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Dragon Riders GBP/JPY

  • #6,381
  • Mar 9, 2015 1:59pm Mar 9, 2015 1:59pm
“With the new day comes new strength and new thoughts.”

Eleanor Roosevelt




night all...PTL..
Look Sharp/Trade Tight
  • #6,382
  • Mar 9, 2015 2:02pm Mar 9, 2015 2:02pm
Quoting Hickson
{quote} Well done, yeah ... the art I am still struggling with is the difference between knowing when to take 50 pips of profit and when to let it run. I tend to get s/o at BE on these 20-60 pips + trades a lot and on the other hand tp too early on huge runners. Must be something to fix, I do not think it is all just bad luck atm, even if it looks like it as close as it often was.
sent you a pm
  • #6,383
  • Mar 9, 2015 2:14pm Mar 9, 2015 2:14pm
Quoting raiders
{quote} sent you a pm
I'll have a look mate.
Fix up, trade sharp ...
  • #6,384
  • Mar 9, 2015 2:16pm Mar 9, 2015 2:16pm
Quoting PayTheLimit
With the new day comes new strength and new thoughts. Eleanor Roosevelt night all...PTL..
Well said, good night buddy
  • #6,385
  • Mar 9, 2015 2:17pm Mar 9, 2015 2:17pm
Quoting PayTheLimit
{quote} ditto, -15x2, shit day to be shorting this thing...shit day all around mostly...
you have no idea how much shit it really is

tomorrow we will kick ass

you have a good night and I actually have the vodka bottle by my side ... early but what the hell
  • #6,386
  • Mar 9, 2015 2:17pm Mar 9, 2015 2:17pm
Two scenarios
GJ H1
Attached Images
A good trader follows his rules, but great trader knows when to break them
  • #6,387
  • Mar 9, 2015 2:26pm Mar 9, 2015 2:26pm
Quoting Hickson
{quote} Well done, yeah ... the art I am still struggling with is the difference between knowing when to take 50 pips of profit and when to let it run. I tend to get s/o at BE on these 20-60 pips + trades a lot and on the other hand tp too early on huge runners. Must be something to fix, I do not think it is all just bad luck atm, even if it looks like it as close as it often was.
I am sure, we all do that mate, trust me I do it all the time, the only thing I have been trying to do it practising not to enter too quick, it test a lot nerves but its okay for the minute and taking a lot less trades, most of the times it is one which works and 2-3 gets stopped out! I am sure you are doing good and will do better!
  • #6,388
  • Mar 9, 2015 2:44pm Mar 9, 2015 2:44pm
did a little more homework on GY...two levels I marked are 184.38 and 182.86, will look for some action off those in some capacity...night all
Look Sharp/Trade Tight
  • #6,389
  • Mar 9, 2015 2:50pm Mar 9, 2015 2:50pm
Quoting PayTheLimit
did a little more homework on GY...two levels I marked are 184.38 and 182.86, will look for some action off those in some capacity...night all
I just looked at my chart and observed two things: First - H4 down trend line broken with elongated flat and bullish engulfing bars. Second: 182.86 pivot - 182.80 level of Ray might provide H4 support. If positive I will long there.
Fix up, trade sharp ...
  • #6,390
  • Mar 9, 2015 2:52pm Mar 9, 2015 2:52pm
Quoting Hickson
{quote} I just looked at my chart and observed two things: First - H4 down trend line broken with elongated flat and bullish engulfing bars. Second: 182.86 pivot - 182.80 level of Ray might provide H4 support. If positive I will long there.
Also possible it just retrace to DP 183.10/00 (2morrow's low?) to find support, daily close 5 March'15 - 183.05
  • #6,391
  • Mar 9, 2015 3:06pm Mar 9, 2015 3:06pm
Quoting raiders
{quote} sent you a pm
Can you send me one too please? I could do with a psychology lesson or two myself....
used to be undecided but nowadays can't make my mind up
  • #6,392
  • Mar 9, 2015 3:10pm Mar 9, 2015 3:10pm
Quoting FX-Ray
{quote} Also possible it just retrace to DP 183.10/00 (2morrow's low?) to find support, daily close 5 March'15 - 183.05
Let's see what muschi wants tomorrow ...
Fix up, trade sharp ...
  • #6,393
  • Mar 9, 2015 3:12pm Mar 9, 2015 3:12pm
Quoting Hickson
{quote} I just looked at my chart and observed two things: First - H4 down trend line broken with elongated flat and bullish engulfing bars. Second: 182.86 pivot - 182.80 level of Ray might provide H4 support. If positive I will long there.
Nobody can predict where price is going so what's the point in drawing lines etc
Just work out where the 'areas of interest' are and trade according. The universe is Mandelbrotian by design, you can spot some patterns but they certainly don't follow straight lines...ie ones that aren't horizontal, lol
Dunno, am I getting closer Ray?
used to be undecided but nowadays can't make my mind up
  • #6,394
  • Mar 9, 2015 3:22pm Mar 9, 2015 3:22pm
Quoting mrcreosote
{quote} Nobody can predict where price is going so what's the point in drawing lines etc Just work out where the 'areas of interest' are and trade according. The universe is Mandelbrotian by design, you can spot some patterns but they certainly don't follow straight lines...ie ones that aren't horizontal, lol Dunno, am I getting closer Ray?
Well, with that you would state that TL are basically useless ... I would not agree on that. Even though I found horizontal lines best for me so far.
Fix up, trade sharp ...
  • #6,395
  • Mar 9, 2015 3:27pm Mar 9, 2015 3:27pm
Quoting Hickson
{quote} Well, with that you would state that TL are basically useless ... I would not agree on that. Even though I found horizontal lines best for me so far.
yes they are, price is price regardless of time. Obviously there are times of the day when volatility is higher and this is a better time of the day to trade. Nobody wants to be trading a flatliner (hey remember that movie flatliners?) and the appeal of the dragon is she swings her hips around a lot when she gets going. Shake it baby!!
EDit; ahh are you meaning TL = trendline, I was thinking you meant timeline? But still, 'a trend is only a trend until the bend at the end' :nerd:
used to be undecided but nowadays can't make my mind up
  • #6,396
  • Mar 9, 2015 3:30pm Mar 9, 2015 3:30pm
Quoting mrcreosote
{quote} yes they are, price is price regardless of time. Obviously there are times of the day when volatility is higher and this is a better time of the day to trade. Nobody wants to be trading a flatliner (hey remember that movie flatliners?) and the appeal of the dragon is she swings her hips around a lot when she gets going. Shake it baby!!
I believe the TFs you draw them are of importance. If you start drawing every 1 minute TL, it surely is a joke. But in the bigger picture, TLs often are respected from my experience. I am not an expert with these, but in the past weeks I worked out some nice charts where they gave many clues and setups: Especially in cable where I was drawing channels!
Fix up, trade sharp ...
  • #6,397
  • Mar 9, 2015 3:33pm Mar 9, 2015 3:33pm
Quoting Hickson
{quote} I believe the TFs you draw them are of importance. If you start drawing every 1 minute TL, it surely is a joke. But in the bigger picture, TLs often are respected from my experience. I am not an expert with these, but in the past weeks I worked out some nice charts where they gave many clues and setups: Especially in cable where I was drawing channels!
well said
  • #6,398
  • Mar 9, 2015 3:45pm Mar 9, 2015 3:45pm
target 179.50
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH4 9.03 - Copy.png Size: 30 KB
  • #6,399
  • Mar 9, 2015 3:47pm Mar 9, 2015 3:47pm
OK check out this graph, it hasn't really gone up in the last 15 years and yet many an investor has become a millionaire as a result of it. Maybe because they have played with other people's money, lol
Attached Image

And the chart is.....UK Ftse 100
You can probably say the same about most forex charts too. The reason the EU started to dump from 1.39 was due to what Draghi said at a press conference in May, so OK a trendline shows it's been going down since May but that's nothing to do with time really, it's to do with ECB policy and Draghi reversing his 'the Euro is irreversible' rhetoric to 'damn and blast the Euro is far too overvalued' rhetoric...
used to be undecided but nowadays can't make my mind up
  • #6,400
  • Mar 9, 2015 3:55pm Mar 9, 2015 3:55pm
Quoting goshko147
target 179.50 {image}
Christ you must have millions with a stop loss that wide, dunno what you're going hanging around here
used to be undecided but nowadays can't make my mind up
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