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Dragon Riders GBP/JPY

  • #7,821
  • Mar 17, 2015 11:01am Mar 17, 2015 11:01am
Anyway DP 179.70/60 rejected again
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  • #7,822
  • Mar 17, 2015 11:04am Mar 17, 2015 11:04am
Still holding the GJ long from earlier, from 179.026, with 1% SL at 178.4.

I'm curious on hearing people's view on this - why do you prefer short-term (30-40 minute to 1-2 hour trades) to 1-2-5-10-day trades?

For me, minding the market for potential entry and exit opportunities with proper SLs by the minute/15 minute chart is a lot of pressure so it's interesting to see the view and psychology of someone who does this on a regular daily basis. Cheers
  • #7,823
  • Mar 17, 2015 11:07am Mar 17, 2015 11:07am
Quoting alexpi
Still holding the GJ long from earlier, from 179.026, with 1% SL at 178.4. I'm curious on hearing people's view on this - why do you prefer short-term (30-40 minute trades) to 1-2-5-10-day trades? For me, minding the market for potential entry and exit opportunities with proper SLs by the minute/15 minute chart is a lot of pressure so it's interesting to see the view and psychology of someone who does this on a regular daily basis. Cheers
I just adjust myself to current market behaviour
  • #7,824
  • Mar 17, 2015 11:10am Mar 17, 2015 11:10am
Quoting FX-Ray
Anyway DP 179.70/60 rejected again {image}
If 178.70/60 gets taken out next probably 1/4 177.975/875; not sure if its gonna happen today
  • #7,825
  • Mar 17, 2015 11:14am Mar 17, 2015 11:14am
Quoting FX-Ray
Anyway DP 179.70/60 rejected again {image}
178.6 looking very weak now UJ up GU down
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  • #7,826
  • Mar 17, 2015 11:19am Mar 17, 2015 11:19am
Quoting thegmann
{quote} 178.6 looking very weak now UJ up GU down {image}
I took a tiny short: Reason. Everyone will long obvious support LOL
Fix up, trade sharp ...
  • #7,827
  • Mar 17, 2015 11:20am Mar 17, 2015 11:20am
Quoting thegmann
{quote} 178.6 looking very weak now UJ up GU down {image}
Yeah it does look weak, 178.60 needs to taken out for confirmation. I gonna end trading for today in ~40min, so I dont expect much of this atm.
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  • #7,828
  • Mar 17, 2015 11:21am Mar 17, 2015 11:21am
Quoting Hickson
{quote} I took a tiny short: Reason. Everyone will long obvious support LOL
Everyone in FF? I dont think traders in FF have an big impact on the market
  • #7,829
  • Mar 17, 2015 11:21am Mar 17, 2015 11:21am
Quoting FX-Ray
{quote} Yeah it does look weak, 178.60 needs to taken out for confirmation. I gonna end trading for today in ~40min, so I dont expect much of this atm. {image}
will you trade ahead of FOMC tomorrow?
Fix up, trade sharp ...
  • #7,830
  • Mar 17, 2015 11:21am Mar 17, 2015 11:21am
Quoting FX-Ray
{quote} Everyone in FF? I dont think traders in FF have an big impact on the market
No, more like every average retail trader.
Fix up, trade sharp ...
  • #7,831
  • Mar 17, 2015 11:23am Mar 17, 2015 11:23am
Quoting Hickson
{quote} I took a tiny short: Reason. Everyone will long obvious support LOL
Have a feeling markets are really going to end things today right on this TL going into FOMC...damn...can't wait to see where we go up or down, next week should be especially juicey once things get trending again. One things for sure we drop below this TL and some serious stops are going to get triggered. Right around the 178.00 level.
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  • #7,832
  • Mar 17, 2015 11:26am Mar 17, 2015 11:26am
Quoting thegmann
{quote} Have a feeling markets are really going to end things today right on this TL going into FOMC...damn...can't wait to see where we go up or down, next week should be especially juicey once things get trending again. One things for sure we drop below this TL and some serious stops are going to get triggered. {image}
Nothing is sure for me, but it is nothing that would be surprising. I want to wait what happens tomorrow so some new volatility might be created for the rest of the month.
Fix up, trade sharp ...
  • #7,833
  • Mar 17, 2015 11:26am Mar 17, 2015 11:26am
Quoting Hickson
{quote} will you trade ahead of FOMC tomorrow?
Today I dont think, its not a bad idea to wait and see what actually happens
  • #7,834
  • Mar 17, 2015 11:29am Mar 17, 2015 11:29am
Quoting FX-Ray
{quote} Today I dont think, its not a bad idea to wait and see what actually happens
GBP news tomorrow are something to take notice of. Maybe it offers something ... otherwise happy waiting and working mode.
Fix up, trade sharp ...
  • #7,835
  • Mar 17, 2015 11:34am Mar 17, 2015 11:34am
Quoting Hickson
{quote} GBP news tomorrow are something to take notice of. Maybe it offers something ... otherwise happy waiting and working mode.
Thanks, same to you
  • #7,836
  • Mar 17, 2015 11:37am Mar 17, 2015 11:37am
Quoting FX-Ray
{quote} Thanks, same to you
Thanks my friend.
Fix up, trade sharp ...
  • #7,837
  • Mar 17, 2015 11:41am Mar 17, 2015 11:41am
I hope we don't go too much below 178, if it were to get printed. After a certain point, I'll have to revise my weekly sentiment about the GBP/JPY then, since that wouldn't be natural for my current bullish scenario.

At any rate, I'm currently eyeing the GBP/NZD....my current bias is (surprisingly) bearish, and my price to watch is 2.0100/0080. I have a good chance of being wrong, since much of this is based on intuition in lieu of analysis. Analysis is rooted in my own personal price action determinants.

It would be hilarious if it did drop back down to 2.0000; that would frustrate a lot of bulls. And funny enough, I wouldn't be surprised to see that.
  • #7,838
  • Mar 17, 2015 11:48am Mar 17, 2015 11:48am
Quoting Vermillion
I hope we don't go too much below 178, if it were to get printed. After a certain point, I'll have to revise my weekly sentiment about the GBP/JPY then, since that wouldn't be natural for my current bullish scenario. At any rate, I'm currently eyeing the GBP/NZD....my current bias is (surprisingly) bearish, and my price to watch is 2.0100/0080. I have a good chance of being wrong, since much of this is based on intuition in lieu of analysis. Analysis is rooted in my own personal price action determinants. It would be hilarious if it did drop back...
I too hope the TL holds and my bullish sentiment remains but the pound has been getting unfarily punished lately and if markets go into risk off mode JPY could continue to gain strength.
  • #7,839
  • Mar 17, 2015 11:51am Mar 17, 2015 11:51am
Quoting thegmann
{quote} I too hope the TL holds and my bullish sentiment remains but the pound has been getting unfarily punished lately and if markets go into risk off mode JPY could continue to gain strength.
Starting from April or so, I would refrain from holding any monthly bias on the pound until the UK general elections are over, and look to long it on a potential daily scalp or a weekly swing trade, assuming that prices for all pound sterling pairs remain the same as they are today. The days before the elections will see a lot of people attempting to price in on the results early.
  • #7,840
  • Mar 17, 2015 11:52am Mar 17, 2015 11:52am
Am done for today, current range probably 1/2 179.10/00 and DP 178.70/60, laters

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