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Dragon Riders GBP/JPY

  • #9,361
  • Mar 26, 2015 9:10am Mar 26, 2015 9:10am
Quoting FX-Ray
Few scenarios for G/J: (1) Current rejection if 1/2 177.35/25 leads to test of 1/4 176.575/475 (2) 1/4 176.575/475 able to stay support, next 1/2 177.35/25 (3) Break of 1/4 176.575/475, next is DP 175.80/70 then.
Perfect!👍👌
Errāre hūmānum est; in errōre persevērāre belluīnum
  • #9,362
  • Mar 26, 2015 9:10am Mar 26, 2015 9:10am
Quoting Hickson
LOL, I closed my position earlier at BE since it was chopping around again and I did not want to repeat yesterday ... anyway ... funny structure on H1: {image}
The chart looks like a giraffe.

Attached Image (click to enlarge)
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  • #9,363
  • Mar 26, 2015 9:10am Mar 26, 2015 9:10am
Quoting FX-Ray
{quote} You quickly changed your mind
What can I say? I'm a scalper/swing trader. I have to be quick on my toes....er, fingers.
  • #9,364
  • Mar 26, 2015 9:11am Mar 26, 2015 9:11am
Quoting Vermillion
{quote} The chart It looks like a giraffe. {image}
So ... this is the bearish giraffe pattern? :nerd:
Fix up, trade sharp ...
  • #9,365
  • Mar 26, 2015 9:12am Mar 26, 2015 9:12am
Quoting Hickson
{quote} So ... this is the bearish giraffe pattern? :nerd:
Yes. meet the cousin of the mighty ManBearPig.

Attached Image (click to enlarge)
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  • #9,366
  • Edited 9:31am Mar 26, 2015 9:18am | Edited 9:31am
Anyway, I thought about some comments here and I felt some need confirmation for their trades which I can understand. What I am doing now is I just post a picture now. And before you ask any question I want you to study through this: https://en.wikipedia.org/wiki/Complex_number

If you dont feel to know, short story: draw 50% of price to DP;1/2;1/4 for reference.

Add: Thats what I mean when I say market is a complex system. Read here: Post #7818
Attached Image (click to enlarge)
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  • #9,367
  • Mar 26, 2015 9:24am Mar 26, 2015 9:24am
Quoting FX-Ray
Anyway, I thought about some comments here and I felt some need confirmation for their trades which I can understand. What I am doing now is I just post a picture now. And before you ask any question I want you to study through this: https://en.wikipedia.org/wiki/Complex_number If you dont feel to know, short story: draw 50% of price to DP;1/2;1/4 for reference. {image}
Oh! another glimpse into the logic of your algorithm, greatly appreciated
  • #9,368
  • Mar 26, 2015 9:34am Mar 26, 2015 9:34am
Quoting alexpi
{quote} Oh! another glimpse into the logic of your algorithm, greatly appreciated
Yeah I hope it helps. It would be overwhelming to come up with all at the same time. Its just extremely complicated.
  • #9,369
  • Mar 26, 2015 9:45am Mar 26, 2015 9:45am
Anyway I took a long at 1/4 176.575/475 for a test of 1/2 177.35/25
  • #9,370
  • Mar 26, 2015 10:06am Mar 26, 2015 10:06am
finally got rid of that crap. "somehow" an add-ware program called geniusbox got installed and finally got rid of it

I hate that

edit so where are we at?

those dustbins seem to be working
  • #9,371
  • Mar 26, 2015 10:41am Mar 26, 2015 10:41am
Quoting FX-Ray
Anyway I took a long at 1/4 176.575/475 for a test of 1/2 177.35/25
looks good so far
  • #9,372
  • Edited 11:03am Mar 26, 2015 10:47am | Edited 11:03am
Quoting FX-Ray
{quote} looks good so far
Needs to hold above the halfway between DPs (176.850).

Edit: Added a scalping long at 176.730.

Update: Lost the scalp with -8 pips. LOL.
  • #9,373
  • Mar 26, 2015 10:50am Mar 26, 2015 10:50am
Quoting Vermillion
{quote} Needs to hold above the halfway between DPs (176.850).
yeah, dont expect any miracles. Took partial already. Time will tell.

Add: Anyway, nice avatar you have
  • #9,374
  • Mar 26, 2015 11:02am Mar 26, 2015 11:02am
Quoting Vermillion
{quote} Needs to hold above the halfway between DPs (176.850). Edit: Added a scalping long at 176.730.
its gonna test 1/4 176.575/475 again.
  • #9,375
  • Mar 26, 2015 11:03am Mar 26, 2015 11:03am
Quoting FX-Ray
{quote} yeah, dont expect any miracles. Took partial already. Time will tell. Add: Anyway, nice avatar you have
Thanks

I wonder what will happen now, though...will it puncture through the support? Or will it bounce back up?
  • #9,376
  • Edited 11:27am Mar 26, 2015 11:04am | Edited 11:27am
Quoting Vermillion
{quote} Thanks I wonder what will happen now, though...will it puncture through the support? Or will it bounce back up?
There is no way to know. Just apply you trading plan there and wait what is gonna happen.

Add:
1st scenario: it holds and test of 1/2 177.35/25
2nd scenario: it breaks and test of DP 175.80/70

Thats all there is.

Add(1): If you would like to have some confirmation, you'd like to see something like this for the upside, otherwise its just going down further.
Add(2): Keep both sides in mind, anytime, there is no right or wrong.
Attached Image(s) (click to enlarge)
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  • #9,377
  • Mar 26, 2015 11:49am Mar 26, 2015 11:49am
A bit of a risk, but... going long from 176.654. Profit is somewhere between 177~177.30.

Attached Image (click to enlarge)
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Stop loss is manual.
  • #9,378
  • Mar 26, 2015 11:54am Mar 26, 2015 11:54am
Quoting Vermillion
A bit of a risk, but... going long from 176.654. Profit is somewhere between 177~177.30. {image} Stop loss is manual.
took the long at 176.574, been sitting aside for a while last few days taking a shot now.

Closed out my GN and GA longs at 1.96 and 1.90 earlier today. Think we are going to get another retest of TLs on both pairs before possible reversal. AU looks like wants .80 area and NU .78

have pending shorts 1.11 for EU for long term hold towards parity see if gets triggered sometime this or next week.
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  • #9,379
  • Mar 26, 2015 12:00pm Mar 26, 2015 12:00pm
Quoting thegmann
{quote} took the long at 176.574, been sitting aside for a while last few days taking a shot now. Closed out my GN and GA longs at 1.96 and 1.90 earlier today. Think we are going to get another retest of TLs on both pairs before possible reversal. AU looks like wants .80 area and NU .78 {image}
Hmmm. For the geppy, if we make a clear break past 176.850, I doubt we'll get our TL triggered-I'm assuming we're both either using trailing stops or manually adjusting our TLs.

More worried about the eur/usd. I'm tempted to short it for a prolonged period (~month) to get it down to 1.040 range or so, but we may still hit 1.11000 yet, possibly above depending on PA.

The problem with my broker is that for the pairs it charges negative swap, they tend to add up over time, and I can't really guarantee that the eur/usd will fall in the optimal profitable time period.
  • #9,380
  • Mar 26, 2015 12:01pm Mar 26, 2015 12:01pm
Quoting FX-Ray
{quote} There is no way to know. Just apply you trading plan there and wait what is gonna happen. Add: 1st scenario: it holds and test of 1/2 177.35/25 2nd scenario: it breaks and test of DP 175.80/70 Thats all there is. Add(1): If you would like to have some confirmation, you'd like to see something like this for the upside, otherwise its just going down further. Add(2): Keep both sides in mind, anytime, there is no right or wrong. {image} {image}
Hi Ray just want to touch base and say thank you for this information I find it very helpful and I am sure many others find it helpful to all the best to you
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