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Dragon Riders GBP/JPY

  • #9,161
  • Mar 24, 2015 7:53am Mar 24, 2015 7:53am
Quoting AllyB
{quote} got online too late so my bad
got a meeting so back in 1/2 hour
  • #9,162
  • Mar 24, 2015 7:53am Mar 24, 2015 7:53am
Quoting thegmann
{quote} its a risky trade though GBP isn't looking super rosy and a 1000 pip red monthly is a bit scary on GA but the channels been tested and seems to have proved itself a bit content with a 1:5 1:4 risk to reward here especially with Aussie looking a bit over extended.
yes, the boys I hang with love a trend line that touches four times.......that's a strong one....
  • #9,163
  • Mar 24, 2015 7:58am Mar 24, 2015 7:58am
Quoting Gbp/jpy
{quote} yes, the boys I hang with love a trend line that touches four times.......that's a strong one....
Thats what im banking on
  • #9,164
  • Mar 24, 2015 7:58am Mar 24, 2015 7:58am
Quoting FX-Ray
{quote} probable test of 1.0945
If its support expect some attempts to the highs, if resistance stick to 1.0866
  • #9,165
  • Mar 24, 2015 9:22am Mar 24, 2015 9:22am
maybe UJ has put a short term bottom in, at an rate, I look for a place to long...nothing yet...
Look Sharp/Trade Tight
  • #9,166
  • Mar 24, 2015 9:27am Mar 24, 2015 9:27am
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  • #9,167
  • Mar 24, 2015 10:11am Mar 24, 2015 10:11am
Quoting PayTheLimit
maybe UJ has put a short term bottom in, at an rate, I look for a place to long...nothing yet...
did you get in?

lookin at it also
  • #9,168
  • Mar 24, 2015 10:50am Mar 24, 2015 10:50am


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  • #9,169
  • Mar 24, 2015 11:08am Mar 24, 2015 11:08am
Bit of a bad day for me. What should have been a couple of nice scalps turned into losses by me making silly mistakes.
Perhaps should have looked elsewhere for more obvious trades.
O well there's always tomorrow.
  • #9,170
  • Mar 24, 2015 11:13am Mar 24, 2015 11:13am
Quoting anima999
Bit of a bad day for me. What should have been a couple of nice scalps turned into losses by me making silly mistakes. Perhaps should have looked elsewhere for more obvious trades. O well there's always tomorrow.
Yeah, today has been annoying. We kept getting 70pip range trading bounces in between supports/resistances with no clear direction. As much as I'd loved to buy and sell on each highs and lows, I didn't want to risk catching a falling knife, so I just stuck to my shorts. Still in profit, but we've made no headway since 8 hours ago.

Who knows. It might just break below 177.850 decisively, at which we can expect 177.35~176.90. That's going to be the main point of contention for me following this support's penetration. We may even go further below between now and tomorrow.

As for eur/usd, we seem to be looking to the lower ground, but I would NOT be surprised to see 1.1000~1.1500 printed right before a heavy fall. It could very well be possible that the eur/usd will fall down a peg or two to the next few supports, bounce back up, reach 1.1000, and then fall down like a stone.

Or maybe I'm just crazy, but who knows.
  • #9,171
  • Mar 24, 2015 11:13am Mar 24, 2015 11:13am
Quoting anima999
Bit of a bad day for me. What should have been a couple of nice scalps turned into losses by me making silly mistakes. Perhaps should have looked elsewhere for more obvious trades. O well there's always tomorrow.
If you did not risk too much, it should be possible to repair it. I also started the repairing process of yesterday with some nice Dollar-longs today! See you tomorrow, when the dragon might finally awake if it wants to lol
Fix up, trade sharp ...
  • #9,172
  • Mar 24, 2015 11:19am Mar 24, 2015 11:19am
here's my current gbp/jpy picture. 3 shorts in process.

Shorting from: 179, 178.847, 177.831.

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Rather risky, adding a short right around the current support of 177.850, but it's a risk I'm willing to take with my current account.

Update 1: Confirmed break of 178.850/750. Moving onto lower areas.
  • #9,173
  • Mar 24, 2015 11:23am Mar 24, 2015 11:23am
Quoting Hickson
{quote} If you did not risk too much, it should be possible to repair it. I also started the repairing process of yesterday with some nice Dollar-longs today! See you tomorrow, when the dragon might finally awake if it wants to lol
Not too much, 2% down but I think I caught the bad vibes that plagued you yesterday. Stops too tight, dodgy entries, optimistic TPs, over trading...you name it, I was doing it.
I would love to trade one of the other pairs as a backup but struggle with time so figure its best to concentrate on one rather half concentrate on two. In particular EU would be good except that thread just isn't helpful so I would be going it alone.
  • #9,174
  • Mar 24, 2015 11:34am Mar 24, 2015 11:34am
sooo close you can dooo it
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  • #9,175
  • Mar 24, 2015 11:36am Mar 24, 2015 11:36am
Quoting anima999
{quote} Not too much, 2% down but I think I caught the bad vibes that plagued you yesterday. Stops too tight, dodgy entries, optimistic TPs, over trading...you name it, I was doing it. I would love to trade one of the other pairs as a backup but struggle with time so figure its best to concentrate on one rather half concentrate on two. In particular EU would be good except that thread just isn't helpful so I would be going it alone.
Two is ok, more if you are getting proficient. But I think trading more than 4-6 pairs on a regular basis does not make much sense and intraday 2 are more than enough.
Fix up, trade sharp ...
  • #9,176
  • Mar 24, 2015 11:55am Mar 24, 2015 11:55am
Food for thought:

8 Reasons Why You Should Never Become A Day Trader

Nice evening everyone, laters.
  • #9,177
  • Mar 24, 2015 11:57am Mar 24, 2015 11:57am
Bailed out of my GA long on spike up before to re enter at where I originally was looking to get filled but missed. Got it filled at 1.8860 right on the TL, better spot than I had before when entered prematurely. SL around 100ish pips below.

GJ testing 177.5/6 area now too broke below 177.875 zone

GN hit TL on daily have pending buys at 1.9375
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  • #9,178
  • Mar 24, 2015 11:58am Mar 24, 2015 11:58am
Quoting FX-Ray
Food for thought: 8 Reasons Why You Should Never Become A Day Trader Nice evening everyone, laters.
But you are one Gn8!
Fix up, trade sharp ...
  • #9,179
  • Mar 24, 2015 12:01pm Mar 24, 2015 12:01pm
Quoting Hickson
{quote} But you are one Gn8!
I know buddy, this is for those havent reached the point of no return.
  • #9,180
  • Mar 24, 2015 12:05pm Mar 24, 2015 12:05pm
Quoting FX-Ray
Food for thought: 8 Reasons Why You Should Never Become A Day Trader Nice evening everyone, laters.
Good read Ray...


"I know some very good daytraders. In the long run it is possible to make money daytrading. But it’s hard and it takes years to build the psychology. Every good daytrader I know suffers from all of the above. You have to be extremely humble, have no delusions of grandeur when it comes to your market opinions, take losses as quickly as possible, and not get discouraged."

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