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Dragon Riders GBP/JPY

  • #10,041
  • Apr 8, 2015 6:37pm Apr 8, 2015 6:37pm
Quoting AllyB
fib level sell we shall see {image}
You guys and gals are killing it over here.....................making pips............
The More You Learn, The More You Earn.....
  • #10,042
  • Edited 8:38pm Apr 8, 2015 8:23pm | Edited 8:38pm
Quoting Vermillion
{quote} I'm chancing a small long scalp as well, but on the gbp/usd instad. Long gbp/usd on 1.48682, Initial TP at 1.4900. Hard SL at 1.48500, manual soft SL as usual. I think we'll see a small bounce up before coming back down (even if the next intraday trend is bearish)
Bounce seems to be restricted to around 1.4880 with the new price action analysis (1.4890/80). I'll probably break even/get a few pips in profit to get rid of the negative swap for my short, and possibly load another to test the new pivot point around 1.4890. Or I could just be lazy and leave it there and just wait the price to get printed.

If price seems to refuse to even hit that area, I'll probably leave with what I have.
  • #10,043
  • Apr 8, 2015 8:26pm Apr 8, 2015 8:26pm
Quoting FX-Ray
{qupeople Dont decide for one direction, whereever it goes doesnt matter, just go with it, you got the significant prices.
Hello, if you have time could you just post an example of 1 entry you take around these dp's... And the way you think about the entry...do you come down to a 5 min chart, look for a break below a certain level of the dp...etc.Would be really helpful for people reading this thread....apologies if its already been explained somewhere.Thanks.
  • #10,044
  • Apr 8, 2015 9:47pm Apr 8, 2015 9:47pm
Target for today 179.94 for me
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 738 KB
the market can remain irrational longer than you can remain solvent
  • #10,045
  • Apr 8, 2015 10:00pm Apr 8, 2015 10:00pm
perhaps there is some R at 179.02/15...
Look Sharp/Trade Tight
  • #10,046
  • Apr 8, 2015 11:44pm Apr 8, 2015 11:44pm
Quoting alexpi
Will be a confirmed stop run if price goes back above 1.48834 and stays there Edit: Cleared it and now testing a break down Edit2: Yep, elephants took out some longs, it's looking bullish, though still on the fence {image}
GU Still ranging between these two points, I'm surprised at the move on GBPCAD and GJ, given how calm GU was.
  • #10,047
  • Apr 8, 2015 11:51pm Apr 8, 2015 11:51pm
Quoting alexpi
{quote} GU Still ranging between these two points, I'm surprised at the move on GBPCAD and GJ, given how calm GU was.
GU is forming a wedge for further down on the Daily.......................
The More You Learn, The More You Earn.....
  • #10,048
  • Apr 9, 2015 12:00am Apr 9, 2015 12:00am
Quoting forexalien
{quote} GU is forming a wedge for further down on the Daily.......................
We'll see, there is room for 1 more leg up to 1.50 before it decides if it's gonna be dropping or rising next week. When it breaks out of the range we'll know how it will finish the week,leg up or no leg up

I'll consider trying to grab the move when it moves, but given how profitable the last two days were I might just lay low...
  • #10,049
  • Apr 9, 2015 12:12am Apr 9, 2015 12:12am
and maybe 177.90/178.02 will act as support...
Look Sharp/Trade Tight
  • #10,050
  • Apr 9, 2015 12:20am Apr 9, 2015 12:20am
Has anyone researched anything about the bank rate decision?

How likely do you reckon it is that they will smack the market with a .25 increase, given the fact that elections are coming up and every major bank is expecting that they keep the rate as is?
  • #10,051
  • Apr 9, 2015 12:28am Apr 9, 2015 12:28am
Quoting Vermillion
{quote} Bounce seems to be restricted to around 1.4880 with the new price action analysis (1.4890/80). I'll probably break even/get a few pips in profit to get rid of the negative swap for my short, and possibly load another to test the new pivot point around 1.4890. Or I could just be lazy and leave it there and just wait the price to get printed. If price seems to refuse to even hit that area, I'll probably leave with what I have.
As expected, 1.4890/80 turned out to be the resistance. Ended getting only about 8 pips before getting stopped out. Looking for possible shorts right now if we get a break.

It's an interesting area here; further downside seems a bit more likely than retesting resistance.
  • #10,052
  • Apr 9, 2015 12:39am Apr 9, 2015 12:39am
Quoting Vermillion
{quote} As expected, 1.4890/80 turned out to be the resistance. Ended getting only about 8 pips before getting stopped out. Looking for possible shorts right now if we get a break. It's an interesting area here; further downside seems a bit more likely than retesting resistance.
All that matters is the PMA

Good morning by the way

Inserted Video
  • #10,053
  • Apr 9, 2015 12:47am Apr 9, 2015 12:47am
Quoting alexpi
{quote} All that matters is the PMA Good morning by the way https://www.youtube.com/watch?v=Nv3T61DLY_0
Well, it's closer to night still here. Only 1:44 AM

Update: Shorted at 1.48641. Not the most optimal short, but I'd prefer to get a clear signal to short rather than to risk a potential loss just so I can get the "best" price.

Hard SL at 1.4900, manual soft SL. Targets: 1.48400, 1.4800, 1.47500.
  • #10,054
  • Apr 9, 2015 12:49am Apr 9, 2015 12:49am
Quoting Vermillion
{quote} Well, it's closer to night still here. Only 1:44 AM
Fair enough, sorry about that Looking at the past 4 minutes on the charts, Europe's waking up

Edit: I time-zone discriminated you

Edit2: oooh GU is baiting those shorts
  • #10,055
  • Apr 9, 2015 1:07am Apr 9, 2015 1:07am
maybe some supprt in cable at 1.4826/38....
Look Sharp/Trade Tight
  • #10,056
  • Apr 9, 2015 1:32am Apr 9, 2015 1:32am
Quoting PayTheLimit
maybe some supprt in cable at 1.4826/38....
Some support? Yes. But will it hold? It's less likely than the odds of it being breached.

We've just reached 1.4980/70 (i.e. clear rejection of going to 1.5000) twice in three days. With this downturn beginning to gather steam, optimal targets are between 1.4800~1.47500 for me.

Of course, if we get surprising news, it could change things. But assuming news doesn't make much of an impact, I don't think 1.4840/30 will hold.
  • #10,057
  • Apr 9, 2015 1:34am Apr 9, 2015 1:34am
Quoting raiders
risky but i just got short AU target is at .76
exited trade since its gone nowhere fast. looked promising at first but ehhh

lookimg at GA short real hard right now
  • #10,058
  • Apr 9, 2015 1:47am Apr 9, 2015 1:47am
Quoting alexpi
{quote} GU Still ranging between these two points, I'm surprised at the move on GBPCAD and GJ, given how calm GU was.
If news and London open break 1.8834 we're in business for 1.5. On the downside we could have a runner as I don't really see any good, untested demand/support zones, lots of buy orders have been covered over the past 20 days and I wouldn't even try to guess if big money would place pending longs there...
  • #10,059
  • Apr 9, 2015 1:57am Apr 9, 2015 1:57am
Quoting alexpi
{quote} If news and London open break 1.8834 we're in business for 1.5. On the downside we could have a runner as I don't really see any good, untested demand/support zones, lots of buy orders have been covered over the past 20 days and I wouldn't even try to guess if big money would place pending longs there...
Yup. If this bounce continues, I'm pulling out with whatever losses I have.

At the same time, if this falls back down, then it might have all been a preparation to go down to weekly lows. It would be a real dick move for the market to just dip back down and lower (i.e. bull trap) , but I'm not discounting that. Still, current situation isn't looking good or my short. I have my finger on the close button.

It'll all depend on price action in the end.
  • #10,060
  • Apr 9, 2015 2:02am Apr 9, 2015 2:02am
News is good, I'm still on the fence
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