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Dragon Riders GBP/JPY

  • #4,201
  • Edited 8:43pm Feb 18, 2015 8:21pm | Edited 8:43pm
usd/jpy and gbp/jpy looking like they want to head lower. If they don't get above the intraday support (in the past few hours), I expect a retest of 182.50, which is the next fib support.

There's also room for eur/usd to move up to 1.1450, so I'm now leaning slightly in favor of a move down from here.

I'll load a small short at 183.20 and see how it works out from here.

Update: Shorted at 183.230, the 1min ichimoku cloud resistance. TP at 182.50 (slated to reload after the bounce from that fib support). SL at a confirmed breakout above 183.40

Edit: If London session doesn't bring prices down and the gbp/jpy just sits around at 183.20 +/- 20 pips, I'm going to manually close the short.
  • #4,202
  • Feb 18, 2015 9:44pm Feb 18, 2015 9:44pm
This is the 1hr view right now. It was contained in a sort of a triangle formation, hit the top, retested the apex (blue) then shot up. Now it's back to the top. The top area must hold, or the apex area (roughly) must hold.



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  • #4,203
  • Feb 19, 2015 12:12am Feb 19, 2015 12:12am
Quoting Mpt
This is the 1hr view right now. It was contained in a sort of a triangle formation, hit the top, retested the apex (blue) then shot up. Now it's back to the top. The top area must hold, or the apex area (roughly) must hold. {image}
good info there....thanx
  • #4,204
  • Feb 19, 2015 12:19am Feb 19, 2015 12:19am
Quoting Gbp/jpy
{quote} good info there....thanx
No problems mate. Might be off for a little while shortly. A small matter of an intensifying tropical cyclone heading straight this way from out of the Coral Sea. Lots of wind, rain and loss of electricity.
  • #4,205
  • Feb 19, 2015 12:22am Feb 19, 2015 12:22am
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  • #4,206
  • Feb 19, 2015 12:56am Feb 19, 2015 12:56am
Quoting Vermillion
Update: Shorted at 183.230, the 1min ichimoku cloud resistance. TP at 182.50 (slated to reload after the bounce from that fib support). SL at a confirmed breakout above 183.40 Edit: If London session doesn't bring prices down and the gbp/jpy just sits around at 183.20 +/- 20 pips, I'm going to manually close the short.
SL at 183.40 hit.
  • #4,207
  • Edited 2:23am Feb 19, 2015 2:00am | Edited 2:23am
Quoting Vermillion
{quote} SL at 183.40 hit.
Considering another round of shorts. I have a sell limit at 183.40 if we touch 183.20 again
  • #4,208
  • Feb 19, 2015 2:05am Feb 19, 2015 2:05am
this is beast, 10-20 pips SL is not ideal since return is also bigger than other pairs.
  • #4,209
  • Feb 19, 2015 2:11am Feb 19, 2015 2:11am
Quoting Noob Trader
this is beast, 10-20 pips SL is not ideal since return is also bigger than other pairs.
I don't know if that sentence was done on purpose or not, but one of the gbp/jpy's nickname is "the beast".

Currently looking for a potential short for this pair.
  • #4,210
  • Edited 2:36am Feb 19, 2015 2:20am | Edited 2:36am
Quoting Vermillion
usd/jpy and gbp/jpy looking like they want to head lower. If they don't get above the intraday support (in the past few hours), I expect a retest of 182.50, which is the next fib support. There's also room for eur/usd to move up to 1.1450, so I'm now leaning slightly in favor of a move down from here. I'll load a small short at 183.20 and see how it works out from here. Update: Shorted at 183.230, the 1min ichimoku cloud resistance. TP at 182.50 (slated to reload after the bounce from that fib support). SL at a confirmed breakout above 183.40 Edit:...
Got a short a bit higher than before (183.261) after being stopped out. TP are the same as before, SL is subject to manual closing. Let's try round 2 of shorting.

On a side note, eur/usd is now once again above 1.1420 and is attempting to head higher. As said previously I'll probably look for shorts in around 1.145 or 1.15

Edit: euro seems to be the main factor here. As soon as eur/usd hit 1.145, it quickly fell down a bit and the gbp/jpy also rose as well.
  • #4,211
  • Feb 19, 2015 3:06am Feb 19, 2015 3:06am
Still long 183.221 for 184. SL at 182.93 - and I will not close before one of these numbers gets printed.
Fix up, trade sharp ...
  • #4,212
  • Feb 19, 2015 3:20am Feb 19, 2015 3:20am
Quoting Hickson
Still long 183.221 for 184. SL at 182.93 - and I will not close before one of these numbers gets printed.
Good luck. It's all up to the euro right now; gbpjpy is right now a larger extension of the eur/usd. The ECB monetary policy meeting accounts & updates about Greece will likely drive the prices.

Best get prepared around 3 hours from now, when euro news starts kicking in.
  • #4,213
  • Feb 19, 2015 3:23am Feb 19, 2015 3:23am
Quoting Vermillion
{quote} Good luck. It's all up to the euro right now; gbpjpy is right now a larger extension of the eur/usd. The ECB monetary policy meeting accounts & updates about Greece will likely drive the prices. Best get prepared around 3 hours from now, when euro news starts kicking in.
Thanks, good luck as well! Whoever will be stopped out should not lose too much anyway. EU is very hard to trade recently although the big gurus in EU thread want to make it look easy and everyone else is a "muppet". Yesterday I was a "muppet" that went long EU ... oooops.
Fix up, trade sharp ...
  • #4,214
  • Feb 19, 2015 3:33am Feb 19, 2015 3:33am
GJ, current
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  • #4,215
  • Feb 19, 2015 3:35am Feb 19, 2015 3:35am
Quoting Hickson
{quote} Thanks, good luck as well! Whoever will be stopped out should not lose too much anyway. EU is very hard to trade recently although the big gurus in EU thread want to make it look easy and everyone else is a "muppet". Yesterday I was a "muppet" that went long EU ... oooops.
Trading never is easy, thats what they dont tell you.

Add: Anyway, short 50ish
  • #4,216
  • Feb 19, 2015 3:36am Feb 19, 2015 3:36am
Morning all,

First look at the 1hr + 4hr makes me tempted with a long. Have a TK crossover, bull cloud and price is bouncing off the TS. It satisfies all my rules and should be a good trade but something inside my head is warning me off the trade and don't know why.
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  • #4,217
  • Feb 19, 2015 3:36am Feb 19, 2015 3:36am
A quick appraisal - whilst I still can - got this friendly little critter bearing down fast now - gone from a category 1 to a cat 5 (katrina size) in 6hrs.

Break over 183.6 tests a high between there and 184, then falls back into 183 before up.

No break over 183.6 drops it back into 182.9 or below
  • #4,218
  • Feb 19, 2015 3:40am Feb 19, 2015 3:40am
Quoting Mpt
A quick appraisal - whilst I still can - got this friendly little critter bearing down fast now - gone from a category 1 to a cat 5 (katrina size) in 6hrs. Break over 183.6 tests a high between there and 184, then falls back into 183 before up. No break over 183.6 drops it back into 182.9 or below
Mpt, there's a surprisingly simple answer: jut look at eur/usd, and compare its recent price movements with that of the gbp/jpy.
  • #4,219
  • Feb 19, 2015 3:54am Feb 19, 2015 3:54am
Quoting FX-Ray
GJ, current {image}
Hi Ray,

Where do you get the profiles you use to show your zones? Are they free? The platform I use costs quite a lot for data etc and am curious. I love HVNs ,LVNs, POCs and TPO's. Use them in my Index trading as volume is so precise unlike FX.

Cheers.
  • #4,220
  • Feb 19, 2015 4:05am Feb 19, 2015 4:05am
Quoting Sifufx
{quote} Hi Ray, Where do you get the profiles you use to show your zones? Are they free? The platform I use costs quite a lot for data etc and am curious. I love HVNs ,LVNs, POCs and TPO's. Use them in my Index trading as volume is so precise unlike FX. Cheers.
No they are not, whats platform you use?
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