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Dragon Riders GBP/JPY

  • #2,881
  • Jan 20, 2015 8:59am Jan 20, 2015 8:59am
Quoting Temujin
137 has now been broken, broken on EUR/JPY. 28 pips thus far.
35 pips now. Our little experiment has been fruitful. Hopefully the ECB will put a heavy hand upon the pair. 3 days later the Syriza party in Greece will take power and smash the support lines putting 133 in view.
Be humble or be humbled.
  • #2,882
  • Jan 20, 2015 7:01pm Jan 20, 2015 7:01pm
That 7:42 trade wins again......it's the end of the world as we know it but.....the 7:42 trade still kickin'
  • #2,883
  • Jan 20, 2015 8:37pm Jan 20, 2015 8:37pm
if we get a daily close above 178.810 I will jump long again. However, i'm hoping we move lower towards 177.
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  • #2,884
  • Jan 20, 2015 8:47pm Jan 20, 2015 8:47pm
Quoting thegmann
if we get a daily close above 178.810 I will jump long again. However, i'm hoping we move lower towards 177. {image}
Agreed. An even better spot would be in the 175s (doesn't matter where; I'll take any long and just leave it there for the next 2-3 weeks and watch the profit roll in). Sadly, with the recent bounce up, there's a good chance it won't happen.

I've managed to get two shorts: One at 180.100, and one at 179.524. Locked in a few dozen pips in profits. Anyone else also shorting this thing?
  • #2,885
  • Jan 20, 2015 8:57pm Jan 20, 2015 8:57pm
Quoting Vermillion
{quote} Agreed. An even better spot would be in the 175s (doesn't matter where; I'll take any long and just leave it there for the next 2-3 weeks and watch the profit roll in). Sadly, with the recent bounce up, there's a good chance it won't happen. I've managed to get two shorts: One at 180.100, and one at 179.524. Locked in a few dozen pips in profits. Anyone else also shorting this thing?
Sure am I shorted at 179.23 to 178.60 on the last hourly nice quick 40 pip.
  • #2,886
  • Jan 20, 2015 9:06pm Jan 20, 2015 9:06pm
Quoting Temujin
Here is a crazy trade idea for the ECB news Thursday; take small leverage and sell EUR/JPY. Been up 3 solid days and 300 pips so far from the low. Analysts say the euro is rising because traders are skeptical about the size of the program. As Thurday draws near let's see if they remain long. I don't think so. Before the news there will be a huge sell candle as they abandon ship.
The sell in N.Y. earlier today has yielded 90 pips from 137.24. Price is currently around 136.30.
Be humble or be humbled.
  • #2,887
  • Jan 20, 2015 9:25pm Jan 20, 2015 9:25pm
Quoting Temujin
{quote} The sell in N.Y. earlier today has yielded 90 pips from 137.24. Price is currently around 136.30.
Nice; more power to you, man. I just didn't have the courage to short the euro with the ECB conference looming overhead.
  • #2,888
  • Jan 20, 2015 9:28pm Jan 20, 2015 9:28pm
Could see 50% retest at 178. I would expect a lot of buyers at that level. Big struggle here at 38.2 retrace.
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  • #2,889
  • Edited 9:44pm Jan 20, 2015 9:31pm | Edited 9:44pm
Quoting thegmann
Could see 50% retest at 178. I would expect a lot of buyers at that level. {image}
Could be. We'll have to breach 178.40/30 first; that's the initial block holding the move downwards. If 178 is gone though, it's back to 177.10/00 and 176.00 after that.
How are my decision points holding up to yours? Do you have similar supports?
  • #2,890
  • Edited 10:27pm Jan 20, 2015 9:41pm | Edited 10:27pm
Quoting Vermillion
{quote} Could be. We'll have to breach 178.40/30 first; that's the initial block holing the move downwards. If 178 is gone though, it's back to 177.10/00 and 176.00 after that. How are my decision points holding up to yours? Do you have similar supports?
Yeah 178.4/30 is big support zone. I actually just initiated a small long here. We are retesting big support zone that we had huge rising triangle breakout from. Still respecting trendline on 1hr. We'll see what happens, may put a SL at 178 or slightly below.

edit: Put SL 177.50 if we hit this I would assume we are going for LL's and best to stand aside.
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  • #2,891
  • Jan 20, 2015 9:46pm Jan 20, 2015 9:46pm
Quoting thegmann
{quote} Yeah 178.4/30 is big support zone. I actually just initiated a small long here. We are retesting big support zone that we had huge rising triangle breakout from. Still respecting trendline on 1hr. We'll see what happens, may put a SL at 178 or slightly below. {image}
BOJ conference will tell all. That'll be the decision maker as to whether we resume the immediate move up, or continue down for the time being. And then we'll get the mother of all bombs with the ECB. I just hope they don't pull another stunt like the SNB; the last thing I want is the European Central Bank to start something really stupid in desperation.
  • #2,892
  • Jan 20, 2015 10:03pm Jan 20, 2015 10:03pm
Quoting Vermillion
{quote} BOJ conference will tell all. That'll be the decision maker as to whether we resume the immediate move up, or continue down for the time being. And then we'll get the mother of all bombs with the ECB. I just hope they don't pull another stunt like the SNB; the last thing I want is the European Central Bank to start something really stupid in desperation.
The world's in for a real shock in the coming years. I have a feeling SNB will look like a tiny ripple in an ocean compared to what the ECB and FED are going to cook up in the years to come. Central banks are in a horrible spot, stop the printing and the Markets crumble, keep printing and the average folk keep getting poorer and poorer and poorer...
  • #2,893
  • Jan 20, 2015 10:17pm Jan 20, 2015 10:17pm
ought oh....Euro's popping a little but should hopefully be all good now...at big support/resistance zones across the pairs.
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  • #2,894
  • Edited 11:21pm Jan 20, 2015 10:57pm | Edited 11:21pm
Testing the 178.00 zone; we've had a initial breach of 178.30/40. Let's see where it goes. It does worry me, however, that this happens right during the BOJ conference. Depending on the outcome, we may even see an immediate bounce back up. I wouldn't take shorts right now, and make sure to lock in whatever profits I haveat the moment.

Edit: and yet once again, the BOJ delivers.....nothing really new. I've got nothing about trading the news right now. I'll just see how it plays out. Currently standing by with my shorts set to TP partials at 177, locked in several dozen pips in profit, and got buy limits at around 175.

Business as usual, albeit an annoying one. Tested 178 with the conference, but nothing lower. I was hoping the press conference would yield more interesting reactions from the market. I would love to get a long at around 175; that price is too golden for me in terms of r:r for your monthly-term trades.
  • #2,895
  • Jan 20, 2015 11:06pm Jan 20, 2015 11:06pm
Quoting Vermillion
Testing the 178.00 zone; we've had a initial breach of 178.30/40. Let's see where it goes. It does worry me, however, that this happens right before the BOJ conference. Depending on the outcome, we may even see an immediate bounce back up. I wouldn't take shorts right now, and make sure to lock in whatever profits I haveat the moment.
indeed.... As usual should have went with my 2nd choice of entry (178 instead of 178.5) but what can you do, i'm sure my stop will get hit at 177.5 before I wake up tomorrow anyways. Looks like down we go, oh well I tried. Seems most orders I place go against me 30+ pips in the opposite direction rofl, would of had a nice short entry hahaha.
  • #2,896
  • Jan 21, 2015 1:30am Jan 21, 2015 1:30am
Quoting openyoureyes
short x/jpy basket all tight SL // SL: 180.090 don't want this to get hit {image} {image}
no SL,
maybe switch to long soon.

watching close...
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  • #2,897
  • Jan 21, 2015 1:32am Jan 21, 2015 1:32am
and I did not switch =)
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  • #2,898
  • Jan 21, 2015 1:34am Jan 21, 2015 1:34am
Quoting openyoureyes
{quote} no SL, maybe switch to long soon. watching close... {image}
???
Fix up, trade sharp ...
  • #2,899
  • Jan 21, 2015 1:55am Jan 21, 2015 1:55am
Since I pretty new to forex.
Can you explain why gbp is flat weaker despite a good report number?
Because the increse interest vote is change?
  • #2,900
  • Jan 21, 2015 2:02am Jan 21, 2015 2:02am
switched to long, tight sl
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