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Geppy's Geppy Thread (GBP/JPY)

  • #6,121
  • Apr 17, 2013 2:26pm Apr 17, 2013 2:26pm
Quoting Geppy
Learning to be patient is much easier.
I'm still holding bro. But had I banked em and reloaded like my "instincts" told me to, I'd be much happier while being patient... LOL
Ghost Rider - WWTBMD?
  • #6,122
  • Apr 17, 2013 2:28pm Apr 17, 2013 2:28pm
Quoting GDR3k
I know! I'm only 27, the stress of FX trading has taken its toll
Oh... is that why I hate looking in the mirror these days....
Ghost Rider - WWTBMD?
  • #6,123
  • Apr 17, 2013 2:30pm Apr 17, 2013 2:30pm
Quoting albchr
Oh... is that why I hate looking in the mirror these days....
Wait until they start to crack when you look at em', then you need to start worrying

  • #6,124
  • Apr 17, 2013 2:31pm Apr 17, 2013 2:31pm
Quoting albchr
I'm still holding bro. But had I banked em and reloaded like my "instincts" told me to, I'd be much happier while being patient... LOL
Well yeah, if I could trade leveraging hindsight, I'd be moving the market by now with my volume.

Everyone would have made the perfect decisions if they could see the future.
check out my blog: forexmademillionaire dot com
  • #6,125
  • Apr 17, 2013 2:31pm Apr 17, 2013 2:31pm
Quoting GDR3k
Wait until they start to crack when you look at em', then you need to start worrying
Oh crap!! I'm worrying...
Ghost Rider - WWTBMD?
  • #6,126
  • Apr 17, 2013 2:32pm Apr 17, 2013 2:32pm
Does anyone see a weekly RSI divergence?!? ...with the possibility of dropping to 146.50???
I see the Weekly 26 period RSI pulling downward. This would be forming the head and shoulders (I never care to talk/trade in regards to patterns but that is what is forming). Price did touch to close the gap for the right shoulder but it did not close...hence my concern. Pull up your weekly and check out the space of time from February to current.

I think the top is getting pretty top heavy for the time being and the back door is wide open. I like to use VWAP to establish long term points of control going back for two months. Going backwards there is very little support protecting bulls. Momentum downwards will take us to 146.50 is my call.

That's how I see it...maybe someone who is much better at Technical Analysis can offer a little insight.

Thanks,

sjc
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  • #6,127
  • Apr 17, 2013 2:33pm Apr 17, 2013 2:33pm
Quoting Geppy
Well yeah, if I could trade leveraging hindsight, I'd be moving the market by now with my volume. Everyone would have made the perfect decisions if they could see the future.
Oh come on now. I'm not saying I can see the future but you have to admit when I posted that, I did say bank and reload. It wasn't hindsight then.

But you gotta admit, this is not a pretty picture right now....
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Ghost Rider - WWTBMD?
  • #6,128
  • Apr 17, 2013 2:36pm Apr 17, 2013 2:36pm
Quoting Coondawg71
Does anyone see a weekly RSI divergence?!? ...with the possibility of dropping to 146.50??? I see the Weekly 26 period RSI pulling downward. This would be forming the head and shoulders (I never care to talk/trade in regards to patterns but that is what is forming). Price did touch to close the gap for the right shoulder but it did not close...hence my concern. Pull up your weekly and check out the space of time from February to current. I think the top is getting pretty top heavy for the time being and the back door is wide open. I like to use...
All I can say Coondawg is you've come up with pretty much the same target I have. So either we're both right...or wrong.
Ghost Rider - WWTBMD?
  • #6,129
  • Apr 17, 2013 2:37pm Apr 17, 2013 2:37pm
Quoting albchr
Oh come on now. I'm not saying I can see the future but you have to admit when I posted that, I did say bank and reload. It wasn't hindsight then. But you gotta admit, this is not a pretty picture right now.... {image}
Nothing wrong with this picture in my opinion. But I do get tired of the "I should have done this or that"... the more people regret the decisions they did or didn't make, the harder it is for you to go forward. Why think about what could have been if you can't change it? It's a very pointless and counter productive exercise.

Maybe I'm tired and cranky, or maybe I'm too jaded by these forums. I think some idiots on here have gotten to me today. I may need a little hiatus.
check out my blog: forexmademillionaire dot com
  • #6,130
  • Apr 17, 2013 2:48pm Apr 17, 2013 2:48pm
Quoting Geppy
Nothing wrong with this picture in my opinion. But I do get tired of the "I should have done this or that"... the more people regret the decisions they did or didn't make, the harder it is for you to go forward. Why think about what could have been if you can't change it? It's a very pointless and counter productive exercise. Maybe I'm tired and cranky, or maybe I'm too jaded by these forums. I think some idiots on here have gotten to me today. I may need a little hiatus.
You're cranky...LOL

But I know what you mean. I'm still holding so obviously I still have faith in the position. If it came off as I "regret" not cashing them in then I perhaps I could have worded it better. I don't regret it, just would have been "happier" if I had and reloaded again. Who wouldn't?

I'll keep quiet now. lol
Ghost Rider - WWTBMD?
  • #6,131
  • Apr 17, 2013 2:50pm Apr 17, 2013 2:50pm
G'day All,

I'm an avid reader of the thread and am enjoying the many varying ideas and theories thrown to moot by one and all.

I've got a question about today's price drop from 151.1x to 148.1x. Is this 'swing', and 'retracement' up to 149.3x, now the latest swing to be used in terms of fibo calculations, or is it still a retracement of the last swing, from 146.4x up to 151.1x?

How far does a price movement against the trend have to go in order to be considered a swing rather than a retracement, if you know what I mean?
  • #6,132
  • Apr 17, 2013 2:56pm Apr 17, 2013 2:56pm
Looks like it's gaining momentum
When the facts change I change my mind, what do you do sir
  • #6,133
  • Apr 17, 2013 3:01pm Apr 17, 2013 3:01pm
I wonder if this run up is just before this Lew dude speaks? I added another short 149.47
Ghost Rider - WWTBMD?
  • #6,134
  • Apr 17, 2013 3:02pm Apr 17, 2013 3:02pm
Quoting albchr
I wonder if this run up is just before this Lew dude speaks? I added another short 149.47
It broke after BoJ said 2% target will be hit by 2015
When the facts change I change my mind, what do you do sir
  • #6,135
  • Apr 17, 2013 3:11pm Apr 17, 2013 3:11pm
Quoting Pip Anon
It broke after BoJ said 2% target will be hit by 2015
The first report I saw about that was 16 minutes ago. This has been rising steady for 3 hours. So I have no idea. Previous reports late last week and early this week have been saying the BoJ (and US) doesn't want run away decline in the yen going into the G20. Again, I have no idea.

My charts tell me we should see at least 147.80 to 146.50ish before any real take off. Time will tell.
Ghost Rider - WWTBMD?
  • #6,136
  • Apr 17, 2013 3:15pm Apr 17, 2013 3:15pm
we going down boys and girls, good luck oh my bad i was talking about eur/jpy http://www.easyfreesmileys.com/smileys/dancing-baby.jpg
  • #6,137
  • Apr 17, 2013 3:17pm Apr 17, 2013 3:17pm
Quoting PoundTrader
we going down boys and girls, good luck oh my bad i was talking about eur/jpy {image}
lol
check out my blog: forexmademillionaire dot com
  • #6,138
  • Apr 17, 2013 3:20pm Apr 17, 2013 3:20pm
Well the yen was rather steady until that blurb, and then apparently Lew said G-20 shouldn't target FX rates for competitive advantage. The yen retraced roughly 50% before continuing it's decline (which correlates to Geppy reaching the 50% Fib). It might continue downward. Yen is a trickster.

I am not sure it will revist anytime soon. Maybe go up to 23%Fib
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When the facts change I change my mind, what do you do sir
  • #6,139
  • Apr 17, 2013 3:24pm Apr 17, 2013 3:24pm
Quoting PoundTrader
we going down boys and girls, good luck oh my bad i was talking about eur/jpy {image}
lol... dance baby dance...

Thanks for the PM PT.
Ghost Rider - WWTBMD?
  • #6,140
  • Apr 17, 2013 3:31pm Apr 17, 2013 3:31pm
Albchr,

Thanks for the feedback. I enjoy reading the thread, thanks for all the posts and insight you guys offer!

Thanks,

sjc
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