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Dragon Riders GBP/JPY

  • #20,641
  • Aug 29, 2016 8:47am Aug 29, 2016 8:47am
Fresh buy @ 133.80 with SL 133.40
  • #20,642
  • Aug 29, 2016 8:48am Aug 29, 2016 8:48am
Ok GJ order 1 STOP OUT!

I am now long of GJ at 133.789
SL is a close at or below 133.545
TP is 133.997
rISKING 10% to gain 10%
-----------------------------------------
@GJscalper I've turned a new leaf. No more trolling.
  • #20,643
  • Aug 29, 2016 8:49am Aug 29, 2016 8:49am
Quoting andy_wpo
closed at 133.72 (+47pips) took a long position 133.64 dont have a TP,SL 133.40
Very nice entry....
I was waiting for confirmation and lost 15pips early entry....
  • #20,644
  • Aug 29, 2016 8:52am Aug 29, 2016 8:52am
Quoting GJscalper
{quote} Well at this point, the price is 133.75 so as long as the bid doesn't close at or above 133.783 then my call is still valid. If I stop out here it will cost me 3% of my account AND I will reverse to a buy risking 10% So let us wait and see how this candle closes.

Hey..., only trying to be helpful. I took a buy and just thought I'd share my thoughts. Respect

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  • #20,645
  • Aug 29, 2016 8:56am Aug 29, 2016 8:56am
Quoting Ultiforex
{quote} Hey..., only trying to be helpful. I took a buy and just thought I'd share my thoughts. Respect {image}
Hey there is no issue at all with you sharing your opinion. Remember we have the same information and see different things. I am sure if we look at the same formation you are looking at, you will find instants where the price broke through the candles or (support) you are showing. That is the beauty of price action, she does her own thing and you better be ready to switch orders when your sl is hit!
@GJscalper I've turned a new leaf. No more trolling.
  • #20,646
  • Aug 29, 2016 9:10am Aug 29, 2016 9:10am
Quoting subbusuper
Fresh buy @ 133.80 with SL 133.40
Closed long at 133.65 (-15 Pips)
  • #20,647
  • Aug 29, 2016 9:11am Aug 29, 2016 9:11am
Quoting GJscalper
{quote}/...... That is the beauty of price action, she does her own thing and you better be ready to switch orders when your sl is hit!
Its early...... I'm not even claiming I was right lol We are all trying to help each other
  • #20,648
  • Aug 29, 2016 9:14am Aug 29, 2016 9:14am
Fresh Sell GBPJPY @ 133.65 with SL 134.00
  • #20,649
  • Aug 29, 2016 10:04am Aug 29, 2016 10:04am
Can anyone explain why liquidity is so high considering its U.K. bank holiday? Cheers
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  • #20,650
  • Aug 29, 2016 10:19am Aug 29, 2016 10:19am
Quoting Derivative92
Can anyone explain why liquidity is so high considering its U.K. bank holiday? Cheers {image}
When liquidity is low price moves fast in senseless directions (volatility) because "small" amounts of money are more important as a percent of all the money being traded
  • #20,651
  • Aug 29, 2016 10:32am Aug 29, 2016 10:32am
Quoting Ultiforex
{quote} Its early...... I'm not even claiming I was right lol We are all trying to help each other
Based on my System back to a sell it is....

I am now short risking 10% of my account to earn 10%

133.241 is tp
133.882 IS SL
@GJscalper I've turned a new leaf. No more trolling.
  • #20,652
  • Aug 29, 2016 11:22am Aug 29, 2016 11:22am
Quoting Ultiforex
{quote} Its early...... I'm not even claiming I was right lol We are all trying to help each other
Don't like the look of my position. Closed Long trade - 5 pips
  • #20,653
  • Aug 29, 2016 11:25am Aug 29, 2016 11:25am
Quoting Derivative92
Can anyone explain why liquidity is so high considering its U.K. bank holiday? Cheers {image}
You don't see the liquidity of all market here.
You see the liquidity of accounts from Forex Factory.
This accounts don't represent 0.01% of all markets.
  • #20,654
  • Aug 29, 2016 11:26am Aug 29, 2016 11:26am
Quoting Ultiforex
{quote} Don't like the look of my position. Closed Long trade - 5 pips
Well if GJ drops to my TP, I will profit share with you. I am strapped to the downside!
Attached Image (click to enlarge)
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Risking 3k to earn 3k. A little less than 10% of my account!
@GJscalper I've turned a new leaf. No more trolling.
  • #20,655
  • Aug 29, 2016 11:35am Aug 29, 2016 11:35am
Careful.. Buyers coming in at these levels, including myself . Struggle to even get past 133.3
  • #20,656
  • Aug 29, 2016 11:42am Aug 29, 2016 11:42am
Quoting Pip-Miner
Careful.. Buyers coming in at these levels, including myself . Struggle to even get past 133.3
Stop loss ready with enough buying power to enter into the long side and ride the wave (assuming it happens) On the buy I would be risking 25% to earn 25%

However, I would agree that the formation is setting up nicely for the scalpers who are willing to buy... Look how flat it has gone!

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From my experience on the lower tf, When you see that formation. The buy is the best position to have open, but the sell would drop very very very quickly taking out the higher lows with one long wick of a candle. So I would rather sit short and hope it drops a nice 15 pips, tp, and reload to the sell side on a move up.
@GJscalper I've turned a new leaf. No more trolling.
  • #20,657
  • Aug 29, 2016 11:42am Aug 29, 2016 11:42am
Quoting alexpi
{quote} When liquidity is low price moves fast in senseless directions (volatility) because "small" amounts of money are more important as a percent of all the money being traded
Price moves fastest in the direction of least liquidity
  • #20,658
  • Aug 29, 2016 11:50am Aug 29, 2016 11:50am
If the low of that candle which has the arrowing pointing upward is closed under on the 5m, it will be a nice sexxxy drop for me and this account!
Attached Image
@GJscalper I've turned a new leaf. No more trolling.
  • #20,659
  • Aug 29, 2016 11:53am Aug 29, 2016 11:53am
Quoting rmrf
{quote} Price moves fastest in the direction of least liquidity
Typically yes, but because this isn't like stocks it can go either way. Being that forex is decentralized, for the simple fact that no one knows what is the most amount of LOTS one can buy of any pair, that alone leaves liquidity, volume, supply and demand and all those other "realiable" factors in stocks, not applicable in forex. Just think about it for a second. If you don't know what is the most amount of lots you can buy if you wanted to "BUY OUT ALL PEOPLE HOLDING PAIRS" that alone makes liquidity and volume trading pointless!
@GJscalper I've turned a new leaf. No more trolling.
  • #20,660
  • Aug 29, 2016 12:00pm Aug 29, 2016 12:00pm
Quoting GJscalper
{quote} Well if GJ drops to my TP, I will profit share with you.
Good luck, I'm undecided so will sit this one out. Watching with interest!!
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