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Dragon Riders GBP/JPY

  • #13,541
  • Dec 9, 2015 8:59am Dec 9, 2015 8:59am
Quoting Hickson
Other half still running, not at the screen for a moment and then .... bastards ... {image}
Its profit taking, no responsive selling. G/U also rejected 1.5188/75 for now. Nonetheless a good trade, so dont bother imho. Call it a day.
  • #13,542
  • Dec 9, 2015 9:07am Dec 9, 2015 9:07am
Quoting Hickson
{quote} After that H1 close, the idea of shorting was far from obvious ...
This blue candle is where I normally would have with a tight tight stop.
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  • #13,543
  • Dec 9, 2015 9:11am Dec 9, 2015 9:11am
618 fib on recent down move rejected hard. although not ready to sell yet, but i believe we get another down move and will sell. Waiting to see the consolidation pattern before any move though.

GBPCHF not much discussed pair, but its in an ending diagonal pattern on the daily. optimum entry would be in the 1.4825 area before a bounce up to 1.56ish. This would be in line with 1 more move down in GJ (perhaps to 183.25/00??) before a bounce up.
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  • #13,544
  • Dec 9, 2015 9:30am Dec 9, 2015 9:30am
Quoting FX-Ray
{quote} Its profit taking, no responsive selling. G/U also rejected 1.5188/75 for now. Nonetheless a good trade, so dont bother imho. Call it a day.
Right, who cares. In a normal market that could have been a real runner, now s/o BE.
Fix up, trade sharp ...
  • #13,545
  • Dec 9, 2015 9:32am Dec 9, 2015 9:32am
Just doubled on 184.443 and 184.513 after being stopped out....AGAIN

Let's see if my gamle pays off or not
  • #13,546
  • Dec 9, 2015 10:03am Dec 9, 2015 10:03am
Anybody , Fresh short on GJ??
  • #13,547
  • Dec 9, 2015 10:08am Dec 9, 2015 10:08am
Nope, I'm out. Came back after lunch to see all my SIs hit. I'm out for the day
  • #13,548
  • Dec 9, 2015 10:14am Dec 9, 2015 10:14am
it was a sell since it touched 188.60 as far as mr elliott is concerned.
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  • #13,549
  • Edited 10:34am Dec 9, 2015 10:15am | Edited 10:34am
Quoting subbusuper
Anybody , Fresh short on GJ??
Hey, I'm selling daily highs or upmoves in the outside time of day...

so, outside timewise is sorta the same as outside P A wise ....wristwatch deally

daily range ya gotta be willing to wait a day or two....
  • #13,550
  • Dec 9, 2015 12:11pm Dec 9, 2015 12:11pm
Quoting subbusuper
Anybody , Fresh short on GJ??
Done for the day.....

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  • #13,551
  • Dec 9, 2015 12:16pm Dec 9, 2015 12:16pm
currently both GBPJPY and GBPCHF are about 100 pips away from strong rising trendlines
  • #13,552
  • Dec 9, 2015 1:20pm Dec 9, 2015 1:20pm
raiders....thank you ...sir

that's good information for me
  • #13,553
  • Dec 9, 2015 2:05pm Dec 9, 2015 2:05pm
longer term I believe price will bottom out at 175.00 area based on daily and weekly charts but that won't occur till early 2016. Along the way there will plenty of opportunities to make money long and short so it really doesn't matter if I'm wrong or right. As long as I don't buy the top or sell the bottom I will make money​
  • #13,554
  • Dec 9, 2015 2:14pm Dec 9, 2015 2:14pm
183.88/75 still holding and got rejected yesterday. Currently trading DP 184.50/40; next optimal target is 186.50/25 if 185.50/25 gets taken out. definitely short stops above yesterday's high. Currently prefer to trade long since the clean rejection of 183.88/75.
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  • #13,555
  • Dec 9, 2015 2:19pm Dec 9, 2015 2:19pm
Quoting FX-Ray
183.88/75 still holding and got rejected yesterday. Currently trading DP 184.50/40; next optimal target is 186.50/25 if 185.50/25 gets taken out. definitely short stops above yesterday's high. Currently prefer to trade long since the clean rejection of 183.88/75. {image}
Sad thing is, I also just bought again....except it's near the current top, I.e. the same price as before. Let's see how it plays out.My targets are the same as yours in terms of overall zones: Current target is 185.30/20, and I would also expect a possible scrape up to 185,50. Still, I don't think that zone will give without a fight, so we may even get a chance for scalpers to short there for a couple easy pips.Intraday max target at 187.10/00. If that gets hit, im profiting all positions, period.
Note: ForexFactory needs a better mobile platform. Typing is really difficult and inconvenient. Too many typos
  • #13,556
  • Dec 9, 2015 2:25pm Dec 9, 2015 2:25pm
Quoting FX-Ray
183.88/75 still holding and got rejected yesterday. Currently trading DP 184.50/40; next optimal target is 186.50/25 if 185.50/25 gets taken out. definitely short stops above yesterday's high. Currently prefer to trade long since the clean rejection of 183.88/75. {image}
Maybe tomorrow before London open, main reasons: Full of gaps at the Low, low liquidity, high spread.

Quoting Vermillion
{quote} Sad thing is, I also just bought again....except it's near the current top, I.e. the same price as before. Let's see how it plays out.My targets are the same as yours in terms of overall zones: Current target is 185.30/20, and I would also expect a possible scrape up to 185,50. Still, I don't think that zone will give without a fight, so we may even get a chance for scalpers to short there for a couple easy pips.Intraday max target at 187.10/00. If that gets hit, im profiting all positions, period. Note: ForexFactory needs a better mobile...
Do not torture yourself. The time of the day sucks for trading. It is really not worth it - just my view, maybe I am wrong and you pull out a nice trade, would not mind to see it happen
Fix up, trade sharp ...
  • #13,557
  • Edited 3:11pm Dec 9, 2015 2:35pm | Edited 3:11pm
plus, it's Wednesday......it's a historical thing

it's a historical buy two days in a row....

sorry Hickson.....down below there....

back in the carry trade days, Thursday and Friday morning were buy days...historically, not 100% of the time though....

edit no one dares to mention carrytrade these days....six years ago every thread in the world touted...the cry went out.....
THE CARRY TRADE IS DEAD.......but they make too much to really let that happen
  • #13,558
  • Dec 9, 2015 2:39pm Dec 9, 2015 2:39pm
Quoting Gbp/jpy
plus, it's Wednesday......it's a historical thing it's a historical buy two days in a row....
I honestly never understand anything you say. What can one make of such an information without any explanation? I mean, we are not trading planet cycles or something ... really confused a bit
Fix up, trade sharp ...
  • #13,559
  • Dec 9, 2015 3:09pm Dec 9, 2015 3:09pm
Quoting Vermillion
{quote} Sad thing is, I also just bought again....except it's near the current top, I.e. the same price as before. Let's see how it plays out.My targets are the same as yours in terms of overall zones: Current target is 185.30/20, and I would also expect a possible scrape up to 185,50. Still, I don't think that zone will give without a fight, so we may even get a chance for scalpers to short there for a couple easy pips.Intraday max target at 187.10/00. If that gets hit, im profiting all positions, period.Too many typos
Initial breach past the primary catalyst zone (184.60/50). Let's see if it's an actual resumption of the rise, or if this is just testing the current strength of the bears (currently in the "bearish" ichimoku cloud). All is going according to plan so far.

For the former, I'd say that oil is to blame for the wacky movements (damn you, USA & OPEC!), and some people were busy driving prices for profit without real fundamentals. For the latter, eh. Let it play out.

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My risk management is fine...at least better than the Lehman Brothers back in '08, at least.
  • #13,560
  • Edited 3:32pm Dec 9, 2015 3:18pm | Edited 3:32pm
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What may have happened to the GBP/JPY today.

Good old whiplash movements.
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