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Dragon Riders GBP/JPY

  • #20,061
  • Aug 20, 2016 5:13pm Aug 20, 2016 5:13pm
Quoting wizlon32
Im not sure that the down channel has been broken yet. {image}
Thats actually way more valid channel than was posted above... The lines are straight. But even without a channel you can see that every move up has been met with a bigger move down. What is the probability that this specific up move will be the reversal?

all good trends end with a spike followed by retrace and consolidation.
Trade in the now
  • #20,062
  • Aug 20, 2016 5:42pm Aug 20, 2016 5:42pm
downtrend is not over yet
that does not mean that it could not end soon, but that sign has not showed yet
if it breaks above 132.40 and keeps staying above that level, that could be a sign of a short term reversal
but if it breaks below 129 again we may be headed for fresh new lows
  • #20,063
  • Aug 20, 2016 5:48pm Aug 20, 2016 5:48pm
Quoting MXT
downtrend is not over yet that does not mean that it could not end soon, but that sign has not showed yet if it breaks above 132.40 and keeps staying above that level, that could be a sign of a short term reversal but if it breaks below 129 again we may be headed for fresh new lows
Can you explain 132.40 - why is this an important number.
Trade in the now
  • #20,064
  • Aug 20, 2016 6:33pm Aug 20, 2016 6:33pm
Quoting MXT
{quote} do they freeze their MT4 for 5-8 minutes during the trading day , especially when the market is moving fast ( i'm not talking about NFP or heavy news releases, just no-news nice fast moves that happen) ?
Well not really. Unless it is high impact news Icmarkets doesn't freeze. However, their has been situations where the mt4 freezes non high impact news while the webtrader platform works flawlessly.
@GJscalper I've turned a new leaf. No more trolling.
  • #20,065
  • Aug 20, 2016 6:36pm Aug 20, 2016 6:36pm
Usdjpy entering dangerous territory for Kuroda ( 100 level ) - the fear may cause a gap up and rally in this cross.
http://www.forexfactory.com/news.php?do=news&id=603576
someone once showed us how to tell what the gap will be Monday, great someone tell us again
  • #20,066
  • Aug 20, 2016 6:40pm Aug 20, 2016 6:40pm
Quoting Tim_isoara
{quote} A ECN broker depends on Liquidity Providers. So when is news...you have more liquidity providers is better. So, every broker widen spreads during news.
Don't say EVERYBROKER widens spreads because that simply isn't true. I recall rvdmarkets and yadix professional account NEVER widening spread even durning high impact news. I had screen capture proof of this where rvd would keep its .5 spread on EU and on other brokers it will turn into huge spreads.
@GJscalper I've turned a new leaf. No more trolling.
  • #20,067
  • Aug 20, 2016 7:13pm Aug 20, 2016 7:13pm
Quoting Tim_isoara
{quote} A ECN broker depends on Liquidity Providers. So when is news...you have more liquidity providers is better. So, every broker widen spreads during news.
Thanks for your insight.

Quoting GJscalper
{quote} Don't say EVERYBROKER widens spreads because that simply isn't true. I recall rvdmarkets and yadix professional account NEVER widening spread even durning high impact news. I had screen capture proof of this where rvd would keep its .5 spread on EU and on other brokers it will turn into huge spreads.
I don't get it, it's noticeable when news are about to happen, and in fact one of the brokers I use made this statement in FFAA because I ranted about a news related issues.

BTW, I'm not arguing with you, I'm just telling you what I've seen.
A good strategy for trading is... the opposite of having a bad strategy.
  • #20,068
  • Aug 20, 2016 7:43pm Aug 20, 2016 7:43pm
Quoting PowerTrade
{quote} Thanks for your insight. {quote} I don't get it, it's noticeable when news are about to happen, and in fact one of the brokers I use made this statement in FFAA because I ranted about a news related issues. BTW, I'm not arguing with you, I'm just telling you what I've seen.
I mean yes it is noticeable, but many people have never traded with a REAL ecn to know how the market reacts to high impact news. I think most people fail to realize that the spreads widen broker to broker based on settings which they have the ability to control.Why would the brokers want to widen spread? Well because it maximizes the amount of orders which they are able to open right before the news. Many people like to straddel instruments prior to high impact news so the broker benifits from widen of the spreads as they can catch more orders prior to the spike.
@GJscalper I've turned a new leaf. No more trolling.
  • #20,069
  • Aug 20, 2016 7:45pm Aug 20, 2016 7:45pm
Quoting Pip-Miner
Usdjpy entering dangerous territory for Kuroda ( 100 level ) - the fear may cause a gap up and rally in this cross. http://www.forexfactory.com/news.php?do=news&id=603576 someone once showed us how to tell what the gap will be Monday, great someone tell us again
There is no way to tell where the Gap will be, but there is away to profit from gaps by using high leverage and hedging right before market close.
@GJscalper I've turned a new leaf. No more trolling.
  • #20,070
  • Aug 20, 2016 8:01pm Aug 20, 2016 8:01pm
Quoting Pip-Miner
Usdjpy entering dangerous territory for Kuroda ( 100 level ) - the fear may cause a gap up and rally in this cross. http://www.forexfactory.com/news.php?do=news&id=603576 someone once showed us how to tell what the gap will be Monday, great someone tell us again
excellent post, that would be the major risk reversal
if kuroda intervenes that could spike usdjpy to 105 and gbpjpy to 135, so let's be very careful next week
  • #20,071
  • Aug 20, 2016 8:25pm Aug 20, 2016 8:25pm
Quoting alldirex
{quote} Can you explain 132.40 - why is this an important number.
it comes from a trading system that i use

sorry for double post guys, how do you do multiple quotes on this board ?
  • #20,072
  • Edited 8:44pm Aug 20, 2016 8:43pm | Edited 8:44pm
Quoting MXT
{quote} it comes from a trading system that i use sorry for double post guys, how do you do multiple quotes on this board ?
Just quote a post, make your reply, copy everything, cancel reply, quote the next post and paste what you copied from your last canceled post.

Quoting GJscalper
{quote} I mean yes it is noticeable, but many people have never traded with a REAL ecn to know how the market reacts to high impact news. I think most people fail to realize that the spreads widen broker to broker based on settings which they have the ability to control.Why would the brokers want to widen spread? Well because it maximizes the amount of orders which they are able to open right before the news. Many people like to straddel instruments prior to high impact news so the broker benifits from widen of the spreads as they can catch more orders prior to the spike.
A good strategy for trading is... the opposite of having a bad strategy.
  • #20,073
  • Aug 20, 2016 10:04pm Aug 20, 2016 10:04pm
With Kuroda determined to drive Yen downward and London economy is doing better than expected, a huge bullish future ahead for GJ in the coming days
  • #20,074
  • Aug 20, 2016 11:53pm Aug 20, 2016 11:53pm
Quoting PipMaxzz
With Kuroda determined to drive Yen downward and London economy is doing better than expected, a huge bullish future ahead for GJ in the coming days
Don't know yet but yes by the chart structure its showing us a nice reversal with the target of 136+ to 140 but my concern is, really it is going to break 135? If it can break then no worries for 140 till weekly resistance.
Nobody Knows the Next move!!
  • #20,075
  • Aug 21, 2016 7:07am Aug 21, 2016 7:07am
Quoting rocket00
{quote} Don't know yet but yes by the chart structure its showing us a nice reversal with the target of 136+ to 140 but my concern is, really it is going to break 135? If it can break then no worries for 140 till weekly resistance.
Well it wasn't to long ago that some from this thread mentioned that everytime GJ goes up it gets spanked down. Should GJ gap up will bias sellers sell or turn to the buy bias?
@GJscalper I've turned a new leaf. No more trolling.
  • #20,076
  • Aug 21, 2016 9:09am Aug 21, 2016 9:09am
Quoting GJscalper
{quote} Well it wasn't to long ago that some from this thread mentioned that everytime GJ goes up it gets spanked down. Should GJ gap up will bias sellers sell or turn to the buy bias?
Don't worry mates, Not too much time left. Answers coming........
Nobody Knows the Next move!!
  • #20,077
  • Aug 21, 2016 10:53am Aug 21, 2016 10:53am
The BOJ will also consider whether to make any changes to the 80 trillion yen ($798 billion) per year massive asset-purchase plan once the outcome of a comprehensive assessment of its monetary policies is out in September, Kuroda said.
The asset purchases are a key plank of the central bank's "quantitative and qualitative easing" program deployed in 2013, aimed at achieving its 2 percent inflation target. Despite the aggressive easings, however, inflation is well off the target and growth remains anemic.
Kuroda told the daily the BOJ plans to release the outcome of the assessment on the day of the policy meeting in September.

----------------------

the risk is that kuroda may intervene before the regular September meeting and take the market by surprise as he often does and likes
  • #20,078
  • Aug 21, 2016 12:59pm Aug 21, 2016 12:59pm
Why fight a central bank like BoJ anyway ? I rather have them on my side at these levels , a conclusion The Vulcan spock would find logical .
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  • #20,079
  • Aug 21, 2016 2:34pm Aug 21, 2016 2:34pm
Well premarket quotes are now coming in and not much of a gap on Gj.... so it looks like the market will open flatty.
@GJscalper I've turned a new leaf. No more trolling.
  • #20,080
  • Aug 21, 2016 3:05pm Aug 21, 2016 3:05pm
Well small gap on UJ (77pips) and GJ at 33 pips...
@GJscalper I've turned a new leaf. No more trolling.
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