Geppy's Geppy Thread (GBP/JPY)

what is the acceleration caused by (in your view)? can you post a chart pls

Break out of current resistance trend lines. Maybe it won't break out, but it appears to be on the verge.

would love to see your chart with mark ups to illustrate your point...
as they say, a picture is worth a thousand words...

You asked for it. It's trying hard to break out - but getting no where.

is this a gann ellipse?

Closed above the TL , i began to get tired !

No, just a plain and simple ellipse. If a straight TL doesn't work, as in the present GJ configuration, you'll usually find an ellipse that makes a reasonable fit. They can help in ascertaining where resistance/support may be when nothing else might make sense.

take a look at my chart, maybe it will help you with S/R zones and market structure

Hey gang, nothing new on my end... besides getting used to the new commute that is. Still holding the longs I put on late last week as my view hasn't changed. I still believe we go higher, just gotta remain patient. And I haven't had the time to trade in and out of this range like many of you.

GJ is so far oscillating between 4 hour support and daily resistance, a tight range which has been getting tighter by the day

today's resistance 151.37 and support 150.40 will be the deciding factor on what GJ has in store for us, overall it is not ready as yet to go north but building steam for a north move.

if GJ breaks 150.35 support now and genuinely remains below it taking 150.35 as resistance then and only then it can continue dropping

otherwise if 150.35 support remains intact then we bounce back to 151.35 resistance

keep an eye on daily macd

given the PA seems like there is more downward pressure than building up steam for a ride north
price is constantly being pushed down in a hurry but slow to climb
thoughts?

Hey guys,


It's been a while since I last posted, but I wanted to say a couple of things and ask a question. I have a ton of catching up to do on this thread and I hope to catch up soon, but I've been busy working on my algo and I'm trying to wrap it all up. While that is obviously a difficult thing to do, I feel like I am getting close. I have extremely high expectations for myself, and whether that is a good thing or not I'm not so sure, but I'd really like to finish this project soon. One of my questions is -- are there any MQL4 programmers here on this forum/thread, and if so, might you have any interest in working together on this project?

I know this is a public forum and I do not want to break any rules so I will not advertise anything here, but if you do have MQL4 programming skills and feel like you might be able to add some value, then I would love to hear from you here or via PM. Apologies if this is not the appropriate place to post such a topic.

Finally, I would like to say that the Chicago Blackhawks have just won the Stanley Cup and that is awesome!!!!! YEAH!!!!!
Hahaha, does anyone want to guess where I'm from?!?

Anyway, pretty crazy moves in the markets lately since Bernanke spoke on Wednesday and GBP/JPY was smack in the middle of it all (in the sense that no other currency that I'm aware of moves more). I am not usually into the fundamental stuff, but it seems that Wednesday's announcement created some real volatility around the globe. The funny thing in my opinion though is Bernanke didn't even really say anything new, it's just that the markets overreacted to what he did say. I would say more (literally, I was going to) but it really is as simple as that. I trade stocks as well as JPY and it's just been a crazy time since the announcement, and it seems volatility is back in the markets now (though technically I know it has been since GBP/JPY 140.00 area).

Ok, so, in conclusion, would you please let me know if you are an MQL programmer? Because I would very much like to hear from you if you are.

Significant support is at 149.3/4 and rising.

I see support at 150.20 and 149.70. And if 149.70 gets broken, a lot more downside will follow.

Here is my image, same TF. The 149.70 support level can be found on the 4H TF.

GJ will push back to 151.35 resistance, only a daily candle close above will be considered as a first break followes by a 100 pip pullback to try another push higher

when a trade happens by the book i just love it

now we just need to wait and see what the 151.4 resistance does

I think your 151.35 resistance level will hold. I don't see this going higher than 151.50 in the short-term. If it does, it won't be by much.