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Attachments: Dragon Riders GBP/JPY
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Dragon Riders GBP/JPY

Quoting TuTang
Hi, im new to forex and this is the first time i trade geppy, can anyone give me some advice on where to start with this pair please ? Though i did read earlier and blindly put a long at 177.1 and still got some pips there (also moved my sl to B/E though )
You got a good spot, 1/4 178.125/025 should be next. But putting blindly on a trade, just why?
Quoting FX-Ray
{quote} You got a good spot, 1/4 178.125/025 should be next. But putting blindly on a trade, just why?
i did see a huge daily support though and combined with carney talking lol so i decided to come in and long at whatever price :-s(too lucky). im new to geppy, im quite unfamiliar with its movement tho :-s it would be a big help if you could give me a starting guidance. Please
Good morning Ray, good morning all,

Hope trading has been going good for you all, not been able to concentrate fully, but come next week!
Quoting workingforex
Good morning Ray, good morning all, Hope trading has been going good for you all, not been able to concentrate fully, but come next week!
you've been missed, hope everything's well with you and your family
Quoting FX-Ray
{quote} Interesing statement, do you mind to explain what condition would earn your trust, am curious. cheers.
I generally don't trust/trade any movement that's caused out of the blue by banker statements. It doesn't make sense technically to have such a strong move up from 176.73, so to me it's a signal that there's a lot of emotional buying happening based on something a politician said. It makes sense to me to avoid these trades, 0 is better than a profit when emotions are high Edit: and definitely better than a loss
Quoting alexpi
{quote} I generally don't trust/trade any movement that's caused out of the blue by banker statements. It doesn't make sense technically to have such a strong move up from 176.73, so to me it's a signal that there's a lot of emotional buying happening based on something a politician said. It makes sense to me to avoid these trades, 0 is better than a profit when emotions are high
I rather pay attention to 1/4 176.575/475, news(catalyst) couldnt take it out, strength?
Quoting FX-Ray
{quote} But you have personal evidence/experience to that statement? I just wanna say base your judgement on your experience only, not what you've read. What I can tell you from my experience is, I'd never short the 76.4% level simply because it already too late then. DP 175.80/70; 1/4 176.575/475 needs to break. 1/4 178.125/025; 1/2 177.35/25 needs to hold. 1/4 176.575/475; 1/2 177.35/25 needs to break. Anyway you said 200 EMA on the hourly, this means you warch 8 1/3 days of average price. Try to adapt the MA's to the TF, not vice versa, for example:...
You're right. I welcome constructive criticism too so no worries.

Although, I'm also trying to find that article on the web which also stated this level among GBP pairs.

I use the 55 and 200 EMAs on TF over 1hr since they give me 70% accuracy on my experience. I got this level long time ago from a trading class I took. I'll check those levels you gave me and analyze it this weekend. If you look at all pairs, they tend to navigate around these two levels depending on which wave they are on. It happens quite frequently. Unfortunately, though, I'm not a good wave counter like Schick or Infinitus at this point.
Lost....
Quoting FX-Ray
{quote} I rather pay attention to 1/4 176.575/475, news(catalyst) couldnt take it out, strength?
You have a point, but still, a perfect match time-wise between what Carney said and what's happening means that I'm done for the week. I'll be watching 178 along with you and if it just keeps breaking higher I'll be chilling on the roadside today

Edit: I really like a quote my boss often says: Sometimes the best deals are the ones you didn't take. Applies perfectly to this situation
Quoting FX-Ray
{quote} you've been missed, hope everything's well with you and your family
That is so nice of you to say that! All has been well, just come family affairs!

Yes I missed all the beautiful moves up/down/up! Again not on my workstation today as well, just posting on the run! Keep up the good work!
Quoting raiders
boe saying next move likely to be rate hike
This is big news, no? ie what's with this relatively muted reaction we're seeing?
Quoting Mr. Scott
Hello all, Some levels of interest. Don't think it's any big surprise. {image}
zoomed in
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The world you desire can be won. It exists.. it is real.. it is possible..
Quoting TuTang
{quote} i did see a huge daily support though and combined with carney talking lol so i decided to come in and long at whatever price :-s(too lucky). im new to geppy, im quite unfamiliar with its movement tho :-s it would be a big help if you could give me a starting guidance. Please
There's a reason it's called the dragon. It moves a great deal, (when it IS moving).

Personally, if I were you, I'd not enter right now, but wait for a strong stimulus to provoke it.
Quoting Didgeridoo
{quote} This is big news, no? ie what's with this relatively muted reaction we're seeing?
http://www.ibtimes.co.uk/bank-englan...g-2015-1437258

http://www.theguardian.com/business/...gland-mortgage

http://www.telegraph.co.uk/finance/e...se-closer.html

http://www.cnbc.com/id/102032709

Old news Didgeridoo
Quoting Didgeridoo
{quote} This is big news, no? ie what's with this relatively muted reaction we're seeing?
I can think of a few reasons on top of my head.

a) The UK general elections is coming up in just over a month, and people are furiously speculating about that. Thiscan make things volatile as we approach May.

b) The words of members of central banks in 2015 have been called into question, since many such as the SNB (Swiss National Bank) have instituted unconventional/abnormal policies that did not happen much before, or even outright lied (ex: SNB says they'll keep the eur/chf price floor just days before removing it, causing the biggest price shock in forex history in the past 40 years)

c) It's Carney and the BOE. The BOE has been accused of overtly positive for the pound sterling despite a lack of clear data to support it. Also Carney doesn't have a sterling reputation (pun intended). I don't really trust him too much especially about something like this.

He could be telling the truth, but better safe than sorry.
Quoting alexpi
{quote} You have a point, but still, a perfect match time-wise between what Carney said and what's happening means that I'm done for the week. I'll be watching 178 along with you and if it just keeps breaking higher I'll be chilling on the roadside today Edit: I really like a quote my boss often says: Sometimes the best deals are the ones you didn't take. Applies perfectly to this situation
I learned the best trades are the hardest ones, like the long at 1/4 176.575/475; If I'd paid attention to the whole PA; I'd be out already.
Quoting FX-Ray
{quote} I learned the best trades are the hardest ones, like the long at 1/4 176.575/475; If I'd paid attention to the whole PA; I'd be out already.
You have to risk it to get the biscuit.

Currently watching 177.30 area. Let's see if it holds or breaks. Good area to long or short depending on price reaction.
Quoting FX-Ray
{quote} I learned the best trades are the hardest ones, like the long at 1/4 176.575/475; If I'd paid attention to the whole PA; I'd be out already.
All about the trading plan in the end. When I saw that Haldane, Carney and Broadbent are speaking in rapid succession today I just knew that I won't be doing much
GJ

I don't see any momentum behind this short burst long.

H4 range would be 177 -179 area

week , daily , H4 are all short yet, H1 making an attempt long, but will not travel far, unless news comes out.................

Alien's take.............
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The More You Learn, The More You Earn.....
Quoting alexpi
{quote} All about the trading plan in the end. When I saw that Haldane, Carney and Broadbent are speaking in rapid succession today I just knew that I won't be doing much
Well, nothing wrong here then
Quoting forexalien
GJ I don't see any momentum behind this short burst long. H4 range would be 177 -179 area week , daily , H4 are all short yet, H1 making an attempt long, but will not travel far, unless news comes out................. Alien's take.............
Lets take a trip for a drink at the new bar on mars? Whats its name again...
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