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Dragon Riders GBP/JPY

  • #15,521
  • Mar 28, 2016 2:38pm Mar 28, 2016 2:38pm
Daily yields fresh demand made with a decent PA, stacked on top of demand also made with a decent PA.

Pieces of the puzzle...

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  • #15,522
  • Mar 28, 2016 3:38pm Mar 28, 2016 3:38pm
Another one that looks interesting to me and fits in with GU
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  • #15,523
  • Mar 28, 2016 6:50pm Mar 28, 2016 6:50pm
Ppl thinking to long, gu gj uj cadjpy chfjpy and eujpy take care my advice is to not. Be calm and listen slng 😁
Precise Execution!
  • #15,524
  • Mar 28, 2016 11:02pm Mar 28, 2016 11:02pm
I got nothing yet on GJ it still needs to go down a bit further to attract me to go long for today. But for GU it looks like an ABC bullish pattern is forming. Just waiting to break the upper trend line to confirm. But if price goes lower than 1.42 on GU I would scratch the pattern.
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  • #15,525
  • Mar 29, 2016 5:12am Mar 29, 2016 5:12am
Quoting maflip
I got nothing yet on GJ it still needs to go down a bit further to attract me to go long for today. But for GU it looks like an ABC bullish pattern is forming. Just waiting to break the upper trend line to confirm. But if price goes lower than 1.42 on GU I would scratch the pattern. {image}
6 hours later...

+50 and +30 on the trailing.

They hit my trailing stop before my final TP of 1.43177 on GU.

For GJ not bad as well longs made money there too.
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  • #15,526
  • Mar 29, 2016 5:19am Mar 29, 2016 5:19am
By the way... Why so quiet in here today?
  • #15,527
  • Mar 29, 2016 6:35am Mar 29, 2016 6:35am
7 AM PST breakout? I'll be watching for a fake out of line break to the upside then place a sell stop below the trend line. If I miss a trade and the market keeps going up it's cool I did not loose money no trade. Again, I first want them to fake out break the top line first. Let's see what happens.
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  • #15,528
  • Mar 29, 2016 6:39am Mar 29, 2016 6:39am
Quoting maflip
By the way... Why so quiet in here today?
Must be Easter holiday...
Let's add a comment to lessen the boredom...
I don't normally comment because I'm quite clueless.
My intention is to short at 162.98... why? (a) I think the big trend is still down (b) Some shorted last week at below 160 and hanging on...
(c) Too scared to go long as I was burnt many times going long.
But... chances are I will short at 162.42, due to (i) lack of patience, (ii) up trend seems to be weakening.
When in doubt, HEDGE
  • #15,529
  • Mar 29, 2016 6:40am Mar 29, 2016 6:40am
Quoting maflip
7 AM PST breakout? I'll be watching for a fake out of line break to the upside then place a sell stop below the trend line. If I miss a trade and the market keeps going up it's cool I did not loose money no trade. Again, I first want them to fake out break the top line first. Let's see what happens. {image}
Moments after I posted it they already broken the lower line first. No fun they broke the bottom line first. I want a fake out first it's higher probability. That's it dinner time for me. Done for today.
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  • #15,530
  • Mar 29, 2016 6:46am Mar 29, 2016 6:46am
Someone asked why I want to short now and then deleted his post. It's because Price is struggling to break R1 look at my chart and then a bearish head and shoulders pattern formed. For safest TP cover at 62% retracement at least half the position then trail the rest. But I did not take this short as I already made money on GU I first want a fake out then they bring it down. It's higher probability if they do that first. Besides I love trading fake outs.

See almost at 62% retrace if I have taken it. It would have been quick money.
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  • #15,531
  • Mar 29, 2016 7:24am Mar 29, 2016 7:24am
care bullish divergence if price close above
Exits == most important part of your strategy
  • #15,532
  • Mar 29, 2016 7:26am Mar 29, 2016 7:26am
Quoting edmun1388
care bullish divergence if price close above
Where have you been bro. Been quiet all day.
  • #15,533
  • Mar 29, 2016 7:32am Mar 29, 2016 7:32am
Quoting maflip
{quote} Where have you been bro. Been quiet all day.
Finalize all my strategy , will trade only >80% win rate strategy , today spot 3 divergence all win .Now wait the build up of bullish divergence.
if not , drop more.
* no bullish divergence now, so is drop drop drop ..hold short
Exits == most important part of your strategy
  • #15,534
  • Mar 29, 2016 7:50am Mar 29, 2016 7:50am
I closed short , long now , hidden divergence , hope win again.
** SL hited -15
Exits == most important part of your strategy
  • #15,535
  • Mar 29, 2016 8:00am Mar 29, 2016 8:00am
Quoting edmun1388
I closed short , long now , hidden divergence , hope win again. ** SL hited -15
Pat pat pat

M1 chart I presume?
  • #15,536
  • Mar 29, 2016 8:04am Mar 29, 2016 8:04am
Quoting maflip
{quote} Pat pat pat M1 chart I presume?
sudden spike down , my SL 15 pips gone
today got 5 divergence , i catch 3 win , this one fail hit stop loss 15 pips , I try catch small SL .
* now got small problem , H4 stochastic down and M30 stochastic oversold .
Exits == most important part of your strategy
  • #15,537
  • Mar 29, 2016 8:06am Mar 29, 2016 8:06am
Quoting edmun1388
{quote} sudden spike down , my SL 15 pips gone today got 5 divergence , i catch 3 win , this one fail hit stop loss 15 pips , I try catch small SL .
Careful of Yellen she's gonna yap soon. If she hints rate hike GU and GJ might go down hah hah.
  • #15,538
  • Mar 29, 2016 8:18am Mar 29, 2016 8:18am
you are making a good point. GJ could reverse @ 618%. Still would be a valid bearish shark setup not ideal though.
However RSI on H4 GJ does hint that we are topped out. You might as well be right!
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  • #15,539
  • Mar 29, 2016 8:20am Mar 29, 2016 8:20am
Quoting asgcorp
you are making a good point. GJ could reverse @ 618%. Still would be a valid bearish shark setup not ideal though. However RSI on H4 GJ does hint that we are topped out. You might as well be right! {image}
Well i'm not in a trade right now. Gotta set all technicals aside as the queen of the world is about to speak
  • #15,540
  • Mar 29, 2016 8:22am Mar 29, 2016 8:22am
Quoting maflip
{quote} Well i'm not in a trade right now. Gotta set all technicals aside as the queen of the world is about to speak
that's a fair point. I was watching a potential extension to 163 which is 786% and a more decent target, however currently tough call. It's either reversing now or @ 163-163.20 then we probably go for 155-156 on the next swing down. I'm also on sidelines for now.
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