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Dragon Riders GBP/JPY

  • #18,221
  • Jun 10, 2016 2:31pm Jun 10, 2016 2:31pm
Quoting raiders
Anyways...i was talking some shit about 1.2/1.1 in GU about a week back and people thought I was crazy. Lets see what the market brings us over the next few days. Im done for the day. Looking for a pullback in EU to see if it can go straight to hell with GU
well anything is possible. it might go to 0.5 one day. You will see in the future
  • #18,222
  • Jun 10, 2016 2:33pm Jun 10, 2016 2:33pm
Quoting GJscalper
Short GJ before close. It will gap down to a fresh low when market opens.
Said with so much confidence, hope you're right.
Personally, I will always like to be flat at Friday's close.
non si dimentichi mai
  • #18,223
  • Jun 10, 2016 2:36pm Jun 10, 2016 2:36pm
Quoting GJscalper
Short GJ before close. It will gap down to a fresh low when market opens.
Werent you just sure it would go up a few hours ago and lost heaps of your account when it did go down? You are either brave or st..... to make calls like that. Sorry.
  • #18,224
  • Jun 10, 2016 2:39pm Jun 10, 2016 2:39pm
Quoting GJscalper
Short GJ before close. It will gap down to a fresh low when market opens.


you don't have to trade the gap if you can trade in moving market
  • #18,225
  • Jun 10, 2016 2:39pm Jun 10, 2016 2:39pm
Quoting plus50
{quote} Said with so much confidence, hope you're right. Personally, I will always like to be flat at Friday's close.
LOL day traders hahahahaha!.........In this case I agree it might gap down on
Sundays open. The trend is down, its been down.....even without the fundamentals making things volatile, the trend is down my friend :-).
  • #18,226
  • Jun 10, 2016 2:41pm Jun 10, 2016 2:41pm
Quoting GJscalper
Short GJ before close. It will gap down to a fresh low when market opens.
You said that a week ago. It turned out to be the right call.
If the polls keep coming in favour of an exit, how low do you think this beast will go BEFORE the vote?
  • #18,227
  • Jun 10, 2016 2:42pm Jun 10, 2016 2:42pm
Quoting TaoTrader
{quote} LOL day traders hahahahaha!.........In this case I agree it might gap down on Sundays open. The trend is down, its been down.....even without the fundamentals making things volatile, the trend is down my friend :-).
i feel like if it breaks out it might go to hell
  • #18,228
  • Jun 10, 2016 2:44pm Jun 10, 2016 2:44pm
They just need to do one more of these stupid pre-polls with a positive outcome for NON-BREXIT and it will gap up. Risky play in such a market...
  • #18,229
  • Jun 10, 2016 2:48pm Jun 10, 2016 2:48pm
True true, its risky because it may gap up but the price will eventually move back down to settle in with the dominant trend......and I agree it might go to hell.....a downward spiral because of Brexit.....who knows.
  • #18,230
  • Jun 10, 2016 3:02pm Jun 10, 2016 3:02pm
In any case, we will surely see another move down right before market close as everyone quits there long positions that they´ve taken for the retracement after the hefty down-spike. No one is insane to keep long positions on that during the weekend for sure.
  • #18,231
  • Jun 10, 2016 3:20pm Jun 10, 2016 3:20pm
Quoting geektrader
{quote} Werent you just sure it would go up a few hours ago and lost heaps of your account when it did go down? You are either brave or st..... to make calls like that. Sorry.
If I was so sure it would move up, I would not of used a stop loss.
@GJscalper I've turned a new leaf. No more trolling.
  • #18,232
  • Jun 10, 2016 3:20pm Jun 10, 2016 3:20pm
Quoting geektrader
In any case, we will surely see another move down right before market close as everyone quits there long positions that theyve taken for the retracement after the hefty down-spike. No one is insane to keep long positions on that during the weekend for sure.
Hmm, seems people were rather sitting on their shorts, so we get a move up. interesting....
  • #18,233
  • Jun 10, 2016 3:22pm Jun 10, 2016 3:22pm
Quoting TwFXtrader
{quote} you don't have to trade the gap if you can trade in moving market
I personally won't trade the gap, especially since the price has reversed over 100 pips from low. I am luckly enough to have had my stop loss honored from my broker.
@GJscalper I've turned a new leaf. No more trolling.
  • #18,234
  • Jun 10, 2016 3:22pm Jun 10, 2016 3:22pm
Quoting geektrader
In any case, we will surely see another move down right before market close as everyone quits there long positions that theyve taken for the retracement after the hefty down-spike. No one is insane to keep long positions on that during the weekend for sure.
Agreed who would honestly say the price is going up for the trend unless they are a position trader LOL
  • #18,235
  • Jun 10, 2016 3:23pm Jun 10, 2016 3:23pm
Quoting geektrader
{quote} Hmm, seems people were rather sitting on their shorts, so we get a move up. interesting....
Its just a retracement the price will never move the same direction all the time it has to take a breather and retrace. Its a fakeout LOL
  • #18,236
  • Jun 10, 2016 3:25pm Jun 10, 2016 3:25pm
Quoting TaoTrader
{quote} Its just a retracement the price will never move the same direction all the time it has to take a breather and retrace. Its a fakeout LOL
How deep or how far do you consider retracements? Do you use fibs?
  • #18,237
  • Jun 10, 2016 3:26pm Jun 10, 2016 3:26pm
Quoting TaoTrader
{quote} Its just a retracement the price will never move the same direction all the time it has to take a breather and retrace. Its a fakeout LOL
Ah, really? LOL I was either speculating if people sit on more short or more long positions. Right before market close people usually close their positions, so if price moves up right before, they´ve been sitting on more shorts and vice versa.
  • #18,238
  • Jun 10, 2016 3:40pm Jun 10, 2016 3:40pm
Quoting lancedes
{quote} You said that a week ago. It turned out to be the right call. If the polls keep coming in favour of an exit, how low do you think this beast will go BEFORE the vote?
Yup, but last week it printed a fresh low with the last tick of the market. Today it has had a massive reversal after that move down. So playing the GAP trade here doesn't feel as secure as it did last week.
@GJscalper I've turned a new leaf. No more trolling.
  • #18,239
  • Jun 10, 2016 4:08pm Jun 10, 2016 4:08pm
Quoting TwFXtrader
{quote} you don't have to trade the gap if you can trade in moving market
Ahhhhh yes wise move that's what ive been trying to explain!
  • #18,240
  • Jun 10, 2016 4:13pm Jun 10, 2016 4:13pm
Quoting raiders
{quote} How deep or how far do you consider retracements? Do you use fibs?
Yes I use Fibbonacci levels. I usually look at the 38.2, 61.8, 100, and 161.8 levels. I always view where the trend is going based on the higher time frames, and I open my trades based on price movement for the 4-hour time frame......ideally with the Daily chart trending. Right now the GBP/JPY is on a wave 3 on the daily chart by my count, going down, about to touch the 61.8 retracement level.
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