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Geppy's Geppy Thread (GBP/JPY)

  • #8,561
  • Edited 11:40pm Aug 28, 2013 11:28pm | Edited 11:40pm
All recent and apparent bearish indications aside, it's still holding nicely in the weekly rising channel - so far

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  • #8,562
  • Aug 28, 2013 11:41pm Aug 28, 2013 11:41pm
Quoting Mpt
All recent and apparent bearish indications aside, it's still holding nicely in the weekly rising channel {image}
Agreed. Daily chart also showing nice support towards lower TL of upward channel.
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  • #8,563
  • Aug 29, 2013 12:57am Aug 29, 2013 12:57am
just cant get any followthrough either way and caught in this rectangular or congestion pattern ..volatility is quite low...something will have to give..either up or down.... probably going abit higher now probably to at least test th e152.11 area...
  • #8,564
  • Aug 29, 2013 1:16am Aug 29, 2013 1:16am
Quoting ninner
just cant get any followthrough either way and caught in this rectangular or congestion pattern ..volatility is quite low...something will have to give..either up or down.... probably going abit higher now probably to at least test th e152.11 area...
I would push it to say at least 152.6...
To live a successful life, we must lose our fear of being wrong
  • #8,565
  • Edited 1:41am Aug 29, 2013 1:30am | Edited 1:41am
Quoting ninner
just cant get any followthrough either way and caught in this rectangular or congestion pattern ..volatility is quite low...something will have to give..either up or down.... probably going abit higher now probably to at least test th e152.11 area...
Yeah, momentum is very low and there's resistance from here up to 152.5. But momentum loss can be deceiving - we've seen a lot of low momentum moves over the last few weeks that still manage to travel several hundred pips. To paraphrase my earlier post and that of EatPips, while it remains in the rising channel, it stays bullish (if only by definition). If this was a corrective wave, it would more than likely have spiked up on Carney's comments and then retreated. The fact that it's held up so far points a little more to the bullish view (as opposed to a corrective view). Above about 153 ish could mean a move to double top or 156.7

Although I know why our friend placed his stop at 151.99 - it makes sense (apart from the spread issue).
  • #8,566
  • Aug 29, 2013 4:55pm Aug 29, 2013 4:55pm
Mpt, you mentioned spread.......so with it....yep. my stop was catastrophic at 152.07.............manual stops....never a true stop if you're watching anyway...
  • #8,567
  • Aug 29, 2013 7:02pm Aug 29, 2013 7:02pm
Quoting Gbp/jpy
Mpt, you mentioned spread.......so with it....yep. my stop was catastrophic at 152.07.............manual stops....never a true stop if you're watching anyway...
Sorry if I came across as sounding a little impolite ... didn't mean that to be the case.

Anyway, here we sit at the half way point, looking like it wants to drop but still going nowhere. If it can clear about 152.75, the next area of interest would be 153 (61.8), then the weekly pivot/daily gann at 153.35
  • #8,568
  • Edited 3:17am Aug 30, 2013 3:06am | Edited 3:17am
somebody post Two physiological levels UP and DOWN side, time to toss a coin ...
  • #8,569
  • Aug 30, 2013 5:44am Aug 30, 2013 5:44am
Open for interpretation.

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  • #8,570
  • Aug 30, 2013 10:40pm Aug 30, 2013 10:40pm
tough to say right now...im staying short right now..we made a peak D on the daily and a peak D on the weekly but only peak C on the monthly from what i can tell.....it may have double topped at 154.03 and so far the 9 ema iis resistance on the daily so im looking for more weakness with test of the lows of 148.24
  • #8,571
  • Aug 31, 2013 11:30am Aug 31, 2013 11:30am
No, Mpt....your post was spot on the money....twas a good eye on that trade ....took profit twice.. I'm thinking this Sunday will spike up, and sell till London gets it's second chance to jump onboard....then New York ...then down for good if the big boys find a way to slow down the flow of oil. do something really evil in the world scheme of things. GBP/JPY leads the way by 20 minutes when this stuff hits.
  • #8,572
  • Aug 31, 2013 12:11pm Aug 31, 2013 12:11pm
Quoting Gbp/jpy
No, Mpt....your post was spot on the money....twas a good eye on that trade ....took profit twice.. I'm thinking this Sunday will spike up, and sell till London gets it's second chance to jump onboard....then New York ...then down for good if the big boys find a way to slow down the flow of oil. do something really evil in the world scheme of things. GBP/JPY leads the way by 20 minutes when this stuff hits.

curious if you have a downside target if it breaks downward which im starting to think is a strrong possibilitiy since i think a risk off trade may be occuring and the false breakout i think 137 to 138 is doable
  • #8,573
  • Edited 4:23pm Aug 31, 2013 3:55pm | Edited 4:23pm
Quoting ninner
{quote} curious if you have a downside target if it breaks to the dadgummed downward which im starting to think is a strong dadgummed possibilitiy since i think a risk off trade may be occuring and the conflammed hornswaggled false breakout i think 137 to 138 is doable
...
...
Oh , man ninner....I had 79.83 a year ago....if 163.xx failed......it's all down to global outlook now... War is the problem....one more war and kablammo....too much evil....Am I right about that part?
  • #8,574
  • Aug 31, 2013 4:58pm Aug 31, 2013 4:58pm
i sense you are frustrated lol
  • #8,575
  • Sep 1, 2013 7:11pm Sep 1, 2013 7:11pm
o not that....I'm led by the Spirit....that target fits the fall from 2007....from 251.11
and the dow went to 700....it fits, let's see what the global leaders have in mind.....euro could go down to parity....etc....
  • #8,576
  • Sep 1, 2013 7:55pm Sep 1, 2013 7:55pm
just on a common sense basis this went up from 120 to 156....even if its in a bull trend a 50 percent correction is normal which would take it back to 137....this is the third consolidation it has formed which can be riskier and its looking alot looser than the other 2..we will see im prepared to switch sides if need be one has to play the probabilities if im wrong then just flip
  • #8,577
  • Edited 4:07pm Sep 2, 2013 5:05am | Edited 4:07pm
well when you are wrong you are wrong....closed my short for a 28 pip loss and went long....last night at 153..08...we will see how much strength it has left...GBP/JPY is right improving economic strength vs war.....we will see who wins out right now iits economic strength ...right now on the weekly i have LEG E/B , the technicals are mixed but got through that candle on the week of april 7 so at this moment looks like the 156 to 156.30 will at least get tested.....thiis is a wild pair....

cheers
  • #8,578
  • Sep 3, 2013 12:58am Sep 3, 2013 12:58am
Quoting ninner
well when you are wrong you are wrong....closed my short for a 28 pip loss and went long....last night at 153..08...we will see how much strength it has left...GBP/JPY is right improving economic strength vs war.....we will see who wins out right now iits economic strength ...right now on the weekly i have LEG E/B , the technicals are mixed but got through that candle on the week of april 7 so at this moment looks like the 156 to 156.30 will at least get tested.....thiis is a wild pair.... cheers
You may not have been "wrong". Just a little early.
  • #8,579
  • Sep 3, 2013 10:06pm Sep 3, 2013 10:06pm
Boy, this thread sure gets quiet when I'm not around! rofl
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  • #8,580
  • Sep 3, 2013 11:27pm Sep 3, 2013 11:27pm
Quoting Mpt
{quote} You may not have been "wrong". Just a little early.
if we bust these highs ...a case can be made we go alot and i mean alot higher.....
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