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Dragon Riders GBP/JPY

  • #10,341
  • Apr 13, 2015 10:56pm Apr 13, 2015 10:56pm
Quoting Vermillion
Adjusted SL on my gbp/usd longs to 1.46210.
Took profit on all longs at 1.46770. I believe current ongoing trend is in favor of downside, though that may or may not change after moving down a few supports.
  • #10,342
  • Apr 13, 2015 11:07pm Apr 13, 2015 11:07pm
Feeling awfully bearish...Come on CPI come out already so we can actually trade. Anyways bed time i'll be back in 4 hrs
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  • #10,343
  • Apr 14, 2015 3:40am Apr 14, 2015 3:40am
Quoting thegmann
Feeling awfully bearish...Come on CPI come out already so we can actually trade. Anyways bed time i'll be back in 4 hrs {image}
Omg!! Risk off, how low can we go??
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  • #10,344
  • Apr 14, 2015 3:51am Apr 14, 2015 3:51am
Quoting melvinlimmy
{quote} Omg!! Risk off, how low can we go?? {image} {image}
I think it might be a little ambitious given the early move, but im aiming for 174
  • #10,345
  • Apr 14, 2015 3:55am Apr 14, 2015 3:55am
My order triggered 175 SL 174.5 we break 174.8 and this suckers going to drop hard. Risky trade we've broken out of support zone looking to catch bounce back up to it.
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  • #10,346
  • Apr 14, 2015 3:58am Apr 14, 2015 3:58am
A Little help please?

I set up a few trades last night, one being a short on this pair that has just been triggred. Low volume, only 0.1 lots. Still, It wasnt expected, I just had it there as a just in case trade..

Now its triggered, I have no idea where my TP should be.

Entry was 175.00 can anyone offer a suggestion?
  • #10,347
  • Apr 14, 2015 3:59am Apr 14, 2015 3:59am
Quoting melvinlimmy
{quote} Omg!! Risk off, how low can we go?? {image} {image}
which platform is it nice graphical view?
  • #10,348
  • Apr 14, 2015 4:06am Apr 14, 2015 4:06am
Quoting ven16
{quote} which platform is it nice graphical view?
Google play/app store- trade interceptor
  • #10,349
  • Apr 14, 2015 4:16am Apr 14, 2015 4:16am
Quoting Talzus
A Little help please? I set up a few trades last night, one being a short on this pair that has just been triggred. Low volume, only 0.1 lots. Still, It wasnt expected, I just had it there as a just in case trade.. Now its triggered, I have no idea where my TP should be. Entry was 175.00 can anyone offer a suggestion?
Lol hard to tell,i wont be trading this pair any time soon, but this pair would usually drop 300-500 pips during and after election.
  • #10,350
  • Apr 14, 2015 4:40am Apr 14, 2015 4:40am
Quoting Talzus
A Little help please? I set up a few trades last night, one being a short on this pair that has just been triggred. Low volume, only 0.1 lots. Still, It wasnt expected, I just had it there as a just in case trade.. Now its triggered, I have no idea where my TP should be. Entry was 175.00 can anyone offer a suggestion?
Calm down, you're scaring all the fish away.

If this level holds 174.9 - 175.0 then it should go up to the 180s.....maybe 185s but it will not happen today, tomorrow, nor next week. Like FX-ray and a whole lot of traders here say: Patience is the key. If it breaks this level down, then the next level is at 174.30/40 or even 173.9-174.0. You place your stop based on your risk level and account size.
Lost....
  • #10,351
  • Apr 14, 2015 4:43am Apr 14, 2015 4:43am
off to bed see if 175 holds by time wake back up in an hour.
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  • #10,352
  • Apr 14, 2015 4:52am Apr 14, 2015 4:52am
Quoting gespiri
{quote} Calm down, you're scaring all the fish away. If this level holds 174.9 - 175.0 then it should go up to the 180s.....maybe 185s but it will not happen today, tomorrow, nor next week. Like FX-ray and a whole lot of traders here say: Patience is the key. If it breaks this level down, then the next level is at 174.30/40 or even 173.9-174.0. You place your stop based on your risk level and account size.

Hahaha.. ok... I'm calm again...

Geez I was not expecting the market to flop like that.. I came out the trade with a few pips profit. Wrong area to be trading in...
  • #10,353
  • Edited 5:18am Apr 14, 2015 4:56am | Edited 5:18am
Quoting Talzus
A Little help please? I set up a few trades last night, one being a short on this pair that has just been triggred. Low volume, only 0.1 lots. Still, It wasnt expected, I just had it there as a just in case trade.. Now its triggered, I have no idea where my TP should be. Entry was 175.00 can anyone offer a suggestion?
Next up is 174.7, followed by the weekly cloud at about 174.2/3. Break under there for 173.3/5 ish and a break much under under 173 opens a relatively straight line into 171 and 168x. Conversely a hold over here to 173 could take it back towards 187/189 in time. Does that work for you? Pick which ever one you like.

Edit, ... no 171x would possibly revisit 175/6 first
  • #10,354
  • Apr 14, 2015 5:35am Apr 14, 2015 5:35am
Quoting Mpt
{quote} Next up is 174.7, followed by the weekly cloud at about 174.2/3. Break under there for 173.3/5 ish and a break much under under 173 opens a relatively straight line into 171 and 168x. Conversely a hold over here to 173 could take it back towards 187/189 in time. Does that work for you? Pick which ever one you like. Edit, ... no 171x would possibly revisit 175/6 first

Perfect! Thank you!
  • #10,355
  • Apr 14, 2015 5:36am Apr 14, 2015 5:36am
Quoting FX-Ray
{quote} I stayed in because daily closed 40 pips below DP 177.90/80; I expected a test of DP 177.90/80. Didnt happen, weakness. After the break of 1/2 we are close to DP 175.80/70. Look at my prior post, if DP 175.00/74.90 is support I'll take profits there and reverse my position. Add: The most important single thing: patience.
followed you ray and have a great long at 175. thank you very much simply the best
0 fcks given
  • #10,356
  • Apr 14, 2015 5:45am Apr 14, 2015 5:45am
Quoting Talzus
{quote} Perfect! Thank you!
It may be perfect but that's just an appraisal of the two options. The low volatility persists, with the on going expectation of a sizeable bounce ...... which has yet to eventuate. That's why it's very hard to call.

At some stage it bounces, or it drops precipitously. So you play it one step at a time.
  • #10,357
  • Apr 14, 2015 5:52am Apr 14, 2015 5:52am
Quoting Mpt
{quote} It may be perfect but that's just an appraisal of the two options. The low volatility persists, with the on going expectation of a sizeable bounce ...... which has yet to eventuate. That's why it's very hard to call. At some stage it bounces, or it drops precipitously. So you play it one step at a time.
I have trades set up for each outcome. I'd just not expected it to fall and hit my sell stop. When it did it scared me a little as I hadn't planned it correctly. Don't have MT4 at work so wanted to divert to experience.

As it happens, I closed the trade because of the risk element and lack of planning. Now that I have an idea where the supports are (thanks to you). I can replan the trade.

Took 10 pips (there about) shorting, went long at 175.00 will hold this trade and see what happens.

I don't like this short term volatility trading when I can't manage the trades live, I am trying a position trade strategy.

Let you know how I get on. (still very new so prone to some bad calls)
  • #10,358
  • Edited 6:06am Apr 14, 2015 5:55am | Edited 6:06am
Quoting thegmann
off to bed see if 175 holds by time wake back up in an hour. {image}


OUT +25 off to class can't watch the position
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  • #10,359
  • Apr 14, 2015 5:58am Apr 14, 2015 5:58am
Quoting Talzus
{quote} I have trades set up for each outcome. I'd just not expected it to fall and hit my sell stop. When it did it scared me a little as I hadn't planned it correctly. Don't have MT4 at work so wanted to divert to experience. As it happens, I closed the trade because of the risk element and lack of planning. Now that I have an idea where the supports are (thanks to you). I can replan the trade. Took 10 pips (there about) shorting, went long at 175.00 will hold this trade and see what happens. I don't like this short term volatility trading when...
Being a 'cross' when you look at GJ, it's often handy to watch and analysis both UJ and GU. It doesn't always help, but can assist in some situations.

For example, right here, UJ has departed 119.8 support and is a little vulnerable. But it would have to leave 118.7 to be in downside danger
  • #10,360
  • Apr 14, 2015 5:58am Apr 14, 2015 5:58am
When things like this happens , i always find the urge to change my trading approach. the gbp/jpy pair is imo fundamentally imbalanced. But the chart tells me otherwise... this happened me before on usd/jpy and when i closed my buy the pair suddenly went up in just a couple of days. Does anybody have an insight on why this occurs?

i dont think the Value mentallity doesnt fit the jpy pairs . = /
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