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Dragon Riders GBP/JPY

  • #3,581
  • Feb 11, 2015 1:46am Feb 11, 2015 1:46am
above 185 + will be lots of seller but for now i thnk heading to 185 ..

morning all
do not stand out in the open with gun ;stand in the bushes with knife..
  • #3,582
  • Feb 11, 2015 1:59am Feb 11, 2015 1:59am
Quoting melvinlimmy
Current Price Action inside BB Period 50, Std deviation 1,2 & 3; which also means that PA can continue to head north to 182 & if strong 186.2 Ichimoku cloud- No mans land My 2 cents, pa will move towards 182 and float. Bought @ 181.38 Happy Trading guys {image}{image}
Closed Half of the position, set a trailing stop at 182.5
Target 183.925
got a feeling that it will come back down 182.478
Just my 2 cents.

Happy Trading guys!!
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  • #3,583
  • Feb 11, 2015 2:01am Feb 11, 2015 2:01am
Quoting op3lis
Hey Dragon Riders why so quiet everyone here? Such a nice move this London session and no comments, maybe everyone are sitting on shorts and praying for retracement?
All good here. I think this has plenty of upside in it. Donchian 4 week rule seems to be in play. Which could mean a nice up trend. Wait and see. I don't follow donchian much but am aware of his trend system. Something like this. If last weeks candle closes higher/lower than the previous 3 weeks that can signal a new up trend. Its just one rule i follow looking at weekly charts. Key is getting your entry with good risk on the lower timeframes..
  • #3,584
  • Feb 11, 2015 2:20am Feb 11, 2015 2:20am
Thinking of a short somewhere between 183.7 and 184.3 any thoughts please.

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If you are new to FX don"t follow my trades, I 've blown many live accounts
  • #3,585
  • Feb 11, 2015 2:33am Feb 11, 2015 2:33am
Quoting mclon
Thinking of a short somewhere between 183.7 and 184.3 any thoughts please. {image}
Your chart has a lot of business happening.


8400 may get a retrace. Just have to wait and see . Numbers and zones its all they are. You need price action at the zone. You could most likely put a pending sell order around there and it being a round number it most likely will retrace to some degree. No one knows. But for me its a zone i am aware off, and thats about it at this point. I am following the trend and not trying to pick reversal points even though I am aware of them.
  • #3,586
  • Feb 11, 2015 3:10am Feb 11, 2015 3:10am
So far we almost reached fib 61.8%, which I mentioned on the daily chart I shared lately.. it is 184.37 and 100 pips left until we get there.. At 183.30 I partially closed 8/10 of my lots and let the last 2/10 ride.. I believe 183.50 is tough area and price can return anytime so I didn't want to give back what I've earned so far.. I think bears are getting ready to push back.. A big war inside the last 100 pip area.. let's watch and see how this ends..

Happy Trades
Focus only on what truly matters!
  • #3,587
  • Feb 11, 2015 3:13am Feb 11, 2015 3:13am
Quoting Sifufx
{quote} Your chart has a lot of business happening. 8400 may get a retrace. Just have to wait and see . Numbers and zones its all they are. You need price action at the zone. You could most likely put a pending sell order around there and it being a round number it most likely will retrace to some degree. No one knows. But for me its a zone i am aware off, and thats about it at this point. I am following the trend and not trying to pick reversal points even though I am aware of them.


Thanks Situfx
If you are new to FX don"t follow my trades, I 've blown many live accounts
  • #3,588
  • Feb 11, 2015 3:14am Feb 11, 2015 3:14am
Quoting Ata-Turkoglu
So far we almost reached fib 61.8%, which I mentioned on the daily chart I shared lately.. it is 184.37 and 100 pips left until we get there.. At 183.30 I partially closed 8/10 of my lots and let the last 2/10 ride.. I believe 183.50 is tough area and price can return anytime so I didn't want to give back what I've earned so far.. I think bears are getting ready to push back.. A big war inside the last 100 pip area.. let's watch and see how this ends.. Happy Trades
and also UsdJpy is very close to 119,90 tough level..and as today is quiet day ; it will be hard for the market to reach above this levels.
do not stand out in the open with gun ;stand in the bushes with knife..
  • #3,589
  • Feb 11, 2015 4:39am Feb 11, 2015 4:39am
If Carlsberg made 15M fibonacci charts...
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  • #3,590
  • Feb 11, 2015 4:57am Feb 11, 2015 4:57am
Quoting countdown
{quote} and also UsdJpy is very close to 119,90 tough level..and as today is quiet day ; it will be hard for the market to reach above this levels.
For now all I do is waiting till price breaks 183.55.. (R1), let's see if we can reach R2 and R3 tomorrow.. because today is just so slow caused by Japan bank holiday... that means lots of coffee for me
Focus only on what truly matters!
  • #3,591
  • Feb 11, 2015 5:27am Feb 11, 2015 5:27am
Quoting Ata-Turkoglu
{quote} For now all I do is waiting till price breaks 183.55.. (R1), let's see if we can reach R2 and R3 tomorrow.. because today is just so slow caused by Japan bank holiday... that means lots of coffee for me
Oh hail....I didn't know they were on holiday....I bet they set off the fireworks tonite....mom and pop retailers sharp as a tack over there....and they're good at growing their accounts ( the boj helps them, the most aged population on the planet. )
  • #3,592
  • Feb 11, 2015 5:52am Feb 11, 2015 5:52am
Quoting Gbp/jpy
{quote} Oh hail....I didn't know they were on holiday....I bet they set off the fireworks tonite....mom and pop retailers sharp as a tack over there....and they're good at growing their accounts ( the boj helps them, the most aged population on the planet. )
I think this smart news indicator can solve your problem.. never miss any news event again..

I use it on a separate window. It reflects upcoming news events listed on the main page of forexfactory and gives a sound alert at the moment when an important news event starts... so be smart.. make use of it..

Happy Trades
Attached File(s)
File Type: ex4 NewsCal-v107.ex4   48 KB | 683 downloads
Focus only on what truly matters!
  • #3,593
  • Feb 11, 2015 5:57am Feb 11, 2015 5:57am
After a long bullish period and a sideways move finally price tries to dive into the 5 minute ichimoku cloud.. if it can screw through it and stay below, we might have some bearish correction for a while (towards pivot 181.60)

Happy Trades
Focus only on what truly matters!
  • #3,594
  • Feb 11, 2015 7:24am Feb 11, 2015 7:24am
Closed out my long position I had on this pair. It may have another 50 pips or so to the upside but I'm not gonna be a dick for a pip so I'm happy with 6 cents gained on this trade and now flat on this pair.

Good Luck!
  • #3,595
  • Feb 11, 2015 7:42am Feb 11, 2015 7:42am
These moments are the moments where I tell myself the same way Mel Gibson in his Braveheart movie, was telling his warriors when enemy troops were getting closer and closer... "hold....... hold........ hold...... don't go short yet... hoooooold!!!"
Focus only on what truly matters!
  • #3,596
  • Feb 11, 2015 7:54am Feb 11, 2015 7:54am
Risking a small lot short trade at 183.73.. (SL: 184.10)

Happy Trades
Focus only on what truly matters!
  • #3,597
  • Feb 11, 2015 8:05am Feb 11, 2015 8:05am
it is flying towards 184
  • #3,598
  • Feb 11, 2015 8:10am Feb 11, 2015 8:10am
Quoting Ata-Turkoglu
Risking a small lot short trade at 183.73.. (SL: 184.10) Happy Trades
I think it's u.S. oil supply driving the yen pairs up; the prices for yen just jumped dozens of pips right after the oil announcement.

Shouldn't we be getting a correction (100pip+) soon? The gbp/jpy is increasing way to fast for me to consider longing right now.

Just look at the RSI on the hourly; every time I see it, the more I feel scared about the gbp/jpy.

Currently shorting 183.80 & 183.90 respectively. Was hoping for 183.95 or 184 to short, but that wasn't going to happen.
  • #3,599
  • Feb 11, 2015 8:16am Feb 11, 2015 8:16am
IMHO:
The US dollar is poised for a correction and could be a juicy one. I think the Greece situation my have all EU currencies go into a buy the rumor sell the news kind of a deal and fueling to the much desire correction on the us dollar, if that is to happen then the Yen might also show some strength and opportunities should present themselves across the board.

I for one gonna park my cash into something safe and wait for the storm to begin b4 I engage into something heavy...

BTW
I just went long NZD/USD great inverse H&S on 4hr and also pays nice rolls... 2 units @ 73.69 Initial risk is 2.5 cents to make 5 cents

Good luck
  • #3,600
  • Feb 11, 2015 8:22am Feb 11, 2015 8:22am
Quoting Ironman777
I for one gonna park my cash into something safe and wait for the storm to begin b4 I engage into something heavy... Good luck
Hmmm....hope you don't mean any portfolio/fund. Lord knows how many financial institutions are flipping over because of central bank shocks. SNB decides to remove the price floor (and then does a 180 degree turn by buying the eur/chf back up from 0.98 to 1.60), Russia's central bank decides to hike rates while its economy is drowning, ECB announces a massive QE to save the Euro, Grexit is now closer than ever; the list goes on and on.

I hereby dub this year with the following title.

2015: The Banks Strike Back.
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