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Dragon Riders GBP/JPY

just went long right after it touches weekly support line at 192.9. There is chance for 190s, but there's also an obvious support at 191.96. My guess is that it'll keep ranging for awhile with a higher low higher than 191.96.
closed above my trendline on 1hr chart. worth a a small buy with a very tight sl
Just share my view. Trade it carefully. If it broke the trendline then need to re evaluate again.
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Quoting shivam332
That bulls scared shit out of me. I'm short with the target of 192.50... This is going too slow.... Any views on this pair? {image}
Finally hit
Money never sleeps I can hear the dollar calling me
I know im dead in the water until something pushes this back up.
Quoting Patternz
I know im dead in the water until something pushes this back up.
Same here, The JPY been screwing us, Im long on usdjpy(Since Tuesday), and I was unable to tend to my trades. I have ripple effect from both usd fomc minutes and jpy safehaven, so its really bad on usdjpy. Im letting this one sink into my account though, Hopefully NFP next week will be good data and both UJ and GJ will bounce, (about 121.4 and 190.3 respectively), I rather risk 45-50 pips again than close out on such a terrible position . Going into weekend with floating -275 pips ://////
Quoting Gupz
{quote} Same here, The JPY been screwing us, Im long on usdjpy(Since Tuesday), and I was unable to tend to my trades. I have ripple effect from both usd fomc minutes and jpy safehaven, so its really bad on usdjpy. Im letting this one sink into my account though, Hopefully NFP next week will be good data and both UJ and GJ will bounce, (about 121.4 and 190.3 respectively), I rather risk 45-50 pips again than close out on such a terrible position . Going into weekend with floating -275 pips ://////
It appears that downward conviction has diminished. This is what I want too - but still what I am seeing in this pair (USD/JPY being what I am watching, as this will essentially determine gbp/jpy).

I am holding long, despite being -ve also.
Quoting raiders
didnt buy. this can fall to the 190s

dude, look at monthly time frame. its ranging, this week was the top of the range. it bounced off 195, like its done many times recently, trendline broke, sell signal all the way.

I have no idea where its likely to end but my TP is around 191.xx ish. I've scaled out for the weekend will look for shorts next week.

Note, this is still a bullish pair so please be careful trading the shorts, the moves tend to be quick and the longs recover much slower.

Daily pivots are working well for me, the shorts tend to touch the 200sma before correcting if you catch a quick move..
Quoting Wingson
Just share my view. Trade it carefully. If it broke the trendline then need to re evaluate again. {image}

Agreed
Quoting shivam332
{quote} Finally hit

Congratz!!
Quoting Talzus
{quote} Congratz!!
Thank you sir.
Money never sleeps I can hear the dollar calling me
Quoting Gupz
{quote} Same here, The JPY been screwing us, Im long on usdjpy(Since Tuesday), and I was unable to tend to my trades. I have ripple effect from both usd fomc minutes and jpy safehaven, so its really bad on usdjpy. Im letting this one sink into my account though, Hopefully NFP next week will be good data and both UJ and GJ will bounce, (about 121.4 and 190.3 respectively), I rather risk 45-50 pips again than close out on such a terrible position . Going into weekend with floating -275 pips ://////

2 things!

One : I pointed this out last week that the bull push was over. don't trade what you 'expect' to happen, trade what the price action is telling you.

Two : 95% of retail traders fail because of poor money management... I don't know what that means to you, but -300 ish pips, unless you're using veeeery low leverage / lot sizes or you have a massive capital balance is A LOT to hold on a losing position!

do you pay swaps?

I don't like closing positions when at negative margin. I can tell you of a very aggressive recovery tactic if you need it, but sometimes it's better to just take the loss. 300 pip loss is better than 500, and you will need closer to 1000 pipa to recover the capital lost or increase your risk. Neither is a good place to be.

Please don't trade emotion and respect your money..

Ok, lecture over
Quoting Talzus
{quote} dude, look at monthly time frame. its ranging, this week was the top of the range. it bounced off 195, like its done many times recently, trendline broke, sell signal all the way. I have no idea where its likely to end but my TP is around 191.xx ish. I've scaled out for the weekend will look for shorts next week. Note, this is still a bullish pair so please be careful trading the shorts, the moves tend to be quick and the longs recover much slower. Daily pivots are working well for me, the shorts tend to touch the 200sma before correcting...
I agree man. Also, my lines have been pretty accurate recently and the last one standing is sitting at about 190.35 right now. Obviously as time goes the price on that line will rise.

note to self lol
My only losses this week have been that I havent stayed true to my lines/work and re-bought when price reentered structure. minimal loses or breakevens but still. once price closes below the lines its time to look south. STAY PATIENT!! TRUST YOUR WORK!!

Ill try to remember to post some charts before monday. Maybe get some feedback for yous guys. Maybe help a few guys. Who knows

Anyways, I also agree that this pair is nothing but bullish. Were just in a big ass consolidation phase right now. If you look most GBP pairs all have or had consolidation patterns. Bottom of it is near i believe.

Side note, also in consolidation is NJ. Sold it at 81.95 Holding for awhile. I think its dropping through the floor early next week hoping to get a few hundred off it. AJ jumped the gun on me today but look for lower AJ now that it has dropped through. Thank you China

​Today was exciting across the board. Big jumps in CAD pairs. Didnt expect them to happen that soon either. For those who care 133 and beyond i think is a good tp for UC.

Excited for next week. Looks like were finally getting some action in the market again.

Also, its been a long time since Rays been around, wish he would drop by but it is what it is. That said, many thanks on the numbers Ray. They're still on point.
Quoting Talzus
{quote} 2 things! One : I pointed this out last week that the bull push was over. don't trade what you 'expect' to happen, trade what the price action is telling you. Two : 95% of retail traders fail because of poor money management... I don't know what that means to you, but -300 ish pips, unless you're using veeeery low leverage / lot sizes or you have a massive capital balance is A LOT to hold on a losing position! do you pay swaps? I don't like closing positions when at negative margin. I can tell you of a very aggressive recovery tactic if...
I agree with you fully, and yes its a relatively small leverage. At the end of the day its a pretty sizable -ve float if you ask me, but Ive been trading without stops for a little while now, (of course small leverage), Im basically simulating a SL with a hedge position, but I didn't get time to place my hedge positions for this week. By the time I came around to check on what was happening, it was well passed my intended hedge positions/Stops. Didn't bother to tamper with it, gonna see what plays this week with nfp and all and then probably double leverage short. UJ showed some bulls just before market close, but then a strong bearish close. News showing that Greek drama is resuming, which would see a stronger yen ---> bearish, UJ approaching strong support at 121.6 --> possible bullish, S&P 500 ---> bearish, rate hike focus shifting to december---> bearish, sigghhhhh... gonna wait a bit to see what happens, I blame my lack of information and time this week for this shitty position
Quoting Talzus
{quote} 2 things! One : I pointed this out last week that the bull push was over. don't trade what you 'expect' to happen, trade what the price action is telling you. Two : 95% of retail traders fail because of poor money management... I don't know what that means to you, but -300 ish pips, unless you're using veeeery low leverage / lot sizes or you have a massive capital balance is A LOT to hold on a losing position! do you pay swaps? I don't like closing positions when at negative margin. I can tell you of a very aggressive recovery tactic if...
Oh and btw I know this the gbpjpy thread, but similar analysis for the GJ. I think Japanese yen is approaching oversold, and we may soon see a bounce on GJ, I dont thing we'd see as strong of a bounce on the UJ though, US weakening, lets hope nfp brings good news
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  • Edited Aug 22, 2015 10:25pm Aug 21, 2015 11:43pm | Edited Aug 22, 2015 10:25pm
what about my suspicions of a 189.77 deally....it's really simple
if we see that level, everyone's approved for an all out buy 'em up fast as ya can deal.... we still have a date with 202.xx or somewhere up there...
the big boys want that 189.xx.... I forget exactly...oh...189.43, but now that I look at it, it's not a fresh demand area, it's been hit once .....190.17 is a must do.( in actuality....190.03 ).....I'm buying there but looking for that lower also...
Quoting raiders
{quote} I agree man. Also, my lines have been pretty accurate recently and the last one standing is sitting at about 190.35 right now. Obviously as time goes the price on that line will rise. note to self lol My only losses this week have been that I havent stayed true to my lines/work and re-bought when price reentered structure. minimal loses or breakevens but still. once price closes below the lines its time to look south. STAY PATIENT!! TRUST YOUR WORK!! Ill try to remember to post some charts before monday. Maybe get some feedback for yous...
GJ Closed below my line on the 15M still not looking north although this trend line is a serious one

NJ doing as expected. Still more to go I believe. AJ doing the same. Thank you China
If we close at some point below the 50% retractment from the last biggest low swing on the dailey. I'm sure we will hit 189.xx or lower.
Fillin our socks, men!
Quoting Ksth
192 coming
now is 185 coming..
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