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Dragon Riders GBP/JPY

  • #1,261
  • Dec 11, 2014 4:40pm Dec 11, 2014 4:40pm
Quoting Hickson
{quote} Why not. By believing this, I have a much better chance than by not doing so.
Inserted Video
  • #1,262
  • Dec 11, 2014 4:52pm Dec 11, 2014 4:52pm
Quoting FX-Ray
{quote} https://www.youtube.com/watch?v=70T_WkVb4XA
Ah, yes. I know that guy. He is a wise man. Keep going, no matter what. Let's go for something out of the reality of a serial house with mediocre job with an unacceptable asshole as a boss of a company doing no good, car, wife living in a relationship of co-dependence and two kids arguing all day and feeding our inflated egos by looking down on anyone who might just be a bit poorer by any means. Let's take the machete and cut through the jungle where our critics do not dare to walk.
Fix up, trade sharp ...
  • #1,263
  • Dec 11, 2014 4:59pm Dec 11, 2014 4:59pm
Quoting Hickson
{quote} Ah, yes. I know that guy. He is a wise man. Keep going, no matter what. Let's go for something out of the reality of a serial house with mediocre job with an unacceptable asshole as a boss of a company doing no good, car, wife living in a relationship of co-dependence and two kids arguing all day and feeding our inflated egos by looking down on anyone who might just be a bit poorer by any means. Let's take the machete and cut through the jungle where our critics do not dare to walk.
I like you buddy, good night, laters
  • #1,264
  • Dec 11, 2014 5:06pm Dec 11, 2014 5:06pm
Quoting FX-Ray
{quote} I like you buddy, good night, laters
I like you too, no homo LOL Gn8
Fix up, trade sharp ...
  • #1,265
  • Dec 11, 2014 6:06pm Dec 11, 2014 6:06pm
It's tokyo market hours. It's finally here.

The GBP/JPY is showing a decent bullish momentum; I suspect that 187.20 is what's holding the bulls back from retesting 187.60/80 (Ray's DP and Dec 4 support)

I get a good feeling of retesting that area once more, and should it break, I expect to see the halfway mark to 189.50 (188.30/50), and if that holds, we'll see a retest of Dec 8 highs.

But I get the distinct impression it'll be difficult to punch past 189.50~190.00, at least with the way things are for now. Then again, I'm an intraday trader, so meh.

I have my caffeine, alarm clock, and computer settings set to high performance. *glues eyes to the screen*
  • #1,266
  • Edited 10:16pm Dec 11, 2014 7:04pm | Edited 10:16pm
Quoting Vermillion
It's tokyo market hours. It's finally here. The GBP/JPY is showing a decent bullish momentum; I suspect that 187.20 is what's holding the bulls back from retesting 187.60/80 (Ray's DP and Dec 4 support) I get a good feeling of retesting that area once more, and should it break, I expect to see the halfway mark to 189.50 (188.30/50), and if that holds, we'll see a retest of Dec 8 highs. But I get the distinct impression it'll be difficult to punch past 189.50~190.00, at least with the way things are for now. Then again, I'm an intraday trader, so...
We see it the same.....that 7:42 trade is working I think..... ....
Huge buy tonite down there somewhere....about 2:30 am New Yorktime
  • #1,267
  • Edited 9:26pm Dec 11, 2014 8:32pm | Edited 9:26pm
We seem to have an ascending triangle with the main resistance at 187.20.

this, plus the fact that general momentum is bullish in favor of retesting 187.80, means that we're close to having a breakout.

I'd say 65%~70% we'll see 187.80, but just in case, I'm adjusting my stop losses. Not all ascending triangles result in a breakout upwards.

Edit: Alright, it's been stuck at 187 (just below that) for an hour. It could be possible that the british pound and the dollar are waiting on the reports from China. My theory (if you can call it that) is that if the report is bearish than usual, people will sell the chinese renminbi (yuan) for its main competitor, the US dollar, which will also inevitably bump the value of the pound by association. The USD/JPY and GBP/JPY usually go hand in hand after all. It won't make a huge initial impact, but it'll be enough to get things started.

It happened just a day or two ago too, and given that the news is only 2 hours away.....I wouldn't be surprised.
  • #1,268
  • Edited 10:51pm Dec 11, 2014 10:11pm | Edited 10:51pm
Music to trade to......"Animal Couch" and "Vine" both on the Christian Radio station here..... hailing from Dallas Texas Denton bands, really....
  • #1,269
  • Edited 2:35am Dec 12, 2014 2:05am | Edited 2:35am
what goes today I wonder...think cable wants higher,maybe some support 5694/5703......EU needs a good close above 2413 me thinks to turn back up..in the AUD I'm watching 8284...

cable trades sluggish, doing nothing now...waiting for something fresh to develop...gl
Look Sharp/Trade Tight
  • #1,270
  • Dec 12, 2014 2:48am Dec 12, 2014 2:48am
Quoting Vermillion
{quote} Yup. But I don't see that happening today; by 189, the bulls would have gone up 400pips already. I know U.S. data is good and well, but I'm definitely expecting a correction around the 189-190 mark. Edit: I have no idea whether 187.80 will be breached, but I'm taking a small short for the correction down.
morning yes that was numbers the working chart numbers was a profit taking , Mr Scott was on the numbers i see ..
Attached Image (click to enlarge)
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buying on this levels sl on yesterdays break out,,gl
  • #1,271
  • Dec 12, 2014 3:40am Dec 12, 2014 3:40am
Yeah Dragon did it again, got burn, never try to predict the dragon just ride along.
  • #1,272
  • Dec 12, 2014 4:40am Dec 12, 2014 4:40am
Quoting heriyadi
Yeah Dragon did it again, got burn, never try to predict the dragon just ride along.


Your short some days ago should have been good though.
Fix up, trade sharp ...
  • #1,273
  • Dec 12, 2014 6:03am Dec 12, 2014 6:03am
Quoting Hickson
{quote} Your short some days ago should have been good though.
Yeah in overall I still made 220 pips this months, still I should trust my system better and more discipline
  • #1,274
  • Dec 12, 2014 6:40am Dec 12, 2014 6:40am
closed one long for +29 yesterday, 2 longs on going right now

Ill never short it, lets c.... 188.85 TG

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY_H1_121214.png Size: 87 KB
Hero calls followed by margin calls...
  • #1,275
  • Dec 12, 2014 6:47am Dec 12, 2014 6:47am
The U.S. news in 43 minutes will probably make or break everything.

And then after a few hours (3~4), I expect the market to taper off as it prepares to close for the weekend
  • #1,276
  • Dec 12, 2014 7:12am Dec 12, 2014 7:12am
anyway i try to take the risk off today, japanes elections on sunday will have an bullish yen impact anyway, my guess...
Hero calls followed by margin calls...
  • #1,277
  • Dec 12, 2014 7:14am Dec 12, 2014 7:14am
Quoting FX-Ray
{quote} https://www.youtube.com/watch?v=70T_WkVb4XA
Wow! Nice video, worth a watch, would recommend all to watch it!
  • #1,278
  • Edited 7:33am Dec 12, 2014 7:15am | Edited 7:33am
Very close to being stopped out of UJ at BE. So a small chance left for some profit, if not, risk free into remainder of the week here.

S/O with a profit of 2 Cent on this one LOL! Happy weekend all!
Fix up, trade sharp ...
  • #1,279
  • Dec 12, 2014 7:51am Dec 12, 2014 7:51am
Quoting Hickson
Very close to being stopped out of UJ at BE. So a small chance left for some profit, if not, risk free into remainder of the week here. S/O with a profit of 2 Cent on this one LOL! Happy weekend all!
I would hold it over the weekend with a wider stop, with election over the weekend in Japan and most probably Abbe winning with majority can be a good trade, but again no body knows and you need to assess your risk, there will more chances later anyways! Just my 2 cent!
  • #1,280
  • Dec 12, 2014 7:57am Dec 12, 2014 7:57am
I know this is a bit early, but I get a bad feeling about Japan's elections.

It's practically a given that Abe Shinzo's party will take the majority, and he'll likely stay. In fact, it'll require a major outlier event to prevent this, and given Abe Shinzo's pro-devaluation of the yen, this should be good for the GBP/JPY. In theory.

But what if the market makers have already cashed in on this news? I understand they're doing that right now, but what I mean is this: what's to stop them from dragging the geppy to new lows below 185 (say, 184) before pumping it back right up? What if they've already "bought the rumor, sold the facts", so to speak?

This gives me an eerie reminiscence of the Scottish Referendum. We've had all those analysts and retail traders who said the pound was set to soar to new highs thanks to Scotland not leaving the U.K., and we've seen the result. Right after the election peak of 180, the price kept dropping and dropping right down to 167.80. People expected Scotland to stay, and cashed in on the temporary decline.

And while the Geppy is no doubt slated to keep increasing if Abe Shinzo wins, I don't think there's an absolute guarantee of a spike right after the election results. If anything, I wouldn't be surprised to see an attempt by the market to flush out retail bulls.

What are your predictions about the Japanese elections?
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