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Dragon Riders GBP/JPY

  • #21,641
  • Sep 20, 2016 6:07pm Sep 20, 2016 6:07pm
we are in the buy zone at least for 3 waves up to enter the buy trade we go to a smaller time frame where sloss is minimum for a position trader the sloss is 130 the 161.8 ext
Attached Image (click to enlarge)
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  • #21,642
  • Sep 20, 2016 6:12pm Sep 20, 2016 6:12pm
Quoting Toofar
What's happens to GJ at the opening of the Autralian market. Why so much volatility?
I haven't seen any volatility at all during Aussie market. Market will more than likely remain dead flat until BOJ and/or FOMC I would consider going long on GJ as the move up is the least expected and it is revealed by the massive shorting which is going on in both EJ and GJ.
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  • #21,643
  • Sep 20, 2016 6:19pm Sep 20, 2016 6:19pm
Attached Image (click to enlarge)
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target133.87 and t2 135
  • #21,644
  • Sep 20, 2016 6:20pm Sep 20, 2016 6:20pm
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM5.png Size: 32 KB

this is the chart maaaaaaaaaaaaan
  • #21,645
  • Sep 20, 2016 7:26pm Sep 20, 2016 7:26pm
Tentative forexfactory says is BOJ announcement. Has anyone heard anything concrete about the time?
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  • #21,646
  • Sep 20, 2016 7:47pm Sep 20, 2016 7:47pm
Quoting TicoForex
Tentative forexfactory says is BOJ announcement. Has anyone heard anything concrete about the time?
BOJ timings seem to always be fluid.
Yesterday fx street was showing to be 11am Singapore time for release of the policy statement.
now it's back to n/a

no clue man ...
  • #21,647
  • Sep 20, 2016 7:59pm Sep 20, 2016 7:59pm
the risk was 30 pips now its 20 @ 131.7
  • #21,648
  • Sep 20, 2016 8:32pm Sep 20, 2016 8:32pm
Quoting openyoureyes
{quote} I think you are wrong, this is no price floor because there is no support present (for GU and GJ / UJ may push GJ a bit before news) let the pips coming. TP: 130.8 my "price floor": 131.2 I'll set SL there when we are there... {image}
What I mean by floor is the price that support the downside. Hence, down move won't be exceed 1.2760 for GJ. Same goes with UJ. It won't exceed 0.9875. In my upcoming long entry, my SL will be below these levels.

I am on short and will exit at 130.5
  • #21,649
  • Sep 20, 2016 8:38pm Sep 20, 2016 8:38pm
Quoting MrsTrader
{quote} BOJ timings seem to always be fluid. Yesterday fx street was showing to be 11am Singapore time for release of the policy statement. now it's back to n/a no clue man ...
Good evening. I am new to the website, however, not new to forex and I simply came here to ask the same question which you've answered. Every time BOJ does this kind of thing, I sit on my hand. I reckon most of us Yen traders will wait for FOMC?

Awaiting your response Goldgirl or anyone for that matter.
Let us talk forex.
  • #21,650
  • Sep 20, 2016 8:40pm Sep 20, 2016 8:40pm
Quoting nawafasad1
{image} this is the chart maaaaaaaaaaaaan
Good evening,
I am a higher tf trader, now starting to look at lower tf, However your chart has taken my interest as you have used fibs. My question to you would be "Why or how did you determine to connect the fibs as you did?"
Let us talk forex.
  • #21,651
  • Sep 20, 2016 8:42pm Sep 20, 2016 8:42pm
Quoting Mpt
{quote} There was a person on this forum who fervently believed in the fundamental side of things. He remained long from 187, but even after hedging attempts, had to close at 165. He lost close to US$1 Million. At 166 this could have been a correction (I called for 168 when at 187).At 154 this could have been a correction. Honestly, when does this stop being a correction? In the case of Pound Sterling, you just don't fall out of a 24~25 year sideways move and still call it a correction. When Pound Yen fell out of 154 and undid a 25 years of sideways...
Would it be safe to say that the word "correction" is a term used by those who decide to ignore "Price action"?
Let us talk forex.
  • #21,652
  • Sep 20, 2016 8:44pm Sep 20, 2016 8:44pm
Quoting Prospect
{quote} Good evening. I am new to the website, however, not new to forex and I simply came here to ask the same question which you've answered. Every time BOJ does this kind of thing, I sit on my hand. I reckon most of us Yen traders will wait for FOMC? Awaiting your response Goldgirl or anyone for that matter.
As far as GJ goes, I think for today, BOJ event will impact it much more than FOMC - just my personal opinion. So I'd still be more anxious over BOJ than FOMC since I am not holding any UJ positions. Will be checking news like crazy from 11am (SG time) onwards.
  • #21,653
  • Sep 20, 2016 8:49pm Sep 20, 2016 8:49pm
Quoting MrsTrader
{quote} As far as GJ goes, I think for today, BOJ event will impact it much more than FOMC - just my personal opinion. So I'd still be more anxious over BOJ than FOMC since I am not holding any UJ positions. Will be checking news like crazy from 11am (SG time) onwards.
Understood and thank you very much for your reply. I too will set my alarm clock for the which you have mentioned. I will keep lot sizes 10x smaller than normal incase I am on the wrong side of the spike. I also see you are a senior member in this thread Goldgirl. I am reading through all of your post as we speak.
Let us talk forex.
  • #21,654
  • Sep 20, 2016 9:15pm Sep 20, 2016 9:15pm
Quoting Prospect
{quote} Good evening. I am new to the website, however, not new to forex and I simply came here to ask the same question which you've answered. Every time BOJ does this kind of thing, I sit on my hand. I reckon most of us Yen traders will wait for FOMC? Awaiting your response Goldgirl or anyone for that matter.
unlike other central banks, BOJ meetings are live. meaning they meet/discuss/debate on the same day followed immediately by the release. as such it is impossible to give a specific time.

a rule of thumb. the longer the meeting takes, ie the later the conference, usually implies disunity and major implements on the way.
  • #21,655
  • Sep 20, 2016 9:25pm Sep 20, 2016 9:25pm
Quoting Prospect
{quote} Good evening, I am a higher tf trader, now starting to look at lower tf, However your chart has taken my interest as you have used fibs. My question to you would be "Why or how did you determine to connect the fibs as you did?"
good evening I ll let the chart talk
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 39 KB

I took the fib levels from the start of the waves to the high as I see 5 waves to form the first leg
  • #21,656
  • Sep 20, 2016 10:06pm Sep 20, 2016 10:06pm
A quick drop on GBP/JPY and EUR/JPY followed by a recovery.
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  • #21,657
  • Edited 11:07pm Sep 20, 2016 10:20pm | Edited 11:07pm
Careful with the sudden high volatility there. Gamblers just made the price go down 40 pips and brought it up again soon after. Using big TF might reduce the risk a lot.
  • #21,658
  • Sep 20, 2016 10:25pm Sep 20, 2016 10:25pm
36 traders viewing and no one chatting lol .... we're all waiting anxiously
  • #21,659
  • Sep 20, 2016 10:35pm Sep 20, 2016 10:35pm
Playing with Cost averaging no SL-- had 240 pip at pivot S1 but that was not my target.

Going to close them soon.
Attached Image (click to enlarge)
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Dragon Rider
  • #21,660
  • Sep 20, 2016 10:48pm Sep 20, 2016 10:48pm
This 113.553 for EJ and 132.10 for GJ is massive resistance. It looks like they are faking it towards this price in order to pull the plug on it.
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