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Geppy's Geppy Thread (GBP/JPY)

  • #1,021
  • Feb 27, 2013 7:18am Feb 27, 2013 7:18am
Quoting Geppy
Good stuff, bro. We just took the previous lows... see if we get a runner out of her.
My runner got stopped BE on that silly spike. Sideline for me. Don't have time to trade today and with Ben and Draghi both scheduled to run their yap we could have some volatility. No clue what's next here, stay safe out there guys.
Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #1,022
  • Feb 27, 2013 7:28am Feb 27, 2013 7:28am
Quoting albchr
Beginning to look like we may still test that 140ish we spoke of yesterday. Might cash this out and look to reload if so, and PA still says south of course.
My b/e is at 139.30 so I just can't justify giving up my position. With all my stops at 139.70, I like my risk/reward and have no problem giving up those pips if that's what it comes to. I've had a stellar week and it's... Wednesday?!?! Crazy. I'm happy to hold to tell you the truth, the last two days hopping in and out is not my style at all and it's a bit stressful. Kinda nice to have a set-it-and-forget it trade on right now.
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  • #1,023
  • Feb 27, 2013 7:31am Feb 27, 2013 7:31am
Quoting Geppy
My b/e is at 139.30 so I just can't justify giving up my position. With all my stops at 139.70, I like my risk/reward and have no problem giving up those pips if that's what it comes to. I've had a stellar week and it's... Wednesday?!?! Crazy. I'm happy to hold to tell you the truth, the last two days hopping in and out is not my style at all and it's a bit stressful. Kinda nice to have a set-it-and-forget it trade on right now.
The very dilemma I'm facing too. I've made good this week (and last) and this trade is covered so it's not like I can loose anything. Taking it now might be paramount to being greedy? lol
Ghost Rider - WWTBMD?
  • #1,024
  • Feb 27, 2013 7:34am Feb 27, 2013 7:34am
Quoting albchr
The very dilemma I'm facing too. I've made good this week (and last) and this trade is covered so it's not like I can loose anything. Taking it now might be paramount to being greedy? lol
The way I look at it is I don't play for 30-40 pips unless I'm truly scalping. This is definitely not a scalp, but a rather large position. In those cases, I'm always going for a minimum of 100 pips if not 200. So cutting this here with +30/40 pips would just be against my trading style and plan. I'm not doing it.
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  • #1,025
  • Feb 27, 2013 7:43am Feb 27, 2013 7:43am
Quoting Geppy
The way I look at it is I don't play for 30-40 pips unless I'm truly scalping. This is definitely not a scalp, but a rather large position. In those cases, I'm always going for a minimum of 100 pips if not 200. So cutting this here with +30/40 pips would just be against my trading style and plan. I'm not doing it.
I understand. I've always traded on 4H and below looking for the same...well.....50 or more .... and just recently had to switch to higher TF's due to the conditions (schedule) at home. So I'm still fighting to break old habits of "bank em when you got em" approach.

My short is at 139.73 and the stop at 139.60 so it's a no loose deal I should just walk away from.
Ghost Rider - WWTBMD?
  • #1,026
  • Feb 27, 2013 7:50am Feb 27, 2013 7:50am
Quoting albchr
I understand. I've always traded on 4H and below looking for the same...well.....50 or more .... and just recently had to switch to higher TF's due to the conditions (schedule) at home. So I'm still fighting to break old habits of "bank em when you got em" approach.

My short is at 139.73 and the stop at 139.60 so it's a no loose deal I should just walk away from.
Yeah, that's a great place to be, dude. You're free-rolling already... mine as well see how much you can roll for!
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  • #1,027
  • Feb 27, 2013 7:57am Feb 27, 2013 7:57am
Whats up guys! I have been building my UJ longs .. Massive order avg price at 91.45... Got stopped out on gJ yesterday @ BE and waiting now until we bottom to buy
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  • #1,028
  • Feb 27, 2013 8:00am Feb 27, 2013 8:00am
It's the top of the hour, so what better time for a chart update?

I'm getting back to the 1 hour chart in an attempt to get rid of some of the noise on the lower TFs. As you can see, the green 50ema has provided great resistance for quite some time now. Also notice that the yellow 100ema has crossed over the red 200ema. That hasn't happened for a LONG time and it's not something we should be taking lightly.

Furthermore, we tried to get over the 139 handle this past hour, but PA was bitch slapped pretty hard just like it was whacked the hour before on an attempt to assault 138 . We're in a definite tug-of-war here and it's best to get a look at the true picture of what's happening by getting away from the 15min chart.

My view hasn't changed, I'm just annoyed I have to wait so long for some action. I guess the last two days have temporarily spoiled me
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  • #1,029
  • Feb 27, 2013 8:45am Feb 27, 2013 8:45am
Don't worry now it's Draghi's turn to step up to the mic.

In any event, like I said last night we prob. won't break the floor of this descending triangle until sometime near Friday.

Interesting to see how you can make some quick pips on the M1 though when these dudes start blabbing.

I might try that out sometime although it's not really my style. lol

EJ almost went 100 pips to the upside so far ---
Trade at your own risk.
  • #1,030
  • Feb 27, 2013 11:16am Feb 27, 2013 11:16am
My SLs are holding on for dear life
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  • #1,031
  • Feb 27, 2013 11:27am Feb 27, 2013 11:27am
annnnnnnd I'm flat.
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  • #1,032
  • Feb 27, 2013 11:36am Feb 27, 2013 11:36am
Quoting BobGnarly
Whats up guys! I have been building my UJ longs .. Massive order avg price at 91.45... Got stopped out on gJ yesterday @ BE and waiting now until we bottom to buy
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  • #1,033
  • Feb 27, 2013 11:50am Feb 27, 2013 11:50am
Quoting BobGnarly
looks like a test of 142 could be in order.
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  • #1,034
  • Feb 27, 2013 11:51am Feb 27, 2013 11:51am
Quoting albchr
Beginning to look like we may still test that 140ish we spoke of yesterday. Might cash this out and look to reload if so, and PA still says south of course.
Maybe?? If it stops, does 139.94 fit within "ish"? lol
Ghost Rider - WWTBMD?
  • #1,035
  • Feb 27, 2013 11:54am Feb 27, 2013 11:54am
Quoting Geppy
looks like a test of 142 could be in order.
No doubt, correction over?
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  • #1,036
  • Feb 27, 2013 11:59am Feb 27, 2013 11:59am
[quote=BobGnarly;6479477]No doubt, correction over? [/QUOTE

I doubt the correction is over. Probably going to test 141.60 one more time. More and more retailers going long, don't think the big boys will give it to them that easy.

Like Geppy said a few days ago, the easy "long" money is over for the time being.
  • #1,037
  • Feb 27, 2013 11:59am Feb 27, 2013 11:59am
Quoting BobGnarly
No doubt, correction over?
Not necessarily. Way too early to tell yet.
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  • #1,038
  • Feb 27, 2013 12:02pm Feb 27, 2013 12:02pm
[quote=100PipsADay;6479483]
Quoting BobGnarly
No doubt, correction over? [/QUOTE

I doubt the correction is over. Probably going to test 141.60 one more time. More and more retailers going long, don't think the big boys will give it to them that easy.

Like Geppy said a few days ago, the easy "long" money is over for the time being.
I follow the big boys very closely.. I have my sources
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  • #1,039
  • Edited 12:38pm Feb 27, 2013 12:05pm | Edited 12:38pm
Quoting BobGnarly

I follow the big boys very closely.. I have my sources
You must be one lucky dog Bob!
  • #1,040
  • Feb 27, 2013 12:05pm Feb 27, 2013 12:05pm
[quote=BobGnarly;6479493]
Quoting 100PipsADay

I follow the big boys very closely.. I have my sources
Oh Lord...really?
Ghost Rider - WWTBMD?
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