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Geppy's Geppy Thread (GBP/JPY)

  • #8,701
  • Sep 10, 2013 6:17pm Sep 10, 2013 6:17pm
Geppy looks ready to launch
  • #8,702
  • Sep 10, 2013 6:20pm Sep 10, 2013 6:20pm
Quoting edindzeko
Geppy looks ready to launch
NO, time for down now.

157.98 the resistance.
  • #8,703
  • Sep 10, 2013 6:39pm Sep 10, 2013 6:39pm
Quoting publicjud
{quote} NO, time for down now. 157.98 the resistance.
I agree. H1 rejected 158. H4 will do the same. we see 156.6 again before flying up or more falling down to fill the gap
  • #8,704
  • Edited 7:09pm Sep 10, 2013 6:56pm | Edited 7:09pm
Quoting smash1820
Seems like a lot of newcomers posting on this thread lately, which I think is good. Welcome guys! I'd like to remind everyone that I've been bullish on Geppy for the last three weeks, since around the 150 level (and technically before that, since 140, but I guess that doesn't count anymore), and G/J has crushed my target of 156.00 and my own expectations. This has been one hell of a move, but I'm not that surprised to see it because I knew they'd want to do it quickly. I'm actually disappointed with how I traded this move cuz I left a lot of...


Not sure right now if what I have to say has any substance behind it - but you asked the question.

1. IF this is a CORRECTIVE move, then (allowing a few 10s of pips either side) it should have completed in the area around 157.3/157.5 - that's a bit of an elliot wave thing.

2. Using my silly method of finding resistance levels (I showed you once before) it showed 157.7-157.8

3. There was considerable channel/trendline resistance coming in from 157 through to about 157.7

4. It appeared that the final wave up might complete somewhere in this area

5. The same reasoning indicated UJ completing present up-moves at about 100.5 and GU at or below 1.575 - I'm not sure about GU now - then again i'm not sure about anything right now.

6. At 157.3/4 we hit the monthly 100 EMA for the first time since 2008

BUT, if it doesn't crawl back under about 157.2/3 in the next few hours, I suspect it may continue up. I note someone here suggested 158.5, although maybe 159.x is more likely.

Yes, it is now in new territory unless it goes for a dive - but, without too much of the ongoing history lessons, this area we're in now has long been a problem for GJ - as in 1993/1995/1996/2000 and 2009. It's anybody's guess right now.
  • #8,705
  • Sep 10, 2013 6:59pm Sep 10, 2013 6:59pm
One more comment to your query - at 133.45 everyone thought it would hold as it had significance - price paused and flew through it.

Same with 140.

Same with 156.7

I think that 163 has equal significance - ie. little or none - but maybe one day we'll find out.
  • #8,706
  • Sep 10, 2013 9:06pm Sep 10, 2013 9:06pm
Quoting Mpt
{quote} Not sure right now if what I have to say has any substance behind it - but you asked the question. 1. IF this is a CORRECTIVE move, then (allowing a few 10s of pips either side) it should have completed in the area around 157.3/157.5 - that's a bit of an elliot wave thing. 2. Using my silly method of finding resistance levels (I showed you once before) it showed 157.7-157.8 3. There was considerable channel/trendline resistance coming in from 157 through to about 157.7 4. It appeared that the final wave up might complete somewhere in this...
Thanks for the response, man! I wasn't expecting that much of an answer, but I'm glad to have it.

I do remember you posting a few charts some time ago, but I can't remember the details of it except for a major resistance level (which I think we would have past by now) and some downtrend lines (prolly the one we're at now). And I forgot that you use Elliot waves, which is how it seems like you came up with that 157.70/.80 number.

I was going to write a longer response, but I guess it's not necessary anymore since you nailed that level with your "elliot wave thing". Nice job!! Although I still wonder as to how accurate it can really be and how frequently (over the course of enough trades), you definitely proved that it works and there is somethin' to it bc I didn't see anything in the area except for the "we've gone up too much" school of thought, lol.
Please check out my blog at https://from-zero-to-hero . net
  • #8,707
  • Sep 10, 2013 9:40pm Sep 10, 2013 9:40pm
Quoting smash1820
{quote} Thanks for the response, man! I wasn't expecting that much of an answer, but I'm glad to have it. I do remember you posting a few charts some time ago, but I can't remember the details of it except for a major resistance level (which I think we would have past by now) and some downtrend lines (prolly the one we're at now). And I forgot that you use Elliot waves, which is how it seems like you came up with that 157.70/.80 number. I was going to write a longer response, but I guess it's not necessary anymore since you nailed that level...
No problems. I only waves as part of the equation and NEVER rely on them - what i was trying to say was that a more than a small amount of reasoning had gone into those levels - not that it worked out in the end.

Right now, I think lots of folks are paid up members of the "we've gone too far" club. It may go up a fair bit more, or it may end right here in the next few minutes - that's why sometimes it's just best to watch and wait. Whilst going short with a small trade at these levels may be a mistake, I think that going long with a large trade here could well end in tears.
  • #8,708
  • Sep 10, 2013 10:01pm Sep 10, 2013 10:01pm
Quoting khol_hands
{quote} I agree. H1 rejected 158. H4 will do the same. we see 156.6 again before flying up or more falling down to fill the gap
I also noticed the gap,however, no reason for falling down agian, just leaving it farther and farther behind. This is the market.
Believe what you see instead of what you think!
  • #8,709
  • Sep 10, 2013 10:14pm Sep 10, 2013 10:14pm
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  • #8,710
  • Sep 10, 2013 10:25pm Sep 10, 2013 10:25pm
this my reason GJ weekly
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  • #8,711
  • Sep 11, 2013 12:53am Sep 11, 2013 12:53am
okay... 15 minute chart looks quite crazy.. look at this volatility... something's gonna happen... either shoot up or down.. is 9:30 GST will be the time of decision?
  • #8,712
  • Sep 11, 2013 1:33am Sep 11, 2013 1:33am
omg I just pocketed 55 pippers in a second! wtf happened?
A man is what he thinks about all day long. - Ralph Waldo Emerson
  • #8,713
  • Sep 11, 2013 1:36am Sep 11, 2013 1:36am
Quoting fxrustyspoon
omg I just pocketed 55 pippers in a second! wtf happened?

UK +ve news , looking for a downward move from here
  • #8,714
  • Sep 11, 2013 1:37am Sep 11, 2013 1:37am
definitely short
A man is what he thinks about all day long. - Ralph Waldo Emerson
  • #8,715
  • Sep 11, 2013 1:42am Sep 11, 2013 1:42am
Be careful guys
To live a successful life, we must lose our fear of being wrong
  • #8,716
  • Sep 11, 2013 1:43am Sep 11, 2013 1:43am
would be nice to ride it down to at least 157.47...
A man is what he thinks about all day long. - Ralph Waldo Emerson
  • #8,717
  • Sep 11, 2013 1:44am Sep 11, 2013 1:44am
Quoting EatPIPs
Be careful guys
Even a short retrace to mid 157 is not probably ?
  • #8,718
  • Sep 11, 2013 1:46am Sep 11, 2013 1:46am
Quoting EatPIPs
Be careful guys
yessir...got in at 158.4 with stop at be free trade but your right 2% rule and overbought conditions i'll take this trade anyday!
A man is what he thinks about all day long. - Ralph Waldo Emerson
  • #8,719
  • Sep 11, 2013 1:48am Sep 11, 2013 1:48am
20ema holding support once that goes its downhill till last high...
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A man is what he thinks about all day long. - Ralph Waldo Emerson
  • #8,720
  • Sep 11, 2013 1:51am Sep 11, 2013 1:51am
i managed to get one short at 15852 and other at 15835.
had one eurjpy from 133.21 closed at 132.79
I am very close to my daily profit target. will set alarm on pa. by ny open i ll be all done
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