Thanks. In general the reaction of the Canadian dollar (and its crosses) after the Employment reports from Canada is much stronger than the one from the US Non-farm payrolls (on other currencies). I will be watching this pair as some very important ...

Dragon Riders GBP/JPY

Yep, good call. Personally I went short the Canadian dollar.

Dragon Riders GBP/JPY

YES!!!

Dragon Riders GBP/JPY

Torpedo impact in 5 minutes, get ready folks...

Dragon Riders GBP/JPY

And it did fall hard, indeed, as the breakout to the upside went nowhere, as expected (see chart). (Got all my money back on this down move, plus change.)

Dragon Riders GBP/JPY

Down 13 grand on my side, I know the feeling pal Bite the bullet and move on. You lose some and you win some but you keep on fighting. video

Dragon Riders GBP/JPY

So this week the biggest mover was the Australian dollar and its crosses, the rest (like GBP/JPY) is just garbage.

Dragon Riders GBP/JPY

This trade was of course closed at break-even. Oh well.

Dragon Riders GBP/JPY

Good for you, but it's not over yet, Thursday (today) could still be the high of the week, meaning the low of the week has not been printed yet (think NFP report for example...)

Dragon Riders GBP/JPY

The market is waiting for the Employment reports (both US and Canadian), that's why we don't see any meaningful trend at the moment (except for the euro).

Dragon Riders GBP/JPY

No problem. I went short GBP/CAD at 1.68 precisely (around the 50% Fib), but it's still giving me a hard time as we speak. Generally speaking, the Canadian dollar (and/or its crosses) is very hard to trade.

Dragon Riders GBP/JPY

No I bought GBP/AUD instead at 1.6950 (see my previous post two or three days ago) and sold 83 pips higher. Yes it's still climbing but who cares, greed is not always good...

Dragon Riders GBP/JPY

Seems like the cable breakout to the upside is about to fail again (see chart above). If that's the case it could fall hard. Good...

Dragon Riders GBP/JPY

Yep, the stupid euro is lifting the cable up and about to reverse the whole weekly downtrend (from Sunday). (I am short GBP/CAD so this does not help my position, but anything is still possible).

Dragon Riders GBP/JPY

Potential breakout in progress from an ascending channel on the cable (15-min), but quite frankly it's hard to tell what the pound is up to, as the first breakout to the upside quickly failed... In any case all the GBP crosses (GBP/JPY included of ...

Dragon Riders GBP/JPY

Here is the correlation between USD/JPY and GBP/JPY. url On the daily time frame for example (D1) we can see that this correlation can go from more than 80% to almost zero and back again. I am sure there must be a way to profit from these ...

Dragon Riders GBP/JPY

Bye the way, Happy 4th Of July to all of our American Friends, here in the US and elsewhere, God bless this great country !!!

Dragon Riders GBP/JPY

I am short GBP/AUD at 1.7 Waiting for the pullback to go long.

Dragon Riders GBP/JPY

That 40 pip drop is probably due to the New Zealand report at 6 PM (EST). Keep in mind that all these Asian currencies (Yen, AUD, NZD and CNY) are very closely related. A good (or bad) financial report from China for example could send the NZD/USD ...

Dragon Riders GBP/JPY

Alright, so far the winning "horses" are the Canadian and the Australian currency pairs, followed by the cable to some extent. If you notice, each week/month there are just a couple of big movers and that's it. So in my humble opinion the right ...

Dragon Riders GBP/JPY