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Dragon Riders GBP/JPY

  • #13,821
  • Jan 4, 2016 9:10am Jan 4, 2016 9:10am
Quoting Hickson
Almost knocked out of the remaining long ... funny gap with this broker - might be because they were closed on Friday. {image}
Haha, I'm pretty sure we have the same long, buy in price/stoploss wise.
  • #13,822
  • Jan 4, 2016 9:21am Jan 4, 2016 9:21am
Quoting gabe32
{quote} Haha, I'm pretty sure we have the same long, buy in price/stoploss wise.
Oh good, I am not totally insane to be the only buyer LOL
Fix up, trade sharp ...
  • #13,823
  • Jan 4, 2016 9:25am Jan 4, 2016 9:25am
Quoting Hickson
{quote} Oh good, I am not totally insane to be the only buyer LOL
Nope, so if we get stopped out we'll be insane together, haha.
  • #13,824
  • Jan 4, 2016 9:45am Jan 4, 2016 9:45am
Quoting Hickson
{quote} Oh good, I am not totally insane to be the only buyer LOL
Well you're not, am also long since the most recent print of 175

Add: dude you still cant wait, can you?
  • #13,825
  • Jan 4, 2016 9:47am Jan 4, 2016 9:47am
Quoting FX-Ray
{quote} Well you're not, am also long since the most recent print of 175
make that 3
  • #13,826
  • Jan 4, 2016 9:48am Jan 4, 2016 9:48am
Quoting FX-Ray
{quote} Well you're not, am also long since the most recent print of 175
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.jpeg Size: 114 KB
Fix up, trade sharp ...
  • #13,827
  • Jan 4, 2016 9:49am Jan 4, 2016 9:49am
Quoting Hickson
{quote} http://4.bp.blogspot.com/_wkgIzuqJM0...ATIC+POWER.jpg
sometimes I dont know if im lunatic or my environment
  • #13,828
  • Jan 4, 2016 9:51am Jan 4, 2016 9:51am
Quoting gabe32
{quote} Nope, so if we get stopped out we'll be insane together, haha.
Fix up, trade sharp ...
  • #13,829
  • Jan 4, 2016 9:52am Jan 4, 2016 9:52am
Quoting FX-Ray
{quote} Well you're not, am also long since the most recent print of 175 Add: dude you still cant wait, can you?
I think the main problem is not being unable to wait, but to know WHEN and for WHAT exactly. Matter of experience ...

Quoting FX-Ray
{quote} sometimes I dont know if im lunatic or my environment
I like what is said in the film "The Game": "Only the one who knows society knows the satisfaction to withdraw oneself from it."
Fix up, trade sharp ...
  • #13,830
  • Jan 4, 2016 9:57am Jan 4, 2016 9:57am
Quoting c-note
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​
this happened sooner than I anticipated and it is highly unlikely that 175 will be the low for the year. probability of a decent bounce from here is high but trend is down . I won't be surprised if 164 is tested further out
  • #13,831
  • Jan 4, 2016 10:11am Jan 4, 2016 10:11am
Quoting raiders
EU looking for 1.08 for a buy GU looking for 1.47 for a buy AJ im sitting on my hands for confirmation but Im looking for a sell. More unwinding of carry trades plus more down in gold and commodities.... GJ beats me...Im looking for JPY strength and short term USD weakness so ill be watching and waiting until the GBP gives some good news to work with
EU never got in
GU gave an initial bounce but went no where
AJ is looking great and im gonna go out on a limb and expect another strong jpy day tomorrow. Reason being is the chinese markets were shut down halting further loses. I cant even imagine the number of sell orders currently sitting out there. That said, more risk off....
GJ still waiting for decent news from uk and it just refuses to come....wouldnt be looking for anything but shorts
  • #13,832
  • Jan 4, 2016 10:19am Jan 4, 2016 10:19am
While from a macro fundamental point of view. JPY strength should keep driving this down. But the thecnical side says we should get a decent bounce from here.
  • #13,833
  • Edited 9:34pm Jan 4, 2016 10:36am | Edited 9:34pm
Macro is useless at the start of the year. Let the markets roll whever they want; we just have to pick up the pieces left over.

Problem is, I missed the buy-in price at 175 by sleeping, but I don't want to go long here at 175.60. the area around 176/175.60 might turn down and retest 175.

Staying flat and watching.

A lot of speculation about the fall in markets; some are pointing to the clusterfuck that the shanghai composite index (china) faced; it also coincides with the dismal news and rates for China that came around that time. Also saw a dip in Asian markets overall. But nothing too concrete. I'm cutting back on leverage and risk for the first week of 2016.

Fundamentaly speaking, the geppy's in a weird zone. JPY is slated to continue devaluing, but with the increase in risk for the GBP, and the announcement of Brexit referendum if I remember correctly, it'll be a contest to see which one of the two currencies is the lesser of two evils.

So gents, pick your poison. Anyone could make money on either positions by this point, IMO. Though to be fair, geppy's in a good zone for a potential movement up.
  • #13,834
  • Jan 4, 2016 10:43am Jan 4, 2016 10:43am
Quoting Vermillion
Macro is useless at the start of the year. Let the markets roll whever they want; we just have to pick up the pieces left over. Problem is, I missed the buy-in price at 175 by sleeping, but I don't want to go long here at 177.60. the area around 177/177.60 might turn down and retest 175. Staying flat and watching. A lot of speculation about the fall in markets; some are pointing to the clusterfuck that the shanghai composite index (china) faced; it also coincides with the dismal news and rates for China that came around that time. Also saw a dip...
I'm hedging my bets that it'll move up. As most of us are I believe.
  • #13,835
  • Edited 1:06pm Jan 4, 2016 10:47am | Edited 1:06pm
Quoting gabe32
{quote} I'm hedging my bets that it'll move up. As most of us are I believe.

Well, that's true. I've always iterated that the geppy is slated to go higher and higher (at least throughout 2016 and until 2017). Problem is, a lot of bullish tone for the sterling has lessened at the end of 2015, and with start-of-the-year volatility in tow, I wouldn't be surprised to see it dip in the short term.

Fundamentally speaking, you're absolutely right - but this is in terms of months and year+ (long term). Who knows what'll happen in the following day or week.

Edit: just launched a short at 175.60-ish, TP at 175, Sl......hard SL at 175.90. Possibly leaving earlier depending on market movement. If it doesn't dip below 175.50 by the end of New York session, I'm closing it. Last thing I want is to fiddle with end of the day spread volatility. Hell, I even saw a 50pip spread for the gbp/nzd just recently.

Update: Left the market at 175.80, 20 pip loss. Currently sitting on the sides waiting for the Tokyo session.
  • #13,836
  • Jan 4, 2016 11:50am Jan 4, 2016 11:50am
Quoting Vermillion
{quote} Well, that's true. I've always iterated that the geppy is slated to go higher and higher (at least throughout 2016 and until 2017). Problem is, a lot of bullish tone for the sterling has lessened at the end of 2015, and with start-of-the-year volatility in tow, I wouldn't be surprised to see it dip in the short term. Fundamentally speaking, you're absolutely right - but this is in terms of months and year+ (long term). Who knows what'll happen in the following day or week. Edit: just launched a short at 175.60-ish, TP at 175, Sl......hard...
Ahhh yeah, I don't trade based on years. I trade to achieve a set return+ some every month. Though while I used to agree with you about GBP raising for a couple years. With the brexit maybe in the works. Who knows what this year will bring.
  • #13,837
  • Jan 4, 2016 12:55pm Jan 4, 2016 12:55pm
Expecting a up trend. What are your thoughts?
Attached Image (click to enlarge)
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  • #13,838
  • Jan 4, 2016 12:58pm Jan 4, 2016 12:58pm
Quoting Pharaoh.fx
Expecting a up trend. What are your thoughts? {image}
I expect nothing, as usual

Edit: But yes, if not a bounce from here, where will it ever bounce? Not before another long, long drop I guess ...
Fix up, trade sharp ...
  • #13,839
  • Jan 4, 2016 1:31pm Jan 4, 2016 1:31pm
Happy New Year all, I too am long both AUD/JPY 85.50 & GBP/JPY 175.30
the market can remain irrational longer than you can remain solvent
  • #13,840
  • Jan 4, 2016 2:30pm Jan 4, 2016 2:30pm
Quoting Vermillion
{quote} Edit: just launched a short at 175.60-ish, TP at 175, Sl......hard SL at 175.90. Possibly leaving earlier depending on market movement. If it doesn't dip below 175.50 by the end of New York session, I'm closing it. Last thing I want is to fiddle with end of the day spread volatility. Hell, I even saw a 50pip spread for the gbp/nzd just recently. Update: Left the market at 175.80, 20 pip loss. Currently sitting on the sides waiting for the Tokyo session.
Same short started again, some price and stats.
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