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Geppy's Geppy Thread (GBP/JPY)

  • #6,601
  • May 5, 2013 9:26pm May 5, 2013 9:26pm
Quoting Geppy
{quote} THOSE were the days! ~$25 or so in positive swap per standard... nam Nam NAM!
Right "nam Nam NAM" that's where I got the base of my currently trading for a living, and I love it!
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  • #6,602
  • May 5, 2013 10:39pm May 5, 2013 10:39pm
hey guys, i am going to post here again later and introduce myself, but i think the GBP/JPY is screaming bullish right now and for the upcoming week. i have several long positions on from 154.30 (after closing out previous longs before the weekend), and believe that the pair could fall slightly lower from here but i don't see it going much below 154 before we get another crazy rally this week.

just wanted to share my 2 cents... what do you guys think? do you agree with me?!
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  • #6,603
  • May 5, 2013 10:49pm May 5, 2013 10:49pm
as part of my confirmation towards my bullish thesis (both short-term and long-term), notice that the market has been open for several hours already but the GBP/JPY has not even showed any signs of wanting to close the gap, which was less than 10 pips and should happen very easily and quickly if it were going to happen at all.

in my opinion, if G-J were bearish, this gap would have filled a long time ago already.
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  • #6,604
  • May 6, 2013 12:15am May 6, 2013 12:15am
we may see 153.33 atleast before another up movement been the 50% replacement of de up movement on Friday
We trade to live not live to trade................
  • #6,605
  • May 6, 2013 12:34am May 6, 2013 12:34am
Quoting smash1820
hey guys, i am going to post here again later and introduce myself, but i think the GBP/JPY is screaming bullish right now and for the upcoming week. i have several long positions on from 154.30 (after closing out previous longs before the weekend), and believe that the pair could fall slightly lower from here but i don't see it going much below 154 before we get another crazy rally this week. just wanted to share my 2 cents... what do you guys think? do you agree with me?!
No I don't agree with you, of course we will go higher but you might be stopped out before we do.
For the moment I don't see anything that could give a new high.
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  • #6,606
  • May 6, 2013 12:37am May 6, 2013 12:37am
Quoting KillerWhale
{quote} No I don't agree with you, of course we will go higher but you might be stopped out before we do. For the moment I don't see anything that could give a new high.
Are you kidding? This market is very bullish imo. I am just surprised to hear you say this. I am already up a few pips on my positions and I am expecting more to follow.

Keep in mind that this market doesn't always need news to push it higher.

ALSO: I don't use stops, only take profits.
Please check out my blog at https://from-zero-to-hero . net
  • #6,607
  • May 6, 2013 1:34am May 6, 2013 1:34am
Quoting smash1820
{quote} Are you kidding? This market is very bullish imo. I am just surprised to hear you say this. I am already up a few pips on my positions and I am expecting more to follow. Keep in mind that this market doesn't always need news to push it higher. ALSO: I don't use stops, only take profits.
This move up is probably corrective only. It needs to break the previous high by more than about 10 ~15 pips or so to be considered a bullish continuation.
  • #6,608
  • May 6, 2013 1:40am May 6, 2013 1:40am
Quoting Mpt
{quote} This move up is probably corrective only. It needs to break the previous high by more than about 10 ~15 pips or so to be considered a bullish continuation.
Be patient, my friend. It's coming.

Although just to be safe, I have locked in the majority of my profits here around 154.60 and will wait for a better chance to re-enter.
Please check out my blog at https://from-zero-to-hero . net
  • #6,609
  • May 6, 2013 1:56am May 6, 2013 1:56am
Quoting smash1820
{quote} Be patient, my friend. It's coming. Although just to be safe, I have locked in the majority of my profits here around 154.60 and will wait for a better chance to re-enter.
When you trade GJ, it's advisable to keep a keen eye on both UJ and cable at the same time.
  • #6,610
  • May 6, 2013 2:06am May 6, 2013 2:06am
Quoting Mpt
{quote} When you trade GJ, it's advisable to keep a keen eye on both UJ and cable at the same time.
Why's that? The GBP/JPY is the most volatile of all the pairs, and if you can analyze it correctly, why even bother trading other pairs? I'm banking on G-J right now (with my small account tho, lol) ... looking to sell my final position here around 154.75 and I have not looked at the cable or UJ at all, or any other pair for that matter.
Please check out my blog at https://from-zero-to-hero . net
  • #6,611
  • May 6, 2013 2:22am May 6, 2013 2:22am
Looks very fresh. First target is like 156.30. I'd say it has to go below 152 to be less promising, and even more for a trend break.
  • #6,612
  • May 6, 2013 2:44am May 6, 2013 2:44am
Quoting smash1820
{quote} Why's that? The GBP/JPY is the most volatile of all the pairs, and if you can analyze it correctly, why even bother trading other pairs? I'm banking on G-J right now (with my small account tho, lol) ... looking to sell my final position here around 154.75 and I have not looked at the cable or UJ at all, or any other pair for that matter.
Fair enough
  • #6,613
  • May 6, 2013 6:08am May 6, 2013 6:08am
hey there all.
where is geppy, i miss him.

and about the "beast" is still sleeping isn't it guys ?
  • #6,614
  • May 6, 2013 8:00am May 6, 2013 8:00am
Reaching support. Targeting to enter long that 154.08.
  • #6,615
  • May 6, 2013 8:01am May 6, 2013 8:01am
Afternoon dudes

Had 3 short open positions on Friday of which still remain open. Not looking for large TPs but large enough to have taken them on. Looking at around 152.6 on these shorts before opening any longs again.

Have SLs in place, not expecting much to happen today to be honest
To live a successful life, we must lose our fear of being wrong
  • #6,616
  • May 6, 2013 10:00am May 6, 2013 10:00am
i consider the trend to be intact until proven otherwise. can you show me a support or a supporting trendline on g-u chart that has been broken since the rally started @ 1.48?
i know the long term bias is bearish and at some point the fall will resume but it's just not there yet. which means, 1) the rally is not over OR 2) there is consolidation. either way, i did not see any confirmation of a bearish move.

Quoting KillerWhale
{quote} Scrat, how can you be bullish GU? About 156.00 -156.10 it hits 3 resistances on top of each other. - The top of the channel - The 50% fib from Jan 01 13 - The down sloping internal trend line starting at 09-21-12 {image}
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  • #6,617
  • May 6, 2013 12:02pm May 6, 2013 12:02pm
Bored and drawing, since trading is impossible today.... 30 min chart, uptrend still strong, but do we come out of this tunnel at new highs or testing lower TL before moving up
Attached Image (click to enlarge)
Click to Enlarge Name: gj near term.png Size: 59 KB
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  • #6,618
  • May 6, 2013 12:29pm May 6, 2013 12:29pm
I'm not positive, but I wouldn't be surprised to see new highs the way this is setting up.
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  • #6,619
  • May 6, 2013 2:46pm May 6, 2013 2:46pm
Quoting Scrat
i consider the trend to be intact until proven otherwise. can you show me a support or a supporting trendline on g-u chart that has been broken since the rally started @ 1.48? i know the long term bias is bearish and at some point the fall will resume but it's just not there yet. which means, 1) the rally is not over OR 2) there is consolidation. either way, i did not see any confirmation of a bearish move. {quote}
We're talking about different things, my bearish is very short term, to the bottom of the channel so for a little bit over 200 pip or 250 pips or so.
Longer term you are right as long as the channel holds its bullish.
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  • #6,620
  • May 6, 2013 6:04pm May 6, 2013 6:04pm
you mean like this? yes, i agree . just that this is not really bearish in my view, only a pullback. 2-3 days at most.

Quoting KillerWhale
{quote} We're talking about different things, my bearish is very short term, to the bottom of the channel so for a little bit over 200 pip or 250 pips or so. Longer term you are right as long as the channel holds its bullish.
Attached Image (click to enlarge)
Click to Enlarge Name: g-u-swing-sr.gif Size: 30 KB
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