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Dragon Riders GBP/JPY

  • #9,841
  • Apr 2, 2015 7:38am Apr 2, 2015 7:38am
Quoting FX-Ray
{quote} shorted this; m5 left, daily right, good R:R, lets see how far this goes. Optimal would be 1.0760 {image}
watching 1.0798, crucial for continuation
  • #9,842
  • Apr 2, 2015 7:40am Apr 2, 2015 7:40am
Quoting Vermillion
{quote} Very true. Goal in trading isn't to maximize profits, but to minimize losses. Only problem is, fixing your errors is hard for trading if it's your current trading strategy that's off; My current weekly record stands at Oh well. trial and error, I guess. Now my question is which pair will give the most bang for the buck: geppy, or cable? Update: YES! Cable drops lower again! Let's see if I can load a long at a decent price..... Update 2: Buy limit rejected by 6 pips.......d'awww....
Anyway, talking about assumptions, I think you gonna like it

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  • #9,843
  • Apr 2, 2015 7:42am Apr 2, 2015 7:42am
Have a pleasant day everyone, I'm leaving my trades to the winds of geppy and heading out.
  • #9,844
  • Apr 2, 2015 8:08am Apr 2, 2015 8:08am
Quoting alexpi
Have a pleasant day everyone, I'm leaving my trades to the winds of geppy and heading out.
Thanks mate you too, laters.
  • #9,845
  • Apr 2, 2015 8:15am Apr 2, 2015 8:15am
Quoting anima999
Price didn't like that 1/4 level, bounce straight back off just shy of my .500 TP. My position stopped for nice profit. Waiting to see what happens when it reaches the 1/2 176.8 level again. EDIT, I won't be putting an order in, based on what Ray noted about every up-move being sold fairly quickly (including this one) I'm going to wait before jumping in. EDIT 2 US news in a couple of mins
Looking at price now my mistake was position managment. I moved my stops to lock in profits too early and whilst still profitable it could have been better.
Never mind, going for a run, hopefully we'll be nearer a DP or atleast a 1/2 level by then.
  • #9,846
  • Apr 2, 2015 8:22am Apr 2, 2015 8:22am
interesting thread! u have a very good strategy about decision point. FX-Ray i think u should trade on other gbp pairs too. all gbp pairs on par with gbpjpy. don't only focus one gbpjpy. look at gbpaud these days have a very good trend since aud weak.
  • #9,847
  • Apr 2, 2015 9:04am Apr 2, 2015 9:04am
Quoting FX-Ray
{quote} shorted this; m5 left, daily right, good R:R, lets see how far this goes. Optimal would be 1.0760 {image}


I enter short at 1.0900 50% fib of last leg movement D1
TP:1.0700
  • #9,848
  • Apr 2, 2015 9:34am Apr 2, 2015 9:34am
Quoting alexpi
Gais, I call this formation "Dragon's Roar" It's legit, trust me {image}
Roger that pic.....I'm holding long.....sitting on 65 pips, I'll give them all back except three!!
  • #9,849
  • Apr 2, 2015 9:42am Apr 2, 2015 9:42am
Quoting FX-Ray
{quote} I see, the art is to avoid that "fuck-ups"
Yep, we TP every little bit these days....for the last four months specially...I think because of the sovergn wealth funds taking over.....lucky we can still trade...what I'm watching
  • #9,850
  • Apr 2, 2015 10:29am Apr 2, 2015 10:29am
AJ 90.5 was hit hours ago. 89.0 still in sights
  • #9,851
  • Apr 2, 2015 10:44am Apr 2, 2015 10:44am
Nice day for me after stubbornly trying to trade by mobile phone yesterday while undergoing surgery. Out of work but made it up today. Thanks To all.

Green Pips,
Mark

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If you are new to FX don"t follow my trades, I 've blown many live accounts
  • #9,852
  • Apr 2, 2015 11:03am Apr 2, 2015 11:03am
dragon looking like its ready to fly soon. maybe by tonight ill jump on for a ride
  • #9,853
  • Apr 2, 2015 11:15am Apr 2, 2015 11:15am
Quoting raiders
dragon looking like its ready to fly soon. maybe by tonight ill jump on for a ride
Just be wary of potential corrective drops from 178.40~178.90. Upside should be limited to around 179.30/20 at the most for New York session (yesterday's high was around 178.420), but it's more likely we'll face a significant amount of stiffy at 178.80 +/- 20 pips even if it goes past 178.40. That's the main resistance I see on the 4 hourly chart.

It'd be great if we can just fly all the way to 181 (100% retracement from the FOMC spike), but that's doubtful. With the U.S. bringing key unemployment data tomorrow & the Bank of England going pretty much AFK on a holiday, the best outcome (that's actually somewhat probable) is a significant movement in one direction that'll still be contained within FOMC highs.
  • #9,854
  • Apr 2, 2015 11:19am Apr 2, 2015 11:19am
Quoting FX-Ray
U/J: {image}
GBP, the best money ever. The only one that can stand up against USD even in these times.
Be humble or be humbled.
  • #9,855
  • Apr 2, 2015 11:31am Apr 2, 2015 11:31am
Quoting Vermillion
{quote} Just be wary of potential corrective drops from 178.40~178.90. Upside should be limited to around 179.30/20 at the most for New York session (yesterday's high was around 178.420), but it's more likely we'll face a significant amount of stiffy at 178.80 +/- 20 pips even if it goes past 178.40. That's the main resistance I see on the 4 hourly chart. It'd be great if we can just fly all the way to 181 (100% retracement from the FOMC spike), but that's doubtful. With the U.S. bringing key unemployment data tomorrow & the Bank of England going...
im waiting a long time. prob at least 12 hours befor going in. need to get out of this consolidation. might have to wait tilll next week even who knows. i want to take the long ride to 190 which i think is poss based on the 4h and daily butterflies ive got in my sights. the 4h has been there since the 25th.
  • #9,856
  • Apr 2, 2015 11:36am Apr 2, 2015 11:36am
dont know how to post pictures lol

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fixed it
  • #9,857
  • Edited 12:03pm Apr 2, 2015 11:47am | Edited 12:03pm
Completed rising wedge 2nd retest underside. Although can still break in

A fade from here should restart the down trend.
  • #9,858
  • Apr 2, 2015 12:01pm Apr 2, 2015 12:01pm
Still think it will be really really weird to not test the 176.3-175.5 support zone before a sizeable up move or break and continued down move.
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  • #9,859
  • Apr 2, 2015 12:05pm Apr 2, 2015 12:05pm
Quoting thegmann
Still think it will be really really weird to not test the 176.3-175.5 support zone before a sizeable up move or break and continued down move. {image}
agree with you I have got setted up my buy limits on 176.746
176.288
  • #9,860
  • Edited 3:03pm Apr 2, 2015 2:33pm | Edited 3:03pm
Very risky scalping short at 177.438. Manual SL. I don't recommend people following me. TP at 176.80/70, but may be closed early depending on price action.

If price looks like it's going back up, I'm out.

Update: Out with 10 pips in loss.

Update 2: Tried again at same price.

Current status of scalping short:

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Maybe, maybe not. Still touch and go at this point.
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