Dragon Riders GBP/JPY | Page 1216 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/JPY

Similar Threads

Enter The Dragon - GBP/JPY 2 replies

Info on the Borihei-Dragon Scalping System? 15 replies

The Dragon 441 replies

Scalping The Dragon 34 replies

***Dragon II*** 15 replies

Attachments: Dragon Riders GBP/JPY
Exit Attachments

Dragon Riders GBP/JPY

  • #24,301
  • Jun 13, 2017 3:22pm Jun 13, 2017 3:22pm
Quoting vk79
I will wait for 142 to sell.
I suppose your are long, then?
  • #24,302
  • Jun 13, 2017 5:28pm Jun 13, 2017 5:28pm
Quoting Mr Breakout
{quote} I suppose your are long, then?
No positions. Will wait for it to get there.
  • #24,303
  • Jun 13, 2017 6:13pm Jun 13, 2017 6:13pm
Hi guys

here is my trade and view for the dragon...
the picture tell you all
but be cautions tomorrow is RED NEWS day all day so trade carefully
good luck
Alex
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH4.png Size: 147 KB
Stay GREEN my friends........
  • #24,304
  • Jun 13, 2017 6:28pm Jun 13, 2017 6:28pm
Quoting vk79
{quote} No positions. Will wait for it to get there.
I understand.

But if you are convinced it will go there, shouldn't you be long, and then short when it does reach that level?
  • #24,305
  • Jun 13, 2017 7:09pm Jun 13, 2017 7:09pm
Quoting vk79
Hello all, I started trading GBP/JPY recently. So far so good. Wondering if there are any scalpers here.
Quoting vk79
I see 141.15 - 141.50 as sell zone. What do you guys think? 4hr chart {image}
My 4H chart is similar to yours. I added a 50ema to mine because it looks like you have either that or a 50sma. I used 50ema in the past while day trading.

I would expect a tradeable bounce from that area when (and if) it gets there. I like the horizontal resistance and the 50ema in confluence. You'll also be trading in the direction of the 4H trend (IMO).

It's nice to see you have the patience to wait it out. I suspect it will head north again after that initial bounce, but it should be good for a scalp. The top of the channel looks like another good opportunity.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY-H4.png Size: 22 KB
  • #24,306
  • Jun 13, 2017 7:17pm Jun 13, 2017 7:17pm
GBP/JPY is currently having a hard time breaking through that 140.40 area.

That's a good sign, that means the breakout to the upside is going to be huge, so watch out you short sellers out there...
  • #24,307
  • Jun 13, 2017 7:23pm Jun 13, 2017 7:23pm
Tomorrow, we will have great events, mainly from USA, what will be the impact in GBP/JPY?
  • #24,308
  • Jun 13, 2017 7:24pm Jun 13, 2017 7:24pm
Quoting lalves
Tomorrow, we will have great events, mainly from USA, what will be the impact in GBP/JPY?
It will go up, of course, wink wink!

Alright, enough Forex for today, I am going out for a Sushi.
  • #24,309
  • Jun 13, 2017 7:31pm Jun 13, 2017 7:31pm
Good Sushi for you.
I' m tired too, I' m go to sleep. Tomorrow we will have a great day!
  • #24,310
  • Jun 13, 2017 9:31pm Jun 13, 2017 9:31pm
Quoting Mr Breakout
{quote} I understand. But if you are convinced it will go there, shouldn't you be long, and then short when it does reach that level?
Hi Mr. Breakout

I am a scalper, also new to GBPJpy. Its very difficult for me to hold positions to hold positions longer but I am trying to move away from scalping.
I usually trade NY session 9 am est to sometime in the afternoon like 2pm.
  • #24,311
  • Jun 13, 2017 9:36pm Jun 13, 2017 9:36pm
Quoting Pips_Cruiser
{quote} {quote} My 4H chart is similar to yours. I added a 50ema to mine because it looks like you have either that or a 50sma. I used 50ema in the past while day trading. I would expect a tradeable bounce from that area when (and if) it gets there. I like the horizontal resistance and the 50ema in confluence. You'll also be trading in the direction of the 4H trend (IMO). It's nice to see you have the patience to wait it out. I suspect it will head north again after that initial bounce, but it should be good for a scalp. The top of the channel looks...
Yellow MA on my chart is 50 ema. Its not patience but impatience as cannot hold positions longer. That is the reason I am a scalper. Recently I started concentrating on GbpJpy as I found it be very good for scalping. I am trying to change trading style so that I can hold positions for more pips.
  • #24,312
  • Jun 13, 2017 9:41pm Jun 13, 2017 9:41pm
Quoting Pips_Cruiser
{quote} {quote} My 4H chart is similar to yours. I added a 50ema to mine because it looks like you have either that or a 50sma. I used 50ema in the past while day trading. I would expect a tradeable bounce from that area when (and if) it gets there. I like the horizontal resistance and the 50ema in confluence. You'll also be trading in the direction of the 4H trend (IMO). It's nice to see you have the patience to wait it out. I suspect it will head north again after that initial bounce, but it should be good for a scalp. The top of the channel looks...
I think it might go down from the middle line and form the right shoulder to complete a inverse head and shoulder and afterwards break this bull flag up.
Multiple SMA Trader
  • #24,313
  • Edited Jun 14, 2017 12:04am Jun 13, 2017 10:01pm | Edited Jun 14, 2017 12:04am
Quoting vk79
I am trying to move away from scalping.
Hi,

It is extremely hard to make a living (or even just earn some beer money) scalping the Forex spot market.
The odds against you are overwhelming, even if your FX broker is totally honest.

And I am not even talking about the intense stress that this activity brings about every single day, unless you have some magical and high performing robot/EA that will do all the work for you (and in that case rest assured that your friendly FX broker will notice it and take the... hmmm... "appropriate measures"...).

I strongly suggest you swing trade the market instead, or at least day-trade.

Quoting vk79
also new to GBPJPY
All these currency pairs react to the same greed/fear mentality basically, at least in the short term.

In the long term the fundamentals prevail, as always, because unlike a company, a country (let's say the UK, Australia or Canada) cannot change its economy overnight, these things take years and years, that's why the Forex market trends so well.
  • #24,314
  • Jun 14, 2017 1:20am Jun 14, 2017 1:20am
148.00 is underway.

Great opportunity for a big trade right now, in my opinion.
  • #24,315
  • Jun 14, 2017 1:35am Jun 14, 2017 1:35am
For extra confirmation, if you see breaking 141.00, then it's safe to assume 148.00 is coming.
  • #24,316
  • Jun 14, 2017 2:27am Jun 14, 2017 2:27am
Quoting Mr Breakout
Bought GBP/JPY at 140.27, 40 pip stop.
+50 pips, moving stop to break-even.
  • #24,317
  • Jun 14, 2017 2:47am Jun 14, 2017 2:47am
Quoting vk79
Hello all, I started trading GBP/JPY recently. So far so good. Wondering if there are any scalpers here.
Hi VK. I wouldn't regard myself as I scalper, but I do trade off of smaller time frames than most people, so entering trades on a 15 second chart using the higher time frames for the set ups and to give me my S&R. See my thread ' Trader's Academy ', where I've posted quite a few charts. My rationale for trading the smaller time frames is that it simply offers many more trades during the day, especially if the price is ranging, but also, if well timed, I can get optimal entries using a stop loss of around 15 pips, even on this pair.
  • #24,318
  • Jun 14, 2017 2:55am Jun 14, 2017 2:55am
Quoting FastPipn
Long 140.136 Target 140.837
target reached.

Re-enter Long 140.777 Target 141.300
Just 20 pips a day to riches
  • #24,319
  • Edited 5:13am Jun 14, 2017 4:21am | Edited 5:13am
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 4 KB

GJ closed -3 pips bad luck
Exits == most important part of your strategy
  • #24,320
  • Jun 14, 2017 7:41am Jun 14, 2017 7:41am
Quoting Mr Breakout
{quote} Hi, It is extremely hard to make a living (or even just earn some beer money) scalping the Forex spot market. The odds against you are overwhelming, even if your FX broker is totally honest. And I am not even talking about the intense stress that this activity brings about every single day, unless you have some magical and high performing robot/EA that will do all the work for you (and in that case rest assured that your friendly FX broker will notice it and take the... hmmm... "appropriate measures"...). I strongly suggest you swing trade...
Thanks Mr B. I understand the odds, stress etc. That I why I am trying to get away from it. I am looking to find a method I can depend on for swing trading. I have many limitations like access to good FX brokers(I live in USA), can't trade london session etc.
I will keep following this thread.
61 traders viewing now