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Geppy's Geppy Thread (GBP/JPY)

  • #8,521
  • Aug 21, 2013 9:46pm Aug 21, 2013 9:46pm
i dont do elliott wave and abit fibonacci...i do the chapman wave methodology which is different than elliott
  • #8,522
  • Aug 21, 2013 10:00pm Aug 21, 2013 10:00pm
Quoting ninner
i dont do elliott wave and abit fibonacci...i do the chapman wave methodology which is different than elliott
wow, cool. guess i gotta check that out... i've never heard of chapman before... !

did a basic goog search though and discovered he has his own youtube channel. here's the analysis for today:
Inserted Video


just am listening to the beginning of it now... and i like what i hear. seems based on a lot of PA, which i like... gonna look more into this for sure, thanks!
Please check out my blog at https://from-zero-to-hero . net
  • #8,523
  • Aug 21, 2013 10:11pm Aug 21, 2013 10:11pm
no problem smash. it is very good and he stresses that you can add to it to an existing technique you are using ...its very complimentary....he is a very interesting guy!!!
  • #8,524
  • Aug 21, 2013 10:16pm Aug 21, 2013 10:16pm
So, Cable may possibly have completed its up move, having what appears to be a break out of its rising wedge. Somewhere about here, it should now retrace some 70~100 pips. And if it hasn't completed the whole upmove, it may still have some 200 pips left in it.

UJ is stuck at moderate resistance, but should probably break it soon. Next resistance is around 99, then probably a clear run to 101 after 99 is taken out.

GJ next resistance is around 154 and then 154.7/8/9. If it's going to drop big time, that area is probably where it starts. If its going to extend to the 156 area, that's where the break out would probably happen.
  • #8,525
  • Aug 22, 2013 1:55am Aug 22, 2013 1:55am
Quoting Mpt
So, Cable may possibly have completed its up move, having what appears to be a break out of its rising wedge. Somewhere about here, it should now retrace some 70~100 pips. And if it hasn't completed the whole upmove, it may still have some 200 pips left in it. UJ is stuck at moderate resistance, but should probably break it soon. Next resistance is around 99, then probably a clear run to 101 after 99 is taken out. GJ next resistance is around 154 and then 154.7/8/9. If it's going to drop big time, that area is probably where it starts. If its going...
153.9 is a major for me in the current range. Either break or stall at that point. We are in a channel at the moment where we have failed to break through on the last two attempts within the last 316 4HR candles.

I still have one long open but as soon as we get to 153.9 (if we do) I will manually adjust SL to a trailing SL simply because that level could be the ultimate fall level again 500 pips down or so over the next week.

Otherwise 156 would be my target if it continues rising.
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To live a successful life, we must lose our fear of being wrong
  • #8,526
  • Aug 22, 2013 2:51am Aug 22, 2013 2:51am
Quoting EatPIPs
{quote} 153.9 is a major for me in the current range. Either break or stall at that point. We are in a channel at the moment where we have failed to break through on the last two attempts within the last 316 4HR candles. I still have one long open but as soon as we get to 153.9 (if we do) I will manually adjust SL to a trailing SL simply because that level could be the ultimate fall level again 500 pips down or so over the next week. Otherwise 156 would be my target if it continues rising. {image}
Yes, 153.9~154 and rising is current channel top. However, we still have the original channel tl 150.7~153.2 etc that is still rising and could come back into play if 154 breaks. And there's resistance above 154 up to about 154.8.

The thing is that, while we sometimes see divergence on medium and higher timeframes, it keeps being "undone", so, other than just coming up against an invisible brick wall, stopping and reversing, there's nothing saying that a MAJOR change of direction is at hand - unless someone else has a view on that matter???

The only concern is the dropping momentum, and that could be the giveaway.
  • #8,527
  • Aug 22, 2013 2:54am Aug 22, 2013 2:54am
Quoting Mpt
{quote} Yes, 153.9~154 and rising is current channel top. However, we still have the original channel tl 150.7~153.2 etc that is still rising and could come back into play if 154 breaks. And there's resistance above 154 up to about 154.8. The thing is that, while we sometimes see divergence on medium and higher timeframes, it keeps being "undone", so, other than just coming up against an invisible brick wall, stopping and reversing, there's nothing saying that a MAJOR change of direction is at hand - unless someone else has a view on that matter???...
To live a successful life, we must lose our fear of being wrong
  • #8,528
  • Aug 22, 2013 5:08am Aug 22, 2013 5:08am
Quoting Mr.C
Hi guys. Supporting traders who are shorting Geppy at the moment. Sold the pair from 153,200. SL @ 153,650. Good luck to all!
Good day people. Stopped out with this one. SL taken out by couple pips and a ~80 pips move down afterwords. Was expecting more so I was wrong this time. Account damage: 0,5%. Congrats to guys who made pips and good luck today!
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #8,529
  • Aug 22, 2013 8:05am Aug 22, 2013 8:05am
:nerd:
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  • #8,530
  • Aug 22, 2013 8:13am Aug 22, 2013 8:13am
Closed my long manually.

Sitting on the sidelines for now.

Waiting for 153.9 or 152.6 to be cleared.
To live a successful life, we must lose our fear of being wrong
  • #8,531
  • Aug 22, 2013 10:05am Aug 22, 2013 10:05am
short from here?

who is with me?

15 min GBP/JPY
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  • #8,532
  • Aug 22, 2013 10:09am Aug 22, 2013 10:09am
Quoting openyoureyes
short from here? who is with me? 15 min GBP/JPY {image}
WOW :nerd:
To live a successful life, we must lose our fear of being wrong
  • #8,533
  • Aug 22, 2013 10:14am Aug 22, 2013 10:14am
Quoting EatPIPs
{quote} WOW :nerd:
I like sniping with tight SL

whats short/mid term your view?
(until tomorrow GBP news)
  • #8,534
  • Aug 22, 2013 10:21am Aug 22, 2013 10:21am
Quoting openyoureyes
{quote} I like sniping with tight SL whats short/mid term your view? (until tomorrow GBP news)
I was WOW'ing at all your indicators! Talk about keeping it simple!

Im out of trading GJ for now. Not worth the risk IMO as it is literally the same as gambling at the moment with current PA.

Need a much clearer view. Don't think I will be trading this pair until next week now
To live a successful life, we must lose our fear of being wrong
  • #8,535
  • Aug 22, 2013 10:26am Aug 22, 2013 10:26am
Quoting EatPIPs
{quote} I was WOW'ing at all your indicators! Talk about keeping it simple! Im out of trading GJ for now. Not worth the risk IMO as it is literally the same as gambling at the moment with current PA. Need a much clearer view. Don't think I will be trading this pair until next week now
I use 2 x 24" samsung syncmasters.

so I track plain tick charts at one for price action,

the one I posted is rainbow trend,
+
Stoch Stack
Volume
Macd
Momentum
RSI
CCI
4X 2010 VQ
HMA - Hull Moving Average

nothing out of ordinary =)
  • #8,536
  • Aug 22, 2013 10:37am Aug 22, 2013 10:37am
Quoting openyoureyes
{quote} I use 2 x 24" samsung syncmasters. so I track plain tick charts at one for price action, the one I posted is rainbow trend, + Stoch Stack Volume Macd Momentum RSI CCI 4X 2010 VQ HMA - Hull Moving Average nothing out of ordinary =)
I would go crazy looking at all that information. Not to say I did not try a handful of those indi's many years ago when I started, even recently I was referring alot to the W%R for confirmations.

But nowadays, 9 out of 10 times I use a chart like the one below. Strength indicator and pure SR. I haven't even used fibs for over a month now.

I would never expose myself by showing my trading account etc but I have attached a screen shot showing this weeks returns so far. It is not for any purpose whatsoever - just for information (I have removed all other information from the screenshot) to show that if you can master SR with PA, there is not much more that you really need.

Of course, whatever works for you works! Otherwise you wouldn't be using your system, but personally I would be colour blind by the end of each day looking at those charts all day long LOL!
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To live a successful life, we must lose our fear of being wrong
  • #8,537
  • Aug 22, 2013 7:29pm Aug 22, 2013 7:29pm
i bought back in to this beast....the way this is actin esp on the weekly this may have along ways to go to the upside yet
  • #8,538
  • Edited 9:41pm Aug 22, 2013 8:57pm | Edited 9:41pm
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In general....one can see the 10 day MA rising.....go with that....till we see a close below it...simple, huh!
..
for shorter term....a 9-18 ema on a 15M chart and see the trend that catches the 4th candle after the cross-over.....that's the real one....or the 4th candle nearly touches the line....and goes in the direction wanted....short term, that's powerful.....
  • #8,539
  • Aug 22, 2013 9:44pm Aug 22, 2013 9:44pm
Here's a picture of me all dressed up for work....in case you were wanting to see what I look like ... ?Did you know I'm old?
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  • #8,540
  • Aug 22, 2013 10:09pm Aug 22, 2013 10:09pm
Breaking up or down!!! follow the price action...
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