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Dragon Riders GBP/JPY

  • #14,401
  • Edited 9:26pm Feb 8, 2016 9:33am | Edited 9:26pm
most excellent chart horizontal lines.....thanks

fading in buys at 215 pips off the prior low.....I always watch that 200 pip separator bit on a major turn....216 pips even better....at that 10:30 in a New York morning....oh yeah

oh well .....had to do the February 8 thing ya know.....
  • #14,402
  • Feb 8, 2016 3:53pm Feb 8, 2016 3:53pm
Quoting FX-Ray
USD/JPY: if JPY strenght continues @ 116.00 - mid-term target is 110.00 {image}
Hey FX-Ray 👍 Thanks for the insight on Usd/Jpy, do u have any DPs on this pair also will be glad if you can update us with your wonder GBP/JPY outlook ☺️ Thanks again
  • #14,403
  • Feb 8, 2016 9:57pm Feb 8, 2016 9:57pm
Nikkei is down 6%
  • #14,404
  • Feb 8, 2016 10:35pm Feb 8, 2016 10:35pm
Quoting FX-Ray
USD/JPY: if JPY strenght continues @ 116.00 - mid-term target is 110.00 {image}
Glad to see you around Ray
  • #14,405
  • Feb 9, 2016 12:24am Feb 9, 2016 12:24am
Quoting Gbp/jpy
yessirr....I trade every 30 minute mark of the London open....reversing at 3-5 minutes away from the exact mark....either before or after meaning 1:26.....then 2:03......2:27.....2:58.....then the biggy at 3:28 or 3:30 with a 6 pip stop loss......the 3:30 confirms it's self at 3:52.....by showing slow-down when moving well, say 22 pips.....or if not moving.....by not going negative.... It's London hitting the trades hard.....London moves the market the most....sometimes they have to let their buddy.....New York get in on the action.....that at 6:30...
Interesting strategy dragon rider may start trading this pair like them mean and volatile but from a high time frame . Have you had many successes using this methodology
  • #14,406
  • Feb 9, 2016 12:34am Feb 9, 2016 12:34am
Beautiful down trend wish noticed earlier
  • #14,407
  • Feb 9, 2016 2:23am Feb 9, 2016 2:23am
How's this for a wave 5 finish?: 157.15 which is 1.618 of wave 4

The bump we just experienced just hit the daily pivot of 166.86 and going down.....and I hope it keeps going down.
Lost....
  • #14,408
  • Feb 9, 2016 3:04am Feb 9, 2016 3:04am
im getting start of wave 5 on daily, oversold on h4, this looks like a reversal coming to me watch out
  • #14,409
  • Feb 9, 2016 3:10am Feb 9, 2016 3:10am
tp1 166.95 , tp2 167.73 then drop hard again , just prediction . or may drop hard from 166.95 who know
Exits == most important part of your strategy
  • #14,410
  • Feb 9, 2016 6:44am Feb 9, 2016 6:44am
My TP is just a little above that orange line. Anyone else waiting for the bottom? Unless the Dailey shows me a reversal.
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  • #14,411
  • Feb 9, 2016 7:33am Feb 9, 2016 7:33am
Been holding our position since last Thursday. Looking for 160.00 or 158.00 level to be hit.
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  • #14,412
  • Feb 9, 2016 7:42am Feb 9, 2016 7:42am
Quoting Pixie666
{quote} Hey FX-Ray 👍 Thanks for the insight on Usd/Jpy, do u have any DPs on this pair also will be glad if you can update us with your wonder GBP/JPY outlook ☺️ Thanks again
G/J am paying close attention to 164, if you check the daily chart you will see its a major DP last time printed 4th February'14. Got rejected 20th January'16, 15 days ago. Since U/J and G/J correlating atm and lets say U/J will print 110 probably (see recent post) we could see a break of 164. U/J maybe the catalyst here.

Now looking at it the other way around, if 164 holds and GBP strenght kicks in we may not see U/J print 110 and may trigger a long before its ever get printed, this trade is based on G/J then, not based on the market structure of U/J.

Quoting alexpi
{quote} Glad to see you around Ray
Thanks buddy, same to you. Hope you're doing well
  • #14,413
  • Feb 9, 2016 7:54am Feb 9, 2016 7:54am
Quoting FX-Ray
{quote} G/J am paying close attention to 164, if you check the daily chart you will see its a major DP last time printed 4th February'14. Got rejected 20th January'16, 15 days ago. Since U/J and G/J correlating atm and lets say U/J will print 110 probably (see recent post) we could see a break of 164. U/J maybe the catalyst here. Now looking at it the other way around, if 164 holds and GBP strenght kicks in we may not see U/J print 110 and may trigger a long before its ever get printed, this trade is based on G/J then, not based on the market structure...
🙏 Thanks for the insight, will keep a watch U/J n equites, 👍 Your inputs r always welcome 🤓
  • #14,414
  • Feb 9, 2016 8:25am Feb 9, 2016 8:25am
Quoting edmun1388
tp1 166.95 , tp2 167.73 then drop hard again , just prediction . or may drop hard from 166.95 who know
closed +198 pips .nice drop a.
Exits == most important part of your strategy
  • #14,415
  • Feb 9, 2016 9:27am Feb 9, 2016 9:27am
G/U: 1.4425
U/J: 115.25
G/J: 166.30

According to my stats, long prefered if all above mentioned prices, short prefered if all three below.
  • #14,416
  • Feb 9, 2016 9:51am Feb 9, 2016 9:51am
Quoting Pip-Miner
{quote} Interesting strategy dragon rider may start trading this pair like them mean and volatile but from a high time frame . Have you had many successes using this methodology
play it with a 333 sma on a 15M chart and sell the third push on a 34,3,3 slo sto.....buy when oversold second bump.....

notice it's reversing off the 5M chart now...you know...when the price hits the sma line....it stays 22 minutes and outta there....
so I watch the 5M too !


hey that 22 minute thing....they seem to use time in 22 minute blocks......then comes 2 hours....two hour blocks
  • #14,417
  • Edited 10:11am Feb 9, 2016 10:00am | Edited 10:11am
the bank stock crisis is worsening......all are tanking....Bloomberg says yikes!!

the banks are not going to blow up but they can't seem to make much profit.....so it's not like last time where they'll need a bailout....probably wouldn't get public approval this time, huh!!!
  • #14,418
  • Feb 9, 2016 10:26am Feb 9, 2016 10:26am
Quoting FX-Ray
{quote} G/J am paying close attention to 164, if you check the daily chart you will see its a major DP last time printed 4th February'14. Got rejected 20th January'16, 15 days ago. Since U/J and G/J correlating atm and lets say U/J will print 110 probably (see recent post) we could see a break of 164. U/J maybe the catalyst here. Now looking at it the other way around, if 164 holds and GBP strenght kicks in we may not see U/J print 110 and may trigger a long before its ever get printed, this trade is based on G/J then, not based on the market structure...
Not too good lately, tough start of the year - couldn't make much sense of the market in January and hence had a lot of bad trades. One case where sitting out would have been the best strategy!
  • #14,419
  • Feb 9, 2016 6:33pm Feb 9, 2016 6:33pm
Closed out my short for only a third of the profit I could have had earlier, an longed. Maybe regretting it now, we'll see.
  • #14,420
  • Feb 9, 2016 7:00pm Feb 9, 2016 7:00pm
Opened up a counter short. To cover some loss of this keeps dropping to my S/O
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