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Geppy's Geppy Thread (GBP/JPY)

  • #3,681
  • Apr 1, 2013 8:08pm Apr 1, 2013 8:08pm
Historically...when this kind of holiday weekend and a tuesday intersect a "wants to get kickin" market, the big directional move happens when new york has a chance to get in on the action.....I track that....it's like a big country club and they get together and agree...wait till new york has a chance to tag along for the money.

I'm wondering, ...

like 7:30 am new york time at the latest
  • #3,682
  • Apr 1, 2013 8:46pm Apr 1, 2013 8:46pm
Welp, the 38.2 is holding so far. I've got 95 locked in, a 60 pip trailer and need some sleep.

Have a good night all
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  • #3,683
  • Apr 1, 2013 9:49pm Apr 1, 2013 9:49pm
Maybe USD/YEN is on the way to 91 area, that would be a great help to get GJ lower.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #3,684
  • Apr 1, 2013 10:30pm Apr 1, 2013 10:30pm
Quoting Geppy
Target 1 of 3 hit... 40% of position came off. {image}
Target 2 of 3 hit... 20% more of original position came off (40% still riding).
Attached Image
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  • #3,685
  • Apr 1, 2013 11:29pm Apr 1, 2013 11:29pm
Here is the bridge that I would like to jump of if my view of GJ is totally wrong.
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  • #3,686
  • Apr 2, 2013 12:25am Apr 2, 2013 12:25am
Quoting KillerWhale
Here is the bridge that I would like to jump of if my view of GJ is totally wrong. {image}
cool dude...
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  • #3,687
  • Apr 2, 2013 12:37am Apr 2, 2013 12:37am
Quoting Geppy
Target 2 of 3 hit... 20% more of original position came off (40% still riding). {image}
Just closed the rest of my position out at 141.30

I feel like we could be putting in a base here... flat now. Gonna be sleeping tight tonight
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  • #3,688
  • Apr 2, 2013 2:04am Apr 2, 2013 2:04am
Quoting albchr
Welp, the 38.2 is holding so far. I've got 95 locked in, a 60 pip trailer and need some sleep. Have a good night all {image}
+175, 140 locked....letting it roll and back to sleep. I think the 50% is coming but then, who cares.
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  • #3,689
  • Apr 2, 2013 3:59am Apr 2, 2013 3:59am
Backed my SL off a little to see if it's just testing the 38.2. If this hour closes above 141.80 I may close it here.
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  • #3,690
  • Apr 2, 2013 4:19am Apr 2, 2013 4:19am
That little news related spike would have been "just" enough to take me out. Let's see if it drops from here.

Still trailing with 60
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  • #3,691
  • Apr 2, 2013 4:41am Apr 2, 2013 4:41am
Not currently in any position due to the engulfment not being close enough for a zone for me. However the head and shoulders pattern has not been invalidated yet. Potentially a very short biased looking daily chart.

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  • #3,692
  • Apr 2, 2013 4:46am Apr 2, 2013 4:46am
Second test? LOL ... I hate it when it gets like this. Both the yen and pound are falling. Just a question of which falls faster and or which stops first...
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  • #3,693
  • Apr 2, 2013 5:02am Apr 2, 2013 5:02am
I didn't get that last leg down, I closed before I went to sleep.
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  • #3,694
  • Apr 2, 2013 5:03am Apr 2, 2013 5:03am
Quoting KillerWhale
I didn't get that last leg down, I closed before I went to sleep.
Seems that 141.85 is resistance now.
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  • #3,695
  • Apr 2, 2013 5:17am Apr 2, 2013 5:17am
Second 15M close over the 50ema. May be time to bank and wait another setup.
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  • #3,696
  • Apr 2, 2013 5:21am Apr 2, 2013 5:21am
Quoting blobsaudio
Not currently in any position due to the engulfment not being close enough for a zone for me. However the head and shoulders pattern has not been invalidated yet. Potentially a very short biased looking daily chart. {image}
Just curious sir, how close to your zone would it have to close for you to take a position? Or would it need to close inside a zone.
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  • #3,697
  • Apr 2, 2013 5:42am Apr 2, 2013 5:42am
Depends on the time frame. My general rule is the high or low being a maximum of 20 pips away from the zone on a 1hr time frame, as my zones are closer together on a 1hr time frame. On a daily chart, the high or low is ideally within 40 pips, on a yen pair I may go to 50 pips.

If an engulfing candle goes through a zone it needs to go through comfortably on the daily or hourly, ideally with a third or more of the candle on the other side. If a candle engulfs just below or above a zone I am not interested.
  • #3,698
  • Apr 2, 2013 5:46am Apr 2, 2013 5:46am
Quoting blobsaudio
Depends on the time frame. My general rule is the high or low being a maximum of 20 pips away from the zone on a 1hr time frame, as my zones are closer together on a 1hr time frame. On a daily chart, the high or low is ideally within 40 pips, on a yen pair I may go to 50 pips. If an engulfing candle goes through a zone it needs to go through comfortably on the daily or hourly, ideally with a third or more of the candle on the other side. If a candle engulfs just below or above a zone I am not interested.
Thanks
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  • #3,699
  • Apr 2, 2013 5:57am Apr 2, 2013 5:57am
Quoting albchr
Thanks
Your welcome, there are also other conditions that have to be met.
  • #3,700
  • Apr 2, 2013 6:40am Apr 2, 2013 6:40am
Quoting blobsaudio
Your welcome, there are also other conditions that have to be met.
I'm sure there are. One thing I know about trading, at times there are many things to watch to determine what to do.

Meanwhile, tick...tick...tick....
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