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Geppy's Geppy Thread (GBP/JPY)

  • #6,881
  • May 21, 2013 4:37pm May 21, 2013 4:37pm
Quoting Geppy
{quote} Hey dude... I know EatPips replied to this, but it's much different than my experience. I JUST started seeing the same thing one my charts in the last couple weeks for the very first time. It came after I was forced to update my MT4 version (I trade on MBT). My thought is you're not on the most recent version? There are some other differences like being able to close trades with one click and things like that. So it may just be you need to update your MT4.
Hey Geppy dude, I knew there was something wrong, but you just you nailed it!!!

Updating MT4 seemed to do the trick. Actually I'm a bit of an idiot, because I updated MT4 earlier but I installed it to a new folder and didn't update the shortcut so I was actually booting into the old MT4... lol

Thanks Geppy, you da man!
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  • #6,882
  • May 21, 2013 5:24pm May 21, 2013 5:24pm
My MT4 is set on auto-update therefore whenever there is an update it does it itself upon opening daily. It is strange actually as only the other day I found some 'crosses' next to my trades in the terminal (the same sort of cross that you find in the top right hand corner of windows) and only when I recently hovered over it, it showed me a 'one click close' option which is completely new in my MT4. It would be nice to be emailed with the new updates but I guess we just find out as we go...!
To live a successful life, we must lose our fear of being wrong
  • #6,883
  • May 21, 2013 6:18pm May 21, 2013 6:18pm
Quoting smash1820
{quote} Hey Geppy dude, I knew there was something wrong, but you just you nailed it!!! Updating MT4 seemed to do the trick. Actually I'm a bit of an idiot, because I updated MT4 earlier but I installed it to a new folder and didn't update the shortcut so I was actually booting into the old MT4... lol Thanks Geppy, you da man!
Glad that worked, bro. :-)
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  • #6,884
  • May 21, 2013 6:19pm May 21, 2013 6:19pm
Quoting EatPIPs
My MT4 is set on auto-update therefore whenever there is an update it does it itself upon opening daily. It is strange actually as only the other day I found some 'crosses' next to my trades in the terminal (the same sort of cross that you find in the top right hand corner of windows) and only when I recently hovered over it, it showed me a 'one click close' option which is completely new in my MT4. It would be nice to be emailed with the new updates but I guess we just find out as we go...!
Ha, I noticed those immediately after the update. I like that feature a lot, because I tend to open many positions and when the market is moving and I want to close them, it used to be a real pain.

You can now also right click directly on the chart to set limit orders wherever you right click. I'm sure there are more new features, but those are the obvious ones.
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  • #6,885
  • May 21, 2013 7:10pm May 21, 2013 7:10pm
arghhh.... the algorithm that i am working on just closed all of my orders...

that sucks because now i have to start all over again at a worse price. fortunately, i did not take a loss. i am going to respond to the above topic very soon... what a breakout now on the Geppy woooO!
Please check out my blog at https://from-zero-to-hero . net
  • #6,886
  • May 21, 2013 7:24pm May 21, 2013 7:24pm
Quoting smash1820
arghhh.... the algorithm that i am working on just closed all of my orders... that sucks because now i have to start all over again at a worse price. fortunately, i did not take a loss. i am going to respond to the above topic very soon... what a breakout now on the Geppy woooO!
Hahaha, 20-30 pips is now a breakout? Man, we're getting desperate in here

I'll try to post some analysis later tonight.
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  • #6,887
  • May 21, 2013 7:27pm May 21, 2013 7:27pm
Watch out for the 1HR frame, if the price closes above the 200EMA ... that would be a good sign of destination north ...
  • #6,888
  • May 21, 2013 7:38pm May 21, 2013 7:38pm
Haha maybe got a little carried away in my last post but it looks like the GBP/JPY starting to break out, I am targeting somewhere above the 156 range, although I am not quite sure if it will get all the way to 156.60 like someone here said. I will look to add to my position somewhere between 155.25 and 155.35.

As far as the new MT4 update, I really like what I see so far, and although it is minimal I would like to state the following points:

Quoting Geppy
You can now also right click directly on the chart to set limit orders wherever you right click. I'm sure there are more new features, but those are the obvious ones.
- Technically this is not a new feature. You could place limit orders in the old version by right clicking, it just wasn't as easy and clear as it is now... it was in the "Trading" sub-menu before this update.
Attached Image
- This is a great update!! Good job MetaTrader folks. As a programmer myself, I appreciate little upgrades like the displaying of lot size next to each order simply because of the fact that it is not hard to do and it looks so much nicer.

- It seems this update, like Geppy said, is all about the new "one click" interface. It seems there are multiple ways to close an order now, whether clicking on the "X" on the right-hand side of the trading terminal (next to each order), right-clicking on the price level of each order in the chart (where you can modify, place trailing stops, close orders, etc), or just using the new 1-click interface itself (ie: the widget).

- Expanded tabs on the bottom of MT4. I don't remember "Code Base" or "Company" or "Alerts" being there before but I could be wrong. If I am not mistaken about this "Alerts" tab, this could be a VERY VERY interesting new setting that we should all explore (including myself!).

- An expanded Help menu.

Overall, I say a very nice update and I am pleased to know that we are using a good product that continues to be updated... though I agree some sort of notice or e-mail update/notification would have been nice. Perhaps all of this work is for the eventual release of MT5, which should be coming fairly soon now?
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  • #6,889
  • Edited 8:25pm May 21, 2013 7:47pm | Edited 8:25pm
Quoting Geppy
{quote} Hahaha, 20-30 pips is now a breakout? Man, we're getting desperate in here I'll try to post some analysis later tonight.
Haha yeah dude, apologies for my more-than-likely ill-placed vocabulary. I know I need to work on that. I have a tendency to just call it as I see it, and I'm not saying whether that's a good or a bad thing (actually, I don't even know?).

Although I should say, you and me probably couldn't be any more different. You seem like a swing and/or position trader, and I am more of a daytrader by nature... although I certainly am happy catching big moves once in a while.

PS: I may be a little desperate as well, hahaha
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  • #6,890
  • May 21, 2013 8:01pm May 21, 2013 8:01pm
Quoting 50 Fils
Watch out for the 1HR frame, if the price closes above the 200EMA ... that would be a good sign of destination north ...
The price broke the 200EMA on the 1HR frame, now that should work as a support ... I am entering long from here ...
  • #6,891
  • May 21, 2013 8:42pm May 21, 2013 8:42pm
Quoting smash1820
Technically this is not a new feature. You could place limit orders in the old version by right clicking, it just wasn't as easy and clear as it is now... it was in the "Trading" sub-menu before this update.
I thought it was pretty obvious from my post that I was referring to the "new" way of doing it. I've always placed trades by right-clicking. But it wouldn't automatically allow you to do them at the place in which you clicked.
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  • #6,892
  • May 21, 2013 8:52pm May 21, 2013 8:52pm
OK, this chart looks a little odd with all the vertical lines, but I wanted to make a point here.

First, notice we're in an uptrend channel here on the 4h chart. We're very close to the lower support portion of the channel and it appears we may have found a bottom here. I say this for two reasons:

1) This is the third test of the bottom of the ~155.00-156.75 range we've been trapped in since about May 10th.

2) The Williams %R on the 4H has reached oversold territory. You'll notice that the vertical lines align with areas in which we saw this occur in the recent past (within this channel). Furthermore, the first two vertical lines show where the %R went to oversold territory when we were at or near the bottom support of the trend channel.

All this being said, I do believe that the next move will be a move higher and that it will push through the consolidation range for new highs above 156.80. In fact, I'm targeting the upper boundary of the trend channel for my TP which should be in the mid/upper 158s.

I've been holding longs since late last week, and it's been a trade of patience. I'm hoping we can see some movement tonight. That small rally a couple hours ago seemed to be rooted in some Japanese data. Although little is expected from the comments coming at the end of the BOJ meeting tonight, I'm hoping it will pleasantly surprise us with a spark of action and we can start heading higher again. A 175 pip range since the 10th is nothing short of painful for the beast. Unfortunately, I'm not a huge fan of trading ranges like that.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyh4.png Size: 91 KB
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  • #6,893
  • May 21, 2013 9:19pm May 21, 2013 9:19pm
GL with your long Geppy! Have a bitty one too but Daily still could have some issues after Mondays sake out..
Attached Image (click to enlarge)
Click to Enlarge Name: gjd1.PNG Size: 41 KB
  • #6,894
  • May 21, 2013 9:39pm May 21, 2013 9:39pm
Quoting Chillypiper
GL with your long Geppy! Have a bitty one too but Daily still could have some issues after Mondays sake out.. {image}
In my experience, trendline "breaks" like the one you're showing aren't very reliable when the "break" occurs as a result of sideways consolidation rather than a convincing move lower followed by a retest.

We'll see though
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  • #6,895
  • May 21, 2013 9:46pm May 21, 2013 9:46pm
Quoting Geppy
{quote} In my experience, trendline "breaks" like the one you're showing aren't very reliable when the "break" occurs as a result of sideways consolidation rather than a convincing move lower followed by a retest. We'll see though
Fair enough, but after 3+ touches....Well, it caught me eye..
  • #6,896
  • May 22, 2013 3:12am May 22, 2013 3:12am
Morning dudes

Bit of a drop yesterday. Formed a channel within a channel still directing upwards. Today will be a shaky day also but I have my 3 long trades still in play since the 15th collecting quite a decent swap nonetheless.

50 & 200EMA closing in right now so could be a major move some point today or tomorrow (I'm favoring today)...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyh1.png Size: 94 KB
To live a successful life, we must lose our fear of being wrong
  • #6,897
  • May 22, 2013 10:15am May 22, 2013 10:15am
Hey guys. Longs are waiting on GBP/JPY: 155.450 - 155.170 zone is good for buys.
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  • #6,898
  • May 22, 2013 1:14pm May 22, 2013 1:14pm
This pair is so uncertain of what it wants!!
To live a successful life, we must lose our fear of being wrong
  • #6,899
  • May 22, 2013 1:20pm May 22, 2013 1:20pm
Quoting EatPIPs
This pair is so uncertain of what it wants!!
I am just adding longs ! more again @ 155.20
  • #6,900
  • May 22, 2013 1:28pm May 22, 2013 1:28pm
Quoting netera
{quote} I am just adding longs ! more again @ 155.20
Seems as a bad idea !
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