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Dragon Riders GBP/JPY

  • #14,321
  • Jan 29, 2016 10:02am Jan 29, 2016 10:02am
Quoting Geppy
OK, gang. I just sent an email out to my blog's email list subscribers and going to get some rest. Great trading to everyone that caught some longs over the past ~30 hours when I originally recommended the trade. Hopefully we can find another awesome trade for next week.
time for long USD/CAD?
  • #14,322
  • Jan 29, 2016 10:10am Jan 29, 2016 10:10am
Quoting openyoureyes
{quote} time for long USD/CAD?
It's a trade I've got my eye on, but I don't feel like the setup is quite there yet. I want to see at least a couple more days of price action if not another full week. We could head lower yet.
check out my blog: forexmademillionaire dot com
  • #14,323
  • Jan 29, 2016 10:43am Jan 29, 2016 10:43am
Quoting Soros
{quote} very wise indeed!! problem is when you sit out and miss some really good entries.
Yep - i prefer losing out on good trades than losing money :-)

Anywayz got stopped out at 3 am gmt so on the side lines until monday
  • #14,324
  • Jan 29, 2016 10:55am Jan 29, 2016 10:55am
Thanks openyoureyes, I appreciate your input. Could you or someone else comment on this week specifically though? I definitely understand the risk of trading currency crosses (have been trading for 6 or 7 years), but mainly want input on how this week was, as far as difficulty of trading the G/J. For example, on a scale of 1 to 10, 10 being the most difficult. Basically I'm looking for opinions on how this week was compared to other weeks, from anyone who has a lot of G/J experience. Thanks!
  • #14,325
  • Jan 29, 2016 2:06pm Jan 29, 2016 2:06pm
Quoting openyoureyes
G/J is one of the hardest pairs to trade. (huge daily range) G/NZ is the hardest imho... (even larger daily range) G/U is easier, as it isn't a cross. You shouldn't trade crosses: trade G/U + U/J it is basically the same with G/J as you know.
It is a cross. A USD Cross
Fix up, trade sharp ...
  • #14,326
  • Jan 30, 2016 1:09pm Jan 30, 2016 1:09pm
Hi all, I've started a new thread for my blog's trade recommendations here: http://www.forexfactory.com/showthre...71#post8721971

Please join me if interested!

I'll also be publishing my weekly outlook tomorrow.
check out my blog: forexmademillionaire dot com
  • #14,327
  • Jan 30, 2016 6:56pm Jan 30, 2016 6:56pm
cool, that's a deal....I work better with more input, ya knows...!!!
  • #14,328
  • Jan 30, 2016 8:02pm Jan 30, 2016 8:02pm
Quoting Geppy
Hi all, I've started a new thread for my blog's trade recommendations here: http://www.forexfactory.com/showthre...71#post8721971 Please join me if interested! I'll also be publishing my weekly outlook tomorrow.
great job buddy, you really mean something when you say it. keep up the good work. Ill see you on the other side , also I just wanna mention that after analyzing the market I believe we are gong to have another up trend on G/J ,E/J and later with right entry on G/A. let me know your thoughts please.
  • #14,329
  • Feb 1, 2016 7:03am Feb 1, 2016 7:03am
Preparing to short at 174.70 when it gets there. If that fails, the next level is at 175.84.
Lost....
  • #14,330
  • Feb 1, 2016 7:21am Feb 1, 2016 7:21am
Ok - so currently out of market and I think i will stay that way until Cable shows it's hands. I prefer to have cable and USD/JPY move in same direction in order to trade Geppy.

So waiting until something happens......

I'm more bearish but i'm not married to it

I may wait until the week is over just to see what smart money is doing but lets see.
  • #14,331
  • Feb 1, 2016 12:53pm Feb 1, 2016 12:53pm
Quoting gespiri
Preparing to short at 174.70 when it gets there. If that fails, the next level is at 175.84.
thank you.....I was wondering if I could find a place to get short......right now I'm tall
  • #14,332
  • Feb 1, 2016 1:33pm Feb 1, 2016 1:33pm
Quoting Gbp/jpy
{quote} thank you.....I was wondering if I could find a place to get short......right now I'm tall
Actually, I have a short limit order on 175.15 which will hit the upper range line.

This move looks to me like wave A or wave 1 but I'm not sure yet until another week.
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Lost....
  • #14,333
  • Feb 1, 2016 3:09pm Feb 1, 2016 3:09pm
possible scenario on the daily...
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persistence and determination alone are omnipotent
  • #14,334
  • Feb 1, 2016 11:20pm Feb 1, 2016 11:20pm
seriously....OH, man o man....oh boy

there's one bump on the 15M slo sto.....waiting....gonna go more...I guess....I saw 173.58....cool.... .51 didn't hold, that's a biggy
  • #14,335
  • Feb 2, 2016 12:08am Feb 2, 2016 12:08am
Hey gespiri....I have a date with February 4.....it's a Gann thing.....looking for a major reversal then.....last year was feb 2nd....

maybe it will keep dropping for wave B to complete on that date....
  • #14,336
  • Feb 2, 2016 12:25am Feb 2, 2016 12:25am
Quoting Gbp/jpy
Hey gespiri....I have a date with February 4.....it's a Gann thing.....looking for a major reversal then.....last year was feb 2nd.... maybe it will keep dropping for wave B to complete on that date....
Hey GJ, I hope that date shows up all dolled up with with a six-pack! If this move does signal wave B, we're looking at what......169.50 for a 50% retracement? Or 170.77? Gotta watch these two levels......
Lost....
  • #14,337
  • Feb 2, 2016 1:45am Feb 2, 2016 1:45am
Quoting Big Bruv
Ok - so currently out of market and I think i will stay that way until Cable shows it's hands. I prefer to have cable and USD/JPY move in same direction in order to trade Geppy. So waiting until something happens...... I'm more bearish but i'm not married to it I may wait until the week is over just to see what smart money is doing but lets see.
After doing some further checks..I've decided to completely stay out of this as my bias is bearish so there is a probability that we get a bounce to 178 ish area over the next two months or so.

I only trade one way and as i already have money in the piggy bank there is no need to risk it. so I'll pop back in about a month or so time to see where we are.

Happy trading.

FYi- here is a possibility to make money on a long side but i don't think it will be a stratight forward ttrade. it will probably zig zag it's way upwards taking out timid longs and shorts on its way
  • #14,338
  • Feb 2, 2016 2:00am Feb 2, 2016 2:00am
Big Bruv, baby....you're smart....it's some kind of pivotal time right now.....in two weeks we might have a clue.....but I find this volatility readable....I'll pm ya with my wristwatch times for reversals ....if ya want....the main two are London Open system, trading the first three hours
  • #14,339
  • Edited 2:31am Feb 2, 2016 2:08am | Edited 2:31am
Quoting gespiri
{quote} Hey GJ, I hope that date shows up all dolled up with with a six-pack! If this move does signal wave B, we're looking at what......169.50 for a 50% retracement? Or 170.77? Gotta watch these two levels......
so you say it's an impulsive A B C....not a corrective...huh!....projection then at ....by eye....just a second...I'll go looky....dang....on the month I see wave Five started at the Monday high....175.00.....ok I know how to act....keeping your analysis in mind for sure

I'm seeing wave three down had a big A B C kinda extending.....in C....

A target.....friggin 160.00...157.21 has an unsquared candle....this will be a fun watch....

for alternation, wave 2 went 90% wave 4 not much....for a total of 150% when added to each other
  • #14,340
  • Feb 2, 2016 2:30am Feb 2, 2016 2:30am
Quoting Gbp/jpy
{quote} so you say it's an impulsive A B C....not a corrective...huh!....projection then at ....by eye....just a second...I'll go looky....dang....on the month I see wave Five started at the Monday high....175.00.....ok I know how to act....keeping your analysis in mind for sure I'm seeing wave three down had a big A B C kinda extending.....in C.... A target.....friggin 160.00...this will be a fun watch.... for alternation, wave 2 went 90% wave 4 not much....for a total of 150% when added to each other
You might be right that 175 was the start of wave 5 (A). I think I got my count wrong thinking that we are already in wave A corrective. If this is indeed the start of wave 5, then probably it will drop to the 160-156 level. I'll post a chart after work (in about 8 hours) so we can discuss this mega cycle.
Lost....
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