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Dragon Riders GBP/JPY

  • #7,901
  • Mar 18, 2015 4:38am Mar 18, 2015 4:38am
Quoting Tom_D_Trader
{quote} Nice chart, I like simple. Am having almost the very same numbers, what a surprise when I also use fibo . I can see yours 180,9 test pretty valid for both bears and bulls... followed...181,5, should bulls wanna take control. Edit: Btw, JPY trade balance data in 40. Low Oil could give us good data, but whatda we know huh? Speaking of which, just bought it. Primary stops 178,14 {image}
Oh, unexpected data :/. Thanks a lot, I got cut. Now where huh? I got 176,28 as next stop. Coincides with UJ correction down to 120,42. Would be fine, but eh, I dont like loosing.
Quoting Hickson
Bad UK data + no rate hike in near future = goodbye GBP ...
BS elections!
"I know one thing, that I know nothing." Sokrates
  • #7,902
  • Mar 18, 2015 4:38am Mar 18, 2015 4:38am
Quoting Hickson
{quote} Not so easy to stay emotionless after being stopped out of a short 4 times and seeing this: {image}
nothing you can do it could have went either way I would say since you were trading in such volatile time keep your SL open don't move to BE a 179 short with a 179.2 SL above DP would have kept you in the position, be confident in your trade and put SL in position where you know if hit then sentiment has changed, use it to your advantage not your detriment.
  • #7,903
  • Mar 18, 2015 4:39am Mar 18, 2015 4:39am
Quoting Mpt
143 or so days ago, GJ broke into a consolidation 'area' at 179.8 and didn't fall back. I'm sure many of us recall that day. This 'shit fight' is it attempting to leave that area. Around here it may be quite volatile until it departs ... or breaks back in. It may simply drop, or come back to test this area later at higher levels.
Now if UJ can fall back another 5-10 pips we've got ourselves a drop
  • #7,904
  • Mar 18, 2015 4:40am Mar 18, 2015 4:40am
Quoting PayTheLimit
{quote} gonna try some shorts here, risk 15, try for 80...
ship sailed on shorts, canning hose offers...
Look Sharp/Trade Tight
  • #7,905
  • Mar 18, 2015 4:44am Mar 18, 2015 4:44am
If 1/4 177.975/875 support next is DP 178.70/60, if resistance next is 1/2 177.25/15
  • #7,906
  • Mar 18, 2015 4:46am Mar 18, 2015 4:46am
Quoting thegmann
{quote} nothing you can do it could have went either way I would say since you were trading in such volatile time keep your SL open don't move to BE a 179 short with a 179.2 SL above DP would have kept you in the position, be confident in your trade and put SL in position where you know if hit then sentiment has changed, use it to your advantage not your detriment.
Got in too late, still with good MM, but paid for it.
Fix up, trade sharp ...
  • #7,907
  • Mar 18, 2015 4:49am Mar 18, 2015 4:49am
Quoting FX-Ray
If 1/4 177.975/875 support next is DP 178.70/60, if resistance next is 1/2 177.25/15
OK getting a hang of the lingo now. Lot's of movement after that data. Maybe not a question to be answered right now as it's quite busy but I am interested into how/when you would enter and order once you decide whether the 1/2 has held as support or become a new resistance. I see this it does indeed like to hit these levels. But I guess what I'm trying to figure out is how to actually trade it. Is there a page on this thread that sums that up or do you all discuss it here. (There are A LOT of pages in this thread to go through....would take me weeks I reckon!)

I have some smaller lon term GJ longs that i am holding but obviously last 2 weeks moves have me questioning it now. Hmm. fallen into some bad money management there but would like to learn this DP in the meantime. Any help or kicks in the right direction very much appreciated.
  • #7,908
  • Mar 18, 2015 4:50am Mar 18, 2015 4:50am
Quoting FX-Ray
If 1/4 177.975/875 support next is DP 178.70/60, if resistance next is 1/2 177.25/15
lets see...
Attached Image (click to enlarge)
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  • #7,909
  • Mar 18, 2015 4:55am Mar 18, 2015 4:55am
Its like Boom ..Profit SL isnt work ..
BTW : Strong Support 177.74 fibo -50
  • #7,910
  • Mar 18, 2015 4:56am Mar 18, 2015 4:56am
might have some support here at 177.69, but not tradable for me..
Look Sharp/Trade Tight
  • #7,911
  • Mar 18, 2015 4:57am Mar 18, 2015 4:57am
Quoting thegmann
{quote} lets see... {image}
pending target 177.25

Filled, will close this out prior to FOMC whether target hit or not
Attached Image (click to enlarge)
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  • #7,912
  • Mar 18, 2015 4:59am Mar 18, 2015 4:59am
Quoting Tom_D_Trader
{quote} Oh, unexpected data :/. Thanks a lot, I got cut. Now where huh? I got 176,28 as next stop. Coincides with UJ correction down to 120,42. Would be fine, but eh, I dont like loosing. {quote} BS elections!
176,00 Area :-)
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDaily.png Size: 66 KB
  • #7,913
  • Mar 18, 2015 5:00am Mar 18, 2015 5:00am
Quoting FX-Ray
{quote} If I watch the daily chart E/U I can help myself to see a healthy retracement towards 1.0750 depending what's announced in the FOMC and thats exactly where the problems start.
thanks Ray, my view is opposite than yours however...
  • #7,914
  • Mar 18, 2015 5:02am Mar 18, 2015 5:02am
Quoting thegmann
{quote} 177.5 here we come then 176.3 break that and looking towards my long term 170.85 target
agree with you thegmann, beware it will bounce at 175.5 before continuing to south
  • #7,915
  • Mar 18, 2015 5:02am Mar 18, 2015 5:02am
Once it clears here and about 174.7, nothing else matters
  • #7,916
  • Mar 18, 2015 5:02am Mar 18, 2015 5:02am
Quoting stanvy
{quote} thanks Ray, my view is opposite than yours however...
which is completely fine, even appreciated
  • #7,917
  • Mar 18, 2015 5:03am Mar 18, 2015 5:03am
Quoting Hickson
{quote} Not so easy to stay emotionless after being stopped out of a short 4 times and seeing this: {image}
I've been watching and have yet to place a trade. There is downside momentum but we are not done today with big news. Still a little dangerous to short. If H4 closes below 177.6, I'll wait for a retrace and re-cross to go short again for a good high probability trade with TP at 176, which is significant in determining future trend (will it bounce... again or break through, anyone with fundamental expert opinion here?). I guess H4 is just my level of comfort after all. :-/ I still can't trade the DPs on LTF live yet, hehe. Here is my tentative outlook (so only small trades til then, hehe):

Attached Image (click to enlarge)
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Still 3 hours to go, so we may still see a H4 pin-bar before this happens ^.^ Just gotta wait.
insanity: Doing the same thing over... and expecting different results -AE
  • #7,918
  • Mar 18, 2015 5:04am Mar 18, 2015 5:04am
Quoting stanvy
{quote} agree with you thegmann, beware it will bounce at 175.5 before continuing to south
we shall see

getting close
Attached Image (click to enlarge)
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  • #7,919
  • Mar 18, 2015 5:05am Mar 18, 2015 5:05am
Quoting Petr.K
{quote} 176,00 Area :-) {image}
I am going to shoot myself in the meanwhile and then buy it. In May, after those elections
"I know one thing, that I know nothing." Sokrates
  • #7,920
  • Mar 18, 2015 5:06am Mar 18, 2015 5:06am
Quoting Tom_D_Trader
{quote} I am going to shoot myself in the meanwhile and then buy it. In May, after those elections
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