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Dragon Riders GBP/JPY

  • #3,461
  • Feb 9, 2015 6:46am Feb 9, 2015 6:46am
Quoting Ata-Turkoglu
{quote} Looks promising.. will research about turnovers more.. thanks bro.. Happy Trades
Np
  • #3,462
  • Feb 9, 2015 6:49am Feb 9, 2015 6:49am
Quoting FX-Ray
Its no rocketscience to put on a home-run, just be careful and keep MM in check
Hahaha, yeah. RR 1:50 here we go. I know I wont hit it. Many times am attempting this I end up BE, many times miss, but homerun is homerun. If MM in check... .

Btw, got overall positions about 100% shot yen 65% buy USD and now 35% GBP. But think that GBP can screw up and I end up just in UJ.
GU bouncing off 1,52.
"I know one thing, that I know nothing." Sokrates
  • #3,463
  • Feb 9, 2015 7:01am Feb 9, 2015 7:01am
Quoting FX-Ray
{quote} Yes they do, news events are volatility-catalyst imho, I always used them like this because I found no way for myself to predict them accurately. Add: Example: Lets say price is at 180.00, now take any high impact news (doesnt matter which one), and price declines lets say 300-500Pips right into a significant level, to my experience, they get touched and never again for a period of time. I like to use them as reversal-event in direction of the bigger trend (daily). Add: (1) Fundamentals up (ex. QE) - check (2) Daily uprend (technical) -...
Vermillion, perfect ex., lowest buy entry at the first picture; bought into spike down while high impact news:

http://www.forexfactory.com/showthre...20#post7273020
  • #3,464
  • Feb 9, 2015 8:48am Feb 9, 2015 8:48am
Quoting FX-Ray
{quote} Yes they do, news events are volatility-catalyst imho, I always used them like this because I found no way for myself to predict them accurately. Add: Example: Lets say price is at 180.00, now take any high impact news (doesnt matter which one), and price declines lets say 300-500Pips right into a significant level, to my experience, they get touched and never again for a period of time. I like to use them as reversal-event in direction of the bigger trend (daily). Add: (1) Fundamentals up (ex. QE) - check (2) Daily uprend (technical) -...
This seems so simple and logical. It sums up perfectly what I need to remember when i am tempted to read/listen to others' opinions. An example: what happened with the aud usd recently with the rate announcement. Huge candle: my first inclination was to long it, not pay attention to those who thought, since it has gone this far down, it will go further. Yes, it may well - but the question is, when will that follow through occur? Before it, highly likely price will reverse for a while from such a significant level.
  • #3,465
  • Edited 9:11am Feb 9, 2015 8:51am | Edited 9:11am
Well, we've got a bounce back up to 181/180.80. That's halfway from the recent drop. Huh. Thought it would go lower, but let's see how it plays out.

Update: My take is that if we bounce back up 180.60/50, we'll see a retest of 181/180.80. Still ,if we break through 180.50, I see a quick drop to the price around 179.80.

A 50% retracement in a 50% retracement......Retrace-ception?
  • #3,466
  • Feb 9, 2015 9:04am Feb 9, 2015 9:04am
On Monday.....it's a trap.....the banks usually move with three waves....but I'm thinking we're coming out of a Gann decline so big upside is hiding in there. After reading the great posts on the previous three pages.....I'm thinking BOJ intervention, that would be during Tokyo. Their target is well known...125.xx plus on a us/yen
  • #3,467
  • Edited 9:29am Feb 9, 2015 9:14am | Edited 9:29am
Nice hanging man on 15min. Too bad we need to break 180.50 for further signs to short.

FX-Ray's 180.70 decision point seems to be a point of contention.
  • #3,468
  • Feb 9, 2015 9:24am Feb 9, 2015 9:24am
don't usually trade on Mondays but had a pending sell at 181.12 with a TP at 180.25 which gave me a few. would like to see it go down to 179.80 for my pending buy
  • #3,469
  • Feb 9, 2015 10:22am Feb 9, 2015 10:22am
Pending SHORT 180.865
A good trader follows his rules, but great trader knows when to break them
  • #3,470
  • Feb 9, 2015 12:52pm Feb 9, 2015 12:52pm
Quoting AllyB
don't usually trade on Mondays but had a pending sell at 181.12 with a TP at 180.25 which gave me a few. would like to see it go down to 179.80 for my pending buy
Hi Ally, gonna post new levels tomorrow since today created new ones, maybe you can get a better price
  • #3,471
  • Feb 9, 2015 12:55pm Feb 9, 2015 12:55pm
Quoting Greenstar
{quote} This seems so simple and logical. It sums up perfectly what I need to remember when i am tempted to read/listen to others' opinions. An example: what happened with the aud usd recently with the rate announcement. Huge candle: my first inclination was to long it, not pay attention to those who thought, since it has gone this far down, it will go further. Yes, it may well - but the question is, when will that follow through occur? Before it, highly likely price will reverse for a while from such a significant level.
Hi Greenstar, yeah most of the times it the same scenario, high impact news push price down into high demand in a uptrend just to take off and vice versa.
They create great opportunities to hold onto to a trade for few days to maximise your profit margin.
  • #3,472
  • Feb 9, 2015 1:45pm Feb 9, 2015 1:45pm
Quoting FX-Ray
{quote} Hi Ally, gonna post new levels tomorrow since today created new ones, maybe you can get a better price
sounds good to me ray. sure am glad to see you back btw

179.80 is an ass level which I got to play quite a bit couple weeks ago
  • #3,473
  • Feb 9, 2015 1:55pm Feb 9, 2015 1:55pm
Quoting AllyB
{quote} sounds good to me ray. sure am glad to see you back btw 179.80 is an ass level which I got to play quite a bit couple weeks ago
Well Ally, you might get a chance to play that range soon. We've finally broken through 180.50 again (though it's been 12 hours since we've initially done so).

Hope you have your limit orders in place. I know I just placed mine.

Note: I wonder if the Grexit debate between Greece & EU that happened today was responsible for keeping the gbp/jpy from going below 180....
  • #3,474
  • Feb 9, 2015 1:57pm Feb 9, 2015 1:57pm
Quoting Vermillion
{quote} Well Ally, you might get a chance to play that range soon. We've finally broken through 180.50 again (though it's been 12 hours since we've initially done so). Hope you have your limit orders in place. I know I just placed mine.
you bet I got it set
  • #3,475
  • Feb 9, 2015 2:08pm Feb 9, 2015 2:08pm
Quoting Vermillion
{quote} Well Ally, you might get a chance to play that range soon. We've finally broken through 180.50 again (though it's been 12 hours since we've initially done so). Hope you have your limit orders in place. I know I just placed mine. Note: I wonder if the Grexit debate between Greece & EU that happened today was responsible for keeping the gbp/jpy from going below 180....
I kinda doubt it ... seems to be a typical Monday and low ADR (for GJ that is)

that being said the US markets are all down

Euro zone, Greece face off as markets take fright
  • #3,476
  • Feb 9, 2015 3:03pm Feb 9, 2015 3:03pm
Quoting Ata-Turkoglu
In the chart below I explained my thoughts about where we are now and what to do in coming days. I will definitely stay bullish, but there will be also nice chances to scalp downside movements. So it's gonna be tight. Be aware that we are trapped inbetween 2 thick zones on daily. 4H chart is still bullish. And a tip for those who look for an opportunity to go short: Don't go short as long as price is still above clouds on 1 minute and 5 minute ichimoku cloud Happy Trades {image}
Update of the chart I shared this morning.. I explained my thoughts on the chart in a simplest way. Hope it helps.

Happy Trades
Attached Image (click to enlarge)
Click to Enlarge Name: GJ-2015-02-09-updated2.jpg Size: 569 KB
Focus only on what truly matters!
  • #3,477
  • Feb 9, 2015 4:36pm Feb 9, 2015 4:36pm
Quoting Ata-Turkoglu
{quote} Update of the chart I shared this morning.. I explained my thoughts on the chart in a simplest way. Hope it helps. Happy Trades {image}
Nice cloud charts Ata. I see it as well in my ichimoku. Still waiting for the drop to occur soon or by end of Tokyo session; my indicators are leaning more and more towards testing 179.80.

Still, this does beg the question: Given that this week is widely expected to be consolidatory for the USD (and potentially bearish for gbp given BOE announcement), will 179.80 hold? Nevermind-I'm getting ahead of myself. I'll get a more clearer bias once the price drops to that area....if it get there.....maybe today.....hopefully within the century.
  • #3,478
  • Feb 9, 2015 4:47pm Feb 9, 2015 4:47pm
Quoting Vermillion
{quote} Nice cloud charts Ata. I see it as well in my ichimoku. Still waiting for the drop to occur soon or by end of Tokyo session; my indicators are leaning more and more towards testing 179.80. Still, this does beg the question: Given that this week is widely expected to be consolidatory for the USD (and potentially bearish for gbp given BOE announcement), will 179.80 hold? Nevermind-I'm getting ahead of myself. I'll get a more clearer bias once the price drops to that area....if it get there.....maybe today.....hopefully within the century.
Thanks bro.. well I will wait till the hours around tokyo open.. the 30 min. chart shows that price will be ready to jump up or fall down in a couple of hours.. TK lines are below cloud and very close to each other on 30 min. and tenkan is still below kijun.. it shows an extremely bearish picture but that can change as soon as price bounces back above TK and continues to rise just before the span a and b cross on 30 min. If that doesn't happen in 2 or 3 hours the bulls will have missed their chance and my bias will swap to be bearish..

Happy Trades
Focus only on what truly matters!
  • #3,479
  • Feb 9, 2015 6:16pm Feb 9, 2015 6:16pm
Quoting FX-Ray
Decision points short-term/intermediate-term calendar week 07 GBP/JPY: 184.10/83.90 182.40/20 181.70/50 179.90/70 179.00/78.80 178.10/78.90 177.00/76.80 176.40/20 175.80/60 https://www.youtube.com/watch?v=MoZGOyihNvs {image}
Update:

181.25/20
180.50/45
Attached Image (click to enlarge)
Click to Enlarge Name: 10022015.png Size: 46 KB
  • #3,480
  • Feb 9, 2015 6:22pm Feb 9, 2015 6:22pm
Quoting FX-Ray
{quote} Update: 181.25/20 180.50/45 {image}
??? Where'd the other short term points you put in previously (ex: 179.90/70) go?
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