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Dragon Riders GBP/JPY

  • #13,981
  • Jan 12, 2016 2:29am Jan 12, 2016 2:29am
Taking a long on this rejection and gonna add if we see above 171 in next 30 mins
  • #13,982
  • Jan 12, 2016 2:42am Jan 12, 2016 2:42am
GJ...still not looking to long this pair and not looking to short either. no good data out of uk and nothing but risk off environment recently. wouldn't want to get caught in chop. any moves to the upside will most likely be temporary and present new shorting opportunities.

GU...looking for a good place to drop a short. UK no good data/US great data.....just need to find the right spot. might be right now if there wasnt news coming out in an hour. prob best to sit on hands and see if theres anything positive to build a trade around.

NU...went short a few hours ago. Asia mess/US great news...break of consolidation sitting pretty...

USDCHF....looking for another place to add a long....99 area looks inviting with a sl at 9850 or even 9875 if you want to take on even less risk....if it can get down there again
  • #13,983
  • Jan 12, 2016 3:36am Jan 12, 2016 3:36am
Quoting alexpi
Taking a long on this rejection and gonna add if we see above 171 in next 30 mins
Out at BE, not keen to stay in with those news

Add: Not gonna short either, UJ is against a support, if it doesn't break GJ probably won't either. Maybe a revisit of 169 will be a good opportunity to long
  • #13,984
  • Jan 12, 2016 6:22am Jan 12, 2016 6:22am
gespiri.......good to see a post here......156.xx huh !!! unsquared candle down there
  • #13,985
  • Jan 12, 2016 7:13am Jan 12, 2016 7:13am
Going to long after pullback.
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Energy, frequency and vibration.
  • #13,986
  • Jan 12, 2016 7:16am Jan 12, 2016 7:16am
Quoting Gbp/jpy
gespiri.......good to see a post here......156.xx huh !!! unsquared candle down there
Hey G/J....just laying back and observing what's been going on with this pair. I'm currently long from 169.55 but who know what'll happen today after Carney's yappin'.

In fact, the 50% retraction on the weekly is 157.33 but I put 156 there since this Fib level always tend to have spillage. I don't think we'll see the 61.8% level tested at 148.24 but you never know.

Keep up the good posts and applies to everyone on this thread!
Lost....
  • #13,987
  • Jan 12, 2016 11:18am Jan 12, 2016 11:18am
yeah....more shitty uk data....GBPCHF looking like its in a triangle consolidation...looking to add a short in the 1.454 area if it gets there :nerd:
  • #13,988
  • Jan 12, 2016 1:56pm Jan 12, 2016 1:56pm
Take a look at the GU monthly chart and then take a look at the GJ daily. Almost identical patterns. Drop, pullback to the 50 fib and then more down. IF the GU chart follows the same pattern as the GJ did, then expecting massive GU weakness is definitely in the cards.

To me GJ is at a level that I would normally be buying at. But because of the massive risk off environment and the horrible data that continues to come out of the UK i see no reason at all to bother buying any pounds. Furthermore, it is quite a ways from where its currently at, but 1.35 in GU looks completely doable. And the possibility of pushing beyond that is looking very very intersting to me. I dont trade monthly charts but its looking rather bad for the gbp
  • #13,989
  • Jan 12, 2016 2:00pm Jan 12, 2016 2:00pm
Quoting raiders
Take a look at the GU monthly chart and then take a look at the GJ daily. Almost identical patterns. Drop, pullback to the 50 fib and then more down. IF the GU chart follows the same pattern as the GJ did, then expecting massive GU weakness is definitely in the cards. To me GJ is at a level that I would normally be buying at. But because of the massive risk off environment and the horrible data that continues to come out of the UK i see no reason at all to bother buying any pounds. Furthermore, it is quite a ways from where its currently...
massive GU weakness has been in the cards for days and weeks already And yes, technically 1.35 does not really seem out of reach, especially with Cable being a risk on instrument.
Fix up, trade sharp ...
  • #13,990
  • Jan 12, 2016 3:24pm Jan 12, 2016 3:24pm
so...apparently iran has decided to seize 10 american sailors...cant see how this will be good for risk at all...lets see how this turns out
  • #13,991
  • Jan 12, 2016 7:53pm Jan 12, 2016 7:53pm
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If go up more ,not mine pips.
Exits == most important part of your strategy
  • #13,992
  • Jan 12, 2016 10:47pm Jan 12, 2016 10:47pm
risky long small lot.
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Exits == most important part of your strategy
  • #13,993
  • Jan 12, 2016 10:47pm Jan 12, 2016 10:47pm
I wonder if my sell at 171.07 will go anywhere.....
  • #13,994
  • Edited 11:10pm Jan 12, 2016 10:52pm | Edited 11:10pm
Quoting Gbp/jpy
I wonder if my sell at 171.07 will go anywhere.....
my long is risky and your short is risky also , long suppose be 6-7 hours ago and now GJ to me is ONLY look for long ,
why my long is risky ? becuz the risk:reward ratio is bad.
closed -10 pips max profit 9 pips .
Exits == most important part of your strategy
  • #13,995
  • Jan 12, 2016 11:23pm Jan 12, 2016 11:23pm
I'm long from 169.94 and 169.73, gonna add if price moves to 170.4 here and rejects
  • #13,996
  • Jan 12, 2016 11:29pm Jan 12, 2016 11:29pm
Quoting alexpi
I'm long from 169.94 and 169.73, gonna add if price moves to 170.4 here and rejects
Yes, that the good entry but that time is my sleeping time
Exits == most important part of your strategy
  • #13,997
  • Jan 13, 2016 1:00am Jan 13, 2016 1:00am
yes, at that time in the session I just short term it....39 pips max is all I ever see.....that's daily range system Tokyo's daily range
  • #13,998
  • Jan 13, 2016 3:22am Jan 13, 2016 3:22am
Quoting alexpi
I'm long from 169.94 and 169.73, gonna add if price moves to 170.4 here and rejects
This
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  • #13,999
  • Jan 13, 2016 3:40am Jan 13, 2016 3:40am
Quoting alexpi
{quote} This {image}
try hold your trade , this trade MAY BE is the big trend start -> 500++ pips, IF price continue up.
hard resistance at 171.62
Exits == most important part of your strategy
  • #14,000
  • Jan 13, 2016 3:49am Jan 13, 2016 3:49am
Quoting edmun1388
{quote} try hold your trade , this trade MAY BE is the big trend start -> 500++ pips, IF price continue up. hard resistance at 171.62
Thanks for the advice, I tend to rely on systematically taking partials and keeping BE SLs, don't like super long-term holding of single-direction trades. Personally I develop too much bias and end up missing opposite signals.

Edit: IMO a big trend in this case could bring us to and above 200 but that will take the whole year, too much can happen in the meantime to get tied down with a bullish bias.
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