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Dragon Riders GBP/JPY

  • #21,221
  • Sep 6, 2016 9:23am Sep 6, 2016 9:23am
if can close at 137.45, then looking to short all the way
Let Market Tell You
  • #21,222
  • Sep 6, 2016 9:26am Sep 6, 2016 9:26am
Quoting amoc
{quote} hope you have enough margin to ride it out to 135.xxx
I donīt hold too much. Even in minus, when in doubt I close and fight another day.




.
  • #21,223
  • Sep 6, 2016 9:28am Sep 6, 2016 9:28am
Quoting guesser
{quote} they are not satisfied yet ... they want more stops ... those big boys are greedy
this is ethnic cleansing...the big boys are surely having a feast right now.
  • #21,224
  • Sep 6, 2016 9:32am Sep 6, 2016 9:32am
Quoting amoc
{quote} this is ethnic cleansing...the big boys are surely having a feast right now.
Yep.
Seems they are satisfied for now, 137 seems hold
"You may say I am a dreamer .... but I am not the only one."
  • #21,225
  • Sep 6, 2016 9:33am Sep 6, 2016 9:33am
From fundamental point of view, the news are better 3 times in a row. The supports for GBP have been pretty strong recently. This bear smack was caused by a lot weaker than forecasted USD's ISM Non-Manufacturing PMI actual number. GBP is still strong, it's just that JPY has received more support than GBP in this event. The decisive news for GBP movement will be on Wednesday. Key support level can be found at 136.80 - 137.10.
  • #21,226
  • Sep 6, 2016 9:36am Sep 6, 2016 9:36am
Quoting edyraper
{quote} I really like your songs.

Haha me too! ;P


Im holding a long position and I can handle about 400 pips down with my balance (Small account for learning), do you guys think I should hold?

Btw, I trade at my own risk I know I just want your opinions


Sia
  • #21,227
  • Sep 6, 2016 9:37am Sep 6, 2016 9:37am
Quoting JJSerrault
From fundamental point of view, the news are better 3 times in a row. The supports for GBP have been pretty strong recently. This bear smack was caused by a lot weaker than forecasted USD's ISM Non-Manufacturing PMI actual number. GBP is still strong, it's just that JPY has received more support than GBP in this event. The decisive news for GBP movement will be on Wednesday. Key support level can be found at 136.80 - 137.10.
I give another name: Hunting Stops

"Key support level can be found at 136.80 - 137.10" .... good place to buy
"You may say I am a dreamer .... but I am not the only one."
  • #21,228
  • Sep 6, 2016 9:44am Sep 6, 2016 9:44am
Quoting guesser
{quote} I give another name: Hunting Stops
Well, I dunno if it's really the big boys' "Stop Hunting" action that caused the sudden bearish movement or not.

I've compared GBP/JPY, GBP/USD, and USD/JPY and I found that JPY received massive support at USD/JPY, more than GBP at GBP/USD. This might be the cause for the bear smack on GBP/JPY. After all, all currencies are connected in forex market.
  • #21,229
  • Sep 6, 2016 9:49am Sep 6, 2016 9:49am
Quoting Sia
{quote} Haha me too! ;P Im holding a long position and I can handle about 400 pips down with my balance (Small account for learning), do you guys think I should hold? Btw, I trade at my own risk I know I just want your opinions Sia
Carefull there it can go way down to 1,31 u never can be too sure, use hedge if u have doubts
I need the magic ball
  • #21,230
  • Sep 6, 2016 9:52am Sep 6, 2016 9:52am
Quoting JJSerrault
{quote} Well, I dunno if it's really the big boys' "Stop Hunting" action that caused the sudden bearish movement or not. I've compared GBP/JPY, GBP/USD, and USD/JPY and I found that JPY received massive support at USD/JPY, more than GBP at GBP/USD. This might be the cause for the bear smack on GBP/JPY. After all, all currencies are connected in forex market.
They have a diversified portfolio for hunting

You maybe right.
I dont know ... what I know is they made a great party ... greedy bastards
"You may say I am a dreamer .... but I am not the only one."
  • #21,231
  • Sep 6, 2016 10:01am Sep 6, 2016 10:01am
Quoting stars1985
{quote} Carefull there it can go way down to 1,31 u never can be too sure, use hedge if u have doubts

Alright, thanks!
  • #21,232
  • Sep 6, 2016 10:07am Sep 6, 2016 10:07am
yee haw looks like dragon wants to flex today
  • #21,233
  • Sep 6, 2016 10:08am Sep 6, 2016 10:08am
Quoting Sia
{quote} Haha me too! ;P Im holding a long position and I can handle about 400 pips down with my balance (Small account for learning), do you guys think I should hold? Btw, I trade at my own risk I know I just want your opinions Sia
Like stars1985 said, when in doubt, use hedge to lock either your profit or your loss. Hedge can be a double edge sword if you use it without proper knowledge, though. I learned it the hard way.
  • #21,234
  • Sep 6, 2016 10:12am Sep 6, 2016 10:12am
could be see d1
Attached Image (click to enlarge)
Click to Enlarge Name: JPY (DFB).png Size: 25 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #21,235
  • Sep 6, 2016 10:19am Sep 6, 2016 10:19am
Market moves on fear...fear of BOJ action...fear of rate hike...fear of oil price hike
Waiting and watching to see if my theory is correct :-)
  • #21,236
  • Sep 6, 2016 10:20am Sep 6, 2016 10:20am
Quoting JJSerrault
{quote} Like stars1985 said, when in doubt, use hedge to lock either your profit or your loss. Hedge can be a double edge sword if you use it without proper knowledge, though. I learned it the hard way.
Yes you're right, I have experienced some losses using hedge. But I dont think I have learned from those mistakes, do you have any suggestions where one could learn the proper way to use it?

I have gained most of my knowledge thru babypips.


Sia
  • #21,237
  • Sep 6, 2016 10:36am Sep 6, 2016 10:36am
Quoting Sia
{quote} Yes you're right, I have experienced some losses using hedge. But I dont think I have learned from those mistakes, do you have any suggestions where one could learn the proper way to use it? I have gained most of my knowledge thru babypips. Sia
Babypips has a good collection of guidance, so does DailyFx and other sources (mostly random search through internet, books, and e-books for me). Can't really remember the sources, though.
  • #21,238
  • Sep 6, 2016 10:53am Sep 6, 2016 10:53am
Quoting JJSerrault
{quote} Babypips has a good collection of guidance, so does DailyFx and other sources (mostly random search through internet, books, and e-books for me). Can't really remember the sources, though.

Ok thank you
  • #21,239
  • Sep 6, 2016 11:24am Sep 6, 2016 11:24am
Quoting JJSerrault
{quote} Like stars1985 said, when in doubt, use hedge to lock either your profit or your loss. Hedge can be a double edge sword if you use it without proper knowledge, though. I learned it the hard way.
I think most of us we learn the hard way and we still need to learn a lot
I need the magic ball
  • #21,240
  • Sep 6, 2016 11:33am Sep 6, 2016 11:33am
Sia try to study the corelation of gbp/jpy with eur/gbp and eur/jpy it can help a lot if u watch this 3 charts
I need the magic ball
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