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Dragon Riders GBP/JPY

  • #24,501
  • Jun 20, 2017 3:55am Jun 20, 2017 3:55am
the effect of the monetary policy on last Thursday pushed the dragon up high.... now reversed for the similar data out.... confusing...
  • #24,502
  • Jun 20, 2017 3:58am Jun 20, 2017 3:58am
Quoting Mr Breakout
The last few, die-hard short sellers are still fighting for their territory, but will soon run out of ammo.
heh I closed shortly after UK open for 40 pips on my short, looking to add more, with the big UK news coming that was rescheduled it will rise quickly and fall faster as the disappointment sets in.
  • #24,503
  • Jun 20, 2017 3:59am Jun 20, 2017 3:59am
Quoting Denden2012
{quote} Careful, you'll be buying into daily supply.
thanks for the reminder, we all should like to sell into the daily supply
  • #24,504
  • Jun 20, 2017 4:01am Jun 20, 2017 4:01am
Quoting Mr Breakout
{quote} That's why Forex is called a zero sum game (actually it's a negative game, due to transactions costs). Actually I am taking money mostly from my broker, the little sneak is betting against me. But hey, what else is new...?
nothing quite like betting against a b book broker (bucket shop), if you start beating them more, it is likely they will start sending your orders out to the real live market instead of keeping them in house.
  • #24,505
  • Jun 20, 2017 4:02am Jun 20, 2017 4:02am
Quoting rmrf
{quote} nothing happened today yet, tons of news today, red hot speakers all day in US session, easy pips, the daily chart is to big of a chart to enter trades on, if you use the daily chart to enter orders, I bet throwing darts for entries would be better, unless you are using obvious significant levels, then it doesnt matter the TF. im not a scalper, but thanks for the TAG, I could be. and the daily isn't useless, its where many of the significant levels are found, but it sure isnt the chart to enter orders on! and the goal of the swing trader...
I call that BS. Retail traders make around 3-4 percent of the market. We are irrelevant to them. The reason most of us lose money is making wrong decisions.

As one trader here says, when you lose a trade it isn't a market manipulation. It means that you are wrong.

If we all just suddenly disappeared and stopped trading, markets would barely feel that.
"Don't lose your cool, and you will fare well".
  • #24,506
  • Jun 20, 2017 4:04am Jun 20, 2017 4:04am
Quoting Mr Breakout
{quote} Brexit will only confirm the up move and send the GBP/JPY into orbit, at Mach 7 speed.
you dont keep up on the fundamentals? nothing is saying long but RT's heh
  • #24,507
  • Jun 20, 2017 4:10am Jun 20, 2017 4:10am
Quoting gespiri
I think it has to be mentioned that this is an ascending TRIANGLE, NOT and ascending WEDGE. The former guarantees a drop while the latter is more BIASED to the upside.
yeah, fear the triangle and the breakout south, oh too late! still not adding longs after this breakout south.
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  • #24,508
  • Jun 20, 2017 4:14am Jun 20, 2017 4:14am
Quoting Mr Breakout
{quote} Bank of England Governor Carney is going to trigger our miserable little stops (mine included) the minute he opens his mouth, I can feel it! If not get ready for a truckload of pips...
right again mr B! and who is that trader with a 18 pip SL? on a dragon? just giving away pips, doesnt he get HOW price moves?> most price movement is from bank traders taking the otherside of all your stops
  • #24,509
  • Edited 4:48am Jun 20, 2017 4:20am | Edited 4:48am
Quoting Guy Mann
This is what i'm looking for and have a feeling Carney may push it down to 141.60/80 before refuelling and letting it rocket up 300pips or so {image}
trade what you see, not what you imagine and dream of.

now if that looks like a long I will be a monkeys uncle! maybe after it bounces off 1.39?
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  • #24,510
  • Jun 20, 2017 4:23am Jun 20, 2017 4:23am
Quoting Mr Breakout
The market markets just printed a phony shooting star to discourage the buyers (see 5-min chart)! Yeah sure, let's all abandon our long positions and go short {image}
/me is hoping mr B took his own advice on this one! good call on the short Mr B! only 40 pips for me on the breakoput south, was hoping for more, next stop, say hello to 1.39
  • #24,511
  • Jun 20, 2017 4:26am Jun 20, 2017 4:26am
Quoting KeenPips
{quote} Eh mate! I doubt if you'll bet your trade on a 5 min signal. Trade safe and prosper. KP
that pin bar is a reversal pin as evidenced by the price action afterwards that send it spinning down 100 pips, best to be adding more shorts as it moves back up for the next step down, say hello to 139.00
  • #24,512
  • Jun 20, 2017 4:28am Jun 20, 2017 4:28am
Quoting alexpi
{quote} Well would you look at that. Sell limit and sell stop triggered {image}
what else were you expecting?
  • #24,513
  • Jun 20, 2017 4:35am Jun 20, 2017 4:35am
Quoting diana91
{quote} I call that BS. Retail traders make around 3-4 percent of the market. We are irrelevant to them. The reason most of us lose money is making wrong decisions. As one trader here says, when you lose a trade it isn't a market manipulation. It means that you are wrong. If we all just suddenly disappeared and stopped trading, markets would barely feel that.
Diana you have a vivid imagination as to how the auction market know as forex works, I am wrong alright! LOL once or twice in 3000 trades? HEH

https://www.forexfactory.com/rmrf#acct.53

wish I could show you the live accounts but I cant, the money I trade belongs to someone else ( A BANK P))

so show me how wrong I am in demo, and the bank says I am wrong too! but I just keep adding money to my account, so I am not wrong at least as it relates to making a profit in forex (thats what I do) everyday. I dont have a job outside of trading in over 6 months, I must be doing something right?
  • #24,514
  • Jun 20, 2017 4:42am Jun 20, 2017 4:42am
Quoting rmrf
{quote} /me is hoping mr B took his own advice on this one! good call on the short Mr B! only 40 pips for me on the breakoput south, was hoping for more, next stop, say hello to 1.39

Are you adding to your sell positions?
  • #24,515
  • Jun 20, 2017 4:55am Jun 20, 2017 4:55am
Quoting rmrf
{quote} that pin bar is a reversal pin as evidenced by the price action afterwards that send it spinning down 100 pips, best to be adding more shorts as it moves back up for the next step down, say hello to 139.00
Thanks mate. Only that I won't bet my trade on a 5 minute signal. I will look for the bigger picture on an HTF. It worked because the HTF order flow context/price action on was in a bearish mode. Check the below charts, for example.

Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #24,516
  • Jun 20, 2017 5:30am Jun 20, 2017 5:30am
Did I mention guppy short? I know I did, and I was certain.
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  • #24,517
  • Jun 20, 2017 5:34am Jun 20, 2017 5:34am
Quoting readpiple
{quote} Are you adding to your sell positions?
I dont add to winning positions

I prefer to enter contratrend and ride with the bloody bank, so I typically add to "losing(LOL)" positions

for example on the next one, I will demonstrate, and you can see the trades in the explorer.
  • #24,518
  • Jun 20, 2017 5:37am Jun 20, 2017 5:37am
Quoting KeenPips
{quote} Thanks mate. Only that I won't bet my trade on a 5 minute signal. I will look for the bigger picture on an HTF. It worked because the HTF order flow context/price action on was in a bearish mode. Check the below charts, for example. Trade safe and prosper. KP {image} {image}
love it KP! you know better than that heh! I may enter on the 5M or the 1M, but dont think for a moment that I dont know where we are on the D and 4H without even looking at them (I look at them so much there is an image burned in my brain), thats how I determined the direction and the significant levels
  • #24,519
  • Jun 20, 2017 5:43am Jun 20, 2017 5:43am
A picture is worth a million words :Þ
if you think I got lucky on that one tell me about how I also got lucky 97.7% of the time in my attached explorer. on almost 3000 trades.

vivid imaginations are the spice of life.
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  • #24,520
  • Jun 20, 2017 5:44am Jun 20, 2017 5:44am
Hello everyone,

Very hard and stressful trading day but finally I have managed to get out in profit around my daily target of 1% benefit. That's 17 pips and 1.44% profit. Not too bad for an intraday strategy I think.

Please check the trade explorer for figures. I think I could trade better than that , without taking the risk to go against the main trend but what it is important is the final result of the day.

I wish you all a very pleasant afternoon.

Ioan
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