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Geppy's Geppy Thread (GBP/JPY)

  • #6,801
  • May 16, 2013 6:08pm May 16, 2013 6:08pm
just took a short.. lets hope it runs..
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Be hopeful in a winning position, and fearful in a losing position.
  • #6,802
  • Edited 10:25pm May 16, 2013 6:31pm | Edited 10:25pm
Quoting Rag2RichesFX
{quote} seems like too much for a friday during a rangebound week, but you never know..
Yeah, realistically I also see it continuing sideways for many hours, maybe moving in the range between 156.7 and 155 before a possible final peak to the 157.8 ~158.5 area
  • #6,803
  • May 17, 2013 12:51am May 17, 2013 12:51am
Morning dudes

For me I'm still long. It's been in and out of pips for the last couple of days but my bias is still to reach 158 before any serious short consideration. Reading from the 1HR and 4HR the 50EMA has been holding up quite nicely and the 200 only tested a few times.

I'm sure I could make some pips scalping short but I'm leaving it open on the long as looking at the overall picture here
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To live a successful life, we must lose our fear of being wrong
  • #6,804
  • May 17, 2013 1:00am May 17, 2013 1:00am
Quoting EatPIPs
Morning dudes For me I'm still long. It's been in and out of pips for the last couple of days but my bias is still to reach 158 before any serious short consideration. Reading from the 1HR and 4HR the 50EMA has been holding up quite nicely and the 200 only tested a few times. I'm sure I could make some pips scalping short but I'm leaving it open on the long as looking at the overall picture here {image}
the resistance 156.60 its strong.
i think it will touch 155.50 (or maybe below) again before 158.

just in my opinion.


let see.
where she will go..
  • #6,805
  • May 17, 2013 7:04am May 17, 2013 7:04am
Hey dudes

That was an ideal close for me on the 1HR showing a good sign of a new high to progress
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To live a successful life, we must lose our fear of being wrong
  • #6,806
  • May 17, 2013 7:34am May 17, 2013 7:34am
Quoting EatPIPs
Hey dudes That was an ideal close for me on the 1HR showing a good sign of a new high to progress {image}
You are the spirit of the thread now
  • #6,807
  • May 17, 2013 7:40am May 17, 2013 7:40am
short geppy from 156.56... betting on that reversal next week... or month
Be hopeful in a winning position, and fearful in a losing position.
  • #6,808
  • May 17, 2013 7:57am May 17, 2013 7:57am
Closed all my longs between 156.40 and 156.60

I still think we'll see higher prices and I'm slowly starting to buy back my position (156.40 first long), however, I'm not so sure on the current ROI for trading GBP/JPY as opposed to GBP/USD, EUR/USD, etc.

The USD is showing serious signs of strength and it's causing a sort of tug-of-war on GBP/JPY caught between USD/JPY and GBP/USD.

I started building longs in USD/JPY in the low 102s and plan to continue adding to that position eventually targeting the 112 area. I'll definitely be trading GBP/JPY still, but until we get out of this consolidation range, I can't justify putting most of my margin in it like I usually do.
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  • #6,809
  • May 17, 2013 8:14am May 17, 2013 8:14am
Quoting netera
{quote} You are the spirit of the thread now
Ha just posting my bit on here dude and sharing my view
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  • #6,810
  • May 17, 2013 8:16am May 17, 2013 8:16am
Quoting Geppy
Closed all my longs between 156.40 and 156.60 I still think we'll see higher prices and I'm slowly starting to buy back my position (156.40 first long), however, I'm not so sure on the current ROI for trading GBP/JPY as opposed to GBP/USD, EUR/USD, etc. The USD is showing serious signs of strength and it's causing a sort of tug-of-war on GBP/JPY caught between USD/JPY and GBP/USD. I started building longs in USD/JPY in the low 102s and plan to continue adding to that position eventually targeting the 112 area. I'll definitely be trading GBP/JPY...
Good luck dude

I'm sticking strictly to GJ personally as I have been focused only on this pair for a while and have my targets. A touch into the 157s would be nice soon and a close above 156.8
To live a successful life, we must lose our fear of being wrong
  • #6,811
  • May 17, 2013 8:22am May 17, 2013 8:22am
gbp/jpy intraday analysis sell@ 156.50, sl@ 157.50, tp@ 155.40, estimated time = less than 24 hours
a trailing stop is suggested to use.

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  • #6,812
  • May 17, 2013 8:44am May 17, 2013 8:44am
Quoting EatPIPs
{quote} Good luck dude I'm sticking strictly to GJ personally as I have been focused only on this pair for a while and have my targets. A touch into the 157s would be nice soon and a close above 156.8
I agree that'd be nice, but it's not coming today unfortunately.

In other news, I missed my Sterling short by literally a tenth of a pip at 1.5215

Gotta love that!
check out my blog: forexmademillionaire dot com
  • #6,813
  • May 17, 2013 9:29am May 17, 2013 9:29am
Quoting Geppy
{quote} I agree that'd be nice, but it's not coming today unfortunately. In other news, I missed my Sterling short by literally a tenth of a pip at 1.5215 Gotta love that!
Positive SWAP on my trades so I have no problems with leaving them open.

Tenth of a pip?! DUDE!!!
To live a successful life, we must lose our fear of being wrong
  • #6,814
  • May 17, 2013 10:33am May 17, 2013 10:33am
4hr
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Be hopeful in a winning position, and fearful in a losing position.
  • #6,815
  • May 17, 2013 11:37am May 17, 2013 11:37am
Quoting EatPIPs
{quote} Positive SWAP on my trades so I have no problems with leaving them open. Tenth of a pip?! DUDE!!!
Yeah, that sucked!

I've got most of my GBP/JPY back on though, and all now in profit... holding over the weekend. USD/JPY is looking impressive into the close. Right now, it's pushing RIGHT up into the 200ema on the monthly (800ema on weekly).

The next target is the 61.68% fibo from the monthly chart at ~105.60 and then the 76.4% at ~112.70... I'm hoping to hold for the latter
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  • #6,816
  • May 17, 2013 12:20pm May 17, 2013 12:20pm
Quoting Geppy
{quote} Yeah, that sucked! I've got most of my GBP/JPY back on though, and all now in profit... holding over the weekend. USD/JPY is looking impressive into the close. Right now, it's pushing RIGHT up into the 200ema on the monthly (800ema on weekly). The next target is the 61.68% fibo from the monthly chart at ~105.60 and then the 76.4% at ~112.70... I'm hoping to hold for the latter
Yeah good luck dude! I have been reviewing the UJ just for viewing purposes and it looks promising for the long run!

I'm holding onto my longs on GJ throughout the weekend first stop 158

Have a good one dude
To live a successful life, we must lose our fear of being wrong
  • #6,817
  • May 17, 2013 12:39pm May 17, 2013 12:39pm
Also holding several positions gj and uj over the weekend.
(and of course my sell positions in usd/inr which pay with 7.25% interest for all my drinks and snacks during the week and weekend with the swap.)

GJ average 156.00
UJ average 102.80
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  • #6,818
  • May 17, 2013 1:14pm May 17, 2013 1:14pm
more shorts..
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Be hopeful in a winning position, and fearful in a losing position.
  • #6,819
  • May 17, 2013 2:18pm May 17, 2013 2:18pm
Consider this (in general when you try to figure out if you want to hold a position over the weekend):
Would you buy or sell this position when it opens on Sunday or would you wait till it's more clear where it wants to go?

Let that be your guide in holding or closing weekend positions!
New voice message: Why are you calling me? If I need you, I'll call you!
  • #6,820
  • May 17, 2013 2:27pm May 17, 2013 2:27pm
nice thread... Geppy u the man bro!
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