Attachments: Dragon Riders GBP/JPY

Dragon Riders GBP/JPY

#18,001
Jun 6, 2016 2:15am Jun 6, 2016 2:15am

Feo
| Joined Mar 2015 | Status: Trader | 622 Posts

Cable weekly pivot 1.4543

Forex, awful to watch, AWESOME to play

#18,002
Jun 6, 2016 2:18am Jun 6, 2016 2:18am

GJscalper
| Membership Revoked | Joined May 2016 | 1,339 Posts

Ok remember this chart?

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Well you can now see that the tp has hit, before the stop loss line 153.451 was closed under. This simply long has earned me well over 10% on the day.

I think I will call it a day.

@GJscalper I've turned a new leaf. No more trolling.

#18,003
Jun 6, 2016 2:28am Jun 6, 2016 2:28am

Feo
| Joined Mar 2015 | Status: Trader | 622 Posts

On the word BIAS, I don't like that word, whether used in life or Forex.
Especially is Forex. Someone will look at moving average and say price is below the 50, so they must sell. Or an oscillator is crossing the 5o mid upwards, so must buy. Yes, it can be used as a gauze. But there are buy orders and sell orders at Pivot, so we should you Pivots as entries.

The pivot will be the place where most action starts. And yes, the pivot does not always win, however it is I feel the safest indication of an entry viewpoint towards which the market might move. Especially the weekly and monthly Pivots. Then the daily pivots are used to get in on the action which was started at the weekly pivots.

On daily pivots, the R1 and S1 are the extreme price will reach before breaking out, and always in conjunction with the direction that price has taken from the weekly pivot

Like this move currently up. Daily pivot is at 154.19. This hour could close above it, then price can drop all the way down to the weekly S1 at 151.45. But the likelihood is far less because of cable's bounce up from it's weekly S1

So I guess I use pivots to gauze my bias n the markets. Did I say bias? Oh dear......

Forex, awful to watch, AWESOME to play

#18,004
Jun 6, 2016 2:29am Jun 6, 2016 2:29am

Feo
| Joined Mar 2015 | Status: Trader | 622 Posts

Quoting GJscalper

Disliked

Ok remember this chart? {image} Well you can now see that the tp has hit, before the stop loss line 153.451 was closed under. This simply long has earned me well over 10% on the day. I think I will call it a day.

Ignored

Nice trade

Forex, awful to watch, AWESOME to play

#18,005
Jun 6, 2016 2:37am Jun 6, 2016 2:37am

Don96
Joined Dec 2015 | Status: Trader | 7,803 Posts

Quoting GJscalper

Disliked

{quote} I simply pointed out that you ignore price action, as you were taking longs as GJ continued to sell of. However, you mentioned that you trade by "guessing"tops and bottoms. We can clearly see that guessing only puts you further in red trading this GJ pair.

Ignored

okay so I don't guess... and GJ has risen 160 from the bottom...

#18,006
Jun 6, 2016 2:39am Jun 6, 2016 2:39am

GJscalper
| Membership Revoked | Joined May 2016 | 1,339 Posts

Quoting Feo

Disliked

On the word BIAS, I don't like that word, whether used in life or Forex. Especially is Forex. Someone will look at moving average and say price is below the 50, so they must sell. Or an oscillator is crossing the 5o mid upwards, so must buy. Yes, it can be used as a gauze. But there are buy orders and sell orders at Pivot, so we should you Pivots as entries. The pivot will be the place where most action starts. And yes, the pivot does not always win, however it is I feel the safest indication of an entry viewpoint towards which the market might...

Ignored

lol. I love your view on pivots. I myself believe they are powerful. Anyway I have decided to stay up, but take very very very small orders. I will continue to checkout your recommendations feo

@GJscalper I've turned a new leaf. No more trolling.

#18,007
Jun 6, 2016 3:04am Jun 6, 2016 3:04am

GJscalper
| Membership Revoked | Joined May 2016 | 1,339 Posts

GJ has hit Friday's close price, after the gap down. Now this will be interesting.

@GJscalper I've turned a new leaf. No more trolling.

#18,008
Jun 6, 2016 4:05am Jun 6, 2016 4:05am

guesser
| Joined Jun 2016 | Status: Dragon trader | 594 Posts

I think price will visit the blue trend line

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"You may say I am a dreamer .... but I am not the only one."

#18,009
Jun 6, 2016 5:14am Jun 6, 2016 5:14am

4xNewGuy
Joined Aug 2014 | Status: Apparently I'm good when I'm drunk | 400 Posts

Quoting fxt365

Disliked

FX-Ray; pardon my ignorance but how do you come usually come to conclusion about the decision point, please elaborate. {quote}

Ignored

He's developed an algorithm. He occasionally uploads a template, but if you want his actual mathematical equation, well, open up your wallet. Because that's a trade secret.

If you pay attention enough though, you can determine those DPs yourself through your own means.

Price returns to the same areas over and over again. You just need to establish a system that identifies them.

It takes a lot of time and practice, but anything worthwhile isn't handed to you. You figure it out.

#18,010
Jun 6, 2016 5:43am Jun 6, 2016 5:43am

GJscalper
| Membership Revoked | Joined May 2016 | 1,339 Posts

What an amazing rejection by GBP/JPY from friday's close.

@GJscalper I've turned a new leaf. No more trolling.

#18,011
Jun 6, 2016 9:42am Jun 6, 2016 9:42am

FX-Ray
Joined May 2011 | Status: [Forex]X-Ray | 4,835 Posts

Quoting FX-Ray

Disliked

Decision points calendar week 23 for GBP/JPY: (0) 166.40/30* (1) 165.60/50 (2) 164.80/70 (3) 161.30/20 (4) 159.20/10 (5) 157.40/30* (6) 156.10/00** (7) 155.50/40* (8) 153.70/60 (9) 153.20/10 (X) 152.00/90* *Updated **Added

Ignored

Nice rejection of DP (9) & (8), current print DP (7), watch that level closely and match it up with your analysis.

#18,012
Jun 6, 2016 9:43am Jun 6, 2016 9:43am

FX-Ray
Joined May 2011 | Status: [Forex]X-Ray | 4,835 Posts

Quoting 4xNewGuy

Disliked

{quote} He's developed an algorithm. He occasionally uploads a template, but if you want his actual mathematical equation, well, open up your wallet. Because that's a trade secret. If you pay attention enough though, you can determine those DPs yourself through your own means. Price returns to the same areas over and over again. You just need to establish a system that identifies them. It takes a lot of time and practice, but anything worthwhile isn't handed to you. You figure it out.

Ignored

I posted a part of the algo here: Post #4243

#18,013
Jun 6, 2016 9:44am Jun 6, 2016 9:44am

mbahbejo
| Joined Feb 2015 | Status: pedagang terbaik | 45 Posts

keep sell on rally

#18,014
Jun 6, 2016 2:08pm Jun 6, 2016 2:08pm

JimmyC
Joined Jun 2013 | Status: Trader | 3,071 Posts

Daily
Nice lower wick, hammer side by side... I'd look at longs on a relief rally.
Probably be short lived.
Ciao

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#18,015
Jun 6, 2016 2:54pm Jun 6, 2016 2:54pm

calderone
Joined May 2009 | Status: step into liquid | 3,460 Posts

Quoting JimmyC

Disliked

Daily Nice lower wick, hammer side by side... I'd look at longs on a relief rally. Probably be short lived. Ciao {image}

Ignored

If you look at the 4hr and 1hr to be specific. We are at the 61.8 of the drop. I expect price to drift down from here and the downtrend to continue.

#18,016
Jun 6, 2016 6:22pm Jun 6, 2016 6:22pm

GJscalper
| Membership Revoked | Joined May 2016 | 1,339 Posts

Does that picture best discribe your account on 06/06/2016

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@GJscalper I've turned a new leaf. No more trolling.

#18,017
Jun 6, 2016 7:01pm Jun 6, 2016 7:01pm

nimbinsstone
| Joined Mar 2015 | Status: Trader | 299 Posts

Quoting JimmyC

Disliked

Daily Nice lower wick, hammer side by side... I'd look at longs on a relief rally. Probably be short lived. Ciao {image}

Ignored

I saw that chart forming yesterday, didn't take the position but now wish I had