Dragon Riders GBP/JPY | Page 71 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/JPY

Similar Threads

Enter The Dragon - GBP/JPY 2 replies

Info on the Borihei-Dragon Scalping System? 15 replies

The Dragon 441 replies

Scalping The Dragon 34 replies

***Dragon II*** 15 replies

Attachments: Dragon Riders GBP/JPY
Exit Attachments

Dragon Riders GBP/JPY

  • #1,401
  • Dec 17, 2014 3:45am Dec 17, 2014 3:45am
Quoting 4xNewGuy
Good news overall for the GBP, and it... drops. I swear I hate banks so much.
Learn my lesson long time ago, always out before the news.
  • #1,402
  • Dec 17, 2014 3:47am Dec 17, 2014 3:47am
Quoting smash1820
{quote} You need to try to trade from the banks point of view
Well, no loss on my part fortunately. Broke even on it. Shouldn't have even touched this pair anyways, so I'll just count my blessings on this one.
  • #1,403
  • Dec 17, 2014 3:48am Dec 17, 2014 3:48am
Quoting Ata-Turkoglu
It is because the biggest banks have booked their buy orders way below the market price and so it will never go up before these get filled. The biggest elephant sits at very bottom on bullish markets so that he can buy for the lowest value possible. Happy Trades
Actually, this is not entirely true... You are correct that banks were already long before the release of the news.

However, the news serves another purpose as well: to fool and trick retail FX traders. They make you think as soon as the news comes out, it's a SELL, SELL, SELL, when in reality, this just allows them to add even more to their long positions, at a better price than the retail trader, while also hitting their stops in the process.

You have to remember that from the bank's point of view, it's all about scamming you out of your money so they can make theirs.

PS: Your choice of words had me a bit confused, but you are absolutely correct. The banks orders are very likely so big that they cannot fill it all at once, and so they need to rely on the stupid ignorant retail traders like the majority of us here in order to actually complete their orders...
Please check out my blog at https://from-zero-to-hero . net
  • #1,404
  • Dec 17, 2014 3:53am Dec 17, 2014 3:53am
Quoting smash1820
{quote} Actually, this is not entirely true... You are correct that banks were already long before the release of the news. However, the news serves another purpose as well: to fool and trick retail FX traders. They make you think as soon as the news comes out, it's a SELL, SELL, SELL, when in reality, this just allows them to add even more to their long positions, at a better price than the retail trader, while also hitting their stops in the process. You have to remember that from the bank's point of view, it's all about scamming you out of your...
Couldn't explain better..

Happy Trades
Focus only on what truly matters!
  • #1,405
  • Dec 17, 2014 3:58am Dec 17, 2014 3:58am
Do the majority here still believe GJ will go up soon? I will hold my long position from 184.15 if so.. otherwise I just close it off. ??? Any thoughts?

Happy Trades
Focus only on what truly matters!
  • #1,406
  • Dec 17, 2014 4:00am Dec 17, 2014 4:00am
Quoting Ata-Turkoglu
Do the majority here still believe GJ will go up soon? I will hold my long position from 184.15 if so.. otherwise I just close it off. ??? Any thoughts? Happy Trades
It doesn't matter what the majority thinks. The majority is usually wrong. It only matters what YOU think, and, more importantly, what you KNOW.

But to answer your question, Yes, GJ will very likely go up, even moreso by the time the S&P 500 opens in about 5.5 hours. Hold on, sir... The longer, the better...
Please check out my blog at https://from-zero-to-hero . net
  • #1,407
  • Dec 17, 2014 4:01am Dec 17, 2014 4:01am
Quoting Ata-Turkoglu
Do the majority here still believe GJ will go up soon? I will hold my long position from 184.15 if so.. otherwise I just close it off. ??? Any thoughts? Happy Trades
I'm expecting a potential test of lower...although, if you can withstand a retest of 181 or going as far down as 180, I guess it's worth a shot. We're almost done with the correction; probably one more downwards movement before going back up.

I can't say anything for sure until FOMC comes out in 9 hours. That always moves markets.
  • #1,408
  • Dec 17, 2014 4:03am Dec 17, 2014 4:03am
Quoting heriyadi
{quote} Learn my lesson long time ago, always out before the news.
Hard lesson for me too in the past, but still sometimes my finger feels itchy to place order while knowing news is going to come,
beside technical and fundamental knowledge, patience is really a virtue here.
by the way, are you from Indonesia Heriyadi?
  • #1,409
  • Dec 17, 2014 4:04am Dec 17, 2014 4:04am
Quoting smash1820
{quote} It doesn't matter what the majority thinks. The majority is usually wrong. It only matters what YOU think, and, more importantly, what you KNOW. But to answer your question, Yes, GJ will very likely go up, even moreso by the time the S&P 500 opens in about 5.5 hours. Hold on, sir... The longer, the better...
Quoting Vermillion
{quote} I'm expecting a potential test of lower...although, if you can withstand a retest of 181 or going as far down as 180, I guess it's worth a shot. We're almost done with the correction; probably one more downwards movement before going back up. I can't say anything for sure until FOMC comes out in 9 hours. That always moves markets.
Thanks to both of you.. yes smash I normally make detailed analysis on GJ.. but this time I was too busy with dax.. just jumped in with the release of news.. silly but it works most of the time for me.. this time it was delayed at BRN 184.000 so I was suspicious since I can't see any bull power yet...

Happy Trades
Focus only on what truly matters!
  • #1,410
  • Dec 17, 2014 4:12am Dec 17, 2014 4:12am
Quoting Idkurv
{quote} Hard lesson for me too in the past, but still sometimes my finger feels itchy to place order while knowing news is going to come, beside technical and fundamental knowledge, patience is really a virtue here. by the way, are you from Indonesia Heriyadi?
Yes, I'm from Indonesia
  • #1,411
  • Dec 17, 2014 4:19am Dec 17, 2014 4:19am
Quoting Ata-Turkoglu
Do the majority here still believe GJ will go up soon? I will hold my long position from 184.15 if so.. otherwise I just close it off. ??? Any thoughts? Happy Trades
I am seeking to get long, not comfortable to get long at current price..will see..
missed the train at 182.00
  • #1,412
  • Dec 17, 2014 4:24am Dec 17, 2014 4:24am
Quoting Idkurv
{quote} I am seeking to get long, not comfortable to get long at current price..will see.. missed the train at 182.00
(I) 181.80/70
(II) 179.90/80
(III)178.10/00

If 185.50/40 or 184.70/60 resistance she may test those.
  • #1,413
  • Dec 17, 2014 4:28am Dec 17, 2014 4:28am
Quoting Idkurv
{quote} I am seeking to get long, not comfortable to get long at current price..will see.. missed the train at 182.00
184.46 looks like will be a pain in the a**.. so I try to hold my position moved SL to BE now..

Happy Trades
Focus only on what truly matters!
  • #1,414
  • Dec 17, 2014 4:40am Dec 17, 2014 4:40am
E/U about to test 1.2345/40 and 1.2240/35 ► if 1.2450/45 gets taken out
  • #1,415
  • Dec 17, 2014 4:50am Dec 17, 2014 4:50am
Quoting FX-Ray
E/U about to test 1.2345/40 and 1.2240/35 ► if 1.2450/45 gets taken out
I like the sound of it, you holding on the shorts from 1.2525 ?
  • #1,416
  • Dec 17, 2014 4:51am Dec 17, 2014 4:51am
Quoting workingforex
{quote} I like the sound of it, you holding on the shorts from 1.2525 ?
You got me curious dude, I never told anyone I shorted there..
  • #1,417
  • Dec 17, 2014 4:54am Dec 17, 2014 4:54am
trying long here though..2450/45
  • #1,418
  • Dec 17, 2014 4:56am Dec 17, 2014 4:56am
Quoting FX-Ray
E/U about to test 1.2345/40 and 1.2240/35 ► if 1.2450/45 gets taken out
Morning Ray, just curious here. If it gets taken out on what TF?

Thanks for the video brother. Very entertaining and I hope he RIP.
Ghost Rider - WWTBMD?
  • #1,419
  • Dec 17, 2014 4:57am Dec 17, 2014 4:57am
I get the distinct impression the yen pairs are waiting for stocks (S&P 500) and U.S. data to come through. Honestly, there's been little movement since the overall good news for the pound sterling.

Oh well. So.....question is, what to do for the next 3-4 hours...
  • #1,420
  • Dec 17, 2014 4:58am Dec 17, 2014 4:58am
Quoting albchr
{quote} Morning Ray, just curious here. If it gets taken out on what TF? Thanks for the video brother. Very entertaining and I hope he RIP.
Price is the same on all TF's.

You're welcome bro, thought you would like it, too bad I was 10 years old when he passed.
8 traders viewing now