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Dragon Riders GBP/JPY

  • #2,541
  • Jan 13, 2015 10:21am Jan 13, 2015 10:21am
Quoting FX-Ray
second long for 1.1830 {image}
if 1.1794 positive next probably 1.1810
  • #2,542
  • Jan 13, 2015 10:23am Jan 13, 2015 10:23am
Quoting FX-Ray
second long for 1.1830 {image}
Looks good, are they inversely correlated FX-Ray? Seems like GJ down, EU goes up.
Be humble or be humbled.
  • #2,543
  • Jan 13, 2015 10:23am Jan 13, 2015 10:23am
Quoting FX-Ray
{quote} if 1.1794 positive next probably 1.1810
out at 92
  • #2,544
  • Jan 13, 2015 10:24am Jan 13, 2015 10:24am
Quoting Temujin
{quote} Looks good, are they inversely correlated FX-Ray? Seems like GJ down, EU goes up.
tbh temujin, im just paying attention to the tickchart right now but I see no correlation so far.. Im just waiting for 180.40/30 or 179.10/00;

Add: Gut feeling tells me to stay away
  • #2,545
  • Jan 13, 2015 10:27am Jan 13, 2015 10:27am
pretty sure pro's targeting 1.1830, just a thought, if not today then tomorrow probably
  • #2,546
  • Jan 13, 2015 10:32am Jan 13, 2015 10:32am
Quoting 4xNewGuy
{quote} I think i was in the same boat on that one. I shorted at 179.50 during the move up. When I saw the next big jump up, I deleted my SL on that trade. I knew it was going to come back down in a little while, and entered another short around 179.90. I usually use a 30 pip stop with this pair, because the MM's can whip it around pretty big at times, but after seeing move the market like this in the past, and finding zero news to back up a major move, I figured they wanted to shake off the traders playing the RSI, and decided I was not going to...
I usually trade intraday and use what most people consider to be very tight stops -- 10-20 pips. I usually use very precise entries. On these trades I was planning to hold overnight and take advantage of what I thought would be a sell off on worse than expected CPI, so my entries were less than precise and I had 100 pip stops. I really should have let my profits run longer, but was happy to have a decent profit after being pretty far in the hole. Since it sounds like you are relatively new to trading, a couple of pieces of advice: Always trade with a stop. Never move your stop, except to lock in profits. Money management is boring but it is the key to success. Discipline is mandatory: keep your losses small and the profits will take care of themselves. Good luck trading, and keep following Dragon Riders -- he knows what he is doing.
  • #2,547
  • Jan 13, 2015 10:32am Jan 13, 2015 10:32am
Quoting FX-Ray
pretty sure pro's targeting 1.1830, just a thought, if not today then tomorrow probably
I cannot wait to see what will be announced on JAN 22nd. They say if the program is not 500 billion euros in scale EU will shoot way up. Will be very interesting to see all these parity and end of year 1.10 calls go up in smoke.
Be humble or be humbled.
  • #2,548
  • Jan 13, 2015 10:34am Jan 13, 2015 10:34am
The buy level is coming up on GJ. Looking for a big sink downward first.
Be humble or be humbled.
  • #2,549
  • Jan 13, 2015 10:36am Jan 13, 2015 10:36am
Quoting Temujin
{quote} I cannot wait to see what will be announced on JAN 22nd. They say if the program is not 500 billion euros in scale EU will shoot way up. Will be very interesting to see all these parity and end of year 1.10 calls go up in smoke.
Also dont trust parity now, seems everybody knows it which gives me a bad feeling, they may be right you know, but who knows anyway.
  • #2,550
  • Jan 13, 2015 10:38am Jan 13, 2015 10:38am
Quoting FX-Ray
{quote} Also dont trust parity now, seems everybody knows it which gives me a bad feeling, they may be right you know, but who knows anyway.
The dollar is very much due for a correction and EU is due for a huge retrace upward. The market is waiting for the cards to be flipped over then after all the QE is priced in within hours the euro will reverse.
Be humble or be humbled.
  • #2,551
  • Jan 13, 2015 10:40am Jan 13, 2015 10:40am
Quoting Temujin
{quote} The dollar is very much due for a correction and EU is due for a huge retrace upward. The market is waiting for the cards to be flipped over then after all the QE is priced in within hours the euro will reverse.
Sounds interesting, I like squeeze trades
  • #2,552
  • Jan 13, 2015 10:47am Jan 13, 2015 10:47am
Quoting FX-Ray
{quote} Sounds interesting, I like squeeze trades
This will be the biggest trade of 2015 up or down because on the U.S. side so much is already known about rate hikes. The unknown half on the Euro side is the size and scale of the QE. The market will adjust quickly after pricing it in for the last 2 months. Now there is also big talk of no rate increases on the USD side for all of 2015.
Be humble or be humbled.
  • #2,553
  • Jan 13, 2015 10:48am Jan 13, 2015 10:48am
Quoting Temujin
{quote} This will be the biggest trade of 2015 up or down because on the U.S. side so much is already known about rate hikes. The unknown half on the Euro side is the size and scale of the QE. The market will adjust quickly after pricing it in for the last 2 months. Now there is also big talk of no rate increases on the USD side for all of 2015.
Thanks mate, nice post Sooner or later, dont know when, old level like 1.3000 gonna get printed again. The question is only 'when'.
  • #2,554
  • Jan 13, 2015 10:52am Jan 13, 2015 10:52am
Quoting Temujin
{quote} Look at the H1 candles, 6.5 hours during N.Y. all of those candles are not green, nor red. Here comes the 11:00 H1 candle N.Y. time. Most likely green but next one will be red.
i still dont get it. i see an upward from ny open until 11:00
  • #2,555
  • Jan 13, 2015 10:58am Jan 13, 2015 10:58am
Quoting FX-Ray
{quote} Thanks mate, nice post Sooner or later, dont know when, old level like 1.3000 gonna get printed again. The question is only 'when'.
Thanks Ray, in the currency war no country wants any reason for large entities to buy up their money and drive the price up. Europe now has their negative rates so banks are penalized for accumulating euros, the U.S. countered that yesterday with maybe no rate increase for maybe all of this year. Banks are saying 1.15 now but after the 22nd there will be a medium of some kind reached. Draghi is really putting the scare on. I can imagine 1.15 after a massive operation is announced but not much lower.
Be humble or be humbled.
  • #2,556
  • Jan 13, 2015 11:00am Jan 13, 2015 11:00am
Still 4 hours in N.Y. to go, buy at 179 flat maybe? Idk.
Be humble or be humbled.
  • #2,557
  • Jan 13, 2015 11:06am Jan 13, 2015 11:06am
Quoting Sants
{quote} i still dont get it. i see an upward from ny open until 11:00
At least I am not the only one
Fix up, trade sharp ...
  • #2,558
  • Jan 13, 2015 11:07am Jan 13, 2015 11:07am
Quoting Hickson
{quote} At least I am not the only one
I took the bait, bought at 179.10
Be humble or be humbled.
  • #2,559
  • Jan 13, 2015 11:13am Jan 13, 2015 11:13am
Not bad, market makers ... but taking profit on my UJ longs earlier might have been a good decision now.
Fix up, trade sharp ...
  • #2,560
  • Jan 13, 2015 11:17am Jan 13, 2015 11:17am
Quoting Hickson
Not bad, market makers ... but taking profit on my UJ longs earlier might have been a good decision now.
UJ is cooked with that no rate increase speculation now, maybe GJ cooked with it. I'm gonna try to hold this loser for 179.30 some point here in the next 3.5 hours.
Be humble or be humbled.
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