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Dragon Riders GBP/JPY

  • #16,521
  • Apr 21, 2016 7:14am Apr 21, 2016 7:14am
wow...went to sleep after the news because there wasnt a decent reaction and woke up to this
  • #16,522
  • Apr 21, 2016 7:17am Apr 21, 2016 7:17am
Quoting Mpt
{quote} No idea. On an amusing note, there's a Japanese indicator called the Tenkan Sen on my weekly chart. It very rarely ever touches the actual price (or at least has much effect), but did so back at 175 after the BOJ neg interest rate thing. We all know that didn't go well, but hey!, it's back .... at 157.8. Even the Japanese' own indicators want it to fail!
yeah man the cloud...i take a look at it sometimes during asian session since i know they live and die by it. looks like they broke through the trendline though....even though it came back down i think there might be more to that since its a year old
  • #16,523
  • Apr 21, 2016 7:23am Apr 21, 2016 7:23am
Quoting jsk3010
{quote} ​My pending missed by 3 pips rofl, bad times
I have that happening to me way too often... It really boils my blood.
  • #16,524
  • Apr 21, 2016 7:25am Apr 21, 2016 7:25am
Quoting Denden2012
{quote} I have that happening to me way too often... It really boils my blood.
Only have myself to blame, I usually set them at least 10 pips closer than the fib mark
  • #16,525
  • Apr 21, 2016 7:31am Apr 21, 2016 7:31am
Quoting jsk3010
{quote} Only have myself to blame, I usually set them at least 10 pips closer than the fib mark
Being a S/D trader, I find that price majority of times comes close to my zones then turns on a dime usually on a nearby SR line like today. I struggle with catching a trend (buying dips, selling rallies) and riding it as the price rarely comes down to my zones. The price bounces off the previous structure high/low, placing a trade there however usually leaves lots of pips at risk if I put my SL at the swing low.

Could anyone perhaps point me in the right direction as to how to properly catch a trend and I'd really appreciate it. Counter trend trades though I seem to have nailed down and profit well from such short retraces.
  • #16,526
  • Apr 21, 2016 7:36am Apr 21, 2016 7:36am
159.1?
Whos crazy enough to jump in front of that candle
  • #16,527
  • Apr 21, 2016 7:41am Apr 21, 2016 7:41am
Quoting raiders
159.1? Whos crazy enough to jump in front of that candle
Jump up the trendline with a fractal break on M5. Usually I would be long already but I'll skip this one.

I don't know I'm scared for some reason. But you guys go ahead. Might be a dump and pump (pump and dump in reverse)
  • #16,528
  • Apr 21, 2016 7:44am Apr 21, 2016 7:44am
Quoting maflip
{quote} Jump up the trendline with a fractal break on M5. Usually I would be long already but I'll skip this one. I don't know I'm scared for some reason. But you guys go ahead. Might be a dump and pump (pump and dump in reverse)
im not in iti either but that where i think it goes before the next dump. id rather just wait and be safe

did take a long in UJ though off the trendline bounce....so far so good
  • #16,529
  • Apr 21, 2016 7:51am Apr 21, 2016 7:51am
Quoting raiders
{quote} im not in iti either but that where i think it goes before the next dump. id rather just wait and be safe did take a long in UJ though off the trendline bounce....so far so good
Could be a bear flag on GJ... That's why I stayed away going long. If so 170 pip drop? Good till tomorrow?

But so far you are not wrong yet.
  • #16,530
  • Apr 21, 2016 8:00am Apr 21, 2016 8:00am
Won't surprise me at all to see it at least test the big 50% @ 156.349/184 again now. Perhaps Asia will provide the drift if neither London or NY does. No more entries for me until I see both rolls.

My gut tells me we haven't seen the last of this counter push yet but ..... I don't trade my gut .... anymore.

Enjoy the day folks
Ghost Rider - WWTBMD?
  • #16,531
  • Apr 21, 2016 8:06am Apr 21, 2016 8:06am
Quoting albchr
Won't surprise me at all to see it at least test the big 50% @ 156.349/184 again now. Perhaps Asia will provide the drift if neither London or NY does. No more entries for me until I see both rolls. My gut tells me we haven't seen the last of this counter push yet but ..... I don't trade my gut .... anymore. Enjoy the day folks
Too late for me anyway. But this big drop on the M5 looks like a big pole pointing downwards for now. Giving me the jibbies to go long hah hah. Well see I could be wrong.

Laterz.

Good Trades.
  • #16,532
  • Apr 21, 2016 8:09am Apr 21, 2016 8:09am
Quoting maflip
{quote} Could be a bear flag on GJ... That's why I stayed away going long. If so 170 pip drop? Good till tomorrow? But so far you are not wrong yet.
This is what I think might be in the works...and yes that flag is semitrical and 2 touches on each side so i think its valid. The pair is much cleaner to see on larger time frames...but who the hell knows with these crazy moves. if it breaks im gonna short it though thats for sure
Attached Image (click to enlarge)
Click to Enlarge Name: GJ.png Size: 134 KB
  • #16,533
  • Apr 21, 2016 8:11am Apr 21, 2016 8:11am
Quoting raiders
{quote} This is what I think might be in the works...and yes that flag is semitrical and 2 touches on each side so i think its valid. The pair is much cleaner to see on larger time frames...but who the hell knows with these crazy moves. if it breaks im gonna short it though thats for sure {image}
Ok bro.
  • #16,534
  • Apr 21, 2016 8:19am Apr 21, 2016 8:19am
Quoting maflip
{quote} Too late for me anyway. But this big drop on the M5 looks like a big pole pointing downwards for now. Giving me the jibbies to go long hah hah. Well see I could be wrong. Laterz. Good Trades.
Agreed me too. I only manage open positions beyond 10am NY not look for new ones. Couldn't buy or sell right here anyway unless trying to sweep some crumbs. Volume all but gone and now in "flutter" mode (for me) ... lol
Ghost Rider - WWTBMD?
  • #16,535
  • Apr 21, 2016 8:57am Apr 21, 2016 8:57am
Quoting Denden2012
{quote} Being a S/D trader, I find that price majority of times comes close to my zones then turns on a dime usually on a nearby SR line like today. I struggle with catching a trend (buying dips, selling rallies) and riding it as the price rarely comes down to my zones. The price bounces off the previous structure high/low, placing a trade there however usually leaves lots of pips at risk if I put my SL at the swing low. Could anyone perhaps point me in the right direction as to how to properly catch a trend and I'd really appreciate it. Counter...
Interesting question that I'm trying to understand a little more. Can you post a chart to illustrate?
  • #16,536
  • Apr 21, 2016 11:04am Apr 21, 2016 11:04am
Quoting Hickson
{quote} I am currently not spending much time on trading, but the routine has to be kept up, so managed to at least catch these nice 50 + on Euro today. GBP/JPY is a riddle for me atm, so I am flat on this. {image}
Hey Hickson, good to see you're still at it

Four days later I still can't make sense of GJ. Did catch the move on GN which was developing over the last few days and I've got a short on AU, looking for 0.763 at least...
  • #16,537
  • Apr 21, 2016 11:46am Apr 21, 2016 11:46am
Continue to fine tune/figure out why you're missing but in general, keep doing what you're doing. You don't have to catch every move. You only want the trades that come to you. That's what separates the profitable from the not so's. To chase puts you at risk as you mentioned. Slow and steady wins the race. There's always another play around the corner. Good luck... Here's a hint. "Market momentum"

Quoting Denden2012
{quote} Being a S/D trader, I find that price majority of times comes close to my zones then turns on a dime usually on a nearby SR line like today. I struggle with catching a trend (buying dips, selling rallies) and riding it as the price rarely comes down to my zones. The price bounces off the previous structure high/low, placing a trade there however usually leaves lots of pips at risk if I put my SL at the swing low. Could anyone perhaps point me in the right direction as to how to properly catch a trend and I'd really appreciate it. Counter...
SPC * Swollen PocketZ Crew!
  • #16,538
  • Apr 21, 2016 11:55am Apr 21, 2016 11:55am
Hi guys

this is my idea, hope its true.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPYDaily.png Size: 45 KB
Click to Enlarge Name: GBPJPYH4.png Size: 46 KB
  • #16,539
  • Apr 21, 2016 12:53pm Apr 21, 2016 12:53pm
Quoting alexpi
{quote} Hey Hickson, good to see you're still at it Four days later I still can't make sense of GJ. Did catch the move on GN which was developing over the last few days and I've got a short on AU, looking for 0.763 at least...
Nice, GN is the wild one, I am usually good enough with GJ haha.
Fix up, trade sharp ...
  • #16,540
  • Apr 21, 2016 1:17pm Apr 21, 2016 1:17pm
been away from this pair since my last posts... 157.7xx level not breached and cleared on higher time frames, pair has a valid 146.8xx min set up, however, I will try a short if it gets 161.3x/9x for 151, and then 146.xxx. may also throw a short in at 157.7xx, 152.9xx/2xx for longs/close out on shorts, whichever is first, 164.3xx may provide stronger support//bounce... almost nailed the last calls, probs wrong on this one, not much gone into it.
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