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Dragon Riders GBP/JPY

  • #16,241
  • Apr 11, 2016 7:59am Apr 11, 2016 7:59am
couple of other things I've been working. anyone seeing this?
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  • #16,242
  • Apr 11, 2016 8:00am Apr 11, 2016 8:00am
Quoting alexpi
{quote} I wouldn't be surprised to see a break of the 155.3/4 as it will frenzy 2 parts of the market - heavy shorters at 154.5/6 and those with high shorts who got stopped out. Of course, will add to the fuel of bulls as well.
thats a very good point. I think the safest move for me will be for a break of the rising lower line. but ill be playing as i see it i guess
  • #16,243
  • Apr 11, 2016 8:14am Apr 11, 2016 8:14am
support turned resistance - testing a few times...
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  • #16,244
  • Apr 11, 2016 8:50am Apr 11, 2016 8:50am
Quoting albchr
{quote} Couple pips different due to feeds I'm sure. {image} Looking to see if we get a bounce here for adding/reloading. Daily chart. Somewhere at/near the 50% would be nice. {image}
Ghost Rider - WWTBMD?
  • #16,245
  • Apr 11, 2016 8:54am Apr 11, 2016 8:54am
Quoting raiders
{quote} thats a very good point. I think the safest move for me will be for a break of the rising lower line. but ill be playing as i see it i guess
Sounds like a good plan!

An alternative is a break upward at the rising upper line followed by a strong rejection (preferably same candle that breaks it cus that would open a TP below 153, second best is another strong up candle that rejects into the OC range of a previous candle). With the downtrend backup this trade would be nice as it sets up a short with clear SL and TP (~153). Points I'll be looking for rejects at are 154.6/7, 155.3/4, 156.1/2, 157.8/158.0. In the meantime I'm taking longs and hedging at each DP in case a reject happens.
  • #16,246
  • Apr 11, 2016 9:10am Apr 11, 2016 9:10am
Quoting alexpi
{quote} Sounds like a good plan! An alternative is a break upward at the rising upper line followed by a strong rejection (preferably same candle that breaks it cus that would open a TP below 153, second best is another strong up candle that rejects into the OC range of a previous candle). With the downtrend backup this trade would be nice as it sets up a short with clear SL and TP (~153). Points I'll be looking for rejects at are 154.6/7, 155.3/4, 156.1/2, 157.8/158.0. In the meantime I'm taking longs and hedging at each DP in case a reject happens....
very good ideas. I'm going to be looking for those things also. Things might get a little crazy shortly too so who knows. Theres some fed news dropping any minute now so it could give some nice whipsaw action right at the .7 level. if so that would be pretty close to perfect if it left a nice long wick to work with
  • #16,247
  • Apr 11, 2016 9:31am Apr 11, 2016 9:31am
Quoting Don96
support turned resistance - testing a few times... {image}
4hr closed 154.30, still bullish holding bounce from those levels I posted​
  • #16,248
  • Apr 11, 2016 9:43am Apr 11, 2016 9:43am
Quoting raiders
couple of other things I've been working. anyone seeing this? {image} {image}
AU ran a little from my initial target. but was to be expected...anyways if C holds which i don't see any reason why it shouldn't. Could be good to go. BTW that 7300 is just the safe target .7273-717 and even .704 if it gets wild with the US news later in the week
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  • #16,249
  • Apr 11, 2016 9:44am Apr 11, 2016 9:44am
Quoting Don96
{quote} 4hr closed 154.30, still bullish holding bounce from those levels I posted​
You should really have your charts on GMT time. It's pretty standard. Seems strange to me when you say a 4-hour candle is closing and it's 7:30am where I am.
check out my blog: forexmademillionaire dot com
  • #16,250
  • Apr 11, 2016 10:12am Apr 11, 2016 10:12am
Quoting Geppy
{quote} You should really have your charts on GMT time. It's pretty standard. Seems strange to me when you say a 4-hour candle is closing and it's 7:30am where I am.
Yeah 4hr closed at that point before I posted - I'm from UK why would I post in any other time ?
  • #16,251
  • Apr 11, 2016 10:17am Apr 11, 2016 10:17am
Quoting Geppy
{quote} You should really have your charts on GMT time. It's pretty standard. Seems strange to me when you say a 4-hour candle is closing and it's 7:30am where I am.
My bad I understand what you mean, my broker time is -2 from mine, closed at 2 o'clock UK time, which was after the close of the last 4h bar
I also said it closed, , not it's closing... nothing about closing at a half an hour
  • #16,252
  • Apr 11, 2016 10:59am Apr 11, 2016 10:59am
Quoting Don96
{quote} My bad I understand what you mean, my broker time is -2 from mine, closed at 2 o'clock UK time, which was after the close of the last 4h bar I also said it closed, , not it's closing... nothing about closing at a half an hour
I just assumed based on when you posted (half past the hour-ish) and "it's closed" that it had just closed at that point.

Mine would close in 2 hours. It's now 1 hour from closing.

The reason you would care about GMT is because most everyone looks at the GMT standarized chart because, well... it's standardized. So it doesn't matter where you are in the world.

If you're looking at a chart that has closes that are different than most everyone else, you're going to be seeing something very different than most everyone else. In other words, it makes what you're seeing on your charts much less significant.

You could think you're seeing a bullish engulfing candle when everyone else ends up seeing a bearish engulfing candle. Follow?
check out my blog: forexmademillionaire dot com
  • #16,253
  • Apr 11, 2016 11:03am Apr 11, 2016 11:03am
btw, I once had a broker that closed the daily candle at midnight my time... how weird is that?

I'm glad I didn't follow their charts for my analysis!
check out my blog: forexmademillionaire dot com
  • #16,254
  • Apr 11, 2016 11:06am Apr 11, 2016 11:06am
Quoting Geppy
btw, I once had a broker that closed the daily candle at midnight my time... how weird is that? I'm glad I didn't follow their charts for my analysis!
.... Yeah, that would be fun.
Ghost Rider - WWTBMD?
  • #16,255
  • Apr 11, 2016 2:02pm Apr 11, 2016 2:02pm
Quoting Geppy
{quote} I just assumed based on when you posted (half past the hour-ish) and "it's closed" that it had just closed at that point. Mine would close in 2 hours. It's now 1 hour from closing. The reason you would care about GMT is because most everyone looks at the GMT standarized chart because, well... it's standardized. So it doesn't matter where you are in the world. If you're looking at a chart that has closes that are different than most everyone else, you're going to be seeing something very different than most everyone else. In other...
What we're your last 3 closes on 4h...?
  • #16,256
  • Apr 11, 2016 2:46pm Apr 11, 2016 2:46pm
Quoting Don96
{quote} What we're your last 3 closes on 4h...?
My next will close in 1 hour and 15 minutes... the next, 4 hours after that (obv), etc.
check out my blog: forexmademillionaire dot com
  • #16,257
  • Apr 11, 2016 3:14pm Apr 11, 2016 3:14pm
Quoting Geppy
{quote} My next will close in 1 hour and 15 minutes... the next, 4 hours after that (obv), etc.
Sorry I meant what value do you have for your last 3 closes
  • #16,258
  • Apr 11, 2016 3:19pm Apr 11, 2016 3:19pm
Quoting Don96
{quote} Sorry I meant what value do you have for your last 3 closes
Current closes in 40 minutes. The 3 before that closed 153.519, 154.012, 153.831 on my feed.
Ghost Rider - WWTBMD?
  • #16,259
  • Apr 11, 2016 3:40pm Apr 11, 2016 3:40pm
Quoting albchr
{quote} Current closes in 40 minutes. The 3 before that closed 153.519, 154.012, 153.831 on my feed.
could I get a screen shot of your last 3 please? if possible
  • #16,260
  • Apr 11, 2016 3:43pm Apr 11, 2016 3:43pm
Quoting Don96
{quote} could I get a screen shot of your last 3 please? if possible
Sure ... Current closes in 17 minutes. NY close
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Ghost Rider - WWTBMD?
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