JPY to do its damn correction before going up...I guess thanksgiving just wants a choppy market.
  • #192
  • Nov 26, 2014 5:03am Nov 26, 2014 5:03am
Quoting Vermillion
......I once sat on a profit of 130 pips....in 4 hours, I I'm sitting at a loss of 60 pips o.0. I just want the GBP/JPY to do its damn correction before going up...I guess thanksgiving just wants a choppy market.
Why didnt you lock-in profit or take partials?
  • #193
  • Nov 26, 2014 5:07am Nov 26, 2014 5:07am
Quoting FX-Ray
{quote} Why didnt you lock-in profit or take partials?
I didn't expect the market to break bearish correction so soon. I didn't set TP/SP before 184.5 (which it never reached). It was dawn when the change in trend happened. I'll break even on one short and lose about 70/80 in the other.

Meh. At least if the trend is established to be firmly bullish, I can just buy the other way and earn my losses back. I'll just consider this a lesson for me to take profits/partials on lasting supports.

Note to self: Be wary of uncertain trend during thanksgiving.
  • #194
  • Nov 26, 2014 5:09am Nov 26, 2014 5:09am
Welp - lost those short trades a loss - cut them short before the SL as I saw the writing on the wall - would have been an even bigger loss. I've said somewhere else, I've never been a great counter trend trader. Back in with the bulls - should have just stuck to the game plan and bought the dips - instead I got cute and deviated from the plan.... plus - that short swap is murder. False down breakout of that triangle looks like... usually a nice set up but that is what makes the dragon the dragon - just when you think you've got it tamed...

Losing is part of it... learn, move on.... the only memory in Forex that is allowed is that of the chart... at least that's what I am telling myself :-)
  • #195
  • Nov 26, 2014 5:11am Nov 26, 2014 5:11am
dang GBP must be on drugs ... share please
  • #196
  • Nov 26, 2014 5:13am Nov 26, 2014 5:13am
Quoting FX-Ray
Regarding the dragon, 1/4 185.00/84.80 still holding. As long as it doesnt get a break next is 185.60/40
.60 reached. I m still holding my long. Looking for a possible retest of 186.00.

Of course, for now, I already moved my SL to +60
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GJPY.jpg Size: 47 KB
Click to Enlarge Name: GJPy2.jpg Size: 330 KB
  • #197
  • Nov 26, 2014 5:18am Nov 26, 2014 5:18am
Hahahaha a lot of bulls locking profits @ 185.45 ......those are sell orders. I have a feeling price will be coming to scoop those orders
  • #198
  • Edited 5:33am Nov 26, 2014 5:20am | Edited 5:33am
Quoting FxLapozi
{quote} .60 reached. I m still holding my long. Looking for a possible retest of 186.00. Of course, for now, I already moved my SL to +60 {image} {image}
Perfect, you already did everything right, even when you get stopped out. Dont touch anything. Well done.
  • #199
  • Edited 5:43am Nov 26, 2014 5:27am | Edited 5:43am
Quoting AllyB
dang GBP must be on drugs ... share please
with pleasure
take care at 50% of those DPs, they may be potential reversal points.

Add(1): 1.57125/075 is one of those 50%
Add(2): Calculation: 1.5865/60 + 1.5760/55 = 1.58125/075 = 50%
Attached Image (click to enlarge)
Click to Enlarge Name: gu_stats_26.11.2014.png Size: 214 KB
  • #200
  • Nov 26, 2014 5:34am Nov 26, 2014 5:34am
shorted at 80ish, gonna bail out above 186 even

Add: Dont recommend to follow me, its a risky trade, make your own thoughts pls.
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