What can I say? I'm a scalper/swing trader. I have to be quick on my toes....er, fingers.

Dragon Riders GBP/JPY

The chart looks like a giraffe. image

Dragon Riders GBP/JPY

Wow...it took us 20min. to go from 177.30 to 176.50.... That's one fast drop to a support. I'm going to hold onto all shorts for now. No partials, but locked in about 30 pips in profit.

Dragon Riders GBP/JPY

Based on the penetration degree, it's either 2) or 3). But I m skeptical of hitting 175.70 for now....I guess I'll just take partials and lock in profits for my shorts, maybe load a few more if we go higher again. By the way, keep up the good work, ...

Dragon Riders GBP/JPY

Added another sell limit order at 177.10 in case of another penetration. Update: Sell order got triggered, 177.00 hit. Potenial breakdown to retesting 176.50. Currently shorting from 177.50, 177.30, 177.10. SL is break even for first, others will be ...

Dragon Riders GBP/JPY

thanks, and good luck. Just remember that I'm nowhere near being the best or even close to being best trader on ForexFactory, and that you shouldn't overextend your leverage. If you keep that in mind, this should be a good trade with decent R:R.

Dragon Riders GBP/JPY

Woke up to see that my long fro 176.970 has failed (and stopped out with 15 pip loss), but sell limit at 176.800 was hit with a tP at 176.550, so that's good. Currently shorting at 177.30. Update: Added new shorts at 177.50, targeting 175.70 +/- 15 ...

Dragon Riders GBP/JPY

Oh would you look at that; 177 is broken prior to london session. Does that mean we might hit 175.70 today? Honestly, though, I don't have my hopes up. Possible, but given how erratic major pairs have been this week, meh. Small long scalp at ...

Dragon Riders GBP/JPY

Oh, this one? It's just a guess about the erratic movement of the eur/usd and its effects on neighbor currencies. It's really more of an experiment rather than a well thought out plan. Don't take it too seriously; it has a good chance of being ...

Dragon Riders GBP/JPY

After three days, target price of has been reached at 177.100 Shorted from 179.000, 178.847, and 177.831. Took profit at 177.100, gained 190 pips, 170 pips, and 70 pips on each trade respectively. First part of the hypothesis has been confirmed ...

Dragon Riders GBP/JPY

Nicely done. Now I know I'm doing something right with my buy limit order at 119.050 (just off by 1.5 pips) After that, I see around 118.70 as the next main support on the daily ichimoku cloud.

Dragon Riders GBP/JPY

That's not a bad idea; your short is a bit risky, so closing out with a couple dozen pips in profit is a solid move. Any profit is better than no profit. I'm only holding onto my shorts because even if we do see a breakout above the descending ...

Dragon Riders GBP/JPY

Still holding onto my shorts from way above at 179.......currently accrueing quite a bit of swap fees given my trade size, though. Target is 177.10/176.90......but we seem to be getting cockblocked at practically every fibonacci support AND halfway ...

Dragon Riders GBP/JPY

And done. Confirmed breakdown below 177.850, targeting 177.10 for now.

Dragon Riders GBP/JPY

A descending triangle has formed on the hourly and 4 hourly, with the trendline resistance being around 178.10. By this point, if you still have your shorts from above, it's just best to wait for a breakout instead of closing it and moving onto the ...

Dragon Riders GBP/JPY

I'll try my best. But you never know; I might be wrong.

Dragon Riders GBP/JPY

That's why it's a mere hypothesis and not a ongoing trading strategy. It's just that if you plan certain possible scenarios in advance and you can see pieces falling together, then you can predict a good R:R area to make your trades early on. If ...

Dragon Riders GBP/JPY

This is a hypothetical outlook, and can easily go wrong, but.... Assuming we make a clean break of 177.60, one of the more likely scenarios is that the gbp/jpy will go somewhere close to 177, bounce back up for a bit(177.85~somewhere in the 178s) ...

Dragon Riders GBP/JPY

For a brief moment in the volatility, I saw a 1pip spread from my broker for the gbp/jpy. It was so beautiful ...Too bad it didn't last even 0.33 seconds before going back to 2-4.

Dragon Riders GBP/JPY

Try again at 1.0950/40? That seems like a decent area to long. I expect 1.10000 to be cleanly broken; only question is how much further.

Dragon Riders GBP/JPY