Dragon Riders GBP/JPY | Page 618 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/JPY

Similar Threads

Enter The Dragon - GBP/JPY 2 replies

Info on the Borihei-Dragon Scalping System? 15 replies

The Dragon 441 replies

Scalping The Dragon 34 replies

***Dragon II*** 15 replies

Attachments: Dragon Riders GBP/JPY
Exit Attachments

Dragon Riders GBP/JPY

  • #12,341
  • Oct 29, 2015 10:04pm Oct 29, 2015 10:04pm
It appears institutions are already tiptoeing out the door on their long positions. No announcement yet.
Be humble or be humbled.
  • #12,342
  • Oct 29, 2015 10:24pm Oct 29, 2015 10:24pm
NO CHANGE. The pair is COOKED.
Be humble or be humbled.
  • #12,343
  • Oct 29, 2015 10:35pm Oct 29, 2015 10:35pm
not sure if its cooked since the gbp is still fundamentally a stronger pair.

either way doesnt seem to currently be any followthrough on the initial move and we came ohh so close to that short term rising trendline. looks like i might catch a ride on the long train
  • #12,344
  • Oct 29, 2015 10:36pm Oct 29, 2015 10:36pm
Quoting Temujin
NO CHANGE. The pair is COOKED.
Beware confirmation bias.
  • #12,345
  • Oct 29, 2015 10:42pm Oct 29, 2015 10:42pm
No matter what this pair does tonight given that the BOE is not going to raise rates anytime soon AND the BOJ is not going to stimulate further I see nothing holding this pair afloat except it's correlation with the S&P. Well, there is still the press conference in a few hours but with what we know so far a rate of 184 is absurdly high.
Be humble or be humbled.
  • #12,346
  • Oct 29, 2015 10:46pm Oct 29, 2015 10:46pm
that 1 hour bar might just turn into a monster pin
  • #12,347
  • Oct 29, 2015 11:03pm Oct 29, 2015 11:03pm
What time is the BoJ Press Conference? How many minutes or hours more from now ya?
  • #12,348
  • Oct 29, 2015 11:31pm Oct 29, 2015 11:31pm
Quoting Invincibl3
What time is the BoJ Press Conference? How many minutes or hours more from now ya?
maybe right now lol
  • #12,349
  • Oct 29, 2015 11:39pm Oct 29, 2015 11:39pm
Quoting Temujin
No matter what this pair does tonight given that the BOE is not going to raise rates anytime soon AND the BOJ is not going to stimulate further I see nothing holding this pair afloat except it's correlation with the S&P. Well, there is still the press conference in a few hours but with what we know so far a rate of 184 is absurdly high.
Why do you want to make it so complicated ? Just look at the price action and the patterns its making at the bottom ..its been a buy all the way ..its just my view
  • #12,350
  • Oct 30, 2015 12:06am Oct 30, 2015 12:06am
that pin bar is the banker types grabbing that level one quick spike and bamm.....they got all their unfilled orders squared-up b this time.....since that last move outta there was too fast.....184.45
  • #12,351
  • Oct 30, 2015 12:37am Oct 30, 2015 12:37am
Ray I like your Daily Charts with your level's in gray, nice addition, appreciated
the market can remain irrational longer than you can remain solvent
  • #12,352
  • Oct 30, 2015 12:48am Oct 30, 2015 12:48am
well were currently still in that consolidation pattern. until we break one way or another we wont know where its going. but im leaning up
  • #12,353
  • Edited 3:24am Oct 30, 2015 2:55am | Edited 3:24am
Morning all!
This is my view right now.
I might consider selling the e/u if the price goes under the red doted line. Target under 1.09 and stops above 1.103 . Any close above vertical red line will send me into an early weekend.
Good luck all and have fun!

Lol sorry all xD
  • #12,354
  • Edited 3:36am Oct 30, 2015 3:08am | Edited 3:36am
Quoting BooG
Morning all! This is my view right now. I might consider selling the e/u if the price goes under the red doted line. Target under 1.09 and stops above 1.103 . Any close above vertical red line will send me into an early weekend. Good luck all and have fun! {image}
BooG this is the GBPJPY thread
  • #12,355
  • Oct 30, 2015 5:03am Oct 30, 2015 5:03am
as long as 184.375/25 holds I dont see any downside potential yet
  • #12,356
  • Oct 30, 2015 7:30am Oct 30, 2015 7:30am
There was a "mysterious (and massive) JPY seller" after the news conference. I have no doubt it was the BOJ itself because on over 100 occasions in the past when the Nikkei was going to close in the red they stepped in and bought. They also now own over half of Japanese ETF's. The BOJ has become an overt market manipulator that far exceeds just monetary policy direction. They are also controlling the market direction on any unfavorable news.

http://www.zerohedge.com/news/2015-1...licy-unchanged


I closed at break even and will look for shorts after the new year. The stock market will be kept afloat and GJ along with it until then. I won't be a buyer though. Better to buy something that is actually going up rather than something that is being rescued from going down. When they won't step in to save it down it goes.
Be humble or be humbled.
  • #12,357
  • Oct 30, 2015 7:46am Oct 30, 2015 7:46am
Quoting Temujin
There was a "mysterious (and massive) JPY seller" after the news conference. I have no doubt it was the BOJ itself because on over 100 occasions in the past when the Nikkei was going to close in the red they stepped in and bought. They also now own over half of Japanese ETF's. The BOJ has become an overt market manipulator that far exceeds just monetary policy direction. They are also controlling the market direction on any unfavorable news. http://www.zerohedge.com/news/2015-1...licy-unchanged...
I agree that after 2-3 months to 6-7 months we could see some major selling. Before that, I'm looking for 192.3 and if there's no reaction down upon touching there either a break above 197.4 for a bull trap or a "mission" for 211.4...

Add: The article is bull though
  • #12,358
  • Oct 30, 2015 7:59am Oct 30, 2015 7:59am
Quoting Temujin
There was a "mysterious (and massive) JPY seller" after the news conference. I have no doubt it was the BOJ itself because on over 100 occasions in the past when the Nikkei was going to close in the red they stepped in and bought. They also now own over half of Japanese ETF's. The BOJ has become an overt market manipulator that far exceeds just monetary policy direction. They are also controlling the market direction on any unfavorable news. http://www.zerohedge.com/news/2015-1...licy-unchanged...
Hi Temujin,

those "mysterious (and massive) JPY seller buyers" weren't institutional orderflow, those were waiting at 184.375/250 the whole day, after news release and heavy short selling they got their orders filled in that area. Check yesterday's profile (pic). After that print we had ~150pip rally.
This trade was typical short squeeze trade done by professionals in direction of the current 'trend'. Lure & Slay.
Attached Image (click to enlarge)
Click to Enlarge Name: shortsqueeze.png Size: 61 KB
  • #12,359
  • Oct 30, 2015 8:04am Oct 30, 2015 8:04am
Quoting FX-Ray
{quote} Hi Temujin, those "mysterious (and massive) JPY seller buyers" weren't institutional orderflow, they were waiting at 184.375/250 the whole day, after news release and heavy short selling they got their orders filled in that area. Check yesterday's profile (pic). After that print we had ~150pip rally. This trade was typical short squeeze trade done by professionals in direction of the current 'trend'. {image}
Okay, thanks for the explanation. That must be it then.
Be humble or be humbled.
  • #12,360
  • Oct 30, 2015 8:06am Oct 30, 2015 8:06am
Quoting Temujin
{quote} Okay, thanks for the explanation. That must be it then.
The vote of 8-1 was expected. So since it was expected and occured like this, there were no change in sentiment. Now think orderflow wise, if sentiment unchanged + unjustified heavy selling (buying YEN) = demand (sell YEN) to get big orders filled @ low price because they cant just go market. (They would push market/price against them).

Just want to make my point clear: I disagree with ZH on this one. There is no mystery here if you actually understand that process.
88 traders viewing now