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Geppy's Geppy Thread (GBP/JPY)

  • #8,461
  • Aug 15, 2013 8:19pm Aug 15, 2013 8:19pm
GJ will definitely get crushed soon. Especially now that GU is all the way up here... still room for GU to go up higher, but UJ is about to get attacked hardcore in coming days iMO. GJ will finally feel some pain. It's had it easy with GU skyrocketing every day lately. That's going to change soon. Especially during trading hours like these where most the action is in the yen pairs and the dollar pairs don't move as much. Expect some pain to be felt soon.


I still prefer to just play UJ when shorting. It's really annoying to short GJ knowing UJ is going to go down, and then seeing GU shoot up and lose money on GJ short. Just happened to me recently and I wished I had just had more UJ shorts.
  • #8,462
  • Aug 15, 2013 8:34pm Aug 15, 2013 8:34pm
ck87 id be careful stating that the UJ uptrend is over...sorry i dont see that yet and could be building cause to go higher yet

warmest regards
  • #8,463
  • Aug 15, 2013 9:00pm Aug 15, 2013 9:00pm
Quoting ninner
ck87 id be careful stating that the UJ uptrend is over...sorry i dont see that yet and could be building cause to go higher yet warmest regards

I think UJ will go to 110-120 over the next years. But right now there's a short term downtrend.
  • #8,464
  • Aug 15, 2013 10:44pm Aug 15, 2013 10:44pm
Quoting ninner
hard to know at this point...i thought it may be heading down too but im not so sure anymore....im currently long from the 150 area..until it breaks this consolidation we wont really know unfortunately...best if you arent in all ready is to wait for confirmation.
I would close the long once we make a new high above 153.22 that's my advice because based on Elliott waves we will head back to 149 and may be lower soon

today is the last bullish day
  • #8,465
  • Aug 15, 2013 10:45pm Aug 15, 2013 10:45pm
sorry man i dont scalp..i play the big trends and keep it simple that is how the big whales make money in this business...right now its just in a consolidation as with the "the big monster"

warmest regards to ya mate
  • #8,466
  • Aug 15, 2013 10:48pm Aug 15, 2013 10:48pm
Quoting msniper
{quote} I would close the long once we make a new high above 153.22 that's my advice because based on Elliott waves we will head back to 149 and may be lower soon today is the last bullish day

thanks for the advice msniper..not saying your wrong...hard to know at this point. but its looking more bullish ..but i could be wrong we will see its looking more and more it wants to spike the 156.741 high...keep your posts coming ..i llike em...you do a good job in your analysis...

warmest regards,

travis
  • #8,467
  • Aug 15, 2013 10:52pm Aug 15, 2013 10:52pm
Hey all,

Haven't been here all week, so I got a lot of catching up to do. I couldn't help but share... just loaded up on some binaries that I bought for $9 and I stupidly sold for $23... not a lot of contracts at all, and I made over 100% on them, but I'm still mad because it went up to $37.50 and my exit sucked! And if 152.80 breaks by 2 AM CST, the options will settle for $100!!! ugh I hope that doesn't happen now that I sold them lol

With that said, I've been bullish on G/J all week. I had no doubts that 147 was going to hold and now that it has, 163 is next! And then 251!
Please check out my blog at https://from-zero-to-hero . net
  • #8,468
  • Aug 15, 2013 10:54pm Aug 15, 2013 10:54pm
wow that is a pretty bullish target...do you mind sharing your analysis on how you get that.???

warmest regards,

travis
  • #8,469
  • Aug 15, 2013 10:58pm Aug 15, 2013 10:58pm
Quoting ninner
sorry man i dont scalp..i play the big trends and keep it simple that is how the big whales make money in this business...right now its just in a consolidation as with the "the big monster" warmest regards to ya mate

Respect you for that. That is the type of trading style I hope to turn to eventually. For now I watch a lot and trade 2 much. But I do have a good grasp on UJ usually, and right now we're in bear mode IMO.

Perhaps we will be sideways until next week. Still expecting to see 95 minimum get hit before this correction is over. Should give you good opportunities to load up at lower prices on the longer term trend, so that's good 4 you
  • #8,470
  • Aug 15, 2013 11:06pm Aug 15, 2013 11:06pm
Quoting ninner
wow that is a pretty bullish target...do you mind sharing your analysis on how you get that.??? warmest regards, travis
My analysis would take far too long to explain. Believe me, I've tried. I hope to share it with you all one day soon though. Until then, please understand that I continue to refine it every single day.

But to sum it up... in order to understand the BIG picture, you have to use BIG time frames. And the biggest TF there is in Metatrader is the Monthly.

The monthly chart has been bullish since 140.00 when Japanese PM Abe made that "QE" announcement that sent us flying 1000 pips overnight. Even the correction down to 147 and test of that level could not change that, just as I expected. I expect 147 to hold because of how the smaller time frames were holding up relative to the larger time frames. It's really about understanding how the charts interact with each other and also understanding that EVERYTHING is relative... and I do mean everything.

Specifically, I mean all time frames from the 1 Minute to the Monthly...
Please check out my blog at https://from-zero-to-hero . net
  • #8,471
  • Aug 15, 2013 11:08pm Aug 15, 2013 11:08pm
ck, yes that would be nice if it did that time will tell..

cheers
  • #8,472
  • Aug 15, 2013 11:13pm Aug 15, 2013 11:13pm
short limits set
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.daily.png Size: 35 KB
In trading, you have to be defensive and aggressive at the same time
  • #8,473
  • Aug 15, 2013 11:16pm Aug 15, 2013 11:16pm
Quoting Davit
short limits set {image}
hehe I have the same order on 153.25 153.45 153.65 153.85 because I cannot make sure when the bear attack might happened so better build position slowly
  • #8,474
  • Aug 15, 2013 11:17pm Aug 15, 2013 11:17pm
Quoting ninner
{quote} thanks for the advice msniper..not saying your wrong...hard to know at this point. but its looking more bullish ..but i could be wrong we will see its looking more and more it wants to spike the 156.741 high...keep your posts coming ..i llike em...you do a good job in your analysis... warmest regards, travis
yes I might be bullish in GJ but not now !

we need one final test on 147~148 area and if we break then we go 140 if we bounce then we are going 162
  • #8,475
  • Aug 15, 2013 11:17pm Aug 15, 2013 11:17pm
Quoting smash1820
{quote} My analysis would take far too long to explain. Believe me, I've tried. I hope to share it with you all one day soon though. Until then, please understand that I continue to refine it every single day. But to sum it up... in order to understand the BIG picture, you have to use BIG time frames. And the biggest TF there is in Metatrader is the Monthly. The monthly chart has been bullish since 140.00 when Japanese PM Abe made that "QE" announcement that sent us flying 1000 pips overnight. Even the correction down to 147 and test of that level...
smash, fair enough when i do my analysis i start with the monthly time frame and move on to the weekly and then to the daily because i play the big trends i usually dont go under that once in awhile to the 4 hour chart... my thinking is that if the 150 level holds then the next floor may very well be the 168 to 169 level however, to be realistic lets see how it breaks out of this consolidation first either one way or the other if it breaks downward i may have to rethink my trading plan again however, its building a nice base around the area u are talking about the 147 to 148 area..that cant be ignored imo....it wrecked my bearish thesis i had for sure...this is a very interesting pair...

best
  • #8,476
  • Aug 15, 2013 11:19pm Aug 15, 2013 11:19pm
Beyond anything else, what I really need to do is boost my confidence... and discipline. Because I've just about lost it all recently.

Give me a vouch or two, and a few drinks, and I'll be happy to share with you guys everything I know.



somewhat sarcastic, somewhat not
Please check out my blog at https://from-zero-to-hero . net
  • #8,477
  • Aug 15, 2013 11:23pm Aug 15, 2013 11:23pm
Quoting msniper
yes I might be bullish in GJ but not now ! we need one final test on 147~148 area and if we break then we go 140 if we bounce then we are going 162
Not a chance we are going back to 140. Not a darn chance!
Please check out my blog at https://from-zero-to-hero . net
  • #8,478
  • Edited 11:50pm Aug 15, 2013 11:29pm | Edited 11:50pm
Quoting ninner
when i do my analysis i start with the monthly time frame and move on to the weekly and then to the daily because i play the big trends
If you (or anyone) kept this up, you'd have what it takes to be a daytrader!

Ok, back to trading... See y'all next week. I think we'll be seeing 154 soon!
Please check out my blog at https://from-zero-to-hero . net
  • #8,479
  • Aug 15, 2013 11:49pm Aug 15, 2013 11:49pm
Quoting msniper
{quote} hehe I have the same order on 153.25 153.45 153.65 153.85 because I cannot make sure when the bear attack might happened so better build position slowly

check out my journal you might find we got lot of things in common.
In trading, you have to be defensive and aggressive at the same time
  • #8,480
  • Aug 16, 2013 11:32am Aug 16, 2013 11:32am
i really like how its staying above the 151 area very positive....the weekly chart is looking alot more positive helped the daily chart...looks like it wants to test the 153.80 to 154 area taking one step at a time...

warmest regards

trravis
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