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Geppy's Geppy Thread (GBP/JPY)

  • #3,161
  • Mar 25, 2013 8:27pm Mar 25, 2013 8:27pm
haha yeah I think we're all guilty of that in life - trying to make square pegs fit into triangular holes.. well I def have been in past - esp in trading

approaching my blue highlighted line - will check it out and see how it plays with it - thanks for sharing the ema cross over mate - will keep them on file now for some added bonuses!

Quoting Geppy
A fib standing alone is just that... number/vibration/whatever.

However, if it does correlate with some other support/resistance, confluence, trendline, etc. then yes: support terms resistance and vice versa. It just seems he was looking purely at fib zones and using them by themselves which I generally don't advise.

It's easy to find something, anything, that will offer support or resistance if you want it to fit your analysis. It's amazing how clearly things become when you're flat
"Millionaires don't use astrology, billionaires do"
  • #3,162
  • Mar 25, 2013 8:38pm Mar 25, 2013 8:38pm
Quoting BobGnarly
Maybe he is proving me wrong

Kuroda will consider scrapping banknote rule




The ‘banknote rule’ is a self-imposed rule which caps the BOJ’s JGBs holidngs to an amount equivalent to bank notes in circulation. The US Fed, for example, does not have such a rule.
Fiscal year end japan
  • #3,163
  • Mar 25, 2013 8:40pm Mar 25, 2013 8:40pm
Interestingly, that 50-200 cross happened exactly on my 333 sma line....on the H1.....cool
  • #3,164
  • Mar 25, 2013 8:40pm Mar 25, 2013 8:40pm
But you are the investor so you probally already knowed that he?

here last year fiscal end

http://www.reuters.com/article/2012/...8ES1AR20120328
  • #3,165
  • Mar 25, 2013 8:45pm Mar 25, 2013 8:45pm
Quoting Geppy
I don't understand how anyone can justify holding longs right now. If you aren't short, you should be flat IMO (unless you're trying for a quick long scalp).

I'll point it out ONE more time since nobody wanted to listen to me the last time it occurred:
Because your opinion is not the only opinion out there. More than one way to skin a cat
  • #3,166
  • Mar 25, 2013 8:45pm Mar 25, 2013 8:45pm
Quoting ingmarforex
But you are the investor so you probally already knowed that he?

here last year fiscal end

http://www.reuters.com/article/2012/...8ES1AR20120328

I am very well aware of the year end in japan.. Why else would we be dipping currently? Keep selling them so I can keep buying them
Want the lifestyle of the top traders in the world? TAKE RISK.
  • #3,167
  • Mar 25, 2013 8:48pm Mar 25, 2013 8:48pm
I will no worries i like to buy lower not a shakeout
  • #3,168
  • Mar 25, 2013 8:49pm Mar 25, 2013 8:49pm
talking uy 90
  • #3,169
  • Mar 25, 2013 8:49pm Mar 25, 2013 8:49pm
Quoting ingmarforex
talking uy 90

I do not see that being possible... but to each their own
Want the lifestyle of the top traders in the world? TAKE RISK.
  • #3,170
  • Mar 25, 2013 10:26pm Mar 25, 2013 10:26pm
Quoting Geppy
You're right, the 76.4 has capped the upmove. However, you can't really be using fib retracements for support when drawn on down moves (the way you have it)... they are resistance. If the fibs were drawn from a low to a high, then they are support. You can't have it both ways.
I guess I see the levels as one and the same depending on which side price is relative to the line.
  • #3,171
  • Mar 26, 2013 1:38am Mar 26, 2013 1:38am
Quoting Geppy
I don't understand how anyone can justify holding longs right now. If you aren't short, you should be flat IMO (unless you're trying for a quick long scalp).

I'll point it out ONE more time since nobody wanted to listen to me the last time it occurred:
opportunistic long based on 4hr??...but i just cant pull the trigger based on the downside open for a quick swift and easy attack, could be right for a freefall....i'm actually short on eur/jpy on shorter tfs.
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  • #3,172
  • Edited 3:14am Mar 26, 2013 2:28am | Edited 3:14am
Quoting GDR3k
Given the nature of this downmove, it looks more like a clean out of retail longs, I think we'll be back at 143.50 very soon, but we will see...
Almost there, looking at the 4hr chart I can spot a couple of harmonic patterns which have formed due to this most recent drop yesterday, I've just dragged up a fib tool and there is indeed a bullish crab pattern from the start of this month going to the high of the month, to that small swing inside then the drop yesterday, while I understand why alot of you are shorting the hell out of this, I'm going for long positions if todays daily candle finishes bullish

From what I've noticed from eyeballing charts for quite some time, is these patterns form most of the time, especially this most recent one, which I've drawn on the chart below, price makes what looks like a new low, like yesterdays drop, only to stall, change direction and fire off in the other direction, breaking out to new highs.



Trade safe, anything could happen.
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  • #3,173
  • Edited 4:24am Mar 26, 2013 3:36am | Edited 4:24am
Just took a small long at 142.95, very very low risk.

gotta nip out for the rest of the day, back tonight.
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  • #3,174
  • Mar 26, 2013 4:54am Mar 26, 2013 4:54am
Quoting forex_growth
possible food for thought also... usdjpy daily chart - I was lucky I made some pips on the way down on the beast (pocket money) - but mostly because I was short the eurusd and watched JPY get bought thanks to Cyprus issues - also kept tight sl on her.

looking to potentially buy around current levels if cable stays put and we dont break this trend line... guess will check PA and keep stop losses tight - if at first I dont try I may sit back and watch for next levels..

if I was to sell I missed the ship, but wouldnt mind seeing it around 143.5,...
Hey FG, I hear what you're saying and oddly enough, I was hoping to see a test of the same broken TL. I've had this (red) on my 4H for a while now. It's interesting that when I drew another one (Green) to include the low of the 22nd, it seems (at least for now) it's been tested and rejected. Whichever way it goes, should be interesting.
Attached Image (click to enlarge)
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Ghost Rider - WWTBMD?
  • #3,175
  • Mar 26, 2013 6:57am Mar 26, 2013 6:57am
hey bro good spot!

I took profit at the highlighted area and sold there as per plan - but had too much of a tight stop loss and got closed out for a small loss - just got home and re-sold again at 143.19 - not as ideal as before but so far I think cable may help also go down today - shorted that as well

heres to green pips wheeeee

PS: wanted to upload chart but every time I press save as picture nothing happens - I use imac at home so run mt4 via wine - anyone know how to save charts like this?

much appreciated in advance

Quoting albchr
Hey FG, I hear what you're saying and oddly enough, I was hoping to see a test of the same broken TL. I've had this (red) on my 4H for a while now. It's interesting that when I drew another one (Green) to include the low of the 22nd, it seems (at least for now) it's been tested and rejected. Whichever way it goes, should be interesting.
"Millionaires don't use astrology, billionaires do"
  • #3,176
  • Mar 26, 2013 7:06am Mar 26, 2013 7:06am
Liking the last 4H close but this is moving so slow it's almost painful. Be nice to see a test of yesterdays low at 141.87ish
Attached Image (click to enlarge)
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Ghost Rider - WWTBMD?
  • #3,177
  • Mar 26, 2013 7:06am Mar 26, 2013 7:06am
Quoting forex_growth
hey bro good spot!

I took profit at the highlighted area and sold there as per plan - but had too much of a tight stop loss and got closed out for a small loss - just got home and re-sold again at 143.19 - not as ideal as before but so far I think cable may help also go down today - shorted that as well

heres to green pips wheeeee

PS: wanted to upload chart but every time I press save as picture nothing happens - I use imac at home so run mt4 via wine - anyone know how to save charts like this?

much appreciated in advance...
Command + Shift + 3 ( Will save screen shot on your desktop ) Then crop it using any image editing tool , or online too , Hope that helps
  • #3,178
  • Mar 26, 2013 7:25am Mar 26, 2013 7:25am
mate you legend thank you!



Quoting netera
Command + Shift + 3 ( Will save screen shot on your desktop ) Then crop it using any image editing tool , or online too , Hope that helps
Attached Image (click to enlarge)
Click to Enlarge Name: geppy.jpg Size: 1.4 MB
"Millionaires don't use astrology, billionaires do"
  • #3,179
  • Edited 8:10am Mar 26, 2013 7:38am | Edited 8:10am
Quoting forex_growth
mate you legend thank you!
Welcome Bro , Also it's better to install virtual box and any windows version ( XP ) and install full metatrader and use it for trading , as wine has many disadvantages
  • #3,180
  • Mar 26, 2013 8:22am Mar 26, 2013 8:22am
Quoting netera
Welcome Bro , Also it's better to install virtual box and any windows version ( XP ) and install full metatrader and use it for trading , as wine has many disadvantages
or better yet, move away form Metatrader.
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