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Dragon Riders GBP/JPY

  • #881
  • Dec 8, 2014 10:33pm Dec 8, 2014 10:33pm
Quoting PayTheLimit
{quote} what TF are you using to get that one, I dont see it, but to be honest, below 187.27, it looks messy to me, nothing jumps out at me I mean, not till much lower...
1H - If structures keep breaking and holding on the opposite side - worst case scenario right?
Attached Image (click to enlarge)
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  • #882
  • Dec 8, 2014 10:37pm Dec 8, 2014 10:37pm
God I need another drink, or maybe 3 of them
Please check out my blog at https://from-zero-to-hero . net
  • #883
  • Dec 8, 2014 10:47pm Dec 8, 2014 10:47pm
Quoting ElonMusketee
{quote} 1H - If structures keep breaking and holding on the opposite side - worst case scenario right? {image}
perhaps yes..I will use 186.23/26 down there me thinks..
Look Sharp/Trade Tight
  • #884
  • Dec 8, 2014 10:49pm Dec 8, 2014 10:49pm
Quoting smash1820
God I need another drink, or maybe 3 of them
Pour me one while you're at it. Good thing I had a tight stop on my long.

Fortunately, my long on the E/U is still holding up alright. Hoping for another nice big push up from it.
  • #885
  • Dec 8, 2014 11:34pm Dec 8, 2014 11:34pm
maybe 185.57 provides some support, just guessing however...

edit, a better guess is 185.71/72, think that might provide some reaction...
Look Sharp/Trade Tight
  • #886
  • Dec 8, 2014 11:46pm Dec 8, 2014 11:46pm
Upward channel is still valid. Perhaps taking a nosedive towards support before moving back up again. Quite possibly a lot of pips to be taken as it goes bear for a bit before resuming its bull charge.

edit: Just revamped the channel and tightened it up a little bit on the support.
Attached Image (click to enlarge)
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  • #887
  • Dec 8, 2014 11:48pm Dec 8, 2014 11:48pm
if lower than 187.165, maybe it's an good opportunity to sell. Right?
  • #888
  • Dec 9, 2014 12:07am Dec 9, 2014 12:07am
Quoting PayTheLimit
.... edit, a better guess is 185.71/72, think that might provide some reaction...
I used a rather sneaky method to come up with this, untested in real time....curious to see if it gets any reaction...

also came up with 147.15 in the EY....and 119.76 in the yen...

few more...2356 in the EU, and 5681/82 in cable...
Look Sharp/Trade Tight
  • #889
  • Dec 9, 2014 12:20am Dec 9, 2014 12:20am
gonna try a short at 2356 in the EU, risk 10, try for 2306...
Look Sharp/Trade Tight
  • #890
  • Dec 9, 2014 12:37am Dec 9, 2014 12:37am
Quoting PayTheLimit
maybe 185.57 provides some support, just guessing however... edit, a better guess is 185.71/72, think that might provide some reaction...
you sure? Based on the trendline, I'd say that 187.50~187.70 ought to bring in fresh bulls for reload. I wouldn't call off bullish momentum even on a weekly level unless we have a clear breach of 187.50 and test it to be a new resistance

I just can't imagine smashing through the 187 mark just a few hours before GBP manufacturing production; if anything, that news will likely be a catalyst for potential bullish rebound.

Edit: I have a thesis due soon, but who cares. I'm willing to stay up a few hours more up to 4am for the geppy. Can't sleep with this movement.
  • #891
  • Dec 9, 2014 12:46am Dec 9, 2014 12:46am
Quoting Vermillion
{quote} you sure? Based on the trendline, I'd say that 187.50~187.70 ought to bring in fresh bulls for reload. I wouldn't call off bullish momentum even on a weekly level unless we have a clear breach of 187.50 and test it to be a new resistance I just can't imagine smashing through the 187 mark just a few hours before GBP manufacturing production; if anything, that news will likely be a catalyst for potential bullish rebound.
well the support was there...but I thought that 185.71/72 was better, even though it was broken by 20 or so pips...but for GY, I dont know if thats signicifant or not...
Look Sharp/Trade Tight
  • #892
  • Dec 9, 2014 12:49am Dec 9, 2014 12:49am
Quoting PayTheLimit
{quote} well the support was there...but I thought that 185.71/72 was better, even though it was broken by 20 or so pips...
You might be right; I guess it'd depend on whatever the market makers decide to make of the upcoming British manufacturing. It could be a bull or bear catalyst.

All they need is one bearish news and they'll have their casus belli to declare war on us poor retail traders. Then, as soon as we get stopped out, they'll probably buy up all the bears and reverse the momentum up to 190.

The only question is......how much margin should I leave when I reload?

Note: We're testing 188; I'm leaning more towards 188 being a resistance; I get the feeling we'll retest 187.20/50
  • #893
  • Dec 9, 2014 12:54am Dec 9, 2014 12:54am
Quoting Vermillion
{quote} The only question is......how much margin should I leave when I reload? Note: We're testing 188; I'm leaning more towards 188 being a resistance; I get the feeling we'll retest 187.20/50

leave plenty, always good to have reserves....my levels today of interest at 187.71, up top, 188.80, and down below, 186.49...
Look Sharp/Trade Tight
  • #894
  • Dec 9, 2014 1:13am Dec 9, 2014 1:13am
Quoting PayTheLimit
gonna try a short at 2356 in the EU, risk 10, try for 2306...
that stop is too tight, it needs to be higher, so I'll work 2356 offers, risk 2372...

another edit, lol, took a better look and am making it 2362 offer, 2372 stop....it seems to be a sneaker level...
Look Sharp/Trade Tight
  • #895
  • Dec 9, 2014 1:27am Dec 9, 2014 1:27am
I wonder if its true... that a level that jumps out at you is better than a level that you have to search for....
Look Sharp/Trade Tight
  • #896
  • Dec 9, 2014 1:36am Dec 9, 2014 1:36am
anyway, need to find a toilet..back later, PTL..
Look Sharp/Trade Tight
  • #897
  • Dec 9, 2014 2:13am Dec 9, 2014 2:13am
may consider going long GBPJPY around 184.6/184.8
and thats a big "if"
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #898
  • Dec 9, 2014 2:40am Dec 9, 2014 2:40am
Quoting PayTheLimit
anyway, need to find a toilet..back later, PTL..
lol
Fix up, trade sharp ...
  • #899
  • Dec 9, 2014 2:43am Dec 9, 2014 2:43am
Call me crazy, but I am about to look for shorts here ...
Fix up, trade sharp ...
  • #900
  • Dec 9, 2014 3:10am Dec 9, 2014 3:10am
buy tp 188.540
Time is your friend; impulse is your enemy.
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