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Dragon Riders GBP/JPY

  • #12,441
  • Nov 4, 2015 11:48am Nov 4, 2015 11:48am
Still selling here. Looking to buy at a better level of 185.20 if that holds.
Be humble or be humbled.
  • #12,442
  • Nov 4, 2015 12:12pm Nov 4, 2015 12:12pm
Quoting Hickson
{quote} Especially after the facts
Indeed, gotta love it but if those "Cramers" find resonance in public, then they deserve what they get. Get slayed.
  • #12,443
  • Nov 4, 2015 12:46pm Nov 4, 2015 12:46pm
Quoting FX-Ray
{quote} Indeed, gotta love it but if those "Cramers" find resonance in public, then they deserve what they get. Get slayed.
Haha! I remember it too. Some whispers going around Bear Sterns was not very sound financially sound and the stock experienced a some significant swoons here and there. If I recall it was around $62 and he quelled the rumors by advising people to buy. Goodness.

Anyway Tesla jumped 10%. Fed is looking accommodative. Rate hike is already mass media priced in, well it should be. USD/JPY break out to the upside? If so GBP/JPY with it on strong UK data the past couple weeks. Looking like it could be a pretty smooth break-out rally until the years end.

My only concern is the Japanese side of things and their new flexibility on the inflation target timeline.
Be humble or be humbled.
  • #12,444
  • Edited 1:38pm Nov 4, 2015 12:55pm | Edited 1:38pm
Quoting Temujin
{quote} Haha! I remember it too. Some whispers going around Bear Sterns was not very sound financially sound and the stock experienced a some significant swoons here and there. If I recall it was around $62 and he quelled the rumors by advising people to buy. Goodness. Anyway Tesla jumped 10%. Fed is looking accommodative. Rate hike is already mass media priced in, well it should be. USD/JPY break out to the upside? If so GBP/JPY with it on strong UK data the past couple weeks. Looking like it could be a pretty smooth break-out rally until the years...
Like the 'market' stays above me or any other trader, it also stands above cramers, guru's, secrets you name it, all the BS around. Thats why I respect Georg Slezak most amongst all successful traders, he really knows the is no certainty.

Market is its own entity. If you dont grasp that as trader, you are far behind those really try to understand the very core of 'market'.

Check my website at my profile. Paper is piece of gold.

"Confidence kills. Remember, you really don't know anything. Respect the market every
second of every day. Expect the unexpected. Always know your position and exit your trade
immediately whenever you feel uneasy."
  • #12,445
  • Nov 4, 2015 1:14pm Nov 4, 2015 1:14pm
Quoting FX-Ray
{quote} Indeed, gotta love it but if those "Cramers" find resonance in public, then they deserve what they get. Get slayed.
Or they make money out of people who know nothing about trading - which is even worse karma wise.
Fix up, trade sharp ...
  • #12,446
  • Nov 4, 2015 1:40pm Nov 4, 2015 1:40pm
Quoting Hickson
{quote} Or they make money out of people who know nothing about trading - which is even worse karma wise.
Its fraud, period. Why really try to trade if you can go the easy way of deception? Trading is challenging.
  • #12,447
  • Nov 4, 2015 1:55pm Nov 4, 2015 1:55pm
Quoting FX-Ray
{quote} Its fraud, period. Why really try to trade if you can go the easy way of deception? Trading is challenging.
As I said, this market is a natural habitat of all kinds of gurus, scammers and false goats. However, I do not fear it any more. I know enough about trading already to see who knows nothing and just wants to profit.
Fix up, trade sharp ...
  • #12,448
  • Edited 7:03pm Nov 4, 2015 5:16pm | Edited 7:03pm
Short GBPJPY , small target 10-35 pips.
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Result : Max draw : -7 Max Pips : 9 Exit : +1.7
Exits == most important part of your strategy
  • #12,449
  • Nov 4, 2015 7:01pm Nov 4, 2015 7:01pm
There looks to be a retrace coming. Sell from 186.90 is more than 24 hours old now. Becoming more profitable.

For Me David Einhorn hands down. Can take the financials of any public company and pick it apart piece by piece. Went toe to toe publicly with Erin Callan the former CFO of Lehman. Shorted the stock from the $60's until it collapsed. Started Green Light Capital in his basement with 900K and is a billionaire today. Won the Poker World Championship after he became a billionaire.
Be humble or be humbled.
  • #12,450
  • Nov 4, 2015 7:09pm Nov 4, 2015 7:09pm
Quoting Temujin
There looks to be a retrace coming. Sell from 186.90 is more than 24 hours old now. Becoming more profitable. For Me David Einhorn hands down. Can take the financials of any public company and pick it apart piece by piece. Went toe to toe publicly with Erin Callan the former CFO of Lehman. Shorted the stock from the $60's until it collapsed. Started Green Light Capital in his basement with 900K and is a billionaire today. Won the Poker World Championship after he became a billionaire.
Thx bro . I learning now.
Exits == most important part of your strategy
  • #12,451
  • Nov 4, 2015 8:22pm Nov 4, 2015 8:22pm
Quoting edmun1388
{quote} Thx bro . I learning now.
No problem, I know only a little. Too many weeks ahead of us until the years end to just keep going. Can retrace here to around 185 then blow out all the shorts in the next 7 weeks. Bad Blood said 192 for the ultimate top this year.
Be humble or be humbled.
  • #12,452
  • Nov 4, 2015 8:35pm Nov 4, 2015 8:35pm
yes, a nice short term sell sounds good....watch the crud out of 4:30 am in New York........if they dip it......maybe a lovely buy the hail of it could fit in there.
to explain just a little more....if ya see an outside moment....like for an hour and a half or just 22 minutes.....jump that buy button .....then, you can probably do the same thing tomorrow at 4 am New York time.... we're into November already...and it's finally Wednesday after a " turn-around Tuesday ".....he he.....up periscope.

.
oh...the outside means P A is out of it's recent bounds......
  • #12,453
  • Nov 4, 2015 8:49pm Nov 4, 2015 8:49pm
Just a few years ago even If a company was not going to be profitable for the next year it did not matter. You could not sell this market. The Fed injected 15 trillion into this economy and credit exploded with cheap money everywhere. This market is rising now in a totally different environment. Yes the Fed will be accommodative but the QE is over and done. Would it be normal for the market to see some significant correction before going higher as the economy stands on it's own without all this stimulus? Of course it would.

Japan is also concerning. The program is very well in place but no new stimulus anymore. Before Shinzo Abe USD/JPY was at 81. GBP/JPY was at around 130. Things get damn expensive for people with USD/JPY beyond 125. The Abe administration knows that it will become very unpopular to send the yen into complete oblivion. To me 192 will just be a lower high for GBP/JPY and we are in a greater scale downtrend.
Be humble or be humbled.
  • #12,454
  • Nov 4, 2015 8:49pm Nov 4, 2015 8:49pm
my buddy in Singapore posted this....Ian....he's a member here on FF....a small retrace possible then 5544 gbp/usd He says....elliotter

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  • #12,455
  • Nov 4, 2015 10:51pm Nov 4, 2015 10:51pm
On the 15 M....Tanken sen slam.... sell 186.84
  • #12,456
  • Nov 5, 2015 12:56am Nov 5, 2015 12:56am
Shorted the departure of 187.3/4. Keeping this tight, SL at 187.45 and looking for 186.6
  • #12,457
  • Nov 5, 2015 1:00am Nov 5, 2015 1:00am
Considering the recent spike to more than six week's high, together with BoE's 'Super Thursday', the pair is more likely to extend its up-move beyond 188.00 mark should the UK central bank sound hawkish.
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  • #12,458
  • Nov 5, 2015 2:03am Nov 5, 2015 2:03am
Quoting Fx_Anil
Considering the recent spike to more than six week's high, together with BoE's 'Super Thursday', the pair is more likely to extend its up-move beyond 188.00 mark should the UK central bank sound hawkish. {image}
Could be so, for now I'm out.

IMO during the past 9-10 hours GBP has been flat and hence GJ has taken on its usual perfect correlation with UJ.

We'll see where we are in 2 hours
  • #12,459
  • Nov 5, 2015 2:08am Nov 5, 2015 2:08am
next DP is 187.750/625
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  • #12,460
  • Edited 3:11am Nov 5, 2015 2:19am | Edited 3:11am
Quoting Fx_Anil
Considering the recent spike to more than six week's high, together with BoE's 'Super Thursday', the pair is more likely to extend its up-move beyond 188.00 mark should the UK central bank sound hawkish. {image}
I agree with you.
You showed us that there are three cycles and the current segment of the past two cycles had five consecutive blue (green on the below chart) candles so it can be expected so for the current segment of the current cycle.
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