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Dragon Riders GBP/JPY

  • #24,101
  • May 24, 2017 5:28pm May 24, 2017 5:28pm
Quoting Manquito
Hi!! Pretty new to Forex and looking for some advice. I have a short at 145.31. I already moved to BE my SL. How do you see the pair? Thanks in advance
-- Best is to trade what you see, putting an eye in important news release.

For me, pair is sideways correcting short for the moment and I am trying to get some pips from it. But general trend still long until 143.000 level is pierced down.

So, I am in a long mode from now, but as I say, due to the sideway moment, trying to get some little pips from short corrections.

My view. =)
  • #24,102
  • May 25, 2017 9:38am May 25, 2017 9:38am
Quoting bigboss
{quote} -- Best is to trade what you see, putting an eye in important news release. For me, pair is sideways correcting short for the moment and I am trying to get some pips from it. But general trend still long until 143.000 level is pierced down. So, I am in a long mode from now, but as I say, due to the sideway moment, trying to get some little pips from short corrections. My view. =)
  • #24,103
  • May 25, 2017 9:49am May 25, 2017 9:49am
Double ZigZag pattern on GJ; wave y often become normal motive waves with wave x triangle 3(3-3-3-3-3)
target price (average) around 140.5 with confluence many strong polarity and fibonacci r as support level

*gift for Muslim holy month! ~Happy Ramadan 2017
Attached Image
  • #24,104
  • May 26, 2017 1:10am May 26, 2017 1:10am
Quoting xingloon
Looking to retest the 143.3 area. Perhaps more downward moves to 142 level @ 50% fib retracement til next week. {image}
Almost hit my SL few days ago and PA dive again. Had an early close for my shorts. Looking for opportunity to re-entry short. Target level 142
Listen to the market
  • #24,105
  • May 26, 2017 6:23am May 26, 2017 6:23am
Quoting MrPresident
{quote} what a lovely short opportunity {image}
hahaha, lets see if it is possible to get 1000 pips from this
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Don't Worry Be Happy
  • #24,106
  • May 26, 2017 7:07am May 26, 2017 7:07am
Quoting FX-Petra
Wow. I did not expect such a big move today. It could reach my 143.50 target by NY close. No really big news today (economic). The stock market is getting hit pretty good. I suppose this is just a risk-off situation and the yen is appreciating. Still plenty of room to fall, from a technical perspective. Good trades to all!
Ok. reaching 143.40 (38.2 fib) took an extra 9 days, but it got there. Closed 2 lots (from 147.20) @ 143.45. Left 1 lot open to run. Not sure about a TP yet. Maybe the bottom of the range on the daily, 136.00? Daily RSI is only 43, so plenty of room left to fall. Good Trades to all!
  • #24,107
  • May 26, 2017 7:28am May 26, 2017 7:28am
Quoting MrPresident
{quote} hahaha, lets see if it is possible to get 1000 pips from this {image}
Good Day MrPresident... What's your play?
  • #24,108
  • May 26, 2017 9:08am May 26, 2017 9:08am
I'm in since 145.7 and will let it run now until my indicators on daily base shows me some other signs.
Around 138 looks like an interesting area, but would be also happy with gap close at 140. Let see...
  • #24,109
  • May 26, 2017 10:43am May 26, 2017 10:43am
I agree on that gap closing. I think the gap will close, plus a little extra downside... perhaps the 138.50 area? Good Trades to all!
  • #24,110
  • May 29, 2017 5:03am May 29, 2017 5:03am
guessing is the unwise and inappropriate action in trading. Please avoid it, guys
u make lose twice!

no 1000 pips nor gap closing instead create upside of smaller leg of second motive wave (may complete today/early tomorrow) of Y
bef. continue to turning down back as major corrective is undone yet!

speaking of my whole analysis, yes still going down before to initiate the large strong bull's trend (fist leg on/first or one of impulse's degree) around my average price 140.5 or more
  • #24,111
  • May 29, 2017 6:19am May 29, 2017 6:19am
Quoting smilemiz
guessing is the unwise and inappropriate action in trading. Please avoid it, guys u make lose twice! no 1000 pips nor gap closing instead create upside of smaller leg of second motive wave (may complete today/early tomorrow) of Y bef. continue to turning down back as major corrective is undone yet! speaking of my whole analysis, yes still going down before to initiate the large strong bull's trend (fist leg on/first or one of impulse's degree) around my average price 140.5 or more
it looks bearish due to the fundamentals from the U.K and primarily, the election in June

the Brexit process is not over yet and the market is worried about a "hard Brexit" by the looks of it
Don't Worry Be Happy
  • #24,112
  • May 29, 2017 6:45am May 29, 2017 6:45am
GBPJPY daily may be setting up something quite appealing.

The bull move I am looking at will hopefully meet support in the 142.9 - 143.0 Breakout above a prior swing high has already been tested and there were buyers there. I'm hoping there is a little more left in the bear move so that the BC measured move completes down to the 14131 area. This is also a decent support area and the worst case from the point of view of a stop would be the 14000 level, but lower timeframe price action and measured moves may give a better idea if and when the time comes. Also a >50% retracement of the prior bull move would take us to a level below 14186 which then becomes more attractive for bulls. This is also a decent support area and the worst case from the point of view of a stop would be the 14000 level, but lower timeframe price action and measured moves may give a better idea if and when the time comes.

just my 2 cent
Alex
Stay GREEN my friends........
  • #24,113
  • May 29, 2017 7:10am May 29, 2017 7:10am
This is actually what I see (which ain't worth a lick).

If anything, this might find support around the 1.4037 level or 1.618fib which represent wave C of wave 2 (check the 4hr and daily/weekly). We'll see.
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Lost....
  • #24,114
  • May 29, 2017 8:18am May 29, 2017 8:18am
With the dragon you have to be ready to trade both ways.... I'm always ready with plan B, C, and D loss recovery if trade A doesn't work out. You can't be a one directional trader you will get caught.
I'll pick up the crumbs don't need the whole pie
  • #24,115
  • May 29, 2017 9:11am May 29, 2017 9:11am
Quoting Quickiepip
With the dragon you have to be ready to trade both ways.... I'm always ready with plan B, C, and D loss recovery if trade A doesn't work out. You can't be a one directional trader you will get caught.
you can trade in one direction on this pair and it will work out only if you pick where to enter your trade correctly

scalping is what makes people lose lots of money
Don't Worry Be Happy
  • #24,116
  • May 29, 2017 2:55pm May 29, 2017 2:55pm
Quoting MrPresident
{quote} you can trade in one direction on this pair and it will work out only if you pick where to enter your trade correctly scalping is what makes people lose lots of money
if so ... which way would you say to trade now? up or down???
I'll pick up the crumbs don't need the whole pie
  • #24,117
  • May 29, 2017 6:26pm May 29, 2017 6:26pm
Never go against trend this is not eurusd. If you do not follow this simple rule, especially when going down ( never experienced anything scarier ) , can wipe your account in Seconds. Not a pair for newbies - I have seen many tears on this thread.
  • #24,118
  • May 29, 2017 9:13pm May 29, 2017 9:13pm
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chicken out , enough .
Exits == most important part of your strategy
  • #24,119
  • Edited 10:01pm May 29, 2017 9:40pm | Edited 10:01pm
Quoting edmun1388
{image} chicken out , enough .
perfect entry. i will try get in at similar levels.142.83 for short. Also 142.12 possible short in progress
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  • #24,120
  • May 29, 2017 10:29pm May 29, 2017 10:29pm
ichimoku 142.38 this is japanese session
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