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Dragon Riders GBP/JPY

  • #9,221
  • Mar 25, 2015 7:42am Mar 25, 2015 7:42am
I'm going to take profit on whatever spike down we'll get for the gbp/jpy. My price action isn't feeling too good on breaking 177.85 for now, let alone 177.50. Hoping to get upper 177s, but no expectations for now.

I'll probably get a small long for the eur/usd or gbp/jpy, and have a short order for gbp/jpy at 178.90/80
  • #9,222
  • Mar 25, 2015 7:44am Mar 25, 2015 7:44am
Quoting FX-Ray
{quote} got long there for 1.1030 Add: I wonder if there is more than 1.1030
too bad, waiting for now.
  • #9,223
  • Mar 25, 2015 7:47am Mar 25, 2015 7:47am
Quoting FX-Ray
{quote} too bad, waiting for now.
Try again at 1.0950/40? That seems like a decent area to long.

I expect 1.10000 to be cleanly broken; only question is how much further.
  • #9,224
  • Mar 25, 2015 7:54am Mar 25, 2015 7:54am
Quoting Vermillion
{quote} Try again at 1.0950/40? That seems like a decent area to long. I expect 1.10000 to be cleanly broken; only question is how much further.
Yap, I still see 1.1030
  • #9,225
  • Mar 25, 2015 7:55am Mar 25, 2015 7:55am
I think it's a thread for GBPJPY....lol
MAKE SURE you still can TRADE tomorrow
  • #9,226
  • Mar 25, 2015 7:58am Mar 25, 2015 7:58am
Quoting senanata
I think it's a thread for GBPJPY....lol
True but if G/J is ranging we like to switch
  • #9,227
  • Mar 25, 2015 8:04am Mar 25, 2015 8:04am
Quoting FX-Ray
{quote} True but if G/J is ranging we like to switch
got a dustbin in ... price hit +15 before I could get my TP set so took the 15
Attached Image (click to enlarge)
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  • #9,228
  • Mar 25, 2015 8:05am Mar 25, 2015 8:05am
Quoting AllyB
{quote} got a dustbin in ... price hit +15 before I could get my TP set so took the 15 {image}
  • #9,229
  • Mar 25, 2015 8:08am Mar 25, 2015 8:08am
Quoting AllyB
{quote} got a dustbin in ... price hit +15 before I could get my TP set so took the 15 {image}
Nice one
  • #9,230
  • Mar 25, 2015 8:10am Mar 25, 2015 8:10am
lol, tricked myself with this long ... do not try this at home.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 4 KB
Fix up, trade sharp ...
  • #9,231
  • Mar 25, 2015 8:15am Mar 25, 2015 8:15am
For a brief moment in the volatility, I saw a 1pip spread from my broker for the gbp/jpy. It was so beautiful

...Too bad it didn't last even 0.33 seconds before going back to 2-4.
  • #9,232
  • Mar 25, 2015 8:20am Mar 25, 2015 8:20am
Quoting FX-Ray
{quote}

oh so true

expecially this week ... so far anyway

what happened to our 300-400 pip ADR days of last week
  • #9,233
  • Mar 25, 2015 8:23am Mar 25, 2015 8:23am
Quoting FX-Ray
{quote} True but if G/J is ranging we like to switch
Huuuffffffffttttt... :-(
MAKE SURE you still can TRADE tomorrow
  • #9,234
  • Mar 25, 2015 8:27am Mar 25, 2015 8:27am
Wow this is a mess neither GJ or EU are looking good today,,,,, both look to be a chopfest, sure glad I didn't get up at 5am.
  • #9,235
  • Mar 25, 2015 8:29am Mar 25, 2015 8:29am
Quoting js5020
Wow this is a mess neither GJ or EU are looking good today,,,,, both look to be a chopfest, sure glad I didn't get up at 5am.
lol true ... I think I call it a day, I got chopped up on these ranges ... if s/o again - 2 % for the day is enough of pain.
Fix up, trade sharp ...
  • #9,236
  • Mar 25, 2015 8:37am Mar 25, 2015 8:37am
Trying an EU long, 1/10 normal size incase the chopper gets me sl below the .0970, probably get my butt handed to me in short order. Phhhttttt blown out before I could type this out
  • #9,237
  • Mar 25, 2015 8:38am Mar 25, 2015 8:38am
OK, GJ back out of the triangle. Needs to fade 178.1 or a daily close below there.

GU six days in a row with daily lower highs.

UJ - 118.3/5 for reversal - or not.
  • #9,238
  • Mar 25, 2015 8:53am Mar 25, 2015 8:53am
Quoting Mpt
OK, GJ back out of the triangle. Needs to fade 178.1 or a daily close below there. GU six days in a row with daily lower highs. UJ - 118.3/5 for reversal - or not.
Out and back in
  • #9,239
  • Mar 25, 2015 8:56am Mar 25, 2015 8:56am
Yea this looks like a total waste of capital at the moment to me. I got some other things I should do till it gets sorted out and somewhat sure money can be made.
  • #9,240
  • Mar 25, 2015 8:56am Mar 25, 2015 8:56am
Quoting Mpt
OK, GJ back out of the triangle. Needs to fade 178.1 or a daily close below there. GU six days in a row with daily lower highs. UJ - 118.3/5 for reversal - or not.
This is a hypothetical outlook, and can easily go wrong, but....

Assuming we make a clean break of 177.60, one of the more likely scenarios is that the gbp/jpy will go somewhere close to 177, bounce back up for a bit(177.85~somewhere in the 178s) just as the eur/usd does a final spurt to the 1.1000s region, then fall down along with the eur/usd down to 175.70/50.

We could also just fall down further without much of a bounce at 177, but given the mercurial nature of the eur/usd and the impact it has on other pairs at the moment, one more bounce back up is not only unsurprising, but also somewhat expected.

It also largely assumes we're still bearish for the pound sterling for the week; we've done a light break of 1.4900 on the cable, but we need 2 15min. candlesticks below 1.48860 to confirm further downside for the day.
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