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Dragon Riders GBP/JPY

  • #20,661
  • Aug 29, 2016 12:05pm Aug 29, 2016 12:05pm
And up it goes : Long from 133.62 : SL . 132.30 , TP : 136.90
  • #20,662
  • Aug 29, 2016 12:06pm Aug 29, 2016 12:06pm
just an idea
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  • #20,663
  • Aug 29, 2016 12:09pm Aug 29, 2016 12:09pm
See how the bulls are in charge and fighting the drop!
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That one candle proves the theory I mentioned before. If one looks back on any tf and looks for that same formation you always see the same results, although most times the BUYERS win with a run to the nearest pivot, the reality is you do see drops with the same formation but not only is it rare but it is always started off by one specific candle.
@GJscalper I've turned a new leaf. No more trolling.
  • #20,664
  • Aug 29, 2016 12:16pm Aug 29, 2016 12:16pm
Quoting nawafasad1
just an idea {image}
I have a question about your chart.... What made you connect the fibs (the last connection) the way you did? I ask you that because it perfectly has bounced off of the 50 fib, but of course that doesn't mean that it won't work its way back.

Fib connections are super objective, but I think people don't connect them with some set of "rule"
Look at your chart, I would say that once the last leg up was met with a red candle which engulfed the HIGH, then you connected the low of the move up with the high of the last green candle which was engulfed.
@GJscalper I've turned a new leaf. No more trolling.
  • #20,665
  • Aug 29, 2016 12:24pm Aug 29, 2016 12:24pm
just my 2 cent , also NICE formation of H&S looks like it just small retrace, lets see on the asian session
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Cheers and GL

Al.
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #20,666
  • Aug 29, 2016 12:26pm Aug 29, 2016 12:26pm
If that candle which has the arrow pointing up is engulfed.... Then main daily pivot here we come. Chooooooooooo Chooooooooooo and that is where I get off at. lol
Attached Image
@GJscalper I've turned a new leaf. No more trolling.
  • #20,667
  • Aug 29, 2016 12:27pm Aug 29, 2016 12:27pm
#Strapped Keep going baby!

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@GJscalper I've turned a new leaf. No more trolling.
  • #20,668
  • Aug 29, 2016 12:29pm Aug 29, 2016 12:29pm
Quoting GJscalper
If that candle which has the arrow pointing up is engulfed.... Then main daily pivot here we come. Chooooooooooo Chooooooooooo and that is where I get off at. lol {image}
what is your pivot price you waiting for?(i just want compare with my data)

Cheers and GL
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #20,669
  • Aug 29, 2016 12:55pm Aug 29, 2016 12:55pm
Ok boys and girls....Sept is almost here and it couldn't come fast enough. Markets should be back to normal in no time. That said, heres a few things im currently looking at. I want to say im currently flat, but i will be short NU probably by the end of the day.
Hope it helps and if anyone is seeing something else, please feel free to comment or let me know. Im not afraid of criticism.


DXY...looks like it completed its correction and has bottomed out again and is making a push higher. I think were looking at 102ish at the min and probably 103.2. So looking to short the dollar might be a tough trade for a bit. On the 1hr the reversal looks pretty damn amazing.

NU...on the daily its easy to see the entire up move was corrective in nature. Its looking to break down here and on the 1H you can see that it broke the recent up trend. Somewhere around .729 there will probably be a good amount of resistance as you can see by looking left. This area also falls between the 382 and 618 fibs. So thats where im looking to get in.

Crude...looking like a nice correction. 45.8 area looks like a lovely place to search for longs as it continues the march north.
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Click to Enlarge Name: DXY1.png Size: 95 KB
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  • #20,670
  • Aug 29, 2016 12:56pm Aug 29, 2016 12:56pm
Attached Image (click to enlarge)
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the move started from there after the correction of w which I put x then first leg up is a b should ideally go to 50% of the move or 61.8%
  • #20,671
  • Aug 29, 2016 1:00pm Aug 29, 2016 1:00pm
Quoting subbusuper
Fresh Sell GBPJPY @ 133.65 with SL 134.00
Closed @ BE
  • #20,672
  • Aug 29, 2016 1:30pm Aug 29, 2016 1:30pm
hi raiders nzd sell is a good set up but it could be only a correction to the downside and I m looking at ,7164 and .7112 to end the
correction or to give un upside move at least
  • #20,673
  • Aug 29, 2016 2:10pm Aug 29, 2016 2:10pm
Quoting nawafasad1
hi raiders nzd sell is a good set up but it could be only a correction to the downside and I m looking at ,7164 and .7112 to end the correction or to give un upside move at least
Maybe. I think that entire recent up move was nothing but an ABC correction of the larger daily downtrend. My reasoning is pretty simple. The down move was fast and impulsive the up move was choppy and slow. So, while it is true, we have been getting higher highs and higher lows, the highs are corrective. If we took the D timeframe and replaced it with say 30M or hourly im sure everyone would be saying the same thing. Anyways, my plan is not to ride it down the entire way with a full position. I plan on loading up at nice reject and holding to the next rising trendline to see how it reacts. If it blows it out, Ill hold and add. If it stalls and corrects again ill take a chunk off the table and look to re-add on the next break of a consolidation. I think looking for a test of the bottom if very much a viable and realistic option based purely on the way its behaved.

Either way, im with you 100% and looking for a target in the 71s is the way to go

Also, if you take a look at the COT reports, the large speculators have crossed over to short.
Attached File(s)
File Type: pdf NU COT .pdf   305 KB | 442 downloads
  • #20,674
  • Aug 29, 2016 2:24pm Aug 29, 2016 2:24pm
Quoting raiders
{quote} Maybe. I think that entire recent up move was nothing but an ABC correction of the larger daily downtrend. My reasoning is pretty simple. The down move was fast and impulsive the up move was choppy and slow. So, while it is true, we have been getting higher highs and higher lows, the highs are corrective. If we took the D timeframe and replaced it with say 30M or hourly im sure everyone would be saying the same thing. Anyways, my plan is not to ride it down the entire way with a full position. I plan on loading up at nice reject and holding...
Welcome back bro, I see you have been in prison or is that someone raiders put in jail ( few candidates lol )
  • #20,675
  • Aug 29, 2016 2:26pm Aug 29, 2016 2:26pm
Looking at my chart, think GJ is ready to sell off...... but its far from certain

Showing HD as indicated.......

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  • #20,676
  • Aug 29, 2016 2:54pm Aug 29, 2016 2:54pm
Quoting GJscalper
See how the bulls are in charge and fighting the drop! {image} That one candle proves the theory I mentioned before. If one looks back on any tf and looks for that same formation you always see the same results, although most times the BUYERS win with a run to the nearest pivot, the reality is you do see drops with the same formation but not only is it rare but it is always started off by one specific candle.
its not much of a breakout but technically even that small amount it appears visually to be a breakout
  • #20,677
  • Edited 6:20pm Aug 29, 2016 2:57pm | Edited 6:20pm
Quoting rmrf
{quote} its not much of a breakout but technically even that small amount it appears visually to be a breakout
Well the reality is a "Breakout" on the smaller tf isn't the same as a "breakout" on the higher tf, but you can see that my entries were really good, and although I was stacking orders for the sell, the reality is I stuck to my money management and trade management and this is the results I got!
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Attachment
@GJscalper I've turned a new leaf. No more trolling.
  • #20,678
  • Aug 29, 2016 3:07pm Aug 29, 2016 3:07pm
Quoting raiders
{quote} Maybe. I think that entire recent up move was nothing but an ABC correction of the larger daily downtrend. My reasoning is pretty simple. The down move was fast and impulsive the up move was choppy and slow. So, while it is true, we have been getting higher highs and higher lows, the highs are corrective. If we took the D timeframe and replaced it with say 30M or hourly im sure everyone would be saying the same thing. Anyways, my plan is not to ride it down the entire way with a full position. I plan on loading up at nice reject and holding...
thank you for the reply its a very good way to trade and good luck .
  • #20,679
  • Aug 29, 2016 4:19pm Aug 29, 2016 4:19pm
Quoting GJscalper
{quote} I have a question about your chart.... What made you connect the fibs (the last connection) the way you did? I ask you that because it perfectly has bounced off of the 50 fib, but of course that doesn't mean that it won't work its way back. Fib connections are super objective, but I think people don't connect them with some set of "rule" Look at your chart, I would say that once the last leg up was met with a red candle which engulfed the HIGH, then you connected the low of the move up with the high of the last green candle which was engulfed....
Good question for a NOOB
He connect the last 2 pivots.
I hope you know what is a pivot.
  • #20,680
  • Aug 29, 2016 4:45pm Aug 29, 2016 4:45pm
adding sell stops down into these levels, that we are almost sure to revisit.
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