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Dragon Riders GBP/JPY

  • #1,321
  • Dec 15, 2014 11:24am Dec 15, 2014 11:24am
Quoting Gbp/jpy
See that really sticky spot at >.28 to <.37........hey, That could be someone's trading system all by itself....I swear... ( as in xxx.28 to xxx.37 ) or 186.37 regardless of the direction of the P A....it's gummy in there.!! ( ask price )
I'd say it's closer to >.28 to <.60

But all in all, I agree. The damn price is stuck at 184, which appens to be one of the bigger supports. Honestly, I'm expecting a bounce to 185, or even the previous decision point/intraday support of 185.50 (all prices are at a range of plus or minus a few pips).

I can't tell the exact range it'll stop at. Liquidity is low, so any mass purchase/sell off would have a ripple effect on the market. Things should improve tomorrow, when we have some fresh important data.

I'll probably short somewhere around 185, target slightly above 184, and stop loss.....around 185.3, maybe?
  • #1,322
  • Dec 15, 2014 11:29am Dec 15, 2014 11:29am
Quoting Vermillion
{quote} I'd say it's closer to >.28 to <.60 But all in all, I agree. The damn price is stuck at 184, which appens to be one of the bigger supports. Honestly, I'm expecting a bounce to 185, or even the previous decision point/intraday support of 185.50 (all prices are at a range of plus or minus a few pips). I can't tell the exact range it'll stop at. Liquidity is low, so any mass purchase/sell off would have a ripple effect on the market. Things should improve tomorrow, when we have some fresh important data.
Could bounce right now at 80ish, if it holds next is 183.90/70; if not we probably see a test of 185.70/50
  • #1,323
  • Dec 15, 2014 11:31am Dec 15, 2014 11:31am
Quoting FX-Ray
{quote} Could bounce right now at 80ish, if it holds next is 183.90/70; if not we probably see a test of 185.70/50
Why 80ish though? Wouldn't the price try and test the 185 psychological resistance? I personally think 185 would be the make-or-break for a retest of 185.70/50 or going down back to 184-ish
  • #1,324
  • Dec 15, 2014 11:34am Dec 15, 2014 11:34am
Quoting Vermillion
{quote} Why 80ish though? Wouldn't the price try and test the 185 psychological resistance? I personally think 185 would be the make-or-break for a retest of 185.70/50 or going down back to 184-ish
(185.70/50 + 183.90/70) / 2 = 184.80/60 or as simple as halfway.

Nice you mentioned psychological "levels", those level are imaginary, at some crosses they work at some they dont. Sometimes they are like pivots and sometimes they act as support or resistance but in the end its just another price. Fallacy of even numbers.
  • #1,325
  • Dec 15, 2014 11:41am Dec 15, 2014 11:41am
Quoting FX-Ray
{quote} (185.70/50 + 183.90/70) / 2 = 184.80/60 or as simple as halfway. Nice you mentioned psychological "levels", those level are imaginary, at some crosses they work at some they dont. Sometimes they are like pivots and sometimes they act as support or resistance but in the end its just another price. Fallacy of even numbers.
for example 185.00; it might get tested, then retrace a bit then then run right through it, you dont know and me neither and the same exact thing can happen at any price.

or for example look 186.00, its a mess..
  • #1,326
  • Dec 15, 2014 11:55am Dec 15, 2014 11:55am
GJ
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH41215.jpg Size: 207 KB
The world you desire can be won. It exists.. it is real.. it is possible..
  • #1,327
  • Dec 15, 2014 12:27pm Dec 15, 2014 12:27pm
I have a bit of an early question, but let's just do it for fun seeing as how the market is being rather temperamental and forcing us to simply stay on the sidelines. What are your yearly prediction about the geppy? By the end of 2014 (i.e. end of Dec. 31), what price do you think the geppy will be at?

190? 195? 180?

And yes, I am bored.
  • #1,328
  • Dec 15, 2014 12:40pm Dec 15, 2014 12:40pm
Quoting Mr. Scott
GJ {image}
thank you sir for a symmetry post....important to my technique...always
  • #1,329
  • Dec 15, 2014 1:11pm Dec 15, 2014 1:11pm
Thanks for sharing chart guys. Comparing points of interest... Let's hope this rt doesnt go that far
  • #1,330
  • Dec 15, 2014 1:49pm Dec 15, 2014 1:49pm
While Fx-Ray said that the next support following the breach of this decision point will be around 181.1/10.90, I think we'll see a small bounce around 183, which was a repeatedly tested resistance back in the 3rd week of November (Nov 14-20). Of course, this is assuming we even get past the 183.90.

I currently have a short at 184.6. SL at slightly above break even.

Anyone else with positions on the geppy right now? Or are you all sitting back and waiting for the British data to come through?
  • #1,331
  • Dec 15, 2014 5:31pm Dec 15, 2014 5:31pm
Found something in an article I'd like to share:

Trading is not about control. It is about going with the flow.
Trading is not about knowing the future. It is about allowing the future to take place.
Trading is observation, pure and experiential. Thinking isn’t necessary and just gets in the way.
Trading is the glass half empty and the glass half full, alternating without rhyme or reason by the minute.
Trading is total ruin and absolute reward; dual demons that lurk around ever corner.
Trading is an alluring distraction from life or a life raft on the stormy search for self.
Trading is strangers offering up their most precious ideas.
Trading is the clueless trying to offer ideas to their friends.
Trading is your best friend who steals your spouse and your house.
Trading can send us to hell or to paradise, but it always takes us somewhere we have never been.
Trading is a blessing whose rules, if ignored, become a curse.
Trading is taking a knife to a gunfight. Knives and guns leave traces of blood, but the logic of the market is the weapon that manages to destroy without leaving clues. The mountain of trading is in the mind as the lake is level.
Trading is more about knowing when not to trade than it is about trading.
Trading seeks equilibrium.
Trading is learning a never ending balancing act on a tight wire above a movable abyss.
Trading is timing. Waiting is painful. Pain brings wisdom. Wisdom brings balance.
Trading can be excruciatingly exciting when done wrong and tauntingly tedious when done right.

– Jeff Cooper
  • #1,332
  • Dec 15, 2014 5:36pm Dec 15, 2014 5:36pm
Quoting FX-Ray
Trading can send us to hell or to paradise, but it always takes us somewhere we have never been.
Then Heaven it is. Ain't never been there.
Ghost Rider - WWTBMD?
  • #1,333
  • Dec 15, 2014 7:17pm Dec 15, 2014 7:17pm
Quoting Vermillion
I have a bit of an early question, but let's just do it for fun seeing as how the market is being rather temperamental and forcing us to simply stay on the sidelines. What are your yearly prediction about the geppy? By the end of 2014 (i.e. end of Dec. 31), what price do you think the geppy will be at? 190? 195? 180? And yes, I am bored.

I am all loaded and aiming at 189.350, back to where we were, should be achievable not too far from the top.
  • #1,334
  • Dec 15, 2014 8:03pm Dec 15, 2014 8:03pm
Quoting Forate
{quote} I am all loaded and aiming at 189.350, back to where we were, should be achievable not too far from the top.
same here loaded long aim 189.to reach that, uj needs start the pump. It needs to reach 121
  • #1,335
  • Dec 16, 2014 12:19am Dec 16, 2014 12:19am
Quoting praviiii
is it right ? {image}
wow going as per view...hope it will go more down
  • #1,336
  • Dec 16, 2014 12:31am Dec 16, 2014 12:31am
expecting D1 candle close above 184.13 to avoid further downward and the strong support till end of the year.
FOMC hawkish this week, UJ able to pump up and Gj followed by almost 140% pips from UJ pump.
passing through 118.8 is a good signal for Gj to up till 187 ish
  • #1,337
  • Dec 16, 2014 1:34am Dec 16, 2014 1:34am
Dang.... they a givin'away free money after lunchtime in Tokyo....
Did you know they do that AALLLL the time... A reversal......
  • #1,338
  • Dec 16, 2014 2:32am Dec 16, 2014 2:32am
Quoting praviiii
{quote} wow going as per view...hope it will go more down
wow going as per my view....100% reached in my chart
Attached Image (click to enlarge)
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  • #1,339
  • Dec 16, 2014 3:37am Dec 16, 2014 3:37am
A good/small read, found it somewhere though would share, about habits and psychology of trading.
Attached File(s)
File Type: pdf 7habits.pdf   62 KB | 420 downloads
  • #1,340
  • Dec 16, 2014 4:44am Dec 16, 2014 4:44am
Failed to test DP 181.10/80.90; next 183.90/70, if resistance next 181.10/80.90; if support and she is able to hold above, sentiment is up again, next 185.70/50 then; if fail to test 183.90/70, next still 181.90/70
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