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Dragon Riders GBP/JPY

  • #3,001
  • Jan 28, 2015 7:15pm Jan 28, 2015 7:15pm
Quoting IveGotQuads
{quote} Another lost opportunity to add to long position...got home a little late. But opportunities may abound in the London session. If we can have a ranging session around 178.55 /15 the London traders might send this around the 178.00 /20 level for liquidity before taking off north. one can only hope price action doesn't decide to break up to the next zone at 179.20 without picking us up. 1Hour Time Frame {image}
Expect a retest of 177.70~178.00. I have a feeling the lower 178 will be a hotzone, with 178.35/45 being the center between a bull vs bear fight.

I see an opportunity for both bulls and bears to scalp this thing for 30-40 pips on each swing.

And don't worry about losing an opportunity. At least you didn't literally throw it away like I did. I got cold feet at the initial chart movement in the upper 177s. It could have potentially gone down after hitting 178/178.1, so I just TPed early.
  • #3,002
  • Jan 28, 2015 7:30pm Jan 28, 2015 7:30pm
Quoting Vermillion
{quote} Expect a retest of 177.70~178.00. I have a feeling the lower 178 will be a hotzone, with 178.35/45 being the center between a bull vs bear fight. I see an opportunity for both bulls and bears to scalp this thing for 30-40 pips on each swing. And don't worry about losing an opportunity. At least you didn't literally throw it away like I did. I got cold feet at the initial chart movement in the upper 177s. It could have potentially gone down after hitting 178/178.1, so I just TPed early.
Yeah you should have a plan before getting in the market rather than using discretion as most often than not you will make errors. Having the market stop you out at break-even or Take profit is optimal in my opinion. The third time you could do that is a "Timed" trade. Anyway i'm done looking at the charts, may check in later during Frankfurt. Later
  • #3,003
  • Jan 28, 2015 9:45pm Jan 28, 2015 9:45pm
OK....git your trading chair up close....some action i bet by London Open.....today and tomorrow
  • #3,004
  • Jan 28, 2015 10:56pm Jan 28, 2015 10:56pm
It's midnite in New York.....buy aud....77 pips, maybe here.....OH.....go poundyen.....
  • #3,005
  • Jan 29, 2015 12:19am Jan 29, 2015 12:19am
15M chart has a down move underway........from 178.11
  • #3,006
  • Jan 29, 2015 4:58am Jan 29, 2015 4:58am
Quoting IveGotQuads
{quote} Another lost opportunity to add to long position...got home a little late. But opportunities may abound in the London session. If we can have a ranging session around 178.55 /15 the London traders might send this around the 178.00 /20 level for liquidity before taking off north. one can only hope price action doesn't decide to break up to the next zone at 179.20 without picking us up. 1Hour Time Frame {image}
Hope you guys got in.... And I know a lot of traders might have sold at that level 178.20/00 not saying you are wrong just considering what is high probability. Hopefully the position gets momentum and pushes to the next zone up at 179.20 By now new position should be at Break even, Well i'm done for the day hope we all make pips whichever direction we choose. Good luck
  • #3,007
  • Jan 29, 2015 5:19am Jan 29, 2015 5:19am
Quoting Hickson
{quote} It is such a thing with Geppy ... if you have the stops too wide, you lose too much if the position is not small. If it is too close, you will probably be stopped out. So I guess even for scalping this 20 pip SLs are probably needed lol ... I have not been trading much Geppy lately, but that is my take on it ... do you have some rule of thumb for your stops on it or just decide from time to time?
Regarding stop adjustment this is what Ray would tell me!

http://www.forexfactory.com/showthre...35#post7931535, it is quite an effective to adjust stops with Geppy. Only thing is Fx-Ray is not there these days, so I look for DPs on my own and look for T/B/T (test/break/test) levels and adjust accordingly. Hope it makes sense!
  • #3,008
  • Jan 29, 2015 5:23am Jan 29, 2015 5:23am
Quoting IveGotQuads
{quote} Another lost opportunity to add to long position...got home a little late. But opportunities may abound in the London session. If we can have a ranging session around 178.55 /15 the London traders might send this around the 178.00 /20 level for liquidity before taking off north. one can only hope price action doesn't decide to break up to the next zone at 179.20 without picking us up. 1Hour Time Frame {image}
Nice analysis there, you will definitely get your entry buddy!

Just for a read

http://www.orderflowtrading.com/Arti...-to-Fight.aspx

I feel, there is nothing like lost opportunity in trading, you get plenty full, you just have to look in the right direction.
  • #3,009
  • Jan 29, 2015 6:44am Jan 29, 2015 6:44am
Quoting workingforex
{quote} Nice analysis there, you will definitely get your entry buddy! Just for a read http://www.orderflowtrading.com/Arti...-to-Fight.aspx I feel, there is nothing like lost opportunity in trading, you get plenty full, you just have to look in the right direction.
Nice article, I will read it entirely after work! Meanwhile got long again on Geppy and want to add if 178.20 holds.
Fix up, trade sharp ...
  • #3,010
  • Jan 29, 2015 8:31am Jan 29, 2015 8:31am
+45 ... i'll take it
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  • #3,011
  • Edited 9:28am Jan 29, 2015 9:10am | Edited 9:28am
Im in long 178.20 worth a shot bottom could be set...only time will tell of course. We could go back and range back to 176 or even make new lows. But long looks worth a shot here.

edit: Dunno what went down but im out of this trade JPY pairs going bit crazy.
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  • #3,012
  • Jan 29, 2015 9:37am Jan 29, 2015 9:37am
Short from 178.43 Trying to gain an understanding of daily candles now in relation to the H4 and H1. Below 178 revealed again. Lower I say. Surely in a downtrend. Fundamentals drivers are bearish too. Syriza, The DOW at a top of 18,000 and unable to break it, FOMC and dollar bulls still strong. To top it all off there is no new stimulus from The BOJ until June.
Be humble or be humbled.
  • #3,013
  • Jan 29, 2015 9:38am Jan 29, 2015 9:38am
My long has been S/O at BE ... this current Geppy play is a whole chop. No wonder that FX-Ray is gone lol ...
Fix up, trade sharp ...
  • #3,014
  • Jan 29, 2015 9:41am Jan 29, 2015 9:41am
Quoting Temujin
Short from 178.43 Trying to gain an understanding of daily candles now in relation to the H4 and H1. Below 178 revealed again. Lower I say. Surely in a downtrend.
Very critical what happens with this current daily candle. Right on the line @ 178 fib and important pivot point, above it we go up below it we go down. Upside is slowly fading away more and more. Looks like we will stay ranging or make a LL possibly
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  • #3,015
  • Jan 29, 2015 9:42am Jan 29, 2015 9:42am
Quoting Hickson
My long has been S/O at BE ... this current Geppy play is a whole chop. No wonder that FX-Ray is gone lol ...
Haha! I do that at times too and go back to AUD. A pair that is not Bi-polar or Schizo.
Be humble or be humbled.
  • #3,016
  • Jan 29, 2015 9:44am Jan 29, 2015 9:44am
Quoting Temujin
{quote} Haha! I do that at times too and go back to AUD. A pair that is not Bi-polar or Schizo.
I do not know mate ... I am not good with AUD pairs I guess ... might turn one day.
Fix up, trade sharp ...
  • #3,017
  • Jan 29, 2015 9:44am Jan 29, 2015 9:44am
Throw a 14 EMA period on your chart and look at the daily candles. Umm yeah, not very cavalier to rise above.
Be humble or be humbled.
  • #3,018
  • Jan 29, 2015 9:45am Jan 29, 2015 9:45am
Quoting thegmann
{quote} Very critical what happens with this current daily candle. Right on the line @ 178 fib and important pivot point, above it we go up below it we go down. Upside is slowly fading away more and more. Looks like we will stay ranging or make a LL possibly {image} {image}
I disagree. Price's key support is at the fib area 177.80 +/- 20 pips. 178 can and has been broken in prior cases, so breaching 178 doesn't mean it has to go down. Things will get dicey, though.

I'm more concerned about the market reaction to positive unemployment claims; if the usd/jpy and gbp/jpy simply ignore them and push downwards, I think 175.70 and possibly lower will be the target; a bearish sentiment that strong might not stop at 177.20/00
  • #3,019
  • Jan 29, 2015 9:49am Jan 29, 2015 9:49am
DP here but looking to buy again if this holds.
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  • #3,020
  • Jan 29, 2015 9:51am Jan 29, 2015 9:51am
Quoting Vermillion
{quote} I disagree. Price's key support is at the fib area 177.80 +/- 20 pips. 178 can and has been broken in prior cases, so breaching 178 doesn't mean it has to go down. Things will get dicey, though. I'm more concerned about the market reaction to positive unemployment claims; if the usd/jpy and gbp/jpy simply ignore them and push downwards, I think 175.70 and possibly lower will be the target; a bearish sentiment that strong might not stop at 177.20/00
The Resistance area used to be 180, now it's 179, soon who knows.
Be humble or be humbled.
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