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Geppy's Geppy Thread (GBP/JPY)

  • #2,161
  • Mar 11, 2013 4:38pm Mar 11, 2013 4:38pm
Rumour – Incoming BOJ head Kuroda may hold emergency meeting ahead of Apr. 3 to ease policy

link here: http://www.forexlive.com/blog/2013/0...o-ease-policy/
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  • #2,162
  • Mar 11, 2013 4:56pm Mar 11, 2013 4:56pm
Quoting Geppy
Rumour – Incoming BOJ head Kuroda may hold emergency meeting ahead of Apr. 3 to ease policy

link here: http://www.forexlive.com/blog/2013/0...o-ease-policy/
Good to know Broseph!

I think I have found a way to know exactly which currencies are going to be toughest against JPY at any given time. I was alerted to CHF, AUD and NZD strength as early as 5AM today but was too slow to put 2+2 together. Or perhaps just not confident enough with my system.

I think aligning the toughest currencies of the day and/or session with the JPY might be worth a shot. Also, it may give an idea of risk on/risk off scenarios which may be good for EJ or GJ.

This method worked well last week when I was getting bullish signals for USD the night before NFP and low and behold USD was a real powerhouse against JPY the following day.
Trade at your own risk.
  • #2,163
  • Mar 11, 2013 5:00pm Mar 11, 2013 5:00pm
Quoting Fx3423454
Good to know Broseph!

I think I have found a way to know exactly which currencies are going to be toughest against JPY at any given time. I was alerted to CHF, AUD and NZD strength as early as 5AM today but was too slow to put 2+2 together. Or perhaps just not confident enough with my system.

I think aligning the toughest currencies of the day and/or session with the JPY might be worth a shot. Also, it may give an idea of risk on/risk off scenarios which may be good for EJ or GJ.

This method worked well last week when I was getting bullish...
Honestly, too much work for me to think about the best bang for my buck. I've considered it, but I like my ol' beast too much. We've got a history, and I know her mood swings well at this point.
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  • #2,164
  • Mar 11, 2013 5:17pm Mar 11, 2013 5:17pm
Quoting Geppy
Honestly, too much work for me to think about the best bang for my buck. I've considered it, but I like my ol' beast too much. We've got a history, and I know her mood swings well at this point.
I guess you've married the old girl. lol

I am working on being nimble and getting in and out of the strongest currencies vs. JPY on any given day, etc.
I know that a lot of folks use oscillators to buy their favorite currencies and then wait for them to rebound.

This strategy is good but have you ever seen a currency take off and it was never even oversold?
Or how about when you buy a currency when it is oversold and in an uptrend and then it goes even lower? lol

You sit around wondering when it's going to pop up again?
Well, I think I have found a way to know exactly when the "pop" occurs - a way to get in exactly when the train is leaving.

When the train starts slowing down I will be alerted to the next train that is about to take off.

Anyway, I will keep everyone posted and if it works out as expected I will start alerting people to which currencies might be toughest on JPY at any given time.

It's working so far - but we'll see.

Also, as I said before it could give people an idea of risk/on risk/off sentiment which should affect GBP/JPY and EUR/JPY if I am not mistaken?
Trade at your own risk.
  • #2,165
  • Mar 11, 2013 5:20pm Mar 11, 2013 5:20pm
Quoting Fx3423454
I guess you've married the old girl. lol

I am working on being nimble and getting in and out of the strongest currencies vs. JPY on any given day, etc.
I know that a lot of folks use oscillators to buy their favorite currencies and then wait for them to rebound.

This strategy is good but have you ever seen a currency take off and it was never even oversold?
Or how about when you buy a currency when it is oversold and in an uptrend and then it goes even lower? lol

You sit around wondering when it's going to pop up again?
Well, I think...
I don't believe in the "overbought"/"oversold" mantra that some tout. That's not how I trade, so I can't comment there.

However, any time someone starts using the word "exactly" in a trading context, I get suspicious and run for the hills. There's no such thing as exact in this game, but the fools are always chasing it. They call it the holy grail (or something like that).
check out my blog: forexmademillionaire dot com
  • #2,166
  • Mar 11, 2013 5:21pm Mar 11, 2013 5:21pm
Quoting Geppy
Rumour – Incoming BOJ head Kuroda may hold emergency meeting ahead of Apr. 3 to ease policy

link here: http://www.forexlive.com/blog/2013/0...o-ease-policy/
UPDATE:

Added: From a Nikkei news article – Kuroda has hinted he may move to ease further, as soon as next week, before the April 3 & 4 BOJ policy meeting

(same link)
check out my blog: forexmademillionaire dot com
  • #2,167
  • Mar 11, 2013 5:29pm Mar 11, 2013 5:29pm
Quoting Geppy
I don't believe in the "overbought"/"oversold" mantra that some tout. That's not how I trade, so I can't comment there.

However, any time someone starts using the word "exactly" in a trading context, I get suspicious and run for the hills. There's no such thing as exact in this game, but the fools are always chasing it. They call it the holy grail (or something like that).
Maybe I shouldn't have used the word "exactly" but when I see traders waiting days or weeks for a trade to take off...

Narrowing that down to minutes or hours seems a lot more "exact".
Trade at your own risk.
  • #2,168
  • Mar 11, 2013 5:35pm Mar 11, 2013 5:35pm
Quoting Fx3423454
Maybe I shouldn't have used the word "exactly" but when I see traders waiting days or weeks for a trade to take off...

Narrowing that down to minutes or hours seems a lot more "exact".
The lion's share of the money is always made waiting.
check out my blog: forexmademillionaire dot com
  • #2,169
  • Mar 11, 2013 5:43pm Mar 11, 2013 5:43pm
Quoting Geppy
The lion's share of the money is always made waiting.
Perhaps, but I was alerted about Geppy at noon today and this is pretty much when it began to take off.

In any event, it's good to be connected with traders with all different styles and systems.
Trade at your own risk.
  • #2,170
  • Mar 11, 2013 5:45pm Mar 11, 2013 5:45pm
Quoting albchr
40 minutes to close this 4H. Would love to see it close over the DP and perhaps a daily over 144.10? (61.8 / 144.088)

Ghost Rider - WWTBMD?
  • #2,171
  • Mar 11, 2013 5:46pm Mar 11, 2013 5:46pm
Quoting albchr
haha yeah dude... diggin' this late day PA. I forgot, your 4h candle is different than mine.
check out my blog: forexmademillionaire dot com
  • #2,172
  • Mar 11, 2013 5:52pm Mar 11, 2013 5:52pm
Quoting Geppy
haha yeah dude... diggin' this late day PA. I forgot, your 4h candle is different than mine.
Now Now...this is no time to go comparing candles..... ....

I felt better about the possibility of this when that last 4H DID close over the DP. +160ish so far but watch it bounce here a bit.
Attached Image (click to enlarge)
Click to Enlarge Name: gj_4h.gif Size: 21 KB
Ghost Rider - WWTBMD?
  • #2,173
  • Mar 11, 2013 5:53pm Mar 11, 2013 5:53pm
Quoting albchr
Now Now...this is no time to go comparing candles..... ....

I felt better about the possibility of this when that last 4H DID close over the DP.
I'm liking that 76.4% for near term target. I don't usually plot that one. Do you see PA react pretty good around it?
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  • #2,174
  • Mar 11, 2013 6:00pm Mar 11, 2013 6:00pm
Quoting Geppy
I'm liking that 76.4% for near term target. I don't usually plot that one. Do you see PA react pretty good around it?
I'd be lost without it quite frankly. It's a good mark for sure and almost always a good southern bounce test. In this case it also coinsides with the 61.8 monthly (163.06 high August 2009) as well so I'm expecting that 145.40/60 area to be good resistance.
Ghost Rider - WWTBMD?
  • #2,175
  • Mar 11, 2013 6:02pm Mar 11, 2013 6:02pm
Quoting albchr
I'd be lost without it quite frankly. It's a good mark for sure and almost always a good southern bounce test. In this case it also coinsides with the 61.8 monthly (163.06 high August 2009) as well so I'm expecting that 145.40/60 area to be good resistance.
Thanks dude, I'll have to give it a whirl and put it on my fibos. It caught my eye because 145.50 is my TP on this leg for now, but I got there just looking at previous S/R and confluence areas.
check out my blog: forexmademillionaire dot com
  • #2,176
  • Mar 11, 2013 6:11pm Mar 11, 2013 6:11pm
Whats up guys, just checked the quotes a few min ago, and I like what I see, at least 1 thing is going right:/. Back to do some family things..

And gep, that indicator seems to be working quite well
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  • #2,177
  • Mar 11, 2013 6:16pm Mar 11, 2013 6:16pm
Thanks, everyone, for the good vibes it means a lot.
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  • #2,178
  • Mar 11, 2013 6:20pm Mar 11, 2013 6:20pm
Quoting Geppy
Thanks dude, I'll have to give it a whirl and put it on my fibos. It caught my eye because 145.50 is my TP on this leg for now, but I got there just looking at previous S/R and confluence areas.
Precisely what led me to plot it in the first place long ago after seeing the horizontals I was drawing being there. I'm lazy and it just draws the horizontal there for me.

A little easier to see on the week chart here. The red arrow is where that 74.6 on the 4H is (within 20 pips) and the green arrow is the 74.6 monthly. PA reacts nicely around it.
Attached Image (click to enlarge)
Click to Enlarge Name: gj_week_1.gif Size: 21 KB
Ghost Rider - WWTBMD?
  • #2,179
  • Mar 11, 2013 6:22pm Mar 11, 2013 6:22pm
Quoting BobGnarly
Thanks, everyone, for the good vibes it means a lot.
Right there with ya bro.
Ghost Rider - WWTBMD?
  • #2,180
  • Edited 6:54pm Mar 11, 2013 6:37pm | Edited 6:54pm
Man this "feels" a LOT like buy the rumor...sell the news.

EDIT: I banked my 143.26 @ 144.07. Holding the 143.14 and covered @ +35
Ghost Rider - WWTBMD?
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