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Geppy's Geppy Thread (GBP/JPY)

  • #281
  • Feb 13, 2013 7:16pm Feb 13, 2013 7:16pm
Quoting pabloski
perfect entry my friend

Bad TP though... missed about 20 pippers.

What's your mid-term outlook? I still think long-term we're going up, but mid-term is pretty murky now.

The 50ema is crossing the 200ema on the 1h chart... this hasn't happened since the pullback that brought us down to the 139.20s

I think we could see a correction to the 143.50 area or a bit lower.
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  • #282
  • Edited 7:47pm Feb 13, 2013 7:31pm | Edited 7:47pm
Quoting Geppy

I think a test of 140 or even 139 could be in order within the next couple days. If we reach there, I'll be in "wait and see mode".

Anyone else interested in joining this crusade to tame the beast?
I wish I could, but nowaday the market is manipulated and its very difficult to trade pair like the JPY or the EURO. Someone could make a comment at any moment and causes you to lose.

Anyways, have you been able to make a good amount of pips out of this pair, I know its a very popular one
I will become the World's best at my own style
  • #283
  • Feb 13, 2013 7:52pm Feb 13, 2013 7:52pm
Hi Geppy

Well done on the quick trade on the gbpjpy. I have a question. I believe gbp as a currency (our currency) is buggered. And that there are underground efforts to weaken it. This means gbpjpy might still go up but not as much and efficient as the eurjpy, nzdjpy or chfjpy. The question is for trade purity why not trade the usdjpy. We know the intentions of the BOJ and it is to weaken jpy. Trading, say the eurjpy introduces another central bank into the fray i.e ECB, BOJ and Bernanke. Trading the usdjpy deals with just the BOJ and Bernanke. I know the thread is gbpjpy...

Olu
If you think you can or cannot do it you are correct
  • #284
  • Feb 13, 2013 7:57pm Feb 13, 2013 7:57pm
Quoting Olu
Hi Geppy

Well done on the quick trade on the gbpjpy. I have a question. I believe gbp as a currency (our currency) is buggered. And that there are underground efforts to weaken it. This means gbpjpy might still go up but not as much and efficient as the eurjpy, nzdjpy or chfjpy. The question is for trade purity why not trade the usdjpy. We know the intentions of the BOJ and it is to weaken jpy. Trading, say the eurjpy introduces another central bank into the fray i.e ECB, BOJ and Bernanke. Trading the usdjpy deals with just the BOJ and Bernanke....
USD/JPY moves too slow for my liking. However, I also looked at trading other Yen crosses... the EUR/JPY seemed like a good one. But if you look at the correlated moves in the Yen pairs, GBP/JPY still moves more pip-for-pip than something like EUR/JPY or AUD/JPY. Trust me, I want to be getting the biggest bang for my buck too ;-)
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  • #285
  • Feb 13, 2013 7:59pm Feb 13, 2013 7:59pm
Quoting Geppy
USD/JPY moves too slow for my liking. However, I also looked at trading other Yen crosses... the EUR/JPY seemed like a good one. But if you look at the correlated moves in the Yen pairs, GBP/JPY still moves more pip-for-pip than something like EUR/JPY or AUD/JPY. Trust me, I want to be getting the biggest bang for my buck too ;-)
Agreed, U/J is just too slow...
  • #286
  • Feb 13, 2013 8:00pm Feb 13, 2013 8:00pm
I'm trying to set up another long scalp, however, I think I'll be looking to get short on the 1h time-frame.

If price can pull up to near where the 50ema is crossing the 200ema, I'll be contemplating short.

From the chart below, that will fall somewhere in the 145.65 range or a bit higher. Obviously, I'll be looking for price to stall out there. If it doesn't... I'll be on the sidelines.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy1h.gif Size: 53 KB
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  • #287
  • Feb 13, 2013 8:11pm Feb 13, 2013 8:11pm
Geppy and All

I hear you on the advantage of gbpjpy over others. The only reason I put up the idea is the reduction in complexity. I trade gbpjpy too and will continue to do so

Olu
If you think you can or cannot do it you are correct
  • #288
  • Feb 13, 2013 8:15pm Feb 13, 2013 8:15pm
Quoting Geppy
I'm trying to set up another long scalp, however, I think I'll be looking to get short on the 1h time-frame.

If price can pull up to near where the 50ema is crossing the 200ema, I'll be contemplating short.

From the chart below, that will fall somewhere in the 145.65 range or a bit higher. Obviously, I'll be looking for price to stall out there. If it doesn't... I'll be on the sidelines.
You should create a trade explorer and add it to this thread. Are you only trading that pair ??
I will become the World's best at my own style
  • #289
  • Feb 13, 2013 8:22pm Feb 13, 2013 8:22pm
Quoting Celente
You should create a trade explorer and add it to this thread. Are you only trading that pair ??
I used to keep my trade explorer open to the public, but too many people were just copying my trades and I find that annoying.

I'm focusing most of my trading on this pair right now, but I do trade EUR/USD, EUR/AUD, AUD/USD, EUR/GBP and GBP/USD too. I don't care for many others than that.
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  • #290
  • Feb 13, 2013 8:27pm Feb 13, 2013 8:27pm
Quoting Geppy
I used to keep my trade explorer open to the public, but too many people were just copying my trades and I find that annoying.

I'm focusing most of my trading on this pair right now, but I do trade EUR/USD, EUR/AUD, AUD/USD, EUR/GBP and GBP/USD too. I don't care for many others than that.
I remember seeing your Trade Explorer, you made some serious % returns!

Curious to hear your thoughts on EUR/AUD if possible Mr. Geppy? If you don't want to post in here could you do it in the EUR/AUD thread here: http://www.forexfactory.com/showthre...17#post6444417

Only if you have the time...
  • #291
  • Feb 13, 2013 8:34pm Feb 13, 2013 8:34pm
I'm long for better or worse, bust or not. Look at the last time the daily was in the area. Crazy action, just like we're seeing now.

Still hanging tough, despite massive draw down.

Just me though. What do I know?
  • #292
  • Feb 13, 2013 8:39pm Feb 13, 2013 8:39pm
Geppy, overall where do you see GBP/JPY in the long run ??
I will become the World's best at my own style
  • #293
  • Feb 13, 2013 10:15pm Feb 13, 2013 10:15pm
Quoting 100PipsADay
I remember seeing your Trade Explorer, you made some serious % returns!

Curious to hear your thoughts on EUR/AUD if possible Mr. Geppy? If you don't want to post in here could you do it in the EUR/AUD thread here: http://www.forexfactory.com/showthre...17#post6444417

Only if you have the time...
E/A is definitely in an uptrend, but I'm not trading it now. Call me a weirdo, but I don't like playing it to the long side (mostly because I hate paying the large daily swap).

It's been consolidating in a triangle formation though and will probably continue the trend (up).
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  • #294
  • Feb 13, 2013 10:17pm Feb 13, 2013 10:17pm
Quoting Celente
Geppy, overall where do you see GBP/JPY in the long run ??
I don't know how you define "long run". The overall trend right now is up and that's my overall bias. However, I'll take shorts here and there on corrections, etc.
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  • #295
  • Feb 13, 2013 10:19pm Feb 13, 2013 10:19pm
Quoting Geppy
E/A is definitely in an uptrend, but I'm not trading it now. Call me a weirdo, but I don't like playing it to the long side (mostly because I hate paying the large daily swap).

It's been consolidating in a triangle formation though and will probably continue the trend (up).
Yea I know what you mean. I have quite a few long positions right now waiting for another break to the upside but am paying out a $hit load of money through SWAP!

Olu pointed out the triangle formation but we are all waiting for the breakout, hopefully soon!

Thanks for the reply Geppy.
  • #296
  • Feb 13, 2013 10:20pm Feb 13, 2013 10:20pm
Quoting tourderob
I'm long for better or worse, bust or not. Look at the last time the daily was in the area. Crazy action, just like we're seeing now.

Still hanging tough, despite massive draw down.

Just me though. What do I know?
I was filled in my long order, but my target is set to only 145.50

I think we're going to see some further decline. If I'm up (and assuming my TP hits), I'll probably be looking to short a bit higher than that.

Check out this 4h chart. A drop to below 143.00 wouldn't hurt the overall trend at all. In fact there was a lot of consolidation (followed by a break higher) in the 140-144 range. It wouldn't be a bad thing to go down, test those levels, and form some support there. I think there's a good possibility that we do that, and I don't have an interest in taking that kind of draw down.

I could be wrong, but there will be plenty of time to get long again if I am.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy4h.gif Size: 49 KB
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  • #297
  • Feb 14, 2013 12:17am Feb 14, 2013 12:17am
Hi Everyone,

I like trading the yen pairs especially cos of the high vol and decided to join this thread to see what you guys are talking about

Bot @ 145.23 and expecting it to hit at least 146.

If price breaks 144.65 support, there could be more downside as you suggested. If not, it will continue ranging within this big range.
  • #298
  • Feb 14, 2013 9:07am Feb 14, 2013 9:07am
Well, I was stopped out last night for -5 pips as I put the SL in before bed. I never got my short entry
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  • #299
  • Feb 14, 2013 10:22am Feb 14, 2013 10:22am
Whats up guys! I see we are getting our much needed pull back.. My stop was hit at +80 the other day.. Got short at 145.20 yesterday...
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  • #300
  • Feb 14, 2013 10:23am Feb 14, 2013 10:23am
Looking to long again in the 139.50 area

The 23% fib proved to be nice resistance but ultimately I still have my 168 target.
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