Attachments: Dragon Riders GBP/JPY

Dragon Riders GBP/JPY

#22,801
Dec 13, 2016 2:58am Dec 13, 2016 2:58am

Noors
| Joined Apr 2016 | Status: Trader | 473 Posts

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#22,802
Dec 13, 2016 3:30am Dec 13, 2016 3:30am

Noors
| Joined Apr 2016 | Status: Trader | 473 Posts

Quoting Noors

Disliked

{quote} Just following what the system says, ofcourse I could be wrong, but my system says if price breaks 145.55 next level is 146.6 might or might not reach there if it holds that level then I will feel more safe to short it regardless of what resistance its at theres no signs of the bulls pulling out or locking in profits maybe soon but not yet

Ignored

AND THERE IT IS too bad I got out at 146.25

#22,803
Dec 13, 2016 9:41am Dec 13, 2016 9:41am

Gigant
Joined Dec 2016 | Status: TALENTED | 369 Posts

Quoting Gigant

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scalp some money {image}

Ignored

mission complete

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#22,804
Dec 13, 2016 11:34am Dec 13, 2016 11:34am

Gigant
Joined Dec 2016 | Status: TALENTED | 369 Posts

long

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#22,805
Dec 13, 2016 12:17pm Dec 13, 2016 12:17pm

hugomarques
Joined Aug 2014 | Status: Trader | 354 Posts

Dragon is predictable, support and silly resistances

#22,806
Dec 13, 2016 5:58pm Dec 13, 2016 5:58pm

Gbp/jpy
Joined Nov 2007 | Status: CHART HACKER | 2,454 Posts

sellin 145.88 for 144

#22,807
Edited 10:20pm Dec 13, 2016 9:04pm | Edited 10:20pm

Mpt
Joined Nov 2009 | Status: Trader | 2,582 Posts

This has always been a big place. Once for a major drop in 2012, another time in 2012 for a significant rise. So says horizontal resistance.

Circular resistance also says that this is very big and concurs with straight TLs below.

Straight trend lines pre Scottish referendum, post ref and fall thereafter all arrive pretty much in this place. 189 top with 180 bottom TL arrives here. 196 tl meeting 174 and 163.5 arrives here too.

Above here there's technical resistance galore, but nothing unbreakable. ~~In the case of the Tls, break one in this place and you break 'em all~~. They all arrive over a 100 pip area. The area in which GJ is trading.

#22,808
Dec 14, 2016 2:42am Dec 14, 2016 2:42am

kami123123
| Joined Sep 2013 | Status: Trader | 50 Posts

Any recent thoughts please, have a sell running from 145.60

#22,809
Dec 14, 2016 3:11am Dec 14, 2016 3:11am

dogooder
| Joined Sep 2016 | Status: Trader | 7 Posts

Quoting kami123123

Disliked

Any recent thoughts please, have a sell running from 145.60

Ignored

Weeell it seems it's going up for now and 145.60 would've been a comfortable long entry. Just make sure you're using a stop loss at 146.00 perhaps.

#22,810
Dec 14, 2016 4:08am Dec 14, 2016 4:08am

jolaus
| Joined Jun 2016 | Status: Trader | 34 Posts

m5 200 ema acting as good resistance. but keeping an eye on 146.30 for a better sell entry.

#22,811
Dec 14, 2016 4:16am Dec 14, 2016 4:16am

Mpt
Joined Nov 2009 | Status: Trader | 2,582 Posts

Quoting jolaus

Disliked

m5 200 ema acting as good resistance. but keeping an eye on 146.30 for a better sell entry.

Ignored

Maybe you should dump the 5 min chart totally and just watch the daily. Then you might have a tiny chance of sucess

#22,812
Dec 14, 2016 4:22am Dec 14, 2016 4:22am

jolaus
| Joined Jun 2016 | Status: Trader | 34 Posts

Quoting Mpt

Disliked

{quote} Maybe you should dump the 5 min chart totally and just watch the daily. Then you might have a tiny chance of sucess

Ignored

so do you mean only D1 has chances of success?

#22,813
Dec 14, 2016 4:52am Dec 14, 2016 4:52am

Mpt
Joined Nov 2009 | Status: Trader | 2,582 Posts

Quoting jolaus

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{quote} so do you mean only D1 has chances of success?

Ignored

Whilst I sounded a bit terse, I mean that if you watch the daily (or weekly candle) you will often get a better overview of what's really happening. Lower time frame charts not only provide clutter, but can very often give a completely wrong impression. It means that if you adopt a little bigger view, you may win a little more and lose a little less. It also means that you MUST trade smaller, whilst accepting a relatively large margin for price to go against you. For example, 100 pips out should be slightly annoying, but not distressing.

#22,814
Dec 14, 2016 5:14am Dec 14, 2016 5:14am

jolaus
| Joined Jun 2016 | Status: Trader | 34 Posts

Quoting Mpt

Disliked

{quote} Whilst I sounded a bit terse, I mean that if you watch the daily (or weekly candle) you will often get a better overview of what's really happening. Lower time frame charts not only provide clutter, but can very often give a completely wrong impression. It means that if you adopt a little bigger view, you may win a little more and lose a little less. It also means that you MUST trade smaller, whilst accepting a relatively large margin for price to go against you. For example, 100 pips out should be slightly annoying, but not distressing....

Ignored

thanks for sharing mate. while i don't disagree on larger time frames, but I think each TF is equally important as long as one knows how to measure one's objective in the respective TF.

I do not have a fresh reason to buy this pair, so I'll be looking to position myself in shorts, just concerned about a good entry point. To me, the daily and weekly is showing some signs of exhaustion; in my charts, today's daily candle has broken below yesterday's low, this week's candle couldn't sustain above last week's high.

My M5, M15 and H1 charts are all showing signs of waning momentum. Did give decent intraday trade options here.

#22,815
Dec 14, 2016 8:17am Dec 14, 2016 8:17am

aymansalah
| Joined Sep 2008 | Status: Humble learner | 26 Posts

Would like to point out that the dragon yesterday has made a 61.8% correction to the pip from pre-brexit highs at 160.08 to post brexit low 124.81.

The question is :

Would you consider today's drop to ~145.2 a valid rebound with an upcoming retest of the high (high probability IMHO) and continuation higher > 146.6 (low probability)?

OR

a drop to the next 50 % fibo level at 142.4 is upcoming??

#22,816
Dec 14, 2016 9:31am Dec 14, 2016 9:31am

Gbp/jpy
Joined Nov 2007 | Status: CHART HACKER | 2,454 Posts

Daily fibo from the June 1 drop......buy a little bit not being greedy like me and hold it......hey take a selfie with the screen and you smiling....put the pic on the mantle tonite....he...he

#22,817
Dec 14, 2016 9:33am Dec 14, 2016 9:33am