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Dragon Riders GBP/JPY

  • #9,981
  • Apr 8, 2015 4:29am Apr 8, 2015 4:29am
Quoting Vermillion
{quote} This is a late reply, but well done. I think we're testing a bit more to the upside from 1.49000. I'm aiming for 1.4970/60 right now-what about you?
Yy, I was talking it at E/U thread. Numbers are written below, but can be seen in that MS paint . Mostly focusing 4972-498 top and ,491 monthly mid.

Quoting Tom_D_Trader
{quote} Yes, very important in my charts as well. I have GU forming range @ 1,491 monthly (below another M-range,4815 low of grey range) with top @ your number and bottom 1,474. But as I think it is start of a bull move, 1 retest of 474 could be enough and we may go chop to range top and break - , 491...,486...,498 ... ,491... break. Like this. Brutal MS paint analysis again. edit: also tracking 178,4 on GJ. {image}
Edit: Lol what a move. I gotta go out of PC before I take all partials . Already covered 2/5 on GU @ ,491 and also about 2/5 on EU 1,086.

Cya and good luck mate, T
"I know one thing, that I know nothing." Sokrates
  • #9,982
  • Apr 8, 2015 4:34am Apr 8, 2015 4:34am
Quoting Tom_D_Trader
{quote} Yy, I was talking it at E/U thread. Numbers are written below, but can be seen in that MS paint . Mostly focusing 4972-498 top and ,491 monthly mid. {quote} Edit: Lol what a move. I gotta go out of PC before I take all partials . Already covered 2/5 on GU @ ,491 and also about 2/5 on EU 1,086.
Oh. It's good to know that someone has similar targets like mine. At the very least, if our trades go south, I'll have someone to keep me company. But I get the feeling we'll be able to sneak a few pips out. Currently moving my SL forward.
  • #9,983
  • Apr 8, 2015 4:42am Apr 8, 2015 4:42am
Quoting Vermillion
{quote} Oh. It's good to know that someone has similar targets like mine. At the very least, if our trades go south, I'll have someone to keep me company. But I get the feeling we'll be able to sneak a few pips out. Currently moving my SL forward.
I'm with you guys, but on GBPCAD. The correlation is strong today so sink or swim for all of us
  • #9,984
  • Apr 8, 2015 4:45am Apr 8, 2015 4:45am
I set a long order at 178.5 when price was at .650 expectng a little pull back...price missed it by a gnats cock.

Moderate reject of next DP, may chance a little short
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 21 KB


Next level at 180.
  • #9,985
  • Apr 8, 2015 4:46am Apr 8, 2015 4:46am
Quoting Tryfoss
{quote} Actually it is not happend in 1H but in 1Min: 2015.04.07 15:37 High: 178.924 Low: 163.706 drop: 1521 Pips 1min Chart is attached:{image}
Thanks tryfoss, its just ridiculous.
  • #9,986
  • Apr 8, 2015 4:47am Apr 8, 2015 4:47am
DP 179.00/8.90 printed, if resistance next DP 178.60/50, if support next is 1/2 180.10/00 (TP).
  • #9,987
  • Apr 8, 2015 4:48am Apr 8, 2015 4:48am
Quoting alexpi
{quote} I'm with you guys, but on GBPCAD. The correlation is strong today so sink or swim for all of us
Huzzah! Grab your choice of champagne, gents; for in victory we deserve it; in defeat, we need it.

Inserted Video


I hope you enjoy this lovely piece of music. I found it rather appropriate given our circumstances.

'Cause the ship's going down
All on account of the weather
Though we'll drown
There's no need to frown
'Cause we're all going together
And I won't say "Woe is me"
As I disappear into the sea
'Cause I'm in good company
As we're all going together

As a trader, I've found that being cynical, sardonic, and pessimistic tends to increase my odds of succeeding in my trades.
  • #9,988
  • Apr 8, 2015 4:50am Apr 8, 2015 4:50am
Quoting anima999
I set a long order at 178.5 when price was at .650 expectng a little pull back...price missed it by a gnats cock. Moderate reject of next DP, may chance a little short {image}
Shorted it yesterday and took profit @ 178.25/15. Got out right in time, 179.00/8.90 is important. The trend will be determined here as far as I can see.
  • #9,989
  • Apr 8, 2015 4:53am Apr 8, 2015 4:53am
By the way, told you that the chart in the quoted post is legit!

Quoting alexpi
Gais, I call this formation "Dragon's Roar" It's legit, trust me {image}
  • #9,990
  • Apr 8, 2015 4:57am Apr 8, 2015 4:57am
I'm still short, hoping 179 holds
  • #9,991
  • Apr 8, 2015 4:57am Apr 8, 2015 4:57am
Quoting FX-Ray
{quote} Shorted it yesterday and took profit @ 178.25/15. Got out right in time, 179.00/8.90 is important. The trend will be determined here as far as I can see.
Nice.
The more I look the more I'm convinced for a long aiming for the TP level. GBP seems to be doing well across the board, if price reaches the TP that would be 250pips...not impossible for this pair.

As you say, this level is important and price is having a second go in 2 days.
  • #9,992
  • Apr 8, 2015 4:59am Apr 8, 2015 4:59am
Quoting anima999
{quote} Nice. The more I look the more I'm convinced for a long aiming for the TP level. GBP seems to be doing well across the board, if price reaches the TP that would be 250pips...not impossible for this pair. As you say, this level is important and price is having a second go in 2 days.
Dont decide for one direction, whereever it goes doesnt matter, just go with it, you got the significant prices.
  • #9,993
  • Apr 8, 2015 5:03am Apr 8, 2015 5:03am
Quoting FX-Ray
{quote} Dont decide for one direction, whereever it goes doesnt matter, just go with it, you got the significant prices.
You're right, as usual. Taing a break.
I've got to pop out to the plumbing shop as I have a leaking sink so place your trades now as something big always happens when I am away from my PC.
Back in 30mins.
  • #9,994
  • Apr 8, 2015 5:08am Apr 8, 2015 5:08am
Quoting anima999
{quote} Nice. The more I look the more I'm convinced for a long aiming for the TP level. GBP seems to be doing well across the board, if price reaches the TP that would be 250pips...not impossible for this pair. As you say, this level is important and price is having a second go in 2 days.
We got three daily closing prices there, got rejected hard yesterday + its a DP.
  • #9,995
  • Apr 8, 2015 5:52am Apr 8, 2015 5:52am
Quoting Vermillion
Added another risky long at around 1.48924 (this assumes we'll breach 1.49000). Hard SL at 1.48700, manual soft SL. Maximum optimal target is 1.4970/60. There's a good chance of me leaving the market early with only a couple dozen pips or so depending on price action.
Moved hard SL to 1.49120, locked in 20 pips in profit.

I'm having a hard time expecting the gbp/usd to move past 1.49700~1.5000. There's a good chance to get a small bounce of a couple dozen pips around here, and further upside for the gbpjpy will probably be hard as well.

I'll possibly consider a short for the pound sterling pairs at some point. Longing further doesn't seem likely for now, though.
  • #9,996
  • Apr 8, 2015 6:22am Apr 8, 2015 6:22am
Quoting Vermillion
{quote} Moved hard SL to 1.49120, locked in 20 pips in profit. I'm having a hard time expecting the gbp/usd to move past 1.49700~1.5000. There's a good chance to get a small bounce of a couple dozen pips around here, and further upside for the gbpjpy will probably be hard as well. I'll possibly consider a short for the pound sterling pairs at some point. Longing further doesn't seem likely for now, though.
Nice trading on cable. NY open soon may give GBP a shove. There is a fair few closes on the daily in the current area so my be tough.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 24 KB

I've set some alerts for GJ above the current DP, until then I'm going to grab some lunch and fix my bloody sink.
  • #9,997
  • Edited 6:53am Apr 8, 2015 6:35am | Edited 6:53am
Quoting anima999
{quote} Nice trading on cable. NY open soon may give GBP a shove. There is a fair few closes on the daily in the current area so my be tough. {image} I've set some alerts for GJ above the current DP, until then I'm going to grab some lunch and fix my bloody sink.
Yes, cable much better for me recently. I got stopped out a thousand times BE at Geppy this week! At least cable not doing such a chop atm:

Edit: Profit Taken after bounce
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 7 KB
Fix up, trade sharp ...
  • #9,998
  • Edited 7:26am Apr 8, 2015 7:09am | Edited 7:26am
If you're longing the pound sterling, I find gbp/usd to be best. Gbp/jpy gets dragged down by usd/jpy a lot (which often moves in the opposite direction of the cable), so we get more whiplash volatility.

On the other side, the sterling is really one of the few (if not the only) competitor against the USD s of now in 2015 (weaker, but far better than the euro, yen, etc.) And there's election volatility coming up, so the next few week will probably offer more profitable opportunities whether they're long or short.

Note: My longs for cable at 1.48924 are still intact. Price came within around 6 pips of hitting hard SL, though.

Also, max TP zone for gbp/usd moved to 1.5000. Potential manual closing still applies, however.

Update 2: hard SL now moved to 1.49210. 29 pips locked in as profit.
  • #9,999
  • Apr 8, 2015 7:10am Apr 8, 2015 7:10am
GJ just tried a push up. If it makes a new high over yesterday I'll probably jump in long...
  • #10,000
  • Apr 8, 2015 7:12am Apr 8, 2015 7:12am
Quoting anima999
GJ just tried a push up. If it makes a new high over yesterday I'll probably jump in long...
If cable hits 1.5000/1.49900, we might get the geppy topped out for now until FOMC kicks in. Not saying you cant get a chance to scalp long, but be careful.
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