Geppy's Geppy Thread (GBP/JPY)

Has the squeeze started yet?

Or are all of these moves just the BoJ going crazy with these TV advertisements?

That drop an hour or so ago was UJ falling below a big support TL. It's come back to test it and it sits right on it now .. to within a pip.

Just staying patient, bro...

Bears needed that push down.. holding that hi tl... should be a good night for shorts on the Asian market

I feel better already just knowing that you are on my side.

lol, you shouldn't... I get it wrong plenty of time just like everyone else too

Well, no one said we got it wrong just yet (plus, a lot of that depends on your time horizon). I still think we are going higher from here, but currently the 1H chart is proving to be some resistance. Clearly, a break above 153.10 as EatPips has been saying this whole time would be very bullish... but we are not there yet.

I closed out of my initial long for a loss (because I don't like to be wrong by more than ~10-20 pips or so) and I was thinking about why I have to take so many losses... and other than the fact that I'm terrible at taking profits when I have them (which is seriously my biggest problem and kind of ironic too if you think about it)... I think the other problem is that I over leverage myself on each trade and don't give GJ enough breathing room as we like to put it. And so if GJ moves something like 10-20 pips against me and then reverses and does exactly what I expect, my positions automatically get liquidated even though my analysis was pretty much correct.

I've just changed my layout to reflect a more "short-term" approach, and I'm thinking this will help with my problem of not taking profits when I have them. And that could potentially be the difference in my trading... as it would not only boost my profits but also reduce my losses. I know you guys are thinking well duh... that is common sense... but I feel like there might have been something instinctive or impulsive with my trading layout that was messing me up... like it was causing me to focus on variables that may or may not be relevant, instead of just the ones that are relevant. Do you guys know what I'm saying? I've heard that experienced traders try to simplify their approach to trading and I've found that over the years I've been trading so far, that is exactly what I have done.

I am a day trader after all, so I don't know why I've been bothering with things like Daily charts and beyond.

If yesterday house saes in the U.S. Was positive then also gbpjpy would have reached different levels...so it is compulsory to talk about fondamentals.".

There might possibly be a bounce at about 152.4 which could launch it to 154x


might, possibly, maybe .... that's the bullish view

Just waiting for 154.2 to crack dude before adding some more longs on the pullbacks after that

Nice green candle!! Yesss!

That was what I was waiting for!

Now I am long from 152.8 and I expect to touch 154 today...then I will close and wait for the Chinese data tonight...

Also usdjpy is going up...

I wonder why this morning someone is selling yens?!? I was sure that until NY opening it should be everything flat! What is happening right now?

oh my.. I was only 180 degrees off.. Lol ><

I didn't say I'd gotten it wrong either...

Not a gbp/jpy trader, so I've shorted this baby based on a strange gut feeling lol.

seems logical

Hang in there man! Like Geppy said, we have all made these mistakes plenty of times. Some guy on here has a signature that says "Things are hard before they are easy" and I think that applies perfectly. I believe the key is to never give up and never stop learning!

I was fortunate enough to wake up to some nice green pips as well... It almost makes me wonder if I should stop day trading and do more swinging. It's a lot easier and less time consuming.

Mpt, I love your bullish view ... maybe

Hi Geppy,

I've got a perhaps really noobish question to ask lol, but does gbp/jpy have a stronger co-relation to gbp/usd or usd/jpy?

I get the feeling both cable and usd/jpy seems "high-ish" (I might be wrong of course)... so if cable takes a turn south, and usd/jpy gets a fierce rejection from the 100 level, won't we see a really strong move down for this pair?

My thoughts.

Just my stupid opinion... but it seems like we're carving out a base above 153.

Hmmm.....

I am planning to close my gu long at 1.543 and am hoping that slows this baby down then. Cheers