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Geppy's Geppy Thread (GBP/JPY)

  • #5,901
  • Apr 16, 2013 10:57am Apr 16, 2013 10:57am
Went out to get the Mrs - im 160+ in profit on pips now, everything secured still aiming for my target for today to be reached. Bouncing off the 200EMA on the upside at the moment but still not breaking through 150.2 which seems to be quite strong resistance. Will let these play out until either stopped or banked
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  • #5,902
  • Apr 16, 2013 11:01am Apr 16, 2013 11:01am
Quoting cortmann
another short before the fall... stop already @ BE. Edit: My addition got stopped out but I re-entered at the test of my trend line @ 150.03 again. Its stop is also @ BE. Edit 2: Closed both positions as the price penetrated the trend line. That's it for me today. See you guys later... {image}
you were just on the wrong side. no big deal. if shorting better to wait for higher price. for long, probably not too late, worth giving a try with tight sl.
As Above, So Below
  • #5,903
  • Apr 16, 2013 11:16am Apr 16, 2013 11:16am
Quoting tashkent
you were just on the wrong side. no big deal. if shorting better to wait for higher price. for long, probably not too late, worth giving a try with tight sl.
Maybe I'm blind, but I don't see these levels as good risk/reward for longs at all. Shorts on the other hand have a GREAT risk/reward here.
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  • #5,904
  • Apr 16, 2013 12:14pm Apr 16, 2013 12:14pm
Quoting Geppy
Maybe I'm blind, but I don't see these levels as good risk/reward for longs at all. Shorts on the other hand have a GREAT risk/reward here.
it can go up or down and this is not the issue. important thing is on which side we are when that happens..
As Above, So Below
  • #5,905
  • Apr 16, 2013 12:23pm Apr 16, 2013 12:23pm
Quoting Geppy
Maybe I'm blind, but I don't see these levels as good risk/reward for longs at all. Shorts on the other hand have a GREAT risk/reward here.
I agree. Trendlines on USD/JPY broken to short side. The pound is the only thing keeping the dragon afloat and that move up appears to be exhausting..
  • #5,906
  • Apr 16, 2013 1:03pm Apr 16, 2013 1:03pm
Quoting derabuf
I agree. Trendlines on USD/JPY broken to short side. The pound is the only thing keeping the dragon afloat and that move up appears to be exhausting..
Agreed. Been holding a couple UJ shorts for a couple hours now (thought my 2 cents worth would help push it down...lol). 1H looks to be rolling over to the short side. Dollar has been knocking support for some time and seems poised to break maybe? GBP looks weak but still much data coming out prior to G20 this week. The yen tested key SR at the 50% yesterday after breaking it due to the BoJ, bounced down and closed below it. It all seems set but....Everything just a hanging now...lol
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Ghost Rider - WWTBMD?
  • #5,907
  • Apr 16, 2013 1:16pm Apr 16, 2013 1:16pm
Interesting that we have been making higher lows pushing closer and closer against the 150.30 - 150.50 area. If that area gets popped I'll be looking to go long. At this point I am just waiting with finger on the trigger for a break up or break down.

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  • #5,908
  • Apr 16, 2013 1:27pm Apr 16, 2013 1:27pm
Quoting derabuf
Interesting that we have been making higher lows pushing closer and closer against the 150.30 - 150.50 area. If that area gets popped I'll be looking to go long. At this point I am just waiting with finger on the trigger for a break up or break down. {image}
it will either break up or down, no question
asian session will show the way.
As Above, So Below
  • #5,909
  • Apr 16, 2013 1:33pm Apr 16, 2013 1:33pm
what if it just sat there looking at you funny waiting for you to fall asleep?

Quoting tashkent
it will either break up or down, no question asian session will show the way.
  • #5,910
  • Apr 16, 2013 1:46pm Apr 16, 2013 1:46pm
Quoting draego
what if it just sat there looking at you funny waiting for you to fall asleep?
there are things like stop order and stop limit
As Above, So Below
  • #5,911
  • Apr 16, 2013 1:50pm Apr 16, 2013 1:50pm
Quoting Geppy
Alright guys, I'm off to get my taxes finalized. I've got some sell stops below so maybe I'll come back and have a position on :-)
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  • #5,912
  • Apr 16, 2013 2:44pm Apr 16, 2013 2:44pm
Hmmm...seems the yen pairs are making a fool of me again...
Ghost Rider - WWTBMD?
  • #5,913
  • Apr 16, 2013 3:06pm Apr 16, 2013 3:06pm
Inverse head and shoulders should provide some fireworks upon break.
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  • #5,914
  • Apr 16, 2013 3:18pm Apr 16, 2013 3:18pm
Quoting msniper
my long term view. waiting for 151.50 to 152 to go short {image}
msniper....nice chart for us to look at. thanks for that....are you floor trading? thanks in advance, buddy (from the oppsite side of the world!!)
  • #5,915
  • Edited 4:23pm Apr 16, 2013 3:23pm | Edited 4:23pm
Quoting Unknownpips
Inverse head and shoulders should provide some fireworks upon break. {image}
If correct, yes it will probably reach double top as a conventional 5 wave move. Bottom of H&S right shoulder and start of the final move would be expected at about 149 ~149.1.

Where's GU going? If it was a wedge triangle for the last year or four, the bottom of that triangle was never "tested". That's now sitting at about 1.564. UJ? Don't know but maybe to finally take out the 100 level.

Then again, this might all be total crap and this may end being a corrective move only.

Most people (myself included) assume that GJ will go to 163 ~164 on this run up from 118. However it still remains quite possible that this is not a 5 wave move, but only a corrective C wave with three main waves - GJ is known for only having 3 wave impulsive C waves. Should channel center down at about 135 give way and 133.5 doesn't hold it up, then GJ could well return to the bottom. That's were the decider will be - 133.5 ~137. And if you like H&S patterns, look no further than the possible one we're in right now, with 153.6 as the top.
  • #5,916
  • Apr 16, 2013 4:16pm Apr 16, 2013 4:16pm
Quoting tashkent
148.332 exactly right NOW. feast is over. i am waiting for a chance to load longs.
posted 23 hours ago.

right NOW it is 150.100. this thing will make at least double top.
As Above, So Below
  • #5,917
  • Apr 16, 2013 4:43pm Apr 16, 2013 4:43pm
Quoting Mpt
If correct, yes it will probably reach double top as a conventional 5 wave move. Bottom of H&S right shoulder and start of the final move would be expected at about 149 ~149.1. Where's GU going? If it was a wedge triangle for the last year or four, the bottom of that triangle was never "tested". That's now sitting at about 1.564. UJ? Don't know but maybe to finally take out the 100 level. Then again, this might all be total crap and this may end being a corrective move only. Most people (myself included) assume that GJ will go to 163 ~164 on this...
nice post Mpt. usually we do not see much posts here that makes sense.

let me tell you my opinion on this.

we had %50 retracement. at this point price is at %50 retracement within that retracement. where price is going? this is a zillion dollar question. therefore nobody knows the answer. however we can anticipate. what is the main trend? uptrend. retracement was sharp, but price picked up itself and reacted at the same pace against the down movement. good news is it is still has the strength.that definitely indicates that the current point is NOT the potential spot to short. higher the price rises, lesser chance of going down. if price falls to 1.4830 area that would mean down fall is highly possible. my guess is that point will become very important.
also all higher time frames look quite positive.
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As Above, So Below
  • #5,918
  • Apr 16, 2013 4:45pm Apr 16, 2013 4:45pm
Quoting tashkent
usually we do not see much posts here that makes sense.
...
Ghost Rider - WWTBMD?
  • #5,919
  • Apr 16, 2013 4:48pm Apr 16, 2013 4:48pm
Quoting albchr
...
Chris,

I also got a kick out of what this guy just posted so I clicked on his user name to see if English may have been his 2nd language and he was being misunderstood.

However, this comes from a United States trader who (from his trade explorer) risks 20% - 50% on some of his live trades... Obviously he trades using WAYYYYY too much leverage and is an inexperienced trader.

We can now disregard his posts as they probably won't help us in our trading

Hope you had a good weekend man.
  • #5,920
  • Apr 16, 2013 4:49pm Apr 16, 2013 4:49pm
Quoting albchr
...
Yeah, this guy is annoying me. Couple more moronic posts and he's out
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