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Dragon Riders GBP/JPY

  • #15,361
  • Mar 22, 2016 5:39am Mar 22, 2016 5:39am
GU breakeven +5 now. Almost there.
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  • #15,362
  • Mar 22, 2016 5:40am Mar 22, 2016 5:40am
Quoting Geppy
Still holding my shorts from 161.40. Yesterday was boring, but looks like everything is developing nicely today. I don't know how you guys do it... stress all the time on these small time frames, jumping in and out of positions constantly. There's a better way, kiddos. Move to the higher time frames and take a more methodical approach.
It's preference friend. For me I'm an intraday swing trader (used to be 1 min scalper) 1 to 2 trades a day I don't think is stressful. Besides, I got nothing else to do but watch the market all day. If I don't do this I'm gonna get hella bored with my life. I do this for a living.
  • #15,363
  • Edited 6:28am Mar 22, 2016 6:17am | Edited 6:28am
Quoting maflip
GU breakeven +5 now. Almost there. {image}
GU Target hit. I didn't play GJ because it's dancing around strong support. But if they break that it could be big. But it's ok, there is always a tomorrow.

And remember pips is not important it's the consistency. If you are consistent then the pips will follow.
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  • #15,364
  • Mar 22, 2016 6:34am Mar 22, 2016 6:34am
yes, the PA seems too risky near strong support area:

GU is breaking bot but GJ isn't moving.

take care shorts, this may skyrocket
  • #15,365
  • Mar 22, 2016 9:43am Mar 22, 2016 9:43am
Hmmm....GU looking like it wants to bounce and make a right shoulder on the hourly and UJ looks like its got a little more up in it before it drops again. GJ might be a little rocky
  • #15,366
  • Mar 22, 2016 1:00pm Mar 22, 2016 1:00pm
no change still holding ,my price average is well above 161, targeting much lower, spikes are expected and welcome as part of the journey.
  • #15,367
  • Mar 22, 2016 2:43pm Mar 22, 2016 2:43pm
Quoting Pip-Miner
no change still holding ,my price average is well above 161, targeting much lower, spikes are expected and welcome as part of the journey.
It could even be a good level to add more shorts.
  • #15,368
  • Mar 22, 2016 3:12pm Mar 22, 2016 3:12pm
Quoting PeteHFX
{quote} It could even be a good level to add more shorts.
Well, a reversal down is due in 3 hours of size 80-100 pips , looking at my predictive modal but as always follow price action for confirmation. I already have too many positions open in this pair and won't be adding.
  • #15,369
  • Mar 22, 2016 4:22pm Mar 22, 2016 4:22pm
JPY currently strongest pair, this could easily collapse lol
  • #15,370
  • Mar 22, 2016 5:28pm Mar 22, 2016 5:28pm
Quoting Pip-Miner
{quote} Well, a reversal down is due in 3 hours of size 80-100 pips , looking at my predictive modal but as always follow price action for confirmation. I already have too many positions open in this pair and won't be adding.
would not mind seeing 160....if it gets there im thinking it might be a good place to add
  • #15,371
  • Mar 22, 2016 5:52pm Mar 22, 2016 5:52pm
maybe 154.65.....that's just an unsquared candle......
  • #15,372
  • Mar 22, 2016 5:55pm Mar 22, 2016 5:55pm
I'm thinking longer term. Down to 147
  • #15,373
  • Mar 22, 2016 5:55pm Mar 22, 2016 5:55pm
Quoting maflip
{quote} It's preference friend. For me I'm an intraday swing trader (used to be 1 min scalper) 1 to 2 trades a day I don't think is stressful. Besides, I got nothing else to do but watch the market all day. If I don't do this I'm gonna get hella bored with my life. I do this for a living.
yep. short term mainly in a fast market like these days..but a little margin for mid term trades....I get bored when the market won't move.....like for three days....
  • #15,374
  • Mar 22, 2016 6:08pm Mar 22, 2016 6:08pm
Quoting PeteHFX
I'm thinking longer term. Down to 147
I think someone around here has said that before... *cough* *cough*
check out my blog: forexmademillionaire dot com
  • #15,375
  • Mar 22, 2016 6:17pm Mar 22, 2016 6:17pm
Quoting Gbp/jpy
{quote} yep. short term mainly in a fast market like these days..but a little margin for mid term trades....I get bored when the market won't move.....like for three days....
hear you lad, itchy fingers. Looks like the bears are in control , going down slower then expected but still acceptable for Asian session.
  • #15,376
  • Edited 6:44pm Mar 22, 2016 6:20pm | Edited 6:44pm
Quoting Geppy
{quote} I think someone around here has said that before... *cough* *cough*
As have many GBP/JPY forecasts since the start of the year...

ie: this one from January and practically every daily outlook since.

http://www.actionforex.com/action-in...0160122256661/

"Based on the current momentum, the correction would likely extend to 61.8% retracement at 147.01 before completion."

But feel free to toot your own horn. Toot toot!
  • #15,377
  • Mar 22, 2016 6:55pm Mar 22, 2016 6:55pm
Quoting Geppy
{quote} I think someone around here has said that before... *cough* *cough*
youve got your eye on 147? truth be told i havent even looked further than 153.5 but 147/148.5 makes sense
  • #15,378
  • Mar 22, 2016 7:06pm Mar 22, 2016 7:06pm
Quoting raiders
{quote} youve got your eye on 147? truth be told i havent even looked further than 153.5 but 147/148.5 makes sense
155 is my first target, expecting a large reversal at that point which will be shorted to 147.5 - no influencing factors just straight off the charts
  • #15,379
  • Mar 22, 2016 7:13pm Mar 22, 2016 7:13pm
Quoting Pip-Miner
{quote} 155 is my first target, expecting a large reversal at that point which will be shorted to 147.5 - no influencing factors just straight off the charts
beacause of the previous low? the 1.618 fib extension is sitting at 153.5 from the high on 3/11. Thats why my target is there. but 157 is where im gonna get defensive with my positions
  • #15,380
  • Edited 11:07pm Mar 22, 2016 7:25pm | Edited 11:07pm
Quoting Pip-Miner
{quote} 155 is my first target, expecting a large reversal at that point which will be shorted to 147.5 - no influencing factors just straight off the charts
In a shorter term view, i'm inclined to agree. Potential reversal should the move in Sept/October 2013 from 154-155ish to 159-160ish decide to repeat itself prior to 147. Then agin... anything can happen
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