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Dragon Riders GBP/JPY

  • #10,621
  • Apr 21, 2015 9:23am Apr 21, 2015 9:23am
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.
I will agree with you if price breaks above 178.75
  • #10,622
  • Apr 21, 2015 9:43am Apr 21, 2015 9:43am
Yes, take all the general market risk that abounds, all the intelligent analysis. Weigh both sides of the pair and what is occuring with their economy of both countries. Then go to the technicals and get a consensus of great opinions. After this make sure you do the opposite because the market is not going to allow you to win.
Be humble or be humbled.
  • #10,623
  • Apr 21, 2015 9:51am Apr 21, 2015 9:51am
There is some serious flaw in my MM. Many times I've been in profit and stayed in for some definitive direction that never materialized only to see a huge draw manifest.
Be humble or be humbled.
  • #10,624
  • Apr 21, 2015 9:58am Apr 21, 2015 9:58am
Here is my chart. Took another short here because the 220 EMA on the H4, the white line should stop it. Let me know what you think.

https://www.mql5.com/en/charts/33295...vision1?bind=1
Be humble or be humbled.
  • #10,625
  • Apr 21, 2015 10:00am Apr 21, 2015 10:00am
Quoting Temujin
Here is my chart. Took another short here because the 220 EMA on the H4, the white line should stop it. Let me know what you think. https://www.mql5.com/en/charts/33295...vision1?bind=1
The yellow and green are moving averages? 20 and 50 sma?
  • #10,626
  • Apr 21, 2015 10:03am Apr 21, 2015 10:03am
Yellow is 14, Green 48 because according to some super computer that ran thousands of calculations this is the true "Golden Cross" Red is 120 and white 220. All are EMA not SMA.
Be humble or be humbled.
  • #10,627
  • Apr 21, 2015 10:08am Apr 21, 2015 10:08am
Here is the daily. Look and see how it has wormed it's way back above the 220 EMA. Perhaps this is telling me it will not be allowed to break down.

https://www.mql5.com/en/charts/33296...anda-division1
Be humble or be humbled.
  • #10,628
  • Apr 21, 2015 10:11am Apr 21, 2015 10:11am
On the weekly it has found a way back above the 48 EMA.

https://www.mql5.com/en/charts/33296...anda-division1

On the weekly it must rise above 179.20 to be above the yellow short term moving average again, full tilt bull mode. The 14 on the weekly should stop it cold.
Be humble or be humbled.
  • #10,629
  • Apr 21, 2015 10:16am Apr 21, 2015 10:16am
Quoting Temujin
Yellow is 14, Green 48 because according to some super computer that ran thousands of calculations this is the true "Golden Cross" Red is 120 and white 220. All are EMA not SMA.
gotcha. i use sma's. looks basically the same.

Please remember im in the minority here and think we go up. so take this with a grain of salt. also, im not long. yet.

would you classify them crossing as a golden cross at this time? I would. imo you prob get a small bounce off that white line. dont think it will be sustained though. its risky, but, you can buy off what ever bounce you get and ride north if you do indeed need to get in a trade. if i were trading the 4 hour chart, then the point to buy in for me would be somewhere around 179.10/20. if it passes this level it would be the text book definition of a bullish power reversal
  • #10,630
  • Apr 21, 2015 10:21am Apr 21, 2015 10:21am
Quoting raiders
{quote} gotcha. i use sma's. looks basically the same. Please remember im in the minority here and think we go up. so take this with a grain of salt. also, im not long. yet. would you classify them crossing as a golden cross at this time? I would. imo you prob get a small bounce off that white line. dont think it will be sustained though. its risky, but, you can buy off what ever bounce you get and ride north if you do indeed need to get in a trade. if i were trading the 4 hour chart, then the point to buy in for me would be somewhere around 179.10/20....
Makes sense, price closing above so resistance becomes the support. Thanks for the feedback.
Be humble or be humbled.
  • #10,631
  • Apr 21, 2015 10:30am Apr 21, 2015 10:30am
AU 15M and 30M chart same pattern

GU 15M also
  • #10,632
  • Apr 21, 2015 10:41am Apr 21, 2015 10:41am
Quoting raiders
AU 15M and 30M chart same pattern GU 15M also
Good pair to try AUD/USD, low spread and cheap too.

Very interesting weekly on GBP/JPY. February was looking strong. Came off the green 48 EMA. Even rose above the yellow 14. But look at the price action now. Has fought it's back above the 48 EMA but all PA now is below the 14 line. I see weakness and a slow tide lower and lower.

https://www.mql5.com/en/charts/33298...anda-division1

Oh yes, that surge we just saw looks like nothing but a stop run to me.
Be humble or be humbled.
  • #10,633
  • Apr 21, 2015 11:14am Apr 21, 2015 11:14am
Quoting Temujin
{quote} Good pair to try AUD/USD, low spread and cheap too. Very interesting weekly on GBP/JPY. February was looking strong. Came off the green 48 EMA. Even rose above the yellow 14. But look at the price action now. Has fought it's back above the 48 EMA but all PA now is below the 14 line. I see weakness and a slow tide lower and lower. https://www.mql5.com/en/charts/33298...anda-division1 Oh yes, that surge we just saw looks like nothing but a stop run to me.
be careful though. au doesnt seem to have any power behind it. come to think of it, it might be too late in the day for any real movement anywhere
  • #10,634
  • Apr 21, 2015 11:38am Apr 21, 2015 11:38am
Quoting raiders
{quote} be careful though. au doesnt seem to have any power behind it. come to think of it, it might be too late in the day for any real movement anywhere
Glenn Stevens passed on the last rate cut and negative data in the U.S. was the next booster to AUD. Long term projections are like .72 because Stevens wants to cut another 0.25% at some point and the Fed is still expected to raise rates. The market is UJ crazed now with calls as high as 128 and a break out very soon.
Be humble or be humbled.
  • #10,635
  • Apr 21, 2015 11:52am Apr 21, 2015 11:52am
http://www.fxstreet.com/rates-charts...dparell=gbpjpy

switch it to the 1H

sometimes it helps for me to look at things on a different chart. take a look at that. what i hope to see over the next few hours, is a basing around these levels. dont really care where it goes from here as long as it doesnt keep running north on me. when it hits that green line im going to look to enter. either at A) around 178.8 or B) the bounce off the channel. depends how deep the pullback is. if anything other than that scenario happens i wont do anything.
  • #10,636
  • Apr 21, 2015 12:04pm Apr 21, 2015 12:04pm
Quoting raiders
http://www.fxstreet.com/rates-charts...dparell=gbpjpy switch it to the 1H sometimes it helps for me to look at things on a different chart. take a look at that. what i hope to see over the next few hours, is a basing around these levels. dont really care where it goes from here as long as it doesnt keep running north on me. when it hits that green line im going to look to enter. either at A) around 178.8 or B) the bounce off the channel. depends how deep the pullback is. if anything other than that scenario happens...
New H4 candle. It's gonna chicken out soon I think.
Be humble or be humbled.
  • #10,637
  • Apr 21, 2015 12:36pm Apr 21, 2015 12:36pm
Au no follow through on 15m
Gu did its part on 15m
  • #10,638
  • Apr 21, 2015 12:38pm Apr 21, 2015 12:38pm
Trading this pair has made my account unrecognizable to what it used to be. Ive lost about 35% so far. I'm going to try the weekly chart now and that's it for me. After 3 years of watching and trading this pair I can say this market is completely gamed by automated algorithmic black boxes banks pay millions to develop. That's why banks like JPM Chase can have only 1 losing day out of a whole quarter. Short term they will destroy any retail trader.

However I did know an airhead chick once and her pip acculmulation would put any pro to shame. It was something like 6,000 pips total on a few pairs. She wouldn't even try to play their fuckin' short term games. She went with a weekly chart and just rammed it down their fuckin' throats.
Be humble or be humbled.
  • #10,639
  • Apr 21, 2015 2:39pm Apr 21, 2015 2:39pm
Quoting Temujin
Trading this pair has made my account unrecognizable to what it used to be. Ive lost about 35% so far. I'm going to try the weekly chart now and that's it for me. After 3 years of watching and trading this pair I can say this market is completely gamed by automated algorithmic black boxes banks pay millions to develop. That's why banks like JPM Chase can have only 1 losing day out of a whole quarter. Short term they will destroy any retail trader. However I did know an airhead chick once and her pip acculmulation would put any pro to shame. It was...
Try another pair or another strategy. Gbp/jpy is manipulated to the maximum, it needs extra caution. looks like FX Ray did not finish what he started here ... some people starting to get desperate Well, I hang on. Not trading Geppy any longer since I do not understand this pair really!
Fix up, trade sharp ...
  • #10,640
  • Apr 21, 2015 2:44pm Apr 21, 2015 2:44pm
Quoting Temujin
Trading this pair has made my account unrecognizable to what it used to be. Ive lost about 35% so far. I'm going to try the weekly chart now and that's it for me. After 3 years of watching and trading this pair I can say this market is completely gamed by automated algorithmic black boxes banks pay millions to develop. That's why banks like JPM Chase can have only 1 losing day out of a whole quarter. Short term they will destroy any retail trader. However I did know an airhead chick once and her pip acculmulation would put any pro to shame. It was...
be patient. its still rays thread and dudes biggest thing was patience. you got your pull back at your spot all is good. i have no idea which way this thing goes. but the longer it holds here the bigger my hard on gets lol

news coming out later that should give volatility to the market. not sure if this pair gets any of it. but the next time this bounces properly off of 178.5 im in. part C) to the plan lol. hoping to get some cushin for the pushin
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