Now long from 137.38
Attempting to fade the news
Dangerous... but so is bombing people when you're told not to
Attempting to fade the news
Dangerous... but so is bombing people when you're told not to
Dragon Riders GBP/JPY
- #23,722
- Edited 10:11pm Apr 6, 2017 9:43pm | Edited 10:11pm
- Joined Nov 2009 | Status: Trader | 2,582 Posts
- #23,726
- Apr 7, 2017 12:59am Apr 7, 2017 12:59am
- Joined Jan 2010 | Status: The Voodoo Boodoo Club | 42,046 Posts
Anything can be blamed ,,,,,,guess I would blame the failure at the quarterly open,,, then at the weekly pivot , then the next one with that having a nice 15 minute bear flag pattern that was a top at a trendline with a projection near last weeks low ,,,,,all in the works before any military action ,,,,,,just saying,,cheers all. 
- #23,728
- Edited 2:44am Apr 7, 2017 2:32am | Edited 2:44am
- Joined Nov 2009 | Status: Trader | 2,582 Posts
- #23,732
- Apr 7, 2017 7:00am Apr 7, 2017 7:00am
- | Joined Jan 2010 | Status: forextradestoamillion | 527 Posts
I have closed the last short for about a 50 gbp loss, which is 1.5% of my account. I have then reversed to a long, with a goal of 42 pips, which is why I have taken a .1 buy and should it pull back 20 pips, i will enter into another long of .1 lot. What I am hoping for is another wave down before the price moves up to the resistance daily 1 as that would cause a massive drop in GBP/JPY allowing me to risk 5-15% of my account to earn the same amount. Those are the large equity spikes you see on my equity curve. Every 3-4 days the perfect formation...
I'll pick up the crumbs don't need the whole pie
{quote} I hope what you read in this thread didn't influence your mind to switch, like I said earlier there are really no clear directions, but it's been ranging in this 150 pip area from 137.30 to 138.80 back to 137.30 since Tuesday, it will wither break the range and go down... or it will head back up and break the range or in an extreme case it will head back down... confusing..
I don't think anyone's charts nor opinion has allowed me to change my mind. I always have a main plan and 2 back up plans when trading this pair, but sadly, today is NFP, and although I am long at this moment, it may drop 100-150 pips in 1 min only to reverse back up. Price action during NFP, sure is a conundrum, which is why I respect it and decide to stay out.
Although what you have mentioned is true about GJ trading in a 150 pip range, but you can see, I trade for about 20-40 pips at a time. A range of 150 pips, is like a 1000-2000 pips range, based on me moving up and down on time frames.
I'm your unknown friend!
- #23,736
- Apr 7, 2017 7:43am Apr 7, 2017 7:43am
- Joined Nov 2009 | Status: Trader | 2,582 Posts
{quote} Thanks for answering. 6 mins more for fire works.
I just closed those massive shorts on GBP/JPY. The formation is still intact, but having been green by so much, I preferred to take the profit. If the price reaches back to the hourly high, i will reenter with the short! Price should hit 136. 767 before moving up to 137.846
I'm your unknown friend!
- #23,740
- Apr 7, 2017 11:31am Apr 7, 2017 11:31am
- | Joined Dec 2008 | Status: revisit | 1,896 Posts
On my watch list...for next Monday (April 10, 2017).
