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Dragon Riders GBP/JPY

  • #10,981
  • May 12, 2015 10:12pm May 12, 2015 10:12pm
Quoting raiders
dont you think its gotta pullback some?
The chances are that a breech of 188.8/ 189.3/6/8 without significant fall back may just result in acceleration.
  • #10,982
  • May 13, 2015 12:52am May 13, 2015 12:52am
In the essence of a huge correction though, draw my long term centre rising TL and compare exact distance moves above and bellow in recent weeks, because failure at 189.5 ish could well force an attempt to break back down under 185 but be contained for another large BS move to new highs. A little like we saw last December. Maybe even an entire copy/paste of December

For those unaware, a line through 176.3 to 184.8/9, sitting today circa 185

Acceleration through 189.5 and 190.3/5 kind of destroys that option

GJ at 188.0
  • #10,983
  • May 13, 2015 2:37am May 13, 2015 2:37am
Hey everyone, busy two days, busy for the market too it seems

Glad to see you're back, Mpt

Both GU and GJ went wild well beyond my expectations on the bull side so I'm sitting on the fence for now
  • #10,984
  • May 13, 2015 2:40am May 13, 2015 2:40am
Quoting alexpi
Hey everyone, busy two days, busy for the market too it seems Glad to see you're back Mpt Both GU and GJ went wild well beyond my expectations on the bull side so I'm sitting on the fence for now
where do you think it will move now. upside breakout>>>>>
  • #10,985
  • May 13, 2015 2:46am May 13, 2015 2:46am
Quoting ffmonry
{quote} where do you think it will move now. upside breakout>>>>>
As I wrote 4-5 days ago I was expecting a clean break of 556 on GU followed by a drop down 1.51/1.503/1.493/6, respective movements for GJ.

Now I'm not so sure what the market intends to do, price looks overextended, but price can look overextended for days/months/years and keep rising anyway... Hence, the fence
  • #10,986
  • May 13, 2015 3:32am May 13, 2015 3:32am
Be aware that this break over 188 may not be A break. It could still be THE break
  • #10,987
  • May 13, 2015 3:42am May 13, 2015 3:42am
Quoting Mpt
Be aware that this break over 188 may not be A break. It could still be THE break
Carney's speech and Inflation report will be ruling the week it seems! I'm still looking for fakeout signals/confirmations, but won't be trading for now
  • #10,988
  • May 13, 2015 3:51am May 13, 2015 3:51am
Quoting alexpi
{quote} Carney's speech and Inflation report will be ruling the week it seems! I'm still looking for fakeout signals/confirmations, but won't be trading for now
Cable is now over the monthly cloud top so it depends on whether it breaks now over 1.578
  • #10,989
  • Edited 4:27am May 13, 2015 4:04am | Edited 4:27am
yep, I sold off....still thinkin the usd is weak today but....the timing is my clue....

order for buying the euro at 1193...changed that to 1173
  • #10,990
  • May 13, 2015 4:32am May 13, 2015 4:32am
correction time?

been waiting for this lets see how it goes.
  • #10,991
  • May 13, 2015 4:47am May 13, 2015 4:47am
no definite number here but going to guess theres around 100-150 pips left in this pullback? Then im going to buy in again
  • #10,992
  • May 13, 2015 4:50am May 13, 2015 4:50am
dang raiders, we think the same....186.77
now, that euro.....it's doing the statue of liberty play.....standin still..... hopes nobody is watching till......BAHHAAAMMMMN up to 1333
  • #10,993
  • May 13, 2015 4:54am May 13, 2015 4:54am
didnt even want to take the first ride north because i wasnt sure where it would end. but im feeling good about this pullback. even better now that im not alone on the area im looking to get back in on.
  • #10,994
  • May 13, 2015 4:56am May 13, 2015 4:56am
also, EA just jumped on board for a long ride im hoping. serious pippage in this if it can break the upper end of the channel which is currently sitting around 1.41
  • #10,995
  • May 13, 2015 5:04am May 13, 2015 5:04am
Pah... talk about getting out at the wrong time..

I had a short position at 188.ish hanging over from yesterday. Thought I'd close it before the news so I didn't get stung.. and BOOOOM it drops like a brick.. 0 pips for me and a lil slap in the face....

Meh... Better safe than sorry. still hurts a little..
  • #10,996
  • May 13, 2015 5:05am May 13, 2015 5:05am
ea yes.....the action should go forward at 6:30 am New York.....they let all the boys have a chance today......could major reverse after today
  • #10,997
  • May 13, 2015 5:14am May 13, 2015 5:14am
Just need a pullback to 188 and no close above 188.2 on 15min and I'm in big time
  • #10,998
  • May 13, 2015 5:26am May 13, 2015 5:26am
Hi Guys,

Do any of you use Stochastic as an indicator? I'm trying to add to my trading tool box; at the moment I'm not using this actively to confirm my trades, but I am starting to watch it to see if I can spot patterns.

What I am seeing at the moment is a lot of downward pressure on the 1H time frame. could I take this as a possible sell off soon? or am I reading it wrong?
  • #10,999
  • Edited 6:12am May 13, 2015 5:58am | Edited 6:12am
The previous 24 hours was possibly a sideways correction in a rising wedge. It suggests a new high.
  • #11,000
  • May 13, 2015 6:21am May 13, 2015 6:21am
Quoting Mpt
The previous 24 hours was possibly a sideways correction in a rising wedge. It suggests a new high.

GBP/JPY Buy 188.70
GBP/JPY Sell 187.00


I'm covering both directions with stop orders, that way I'm right either way!

Hopefully as I get more confident, I will elongate my trades a little. for the moment, 100 safe pips is enough.

I was more so asking whether I was reading the indicator correctly?
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