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Geppy's Geppy Thread (GBP/JPY)

  • #921
  • Feb 26, 2013 2:21pm Feb 26, 2013 2:21pm
Quoting Geppy
In other news... filled on the .15s
139.164
Ghost Rider - WWTBMD?
  • #922
  • Feb 26, 2013 2:25pm Feb 26, 2013 2:25pm
Entries at .86, .91, .03....

Hey Gepp... I'm curious about your MM.... you mentioned a few posts ago that your building a smaller account into an account where you don't run into margin issues... so I am curious how risky you get?
  • #923
  • Feb 26, 2013 2:25pm Feb 26, 2013 2:25pm
Quoting Geppy
<public_service_announcement>
Wait...you mean this "ISN'T" a call service??

And here I thought I'd get a fish each day.
Ghost Rider - WWTBMD?
  • #924
  • Feb 26, 2013 2:25pm Feb 26, 2013 2:25pm
*Shorts at .86, .91, .03 and .10
  • #925
  • Feb 26, 2013 2:34pm Feb 26, 2013 2:34pm
Quoting BobGnarly
Added some GJ longs at 138.25

UJ pretty big position avg price at 91.22

Wide stops are now a little less wide , about 150 pips below the days low, for each pair.
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  • #926
  • Feb 26, 2013 2:38pm Feb 26, 2013 2:38pm
Just got back a bit ago and just saw this 4H close. Might need to back some stops off and give her some breathing room.

Whatcha think Geppy? A surge to test 139.70ish perhaps? The indexes don't really agree although I'd like to see the YEN break resitance here on the daily.

Thoughts anyone?

I have a feeling I know what Bob might think but welcome your view sir
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: LFXJPY_GBPLFX_DAILY.PNG Size: 63 KB
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  • #927
  • Feb 26, 2013 2:40pm Feb 26, 2013 2:40pm
Quoting albchr
139.164
Always gotta be one-upping, huh?
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  • #928
  • Feb 26, 2013 2:41pm Feb 26, 2013 2:41pm
Quoting albchr
Just got back a bit ago and just saw this 4H close. Might need to back some stops off and give her some breathing room.

Whatcha think Geppy? A surge to test 140ish perhaps? The indexes don't really agree although I'd like to see the YEN break resitance here on the daily.

Thoughts anyone?

I have a feeling I know what Bob might think but welcome your view sir

I made my entries on the 15 min earlier today, With tp's set on the monthly. I just see the Yen collapsing over the next few months, But can there be more downward movement? sure... Just watching the last 2 days, the amount of buying that occurred at the lows is correction and not reversal in my opinion
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  • #929
  • Feb 26, 2013 2:43pm Feb 26, 2013 2:43pm
Quoting Geppy
Always gotta be one-upping, huh?
I just couldn't resist

Truth is I just sat down and that's where it was so CLICK! Pure luck....lol

Although I still agree with your earlier assesment of the 20/30's so it don't mean jack.
Ghost Rider - WWTBMD?
  • #930
  • Feb 26, 2013 2:45pm Feb 26, 2013 2:45pm
Quoting Teddicus
Entries at .86, .91, .03....

Hey Gepp... I'm curious about your MM.... you mentioned a few posts ago that your building a smaller account into an account where you don't run into margin issues... so I am curious how risky you get?
I'm not sure I recall saying that.

Anyway, I like to "scale into" trades, starting with a small piece of the overall position I want to get in and then work it up to half or so what I want. Once things start going my way, I tend to add aggressively while keeping a tight leash on things.

It's definitely an aggressive style, and not for everyone. If you can master it, you can make a killing. The other year, I took a $4,000 account to over $50,000 in five weeks. I like to pyramid, and I see nothing wrong with that strategy if you know how to add to your winners and keep your SLs in order.
check out my blog: forexmademillionaire dot com
  • #931
  • Feb 26, 2013 2:46pm Feb 26, 2013 2:46pm
Quoting albchr
Just got back a bit ago and just saw this 4H close. Might need to back some stops off and give her some breathing room.

Whatcha think Geppy? A surge to test 139.70ish perhaps? The indexes don't really agree although I'd like to see the YEN break resitance here on the daily.

Thoughts anyone?

I have a feeling I know what Bob might think but welcome your view sir
140 is definitely not out of the question, in fact it wouldn't even violate the 1 hour downtrend. I've got about 40% of the position I want on at 139.15 so I have room to add more if we go higher.
check out my blog: forexmademillionaire dot com
  • #932
  • Feb 26, 2013 2:47pm Feb 26, 2013 2:47pm
Quoting BobGnarly
I made my entries on the 15 min earlier today, With tp's set on the monthly. I just see the Yen collapsing over the next few months, But can there be more downward movement? sure... Just watching the last 2 days, the amount of buying that occurred at the lows is correction and not reversal in my opinion
Gotcha!

Do you have upside target(s) in mind for your longs?
Ghost Rider - WWTBMD?
  • #933
  • Feb 26, 2013 2:51pm Feb 26, 2013 2:51pm
Quoting albchr
Gotcha!

Do you have upside target(s) in mind for your longs?

98.83 TP1 and 100.00 TP2 for UJ
Looking at the 157.07 area for GJ
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  • #934
  • Feb 26, 2013 2:52pm Feb 26, 2013 2:52pm
Quoting Geppy
140 is definitely not out of the question, in fact it wouldn't even violate the 1 hour downtrend. I've got about 40% of the position I want on at 139.15 so I have room to add more if we go higher.
Yeah, that's sort of what what I was thinking. OK, just checking to be sure I wasn't seeing things.....(alone)...lol
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  • #935
  • Feb 26, 2013 2:55pm Feb 26, 2013 2:55pm
missed that double bottom on the hourly chart.

olu
If you think you can or cannot do it you are correct
  • #936
  • Feb 26, 2013 2:55pm Feb 26, 2013 2:55pm
Quoting BobGnarly
98.83 TP1 and 100.00 TP2 for UJ
Looking at the 157.07 area for GJ
157's eh? I sure hope that's a very loooong term target. Otherwise I better close me shorts now! lol
Ghost Rider - WWTBMD?
  • #937
  • Feb 26, 2013 2:59pm Feb 26, 2013 2:59pm
I'm not arguing this down move isn't corrective.

*cough* *cough, Bob* *cough*

I believe that's the case, but I think there's more correction yet to come. Check out the daily and look back to Jan 8th and 23rd (I think those are the dates... hard to see on my phone's charts).

The 139-140 zone was major support back then. The last few days have managed to hack through that area and now guess what? We're testing it as resistance.

If I had gambled longs at the bottom, I'd be taking profits here now and getting short.

This correction may or may not be done. But either way, I've seen enough corrections to know how they end: in days of very boring consolidation where all the noobs finally buy into bearish sentiment and start shorting, waiting for the next big drop, while all the vets start building longs for the next move up.

Basically, there will be plenty of time to get long after the correction is over. I don't think that time has come, but if we haven't broken lower in the next couple days, I'm probably wrong.
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  • #938
  • Feb 26, 2013 3:04pm Feb 26, 2013 3:04pm
Quoting Geppy
I'm not arguing this down move isn't corrective.

*cough* *cough, Bob* *cough*

I believe that's the case, but I think there's more correction yet to come. Check out the daily and look back to Jan 8th and 23rd (I think those are the dates... hard to see on my phone's charts).

The 139-140 zone was major support back then. The last few days have managed to hack through that area and now guess what? We're testing it as resistance.
Alllow me. Sorry, small laptop screen to get back any further.
Attached Image (click to enlarge)
Click to Enlarge Name: gj_daily.gif Size: 31 KB
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  • #939
  • Feb 26, 2013 3:18pm Feb 26, 2013 3:18pm
And then close up to the dates you mention (good memory bro).

For me, whenever it breaks below the 55ema (blue), I look to see if I can trade it to the 200ema (red). Which just happens to be right at the 38.2 (134.496) as of now.
Attached Image (click to enlarge)
Click to Enlarge Name: gj_daily.gif Size: 22 KB
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  • #940
  • Feb 26, 2013 3:21pm Feb 26, 2013 3:21pm
Thanks Geppy~!

I appreciate the insights... it makes much more sense to dip your toe in before you start riding the wave....



Quoting Geppy
I'm not sure I recall saying that.

Anyway, I like to "scale into" trades, starting with a small piece of the overall position I want to get in and then work it up to half or so what I want. Once things start going my way, I tend to add aggressively while keeping a tight leash on things.

It's definitely an aggressive style, and not for everyone. If you can master it, you can make a killing. The other year, I took a $4,000 account to over $50,000 in five weeks. I like to pyramid, and I see nothing wrong with that strategy if you know how to...
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