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Dragon Riders GBP/JPY

  • #5,061
  • Mar 2, 2015 9:54am Mar 2, 2015 9:54am
E/U and G/J trades, last ones for today; G/J second and last attempt, E/U same.
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  • #5,062
  • Mar 2, 2015 9:57am Mar 2, 2015 9:57am
We're about 23 pips away from a stiff gbp/usd support. If we retest around 184.25 and the cable hit the support, then it'll be difficult to hit 184.00/183.90, and even more so to go below.

Edit: took profit.
  • #5,063
  • Mar 2, 2015 10:00am Mar 2, 2015 10:00am
Ray, you full time trader?
  • #5,064
  • Mar 2, 2015 10:02am Mar 2, 2015 10:02am
Quoting FX-Ray
E/U and G/J trades, last ones for today; G/J second and last attempt, E/U same. {image} {image}
Okay am done for today, E/U still open. Day could be better but at least still green. Laters
  • #5,065
  • Mar 2, 2015 10:02am Mar 2, 2015 10:02am
Quoting op3lis
Ray, you full time trader?
Jap
  • #5,066
  • Mar 2, 2015 10:03am Mar 2, 2015 10:03am
cool, good luck for you
  • #5,067
  • Mar 2, 2015 10:21am Mar 2, 2015 10:21am
Waiting all day for my EA and EU limits to be filled to be S/O BE lol ... it happens. Back in EA, plus 45 so far ...
Fix up, trade sharp ...
  • #5,068
  • Mar 2, 2015 10:23am Mar 2, 2015 10:23am
has anyone else had ghost traders on your platform....?....kinda fun when ya can manage the mystery trades....are they local hacks or broker fraud, I don't know. just curious
  • #5,069
  • Mar 2, 2015 10:30am Mar 2, 2015 10:30am
On the 15min. chart, usd/jpy seems to be forming a hill with 120 being the initial key support to test.

In relation with gbp/jpy, that probably means we've a good chance of testing 184.25 again (maybe, maybe not). Unfortunately, if 120 does show some strength as support, it'll likely mean more range trading. If 120 breaks, then it's back to the original goals of 184.00/183.90 & 183.70/60

Oh goody.
  • #5,070
  • Edited 12:01pm Mar 2, 2015 11:23am | Edited 12:01pm
Quoting Vermillion
On the 15min. chart, usd/jpy seems to be forming a hill with 120 being the initial key support to test. In relation with gbp/jpy, that probably means we've a good chance of testing 184.25 again (maybe, maybe not). Unfortunately, if 120 does show some strength as support, it'll likely mean more range trading. If 120 breaks, then it's back to the original goals of 184.00/183.90 & 183.70/60 Oh goody.
usd/jpy at 120.040, gbp/jpy at 184.315. We're getting close, as expected.

Good chance of seeing a bounce back to 184.50-ish, +/- 10 pips in the next few hours.

update: Close to hitting the 184.50 bounce. We've hit 184.50 Let's see where this leads.
  • #5,071
  • Mar 2, 2015 11:33am Mar 2, 2015 11:33am
still shocked that the strong pmi report barely moved the needle. telling me its not ready to break 185. im looking for that 182.587 again lets see how it goes
  • #5,072
  • Mar 2, 2015 11:36am Mar 2, 2015 11:36am
Quoting raiders
still shocked that the strong pmi report barely moved the needle. telling me its not ready to break 185. im looking for that 182.587 again lets see how it goes
News wasn't great. It wasn't horrible, but it was below expectations. So no, it's actually the other way around based on conventional logic. Not that conventional logic for news works in forex, mind you, but that's that.

Hitting below 183.70/60 prior to Friday will be a challenge, as is hitting 186. Important news like NFP always causes relevant currency pairs to "coil up" in their trading ranges in preparation for a big move.

Update: Price hasn't really tested the 61.8 retracement at 184.250.....barely missing it by a couple pips. A bit too close for comfort.
  • #5,073
  • Mar 2, 2015 11:41am Mar 2, 2015 11:41am
Quoting Vermillion
{quote} News wasn't great. It wasn't horrible, but it was below expectations. So no, it's actually the other way around based on conventional logic. Not that conventional logic for news works in forex, mind you, but that's that.
new month, pair in an bullish trend, nearing strong resistance and it beat expectations. 54.1 as opposed to 53.5. granted it wasnt a home run but that a solid number. on top of the yen looking weak accross the board today i really expected more pop out of it
  • #5,074
  • Mar 2, 2015 11:46am Mar 2, 2015 11:46am
Quoting raiders
{quote} new month, pair in an bullish trend, nearing strong resistance and it beat expectations. 54.1 as opposed to 53.5. granted it wasnt a home run but that a solid number. on top of the yen looking weak accross the board today i really expected more pop out of it
Ah, sorry. I thought you were talking about US news. you were referring to the U.K. one. I haven't really paid much attention to UK news in the past few weeks; I just trade it whenever it's noticeably oversold/overbought on the 4hrly and daily.

BOE has been busy making the UK economy look more rosy than it really is, so I just ignore the average intraday news from the U.K.
  • #5,075
  • Mar 2, 2015 11:48am Mar 2, 2015 11:48am
Quoting Vermillion
{quote} Ah, sorry. I thought you were talking about US news. you were referring to the U.K. one. I haven't really paid much attention to UK news in the past few weeks; I just trade it whenever it's noticeable oversold/overbought on the 4hrly and daily. BOE has been busy making the UK economy look more rosy than it is, so I just ignore the average intraday news from the U.K.
gotcha. yea theyre supposed to say more nothing on thurs so i figured if this news was good then this would be the news to move it this week. i was wrong
  • #5,076
  • Mar 2, 2015 2:56pm Mar 2, 2015 2:56pm
Some UK news tomorrow and JPY overnight. I'm debating setting another short at 185 for the Asia session and then keeping an eye on a long just incase the UK news kicks price through 185.
Any opinions?
  • #5,077
  • Edited 4:40pm Mar 2, 2015 4:27pm | Edited 4:40pm
Another one of those days. Break now over 184.8/9 has it up again, either more crawling or violently.

Break down over the next few hours to 183.7 and below 183.5/6 has it finished, probably back into 181.7, but with a likely retest then of 184x before lower.
  • #5,078
  • Mar 2, 2015 4:40pm Mar 2, 2015 4:40pm
Quoting anima999
Some UK news tomorrow and JPY overnight. I'm debating setting another short at 185 for the Asia session and then keeping an eye on a long just incase the UK news kicks price through 185. Any opinions?
I checked the estimations and nothing special or impressing on the JPY side.. how do you planning to go short based on those weak data? I stay long for sure.

Happy Trades
Focus only on what truly matters!
  • #5,079
  • Mar 2, 2015 4:43pm Mar 2, 2015 4:43pm
Waiting for a better price to long. It might test 184.50 once more. If it does get printed, SL will be a confirmed break of 184.250.
  • #5,080
  • Mar 2, 2015 5:00pm Mar 2, 2015 5:00pm
A fade back under 184.4 and a third day of marginally lower daily wicks, might suggest, though, a slow roll over in progress.
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