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Dragon Riders GBP/JPY

  • #15,641
  • Mar 31, 2016 12:01pm Mar 31, 2016 12:01pm
Quoting maflip
{quote} Yes consolidation now. I am bearish earlier because I anticipated a coming C wave if they break below A. Usually B comes up right at 50 - 62% retrace so I was bearish when it got to that area. We'll see as IT IS ranging now I can't deny that. NFP tomorrow anyway they can easily blow this pattern away afterwards. {image}
so I'm thinking red or green can both be the B
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  • #15,642
  • Mar 31, 2016 12:05pm Mar 31, 2016 12:05pm
Quoting raiders
{quote} so I'm thinking red or green can both be the B {image}
Correct when that happens you can straddle a trade. But the break up will be going against the bigger H1 pattern. However, if they break it up and it worked then it work as good traders we just go with the flow like water.

Too late in the day to play break out now though be careful.
  • #15,643
  • Mar 31, 2016 12:09pm Mar 31, 2016 12:09pm
Quoting maflip
{quote} Correct when that happens you can straddle a trade. But the break up will be going against the bigger H1 pattern. However, if they break it up and it worked then it work as good traders we just go with the flow like water.
yup thats the plan. already took an exploratory position and if it indeed becomes the green then i will add at the trend line and hope it is indeed b and not 4 lol
  • #15,644
  • Mar 31, 2016 12:10pm Mar 31, 2016 12:10pm
Quoting raiders
{quote} yup thats the plan. already took an exploratory position and if it indeed becomes the green then i will add at the trend line and hope it is indeed b and not 4 lol
ok lol
  • #15,645
  • Mar 31, 2016 9:12pm Mar 31, 2016 9:12pm
looking at 160.36 to exit and long
  • #15,646
  • Mar 31, 2016 9:31pm Mar 31, 2016 9:31pm
wave 4 down from channel top
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  • #15,647
  • Mar 31, 2016 11:55pm Mar 31, 2016 11:55pm
Quoting raiders
looking at 160.36 to exit and long


We are now at C. Keep an eye now for any strength full C target is not yet in but sometimes when its really strong it doesn't follow the rule and it only gets to half the target of C. But you played this one right. Maybe they hit the full C target before the NFP release.
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  • #15,648
  • Apr 1, 2016 12:29am Apr 1, 2016 12:29am
Quoting maflip
{quote} We are now at C. Keep an eye now for any strength full C target is not yet in but sometimes when its really strong it doesn't follow the rule and it only gets to half the target of C. But you played this one right. Maybe they hit the full C target before the NFP release. {image}
yeah man i got a really good entry earlier. I'm thinking this is now wave 4 pullback of the C so 5 will prob start at the open or maybe sooner. anyways, gbp news tonight also so I'm not sure it will get low enough to hit the target but who knows
I do see a potential big bull flag that developed through out the day so i think perhaps they are loading up for good news
  • #15,649
  • Apr 1, 2016 12:33am Apr 1, 2016 12:33am
Quoting raiders
{quote} yeah man i got a really good entry earlier. I'm thinking this is now wave 4 pullback of the C so 5 will prob start at the open or maybe sooner. anyways, gap news tonight also so I'm not sure it will get low enough to hit the target but who knows I do see a potential big bull flag that developed through out the day so i think perhaps they are loading up for good news
Yup I see that possible bull flag too. The best place to have placed that short for best risk reward is near that 62% retrace when it rally up yesterday.

Maybe they hit the full C target who knows.
  • #15,650
  • Apr 1, 2016 1:17am Apr 1, 2016 1:17am
You know it. Taking insurance at 100% then gonna trail the rest no target.

Trade is now insured. I just hope they break that upper trend line. It's either that or my trailing stop is hit.
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  • #15,651
  • Apr 1, 2016 1:41am Apr 1, 2016 1:41am
I'm in the wrong pair. GU is moving up much faster. GJ follow baby follow.
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  • #15,652
  • Apr 1, 2016 1:51am Apr 1, 2016 1:51am
Counter scenario would be they bring it down here from this 50% retrace I get out other half at no loss then it keeps going down further to complete the C wave target on H1.

So far they haven't hit my other half yet so still in long.
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  • #15,653
  • Apr 1, 2016 2:00am Apr 1, 2016 2:00am
Oh yeah baby keep on going.

Sorry if you think I'm turning this thread into my trading journal just let me know.

Also at 75% retrace. I call this area the last chance reversal.
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  • #15,654
  • Apr 1, 2016 2:20am Apr 1, 2016 2:20am
That might be it for my long play. The top trendline of the bullish flag held for now. I'm being greedy now since I'm already well fed this week. No more trade till after NFP.
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  • #15,655
  • Apr 1, 2016 2:49am Apr 1, 2016 2:49am
Quoting maflip
That might be it for my long play. The top trendline of the bullish flag held for now. I'm being greedy now since I'm already well fed this week. No more trade till after NFP. {image}
  • #15,656
  • Apr 1, 2016 2:57am Apr 1, 2016 2:57am
No more today trade for me too,
I traded for 16-17 hours straight yesterday...

unfortunately I fell asleep during CNY news, lost some pips because no SL/ no TP was set.


cheers
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  • #15,657
  • Apr 1, 2016 3:31am Apr 1, 2016 3:31am
Quoting openyoureyes
No more today trade for me too, I traded for 16-17 hours straight yesterday... unfortunately I fell asleep during CNY news, lost some pips because no SL/ no TP was set. cheers {image}
Oh man that's what you call hard core trader.
  • #15,658
  • Apr 1, 2016 3:53am Apr 1, 2016 3:53am
the g pairs all tanking , bad gbp news lol
  • #15,659
  • Apr 1, 2016 4:17am Apr 1, 2016 4:17am
Bullish divergence at NOT oversold area now == trend down continuation
Exits == most important part of your strategy
  • #15,660
  • Edited 5:49am Apr 1, 2016 5:38am | Edited 5:49am
long
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