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Geppy's Geppy Thread (GBP/JPY)

  • #2,501
  • Mar 15, 2013 10:21am Mar 15, 2013 10:21am
Quoting Geppy
novel. I've never met ANYONE who doesn't both buy and sell.
Geppy, What i saw was you are adding only Longs!! while I scalp. We both are Right! Nothing wrong with your long term strategy. I dont!!
  • #2,502
  • Mar 15, 2013 10:21am Mar 15, 2013 10:21am
Quoting albchr
YEP! And actually Geppy, we may get a nice test of the 61.8% here. If so that will be my last buy in. I think I can afford 3 now....LOL
Definitely possible, it was pretty solid resistance.
check out my blog: forexmademillionaire dot com
  • #2,503
  • Mar 15, 2013 10:23am Mar 15, 2013 10:23am
Quoting behman8850
I guess so! Lets see whether we Reach there, n when.! GL. Atleast on my Hr 1 chart it shows that we WILL bethere like previously shown from 145.63 to 144.64 now to 142.57.
Well I certainly wish you the best and if I may, I'd recommend covering that short ASAP just to be on the safe side. It's a CT trade and the BEAST isn't very nice about them most times. Especially on Fridays.
Ghost Rider - WWTBMD?
  • #2,504
  • Mar 15, 2013 10:28am Mar 15, 2013 10:28am
Quoting Geppy
Dude, don't read so much into it. Nothing goes in a straight line forever.
Quoting Geppy
This is a minor correction.
Yes, how quickly I forget to keep my emotions in check. Surely something I have yet to master, friend.

Quoting Pip Anon
A little blurb on forexpros.com:
Quoting Pip Anon
Sounds good too me.
Sounds good to me too! Let's hope!

Quoting albchr
Basically a just a combination of an expected sell off (profit taking), SR (1H 55ema, DP and fib) on the charts posted before and the index charts here. Expected some correction on both the YEN and Pound after yesterday to the nearest SR on each. Also all that info on the possible YEN selling.


Thanks a lot for this. I am not so good with understanding the ema and ma, but I'd like to familiarize myself with it. I see that Geppy, you also use a few too and have referrred to it. I am taking notes and learning from you all here. I do consider this to be a pretty valuable thread in my trading life. By the looks of the number of viewers, others do too.
  • #2,505
  • Mar 15, 2013 10:30am Mar 15, 2013 10:30am
did you see this, geppy?......kind of fits with g/j ;-o..long again at 50

enjoy the ride


http://video.ca.msn.com/watch/video/...en-ca-infopane
  • #2,506
  • Mar 15, 2013 10:44am Mar 15, 2013 10:44am
I am a big fan of zones, mine may be a little off but I would expect it to head for the blue circle area. A zone, Mid support line and a line from the 2 previous lows.

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  • #2,507
  • Mar 15, 2013 10:45am Mar 15, 2013 10:45am
It's getting jacked up
When the facts change I change my mind, what do you do sir
  • #2,508
  • Mar 15, 2013 10:47am Mar 15, 2013 10:47am
Quoting Oser
Yes, how quickly I forget to keep my emotions in check. Surely something I have yet to master, friend.

I am not so good with understanding the ema and ma, but I'd like to familiarize myself with it.
Yes, emotion control is KEY in trading. If you're not prepared to write the check (accept the loss) for a trade "before" entering it, don't. That takes a lot of the emotion out of the equation for me.

Well just know that MA's are just visual "filters" for the eye and NOT brick walls. In this case, the 55ema (Blue) on a 1H chart (Geppy uses a 50, not much different), is "normally" a decent place to look for a "bounce" not a turn around. But because price "might" turn there, I'll usually enter there with the trend in case it does. But as you can see here, it bounced at the 55 and is now moving lower through it. Hopefully to just test the 61.8% fib.

Just take small steps bro and ALWAYS work with the trend seen on the Monthly, Weekly and Daily charts.
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Ghost Rider - WWTBMD?
  • #2,509
  • Mar 15, 2013 10:51am Mar 15, 2013 10:51am
Quoting albchr
Well I certainly wish you the best and if I may, I'd recommend covering that short ASAP just to be on the safe side. It's a CT trade and the BEAST isn't very nice about them most times. Especially on Fridays.
Thank you my friend.
  • #2,510
  • Mar 15, 2013 10:56am Mar 15, 2013 10:56am
Quoting Pip Anon
It's getting jacked up
Looks that way for the time being.
  • #2,511
  • Mar 15, 2013 10:57am Mar 15, 2013 10:57am
Quoting Oser
Looks that way for the time being.
looks like short covering on the YEN
When the facts change I change my mind, what do you do sir
  • #2,512
  • Mar 15, 2013 11:04am Mar 15, 2013 11:04am
Quoting Pip Anon
looks like short covering on the YEN

What's that mean?
  • #2,513
  • Edited 11:08am Mar 15, 2013 11:06am | Edited 11:08am
Quoting Oser
Albchr may have called the bottom for the day. Nice call.
Still think I called the bottom? ... Nobody ever "knows"

Hopefully 143.80ish will be it and these SR areas on the indexes will hold.
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Ghost Rider - WWTBMD?
  • #2,514
  • Mar 15, 2013 11:11am Mar 15, 2013 11:11am
Quoting albchr
Still think I called the bottom? ... Nobody ever "knows"

Hopefully 143.80ish will be it and these SR areas on the indexes will hold.

Hopefully you're right...


this time!

I think this has to do with profit taking - we're seeing the same drop with usdjpy so I assume this has to do with that.

I'm not pulling. Staying strong and long for the long term. I wish I could master counter trend scalps, but I get all beat up with that. Behman makes a good point about both strategies being able to be "right" - such paradoxes seem to be attracted to FX.

EDIT: If I were at home and able to to do, I would buy more at this level.
  • #2,515
  • Mar 15, 2013 11:11am Mar 15, 2013 11:11am
Quoting Oser
What's that mean?
Typically when something is shorted to such a degree, such as the YEN, traders will cover there shorts. Profit taking, risk aversion whatever the cause.
When the facts change I change my mind, what do you do sir
  • #2,516
  • Mar 15, 2013 11:12am Mar 15, 2013 11:12am
Quoting albchr
Still think I called the bottom? ... Nobody ever "knows"

Hopefully 143.80ish will be it and these SR areas on the indexes will hold.
yep!
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  • #2,517
  • Mar 15, 2013 11:12am Mar 15, 2013 11:12am
Quoting Oser
Hopefully you're right...


this time!

I think this has to do with profit taking - we're seeing the same drop with usdjpy so I assume this has to do with that.

I'm not pulling. Staying strong and long for the long term. I wish I could master counter trend scalps, but I get all beat up with that. Behman makes a good point about both strategies being able to be "right" - such paradoxes seem to be attracted to FX.
It is. GBPJPY was overextended (at least on the 4H). Quick drop. It may rebound before close.
When the facts change I change my mind, what do you do sir
  • #2,518
  • Mar 15, 2013 11:14am Mar 15, 2013 11:14am
Quoting Pip Anon
Typically when something is shorted to such a degree, such as the YEN, traders will cover there shorts. Profit taking, risk aversion whatever the cause.

I see. What does it mean to "cover shorts?" Thanks for your patience with my ignorance here...
  • #2,519
  • Mar 15, 2013 11:15am Mar 15, 2013 11:15am
Quoting Oser
I see. What does it mean to "cover shorts?" Thanks for your patience with my ignorance here...
No problem. It means they are buying back their short positions.
When the facts change I change my mind, what do you do sir
  • #2,520
  • Mar 15, 2013 11:22am Mar 15, 2013 11:22am
Quoting Oser
Behman makes a good point about both strategies being able to be "right" - such paradoxes seem to be attracted to FX.
I have always traded both ways in any trend. It's all I know really. But it doesn't suit the test I'm putting myself through right now learning to trend trade.

I've always said (and you could read the beginning, and all thru my thread to see this), I've never believed in "trends". Just "Ranges" happening at different levels. buy sell buy sell etc. etc.

I want to be more relaxed with trading now and when I get back OTR, I won't be abe to sit at a screen anymore.

There is NO right or wrong in trading. Only wins and losses.
Ghost Rider - WWTBMD?
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