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Geppy's Geppy Thread (GBP/JPY)

  • #4,381
  • Apr 7, 2013 8:52am Apr 7, 2013 8:52am
Quoting KillerWhale
Christ, just looked at XE.com and there it is: GJ GAP 110 pips down, @ 148.50
It's been reading that way since the close on Friday... I wouldn't be buying too much into it until we get closer to the open.
check out my blog: forexmademillionaire dot com
  • #4,382
  • Apr 7, 2013 8:53am Apr 7, 2013 8:53am
Quoting Scrat
yes. but the thing is... even if all japanese people would put their money abroad, yen wouldn't be affected, well maybe as much as a fart from an occasional indigestion. it's all about the big sharks, isn't it. people like soros et co, and i believe they know exactly what to do. i know i would. i seriously doubt boj has enough resources to force all major sharks into an unwanted direction. look what happened with soros and boe in the past... there will be no avalanche unless big players want it, and if yes then guess what they'll do. buy when there's...
I hear ya, Scrat. And I agree. But if I were a big player in Japan, I definitely wouldn't be keeping my money in Yen...
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  • #4,383
  • Apr 7, 2013 9:02am Apr 7, 2013 9:02am
No real change here folks..Trade safe!
Attached Image (click to enlarge)
Click to Enlarge Name: Apr 7 pre open.PNG Size: 78 KB
  • #4,384
  • Apr 7, 2013 9:02am Apr 7, 2013 9:02am
Quoting KillerWhale
Wow you must be really doing good here in forex. (I'm not surprised) Del Mar is kind of expensive to live, it's beautiful but there is one thing I hate about Del Mar, that's the traffic. But oh well, I wish you and Geppy both the best for next weeks trading GJ. By the way, do you know Wulfgar (active FF member)? He lives in Del Mar too. And then, here is a special for you and Geppy: http://www.youtube.com/watch?v=BADZW9tZ1uc
lol thanks dude. Hope you have a good week too. I'm ready to get started!
check out my blog: forexmademillionaire dot com
  • #4,385
  • Apr 7, 2013 9:31am Apr 7, 2013 9:31am
If anybody is interested here is my Trade Idea For The Week supported by Weekly and Daily charts.

Trade Idea For The Week - LONG GBP/JPY

As you all know USD/JPY and ALL of the JPY cross pairs are in very strong weekly uptrends and have recently just broken out to the upside again due to BOJ monetary decisions.

From the last two posts in regards to GBP/USD and GBP/AUD you can see that I am expecting a possible short to mid-term trend reversal to the upside during the coming weeks for those two pairs.

Therefore, if looking to long JPY cross pairs I think that GBP/JPY will be the biggest winner this week!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPY_-_Weekly_(4-7).png Size: 128 KB
Click to Enlarge Name: GBPJPY_-_Daily_(4-7).png Size: 102 KB
Click to Enlarge Name: GBPJPY_-_H1_(4-7).png Size: 99 KB
  • #4,386
  • Apr 7, 2013 9:31am Apr 7, 2013 9:31am
Quoting albchr
I've yet to find a weekend price report I'd trust 100%. In my 'limited" experience I've found that regardless of what it does over the weekend, a lot of times it opens pretty close to where it closed Friday. That said.....I'd be happy with either of those two!
xe.com is usually pretty close
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  • #4,387
  • Apr 7, 2013 9:36am Apr 7, 2013 9:36am
Quoting Mason425
300 pip gap down, just went to http://forex.tradingcharts.com/chart...ese%20Yen.html current price 146.49
You're reading it wrong, that was the Friday opening price for some brokers.
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  • #4,388
  • Edited 10:09am Apr 7, 2013 9:52am | Edited 10:09am
Quoting Geppy
It's been reading that way since the close on Friday... I wouldn't be buying too much into it until we get closer to the open.
All I want is wait and see what happens. I have a small short at the moment because my system tells me I should be short now.

If I had followed my own system as defined in my business plan, I would have collected almost a 1000 pips Thursday and Friday, but I didn't believe my own proven system because of the speed things were happening.
So I lost out on almost 700 of those pips.
My system told me I should have been long Thursday night @ 141.58 and close @ 146.59, then long again 146.83 - 147.44, then short 147.44 - 146.58
and then long 146.62 - 150.00. And no losses at all.

That's a total of 961 pips and I only got 300 pips or so and lost 45 pips due to my own stubbornness.

Lesson learned again!
Always stick with a proven system.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #4,389
  • Apr 7, 2013 11:39am Apr 7, 2013 11:39am
Quoting 100PipsADay
If anybody is interested here is my Trade Idea For The Week supported by Weekly and Daily charts. Trade Idea For The Week - LONG GBP/JPY As you all know USD/JPY and ALL of the JPY cross pairs are in very strong weekly uptrends and have recently just broken out to the upside again due to BOJ monetary decisions. From the last two posts in regards to GBP/USD and GBP/AUD...
Looks a solid setup and a good entry makes it possible for lots of good pips. Would like to know though if you were looking to buy more on breaks of those resistance levels.
  • #4,390
  • Apr 7, 2013 11:56am Apr 7, 2013 11:56am
Quoting Unknownpips
Looks a solid setup and a good entry makes it possible for lots of good pips. Would like to know though if you were looking to buy more on breaks of those resistance levels.
I only enter positions once H1 is over sold / over bought using Williams % for each pair that is traded.
  • #4,391
  • Apr 7, 2013 12:42pm Apr 7, 2013 12:42pm
xe.com now gives 150.06 for gj, that's 150 pips up from a few hours ago
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  • #4,392
  • Apr 7, 2013 12:47pm Apr 7, 2013 12:47pm
Quoting KillerWhale
xe.com now gives 150.06 for gj, that's 150 pips up from a few hours ago
Yea it looks like just about all JPY cross pairs are going to be opening higher than when retail brokers closed on Friday. The following screen shot was taken about 30 minutes ago or so for JPY rates at XE...
Attached Image (click to enlarge)
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  • #4,393
  • Apr 7, 2013 1:00pm Apr 7, 2013 1:00pm
Quoting 100PipsADay
Yea it looks like just about all JPY cross pairs are going to be opening higher than when retail brokers closed on Friday. The following screen shot was taken about 30 minutes ago or so for JPY rates at XE... {image}
That is one huge spike. Wondering if Tokyo open will keep momentum to the upside. I am a bit surprised actually and will be even more so if we have dips from here.
  • #4,394
  • Apr 7, 2013 1:11pm Apr 7, 2013 1:11pm
Quoting KillerWhale
xe.com now gives 150.06 for gj, that's 150 pips up from a few hours ago
Yeah, a little more accurate now huh?
check out my blog: forexmademillionaire dot com
  • #4,395
  • Apr 7, 2013 1:19pm Apr 7, 2013 1:19pm
150.40 now... glad I held over the weekend

I had a feeling this may happen.
check out my blog: forexmademillionaire dot com
  • #4,396
  • Apr 7, 2013 1:50pm Apr 7, 2013 1:50pm
Big question for those of us who don't currently have long jpy cross pairs positions is... are we going to end up closing the gap

Would make for a great opportunity to enter if we do... but bullish momentum is so strong at the moment.
"If you won't risk the usual, you'll have to settle for the ordinary."
  • #4,397
  • Apr 7, 2013 2:01pm Apr 7, 2013 2:01pm
Nice gap eh, so tempting to short it
  • #4,398
  • Apr 7, 2013 2:14pm Apr 7, 2013 2:14pm
It was at 140.50 on Thursday and now its at 150.50.. Absolute madness but thats why I love this pair, it moves.

I won't be doing much trading until Wednesday, quite busy until then.
  • #4,399
  • Apr 7, 2013 2:17pm Apr 7, 2013 2:17pm
Quoting Geppy
150.40 now... glad I held over the weekend I had a feeling this may happen.
Congrats.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #4,400
  • Apr 7, 2013 2:25pm Apr 7, 2013 2:25pm
Thats quite a jump and I do wonder if it will make its way down to the new support by London open.
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