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Dragon Riders GBP/JPY

  • #11,181
  • Jun 11, 2015 7:33pm Jun 11, 2015 7:33pm
maybe I'm a fool, but I sold at 191.8 yesterday with SL at 192.2 and TP at 186.2. Why? Because I saw the potential of double top and all other indicators in the overbought area. I personally don't think GJ is ready for the upside break out yet. again... Maybe I'm a fool since I don't follow the trend....
  • #11,182
  • Jun 11, 2015 7:36pm Jun 11, 2015 7:36pm
Hi. I am just an accumulator of very small trades with a longer term upside bias. Your outlook makes sense to me, too.
  • #11,183
  • Jun 11, 2015 7:55pm Jun 11, 2015 7:55pm
Quoting zby1993
maybe I'm a fool, but I sold at 191.8 yesterday with SL at 192.2 and TP at 186.2. Why? Because I saw the potential of double top and all other indicators in the overbought area. I personally don't think GJ is ready for the upside break out yet. again... Maybe I'm a fool since I don't follow the trend....
Could work as well, depending on how much you are looking for. But TP 186.2, hmm... I think we see some upside again first, pressure upwards is still high even this time of the day, normally it would have retraced already IŽd think. Then again this pair has been whipsaw shit lately, so anything is possible
  • #11,184
  • Edited 11:27pm Jun 11, 2015 11:16pm | Edited 11:27pm
Tracking the last 5th wave on 5 min to a potential top.
It's more like an intraday long, then, a long term short.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM5 12Jun15.png Size: 56 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #11,185
  • Jun 11, 2015 11:34pm Jun 11, 2015 11:34pm
who pissed in kurodas cherrios? where did this drop come from lol
  • #11,186
  • Jun 11, 2015 11:36pm Jun 11, 2015 11:36pm
Just wanted to ask too, what happened? Didnt see anything news-wise.... Guess he just said again that he think the JPY should stop to devalue? (with no backup why of course) ?
  • #11,187
  • Jun 11, 2015 11:50pm Jun 11, 2015 11:50pm
Quoting geektrader
Just wanted to ask too, what happened? Didnt see anything news-wise.... Guess he just said again that he think the JPY should stop to devalue? (with no backup why of course) ?
was the germans talking about greece...go figure

they prob just wanted a better price to buy into


that completely killed the setup for me again. i dont like funny business when im putting my money on the line. going fishing to see if i can find something else to trade. if not early weekend
  • #11,188
  • Jun 11, 2015 11:53pm Jun 11, 2015 11:53pm
Price spiked down as soon as I last posted, seems always.
Breaking minor channel line is an indication that the larger trend is coming to an end, soon.
Now got a slightly better price going long intraday.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM5 12Jun15b.png Size: 58 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #11,189
  • Jun 11, 2015 11:59pm Jun 11, 2015 11:59pm
Blah, Greece is non-news, same story since weeks. Missed deadline, donŽt come nearer to each other, still goes on. In the end they wonŽt drop them anyway. So itŽs non-news.
  • #11,190
  • Jun 12, 2015 12:02am Jun 12, 2015 12:02am
Quoting zby1993
maybe I'm a fool, but I sold at 191.8 yesterday with SL at 192.2 and TP at 186.2. Why? Because I saw the potential of double top and all other indicators in the overbought area. I personally don't think GJ is ready for the upside break out yet. again... Maybe I'm a fool since I don't follow the trend....
Price has bounced back like I expected (double top), but I will still be cautious to see if it can break below daily pivot at 191.245 to ensure the validity of my current short setup. Anyways, I have just moved my SL to break even after this big drop. Don't think it will retrace, but you know... safety first
  • #11,191
  • Jun 12, 2015 5:55am Jun 12, 2015 5:55am
Hmm, so where does this thing go now? Made new high before, but still struggles to go up further....
  • #11,192
  • Jun 12, 2015 6:15am Jun 12, 2015 6:15am
Quoting geektrader
Hmm, so where does this thing go now? Made new high before, but still struggles to go up further....
Hello

Should go back to test 191.00 at some stage. Short towards that number.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1.png Size: 70 KB
You can be anything you want to be
  • #11,193
  • Jun 12, 2015 11:21am Jun 12, 2015 11:21am
This pair is a freak show, nothing less. I seriously hate it 50 pips spikes and more all the time the last days, no clear movement anymore like it used to be.... timed to bin that pair from the market, no one needs it Kill the dragon too!
  • #11,194
  • Jun 12, 2015 11:33am Jun 12, 2015 11:33am
Quoting geektrader
This pair is a freak show, nothing less. I seriously hate it 50 pips spikes and more all the time the last days, no clear movement anymore like it used to be.... timed to bin that pair from the market, no one needs it Kill the dragon too!
Yo man, go hunt a volatile pair to trade. Worst thing ever is flat market so I feel you completely. I tend to go look at a index or something trendy like coffee or oil. Diversify!
  • #11,195
  • Jun 12, 2015 8:31pm Jun 12, 2015 8:31pm
guys,
there is low volatity for this uptrend. Please aware.
  • #11,196
  • Jun 13, 2015 12:24pm Jun 13, 2015 12:24pm
yep, for no reason at all I sold 192.06......why didn't I wait for 192.50 I don't know.....
  • #11,197
  • Jun 14, 2015 9:46pm Jun 14, 2015 9:46pm
Quoting datdle
guys, there is low volatity for this uptrend. Please aware.
The volatility for the last 4 days is actually VERY high, not sure what you mean. We had moves of over 200 pips in a few minutes, that is usually not the case, even for this pair! So volatlity is actually high currently!
  • #11,198
  • Jun 14, 2015 10:29pm Jun 14, 2015 10:29pm
Quoting geektrader
{quote} The volatility for the last 4 days is actually VERY high, not sure what you mean. We had moves of over 200 pips in a few minutes, that is usually not the case, even for this pair! So volatlity is actually high currently!
exactly. THAT right there is the reason why im waiting for 1 last jump north before i even begin to look south.
  • #11,199
  • Jun 14, 2015 11:44pm Jun 14, 2015 11:44pm
I agree with datdle and Talzus. Haven't been able to make sense of the entry/exit points of GJ for 25 days now and I'm expecting even more senseless or jerky movements in the coming 2-3 months, hopefully will stabilize a bit when volume increase in early-to-mid September

Best of luck to everyone trading here! Take serious care
  • #11,200
  • Jun 15, 2015 8:06pm Jun 15, 2015 8:06pm
sooo....more up
193 and 193.5/4 if it gets funky 195.5/4
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