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Dragon Riders GBP/JPY

  • #2,801
  • Jan 17, 2015 12:41am Jan 17, 2015 12:41am
Quoting Hickson
And for the records ... not ending the day on a positive note ... I was long on EUR/USD too early even though it made the anticipated upmove but that does not count yet ... however, no losses overall this week but pretty much break even which might even be a luxury into all this mess and stories of people here having to settle for private insolvency ... Have a good weekend while you still can. Sure you need some relaxed time after this week and we need to be strong next week as well in this crazy market environment, laters. {image}
Sure takes balls to buy the euro. I won't be buying it till at least 1.0 Not even for a quick trade. Soon I will put BE SL's on lots of entries that move to new lows and pyramid positions with 1.0 target.
  • #2,802
  • Jan 17, 2015 3:20am Jan 17, 2015 3:20am
Quoting Ck87
{quote} Sure takes balls to buy the euro. I won't be buying it till at least 1.0 Not even for a quick trade. Soon I will put BE SL's on lots of entries that move to new lows and pyramid positions with 1.0 target.
The problem is that techs do not work on Euro atm - at least not for me. The pair has been manipulated and went down almost without any retracement for over 1000 pips in barely a month. I see no point in trading this atm. Next week could become another blood bath I want to avoid.
Fix up, trade sharp ...
  • #2,803
  • Jan 17, 2015 3:21am Jan 17, 2015 3:21am
Quoting Geppy
{quote} Hicskson, I dig your candidness and openness about your trading. I had a tough week too, but managed to make a little money. Just updated the blog about it here: http://www.forexmademillionaire.com/...nce-1-16-2015/
Good job, funny how crazy Geppy was at least a pretty normal pair to trade during the madness lol
Fix up, trade sharp ...
  • #2,804
  • Jan 17, 2015 4:56am Jan 17, 2015 4:56am
Quoting Hickson
{quote} The problem is that techs do not work on Euro atm - at least not for me. The pair has been manipulated and went down almost without any retracement for over 1000 pips in barely a month. I see no point in trading this atm. Next week could become another blood bath I want to avoid.
Short only strategy is a must. Techs are working well for me.
  • #2,805
  • Jan 17, 2015 7:02am Jan 17, 2015 7:02am
I'm looking to short GBP/JPY on monday. Can't really go beyond the resistance level at 178 and a strong supply too. Too bad i have a small position with tight SL triggered my SL, should have set higher. Let's see how the price acting on next monday!
  • #2,806
  • Jan 17, 2015 10:50am Jan 17, 2015 10:50am
Quoting thegmann
{quote} Nice blog Gep. This week wasn't too hot for me either. Was up really good as well and let trades run against me (although I was planning on holding them for awhile) I also accidentally sent a wrong order through my phone and instead of setting a SL closed out a trade for like a 60 pip loss :S haha. All in all though no gain or loss. Pretty blah week which is actually a good thing when you consider some people that got burned on the CHF. Heck imagine if you were long USDCHF that was in nice uptrend x_X.
Yeah, tough week for everyone I think. Glad to hear you ended relatively unscathed.

Next week should be volatile, but hopefully tradeable. Looking forward to it!
check out my blog: forexmademillionaire dot com
  • #2,807
  • Jan 18, 2015 12:56am Jan 18, 2015 12:56am
Quoting Temujin
{quote} GMann, check out EUR/AUD. Fell 1,300 pips in 4.5 weeks. 140 level support? GBP/JPY has a 4 pip spread and it's damn expensive for an American to trade too.
eur/aud rocks.....it's the primary carry instrument. I swear
  • #2,808
  • Jan 19, 2015 6:58am Jan 19, 2015 6:58am
Quoting FX-Ray
Decision points calendar week 50 [GBP/JPY]: (1) 191.00/90.80 (10) 189.40/20 (11) 187.80/60 (100) 185.70/50 (101) 183.90/70 (110) 181.00/80.80 (111) 177.00/76.80 (1000) 173.90/70 (1001) 171.20/00 (1010) 169.10/68.90 (1011) 168.00/67.80 (1100) 167.40/20 Tuesday 9th can be interesting depending where price will be then. If next week market contain moderate volatility DP 191.00/90.80 and DP 187.70/50 should get printed in all probability. There is also a setup I keep in mind: If 191.00/90.80 gets printed and it sell off to 189.40/00 and breaks it strikingly...
FX-Ray,

is there any chance to get that template for some other pairs too? Like EJ, EU,GU perhaps? Have to tell your secret market profile algorithm works amazingly.
  • #2,809
  • Jan 19, 2015 7:29am Jan 19, 2015 7:29am
Quoting FX-Ray
back to 177.00, who bought here? Add; Maybe not today, but I think this thing is not done yet.. anyone im done for today, wish everyone a nice evening
hi bro

only for you!

http://www.forexfactory.com/attachme...9&d=1421669302



nice analysis her on the dragon
  • #2,810
  • Jan 19, 2015 8:28am Jan 19, 2015 8:28am
Quoting Gbp/jpy
{quote} eur/aud rocks.....it's the primary carry instrument. I swear
Yes, that is what I have noticed once I came in the market. However, it is not so easy to get a good entry - at least for me - on this pair.
Fix up, trade sharp ...
  • #2,811
  • Edited 8:49am Jan 19, 2015 8:37am | Edited 8:49am
Quoting Temujin
Consumer sentiment was parabolic 98 with a 94 expected. To me this means the support on the H4 and daily chart will hold. Long @ 177.64
I bought here from last Friday. Made 40 pips and onto the next. Now shorting CHF/JPY that teleported 2,500 pips to an all time high on Jordan's announcement.
Sell order filled @ 134.86. Long USD/CHF @ .8709, another overnight anomaly.
Be humble or be humbled.
  • #2,812
  • Jan 19, 2015 10:11am Jan 19, 2015 10:11am
But what now with the GBP.JPY......sell the 178.00 I suppose?.......11 am New York time
  • #2,813
  • Jan 19, 2015 10:15am Jan 19, 2015 10:15am
Quoting Gbp/jpy
But what now with the GBP.JPY......sell the 178.00 I suppose?.......11 am New York time
New York is closed today.
  • #2,814
  • Jan 19, 2015 10:28am Jan 19, 2015 10:28am
giving it a shot...don't think this downward move is completely done yet...Still seeing a retest of the 176 area. Short 178.220 SL 178.500 TP 176 range but pretty much open. Have long scale in 175.7.

Nice downward move right here. 178 buyers of course but if 178 falls there will be big drop and we will revisit at least 177.20
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  • #2,815
  • Jan 19, 2015 10:47am Jan 19, 2015 10:47am
80 pips on that CHF/JPY sell in just a couple hours and 50 on the USD/CHF long, not bad. Looking to buy GJ at the 177.80 area now.
Be humble or be humbled.
  • #2,816
  • Jan 19, 2015 10:51am Jan 19, 2015 10:51am
Quoting Temujin
80 pips on that CHF/JPY sell in just a couple hours and 50 on the USD/CHF long, not bad. Looking to buy GJ at the 177.80 area now.
easy does it at 177.80 Geppy's dropping fast now strong rejection off 178.35 area on 3rd retest.
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  • #2,817
  • Jan 19, 2015 10:54am Jan 19, 2015 10:54am
Yes, short. Stop at BE.

http://www.forexfactory.com/attachme...1&d=1421685276
Fix up, trade sharp ...
  • #2,818
  • Jan 19, 2015 10:57am Jan 19, 2015 10:57am
Quoting thegmann
{quote} easy does it at 177.80 Geppy's dropping fast now strong rejection off 178.35 area on 3rd retest. {image}
You're right, the range is much wider on this pair.

Not far enough from the high yet but that could be a sign selling is being absorbed.
Be humble or be humbled.
  • #2,819
  • Jan 19, 2015 11:00am Jan 19, 2015 11:00am
Quoting Temujin
{quote} You're right, the range is much wider on this pair.
Should be down now. Short again 177.820
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  • #2,820
  • Jan 19, 2015 11:01am Jan 19, 2015 11:01am
Quoting thegmann
{quote} Should be down now. {image}
Caps it nicely ... maybe the breakout was the last higher high for a while, so short still valid.
Fix up, trade sharp ...
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