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Dragon Riders GBP/JPY

  • #3,321
  • Feb 6, 2015 7:05am Feb 6, 2015 7:05am
Closed all three shorts at 179.664. Didn't pocket much. Only about $162. Kind of sad, really.
  • #3,322
  • Feb 6, 2015 7:08am Feb 6, 2015 7:08am
Attached Image (click to enlarge)
Click to Enlarge Name: 2 hour GBJ JPY.PNG Size: 40 KB
  • #3,323
  • Feb 6, 2015 7:10am Feb 6, 2015 7:10am
Quoting knightpips
{image}
Just remember: When the price is close to a key support/resistance, there's a chance it'll break out of that formation. And when it does, expect it to move very heavily against said prediction.

Always plan for the opposite scenario. That chart has a good chance of breaking if the NFP turns out to be highly positive.

I'm too unskilled to hold positions over NFP. It'd be great if I was right in my predictions, but I can do without the extra risk
  • #3,324
  • Feb 6, 2015 7:16am Feb 6, 2015 7:16am
Yes everything is possible in this market
  • #3,325
  • Feb 6, 2015 7:21am Feb 6, 2015 7:21am
Quoting anima999
Don't forget NFPs due in 30mins.
I know.. thanks.. have no trade open right now.. if price reaches 179.90 before or during NFP I will wait.. but if it reaches it 15 min. after I can enter short.. all I want to see is if price stays below 180.00 or not.. so far it was nicely rejected..

Happy Trades
Focus only on what truly matters!
  • #3,326
  • Feb 6, 2015 7:23am Feb 6, 2015 7:23am
Quoting knightpips
{image}
Nice and clean chart bro.. please keep posting.. helps a lot
Focus only on what truly matters!
  • #3,327
  • Feb 6, 2015 7:24am Feb 6, 2015 7:24am
Quoting Ata-Turkoglu
{quote} I know.. thanks.. have no trade open right now.. if price reaches 179.90 before or during NFP I will wait.. but if it reaches it 15 min. after I can enter short.. all I want to see is if price stays below 180.00 or not.. so far it was nicely rejected.. Happy Trades
I take it we've about 4, 5 hours following the NFP announcement to go to next support. After that, I suspect the MM will have been cashed in on everything for the day.

Also have pending shorts as well, with a relatively large SL in case of whiplashes.

I wonder if anyone in FF has the courage to hold a long/short during the NFP.......
  • #3,328
  • Feb 6, 2015 7:26am Feb 6, 2015 7:26am
I always ask myself how they manage it to bring millions of people trading to fib 61.8 exactly at the time of NFP.. this is really awkward.. spooky :nerd:
Focus only on what truly matters!
  • #3,329
  • Feb 6, 2015 7:31am Feb 6, 2015 7:31am
Like watching fireworks... can you see how it dances around 180? I can already tell we will go down.. (just polished my crystall ball ) .... or maybe not.. dance is over

Those who remember the 4H chart I shared this morning will remember that 180.50 is very crucial.. if that breaks oh gosh then we will fire up even further..
Focus only on what truly matters!
  • #3,330
  • Feb 6, 2015 7:37am Feb 6, 2015 7:37am
180.50 holds, upside limited (retest of 180 likely). Up from 180.50? Probably an eventual rise to 183/182.

Price is bouncing around 180.50 for now.
  • #3,331
  • Feb 6, 2015 7:42am Feb 6, 2015 7:42am
Thinking of trying a short at about 181,I have it as one of the DP levels FX Ray posted. What do you guys think?


Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH4.png Size: 71 KB
If you are new to FX don"t follow my trades, I 've blown many live accounts
  • #3,332
  • Feb 6, 2015 7:44am Feb 6, 2015 7:44am
Another pattern I often see is that after a close of a long 15 min candle, 2 more follows it.. so it means a newbie could blindly close his long trade based on this.. not saying you should try it now but let's just watch..
Focus only on what truly matters!
  • #3,333
  • Feb 6, 2015 7:46am Feb 6, 2015 7:46am
Quoting mclon
Thinking of trying a short at about 181,I have it as one of the DP levels FX Ray posted. What do you guys think? {image}
15m not overbought right now.so i will go long.
Gold Expedition Return This Year: -16.4%
  • #3,334
  • Feb 6, 2015 7:48am Feb 6, 2015 7:48am
Quoting Ata-Turkoglu
Another pattern I often see is that after a close of a long 15 min candle, 2 more follows it.. so it means a newbie could blindly close his long trade based on this.. not saying you should try it now but let's just watch..
u need to test it for 40 times to prove it (rules of small numbers).
Gold Expedition Return This Year: -16.4%
  • #3,335
  • Feb 6, 2015 7:50am Feb 6, 2015 7:50am
Quoting budak baru
{quote} u need to test it for 40 times to follow rules of small numbers.
I already did.. 58% success in my backtesting results.. at least 2.. and sometimes 3 bullish candles follows it... very rarely 4 or more if the rally is really strong..
Focus only on what truly matters!
  • #3,336
  • Feb 6, 2015 7:52am Feb 6, 2015 7:52am
Quoting budak baru
{quote} 15m not overbought right now.so i will go long.

Ok, thanks budak. I wait.
If you are new to FX don"t follow my trades, I 've blown many live accounts
  • #3,337
  • Feb 6, 2015 7:54am Feb 6, 2015 7:54am
Quoting mclon
{quote} Ok, thanks budak. I wait.
With the peak of the 3rd 15 min candle (that's for everyone exactly with the close of the candle at quarter past local hour) I will close all my longs..
Focus only on what truly matters!
  • #3,338
  • Feb 6, 2015 7:54am Feb 6, 2015 7:54am
Quoting Ata-Turkoglu
{quote} I already did.. 58% success in my backtesting results.. at least 2.. and sometimes 3 bullish candles follows it... very rarely 4 or more if the rally is really strong..
good.i also in long position with 100 pips target.
Gold Expedition Return This Year: -16.4%
  • #3,339
  • Feb 6, 2015 7:59am Feb 6, 2015 7:59am
Quoting budak baru
{quote} good.i also in long position with 100 pips target.
Focus only on what truly matters!
  • #3,340
  • Feb 6, 2015 7:59am Feb 6, 2015 7:59am
It'slike they're just giving pips away.....no whipsaws or nothing rash.....
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