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Geppy's Geppy Thread (GBP/JPY)

  • #8,321
  • Edited 5:34am Aug 4, 2013 12:10am | Edited 5:34am
With reference to the UJ is bullish argument, two things happened with that pair last week. Firstly it broke slightly below and out of its tightly engineered "continuation" pattern, and therefore may have broken its support. Secondly it failed to break above its resistance area that I highlighted late last week.

This continuation pattern may well now have turned into a reversal, at least in the near term
  • #8,322
  • Aug 4, 2013 1:43am Aug 4, 2013 1:43am
Quoting Fx3422271
{quote}
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_08022013.png Size: 38 KB

This should help you out a bit Sharif. {image}

thanks a lot. this made a lot of things clear for me.
  • #8,323
  • Aug 4, 2013 6:53am Aug 4, 2013 6:53am
Quoting KillerWhale
{quote} Why not good? Are you under water? Any direction is good, as long as you have the same direction.
Beginning of new month, my system shows not to trade it, no clear trend on the Daily, It is whip sawing, no , not under water as I am not trading that pair at the moment.................
Attached Image (click to enlarge)
Click to Enlarge Name: GJ flat.JPG Size: 201 KB
The More You Learn, The More You Earn.....
  • #8,324
  • Aug 4, 2013 7:00am Aug 4, 2013 7:00am
Quoting forexalien
{quote} Agree, the Daily has no direction to it ...... UJ, GU and GJ all want to go up............not good............
Also not good, since all these pairs want to BOTH go Up, UJ and GU can't go up together if there is USD strength or weakness............IMO......
The More You Learn, The More You Earn.....
  • #8,325
  • Aug 4, 2013 7:04am Aug 4, 2013 7:04am
Quoting KillerWhale
{quote} And I'm long UJ so for me it's good.
We are in a GJ thread , and you want to mix it up now.............?

All I did was agree with your comment on GJ being too risky and you turn it into being underwater........?

I know you are Underwater ............You are the Killer Whale.......................LOL
The More You Learn, The More You Earn.....
  • #8,326
  • Aug 4, 2013 7:33am Aug 4, 2013 7:33am
Quoting Mpt
With reference to the UJ is bullish argument, two things happened with that pair last week. Firstly it broke slightly below and out of its tightly engineered "continuation" pattern, and therefore may have broken its support. Secondly it failed to break above its resistance area that I highlighted late last week. This continuation pattern may well now have turned into a reversal, at least in the near term
my view of UJ. but I might be wrong. but I am expecting it to ride down JPY pairs
Attached Image (click to enlarge)
Click to Enlarge Name: uj sown.jpg Size: 219 KB
  • #8,327
  • Aug 4, 2013 11:28am Aug 4, 2013 11:28am
I'm not buying this bearish argument for GBP/JPY. I think GJ could pullback to around 150.20, at which point I'll look to become a buyer again. It's pretty clear to me that a base is in both at 147 and 150. I think shorts that loaded up at 151.30 will be golden for the short-term, but expect a bit of volatility once the market opens. GL!
Please check out my blog at https://from-zero-to-hero . net
  • #8,328
  • Aug 4, 2013 4:08pm Aug 4, 2013 4:08pm
Long now.

Consolidation = Bullish = Resumption of trend
Please check out my blog at https://from-zero-to-hero . net
  • #8,329
  • Aug 4, 2013 5:02pm Aug 4, 2013 5:02pm
Quoting forexalien
{quote} Beginning of new month, my system shows not to trade it, no clear trend on the Daily, It is whip sawing, no , not under water as I am not trading that pair at the moment................. {image}
I think if you traded a big news release for GBP and it was positive it would be safe to jump in. But, I totally agree with FX Alien here that it still hasn't shown us a bullish trend on the D1 chart yet. But, if bullish news came out I would jump into this trade because the 1H and 4H are now bullish. I would ride that news release up until the rally was over or just trail my stop. But, I'd also have to be awake at 4:30 AM and that't not cool. hahaha
  • #8,330
  • Aug 4, 2013 5:28pm Aug 4, 2013 5:28pm
Some weird things going on here on 5M...

But I believe the correct term for it is "SHAKEOUT"
Attached Image
Please check out my blog at https://from-zero-to-hero . net
  • #8,331
  • Aug 4, 2013 6:06pm Aug 4, 2013 6:06pm
Quoting smash1820
Some weird things going on here on 5M... But I believe the correct term for it is "SHAKEOUT" {image}
I never even look at the M5 unless there was a recent news release. Most of what goes on in the M5 is irrelevant in my opinion.
  • #8,332
  • Aug 4, 2013 6:09pm Aug 4, 2013 6:09pm
Quoting Fx3422271
I never even look at the M5 unless there was a recent news release. Most of what goes on in the M5 is irrelevant in my opinion.
Not if you're a daytrader like me! I don't dismiss anything... ever!

Heck, where do you think trends come from? They don't just magically appear out of thin air, do they? My point is that they have to start somewhere...
Please check out my blog at https://from-zero-to-hero . net
  • #8,333
  • Aug 4, 2013 6:13pm Aug 4, 2013 6:13pm
Quoting smash1820
Some weird things going on here on 5M... But I believe the correct term for it is "SHAKEOUT" {image}
greetings,

X/JPY trying to turn bullish,
NZD/JPY had a gap down @ opening because of news.

G/J look strongest amongst X/JPY along with CHF/JPY and USD/JPY comparing their friday performance.

other X/JPY still look like they can break down anytime before Thurdays' BoJ.

have a nice week,
wish you all green.
  • #8,334
  • Aug 4, 2013 6:17pm Aug 4, 2013 6:17pm
You mean the boj's press conference by referring to big news ?
  • #8,335
  • Aug 4, 2013 6:30pm Aug 4, 2013 6:30pm
Quoting netera
You mean the boj's press conference by referring to big news ?
I'm refering to this for Nzd,
it is no biggie:

http://www.zerohedge.com/news/2013-0...s-15-gdp-stake
  • #8,336
  • Aug 4, 2013 6:43pm Aug 4, 2013 6:43pm
Quoting smash1820
Long now. Consolidation = Bullish = Resumption of trend
Glad I got out there at the top
Please check out my blog at https://from-zero-to-hero . net
  • #8,337
  • Aug 4, 2013 8:40pm Aug 4, 2013 8:40pm
i see it as a false break above 153 and last week was trying to retest...but so far its failing and wants to go down....i see it as at least trying to get back into its downtrend channel
  • #8,338
  • Aug 4, 2013 10:29pm Aug 4, 2013 10:29pm
Quoting TomTheTrader
Hello On the other hand im old member of this thread but not as a registered trader but i have finnaly decided to join this fantastic thread. Have learned a lot from you guys. Finnaly got a little bit of time to make my first post here and try to be the part of this great group of traders Actually after the fall to 148,480 cca we had a signal for buy. After "the beast" clime to the 151,243 i will personally look for some solid place to enter the shorts. I would say this is the one place for it . But from the picture we can see that there is...
Actually from the opening of the market we had some movement up , but after the opening i dont trade few hours. Today at 10:30 we have some GBP stuff so will be watching it. As we have move i have used a standard deviation channel and we can nicely seen that the middle line havent been broken up , on the other hand i will use my "eagle eye" to focus how in few ours will close the candles if above or below ,... (for now im for short scenario) With this scenario i will be targeting the area around 148,726. Also the stochastic show on lower Tfs and H1 tf the sell signal so there should be no divergence according to this . Different scenarion is on H4 where there is a little possibility of it

Wish you all green pips
Attached Image (click to enlarge)
Click to Enlarge Name: tp.jpg Size: 121 KB
Many green pips guys
  • #8,339
  • Aug 4, 2013 11:21pm Aug 4, 2013 11:21pm
Obviously, GJ is back below its pivot at 150.8 and UJ looks like it's about to break below its own 98.5 pivot. Now, if only GU contains at 1.528 ..........
  • #8,340
  • Aug 5, 2013 12:12am Aug 5, 2013 12:12am
Question is will UJ hold 98.20, hmmmm. I covered short at 98.50 stupidly

Dumb Dumb.
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