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Geppy's Geppy Thread (GBP/JPY)

  • #7,421
  • Jun 25, 2013 4:46pm Jun 25, 2013 4:46pm
Quoting smash1820
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.
I completely disagree. But hey, that's why we trade
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  • #7,422
  • Jun 25, 2013 5:02pm Jun 25, 2013 5:02pm
Quoting Geppy
{quote} I completely disagree. But hey, that's why we trade
Don't you think we will test 149.50is before going up ?
  • #7,423
  • Jun 25, 2013 7:59pm Jun 25, 2013 7:59pm
Quoting netera
{quote} Don't you think we will test 149.50is before going up ?
What, for a fourth time within this consolidation range? lol

If you didn't buy the first three times, I'm not sure what you were waiting for...
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  • #7,424
  • Jun 25, 2013 8:10pm Jun 25, 2013 8:10pm
Quoting Geppy
{quote} What, for a fourth time within this consolidation range? lol If you didn't buy the first three times, I'm not sure what you were waiting for...
I have my TP at 152.00, what do you think should I put it higher or? Your opinion?
  • #7,425
  • Jun 25, 2013 8:30pm Jun 25, 2013 8:30pm
Quoting Trader2000
{quote} I have my TP at 152.00, what do you think should I put it higher or? Your opinion?
I don't advise people on their own trade plans.
check out my blog: forexmademillionaire dot com
  • #7,426
  • Jun 25, 2013 8:36pm Jun 25, 2013 8:36pm
Quoting Geppy
{quote} I don't advise people on their own trade plans.
Ok, what do you think will GBPJPY go higher then 152.00 or no just an opinion?
  • #7,427
  • Jun 25, 2013 8:47pm Jun 25, 2013 8:47pm
Quoting Trader2000
{quote} Ok, what do you think will GBPJPY go higher then 152.00 or no just an opinion?
cute.

yes, at some time in the future I think GBP/JPY will go higher than 152.00.

I also think that, at some time in the future GBP/JPY will go below 140.00.
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  • #7,428
  • Jun 25, 2013 9:05pm Jun 25, 2013 9:05pm
Quoting Geppy
{quote} cute. yes, at some time in the future I think GBP/JPY will go higher than 152.00. I also think that, at some time in the future GBP/JPY will go below 140.00.
Hehe ok thanks I see what you mean. I think it will reach 152. 00 first then will possibly go back down and eventually reach 140.00. Just an opinion thanks.
  • #7,429
  • Jun 25, 2013 9:26pm Jun 25, 2013 9:26pm
Sorry, I should have chimed in yesterday....sorry
EUR/JPY....going to 124.xx....probably 124.47. right now....10 25 pm New York time one can see the elliott waves on the three minute chart....the deal is 128.47 is the resistance......The GBP/JPY......sorta the same, playing my favorite....not just that old euro-yen.dontcha know....
  • #7,430
  • Jun 25, 2013 9:28pm Jun 25, 2013 9:28pm
Quoting Trader2000
{quote} Hehe ok thanks I see what you mean. I think it will reach 152. 00 first then will possibly go back down and eventually reach 140.00. Just an opinion thanks.
not at all what I meant, but good luck with your plan.
check out my blog: forexmademillionaire dot com
  • #7,431
  • Jun 25, 2013 9:47pm Jun 25, 2013 9:47pm
today's support is 150.45 and yes i agree with geppy `we might go higher to 154 area IF 150.45 support holds ground here else we are bacj to ping pong as usual
  • #7,432
  • Jun 25, 2013 10:22pm Jun 25, 2013 10:22pm
Currently involved with this trade

Attached Image (click to enlarge)
Click to Enlarge Name: GbpJpy 15m.gif Size: 61 KB




Enjoy, have fun, make a great day, do your Due diligence, trade your plan, and may we all make bank
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #7,433
  • Jun 25, 2013 10:33pm Jun 25, 2013 10:33pm
Quoting CNTrader
Currently involved with this trade {image} Enjoy, have fun, make a great day, do your Due diligence, trade your plan, and may we all make bank

Target 1 attained

Attached Image (click to enlarge)
Click to Enlarge Name: GbpJpy 15m.gif Size: 46 KB




Enjoy, have fun, make a great day, do your Due diligence, trade your plan, and may we all make bank
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #7,434
  • Jun 25, 2013 11:06pm Jun 25, 2013 11:06pm
Quoting CNTrader
{quote} Target 1 attained {image} Enjoy, have fun, make a great day, do your Due diligence, trade your plan, and may we all make bank
Target 2 attained

Attached Image (click to enlarge)
Click to Enlarge Name: GbpJpy 15m.gif Size: 50 KB



Enjoy, have fun, make a great day, do your Due diligence, trade your plan, and may we all make bank
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #7,435
  • Jun 25, 2013 11:22pm Jun 25, 2013 11:22pm
This thread is so addicting! I still have lots and lots of catching up to do but I thought I'd post my thoughts...


When I posted last time, I said "I don't see this going higher than 151.50 in the short-term." I should have emphasized that the keyword was short-term. It looks like the 151.35 resistance did hold, but now that is in the past, and it seems that GBP/JPY is going to make at least one more test of this level. I expect that it will break through it, then sell off again, and then climb higher in a continuation of the bullish trend. It is easy for me to make these predictions, but I am nowhere near as good at trading them (because I tend to get emotional and make stupid mistakes) ... all the more reason why I want to finish my algorithm (and I'd still love to hear from all MQL programmers, btw).


So, in conclusion, it seems we are at a potential major inflection point here and it is possible for both bears AND bulls to make money, the only difference depends on what your time frame is. If you're willing to hold through a lot of sh*t, then of course we are going to go higher.

Also, I don't really advise people either, but I have nothing against it, so as far as Trader2000's post, I think 152.00 is a good target although maybe a little ambitious. Be prepared to take profits at or around 151.50 if we struggle to break through the 151.35 level. There is no doubt JPY is going higher in the long-run, but there may be a significant pullback from current levels before that happens. Although I do not think we will reach 149.xx as one user stated.
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  • #7,436
  • Jun 25, 2013 11:38pm Jun 25, 2013 11:38pm
Quoting smash1820
This thread is so addicting! I still have lots and lots of catching up to do but I thought I'd post my thoughts... When I posted last time, I said "I don't see this going higher than 151.50 in the short-term." I should have emphasized that the keyword was short-term. It looks like the 151.35 resistance did hold, but now that is in the past, and it seems that GBP/JPY is going to make at least one more test of this level. I expect that it will break through it, then sell off again, and then climb higher in a continuation of the bullish trend. It...
I agree with you. Thank you for pointing it out I moved my TP from 152.00 to 151.35 actually just to be on the safe side. Either way I will still be happy with the profit at the 151.35. I will attach the chart just to show it what I see what may happen, if of course it breaks 151.35 and 151.50.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1.png Size: 56 KB
  • #7,437
  • Jun 25, 2013 11:39pm Jun 25, 2013 11:39pm
Quoting Geppy
{quote} not at all what I meant, but good luck with your plan.
Geppy, you don't have to be so cruel
Please check out my blog at https://from-zero-to-hero . net
  • #7,438
  • Jun 26, 2013 12:09am Jun 26, 2013 12:09am
Quoting Trader2000
I agree with you. Thank you for pointing it out I moved my TP from 152.00 to 151.35 actually just to be on the safe side. Either way I will still be happy with the profit at the 151.35. I will attach the chart just to show it what I see what may happen, if of course it breaks 151.35 and 151.50. {image}
Good luck Trader2000 with your trade. Your name reminds me of the software I use at work, TC2000. Haha.



Also, I'm not sure how much this matters, but you may have drawn the trend line wrong. When drawing a downtrend line on my charts, I ONLY use swing highs, and when drawing an uptrend line on my charts, I ONLY use swing lows. Therefore, I would change your trendline to use the 151.449 high as your closing point, as shown in the pic below. I think your starting point is good, but the closing point could be better. I personally like to see long wicks when drawing a trendline.


Like I said, I'm not sure how much this matters, but then again, trading is all about precision... so you never know.

PS: Is anyone else having problems with spacing on your posts? Every new paragraph causes a change in the spacing... very annoying.
Attached Image (click to enlarge)
Click to Enlarge Name: 1H.JPG Size: 48 KB
Please check out my blog at https://from-zero-to-hero . net
  • #7,439
  • Jun 26, 2013 12:43am Jun 26, 2013 12:43am
Quoting Gbp/jpy
Sorry, I should have chimed in yesterday....sorry EUR/JPY....going to 124.xx....probably 124.47. right now....10 25 pm New York time one can see the elliott waves on the three minute chart....the deal is 128.47 is the resistance......The GBP/JPY......sorta the same, playing my favorite....not just that old euro-yen.dontcha know....
Sorry guys, I am going crazy tonight with my posts, but I would very much like to know if you use the ATR in your analysis of elliot waves?!? If so, what do you find is a good multiple for the ATR? 2x or 3x? I am doing some testing with a multiple of 3x ATR and it seems to be going well, but I have a lot of confirmation still to do. If you are interested in discussing this, please PM me.
Please check out my blog at https://from-zero-to-hero . net
  • #7,440
  • Jun 26, 2013 2:56am Jun 26, 2013 2:56am
And this weeks consolidation was brought to you by the letters C, R, A and P.
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