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Dragon Riders GBP/JPY

  • #9,281
  • Mar 25, 2015 12:21pm Mar 25, 2015 12:21pm
Quoting forexalien
{quote} Smart Thoughts............
Yup ... have to become better in identifying them. Had such a feeling today that the market would be flat since London started so powerless. Is there something else indicating these days you guys have found?
Fix up, trade sharp ...
  • #9,282
  • Edited 2:42pm Mar 25, 2015 12:23pm | Edited 2:42pm
Quoting forexalien
{quote} I vote for another move down, It could be half a day or more......................
It's been drifting lower, hanging along a TL, BB Squeeze on the H1, not confirmed yet, Delay Stochastic to return lower.

I am finding a lot of the pairs have H4 tops and bottoms forming, this is when everything is resting or small ranges.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ H1 lower.JPG Size: 279 KB
The More You Learn, The More You Earn.....
  • #9,283
  • Mar 25, 2015 12:24pm Mar 25, 2015 12:24pm
Quoting FX-Ray
{quote} Possible, I just wanna be on the right side
We all want to be on the right side !
The More You Learn, The More You Earn.....
  • #9,284
  • Edited 2:44pm Mar 25, 2015 12:32pm | Edited 2:44pm
Quoting FX-Ray
{quote} You are about to impress me
She must have seen the Dragon today......................
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Click to Enlarge Name: did you see the dragon today.JPG Size: 314 KB
The More You Learn, The More You Earn.....
  • #9,285
  • Mar 25, 2015 12:35pm Mar 25, 2015 12:35pm
Quoting Hickson
{quote} Yup ... have to become better in identifying them. Had such a feeling today that the market would be flat since London started so powerless. Is there something else indicating these days you guys have found?
Yes, watch the GU and UJ, PA, it will tell you to stay out...........
The More You Learn, The More You Earn.....
  • #9,286
  • Mar 25, 2015 12:54pm Mar 25, 2015 12:54pm
Quoting Vermillion
A descending triangle has formed on the hourly and 4 hourly, with the trendline resistance being around 178.10. By this point, if you still have your shorts from above, it's just best to wait for a breakout instead of closing it and moving onto the next trade, since you're already above the key area. Odds are in favor of hitting lower 177s rather than a breakout to the upside on the 4 hourly now, but it is still possible. It's a pretty clear set up, so at least forming a strategy will be easier, even if we don't quite know where it will turn out....

And done. Confirmed breakdown below 177.850, targeting 177.10 for now.
  • #9,287
  • Mar 25, 2015 1:18pm Mar 25, 2015 1:18pm
trying some yen longs finally at 119.42, risking them to 119.30, trying for 120.02...
Look Sharp/Trade Tight
  • #9,288
  • Mar 25, 2015 1:37pm Mar 25, 2015 1:37pm
Quoting PayTheLimit
trying some yen longs finally at 119.42, risking them to 119.30, trying for 120.02...
I want to buy 20 pips cheaper.
Fix up, trade sharp ...
  • #9,289
  • Mar 25, 2015 1:55pm Mar 25, 2015 1:55pm
Quoting forexalien
{quote} She must have seen the Dragon today...................... {image}
I better not show him the other 3 dustbins I got ... they took awhile but when you have EU ranging in mainly a 20 pip range ... piece of cake
  • #9,290
  • Mar 25, 2015 1:58pm Mar 25, 2015 1:58pm
Quoting PayTheLimit
trying some yen longs finally at 119.42, risking them to 119.30, trying for 120.02...
that is a good entry there daddy

how is George Edward doing anyway
  • #9,291
  • Mar 25, 2015 2:13pm Mar 25, 2015 2:13pm
Quoting AllyB
{quote} that is a good entry there daddy how is George Edward doing anyway
He's good, growing every day. Not to fussy either. Although today he did have quite a crying spell. But overall, he's a good boy....
Look Sharp/Trade Tight
  • #9,292
  • Mar 25, 2015 2:16pm Mar 25, 2015 2:16pm
Quoting AllyB
{quote} I better not show him the other 3 dustbins I got ... they took awhile but when you have EU ranging in mainly a 20 pip range ... piece of cake
Looks like you really found something for ranging days ... and it also seems to work on higher volatility. I usually trade pivots intraday, but with a range like this I have to stay away or get chopped ...
Fix up, trade sharp ...
  • #9,293
  • Mar 25, 2015 7:15pm Mar 25, 2015 7:15pm
Still holding onto my shorts from way above at 179.......currently accrueing quite a bit of swap fees given my trade size, though. Target is 177.10/176.90......but we seem to be getting cockblocked at practically every fibonacci support AND halfway point between said fibonacci support.

Good god. I'd love to go to the kiwi (NZD is due for some corrective moves down),but i can't since this shorting for the gbp/jpy is being a Hobson's choice. I can TP now, and lose out on potential profit that is likely going to happen within the next few days (despite already taking over 3 days to complete). On the other hand, it's eating up my margins that I could have used to trade in other areas for scalping, like the nzd/usd and gbp/nzd.

Choices, choices.....
  • #9,294
  • Mar 25, 2015 7:36pm Mar 25, 2015 7:36pm
Quoting Vermillion
Still holding onto my shorts from way above at 179.......currently accrueing quite a bit of swap fees given my trade size, though. Target is 177.10/176.90......but we seem to be getting cockblocked at practically every fibonacci support AND halfway point between said fibonacci support. Good god. I'd love to go to the kiwi (NZD is due for some corrective moves down),but i can't since this shorting for the gbp/jpy is being a Hobson's choice. I can TP now, and lose out on potential profit that is likely going to happen within the next few days (despite...
I don't know what it is but Im not trusting this down move,,, its seems to easy and there is no momentum and keeps getting rejected in the .50 area,,,, I tagged the .88 area and closed .56. I may be wrong, but the 30 pip are in the bank.
  • #9,295
  • Mar 25, 2015 7:40pm Mar 25, 2015 7:40pm
Hello all,

Some levels of interest. Don't think it's any big surprise.
Attached Image (click to enlarge)
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #9,296
  • Mar 25, 2015 7:47pm Mar 25, 2015 7:47pm
Quoting PayTheLimit
trying some yen longs finally at 119.42, risking them to 119.30, trying for 120.02...
not so much...might try again, as long as 119.20 holds...we'll see..
Look Sharp/Trade Tight
  • #9,297
  • Mar 25, 2015 7:53pm Mar 25, 2015 7:53pm
Quoting PayTheLimit
{quote} not so much...might try again, as long as 119.20 holds...we'll see..
Sure that one, and one below.
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Click to Enlarge Name: USDJPYH4325.jpg Size: 303 KB
The world you desire can be won. It exists.. it is real.. it is possible..
  • #9,298
  • Mar 25, 2015 8:07pm Mar 25, 2015 8:07pm
Quoting js5020
{quote} I don't know what it is but Im not trusting this down move,,, its seems to easy and there is no momentum and keeps getting rejected in the .50 area,,,, I tagged the .88 area and closed .56. I may be wrong, but the 30 pip are in the bank.
That's not a bad idea; your short is a bit risky, so closing out with a couple dozen pips in profit is a solid move. Any profit is better than no profit. I'm only holding onto my shorts because even if we do see a breakout above the descending triangle, I have still guaranteed a profit no matter what. A significantly smaller profit than what I anticipated, perhaps, but it's profit nonetheless.

At the very least, we're both green for our geppy trades, so let's have a drink to that, no?
  • #9,299
  • Mar 25, 2015 8:21pm Mar 25, 2015 8:21pm
Im more short term, usually not holding beyond the end of a session. Ill jump back in when/if necessary. Yes lets have drinks,,, drinks and profits! Thanks Mr. Scott for the projection, unfortunately for me I cant see that far out.
  • #9,300
  • Mar 25, 2015 8:23pm Mar 25, 2015 8:23pm
Quoting Mr. Scott
{quote} Sure that one, and one below. {image}
Nicely done. Now I know I'm doing something right with my buy limit order at 119.050 (just off by 1.5 pips)

After that, I see around 118.70 as the next main support on the daily ichimoku cloud.
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