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Dragon Riders GBP/JPY

  • #21,961
  • Oct 4, 2016 4:40am Oct 4, 2016 4:40am
This hour needs to hold 130.50/55 on a closing basis, or the lows will be in focus again in my opinion...
  • #21,962
  • Oct 4, 2016 5:08am Oct 4, 2016 5:08am
Quoting TheDudeFx
I've taken a long in my test account at 130.58, near last weeks London open, and if we could clear this weeks open, at 130.73, I'd like to think there is a chance we move up and test 131.70, last weeks London 17:00 close...its early enough in the week... {image}
Hang tight looks like a good one, took the same trade but spooked myself out, closed half and the rest hit my greedy BE+
Attached Image (click to enlarge)
Click to Enlarge Name: c GBPJPY 1m done.png Size: 23 KB
  • #21,963
  • Oct 4, 2016 5:25am Oct 4, 2016 5:25am
Quoting Kissa
{quote} Hang tight looks like a good one, took the same trade but spooked myself out, closed half and the rest hit my greedy BE+ {image}
cable just cant find a bottom right now, but I'll give it some room, and stick to the plan....just demmo anyway..
  • #21,964
  • Oct 4, 2016 9:09am Oct 4, 2016 9:09am
GBP/JPY M5 Short Trade

I didn't get a chance to post this Trade before the TP was reached.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4th Oct 16 GBP:JPY M5 Short Trade.png Size: 133 KB
Click to Enlarge Name: 4th oct 16 M5 GBP:JPY Short Trade Result.png Size: 114 KB
  • #21,965
  • Oct 4, 2016 3:53pm Oct 4, 2016 3:53pm
Quoting hierro-scalp
{quote} Are you serious 139? That could need 2 month sis
Not necessary for dragon beast.
  • #21,966
  • Oct 4, 2016 3:53pm Oct 4, 2016 3:53pm
Quoting 4xNewGuy
{quote} I'm not paying too much attention to the news. It's only construction. The Services PMI is the one to watch. That sector is their biggest one.
when watching for the PMI , what are you looking for?
  • #21,967
  • Oct 4, 2016 9:22pm Oct 4, 2016 9:22pm
Quoting goldgirl
{quote} Not necessary for dragon beast.
yep two months ago, I saw 160......fall to 133 in one day....true story
  • #21,968
  • Oct 4, 2016 10:59pm Oct 4, 2016 10:59pm
Quoting TheDudeFx
{quote} cable just cant find a bottom right now, but I'll give it some room, and stick to the plan....just demmo anyway..
IMO looks like GBP index is asking for a move, I doubt it can just go flat at this time, JPY looks like it could continue south.
https://www.mataf.net/en/forex/tools/currency-index
  • #21,969
  • Oct 4, 2016 11:31pm Oct 4, 2016 11:31pm
The moment before I can step outside, such a nice day.
Might trade the news in a few hours.
Attached Image
  • #21,970
  • Oct 4, 2016 11:49pm Oct 4, 2016 11:49pm
Quoting Kissa
{quote} IMO looks like GBP index is asking for a move, I doubt it can just go flat at this time, JPY looks like it could continue south. https://www.mataf.net/en/forex/tools/currency-index
yep,cable going to the trash..

Cheers

Al.
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #21,971
  • Oct 4, 2016 11:58pm Oct 4, 2016 11:58pm
It isnt always pretty..but cost averaging makes the long waits more fun.

+102 pips ...

ONE observation for everyone..

When GBP/JPY trends it moves in 4 to 5 waves... price will usually reverse on wave 4

I hope this helps you
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM188.png Size: 68 KB
Dragon Rider
  • #21,972
  • Oct 5, 2016 11:03am Oct 5, 2016 11:03am
Quoting stevepatt
GBP/JPY M5 Short Trade I didn't get a chance to post this Trade before the TP was reached. {image} {image}
Hi StevePatt,

may I ask where you ve got this great indicator from? I love this and your design, very clean and solid! Great work!
  • #21,973
  • Oct 5, 2016 12:09pm Oct 5, 2016 12:09pm
Quoting suitup
{quote} Hi StevePatt, may I ask where you ve got this great indicator from? I love this and your design, very clean and solid! Great work!

Hi Suitup,

Here's the Indicator I have it set to "Amplitude #4" on the M5 Chart.

Remember it's not the Indicator that counts.

It's being able to recognise the Structure of the Market ,PA and having Room to Trade into make sure you can hit your TP before reaching the nearest Swing High/Low.
Attached File(s)
File Type: mq4 HalfTrend-1.02.mq4   6 KB | 502 downloads
  • #21,974
  • Oct 5, 2016 12:25pm Oct 5, 2016 12:25pm
Quoting stevepatt
{quote} Hi Suitup, Here's the Indicator I have it set to "Amplitude #4" on the M5 Chart. Remember it's not the Indicator that counts. It's being able to recognise the Structure of the Market ,PA and having Room to Trade into make sure you can hit your TP before reaching the nearest Swing High/Low. {file}
Awesome, thanks for sharing! However I think i made a wrong expression with indicator. I was referring to your risk reward shown on the chart.
Could you please advice me on this?
Many thanks!
I have been following you as a reader quite a while!
Keep up this great work!
  • #21,975
  • Oct 5, 2016 12:50pm Oct 5, 2016 12:50pm
Quoting suitup
{quote} Awesome, thanks for sharing! However I think i made a wrong expression with indicator. I was referring to your risk reward shown on the chart. Could you please advice me on this? Many thanks! I have been following you as a reader quite a while! Keep up this great work!
Hi Suitup,

I have adapted my Fib Tool to Show my Entry, Stop Loss and R Factor.

I've found a Maximum Stop Loss of 15 pips and a Take Profit of 30 pips (2R) works well the way I Trade.

It also suits my personality, I hate seeing a 2R Trade revert back to BE or worse.

If the Market continues moving I can re-enter.
  • #21,976
  • Oct 5, 2016 7:03pm Oct 5, 2016 7:03pm
Closed some long term trades that were bothering me +140

Short +60 -- Quasimodo entry the GOAT pattern.

There is alot more room downwards...I might re entry
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM5888.png Size: 69 KB
Dragon Rider
  • #21,977
  • Oct 5, 2016 9:08pm Oct 5, 2016 9:08pm
Quoting Gbp/jpy
{quote} yep two months ago, I saw 160......fall to 133 in one day....true story
GBP is very sensitive to news. After the news, sentimental gone, fundamental will take charge.

The fundamental economy of England isn't that bad. Especially after it makes friend with China, greater potential await England.
  • #21,978
  • Oct 5, 2016 9:32pm Oct 5, 2016 9:32pm
dont worry. It will fall till end of friday this week. Next week you will see the spike upward.
  • #21,979
  • Oct 5, 2016 9:43pm Oct 5, 2016 9:43pm
Quoting datdle
dont worry. It will fall till end of friday this week. Next week you will see the spike upward.

Hi Datdle,

So, what do you base that statement on?

I can't predict the Market beyond 5 minutes let alone a week
  • #21,980
  • Oct 5, 2016 9:54pm Oct 5, 2016 9:54pm
Quoting goldgirl
{quote} GBP is very sensitive to news. After the news, sentimental gone, fundamental will take charge. The fundamental economy of England isn't that bad. Especially after it makes friend with China, greater potential await England.
So it could be rise up to 136 in this two day
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