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Dragon Riders GBP/JPY

My main concern, is that the SL are too tight, too soon....
Do not let the cost of being wrong, exceed the prize of beeing right
Quoting thegmann
{quote} Im in no way angry. Im just trying to point out that how Decima was trading is in no way "wrong" or overly aggressive/dangerous. He is just trading in a different style. 1-2 weeks is an extremely long time to be trading a 4hr I would say thats more in range with a daily with using 4hr for entries. 2-10 years is an INSANELY long time I don't know many people holding trades on that long of a timeframe outside of large institutions/ macro hedge funds. Either way I wasn't trying to come off as angry or anything just trying to give some...
2-10 for trading career, as in the activity of trading. Not holding trades for 2-10 years
Have a pending long on GU if it breaks the high im in. its a perfect set up
BTW IM AN IDIOT FOR PULLING MY SHORT YESTERDAY! PATIENCE DAMNIT!!!!
Quoting gespiri
Thanks Hickson for bringing this up. Thanks DP for respecting the rules. Perhaps you should open up a Ruble thread for those interested. Anyway, geppy hit another one of FX-rays DP at 175.69 (I had a big buy limit at 175.7 but didn't get filled for some reason). I hope this think re-tests these levels forming an inverted H/S pattern before resuming up. It took 47 bars to form the left shoulder, and we are 20 bars short on the right one. Let's wait and see.
There is a good chance this will revisit the 175.7 area and I hope it does so I can load up on longs.
Lost....
Quoting gespiri
{quote} There is a good chance this will revisit the 175.7 area and I hope it does so I can load up on longs.
Not sure if it gets that low. What makes you say its going to go down there again?
Pah hahahhaha. .. epic newbie trader mistake

Set up a trade last night to open if the price gets to 176.7x (long ) which it did on a spike today. Pulled me into a trade. ..

Forgot to set lot size....
forgot to set stop loss..


-£3000 pmsl

If that was real money I'd cry.....

Lessons learnt
Quoting raiders
Have a pending long on GU if it breaks the high im in. its a perfect set up
Im in. If it can pass 4820 I won't worry about it. Think it will run a bit but not sure if I will hold going into the news
Edit: Just passed it.
Quoting alexpi
And a break of Daily 20 EMA could open the doors for the move up to Weekly trendline Wouldn't put down any money on that just yet though. Don't see any fundamental support for such a big correction Edit: Though the continuous bad results for USA economy could let that happen, and no rate hike in September combined with so-so news for Australia can lead to even higher moves to Monthly tl ... {image}
I'm going to start trading like you.....I sold the aud at 7700.....after what you said came true...
got absolutely murdered today on a pending long i had sitting on ucad at 1.24 SL 1.23 to ride range back up well...you can see how that one went... was supposed to be a longer term trade it's already closed out...ROFL entire weeks profit gone markets won this week!
Quoting raiders
{quote} Not sure if it gets that low. What makes you say its going to go down there again?
Right now it might be consolidating between 176.6 - 175.7. Bias is to the upside but looks like there's selling at the top range while the bottom will be retested.

I'm also following the daily PPs on this and it shows the range between M3 and M2.
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Lost....
Quoting gespiri
{quote} Right now it might be consolidating between 176.6 - 175.7. Bias is to the upside but looks like there's selling at the top range while the bottom will be retested. I'm also following the daily PPs on this and it shows the range between M3 and M2. {image}
Im long at 176.28, whats the feeling on upside targets???
Quoting raiders
{quote} Im in. If it can pass 4820 I won't worry about it. Think it will run a bit but not sure if I will hold going into the news Edit: Just passed it.
Free trade at this point. If it holds till tomorrow looking at 4970 to cash out
GJ just in a rising wedge?

GU running into resistance. UJ on the verge of losing it's medium term up trend....again
Watching hourly candle closes intently,,, just n case the long is a trap, not like that ever happens.
Quoting js5020
Watching hourly candle closes intently,,, just n case the long is a trap, not like that ever happens.
Never!
yeap,thinkin the same...a rising wedge.
ready to breakout to south(rising in downtrend) OR north (AscendingTriangle) ? need wait for further confirmation.
Attached Images
Quoting Mpt
GJ just in a rising wedge? GU running into resistance. UJ on the verge of losing it's medium term up trend....again
Perhaps. Although the indicator I use is beginning to turn north a bit. Doesn't mean the bear run is over. But it's telling me to start looking north instead of south.
long triggered
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55 pips in profit secured. Around 60 pips down from where price is now. Aso under the EMA21 line, on the 4h chart.

The picture below shows the signals given on daily.

In the indicator window, the grey line is consensus of the market. The white line is price. There is a divergence between these.

Also yesterday, the red line crossed the black line. This is partly a signal to enter/price is moving in the direction of the cross.

In my opinion this is getting an increasingly bullish outlook.

http://http://i.imgur.com/6zmi0ZY.jpg
Do not let the cost of being wrong, exceed the prize of beeing right
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