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Geppy's Geppy Thread (GBP/JPY)

  • #7,301
  • Jun 18, 2013 9:36am Jun 18, 2013 9:36am
Quoting almo
151.7x is what I see. What scares me about this, is that most of you already see something similar, which suggests this might go the other way. {image}
My first TP is 150.400 just on the safe side. If it goes above I will add more longs.
  • #7,302
  • Jun 18, 2013 11:07am Jun 18, 2013 11:07am
It's a fool's game trying to find the larger direction for now on this pair. We're clearly in consolidation mode, and until the next leg is decided, the best play is to simply scalp the range. That's what I've been doing.

However, I think it's also best to be playing USD based pairs until at least after tomorrow when FOMC is all out of the woodwork.
check out my blog: forexmademillionaire dot com
  • #7,303
  • Jun 18, 2013 12:13pm Jun 18, 2013 12:13pm
Quoting Geppy
It's a fool's game trying to find the larger direction for now on this pair. We're clearly in consolidation mode, and until the next leg is decided, the best play is to simply scalp the range. That's what I've been doing. However, I think it's also best to be playing USD based pairs until at least after tomorrow when FOMC is all out of the woodwork.
I see what you mean you are right. Closed my long on GBPJPY still earned good profit. Did trade EURUSD pair this morning, earned good profit there too. Done for today. I have been following your posts for a little while now when it comes to GBPJPY, and I can tell you that you are very good at trading this pair. Sometimes when I was not sure when to enter a trade and you post something about it, I would be in profit on GBPJPY. Thanks a lot and looking forward for more posts.
  • #7,304
  • Jun 18, 2013 1:17pm Jun 18, 2013 1:17pm
Quoting Trader2000
{quote} I see what you mean you are right. Closed my long on GBPJPY still earned good profit. Did trade EURUSD pair this morning, earned good profit there too. Done for today. I have been following your posts for a little while now when it comes to GBPJPY, and I can tell you that you are very good at trading this pair. Sometimes when I was not sure when to enter a trade and you post something about it, I would be in profit on GBPJPY. Thanks a lot and looking forward for more posts.
Good stuff, dude. Like I said, I've been scalping the range, but even that is getting smaller and smaller and offering diminishing risk/reward returns. So I probably won't be doing much in GBP/JPY until later this week. At least I hope so... need to get out of this consolidation!
check out my blog: forexmademillionaire dot com
  • #7,305
  • Jun 18, 2013 6:45pm Jun 18, 2013 6:45pm
The blue center line (Pitchfork) is proving a little hard to break

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym30.png Size: 52 KB
  • #7,306
  • Jun 18, 2013 7:01pm Jun 18, 2013 7:01pm
Quoting Geppy
{quote} Good stuff, dude. Like I said, I've been scalping the range, but even that is getting smaller and smaller and offering diminishing risk/reward returns. So I probably won't be doing much in GBP/JPY until later this week. At least I hope so... need to get out of this consolidation!
I agree totally. Geppy has been 70% of my profit last 3 sessions but last 3 scalps has to withstand a little drawn down due to pound selloff, but it just hasn't moved like its accustomed. Usdjpy and eurjpy offered better yen trades I think
When the facts change I change my mind, what do you do sir
  • #7,307
  • Jun 18, 2013 7:58pm Jun 18, 2013 7:58pm
sellin 4 146.60....use entry orders for the tp....buy at 146.60 coming back up
...
when it hits 146.60.....it will look like a lightning bolt
  • #7,308
  • Jun 18, 2013 9:52pm Jun 18, 2013 9:52pm
11:52 new york time....Thinkin bout closing that G/J short?.....quit thinking
  • #7,309
  • Jun 18, 2013 10:56pm Jun 18, 2013 10:56pm
Quoting Gbp/jpy
11:52 new york time....Thinkin bout closing that G/J short?.....quit thinking
Isuggest you re-enter short at 149.01, this pair should get to 147.76 before one can start thinking of exiting shorts for today.
  • #7,310
  • Jun 19, 2013 1:39am Jun 19, 2013 1:39am
Quoting Gbp/jpy
sellin 4 146.60....use entry orders for the tp....buy at 146.60 coming back up ... when it hits 146.60.....it will look like a lightning bolt
If it is unable to make a higher high soon, the expected bounce from 146.6 (or, as I think, 145.9 ish) may well be lacklustre in the extreme. GJ still goes through the appearance and motions of a large H&S and if it doesn't break those resistances above it soon, they'll still be there when the " bounce" comes - and we could see 140.3 fairly quickly. It it can break up soon and take out the resistance(s), the bounce SHOULD be as expected.
  • #7,311
  • Jun 19, 2013 5:13am Jun 19, 2013 5:13am
Quoting pipcenturion
{quote} Isuggest you re-enter short at 149.01, this pair should get to 147.76 before one can start thinking of exiting shorts for today.
Price action looking funny. Exit short (148.42)
  • #7,312
  • Jun 19, 2013 6:34am Jun 19, 2013 6:34am
Exit long again. Time to sell 148.34 in view
  • #7,313
  • Jun 19, 2013 7:03am Jun 19, 2013 7:03am
Quoting pipcenturion
Exit long again. Time to sell 148.34 in view
Short failed! Buy limit at 148.72
  • #7,314
  • Jun 19, 2013 7:34am Jun 19, 2013 7:34am
Quoting pipcenturion
{quote} Short failed! Buy limit at 148.72
just wonder. are you going to short again if your buy fail?
i hope that u pass this time with flying colors
  • #7,315
  • Jun 19, 2013 7:47am Jun 19, 2013 7:47am
short 148.98 TP1 148.69 TP2 148.25
Happy trading!
  • #7,316
  • Jun 19, 2013 9:43am Jun 19, 2013 9:43am
Quoting pipcenturion
short 148.98 TP1 148.69 TP2 148.25 Happy trading!
Add a third TP 147.82
Happy trading!
  • #7,317
  • Jun 19, 2013 9:49am Jun 19, 2013 9:49am
Quoting Davit
{quote} I suggest not to trade difficult pair like this until you have few years of experience.This is very volatile at times erratic pair that can move over 100pips very fast. I have been trading for 2yrs and I mostly avoid it for reasons of unpredictability. Regards

That's why God created Demo accounts
  • #7,318
  • Jun 19, 2013 2:22pm Jun 19, 2013 2:22pm
Quoting EatPIPs
Hey dudes Not gonna be in front of my computer today but took a small long last night upon market open TP 150 region {image}
Hey dudes

Sunday nights long hit 150 TP after 2 days of crap PA. I'm all in long now. Not in front of my charts but will post charts tomorrow GMT.
To live a successful life, we must lose our fear of being wrong
  • #7,319
  • Jun 19, 2013 6:08pm Jun 19, 2013 6:08pm
So now we get one day to set our risk-on position..
..
it's a re-set in asia and europe...then square business once new york starts their engines tomorrow. Risk on means upwards for theG/J.
  • #7,320
  • Jun 19, 2013 6:26pm Jun 19, 2013 6:26pm
Quoting Gbp/jpy
So now we get one day to set our risk-on position.. .. it's a re-set in asia and europe...then square business once new york starts their engines tomorrow. Risk on means upwards for theG/J.
Quite possible. I am actually looking at the daily, and looks a bit bullish at this point. The beast hasn't failed me thus far.
When the facts change I change my mind, what do you do sir
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