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Dragon Riders GBP/JPY

  • #17,121
  • May 9, 2016 8:56pm May 9, 2016 8:56pm
Quoting mhejek
it will long .but not this week {image}
time to clean the mess.
  • #17,122
  • May 9, 2016 10:12pm May 9, 2016 10:12pm
extreme display of target shooting there.....friggin bullseye.....+ or - .3 pip...yep, you're our heavy hitter.....he he .
Quoting FX-Ray
Good start of the week. U/J 108.75 is next upside. Current support 108.20; next downside target 107.85 G/J next upside 156.65/60
  • #17,123
  • May 9, 2016 10:40pm May 9, 2016 10:40pm
Quoting Gbp/jpy
extreme display of target shooting there.....friggin bullseye.....+ or - .3 pip...yep, you're our heavy hitter.....he he .{quote}
I using your M15 PA long now, thx M15 idea
Exits == most important part of your strategy
  • #17,124
  • May 9, 2016 11:08pm May 9, 2016 11:08pm
it works well in asia sessions....
Quoting edmun1388
{quote} I using your M15 PA long now, thx M15 idea
  • #17,125
  • May 9, 2016 11:36pm May 9, 2016 11:36pm
Quoting Gbp/jpy
it works well in asia sessions....{quote}
I checked already , if use your M15 strategy and not greedy , yesterday got 5 trades PA
max pips : 47,100,27,56,23 , if close at +20 tp1 not bad
Exits == most important part of your strategy
  • #17,126
  • Edited May 10, 2016 12:14am May 9, 2016 11:57pm | Edited May 10, 2016 12:14am
The 50% fib target looks reasonable at this time. The top trend line is still way up there. Comments, disagree etc etc?


But, I need to watch that 38% fib, it might turn into profit taking area or may reverse from there a little bit.
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  • #17,127
  • May 10, 2016 12:06am May 10, 2016 12:06am
Hello riders, please help me to comment about the way I draw my trendline below.
Thank you very much.
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  • #17,128
  • May 10, 2016 12:23am May 10, 2016 12:23am
Quoting Cm7
Hello riders, please help me to comment about the way I draw my trendline below. Thank you very much. {image}
confusing to me
  • #17,129
  • May 10, 2016 12:25am May 10, 2016 12:25am
to shy to go long at this day.i dont know why.to many rejection in asia times, and yen still get strength
  • #17,130
  • May 10, 2016 12:28am May 10, 2016 12:28am
Quoting maflip
The 50% fib target looks reasonable at this time. The top trend line is still way up there. Comments, disagree etc etc? So far so good. At this time, I'm plus 40 pips. But, I need to watch that 38% fib, it might turn into profit taking area or may reverse from there a little bit. {image} {image}
This is what I think i have on UJ Daily and dxy also my GJ im still aiming for that 164.8 to complete the flat for 4. If its not a flat and its a triangle which is very possible then I have it somewhere around the blue trendline. But I dont like the idea of the triangle too much because the the rsi isnt showing the consolidation to match the price like consolidation patterns usually do but either way its what makes the most sense to me and looks the cleanest on the chart imo
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  • #17,131
  • May 10, 2016 12:28am May 10, 2016 12:28am
Quoting Cm7
Hello riders, please help me to comment about the way I draw my trendline below. Thank you very much. {image}
give me a min or two i need to make a call and ill look at it
  • #17,132
  • May 10, 2016 12:29am May 10, 2016 12:29am
Quoting Cm7
Hello riders, please help me to comment about the way I draw my trendline below. Thank you very much. {image}
Valid but weak trend line. Make trend lines from larger swings that makes a hh/ll. However, those trend lines if zoom in are swings from an M5 chart. Only good if you are scalping.
  • #17,133
  • May 10, 2016 12:37am May 10, 2016 12:37am
Quoting Cm7
Hello riders, please help me to comment about the way I draw my trendline below. Thank you very much. {image}
So far, I still haven't found an indicator that draws trend lines the way I want it.

This is how I would draw those trend lines manually.
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  • #17,134
  • May 10, 2016 12:50am May 10, 2016 12:50am
Quoting Cm7
Hello riders, please help me to comment about the way I draw my trendline below. Thank you very much. {image}
OK...for the most part I see why you are drawing all of them and while i agree with them to a certain extent but I would remove the majority of them after your trade is done so that you dont confuse yourself. I do the same exact thing for the most part. But after the waves or temp moves are done erase them or relocate them because they are old once price has moved on. Also what helps me is I try to mark my lines from the extremes of prices or swing highs and lows. The macd can help you find them if you have issues locating them but I feel that the RSI is the best for finding them because it tells you when the price action has reached extreme levels and thats basically what i look for. Looking at what you have you have all kinds of stuff but the most important stuff. You should be connecting the extremes of the lows for one thing and also you need to zoom out so you can get a better picture of where price came from so you can get a better idea of where it can possibly go

Also I feal that people will hide the SL behind the extremes so I want to know where all the orders are hidden so that I can avoid getting washed out or so that I can catch the momentum of all the SLs being hit and watching my order basically eat them up with the big boys orders like pacman.

Does that make sense? if not ill try to explain what i look for beter
  • #17,135
  • May 10, 2016 1:08am May 10, 2016 1:08am
Current trades in JPY crosses.
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  • #17,136
  • May 10, 2016 1:13am May 10, 2016 1:13am
Quoting Cm7
Hello riders, please help me to comment about the way I draw my trendline below. Thank you very much. {image}
This is what my 1H chart looks like currently.

Notice the oversold levels on the RSI and what price is doing when it reaches it. So since i was already looking for longs because of the bullish price divergence and the bounces from the oversold levels, I now had to find my levels of entrance and where I would need to place a SL to be safe. So i took a parallel from the bottom points and like magic they matched up perfectly with temp swing highs. That arrow is pointing the break out candle. You see how strong that sucker is. Its because the majority of traders are fantastic at playing pingpong with price but cant play breakouts. So what did they do? They all hid the SL in that area right above those 2 pin bars which just happened to be right where that upper trendline was at. And look at that... the market ate up everyone who was playing pingpong with the trend.

Anyways....GJ is now showing bearish divergence on the 1hr. Im looking for a pullback to either test the break or the 50 and 618 fibs before continuation. If it doesnt pullback im looking for a consolidation so that I can play the same type of breakout
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  • #17,137
  • May 10, 2016 1:25am May 10, 2016 1:25am
Quoting raiders
{quote} This is what my 1H chart looks like currently. Notice the oversold levels on the RSI and what price is doing when it reaches it. So since i was already looking for longs because of the bullish price divergence and the bounces from the oversold levels, I now had to find my levels of entrance and where I would need to place a SL to be safe. So i took a parallel from the bottom points and like magic they matched up perfectly with temp swing highs. That arrow is pointing the break out candle. You see how strong that sucker is. Its because the...
On your H1 chart looks like a bullish flag breakout. I don't want to see it retracing to 50% on your chart anymore
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  • #17,138
  • May 10, 2016 1:25am May 10, 2016 1:25am
Quoting nimbinsstone
{quote} confusing to me
Thank you , that TL makes me confusing as well .
  • #17,139
  • May 10, 2016 1:29am May 10, 2016 1:29am
However, I am watching the M5 very carefully in case I need to take a small profit or breakeven. So far still holding up well. Right now I'm up 50 pips.
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  • #17,140
  • May 10, 2016 1:29am May 10, 2016 1:29am
Last time broken by BOJ in their first 'easing'

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