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Dragon Riders GBP/JPY

  • #10,681
  • Apr 22, 2015 8:17am Apr 22, 2015 8:17am
Hoping to long G/J at 179.65 sometime this evening. Waiting patiently.
  • #10,682
  • Apr 22, 2015 8:21am Apr 22, 2015 8:21am
Hey, the Eur Aud is cool too!!!!! The premier carry instrument.....not top one, just premier......
  • #10,683
  • Apr 22, 2015 8:23am Apr 22, 2015 8:23am
Alert..............mandatory reading......page 534.......go get em.....
  • #10,684
  • Apr 22, 2015 9:10am Apr 22, 2015 9:10am
so if todays chart is a mirror image to yesterdays. im thinking we have another push. dont know if its gonna happen, but if we get this nice long base again, the chart is telling me to buy
  • #10,685
  • Apr 22, 2015 9:13am Apr 22, 2015 9:13am
also,maybe 1 more push south on UC?
  • #10,686
  • Apr 22, 2015 10:36am Apr 22, 2015 10:36am
Quoting raiders
also,maybe 1 more push south on UC?
Wouldn't trade UC for now, it's in no man's land, can go either way
  • #10,687
  • Apr 22, 2015 10:52am Apr 22, 2015 10:52am
Quoting alexpi
{quote} Wouldn't trade UC for now, it's in no man's land, can go either way
no not today maybe tomorow though. just watching it for now. but im looking for dollar weakness now and this is hovering low. also watching NU for a long.
  • #10,688
  • Apr 22, 2015 11:10am Apr 22, 2015 11:10am
Quoting raiders
{quote} no not today maybe tomorow though. just watching it for now. but im looking for dollar weakness now and this is hovering low. also watching NU for a long.
scratch that. i like the price its passing. UC target 1.215
  • #10,689
  • Apr 22, 2015 12:46pm Apr 22, 2015 12:46pm
I just have to admit I have failed at attempting to trade GBP/JPY but before I admit defeat at FOREX altogether I'll try EUR/USD. Never traded it really. Perhaps after tangling for the last 3 years with such a difficult cross a major one will be easier.
Be humble or be humbled.
  • #10,690
  • Apr 22, 2015 1:02pm Apr 22, 2015 1:02pm
Quoting Temujin
I just have to admit I have failed at attempting to trade GBP/JPY but before I admit defeat at FOREX altogether I'll try EUR/USD. Never traded it really. Perhaps after tangling for the last 3 years with such a difficult cross a major one will be easier.
Dear Temujin,
I Started trading forex in Sep 2008, since then I've practiced various Pairs and various strategies.
I'm not claim that I know much in this market.
I'm not claim that I know which strategy is better than the others.
I'm not claim that I know which pair is better than the others.
but
I do insist that if you are not successful in trading, changing the pair which you trade will not solve anything for sure, All the pairs are the same only they are related to various economies (ie: EUR for Europe and GBP for UK), so they response to various fundamental factors due to that they have different historic data, and the statistical data which we see in form of indicators are different.

Being successful in trading is more depends on how you behave in response to price fluctuation rather then motivating fundamental and/or Technical Factors.
A successful Car Dealer will be successful in real state also, although they require various context knowledge.
I suggest to invest your time on psychological aspects to trading, instead of investing your time and money on changing the trading pairs.

Best Regards
Tryfoss
  • #10,691
  • Apr 22, 2015 2:15pm Apr 22, 2015 2:15pm
Quoting Tryfoss
{quote} Dear Temujin, I Started trading forex in Sep 2008, since then I've practiced various Pairs and various strategies. I'm not claim that I know much in this market. I'm not claim that I know which strategy is better than the others. I'm not claim that I know which pair is better than the others. but I do insist that if you are not successful in trading, changing the pair which you trade will not solve anything for sure, All the pairs are the same only they are related to various economies (ie: EUR for Europe and GBP for UK), so they response...
tryfoss, you are awesome. If only we could have people like you running America.
  • #10,692
  • Apr 22, 2015 2:21pm Apr 22, 2015 2:21pm
Well, I've been waiting patiently for G/J to pull back to around 179.60 so I can go long but now I've noticed retail sales are expected to disappoint, so maybe I won't get the opportunity to make some pips.
  • #10,693
  • Apr 22, 2015 3:24pm Apr 22, 2015 3:24pm
Quoting gespiri
{quote} Time will tell. I wish FX-Ray shared his method on calculating the DPs since the levels changed weekly. It's somewhat close to daily pivot calculations but with expanded range. Anyway, I'm short from 178.8 targeting 177.6x. Looking at the daily/4hr chart, 179.xx was a resistance for an inverted H/S. I'm still hoping for 175.7 retest before breaking the 179.xx resistance. It could go up to the 179.10 area or fall from here.
He did share half of it.
If you have a look at market profile trading and TPOs you will find your answer. He added some extra clever statistical stuff but you won't be too far away.
Ray pointed me towards it and i did some research. My take on it is basic so if anyone knows better please chip in.

It's a trading method that was developed about 30years ago in Chicago. Basically it plots a position (called a TPO-trade price opportunity) on vertical price scale every 30minute period. The more times that price point is reached in any given period (usually a day) the more TPOs are plotted. It's good at identifying levels of support and resistance or DPs in rays language.
Trading profiles relies on the principle of establishing value areas; price points where the value of a currency is generally accepted by the bulls and bears. The ideal is that price will return to these points at some point in time as the market tries to achieve equilibrium.

It's not a very common method because you need a special data feed and costly software. There are MT4 indis that do a similar job but it's not the same.

There is a thread dedicated to that method in this section. Like I said, Ray did some other stuff to make it even more accurate which is how he came up with those bar charts.
  • #10,694
  • Apr 22, 2015 3:36pm Apr 22, 2015 3:36pm
Quoting Temujin
I just have to admit I have failed at attempting to trade GBP/JPY but before I admit defeat at FOREX altogether I'll try EUR/USD. Never traded it really. Perhaps after tangling for the last 3 years with such a difficult cross a major one will be easier.
I tried EU but found it very difficult. As the most traded pair it has huge volume but it just didn't seem right to me. It hugely affected by complex fundamentals that I have no hope of understanding and if big players decide they want it to move, it will move in accordance with their whim with scant regard to technical aspects.
Just my experience.

Furthermore, the EU thread here has far too many cocks in it so you won't get any help there.
  • #10,695
  • Apr 22, 2015 3:40pm Apr 22, 2015 3:40pm
Quoting anima999
{quote} I tried EU but found it very difficult. As the most traded pair it has huge volume but it just didn't seem right to me. It hugely affected by complex fundamentals that I have no hope of understanding and if big players decide they want it to move, it will move in accordance with their whim with scant regard to technical aspects. Just my experience. Furthermore, the EU thread here has far too many cocks in it so you won't get any help there.
I thought it was just me realizing most of the E/U thread posters are ass holes. Happy to see someone else has that opinion.
  • #10,696
  • Apr 22, 2015 3:42pm Apr 22, 2015 3:42pm
so ladies and gentlemen what do you predict for next week?
  • #10,697
  • Apr 22, 2015 3:52pm Apr 22, 2015 3:52pm
Quoting Temujin
I just have to admit I have failed at attempting to trade GBP/JPY but before I admit defeat at FOREX altogether I'll try EUR/USD. Never traded it really. Perhaps after tangling for the last 3 years with such a difficult cross a major one will be easier.
Have a look at vermillion's trading. He has a skill at spotting S/R levels similar to rays DPs and has made some serious pips out of cable over the last couple of weeks. He pops in here occasionally.
  • #10,698
  • Apr 22, 2015 3:57pm Apr 22, 2015 3:57pm
Quoting snipereye
so ladies and gentlemen what do you predict for next week?
You left out Aliens................
The More You Learn, The More You Earn.....
  • #10,699
  • Apr 22, 2015 4:01pm Apr 22, 2015 4:01pm
Quoting forexalien
{quote} You left out Aliens................
Haha, long time no seen!

How you doing?
  • #10,700
  • Apr 22, 2015 6:11pm Apr 22, 2015 6:11pm
Dat's funny up there....LOL
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