Geppy's Geppy Thread (GBP/JPY) | Page 13 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

GBP/AUD, GBP/CAD, GBP/CHF and GBP/NZD thread 126 replies

Geppy - Pick the bottom 18 replies

Lets Talk GBP/JPY "the geppy" 156 replies

geppy is "ugly" when ? 14 replies

Geppy outlook 0 replies

Attachments: Geppy's Geppy Thread (GBP/JPY)
Exit Attachments

Geppy's Geppy Thread (GBP/JPY)

  • #241
  • Feb 11, 2013 5:17pm Feb 11, 2013 5:17pm
Quoting BobGnarly
I am watching 148.74 which is the 23.6 retracement level from the fall from 2007 to 2009. If we can close a weekly candle above that and also have it become monthly support it should lead to 38.2 fib @ 168.14
Good stuff... and makes sense. I saw your chart from the other day with those fib levels on it. Diggin' it!
check out my blog: forexmademillionaire dot com
  • #242
  • Feb 11, 2013 5:40pm Feb 11, 2013 5:40pm
Quoting Geppy
Good stuff... and makes sense. I saw your chart from the other day with those fib levels on it. Diggin' it!

Thanks, man !
Want the lifestyle of the top traders in the world? TAKE RISK.
  • #243
  • Feb 11, 2013 10:45pm Feb 11, 2013 10:45pm
Hey BobG and Gepp thanks for the input and charts.

Bob what software program is that chart made from?
  • #244
  • Feb 12, 2013 12:34am Feb 12, 2013 12:34am
Quoting LiquidMonste
Hey BobG and Gepp thanks for the input and charts.

Bob what software program is that chart made from?
Any time dude.

I'm sure some of the newer guys are getting nervous about this near 100 pip pullback, but it's pretty natural for the beast. In fact, I feel it's healthy that we're testing back down at these previous resistance levels.

It definitely looks like we're finding support in the 147 zone and that's great progress in my book.
check out my blog: forexmademillionaire dot com
  • #245
  • Feb 12, 2013 12:46am Feb 12, 2013 12:46am
Love the JPY Cross pairs! Subscribed
  • #246
  • Feb 12, 2013 1:04am Feb 12, 2013 1:04am
Quoting 100PipsADay
Love the JPY Cross pairs! Subscribed


Awesome, glad to have ya'!
check out my blog: forexmademillionaire dot com
  • #247
  • Feb 12, 2013 7:13am Feb 12, 2013 7:13am
Quoting Geppy
Any time dude.

I'm sure some of the newer guys are getting nervous about this near 100 pip pullback, but it's pretty natural for the beast. In fact, I feel it's healthy that we're testing back down at these previous resistance levels.

It definitely looks like we're finding support in the 147 zone and that's great progress in my book.
Agreed. I'd much rather the steady pull backs then extension toward the trend than the volatile 200 pip sharp swings. So much of this is psychological. For this pair the lower timeframes < Daily (perhaps 4h) will drive the unsuspecting trader crazy which will only chew up equity.

Still holding long since 144. Next stop = psychological level of 150, then 168. Price has been following my fibs nicely to confirm these levels. News announcements only delay or accelerate where price is supposed to go.
  • #248
  • Feb 12, 2013 9:28am Feb 12, 2013 9:28am
... and there's the 200 pip swing
  • #249
  • Feb 12, 2013 9:40am Feb 12, 2013 9:40am
well, this is slightly frustrating. blah.
check out my blog: forexmademillionaire dot com
  • #250
  • Feb 12, 2013 10:01am Feb 12, 2013 10:01am
Well Geppy, the one conclusion I CAN make is the you are nukkin' futs for trading this pair. All the power to you man!

sjc
  • #251
  • Feb 12, 2013 10:22am Feb 12, 2013 10:22am
Quoting Coondawg71
Well Geppy, the one conclusion I CAN make is the you are nukkin' futs for trading this pair. All the power to you man!

sjc
Hahaha, thanks bro.

You really have to trade the higher time-frames. If you step back and look at it from at least a 4h chart, you'll see that the major trend is still unbroken: up!

We're still stuck in consolidation mode. And, while frustrating, it doesn't murky the larger picture. It takes a little more patience to wait these times out, but if you can do it, the rewards are very sweet.

This beast can rip 500-1000 pips without a solid pullback and I've learned that, in order to catch those moves, you need to be will to accept the fact that you'll see paper profits come and go a few times before it happens. I'm OK with that... I've got my position on and I'm simply waiting. I won't lie, it can still be frustrating (especially after days like yesterday when it looked like we were about to make real progress), but in the long run, it pays off big time.

Cheers!
check out my blog: forexmademillionaire dot com
  • #252
  • Feb 12, 2013 12:34pm Feb 12, 2013 12:34pm
Climbing her way back... anticipate price reaching 147 again by NY's end.
  • #253
  • Feb 12, 2013 12:37pm Feb 12, 2013 12:37pm
Quoting tourderob
Climbing her way back... anticipate price reaching 147 again by NY's end.
I don't anticipating us getting that far. Again, I'm in for the long haul... looking at 151.50 or thereabouts for first TP area.

patience ;-)
check out my blog: forexmademillionaire dot com
  • #254
  • Feb 12, 2013 9:52pm Feb 12, 2013 9:52pm
Quoting whatever007
Attachment

Not really a wave guy but perhaps this has merit.
This idea looks like it has a chance. I will say this looks like a pretty good entry point area for a move back to the top of range though. Might take it here.
Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #255
  • Feb 12, 2013 11:15pm Feb 12, 2013 11:15pm
Neat thread you have going here. Kicking myself for missing this earlier...
Do your time and enjoy the ride...
  • #256
  • Edited 11:48pm Feb 12, 2013 11:33pm | Edited 11:48pm
We might be looking at some sort of correction in the coming days / weeks. As you can see we have a shooting star on last week's candle and this week is also forming a shooting star.

If week remains unchanged the two weeks could be "tweezer tops" which is telling us that we could be in for a possible interruption of our current trend. I am of the thinking that ALL of the JPY cross pairs are in need of some sort of correction.

I have two possible areas of support assuming we experience a correction in the coming days / weeks:

1st Weekly Support - 139.20
2nd Weekly Support - 132.75


My opinion is that we will only get to the first support below which is 139.20.

USD/JPY is also forming a similar pattern from a weekly perspective.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPY_-_Weekly_(2-12).jpg Size: 151 KB
Click to Enlarge Name: GBPJPY_-_Weekly_Zoomed_(2-12).jpg Size: 191 KB
  • #257
  • Feb 13, 2013 4:01am Feb 13, 2013 4:01am
Tested yesterday's lows, long here looking for a trip back to the 147's.
Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #258
  • Feb 13, 2013 4:29am Feb 13, 2013 4:29am
Absolute noob here, but I think this week the market is really reluctant to stay bullish.

Mario Draghi, President of the ECB has spooked the market twice already last Thursday and this Tuesday. He's going to be speaking Friday 12 noon Moscow time. Youv'e got Finance minster of japan in the news, G20, G7.

I feel the beginning of next week will be sideways and by Thursday bulls will be running the show again. And very shortly the news will be about the replacement of the Gov of BOJ and this will help the bulls also.

As for as the shooting star in the chart my guess is its Fake, if drahgi doesn't open his big fat mouth and there was no G20 this week we would be at 150 prolly.
  • #259
  • Feb 13, 2013 4:55am Feb 13, 2013 4:55am
Looking for long at the end of this 30 minute candle myself, not sure yet but looking.
  • #260
  • Feb 13, 2013 4:59am Feb 13, 2013 4:59am
Yeah just pulled the trigger on a long at 145.44. we'll see if it works out
4 traders viewing now