Dragon Riders GBP/JPY | Page 239 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/JPY

Similar Threads

Enter The Dragon - GBP/JPY 2 replies

Info on the Borihei-Dragon Scalping System? 15 replies

The Dragon 441 replies

Scalping The Dragon 34 replies

***Dragon II*** 15 replies

Attachments: Dragon Riders GBP/JPY
Exit Attachments

Dragon Riders GBP/JPY

  • #4,761
  • Feb 25, 2015 8:39pm Feb 25, 2015 8:39pm
Quoting Mpt
Also, the 61.8 retrace of 185.3 versus 181.6 is ... ???
A number that we're all too familiar with, Mpt: 183.10.

Pretty much most of the former supports will remain intact if we resume correction from 185.30. That is, assuming we do.

Right now, we seem to be retesting 184.80/70. We may even get to 184.50. but if we're still headed up, we shouldn't dip below 184 (most likely to remain above 184.50 in my opinion if 185.30 is soon to be hit)

And on that note, expect the GBP in general to encounter a still resistance, since gbp/usd has a key area to overcome around 1.554~1.5600.

In other words, the pound sterling is going to face high volatility and low range for the better part of a trading day in the future if it doesn't plan on hitting a correction soon. In other words, I'm staying out of the GBP pairs (except for ones that are already open).
  • #4,762
  • Feb 25, 2015 8:41pm Feb 25, 2015 8:41pm
Re-entered ... on breakout.

stop recent 4hr low.
Be hopeful in a winning position, and fearful in a losing position.
  • #4,763
  • Feb 25, 2015 8:45pm Feb 25, 2015 8:45pm
Quoting Rag2RichesFX
Re-entered ... on breakout. stop recent 4hr low.
Re-entered.....going long?
  • #4,764
  • Feb 25, 2015 9:03pm Feb 25, 2015 9:03pm
Short at 184.89 based on 76.4 fib on 1hr and rising wedge......SL at 185.04. We'll see.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 71 KB
Lost....
  • #4,765
  • Feb 26, 2015 12:15am Feb 26, 2015 12:15am
Bank of Japan members say that Japan shouldn't rush to hit price target for the yen (i.e. no further stimulus needed right now).

Could explain the fall in gbp/jpy right now; whether this news makes something noteworthy is up to London session.

The pound is looking ripe to short at a bit higher-maybe right now, if you've lots of margins.
  • #4,766
  • Feb 26, 2015 12:37am Feb 26, 2015 12:37am
that cable should go up as long as 1.5483 holds......elliott wise....
  • #4,767
  • Feb 26, 2015 1:01am Feb 26, 2015 1:01am
Quoting Vermillion
Bank of Japan members say that Japan shouldn't rush to hit price target for the yen (i.e. no further stimulus needed right now). Could explain the fall in gbp/jpy right now; whether this news makes something noteworthy is up to London session. The pound is looking ripe to short at a bit higher-maybe right now, if you've lots of margins.
Love it when these bastards talk like that. A few months ago, their Yen was trading below 80 cents, it's now 118 ; yet they (and I must say, some posters on these forums) continually seem to 'forget' that theirs is a floating currency. I get kind of tired hearing comments such as "the BOJ will intervene if price drops below xy or z". And sometimes xyz is mentioned as close in as 117 or 115. If that's no good, why don't they just go back to a fixed exchange rate?

They're either completely arrogant, or totally stupid.
  • #4,768
  • Feb 26, 2015 2:09am Feb 26, 2015 2:09am
Quoting Vermillion
{quote} Right now, we seem to be retesting 184.80/70. We may even get to 184.50. but if we're still headed up, we shouldn't dip below 184 (most likely to remain above 184.50 in my opinion if 185.30 is soon to be hit) And on that note, expect the GBP in general to encounter a still resistance, since gbp/usd has a key area to overcome around 1.554~1.5600.
And there we go. 184.50 just got printed, let's see. Stay below 184.70 (or even 184.50), and we're probably heading lower. If it bounces back up, expect to see pries beyond 185 within a few hours.
  • #4,769
  • Edited 3:47am Feb 26, 2015 3:08am | Edited 3:47am
Nice drop, but has to get under 183.9 for the silliness to stop
  • #4,770
  • Feb 26, 2015 5:42am Feb 26, 2015 5:42am
Quoting Mpt
Nice drop, but has to get under 183.9 for the silliness to stop
Morning all. Very quiet this morning. I'm looking at a similiar level before deciding what to do next.
The bears have slowed down abit around the 184.3 previous resistance so we may see another go at 185 in which case I have a short ready to go.
  • #4,771
  • Feb 26, 2015 7:09am Feb 26, 2015 7:09am
Buy order set at 183.800
S/L 30
TP 185.000
  • #4,772
  • Edited 7:27am Feb 26, 2015 7:15am | Edited 7:27am
Little long at 422, SL 8.
out -8. Too early. Will try again if pattern improves.
  • #4,773
  • Feb 26, 2015 7:29am Feb 26, 2015 7:29am
Quoting cat
Little long at 422, SL 8. out -8. Too early. Will try again if pattern improves.
I wouldn't have tight SL for volatile pairs like the gbp/jpy. Unless you specifically caught it at a notable support/resistance, 8/10 it usually gets stopped out.
  • #4,774
  • Feb 26, 2015 7:32am Feb 26, 2015 7:32am
Quoting Vermillion
{quote} I wouldn't have tight SL for volatile pairs like the gbp/jpy. Unless you specifically caught it at a notable support/resistance, 8/10 it usually gets stopped out.
Of course, but that one was a bit of a gamble off a half chance set up on the 1m TF. I always use tight stops, which is why when I lose, I lose small. It works for me
  • #4,775
  • Feb 26, 2015 8:04am Feb 26, 2015 8:04am
Quoting FX-Ray
{quote} 1.1175 {image}
is next
  • #4,776
  • Feb 26, 2015 8:06am Feb 26, 2015 8:06am
Being held by the trend line atm, but too risky for me to try another shot at a long, and the momentum is still down on the higher frames.

Looking at 184.110 for another possible chance to go long.
  • #4,777
  • Feb 26, 2015 8:13am Feb 26, 2015 8:13am
Quoting cat
Being held by the trend line atm, but too risky for me to try another shot at a long, and the momentum is still down on the higher frames.
got this so far
Attached Image (click to enlarge)
Click to Enlarge Name: today.png Size: 295 KB
  • #4,778
  • Feb 26, 2015 8:16am Feb 26, 2015 8:16am
Quoting FX-Ray
{quote} got this so far {image}
I'm afraid you'll have to explain those charts to me somethime
  • #4,779
  • Feb 26, 2015 8:18am Feb 26, 2015 8:18am
30m 200ema at 968 coming up - will it hold?
  • #4,780
  • Feb 26, 2015 8:21am Feb 26, 2015 8:21am
Quoting FX-Ray
{quote} got this so far {image}
wow he lives

howdy ray ... how is it going for you?
5 traders viewing now