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Dragon Riders GBP/JPY

  • #3,661
  • Feb 12, 2015 2:47am Feb 12, 2015 2:47am
Quoting Vermillion
{quote} Refer to my update. I bought longs at 181.360. TPed at 182. God, that was beautiful. 64 pips in 2 minutes.
Nice. Anyway I'm keeping my fingers off the yen pairs now. Technicals not going to help here.
Luck shines on the positive.
  • #3,662
  • Feb 12, 2015 2:48am Feb 12, 2015 2:48am
Quoting YvetteTeo
{quote} Nice. Anyway I'm keeping my fingers off the yen pairs now. Technicals not going to help here.
Expect bigger pullbacks; gbp/jpy is oversold right now.

I just TPed early at 182 since that gave me a nice even 600 pips in total for the day. I have a strange fascination for whole numbers; they just look so.......simple.
  • #3,663
  • Feb 12, 2015 2:48am Feb 12, 2015 2:48am
Quoting YvetteTeo
{quote} Any buyers here?
i will wait for BOE
do not stand out in the open with gun ;stand in the bushes with knife..
  • #3,664
  • Feb 12, 2015 2:49am Feb 12, 2015 2:49am
price will go straight back to where we started.
do not stand out in the open with gun ;stand in the bushes with knife..
  • #3,665
  • Feb 12, 2015 2:49am Feb 12, 2015 2:49am
Quoting countdown
{quote} i will wait for BOE
I'd like to see another run at my long term triangle top at 183.7.
Luck shines on the positive.
  • #3,666
  • Feb 12, 2015 2:50am Feb 12, 2015 2:50am
Quoting countdown
price will go straight back to where we started.
Possible, but unlikely. Keep in mind however, that going past yesterday's highs prior to BOE is now officially IMPOSSIBLE. BOJ has all but promised an intervention, so expect the upside to be HEAVILY limited.

Also, if the BOE report is dovish as expected (or even more so), then expect another round of heavy selling for the gbp/jpy.
  • #3,667
  • Feb 12, 2015 2:51am Feb 12, 2015 2:51am
Quoting Vermillion
{quote} Possible. Keep in mind however, that going past yesterday's highs prior to BOE is now officially IMPOSSIBLE. BOJ has all but promised an intervention, so expect the upside to be HEAVILY limited. Also, if the BOE report is dovish as expected (or even more so), then expect another round of heavy selling for the gbp/jpy.
yes ; right ..
do not stand out in the open with gun ;stand in the bushes with knife..
  • #3,668
  • Feb 12, 2015 2:52am Feb 12, 2015 2:52am
Quoting Vermillion
{quote} Possible, but unlikely. Keep in mind however, that going past yesterday's highs prior to BOE is now officially IMPOSSIBLE. BOJ has all but promised an intervention, so expect the upside to be HEAVILY limited. Also, if the BOE report is dovish as expected (or even more so), then expect another round of heavy selling for the gbp/jpy.
Based on that, trading GBP/USD would make more sense.
And my itchy finger needs to be punished, lol.
Luck shines on the positive.
  • #3,669
  • Feb 12, 2015 2:56am Feb 12, 2015 2:56am
Quoting YvetteTeo
{quote} Based on that, trading GBP/USD would make more sense. And my itchy finger needs to be punished, lol.
since i started to trade FX market in 2007 , GbpUsd has always been the worst pair for me to trade ..
do not stand out in the open with gun ;stand in the bushes with knife..
  • #3,670
  • Feb 12, 2015 2:58am Feb 12, 2015 2:58am
Quoting countdown
{quote} since i started to trade FX market in 2007 , GbpUsd has always been the worst pair for me to trade ..
Ain't going to judge that, used to be the worst pair for me.
Gold decided to take it's place.
Luck shines on the positive.
  • #3,671
  • Feb 12, 2015 2:58am Feb 12, 2015 2:58am
Currently waiting for the BOE to reload shorts. BOJ promise to intervene + dovish pound sterling = gbp/jpy goes down.

If BOE is hawkish, meh. Look for other markets. I just increased my account value by.....well, I won't say it publicly, but let's just say that it was worth two, three weeks of profit on average.

Going to short eur/usd on whatever pullbacks it has. I expect a retest of 1.10 minimum within the year.
  • #3,672
  • Feb 12, 2015 2:59am Feb 12, 2015 2:59am
Quoting YvetteTeo
{quote} Ain't going to judge that, used to be the worst pair for me. Gold decided to take it's place.
oh , i stop trading it very very long time ago ; the day when i lost 4 K while eating my dinner
do not stand out in the open with gun ;stand in the bushes with knife..
  • #3,673
  • Feb 12, 2015 3:06am Feb 12, 2015 3:06am
Quoting countdown
{quote} oh , i stop trading it very very long time ago ; the day when i lost 4 K while eating my dinner
My condolences. If it makes you feel better, I lost $5000 once when the RBNZ-reserve Bank of New Zealand-decided to hike rates again as a surprise move. It was my first 3 months of trading, and I blew most of my account after earning $3600 in pure profit.

God, I hated that day.
  • #3,674
  • Feb 12, 2015 3:13am Feb 12, 2015 3:13am
Quoting Vermillion
{quote} My condolences. If it makes you feel better, I lost $5000 once when the RBNZ-reserve Bank of New Zealand-decided to hike rates again as a surprise move. It was my first 3 months of trading, and I blew most of my account after earning $3600 in pure profit. God, I hated that day.
Well those are what makes us better traders ain't it. I've had my fair share of losses.
Luck shines on the positive.
  • #3,675
  • Feb 12, 2015 3:17am Feb 12, 2015 3:17am
Hilarious comments I'm seeing in the news article about the BOJ surprise announcement. They act as if the yen had to keep getting pounded without Japan's own government noticing.

...Why? Did they expect that the geppy would only pullback 100 pips and then move up another 200 like a clockwork fashion? Don't they see that we're at an important decision point on the weekly level? It could have gone either way.

Don't they know there's a reason why the gbp/jpy is called the dragon?

Actually, huge question: How much margin do you guys leave as acceptable losses? I always leave at least 100-200 pips as acceptable losses, and 1000 pips to be a breaker for my account. This of course, assumes that I constantly monitor the charts for volatility. And no, I don't trade on risky markets without lowering my risk.
  • #3,676
  • Feb 12, 2015 3:18am Feb 12, 2015 3:18am
guys weekly close above 180.707 opens new highs always. for long term. i wont sell this above this levels. ( mid and long term ) i am not saying this for scalp positions.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-w1-destekfx.png Size: 114 KB
do not stand out in the open with gun ;stand in the bushes with knife..
  • #3,677
  • Feb 12, 2015 3:22am Feb 12, 2015 3:22am
just drive horizontal lines to all pairs that you are trading. september high and september low. above and below september high and september lows always open new targets for the pairs. you can adopt it all the pairs. september is trend maker month..

happy trades
do not stand out in the open with gun ;stand in the bushes with knife..
  • #3,678
  • Feb 12, 2015 3:22am Feb 12, 2015 3:22am
Quoting skyhok
Yeah, good downside potential from here. {image}
Perfect !

This should match with usd/jpy for wave e?!
  • #3,679
  • Feb 12, 2015 3:24am Feb 12, 2015 3:24am
Quoting hirenfxtrade
{quote} Perfect ! This should match with usd/jpy for wave e?!
Wait for BOE reports for confirmation. This drop was primarily event oriented, not wave/technicals. Leave aside chart patterns for now, and just stay flat.
  • #3,680
  • Feb 12, 2015 4:30am Feb 12, 2015 4:30am
Quoting Gbp/jpy
{quote} Hey man,....yep....could it be a 4 down was completed and the target is 193.33 or so.....I'm thinkin'.!!,,,,,,and please post here more often.... .. remember you posted on page two or somethin way back then even..
And at this time, it all depends on 182.2 ish. A hold there might bring a break of the major tl that stopped it, whereas a break up suggests that the last 80 hours have been a wave 4 and we're in wave 1 of 5 to the upside in an expanding triangle. Obviously only confirmed with a break of the previous high, targeting at least 184. Failure to crack the 182.2/5 area constructively may point more to a H/s type arrangement.
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