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Geppy's Geppy Thread (GBP/JPY)

  • #7,921
  • Jul 23, 2013 12:24pm Jul 23, 2013 12:24pm
I've heard of a head and shoulders.. is there any "hunch back" patterns? >< hah.. it really is show in some very interesting high lows this week though. Symmetry seems to be a thing so far.
Fall down 7 times, Stand up 8.
  • #7,922
  • Edited 3:43pm Jul 23, 2013 3:32pm | Edited 3:43pm
I believe we are at support now @ 152.94 (it's actually resistance now, but soon to be support). I know all signs are still pointing south, but I think we're due for a little bit of a bounce here at least. I'm trying to be patient and disciplined and just hold through this, but it's starting to get on my nerves.

Everything that I'm looking at says we are in oversold territory and since the .94 support is so close to 153, I think we could snap back to that level quickly. But I'm keeping a close eye on it.

PS: I see additional support at 152.90 (to the pip), so in my opinion the buy zone would be from 152.90 to 152.94... let's see if that holds.
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  • #7,923
  • Jul 23, 2013 4:36pm Jul 23, 2013 4:36pm
So, is it normal for GJ to be this friggin' dead??? I am barely seeing a tick go off per minute!
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  • #7,924
  • Jul 23, 2013 4:44pm Jul 23, 2013 4:44pm
Yep, it's waiting for that 7 pm in New York thing...I'll try to interpret the move....you know the rules....once it goes. I'm trying to figure whether a fail on that trade is a reverse signal....or under what conditions it might be a reverse. But waiting 5 hours really pays big time, and for no effort( no need to watch the charts )
  • #7,925
  • Jul 23, 2013 4:57pm Jul 23, 2013 4:57pm
Quoting Gbp/jpy
Yep, it's waiting for that 7 pm in New York thing...I'll try to interpret the move....you know the rules....once it goes. I'm trying to figure whether a fail on that trade is a reverse signal....or under what conditions it might be a reverse. But waiting 5 hours really pays big time, and for no effort( no need to watch the charts )
Thanks for this information and I look forward to your interpretation. I'm trying to make sense of it and don't be surprised if I contact you with some questions... your approach is unlike anything I've heard of before. Definitely abstract and even a little ambiguous at times.

I am going to guess ahead of time that it will be a buy signal. Like I said above, everything seems so oversold here, but who knows. I do have one question for you now though: Do you always wait until 7 PM NY time to get your trade signals? Do you ever trade PA spontaneously, or is it always just about the 7 PM signal? Furthermore, I am going to make a stab at this (pls correct me if I'm wrong)... but my charts reset for the day around 7 PM NY time. I guess this could vary according to your broker, but is that why 7 PM is so important? Because it is the start of a new day?

Ooops. Just thought of another question. Why wait the 5 hours? To get rid of all the noise? And is it 5 hours after 7 PM (NY)?
Please check out my blog at https://from-zero-to-hero . net
  • #7,926
  • Jul 23, 2013 5:14pm Jul 23, 2013 5:14pm
Hey dudes

That was a nice drop, on the 15M the 2nd, 3rd and 4th candle all keeping above the trendline using it as support.

Ideally over the next 24 hour period would like to see break of 153.6 and eventually into 154 upto 154.2.
To live a successful life, we must lose our fear of being wrong
  • #7,927
  • Jul 23, 2013 5:21pm Jul 23, 2013 5:21pm
Quoting EatPIPs
Hey dudes That was a nice drop, on the 15M the 2nd, 3rd and 4th candle all keeping above the trendline using it as support. Ideally over the next 24 hour period would like to see break of 153.6 and eventually into 154 upto 154.2.

I've been bearish since last week, I honestly haven't seen what everyone else is seeing. I just posted about this in the eur/jpy thread.. But if you look at the daily we have somewhere between 10-12 days worth of price rejection in between here and there. So as far as odds go over the last 3 months.. we're teetering on a top. But I could be wrong. I was wrong last night, haha.

PS those aren't NY close times either.. thats my Oanda practice account.. These price rejections are a lot more clear on the NY close candles
Attached Image (click to enlarge)
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Fall down 7 times, Stand up 8.
  • #7,928
  • Jul 23, 2013 5:24pm Jul 23, 2013 5:24pm
Quoting str33t
{quote} I've been bearish since last week, I honestly haven't seen what everyone else is seeing. I just posted about this in the eur/jpy thread.. But if you look at the daily we have somewhere between 10-12 days worth of price rejection in between here and there. So as far as odds go over the last 3 months.. we're teetering on a top. But I could be wrong. I was wrong last night, haha. PS those aren't NY close times either.. thats my Oanda practice account.. These price rejections are a lot more clear on the NY close candles {image}
Heres my daily chart if you are looking at a longer term view. 157.5 before a break or retrace on the long side.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpydaily.png Size: 68 KB
To live a successful life, we must lose our fear of being wrong
  • #7,929
  • Jul 23, 2013 5:30pm Jul 23, 2013 5:30pm
Right, I definitely understand where your coming from there then. I'm not quite that zoomed out, haha.. But I'm just saying in terms of 1 to 2 weeks time frame to break about that 154 barrier is going to take a bit more effort. That huge spike last night was a hell of a ride, but the bears had one even bigger the night before.. The yens just been so damn bi-polar this week.. ><
Fall down 7 times, Stand up 8.
  • #7,930
  • Jul 23, 2013 5:43pm Jul 23, 2013 5:43pm
Obviously theres good fundamentals both ways, the main point I wanted to make was just if your going to trade off 1/4 hour or less time frames on this pair right now. The daily charts really need to be considered because we're toward the top of a weekly mother bar and we've been ranging for 6 weeks or so.
Fall down 7 times, Stand up 8.
  • #7,931
  • Jul 23, 2013 5:56pm Jul 23, 2013 5:56pm
Quoting str33t
Obviously theres good fundamentals both ways, the main point I wanted to make was just if your going to trade off 1/4 hour or less time frames on this pair right now. The daily charts really need to be considered because we're toward the top of a weekly mother bar and we've been ranging for 6 weeks or so.
We are ranging in an uptrend.

Last week my bias was short in the short term targeting into the 149-148s but the channel got broken on the daily and resumed upwards.

The wave is always going to range and with this pair, a big spike of even a "unexpected" move doesn't justify the PA.

I have always had a bull bias for quite some time now but decided to trade against it semi-short term and it didn't work out.

This is trading dude, no one knows exactly what is going to happen, each to their own. But even with yesterdays (GMT) move down, it doesn't mean a thing.

I can see where you are coming from also, and I can also see 148 being hit again, but based on where we are and price movement, I think we are going to make some highs first

The price I got my eyes on is 152.34 as major mid support. As long as we don't pass through here firmly I am long.
To live a successful life, we must lose our fear of being wrong
  • #7,932
  • Edited 6:29pm Jul 23, 2013 6:08pm | Edited 6:29pm
OK I'm on the case....standby one....I'll start interpretating ( that's Texican for analysis of the candles) Long aaayee, Smash 1820....cool I like the input...I work better with more input.....No, I have one of those big black construction trash bags....you know....full of all kinds of techniques....this is the one that always goes 15 pips or so. Lets see what this tuesday does. In general one or two days of the three we trade with this method....goes for 39 pips in the first move. So one could make a trading system just on this 7pm to 7:30 pm New York time trade. Tuesdays ...Wednesdays and Thursdays ...Long aayy....cool
  • #7,933
  • Jul 23, 2013 6:30pm Jul 23, 2013 6:30pm
Close here....searching...searching ~~~~ comparing candles on different time frames....
  • #7,934
  • Jul 23, 2013 6:32pm Jul 23, 2013 6:32pm
I meant to ask....did we want the aud/usd...the usd/jpy or the pair from hail?
  • #7,935
  • Jul 23, 2013 6:36pm Jul 23, 2013 6:36pm
Quoting Gbp/jpy
I meant to ask....did we want the aud/usd...the usd/jpy or the pair from hail?
I would like to know about GBP/JPY. If you want to provide analysis on other pairs too feel free.
Please check out my blog at https://from-zero-to-hero . net
  • #7,936
  • Jul 23, 2013 6:38pm Jul 23, 2013 6:38pm
Super tough market to predict right now.

AU EU GU all at resistance and could rocket higher. UJ stuck between 99.33-100.15 or so. Type of market you want to take 50-100 pips profit in and just wait to see which direction this thing's going to go.

Dollar pairs go up a few 100 more pips and they will get hammered hard, I have no doubt about this.
  • #7,937
  • Jul 23, 2013 6:39pm Jul 23, 2013 6:39pm
I call it the pair from hail for a reason......Ya see, it's like going on a huntin trip in Deepest, Dadgum Darkest AFRICA...
And you're goin along at night( smart )....and although you are armed with Garrett Brand dangerous African game ammo.....Lets say their "Hammerheads"....and ya get friggin ambushed ....yes...friggin bushwhacked by a tiger that swipes your dad-gum azz off ( hurts )....~~~~was I supposed to be doing something?~~~~~oh ...the tiger.....so he knocks your gun out your hands and he grabs the "pistolla" ( Texican )...in his mouth and runs right by ya...so what do you do...??? grab on to his tail and we're off to the races...( yep, like grabbin a savage beast tiger by the dad-gum tail.... back in a minute
  • #7,938
  • Jul 23, 2013 6:41pm Jul 23, 2013 6:41pm
Gonna be a sell....1
  • #7,939
  • Jul 23, 2013 6:43pm Jul 23, 2013 6:43pm
sell G/J.stop 153.07.....If stopped out...wait patiently...take a walk....trade the aud....
  • #7,940
  • Jul 23, 2013 6:58pm Jul 23, 2013 6:58pm
Quoting Gbp/jpy
sell G/J.stop 153.07.....If stopped out...wait patiently...take a walk....trade the aud....
You'll have to remind me how you came up with 153.07. I see the high so far is 153.066 so that is damn good. But I am still long right now and in profit. Arghh I don't know what to do! Should I take the profit and get short? It does look like a decent spot for that. But, we are also sitting right on top of the 152.90 - 152.94 support zone that I've marked...
Please check out my blog at https://from-zero-to-hero . net
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