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Geppy's Geppy Thread (GBP/JPY)

  • #201
  • Feb 7, 2013 5:11pm Feb 7, 2013 5:11pm
wow Al here, good to see you bro.


Quoting albchr
I know Geppy calls it the Beast. I'm a newer trader and I learned it as the Dragon because it's easy to get burned when she flies either way...LOL

Long time since I said hello Geppy. Nice thread and as usual, I've been lurking...
  • #202
  • Feb 7, 2013 5:19pm Feb 7, 2013 5:19pm
Weare on track again! 146.00 proved as a strong demand level one more time, price was quickly rejected. I'm holding my longs, good I didn't panic during Draghi's speech! Now we have 147.25 ahead..
  • #203
  • Feb 7, 2013 5:22pm Feb 7, 2013 5:22pm
Hey guys, I just posted a poll... apparently you have to be on the first page to see it and vote? Basically, will the beast make new highs (above 148) before the upcoming EU session closes?

I voted YES!
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  • #204
  • Feb 7, 2013 5:31pm Feb 7, 2013 5:31pm
Learned a valuable lesson today, never hold longs when central bankers speak. 148 by 5:AM new york time would be great. If it does , I will have renewed confidence in this beast.
  • #205
  • Feb 7, 2013 5:53pm Feb 7, 2013 5:53pm
Voted after the news
  • #206
  • Feb 7, 2013 7:12pm Feb 7, 2013 7:12pm
Quoting Kissa
Voted after the news
Looks like 4 Yes and 0 No so far...
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  • #207
  • Feb 8, 2013 1:35am Feb 8, 2013 1:35am
Voted Yes
  • #208
  • Feb 8, 2013 1:56am Feb 8, 2013 1:56am
Been in a long since 144.00 and adding positions as it continues higher.

Obvious correction right now. But never trade current candle - always trade past data. I look at daily and weekly timeframes and use the 15min for add in positions on pull backs.

I suspect what we'll see is a reversal back north in the next few hours. Friday will be a slow rally up in the NY session, but the Asian session could be pretty volatile.

A slingshot is only as effective as the strength of the pullback. Price just reached a 3-year high. Of course there will be a pullback before continuing the trend.

Could be wrong, but I'm not panicking. Too often been in a trade, see it go against me, to close at a loss, only to see it turn right back around plus 200 pips.

I never use artificial, pip based stop losses either. Must use the market to determine stops.
  • #209
  • Feb 8, 2013 4:29am Feb 8, 2013 4:29am
http://www.reuters.com/article/2013/...0B84SR20130208

careful longs......
Wooooohooooo or Boooooohooooo
  • #210
  • Feb 8, 2013 4:36am Feb 8, 2013 4:36am
Quoting gnomoneey
http://www.reuters.com/article/2013/...0B84SR20130208

careful longs......
Yea... Trap the long trader ?
  • #211
  • Feb 8, 2013 5:26am Feb 8, 2013 5:26am
Quoting Geppy
Hey guys, I just posted a poll... apparently you have to be on the first page to see it and vote? Basically, will the beast make new highs (above 148) before the upcoming EU session closes?

I voted YES!
I'd vote no but I'm tempted to vote the "I'm too lame to commit to an answer" just because the way you worded it is hilarious!!

But honestly I'd have to vote no as I don't think it will "before" EU session close. That said, I still think she can fly if she clears this fairly strong resistence here. A close above 148 as you say would certainly qualify that.

I think it all depends on whether the yen is done being screwed with.
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Ghost Rider - WWTBMD?
  • #212
  • Feb 8, 2013 5:44am Feb 8, 2013 5:44am
Quoting k3nshinz3139
Yea... Trap the long trader ?
see it from other way, he is politician so have to be politically correct, currency war is blamed on Japan Government, so they have to showcase that they are concern with declining Yen,

We are knowing what Japan is doing behind the doors
  • #213
  • Feb 8, 2013 7:55am Feb 8, 2013 7:55am
Complete manipulation hahahah, It's just so funny This is why I use no stops to wide stops in my positions... watch this thing end with a big green hammer
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  • #214
  • Feb 8, 2013 8:00am Feb 8, 2013 8:00am
Quoting BobGnarly
Complete manipulation hahahah, It's just so funny This is why I use no stops to wide stops in my positions... watch this thing end with a big green hammer

Like I said, artificially placed stops based upon a number of pips is unwise as it is not based upon price action, s/r, or fibo levels (s/r levels). Better to know your tolerance and size your trade accordingly.

NY session is in a rally as suspected.

I am still targeting 150. Watch the daily candles. On the dragon, anything lower will whipsaw your account to pieces.
  • #215
  • Feb 8, 2013 8:14am Feb 8, 2013 8:14am
Thanks for the input... I know how this beast works and yes she can be ugly, but also very rewarding. I take maybe 1-3 trades a month.. this one my TP is actually around 180... I use mental stops and I know when enough is enough
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  • #216
  • Feb 8, 2013 8:16am Feb 8, 2013 8:16am
150 first, but I agree with you in the much longer term
  • #217
  • Feb 8, 2013 9:30am Feb 8, 2013 9:30am
Quoting tourderob
150 first, but I agree with you in the much longer term
in @146.34
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  • #218
  • Feb 8, 2013 9:46am Feb 8, 2013 9:46am
Well, I think it's safe to say we won't see new highs before EU closes. Oh well...

Some of my later long additions got stopped out last night with that nasty move (stops were at 145.65), however, most of my positions held on as I had the stops below the cluster of previous 4H wicks in the 144.50 zone.

Price definitely found support last night on the 4H 50EMA and I feel we'll continue higher next week. My views haven't changed and I'll be holding over the weekend.
check out my blog: forexmademillionaire dot com
  • #219
  • Feb 8, 2013 9:49am Feb 8, 2013 9:49am
Quoting Geppy
Well, I think it's safe to say we won't see new highs before EU closes. Oh well...

Some of my later long additions got stopped out last night with that nasty move (stops were at 145.65), however, most of my positions held on as I had the stops below the cluster of previous 4H wicks in the 144.50 zone.

Price definitely found support last night on the 4H 50EMA and I feel we'll continue higher next week. My views haven't changed and I'll be holding over the weekend.

Damn bro, sorry to hear you got stopped... I have a mental stop as I usually do with the yen pairs... Dont count out a higher close than yesterday
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  • #220
  • Feb 8, 2013 9:56am Feb 8, 2013 9:56am
Quoting BobGnarly
Damn bro, sorry to hear you got stopped... I have a mental stop as I usually do with the yen pairs... Dont count out a higher close than yesterday
No worries... it was only on about 20% of my position.

And yes, I'm not counting out a higher daily close, but I don't see us making new highs. A weekly close above 147 sure would be nice though.
check out my blog: forexmademillionaire dot com
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