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Dragon Riders GBP/JPY

  • #2,681
  • Jan 15, 2015 12:43am Jan 15, 2015 12:43am
keeping an eye on 178.81/91 and 178.26/33 this morning...
Look Sharp/Trade Tight
  • #2,682
  • Jan 15, 2015 1:05am Jan 15, 2015 1:05am
179.03.....b uy.........
  • #2,683
  • Jan 15, 2015 1:15am Jan 15, 2015 1:15am
THis market seems extremely flat. I see zero conviction either way. Might sit out till US session.
  • #2,684
  • Jan 15, 2015 1:31am Jan 15, 2015 1:31am
Good morning ... 179.60 rejected for now ... bought for retest.
Fix up, trade sharp ...
  • #2,685
  • Jan 15, 2015 3:52am Jan 15, 2015 3:52am
Holy crap that move. Even worse, that spread. Averaging 15 pips right now.

Lol, I am staying the hell away from this pair until it calms down. I have no idea what happened, but yeesh. GBP/USD/EUR all took a massive hit. The U/J seems the safest bet right now once it decides to reverse, since its spread is still relatively low, but yeesh! The banks are hating today!
  • #2,686
  • Jan 15, 2015 4:11am Jan 15, 2015 4:11am
Closed a GBP/JPY short 90 seconds before the chf blew up the markets.....missed out on a tonne of pips...oh well.....could have gone either way
  • #2,687
  • Jan 15, 2015 4:35am Jan 15, 2015 4:35am
Oh my goodness .... I just took an EUR/CHF scalping long order out of the market BEFORE this shit happened ... I would have been toast now.
Fix up, trade sharp ...
  • #2,688
  • Jan 15, 2015 5:12am Jan 15, 2015 5:12am
Quoting Hickson
Oh my goodness .... I just took an EUR/CHF scalping long order out of the market BEFORE this shit happened ... I would have been toast now.
Goodness gracious, I also had a long in place with stop in place, stop got hit with a bit of slippage and I am still smiling.

Man that move was unexpected but these CBs work like this. Now the question is what impact will it have on YEN pairs. GJ still holding about 177 with 177.40 working as a resistance at the minute. Will stay away for a while while this settles and see what happens after that. Trade safe!
  • #2,689
  • Jan 15, 2015 5:17am Jan 15, 2015 5:17am
Quoting workingforex
{quote} Goodness gracious, I also had a long in place with stop in place, stop got hit with a bit of slippage and I am still smiling. Man that move was unexpected but these CBs work like this. Now the question is what impact will it have on YEN pairs. GJ still holding about 177 with 177.40 working as a resistance at the minute. Will stay away for a while while this settles and see what happens after that. Trade safe!
I am not smiling. I just think how stupid it was to think: Oh, how far can it go, I just leave this little one with no SL for a few pips .... don't know how I was saved by intuition taking this one off yesterday ... I would have been busted, especially if they had demanded more money than in my account (could have been a few thousand after this extreme move, I do not know ... I could escape to some island now ... holy shit ... hands off the market before the panic is over and time to realize what just has happened.
Fix up, trade sharp ...
  • #2,690
  • Jan 15, 2015 5:25am Jan 15, 2015 5:25am
Quoting Hickson
{quote} I am not smiling. I just think how stupid it was to think: Oh, how far can it go, I just leave this little one with no SL for a few pips .... don't know how I was saved by intuition taking this one off yesterday ... I would have been busted, especially if they had demanded more money than in my account (could have been a few thousand after this extreme move, I do not know ... I could escape to some island now ... holy shit ... hands off the market before the panic is over and time to realize what just has happened.
It was the strong conviction of SNB in their latest statement about defending the peg at any cost a few days ago and now all of a sudden they just dropped the PEG.

To me it can point out one thing, there is something definitely coming up this 22nd from ECB - definitely. SNB know Euro will drop like a stone and it will be hard for them to defend it afterwards.

To be honest I was expecting a rate cut soon from SNB on 22nd itself but this is extreme they did today but again they can do what they think is right. I feel pity for people who must have gotten themselves caught in the situation. Hope you stay on the right side of the Euro as well.
  • #2,691
  • Jan 15, 2015 5:26am Jan 15, 2015 5:26am
WOW is all i can say...CHF...thank the lord I had 0 positions in that pair...I guess it goes to show, lesson here don't trust a central bank when fundamentals are extremely stacked against them. I exited my shorts for small profit in GBPJPY the other day, kind of bummed when shot up but happy now that it's back here, will add to longs at 177 again. Im seeing 176 though getting hit.
  • #2,692
  • Jan 15, 2015 8:15am Jan 15, 2015 8:15am
U.S. jobless claims were not good and other data was not promising either but the Nikkei rallied and Europe as well. If Europe closes well in the green in 2 hours, 45 min. GJ has a 70% chance for green close on the daily candle.
Be humble or be humbled.
  • #2,693
  • Jan 15, 2015 8:28am Jan 15, 2015 8:28am
Even CHF news couldnt take out 177.00 which reinforced my conviction thats the low.
If she can take out 178.55/45, next DP 179.10/00. If she breaks DP 179.10/00 significantly, uptrend is confirmed and im in at the low.
Well whatever happens, good luck everyone
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  • #2,694
  • Jan 15, 2015 8:31am Jan 15, 2015 8:31am
Good morning Ray! where were you on this volatile day.
  • #2,695
  • Jan 15, 2015 8:33am Jan 15, 2015 8:33am
Quoting workingforex
Good morning Ray! where were you on this volatile day.
Good morning,

just came back to my desk, had other business to take care of, I posted yesterday some levels for E/U those who got short at any of them had a great trade.
  • #2,696
  • Jan 15, 2015 8:48am Jan 15, 2015 8:48am
Quoting FX-Ray
Even CHF news couldnt take out 177.00 which reinforced my conviction thats the low. If she can take out 178.55/45, next DP 179.10/00. If she breaks DP 179.10/00 significantly, uptrend is confirmed and im in at the low. Well whatever happens, good luck everyone {image} {image}
still holding long from 177.50 avg price now scaled bit off before (wish took more but whatever) but yeah. 177 looking better and better, price stalling around 177.5 now couldn't even retest 177 before. I see this going up very shortly.
  • #2,697
  • Jan 15, 2015 8:48am Jan 15, 2015 8:48am
Quoting FX-Ray
Even CHF news couldnt take out 177.00 which reinforced my conviction thats the low. If she can take out 178.55/45, next DP 179.10/00. If she breaks DP 179.10/00 significantly, uptrend is confirmed and im in at the low. Well whatever happens, good luck everyone {image} {image}
I got out with a few pips, what I fear now is the Reuters/Michigan Consumer Index tomorrow. It's always been a big session driver with GJ. Expectations are too high. If this one dissapoints it will be the 175.50 area by Wed. of next week. However if not 177 holds I think.
Be humble or be humbled.
  • #2,698
  • Jan 15, 2015 9:00am Jan 15, 2015 9:00am
Quoting FX-Ray
{quote} Good morning, just came back to my desk, had other business to take care of, I posted yesterday some levels for E/U those who got short at any of them had a great trade.
Yes they were really good levels, where do you see Euro now, if you don't mind me asking. I am asking keeping 22nd in mind. Just wanted to know your take on that!
  • #2,699
  • Jan 15, 2015 9:09am Jan 15, 2015 9:09am
Quoting workingforex
{quote} Yes they were really good levels, where do you see Euro now, if you don't mind me asking. I am asking keeping 22nd in mind. Just wanted to know your take on that!
I mean it obvious its going down since 1.4000, 2430 pips so far, minimum bid rate is unchanged since Oct 2nd, sooner or later we get a bigger retracement but for now its going down, thats all I can say..
  • #2,700
  • Jan 15, 2015 9:20am Jan 15, 2015 9:20am
177 still holding...
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