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Geppy's Geppy Thread (GBP/JPY)

  • #3,361
  • Mar 27, 2013 12:16pm Mar 27, 2013 12:16pm
Took two more shorts at 142.575 and 142.53

I'm locked and loaded for now.
check out my blog: forexmademillionaire dot com
  • #3,362
  • Mar 27, 2013 12:18pm Mar 27, 2013 12:18pm
Contrary to what everyone else is doing in here (technically I am doing nothing as I have no trade on GBP/JPY), looking at the 4HR, isn't there a good chance of a bounce here?

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  • #3,363
  • Mar 27, 2013 12:19pm Mar 27, 2013 12:19pm
Next stop 140.60?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #3,364
  • Mar 27, 2013 12:21pm Mar 27, 2013 12:21pm
My instinct is still telling me it'll rise this week, I've just got that lovin' feelin I guess.

If this area doesn't hold, next target is the 61% fib/141.00 area from the low at 137.85 to the high of 146.
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  • #3,365
  • Mar 27, 2013 12:22pm Mar 27, 2013 12:22pm
Quoting blobsaudio
Contrary to what everyone else is doing in here (technically I am doing nothing as I have no trade on GBP/JPY), looking at the 4HR, isn't there a good chance of a bounce here?

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It depends on how you look at it (like most things in trading).

On one hand... yes, we've bounced here before. So it could be a good risk/reward to take longs with the thinking that we'll bounce here again.

On the other hand... take a look at your chart. It's clear we've been making lower highs since our failure to get above 146 on the 15th and even more clearly since our failure to get above 145 on the 20th/21st. The question now becomes: how long can this support hold.

It definitely feels like it's weakening and the short-term line of least resistance feels like it's lower. That's the case for shorts.

I think that pretty much sums up the rationale for each camp. Granted, if you don't feel strongly about either, then it's wise to be on the sidelines.
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  • #3,366
  • Mar 27, 2013 12:39pm Mar 27, 2013 12:39pm
I've just took a long from 142.55, target 145.50, r:r 1:1.

Good luck to all.

  • #3,367
  • Mar 27, 2013 12:53pm Mar 27, 2013 12:53pm
Quoting GDR3k
I've just took a long from 142.55, target 145.50, r:r 1:1.

Good luck to all.

Good luck to you too, bro.
check out my blog: forexmademillionaire dot com
  • #3,368
  • Mar 27, 2013 1:23pm Mar 27, 2013 1:23pm
And another short @ 142.78
New voice message: Why are you calling me? If I need you, I'll call you!
  • #3,369
  • Mar 27, 2013 1:44pm Mar 27, 2013 1:44pm
Quoting KillerWhale
If you know that, why don't you wait?
I "know" that because I was drawn down a bit at the time of writing. Right now I'm in the positive. I don't know if that will remain and I don't know how far it may draw down. I just know I am buying until it reaches my aforementioned level.

Edit:
And as I am thinking about it, your question is important and an insightful one. And I welcome the correction. I should refrain from such absolute language with what I "know," especially with regard to forex, because frankly I don't. Each trader believes themselves to have an edge at any given point in price. Depending on the strategy, timeframe, and position size, both the bear and the bull can be "right," in time.
  • #3,370
  • Mar 27, 2013 1:53pm Mar 27, 2013 1:53pm
Quoting Geppy
A simple question now warrants a "take it easy"? LOL

He was asking because he's a mooch. I hate mooches.
I just noticed that it was his first post and it was only a simple quesiton. Mooch is harsh and name calling isn't welcoming. I figured it warranted a "take it easy." No harm intended toward you in that.

I'll just keep those things to myself in the future.
  • #3,371
  • Mar 27, 2013 1:56pm Mar 27, 2013 1:56pm
yep...we're in a lifetime uptrend....on all the JPY pairs.....this is a textbook wave four in a minor count and wave three's in about four counts......so this is the last push lower....if it takes two weeks that's expected....the wave four will be complete and we'll go up like crazy, I'm sure....if one doesn't know what wave count he is in, it's probably a wave four.! then up. I posted 157.01 and we for sure will see 163.xx....

the equilibrium is way up at 192.00.....the usd/jpy wants to be at 121.xx or 125.00.....national fundamentals in Japan give us a 200.00 target(150.00 for sure)

so the battle is on now.....we'll never be back to the 130's again.....after we leave there this time....
if it busts through 137.88 this down move.....find a place to get long during the Tokyo session or the Tokyo London overlap.!
  • #3,372
  • Mar 27, 2013 2:00pm Mar 27, 2013 2:00pm
Just got back home. Things haven't moved much since noon eh? It's great to see all the varying views in here today. All with merit depending on how each trades. So let the begin!! LOL

That said....added short 142.74
Ghost Rider - WWTBMD?
  • #3,373
  • Mar 27, 2013 2:02pm Mar 27, 2013 2:02pm
Quoting albchr
Just got back home. Things haven't moved much since noon eh? It's great to see all the varying views in here today. All with merit depending on how each trades. So let the begin!! LOL

That said....added short 142.74
Totally how I see it too.

Ding! Ding!
  • #3,374
  • Mar 27, 2013 2:09pm Mar 27, 2013 2:09pm
Quoting GDR3k
I've just took a long from 142.55, target 145.50, r:r 1:1.

Good luck to all.

And to you sir.

Just please...no more pictures of Tom. That wimp in a wolf's clothing makes me ...
Ghost Rider - WWTBMD?
  • #3,375
  • Mar 27, 2013 2:32pm Mar 27, 2013 2:32pm
Quoting Oser
I just noticed that it was his first post and it was only a simple quesiton. Mooch is harsh and name calling isn't welcoming. I figured it warranted a "take it easy." No harm intended toward you in that.

I'll just keep those things to myself in the future.
Exactly. First post and he's mooching... means he's been lurking and mooching probably for much longer.

I'm all for people coming in, participating, and adding value to the conversation. But I hate a mooch and I know how to spot 'em.
check out my blog: forexmademillionaire dot com
  • #3,376
  • Mar 27, 2013 2:34pm Mar 27, 2013 2:34pm
Quoting albchr
Just got back home. Things haven't moved much since noon eh? It's great to see all the varying views in here today. All with merit depending on how each trades. So let the begin!! LOL

That said....added short 142.74
Yeah, patience bro.

The 50ema is setting up to cross the 800ema on the hourly. If you look back on the charts, that shouldn't be taken lightly.
check out my blog: forexmademillionaire dot com
  • #3,377
  • Mar 27, 2013 2:36pm Mar 27, 2013 2:36pm
Quoting Geppy
Exactly. First post and he's mooching... means he's been lurking and mooching probably for much longer.

I'm all for people coming in, participating, and adding value to the conversation. But I hate a mooch and I know how to spot 'em.
Oh crap, now I'm afraid to ask where you put your SL this time...

But then I figure since it seems ours are always within 5 to 20 pips of each other, it doesn't much matter.
Ghost Rider - WWTBMD?
  • #3,378
  • Mar 27, 2013 2:39pm Mar 27, 2013 2:39pm
Quoting Geppy
Yeah, patience bro.

The 50ema is setting up to cross the 800ema on the hourly. If you look back on the charts, that shouldn't be taken lightly.
Yep, I'm holding my third shot off for a bit. I can see this possibly extending back to the DP at 143.16 or even a touch more. If so, the sniper lies in wait.

EDIT: Never had an 800 on the hourly. Hmmmm...interesting stuff happens when they cross.
Ghost Rider - WWTBMD?
  • #3,379
  • Mar 27, 2013 2:42pm Mar 27, 2013 2:42pm
Quoting Geppy
Exactly. First post and he's mooching... means he's been lurking and mooching probably for much longer.

I'm all for people coming in, participating, and adding value to the conversation. But I hate a mooch and I know how to spot 'em.
I have no clue what a mooch is, but then, English is my second language.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #3,380
  • Mar 27, 2013 2:48pm Mar 27, 2013 2:48pm
Quoting KillerWhale
I have no clue what a mooch is, but then, English is my second language.
Getting something for nothing; benefiting from the work of others without contribution;

ie: scab, parasite.
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