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Geppy's Geppy Thread (GBP/JPY)

  • #7,741
  • Jul 18, 2013 2:05am Jul 18, 2013 2:05am
3rd time is a charm

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  • #7,742
  • Jul 18, 2013 2:14am Jul 18, 2013 2:14am
Sold at 152.1 for 149x
  • #7,743
  • Jul 18, 2013 2:15am Jul 18, 2013 2:15am
Call me a fool but it could be a nasty bull trap
  • #7,744
  • Jul 18, 2013 3:08am Jul 18, 2013 3:08am
Quoting Pumpndump
Call me a fool but it could be a nasty bull trap
Ya I know. I agree with you (the market has run a lot since GBP last night). That is why I got short a little at 152.10 and closed out of it for an easy 10 pips. I think I'll go back to scalping now for the next few hours until US markets open... at which point, it is POSSIBLE they could reverse the trend.
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  • #7,745
  • Jul 18, 2013 3:17am Jul 18, 2013 3:17am
forexlive article going north on this one. Waiting for the break out that's all.
A 1 pip gain is better than a 1 pip loss.
  • #7,746
  • Jul 18, 2013 3:18am Jul 18, 2013 3:18am
Top bearish triangle (dotted line) has not touched (confirmed- yet). Am looking at this nominally bullish formation playing out to 149x (bottom target still unclear)

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyh1.png Size: 63 KB


touch of 152.25 or break until only 153 confirms bearish triangle. Break above 153 is bullish in its own right.
  • #7,747
  • Jul 18, 2013 3:31am Jul 18, 2013 3:31am
and up it goes
  • #7,748
  • Jul 18, 2013 3:32am Jul 18, 2013 3:32am
Quoting aeternum
forexlive article going north on this one. Waiting for the break out that's all.
Wow. Sick call dude!!!



What article is it that you're referring to? Where did you get this information from?!
Please check out my blog at https://from-zero-to-hero . net
  • #7,749
  • Jul 18, 2013 3:33am Jul 18, 2013 3:33am
Quoting Mpt
and up it goes
Even though I'm short, if it breaks 153.1 I will close my shorts after a pullback and load on the longs.
To live a successful life, we must lose our fear of being wrong
  • #7,750
  • Jul 18, 2013 3:43am Jul 18, 2013 3:43am
Oh I see. Kind of. That was due to GBP Retail Sales. Gosh darnit I need to start paying more attention to these things... But the figures came in at 0.2% exactly as expected.


Aeternum, how did you know it was going to breakout? Was there some foreshadowing in the article or something? Please share!
Please check out my blog at https://from-zero-to-hero . net
  • #7,751
  • Jul 18, 2013 4:10am Jul 18, 2013 4:10am
Quoting EatPIPs
{quote} Even though I'm short, if it breaks 153.1 I will close my shorts after a pullback and load on the longs.
yeah, right now it could still be anything. It faked out the configuration I drew earlier and looks now to have confirmed as a bearish setup - but that could be a fake too. You kind of get the feeling that it may have finished now in a rising wedge - but it's back to wait and see. if it breaks 153 it could reach 154 x and still end up bearish
  • #7,752
  • Jul 18, 2013 4:22am Jul 18, 2013 4:22am
Quoting Mpt
{quote} yeah, right now it could still be anything. It faked out the configuration I drew earlier and looks now to have confirmed as a bearish setup - but that could be a fake too. You kind of get the feeling that it may have finished now in a rising wedge - but it's back to wait and see. if it breaks 153 it could reach 154 x and still end up bearish
And what confuses me is that it, forgetting about the 149 level, it looks like excellent support down at about 148.5 - and that doesn't exactly support a terribly bearish view.
  • #7,753
  • Jul 18, 2013 4:32am Jul 18, 2013 4:32am
Quoting Mpt
{quote} And what confuses me is that it, forgetting about the 149 level, it looks like excellent support down at about 148.5 - and that doesn't exactly support a terribly bearish view.
Im not in front of my charts at the moment but still believe that the down move in incomplete regardless of the fake moves which we have been getting lately (if that's what they are). My view is downwards unless 153.1 gets taken out firmly.
To live a successful life, we must lose our fear of being wrong
  • #7,754
  • Jul 18, 2013 7:05am Jul 18, 2013 7:05am
Sold that 152.60 failure....where we should reverse to longs if broken....It goes in time with the euro trying to fall...for my target in that pair at way below 1.2433.
  • #7,755
  • Jul 18, 2013 8:48am Jul 18, 2013 8:48am
Taking a shot at a very small scalp here. My bias hasn't changed... just looking to make a few pips before buying back
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  • #7,756
  • Jul 18, 2013 8:53am Jul 18, 2013 8:53am
Quoting Geppy
Taking a shot at a very small scalp here. My bias hasn't changed... just looking to make a few pips before buying back {image}
Welcome aboard
To live a successful life, we must lose our fear of being wrong
  • #7,757
  • Jul 18, 2013 9:03am Jul 18, 2013 9:03am
Quoting magicgate
{quote} Hi man, and what levels do you expect these pullbacks? still sitting on a fence and waiting for a move up to start shorting
good time for quick shorts
  • #7,758
  • Jul 18, 2013 9:16am Jul 18, 2013 9:16am
After 153.1, I think there's some resistance around 153.4
  • #7,759
  • Jul 18, 2013 10:30am Jul 18, 2013 10:30am
Quoting EatPIPs
{quote} Welcome aboard
I've never been too great at scalping against the trend, but we'll see...
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  • #7,760
  • Jul 18, 2013 1:36pm Jul 18, 2013 1:36pm
Hey all... the more and more I look at Sterling based pairs, the weaker they're looking to me.

GBP/USD is in an overall downtrend, that's no secret. I've actually been waiting patiently to short that puppy, and the time may be here now. As most of you know, I like to scale into my positions. So I'm taking my first poke at it here at 1.5215

Furthermore, I closed out some GBP/AUD longs last night. It's also looking weak to me up here near 1.6600 The daily chart has been struggling for weeks to get much higher than 1.6800... could we have a mid-term top? I'm not sure, but once again... I'm taking a poke here to the short side.

As I posted earlier, I'm still short GBP/JPY for a scalp. I don't see as much opportunity to the downside here as I do in GBP/USD and GBP/AUD. If Sterling falls, USD/JPY will continue to be resilient and we may have more of a tug-of-war in GBP/JPY than we'd want to see. Until we're out of this range, there's no sense it building a sizable position either way. That being said, I'm still overall bullish on geppy.
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