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Dragon Riders GBP/JPY

  • #3,281
  • Feb 5, 2015 8:49am Feb 5, 2015 8:49am
Quoting Ata-Turkoglu
{quote} Thanks.. yes I had some serious losers in the past.. especially 2010 was really frustrating, like the darkest hour.. but after that, thanks to God, I saw the light and climbed out of the cave I was in..
nice work mate!!

you only trade GJ or also EJ EU GU??

Greetz michael
  • #3,282
  • Feb 5, 2015 8:50am Feb 5, 2015 8:50am
Quoting whatever007
{quote} Dang sounds like I have a lot more work to do, glad to hear it can be done though.
Of course it can be done.. continue recognizing patterns.. know the indicators you are using better than anyone else could do in this world.. and till you become a master never trade against the trend, in my case, since I am an ichimoku fan.. unless you have no good clue, never go short above the cloud or long below.. the summary of my strategy..

Happy Trades
Focus only on what truly matters!
  • #3,283
  • Feb 5, 2015 8:53am Feb 5, 2015 8:53am
Quoting mwsteiner
{quote} nice work mate!! you only trade GJ or also EJ EU GU?? Greetz michael
My broker keeps spread low on UJ and GJ and AU but since ichimoku works great with Yen I stick to these two: UJ and GJ, but I am also trading the DAX and the Dow futures.

Happy Trades
Focus only on what truly matters!
  • #3,284
  • Feb 5, 2015 8:56am Feb 5, 2015 8:56am
Quoting Ata-Turkoglu
{quote} My broker keeps spread low on UJ and GJ and AU but since ichimoku works great with Yen I stick to these two: UJ and GJ, but I am also trading the DAX and the Dow futures. Happy Trades
Thanks, Best to you and green pips all time !!

Greetz Michael
  • #3,285
  • Feb 5, 2015 8:59am Feb 5, 2015 8:59am
So far.. I believe all waves of 15 min chart have themselves played out for the day.. now we need to see action to catch a new wave 1.. at this late hour that means "call it a day" for me see you all after 4 hours or later folks..

Happy Trades
Focus only on what truly matters!
  • #3,286
  • Feb 5, 2015 8:59am Feb 5, 2015 8:59am
Quoting Ata-Turkoglu
{quote} My broker keeps spread low on UJ and GJ and AU but since ichimoku works great with Yen I stick to these two: UJ and GJ, but I am also trading the DAX and the Dow futures. Happy Trades
I am not an ichimoku guy, but do you trade this only on intraday or also higher TFs? I often heard that people think it is only suitable for intraday moves, but I am not sure since I did not study this and I doubt it.
Fix up, trade sharp ...
  • #3,287
  • Feb 5, 2015 9:00am Feb 5, 2015 9:00am
Quoting mwsteiner
{quote} Thanks, Best to you and green pips all time !! Greetz Michael
Thanks Michael.. wish you the best too..
Focus only on what truly matters!
  • #3,288
  • Feb 5, 2015 9:05am Feb 5, 2015 9:05am
Quoting Hickson
{quote} I am not an ichimoku guy, but do you trade this only on intraday or also higher TFs? I often heard that people think it is only suitable for intraday moves, but I am not sure since I did not study this and I doubt it.
I trade the smaller timeframes with Ichimoku but 4H and Daily charts are a must to see the bigger picture.. I check bigger charts only one or two times a day, but I check them.. having the bigger photo in mind helps scalping and intraday trading.. just keep in mind that whatever you see in the bigger picture will need a lot of time to develop.. so never hurry based on that..

One more thing: Mastering Support Resistance + Ichimoku is the best investment a trader can make..

Happy Trades
Focus only on what truly matters!
  • #3,289
  • Feb 5, 2015 10:17am Feb 5, 2015 10:17am
Quoting Temujin
Took another short after the one at 178.37 Pre London. Can't.............Ghhaaaa.......hurts....turn it off.
hilarious.....you have wit''....

Tonite we'll get some more good volatility.... I mo be there....!!
  • #3,290
  • Edited 12:30pm Feb 5, 2015 12:19pm | Edited 12:30pm
prices are weird right now. eur/usd just punched to 1.15 for no reason, and gbp/jpy is now at 180.10 (for no specific reason).

They all happened in a matter of minutes.

Taking shorts on both. Let's see the markets roll.

I suspect it's the uncertainty caused by the pre-NFP hours. Some say it's the SNB buying euro again, but that happened hours ago-the SNB has been quiet since, and the eur/chf reflects that. Given the impact on USD pairs and GBP pairs, I think it's related to the massive news incoming tomorrow.

If anyone here has a better explanation, please-by all means, share your wisdom with us.

Update: The gbp/jpy essentially climbed from 179.50/40 to 180.20/00 in literally 16 minutes. And it's near the closing hour of the NY session (very rare). Something's happening. And it's not global news.
  • #3,291
  • Feb 5, 2015 12:33pm Feb 5, 2015 12:33pm
Had a really nice long on fractal breakdown!
https://www.mql5.com/ru/charts/29857...shot-44109-png
  • #3,292
  • Feb 5, 2015 1:14pm Feb 5, 2015 1:14pm
Ata,
I also use ichimoku on the same time frames. I'm gradually moving away from eur/usd and cable into yen pairs. I may be imagining it but I think they have bigger ATRs and I find them easier to follow.

I'm interested in whether you combine ichimoku with any other indicators or do you use it on its own?

Thanks
  • #3,293
  • Feb 5, 2015 1:17pm Feb 5, 2015 1:17pm
Dang wish I held that long from last night, yar.
Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #3,294
  • Feb 5, 2015 2:56pm Feb 5, 2015 2:56pm
According to my chart GJ has just slammed into a hard wall on 3 time frames, fascinating. H4 it is stopped cold by the 220 EMA period above it. This next one however is even more immovable; the 48 EMA on the Daily chart. The last is an iron roof of the 14 EMA on the Weekly period.

Tomorrow is the Non-Farm Payroll report in the U.S. for January. This report will be the driver of whether GJ will break past these ceilings and a new channel is developed or it will fail here. A good report will be USD positive so GBP/USD will slip and GJ will keep going up as the yen will weaken on risk appetite. On the other hand however if the report is found wanting GBP/USD surges over the USD and the yen get's really mean with both the pound and the dollar, GJ down. This is so fun.
Be humble or be humbled.
  • #3,295
  • Edited 6:17pm Feb 5, 2015 4:34pm | Edited 6:17pm
I'm holding my position open, I like to ride the trend and and make some money! I got in at a great price so not worried about my trade falling apart. The GY just broke out of a 13 day consolidating bullish pattern and it looks to me we are starting an upward U turn (pivot) into the uptrend on the weekly chart after making a 61.8 retracement and getting gas at the 800 sma, and making a higher low before substantially moving north again. Usually news (unless devastating) like the CHF happened will only temporarily affect the current trend! Only my opinion after years of observation! Daily hitting 200 ema for resistance...weekly is looking bullish....but you know, you never really know! Good Luck Everybody! Don't trade with your emotions! And don't chase the trade! You will lose everytime!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPY Daily hitting 200 ema.png Size: 34 KB
Click to Enlarge Name: GBPJPYWeekly.png Size: 35 KB
  • #3,296
  • Edited 6:15pm Feb 5, 2015 4:59pm | Edited 6:15pm
If you all notice, we closed a daily candle with a nice, clean bullish candle. I am looking at a slight retracement back to 179.80 or so. Maybe with news we will get a whip, but who knows! Don't panic! This is just my observation! We didn't get a spike at the end of the daily or the 4 hr. so I'm in with the trend until I get some long term confirmation we are going south! Just sayin!
  • #3,297
  • Feb 5, 2015 5:45pm Feb 5, 2015 5:45pm
Quoting Krazydiamond
If you all notice, we closed a daily candle with a nice, clean bullish candle. I am looking at a slight retracement back to 179.80 or so. Maybe with news we will get a whip, but who knows! Don't panic! This is just my observation! We didn't get a spike at the end of the daily or the 4 hr. so I'm in with the trend until I get some long term confirmation we are going south! Just sayin!
Just a few things:

Current zone is bullish, but very difficult to decisively claim a long or short. For intraday trend leading to tomorrow pre-NFP, I point to the four hour chart. We're sitting on the borderline for a clean break into the 180s. Breaking this line opens up a lot of pips (hundreds), so we may instead stay in this zone or drop before NFP. The run to 180.30 happened in less than half a hour with only a few hours left on the NY session. This isn't a normal bullish move above, and we are technically overbought. It can go either way for now.

Also, I refrain from trading in these weeks by using long term trends. Long term views require a specific, planned entry (and/or LOTS of margins)-and I don't think taking a position right now before Friday is a wise idea-it'll be a very big gamble. Long term views win out in the end barring significant game changing events, but short term movement in a couple days can see a 1000pip move up or down.
  • #3,298
  • Feb 5, 2015 5:56pm Feb 5, 2015 5:56pm
Yeah Vermillion, just trading the way I always do! Held GBPAUD for 2 weeks and it's also about to take another turn I will be getting in on! Trading same way I do....I try not to think so much and use what the price is showing me. Also, back in the day when I started trading the GY always gave some serious pips at the end of the day! (2005) Banks close orders or open orders! So you get a bump in the market. We are little fish in a BIG pond
  • #3,299
  • Edited 6:57pm Feb 5, 2015 6:19pm | Edited 6:57pm
Quoting Vermillion
prices are weird right now. eur/usd just punched to 1.15 for no reason, and gbp/jpy is now at 180.10 (for no specific reason). They all happened in a matter of minutes. Taking shorts on both. Let's see the markets roll. I suspect it's the uncertainty caused by the pre-NFP hours. Some say it's the SNB buying euro again, but that happened hours ago-the SNB has been quiet since, and the eur/chf reflects that. Given the impact on USD pairs and GBP pairs, I think it's related to the massive news incoming tomorrow. If anyone here has a better explanation,...
Hey....that's what cbot does everyday.....the fix.....noontime fix....that's Chicago....they run the western hemisphere, I remember the last times this happened, it went with the cheat.....bullish then....

I have orders all over the place....lower and higher...in case a spike comes to town tonite or probably as late as 5:30 am New York time, so they aren't left out of the market surprise....
  • #3,300
  • Feb 5, 2015 8:25pm Feb 5, 2015 8:25pm
Quoting Vermillion
{quote} Just a few things: Current zone is bullish, but very difficult to decisively claim a long or short. For intraday trend leading to tomorrow pre-NFP, I point to the four hour chart. We're sitting on the borderline for a clean break into the 180s. Breaking this line opens up a lot of pips (hundreds), so we may instead stay in this zone or drop before NFP. The run to 180.30 happened in less than half a hour with only a few hours left on the NY session. This isn't a normal bullish move above, and we are technically overbought. It can go either...
Very unusual indeed but the dollar was so overbought for months so 2 days for GBP bulls is like two green blips in a sea of red. The Yen however cooperated. U.S. data and earnings has been mixed and some bad. Also read in the battle between Greece and the ECB cable will be the winner as capital flight takes place into the pound. Good luck tomorrow.
Be humble or be humbled.
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