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Dragon Riders GBP/JPY

  • #1,761
  • Jan 6, 2015 3:48am Jan 6, 2015 3:48am
Cable data supported the move probably ... I shorted this on several attempts at 186-185 but nothing worked. I am really amazed how the market makers always manage to move it the way even intelligent retail traders (far more intelligent than myself) will not catch the move. And they do this at the most surprising moments. Timing is everything in trading for me.
Fix up, trade sharp ...
  • #1,762
  • Jan 6, 2015 3:49am Jan 6, 2015 3:49am
Quoting FX-Ray
{quote} There are no fundamental changes, its sentiment. You got that right.
That is what I though but still the UK election and fear of hung parliament are playing on my mind and in case they again start trumpeting around exiting EU zone, can have an affect, so need to be careful. Better be safe than sorry!
  • #1,763
  • Jan 6, 2015 3:50am Jan 6, 2015 3:50am
Im no expert in this, but yesterday we had a bollinger band breakout on daily, an so far todays daily candle are pretty steep, but considering the level we are at im considering long position.

If i decide to do so, I will protect my trade by a small SL in case the price dosent rise it may fall hard and quick.
  • #1,764
  • Jan 6, 2015 3:51am Jan 6, 2015 3:51am
Is this GBP/JPY going to give us retrace or not, what a blood bath on this pair!
  • #1,765
  • Edited 4:08am Jan 6, 2015 3:57am | Edited 4:08am
Quoting workingforex
{quote} That is what I though but still the UK election and fear of hung parliament are playing on my mind and in case they again start trumpeting around exiting EU zone, can have an affect, so need to be careful. Better be safe than sorry!
DPs 180.90/80; 179.90/80 and 179.30/20 are crucial, if you go back and check the stat you will see this area is very low compared to the others, it does mean price could not stay there for long which means liquidity. Sentiment may change in these area and we see a continuation of the fundamental trend or a continuation of sentiment.

Add: Remember when BOJ dropped 80 trillion? Check here The close of that day (2014.10.31) is also in that area (179.63)
  • #1,766
  • Jan 6, 2015 3:57am Jan 6, 2015 3:57am
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #1,767
  • Jan 6, 2015 4:03am Jan 6, 2015 4:03am
Quoting Carl7816
Is this GBP/JPY going to give us retrace or not, what a blood bath on this pair!
Well this is not the only pair.

GBPUSD also had a blood bath, wonder if their are some smart money knowing something bad is going to happend with UK

USDJPY started to show weakness and XAUUSD had some strength lately, makes me wonder if EURUSD are worth buying.
  • #1,768
  • Jan 6, 2015 4:16am Jan 6, 2015 4:16am
Quoting FX-Ray
{quote} DPs 180.90/80; 179.90/80 and 179.30/20 are crucial, if you go back and check the stat you will see this area is very low compared to the others, it does mean price could not stay there for long which means liquidity. Sentiment may change in these area and we see a continuation of the fundamental trend or a continuation of sentiment. Add: Remember when BOJ dropped 80 trillion? Check...
Love the way you reference everything.

Yes that is correct and makes 100% sense to me, have gone long at 180.90, will add more if it goes near 177.00 area. Will keep posting. Are you still holding your shorts ?
  • #1,769
  • Jan 6, 2015 4:19am Jan 6, 2015 4:19am
Quoting workingforex
{quote} Love the way you reference everything. Yes that is correct and makes 100% sense to me, have gone long at 180.90, will add more if it goes near 177.00 area. Will keep posting. Are you still holding your shorts ?
You should have waited here mate, am watching 180.40/30 for now. If it holds as support we may see a test of 180.90/80, from there it depends if we go further up or down. Current level is kinda a measure for strenght or weakness. She may continue to 179.90/80 though.
  • #1,770
  • Jan 6, 2015 4:21am Jan 6, 2015 4:21am
got long at 40ish, if she continue up I'll add, if not Im going to bail out.
  • #1,771
  • Jan 6, 2015 4:23am Jan 6, 2015 4:23am
Quoting workingforex
{quote} Love the way you reference everything. Yes that is correct and makes 100% sense to me, have gone long at 180.90, will add more if it goes near 177.00 area. Will keep posting. Are you still holding your shorts ?
yes short stops are above DP 180.90/80
  • #1,772
  • Jan 6, 2015 4:30am Jan 6, 2015 4:30am
Quoting FX-Ray
{quote} yes short stops are above DP 180.90/80
Think they are going to get hit in next 30 min.
  • #1,773
  • Jan 6, 2015 4:31am Jan 6, 2015 4:31am
Quoting workingforex
{quote} Think they are going to get hit in next 30 min.
Fine with me, got a good portion of that down move
  • #1,774
  • Jan 6, 2015 4:34am Jan 6, 2015 4:34am
Quoting FX-Ray
{quote} Fine with me, got a good portion of that down move
Yes that was a very good move and only few people saw that coming. Well done on that!
  • #1,775
  • Jan 6, 2015 4:36am Jan 6, 2015 4:36am
Quoting workingforex
{quote} Yes that was a very good move and only few people saw that coming. Well done on that!
Me neither, just traded along the DPs. Nobody knows the future.
  • #1,776
  • Jan 6, 2015 4:38am Jan 6, 2015 4:38am
Quoting FX-Ray
{quote} Me neither, just traded along the DPs. Nobody knows the future.
True! Well 180.40 holding nicely, lets see how it goes!
  • #1,777
  • Jan 6, 2015 4:42am Jan 6, 2015 4:42am
Quoting workingforex
{quote} True! Well 180.40 holding nicely, lets see how it goes!
Need to see a strong upmove above 180.90/80 to be convinced to hold that or add.
  • #1,778
  • Jan 6, 2015 4:49am Jan 6, 2015 4:49am
seems to me like consolidation, may a bit lower, and then possibly up (assuming GBP doesn't weaken even more). The only thing is IMO, that to move up a weaker Yen is probably necessary (not just stronger USD). And there's nothing to FURTHER stimulate that for ~ 2 weeks (unless something unscheduled comes across the wire from Japan). Or of course, a healthy dose of risk aversion kicks in. A buy seems to have better RR IMO - but probably not quite yet.
  • #1,779
  • Jan 6, 2015 5:00am Jan 6, 2015 5:00am
  •  turnfx
  • | Joined Dec 2014 | Status: Only money management is the key of | 334 Posts
it still hold on 180.40 let see whats next
  • #1,780
  • Jan 6, 2015 5:02am Jan 6, 2015 5:02am
Something is moving it to the upside breaking minor channel lines.
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