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Dragon Riders GBP/JPY

  • #10,661
  • Apr 22, 2015 3:00am Apr 22, 2015 3:00am
179 held pretty well so far
  • #10,662
  • Edited 4:09am Apr 22, 2015 3:06am | Edited 4:09am
Yes, it's a good rejection, we'll see if it's a dump and pump or a legit move in 25 minutes

Edit: If it closes above 179 on 5/15 minute, 180 is possible today... Don't know why it's happening, considering the news is not hawkish

Edit2: gonna try a long on the retest of 179, see what happens, SL at 178.88 Edit3: Didn't get triggerd
  • #10,663
  • Apr 22, 2015 4:10am Apr 22, 2015 4:10am
This sucker's going to pluto. I'm out at 178.84. It blew past the 179.1 ceiling.
Lost....
  • #10,664
  • Apr 22, 2015 4:22am Apr 22, 2015 4:22am
I think GBPJPY is restrained by the 179.50 horizontal mark, breaking which 181 can be immediate TP and it could continue observing long-standing ascending trend channel, negating chances of near-term decline.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDaily.png Size: 31 KB
  • #10,665
  • Apr 22, 2015 4:41am Apr 22, 2015 4:41am
getting tired?
  • #10,666
  • Apr 22, 2015 4:46am Apr 22, 2015 4:46am
Quoting gespiri
This sucker's going to pluto. I'm out at 178.84. It blew past the 179.1 ceiling.
Good decision to get out imo
  • #10,667
  • Apr 22, 2015 5:10am Apr 22, 2015 5:10am
Quoting alexpi
{quote} Good decision to get out imo
Thank God I put a stop before going to a meeting!

Now the picture's distorted. If we follow the upper descending trend line on the daily, it shows this level at around 182.1. The question is whether it will hit this level today or in 5 days to fulfill the 181.1 ceiling.
Lost....
  • #10,668
  • Apr 22, 2015 5:13am Apr 22, 2015 5:13am
If it closes below 179.5/6 today (D1 candle) we could be in for a drop. Even if it gets to 180 before that Meanwhile I'm still looking for a chance to go long, but after I missed the 179.03 entry it seems unlikely to happen
  • #10,669
  • Edited 7:51am Apr 22, 2015 7:23am | Edited 7:51am
Hey Guys,

I don't trade fundamentals; mainly because it confuses me I like the technical side of trading. However, I'd be stupid to ignore fundamentals completely.

my technicals seem to be holding up. It be nice if it breaks this 180 barrier. Anyho.. my question...

What fundamentals caused the lovely raise that we're just seen?

Thanks

T

edit : AAAAAND Out..
  • #10,670
  • Apr 22, 2015 8:02am Apr 22, 2015 8:02am
Updated chart attached first move completed
Attached Image (click to enlarge)
Click to Enlarge Name: GJ3.JPG Size: 178 KB
the market can remain irrational longer than you can remain solvent
  • #10,671
  • Apr 22, 2015 8:07am Apr 22, 2015 8:07am
Still short from 178.63 and staying in until it reverses or the account blows out.
Be humble or be humbled.
  • #10,672
  • Apr 22, 2015 8:08am Apr 22, 2015 8:08am
Quoting Sombasan
Updated chart attached first move completed {image}

Teach a newbie whats this showing me?
  • #10,673
  • Apr 22, 2015 8:23am Apr 22, 2015 8:23am
Quoting Talzus
{quote} Teach a newbie whats this showing me?
Hey there so essentially if you take a look at my first chart we should have price action settle around 180.3-180.5 or so during the NY after that given the range from there I'll start to look short to do down side. However there is still a change we could climb higher to 181. But ranging from 180.5-179.0 has a high probability over the next 2 days
the market can remain irrational longer than you can remain solvent
  • #10,674
  • Apr 22, 2015 9:02am Apr 22, 2015 9:02am
Quoting Sombasan
{quote} Hey there so essentially if you take a look at my first chart we should have price action settle around 180.3-180.5 or so during the NY after that given the range from there I'll start to look short to do down side. However there is still a change we could climb higher to 181. But ranging from 180.5-179.0 has a high probability over the next 2 days

Thanks - are these fib retracements?
  • #10,675
  • Apr 22, 2015 9:06am Apr 22, 2015 9:06am
Quoting Talzus
{quote} Thanks - are these fib retracements?
Indeed they are I don't use a lot of tools, just simple fibs on a Day & 4hr charts. Although when I execute a trade, I use a tick chart as I focus on price action
the market can remain irrational longer than you can remain solvent
  • #10,676
  • Apr 22, 2015 9:35am Apr 22, 2015 9:35am
Quoting Sombasan
{quote} Indeed they are I don't use a lot of tools, just simple fibs on a Day & 4hr charts. Although when I execute a trade, I use a tick chart as I focus on price action

Clever I like it! I'm only breakout trading at the moment, will start introducing fibs soon. I'm trying to built myself a strategy. So far so good but it's hard work!
  • #10,677
  • Apr 22, 2015 9:36am Apr 22, 2015 9:36am
Quoting Talzus
{quote} Clever I like it! I'm only breakout trading at the moment, will start introducing fibs soon. I'm trying to built myself a strategy. So far so good but it's hard work!
And it is trial and error ... only by feeling the pain of losing your hard earned money you will understand what went wrong ...
Fix up, trade sharp ...
  • #10,678
  • Edited 10:18am Apr 22, 2015 10:06am | Edited 10:18am
there is another way to look at the charts , Ya'll......by your wrist watch.!!!!! ..... I have my main technique which I posted back in the 300 pages or so.....
'
looking for an outside moment on the 15M chart .......at a few different pairs.......it always pays well.........lookin for dat outside P A is what I mean.......

At 4:30 am New York time........outside P A for an hour usually or more meaning the price bars have wandered from where they were..........so your looking for a reverse on the outside hour..................
Go get em Dragon Riders....Dragon Riders unite......!!

loadin yas up with some tools in your tool box......all hail the creator of the this thread, He showed me a new view, that's so important.
  • #10,679
  • Apr 22, 2015 10:08am Apr 22, 2015 10:08am
Once you trade this pair there is no trading any other. That is a 500 pip run in 7 days. I took a sell position at 180 and that is it I'm staying short.
Be humble or be humbled.
  • #10,680
  • Apr 22, 2015 10:10am Apr 22, 2015 10:10am
Quoting Talzus
{quote} Clever I like it! I'm only breakout trading at the moment, will start introducing fibs soon. I'm trying to built myself a strategy. So far so good but it's hard work!
that's the way mate
the market can remain irrational longer than you can remain solvent
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