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Dragon Forex

  • Price: $199
  • Currency pairs: GBPJPY
  • Timeframe: H1
  • Growth: 1.9%
  • Monthly: 0.2%

Dragon Forex Statistics

DEMO ACCOUNT: Dragon Forex

Account not updated for a long time Demo account - Dragon Forex

Start date: Feb 21, 2017

Live broker: ThinkForex

Dragon Forex Description

Dragon Forex Strategy

The British Pound (GBP) against the Japanese Yen (JPY) pair denotes how many Yen are needed to purchase one Pound Sterling. GBPJPY is a pair widely followed by scalpers and forex day traders. Day traders love the wide and volatile swings the pair tends to make on a day by day basis. There is enough liquidity in the pair for scalpers to quickly get into and out of trades. Additionally, forex technical analysis, such as support and resistance trading, tends to work well due to the amount of volume and forex transactions that takes place in the GBPJPY.

This volume and liquidity carves technical patterns that short-term traders closely follow. GBPJPY is also a widely followed market for the medium-term and longer-term traders. Since the JPY is historically a low yielding currency, it is often used as a funding currency of a trade. Additionally, with the United Kingdom being one of the larger economies in Europe, the Pound-Yen pair carry trade can be viewed as a proxy for worldwide economic health.

On the other hand, when the markets experience severe risk aversion, this pair has been a proxy for market 'risk-off' moves as the carry trade gets reversed. As a result, GBPJPY has seen strong trends develop that can be in excess of thousands of pips.

Dragon Forex uses a price action based system where a favourable risk to reward ratio is set by default at 1:1.22 for hourly strategy and 1:2.7 for 4-hourly strategy.

Dragon Forex Expert takes advantage of this highly volatile pair - GBPJPY, detecting early trend on both hourly and 4-hourly bars allowing move to instinctively follow through.

Dragon Forex Expert demonstrates robust performance in backtesting over a 6 year period without setting alterations, clearly indicating a system that performs in all market conditions.