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Geppy's Geppy Thread (GBP/JPY)

  • #3,741
  • Apr 2, 2013 2:17pm Apr 2, 2013 2:17pm
Quoting Geppy
Yeah, they definitely aren't materializing much... but there hasn't been much follow through to the downside either
There's like almost no trading going on. But the pound just breached support and isn't looking healthy. Yen actually gained a bit last hour.
Ghost Rider - WWTBMD?
  • #3,742
  • Apr 2, 2013 2:25pm Apr 2, 2013 2:25pm
Quoting albchr
There's like almost no trading going on. But the pound just breached support and isn't looking healthy. Yen actually gained a bit last hour.
Yep, definitely leaves us with little action on geppy. However, I am seeing some MACD divergence on the 15min-1h TFs. We could be putting in a bottom here still. I added one at .05 but I'm not adding any more until we're at least above .50
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  • #3,743
  • Apr 2, 2013 2:36pm Apr 2, 2013 2:36pm
Quoting Geppy
Yep, definitely leaves us with little action on geppy. However, I am seeing some MACD divergence on the 15min-1h TFs. We could be putting in a bottom here still. I added one at .05 but I'm not adding any more until we're at least above .50
I was/am tempted to as well. Last 30M showed more activity than the last 4 bars did so maybe a little late day action again. Still holding as of now.
Ghost Rider - WWTBMD?
  • #3,744
  • Apr 2, 2013 2:38pm Apr 2, 2013 2:38pm
This is fun, this is fun. I'm only looking every 6 or 7 minutes...but I can do 16 hours a day The best part is this international chatroom you started,Geppy. cool find for me.!
  • #3,745
  • Apr 2, 2013 2:46pm Apr 2, 2013 2:46pm
Well, watching the 5M I added one at .07. I have tight stops so I'm only risking 1/3 of what I just banked this morning. For better or worse, let's see how it goes.
Ghost Rider - WWTBMD?
  • #3,746
  • Apr 2, 2013 3:06pm Apr 2, 2013 3:06pm
Quoting Gbp/jpy
This is fun, this is fun. I'm only looking every 6 or 7 minutes...but I can do 16 hours a day The best part is this international chatroom you started,Geppy. cool find for me.!
haha, glad you're enjoying it man. I'm in and out all day because I keep the tab up on my computer during the day. It definitely gives trading a more "office" feel and less of a solo adventure.
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  • #3,747
  • Apr 2, 2013 3:57pm Apr 2, 2013 3:57pm
Interesting little read here, guys and gals:

Stephen Jen: Sell-Off In USD/JPY Doesn’t Make Sense

http://www.forexlive.com/blog/2013/0...nt-make-sense/
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  • #3,748
  • Apr 2, 2013 4:06pm Apr 2, 2013 4:06pm
Quoting Geppy
Interesting little read here, guys and gals: Stephen Jen: Sell-Off In USD/JPY Doesn’t Make Sense http://www.forexlive.com/blog/2013/0...nt-make-sense/
Ok.....Bob!

Sorry.. I just couldn't resist
Ghost Rider - WWTBMD?
  • #3,749
  • Apr 2, 2013 4:11pm Apr 2, 2013 4:11pm
Quoting albchr
Ok.....Bob! Sorry.. I just couldn't resist
hahahaha!

This crap is crazy, and I've seen it before: lots of hype then disappointment.

But the BoJ has a lot on the line here, and I'm wondering if they don't just come out guns a blazin'.

I'd like to hold on to the longs I've put on this morning in hopes they put some distance between my entry and price (100-150 pips in profit?). If that can materialize, I'd take a gamble on holding through the conclusion of the meeting as the risk reward at that point would be quite good. e.g. I lose the 100 or so pips in profit on a disappointment, or make a couple hundred (or more) the other way.

We'll see, the next few days will definitely be interesting.
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  • #3,750
  • Apr 2, 2013 4:20pm Apr 2, 2013 4:20pm
Quoting Geppy
hahahaha! This crap is crazy, and I've seen it before: lots of hype then disappointment. But the BoJ has a lot on the line here, and I'm wondering if they don't just come out guns a blazin'. I'd like to hold on to the longs I've put on this morning in hopes they put some distance between my entry and price (100-150 pips in profit?). If that can materialize, I'd take a gamble on holding through the conclusion of the meeting as the risk reward at that point would be quite good. e.g. I lose the 100 or so pips in profit on a disappointment, or make...
As we've discussed, that would be the perfect scenario to be sure. At 100-150 I'd cover mine by a few and not worry one bit about the outcome.

My biggest worry about this right now? The dam market (yen cross wise) stays like this until the announcement. While probably unlikely, It wouldn't be the first time I've seen two days of stall before a big event.
Ghost Rider - WWTBMD?
  • #3,751
  • Apr 2, 2013 4:23pm Apr 2, 2013 4:23pm
Quoting albchr
As we've discussed, that would be the perfect scenario to be sure. At 100-150 I'd cover mine by a few and not worry one bit about the outcome. My biggest worry about this right now? The dam market (yen cross wise) stays like this until the announcement. While probably unlikely, It wouldn't be the first time I've seen two days of stall before a big event.
Definitely a possibility, but the good thing: we've already had a good week
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  • #3,752
  • Apr 2, 2013 4:39pm Apr 2, 2013 4:39pm
Quoting Geppy
Definitely a possibility, but the good thing: we've already had a good week
No doubt bro

Actually regarding that news about the sell off. It makes perfect sense to me for the market to position itself in front of the "expected" news. In the case of the yen, buy the rumor, sell the news.

The odd thing to me is it "generally" likes the 50% of the last largest range from which to launch. If we assume that range is from the August 2009 high to the September 2011 low, 50% is 139.939 or roughly 100 pips below us now. That's pretty much why my last short target was 140.30ish figuring a TP just a bit above that.

So there is still today and tomorrow to reach that 50% and obviously, I now hope I'm 100% wrong...LOL
Ghost Rider - WWTBMD?
  • #3,753
  • Apr 2, 2013 7:25pm Apr 2, 2013 7:25pm
Looking at the 5min chart, I'd like to see price break the 200ema (yellow line).

It has been solid resistance and is where we failed this morning. Keep an eye on her!
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  • #3,754
  • Apr 2, 2013 7:38pm Apr 2, 2013 7:38pm
Quoting Geppy
Looking at the 5min chart, I'd like to see price break the 200ema (yellow line). It has been solid resistance and is where we failed this morning. Keep an eye on her! {image}
mission accomplished...
A man is what he thinks about all day long. - Ralph Waldo Emerson
  • #3,755
  • Apr 2, 2013 7:44pm Apr 2, 2013 7:44pm
Quoting fxrustyspoon
mission accomplished...
Halfway.

Looking for the 55ema (green line) crossover to feel we've turned the corner.
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  • #3,756
  • Apr 2, 2013 7:49pm Apr 2, 2013 7:49pm
Quoting Geppy
Halfway. Looking for the 55ema (green line) crossover to feel we've turned the corner.
how far could they take it up before they bring it back down or did we hit bottom? But i know albchr was hoping for 140.30...?
A man is what he thinks about all day long. - Ralph Waldo Emerson
  • #3,757
  • Apr 2, 2013 7:57pm Apr 2, 2013 7:57pm
Quoting fxrustyspoon
how far could they take it up before they bring it back down or did we hit bottom? But i know albchr was hoping for 140.30...?
You should really read back a few pages. It'd answer your questions.
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  • #3,758
  • Apr 2, 2013 8:01pm Apr 2, 2013 8:01pm
watch 141.15
  • #3,759
  • Apr 2, 2013 8:02pm Apr 2, 2013 8:02pm
Quoting Geppy
You should really read back a few pages. It'd answer your questions.
ya i know i follow you guys...im a sleeper ff junkie...
A man is what he thinks about all day long. - Ralph Waldo Emerson
  • #3,760
  • Apr 2, 2013 8:11pm Apr 2, 2013 8:11pm
my plan, is buying at 141.15 with tight stops. Good R/R potential.
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