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Dragon Riders GBP/JPY

  • #10,601
  • Apr 20, 2015 11:48pm Apr 20, 2015 11:48pm
US100
No recent higher highs.
doesnt mean it wont break up. but it worries me that it keeps testing low
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  • #10,602
  • Apr 20, 2015 11:56pm Apr 20, 2015 11:56pm
Quoting raiders
US100 No recent higher highs. doesnt mean it wont break up. but it worries me that it keeps testing low {image}
TRYING TO COME DOWN
  • #10,603
  • Apr 21, 2015 12:02am Apr 21, 2015 12:02am
Quoting ptakerpk
{quote} TRYING TO COME DOWN
i agree. ive got a target on it if interested lol
  • #10,604
  • Apr 21, 2015 1:11am Apr 21, 2015 1:11am
Wow, this is why I like this thread. The previous page was full of great fundamental analysis. The weightings of price drivers both bullish and bearish. I agree with MPT, at least 173 before a clear channel upward is established. Reading the ZeroHedge.com financial articles (not the pro Putin anti U.S. and anti semetic rubbish.) Scanning around I must say there is big risk moving forward here.

On the crosses the UK elections and no near BOJ increase in easing. General market vibes are strange. The DOW rallied big time today but let's look at the environment in which it rallied: Local government reserves in Greece have been confiscated. BNP says China is heading towards a major growth contraction. Now I'm reading just because Greece defaults does not mean it's out of the zone, NOT reasurring. David Einhorn thinks that it is a good possibility earnings will initiate shrink mode. Stock prices are way too high for that. He's added more shorts. These rallies are very suspect to me with all the alarms going off.

The only thing that can trump all these omens are the central banks. So powerful they can inflate asset prices longer that I can stay short. Still short at 177.77. Hope I don't get demolished.
Be humble or be humbled.
  • #10,605
  • Apr 21, 2015 1:16am Apr 21, 2015 1:16am
Good morning everyone
  • #10,606
  • Apr 21, 2015 1:23am Apr 21, 2015 1:23am
Quoting alexpi
Good morning everyone
And a late afternoon to you.
  • #10,607
  • Apr 21, 2015 1:29am Apr 21, 2015 1:29am
Quoting Mpt
{quote} And a late afternoon to you.
Seems Tokyo/Sydney were a snooze
  • #10,608
  • Apr 21, 2015 1:30am Apr 21, 2015 1:30am
eur looking like it wants to go to hell today?
  • #10,609
  • Apr 21, 2015 1:30am Apr 21, 2015 1:30am
Support 1: 1.4869
Support 2: 1.4831
Resistance 1: 1.4964
Resistance 2: 1.5022

Prefer a fall to below 1.4869. Then a correction to above 1.5022 is anticipated. A clear break of 1.4831 is again bearish.
  • #10,610
  • Apr 21, 2015 1:45am Apr 21, 2015 1:45am
Quoting alexpi
{quote} Seems Tokyo/Sydney were a snooze
Mate, no matter what time it is, we're always wide awake and on the ball down here.
  • #10,611
  • Apr 21, 2015 1:53am Apr 21, 2015 1:53am
Morning all. Almost midnight for me.
Be humble or be humbled.
  • #10,612
  • Apr 21, 2015 1:53am Apr 21, 2015 1:53am
Quoting Mpt
{quote} Mate, no matter what time it is, we're always wide awake and on the ball down here.
Inserted Video


"Yeah, funhouse is open,
And now the sundowns approachin',
The boatshed is where I live it up all day
And magic mushrooms litter the walkway,
To a gumtree swing for the hot sun,
Where we fish off the dock with a shotgun,"

#metaphortime
  • #10,613
  • Apr 21, 2015 2:05am Apr 21, 2015 2:05am
Quoting alexpi
{quote} https://www.youtube.com/watch?v=A2YDdGXvfPM "Yeah, funhouse is open, And now the sundowns approachin', The boatshed is where I live it up all day And magic mushrooms litter the walkway, To a gumtree swing for the hot sun, Where we fish off the dock with a shotgun," #metaphortime
High class Australian culture for the early evening. Think I'll pour some wine and sit outside with the mosquitoes.
  • #10,614
  • Apr 21, 2015 2:10am Apr 21, 2015 2:10am
Sounds excellent
  • #10,615
  • Edited 2:38am Apr 21, 2015 2:27am | Edited 2:38am
On trading - in my view GBPJPY is having a mediocre reaction to the 178.06-178.91 Daily supply. 4H tl was broken and 177.98-178.2 zone was tested twice. This is good because all these Daily/4H supply zones getting tested means that, under supply & demand, the only place where price will be lagging during the eventual upswing is 178.48-178.74. On the downside I've got 174.42 as the nearest demand so I'm looking to TP just above there and will look for good opportunities to long or short, depending on what happens there.

All that being said a third retest of 178 is a signal of strength imo so I'll get out of my positions if it goes there again.

Edit: I find myself missing Ray's DP lines, they were/are really good for adding flexibility to S&D trading

Edit2: The undrawn daily zone from 177.69 to 178.75 won't be a zone even if price makes a lower low
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  • #10,616
  • Apr 21, 2015 3:11am Apr 21, 2015 3:11am
"Abe advisor Hamada:need more easing if can't hit 2% in core-core CPI:Nikkei"

I very much dislike this Hamada guy Out with the profit I got, appreciate the little things right?
  • #10,617
  • Apr 21, 2015 5:25am Apr 21, 2015 5:25am
Quoting alexpi
"Abe advisor Hamada:need more easing if can't hit 2% in core-core CPI:Nikkei" I very much dislike this Hamada guy Out with the profit I got, appreciate the little things right?

Better to make a small profit than a loss

My broker don't cover NZD/CAD shame, looks like a nice pair.
  • #10,618
  • Apr 21, 2015 8:55am Apr 21, 2015 8:55am
Quoting Talzus
{quote} Better to make a small profit than a loss My broker don't cover NZD/CAD shame, looks like a nice pair.
Agreed, that's why I moved the SL in the first place
  • #10,619
  • Apr 21, 2015 9:06am Apr 21, 2015 9:06am
Lost another 45 pips on the short side of GJ. I better just realize that this market is completely fixed and USD/JPY HAS to rise. Buy all dips. If UJ does not rise that means central bank policies are not working and that is something that can never be.
Be humble or be humbled.
  • #10,620
  • Apr 21, 2015 9:09am Apr 21, 2015 9:09am
Quoting Temujin
Lost another 45 pips on the short side of GJ. I better just realize that this market is completely fixed and USD/JPY HAS to rise. Buy all dips. If UJ does not rise that means central bank policies are not working and that is something that can never be.

wish this place had a 'like' button
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