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Dragon Riders GBP/JPY

  • #15,981
  • Apr 6, 2016 8:19am Apr 6, 2016 8:19am
Quoting Geppy
{quote} USD/JPY is hanging tight because there's a big barrier option at 110.00 that's being defended. Once that expires, look out below! Regardless, I don't know how anyone let's go of a short position in GBP/JPY the last few days. We've been waiting for this drop for nearly two weeks. It's just getting started, my friend

Lesson learnt Geppy , stick to trading plan . Held this thing for 2 weeks man , come on here and read the BOJ stuff and decided to sell cutting my profit by about 300 pips. what can you do , will re-enter next week on a spike, if this run away train allows.
  • #15,982
  • Apr 6, 2016 8:23am Apr 6, 2016 8:23am
Quoting maflip
UJ Decision soon? They better! Inverted shoulder on UJ broke. Probability of retest of the bottom head is high. From there trail the sucker. {image}
Inverted shoulder on UJ broke. Probability of retest of the bottom head is high. From there trail the sucker.
  • #15,983
  • Apr 6, 2016 8:27am Apr 6, 2016 8:27am
Quoting maflip
{quote} Inverted shoulder on UJ broke. Probability of retest of the bottom head is high. From there trail the sucker.
Problem with UJ it only makes 90 pips average daily range. So getting 20 pips at this break is already decent for this pair. It's not like GJ that moves 200 pips a day average.
  • #15,984
  • Apr 6, 2016 8:28am Apr 6, 2016 8:28am
  • #15,985
  • Apr 6, 2016 8:29am Apr 6, 2016 8:29am
Quoting Pip-Miner
Whats wrong bro?
  • #15,986
  • Apr 6, 2016 8:31am Apr 6, 2016 8:31am
Taking 14 pips for now got close to the bottom head. Yeah this is UJ, daily range is different so smaller pip targets. But watch the red line if that breaks wooohoooo
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  • #15,987
  • Apr 6, 2016 8:34am Apr 6, 2016 8:34am
Quoting maflip
{quote} Whats wrong bro?
was just looking at the dragon chart and worked out it has fallen 400 pips last 2 days after I sold it, all good im trading some other pairs to keep my mind of it
  • #15,988
  • Apr 6, 2016 8:39am Apr 6, 2016 8:39am
Quoting maflip
{quote} No no the bear trend still has not ended. I may have used the wrong words, just saying we might retrace a little then a follow thru later. I could be wrong. Thing is UJ is flat while GJ/GU is going down so something might be up.
Relax... I mentioned it was "counter trend trade" didnt i? its for smaller pips only. Not those few hundred pip marathon. Am done with it, and seriously I dont like holding positions too long (broker swap expensive, risk of gapping due to "sudden" weekend news, etc). What I meant is I think this bear leg is getting exhausted. Afterall, I definitely dont wanna short what I think may be support and rather wait for a nice RT if wanna open fresh short.

Having said that, you were right earlier about GJ. After I got up from nap, lol it went further south. But it's ok - more into stock indices actually

ps:

any idea where edmun and the others are? they dont seem to be posting much anymore in thread ;o
  • #15,989
  • Apr 6, 2016 8:40am Apr 6, 2016 8:40am
Quoting maflip
Taking 14 pips for now got close to the bottom head. Yeah this is UJ, daily range is different so smaller pip targets. But watch the red line if that breaks wooohoooo {image}
Still have UJ shorts... Just wish it could be faster there.
  • #15,990
  • Apr 6, 2016 8:43am Apr 6, 2016 8:43am
Quoting MaryAnne
{quote} Relax... I mentioned it was "counter trend trade" didnt i? its for smaller pips only. Not those few hundred pip marathon. Am done with it, and seriously I dont like holding positions too long (broker swap expensive, risk of gapping due to "sudden" weekend news, etc). What I meant is I think this bear leg is getting exhausted. Afterall, I definitely dont wanna short what I think may be support and rather wait for a nice RT if wanna open fresh short. Having said that, you were right earlier about GJ. After I got up from nap, lol it went further...
I don't know about edmund maybe he is re-optimizing his strategy.

Yeah it's getting a little bit quiet.
  • #15,991
  • Apr 6, 2016 8:45am Apr 6, 2016 8:45am
Quoting MaryAnne
{quote} Still have UJ shorts... Just wish it could be faster there.
After it hits the head tighten the trailing stop. Good job if you shorted it too.
  • #15,992
  • Apr 6, 2016 8:47am Apr 6, 2016 8:47am
Quoting maflip
{quote} After it hits the head tighten the trailing stop. Good job if you shorted it too.
thanks for advice and man, I miss reading Edmun's entries. Very interesting way to scalp, was gonna see if I could learn from him too
  • #15,993
  • Apr 6, 2016 8:50am Apr 6, 2016 8:50am
Quoting MaryAnne
{quote} thanks for advice and man, I miss reading Edmun's entries. Very interesting way to scalp, was gonna see if I could learn from him too
Oh edmund yohooo

Problem is he doesn't show his chart. His method is top secret.

As for mine everyone knows how to draw trend lines so no secret there.
  • #15,994
  • Apr 6, 2016 8:57am Apr 6, 2016 8:57am
Good morning everyone...
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  • #15,995
  • Apr 6, 2016 8:59am Apr 6, 2016 8:59am
Quoting Carneiro
Good morning everyone... {image}
Oh Geppy someone is long...

Good luck bro. Agressive entry but who knows.

  • #15,996
  • Apr 6, 2016 8:59am Apr 6, 2016 8:59am
Quoting maflip
{quote} Oh edmund yohooo Problem is he doesn't show his chart. His method is top secret. As for mine everyone knows how to draw trend lines so no secret there.
I think he was using this harmonics indicator or Wave indicator. I tried that harmonics indicator before... not too good. Usually it only prints "after the fact" and not when it is forming (if it is the same one I tried). And from what I know, there is no good free Elliott wave indicator... they all want $$$ ;(

For me I am testing the paradox system. I know GJ longs are counter trend here (big bad bear still main trend), but the founder/creator mentioned when it hits the BB (Idk what his settings tbh) there is usually a bounce to one of the 4 horsemen (ppl say its some kind of HMA). Again, it is only good for small pips 20- 40. Tbh that earlier long 155.55 hit one around 156.05 and then got rejected and dropped further. Unfortunately I was sleeping... and I was too greedy; if only i had set TP 20-40 pips as he suggested...

ps: I do not recommend anyone taking long on GJ here unless they jus wanna experiment or micro lots (like me). Then again, I am playing with "house money".

Long for scalps may be ok if your system says so. But dont expect huge 500 pips run UP for no reason thats all

Cheers, pogi bro ^^
  • #15,997
  • Apr 6, 2016 9:02am Apr 6, 2016 9:02am
Quoting MaryAnne
{quote} I think he was using this harmonics indicator or Wave indicator. I tried that harmonics indicator before... not too good. Usually it only prints "after the fact" and not when it is forming (if it is the same one I tried). And from what I know, there is no good free Elliott wave indicator... they all want $$$ ;( For me I am testing the paradox system. I know GJ longs are counter trend here (big bad bear still main trend), but the founder/creator mentioned when it hits the BB (Idk what his settings tbh) there is usually a bounce to one of...
Elliot works its just people forces to see Elliott waves even if it's not there.

It depends on who is looking at the waves. I use Elliot waves on my analysis too. If it's not there it's not there I don't force to make one.

"Cheers, pogi bro ^^" = Oh yeah this is so true literally hah hah
  • #15,998
  • Apr 6, 2016 9:12am Apr 6, 2016 9:12am
Quoting maflip
{quote} Elliot works its just people forces to see Elliott waves even if it's not there. It depends on who is looking at the waves. I use Elliot waves on my analysis too. If it's not there it's not there I don't force to make one. "Cheers, pogi bro ^^" = Oh yeah this is so true literally hah hah
But you are counting EW manually right? Not using some indicator? (I think u only use zigzag and not indicator to tell u whether its Wave 1 or something). Yes, agree with you EW is more of an art, and usually the EW guys have some kind of bias in the wave analysis. Like they say Wave 4 trough should not exceed(be lower) Wave 2 in an uptrend yet I have seen EW indicators doing that! Surprise.

See? I knew it! You had to be a pogi
  • #15,999
  • Apr 6, 2016 9:19am Apr 6, 2016 9:19am
Quoting MaryAnne
{quote} But you are counting EW manually right? Not using some indicator? (I think u only use zigzag and not indicator to tell u whether its Wave 1 or something). Yes, agree with you EW is more of an art, and usually the EW guys have some kind of bias in the wave analysis. Like they say Wave 4 trough should not exceed(be lower) Wave 2 in an uptrend yet I have seen EW indicators doing that! Surprise. See? I knew it! You had to be a pogi
Yes I count them manually most of the indicators out there don't work.
  • #16,000
  • Apr 6, 2016 9:22am Apr 6, 2016 9:22am
Oh wow look at the spike up on UJ.
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