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Dragon Riders GBP/JPY

  • #7,421
  • Mar 13, 2015 11:06am Mar 13, 2015 11:06am
Thanks for the great week to all that contribute to the thread. Everyone have a great weekend.
  • #7,422
  • Mar 13, 2015 11:14am Mar 13, 2015 11:14am
Quoting js5020
Thanks for the great week to all that contribute to the thread. Everyone have a great weekend.
I'm out too looks like we'll see what happens at 178.85/75 DP point and 50% fibo level next week.
  • #7,423
  • Mar 13, 2015 11:18am Mar 13, 2015 11:18am
Quoting anima999
Afternoon team, GJ down about 200 pips for the day at the moment and I get nervous trading near the ADR. If the rejection goes up as far as 179.5 or even just 178.90 I might get in short again but otherwise I'm put off more shorts. Edit: Ray, a question if I may: when you decide your 'high probability reversal or continuation points' - 177.60 this week - other than your profiles how do you decide that level is significant? Cheers
Sure you may, it depends on mathematical characteristics and -position of the DP in the statistic based on empirical evidence and statistical criterions.
I observed certain behaviour of price in the past which led me to the conclusion this DP may be significant in the future.
This may change next week since I adapt to every changing market condition. Hope that helps.
  • #7,424
  • Mar 13, 2015 11:24am Mar 13, 2015 11:24am
Quoting FX-Ray
{quote} Sure you may, it depends on mathematical characteristics and -position of the DP in the statistic based on empirical evidence and statistical criterions. I observed certain behaviour of price in the past which led me to the conclusion this DP may be significant in the future. This may change next week since I adapt to every changing market condition. Hope that helps.
Thank you and yes.
The reason I ask is that I have been doing a bit of reading into trading TPO shapes and was wondering if there was a special something I should be looking for.

Cheers
  • #7,425
  • Mar 13, 2015 11:26am Mar 13, 2015 11:26am
Quoting anima999
{quote} Thank you and yes. The reason I ask is that I have been doing a bit of reading into trading TPO shapes and was wondering if there was a special something I should be looking for. Cheers
The devil is in the details, most of the time.
Look for what you dont see, not the obvious.
  • #7,426
  • Mar 13, 2015 11:30am Mar 13, 2015 11:30am
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  • #7,427
  • Mar 13, 2015 11:37am Mar 13, 2015 11:37am
Quoting FX-Ray
{quote} The devil is in the details, most of the time. Look for what you dont see, not the obvious.
Like this?
Attached Image
  • #7,428
  • Mar 13, 2015 11:40am Mar 13, 2015 11:40am
Quoting anima999
Like this?
Work out a concept and let me know then, I'll drop my 2 cents then
  • #7,429
  • Mar 13, 2015 11:44am Mar 13, 2015 11:44am
Thanks everybody for contributing and participating on this thread. This week was indeed great. Use your weekend to collect yourself and to do something for yourself.

I recommend you watching Pi - the Film, anti-holy-grail-syndrom-pill.

At that point I want to wish everyone a nice weekend. Peace

Inserted Video
  • #7,430
  • Mar 13, 2015 11:52am Mar 13, 2015 11:52am
Quoting Dano12
{image}
Just a couple views...we could infact continue down much further towards the 170 level (I don't find this view likely). We could have a smaller move back up and retest 187 levels and continue to range between 187/8-176/5 or we could continue upwards on our way to 200 (view I find most likely). Of course we could project lines all day only the market knows what it wants

Quoting thegmann
{quote} I'm out too looks like we'll see what happens at 178.85/75 DP point and 50% fibo level next week.
i lied just got price notification...
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  • #7,431
  • Mar 13, 2015 12:15pm Mar 13, 2015 12:15pm
Quoting FX-Ray
Thanks everybody for contributing and participating on this thread. This week was indeed great. Use your weekend to collect yourself and to do something for yourself. I recommend you watching Pi - the Film, anti-holy-grail-syndrom-pill. At that point I want to wish everyone a nice weekend. Peace https://www.youtube.com/watch?v=PuvJedWaGZ0
Nice weekend to all!



Schickeria
  • #7,432
  • Mar 13, 2015 12:16pm Mar 13, 2015 12:16pm
Quoting FX-Ray
{quote} I agree here, Schickeria has outstanding knowledge about fibs and compared to him I look like a bloody noob You're welcome {image}
cool deal on this thread, man..
Shicks 1.0233.......elliotteers have a target of .0240.....
  • #7,433
  • Mar 13, 2015 12:20pm Mar 13, 2015 12:20pm
Quoting Schickeria
{quote} Nice weekend to all! Schickeria
Nice to see you back and here!

Enjoy the weekend everyone! Catch ya all on Monday!
  • #7,434
  • Mar 13, 2015 12:29pm Mar 13, 2015 12:29pm
Quoting thegmann
{quote} yeah but you just have to be careful when the levels are broken as was the case here then you should look for next one or at least wait for confirmation. {quote} 178.2 edit: new LL lets do this {image}
well as least i was right. Too bad exited the trade next week should be fun!
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  • #7,435
  • Mar 13, 2015 12:33pm Mar 13, 2015 12:33pm
Quoting FX-Ray
Guys makin' money here
  • #7,436
  • Mar 13, 2015 2:27pm Mar 13, 2015 2:27pm
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  • #7,437
  • Mar 13, 2015 3:05pm Mar 13, 2015 3:05pm
Quoting FX-Ray
{quote} Hi Jeremy, is that ToS platform, is it reliable? Cheers!
Hey FX yea its pretty reliable. I use it through TD ameritrade pip spread had become better too.. I Like the ondemand ability.. lets you practice trade any given date..

Got in a lil early but still made pips .. In the end thats all that matters
  • #7,438
  • Mar 13, 2015 4:14pm Mar 13, 2015 4:14pm
Quoting workingforex
{quote} Nice to see you back and here! Enjoy the weekend everyone! Catch ya all on Monday!
Thank you mate...
  • #7,439
  • Mar 13, 2015 10:05pm Mar 13, 2015 10:05pm
on coming week, i wont be surprise for it to go up, but max will be 182.50, then on following week it might drop to 175.60

what is your thought guys?
  • #7,440
  • Mar 13, 2015 11:08pm Mar 13, 2015 11:08pm
Quoting stanvy
on coming week, i wont be surprise for it to go up, but max will be 182.50, then on following week it might drop to 175.60 what is your thought guys?
Yes, seems ready to resume overall uptrend. The focus will most likely turn to JPY this week, which should see this happen - or otherwise a surprise move by Abe / BOJ to strengthen the JPY.
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