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Geppy's Geppy Thread (GBP/JPY)

  • #8,801
  • Sep 17, 2013 10:09am Sep 17, 2013 10:09am
Sadly I'm selling both GJ and EJ, trapped. Month chart shows there'll be retreat sooner or later, but who knows, I'm getting less confidient . Anyone with me ?
Believe what you see instead of what you think!
  • #8,802
  • Sep 17, 2013 10:58am Sep 17, 2013 10:58am
Quoting JasmineQu
Sadly I'm selling both GJ and EJ, trapped. Month chart shows there'll be retreat sooner or later, but who knows, I'm getting less confidient . Anyone with me ?
you are not alone. Im short GJ bearish shark in weekly chart and butterfly harmonic in h4 still valid. need more patience.
be sure your MM was good.
  • #8,803
  • Sep 17, 2013 11:10am Sep 17, 2013 11:10am
I suspect that today will be another sideway, with no major moves. Markets just focused on tomorrow's news. I won't be thinking too much about forex today
  • #8,804
  • Sep 17, 2013 2:15pm Sep 17, 2013 2:15pm
am i seeing it correctly?
Attached Image (click to enlarge)
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Come tomorrow, I'll wake up new
  • #8,805
  • Sep 17, 2013 2:24pm Sep 17, 2013 2:24pm
Quoting gsbharaj
am i seeing it correctly? {image}
yep quite correctly
  • #8,806
  • Sep 17, 2013 7:46pm Sep 17, 2013 7:46pm
how about this???

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  • #8,807
  • Sep 17, 2013 7:53pm Sep 17, 2013 7:53pm
it looks like bearish to me.
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  • #8,808
  • Sep 17, 2013 7:56pm Sep 17, 2013 7:56pm
oopppsss... delete all buy order. hope we see today fill the GAP.
  • #8,809
  • Sep 17, 2013 8:12pm Sep 17, 2013 8:12pm
Now with the triangles....the e wave sends the price in the same direction it was going when entered....so the a wave is labeled wrong....
  • #8,810
  • Sep 17, 2013 8:34pm Sep 17, 2013 8:34pm
You can interpret wave counts for these recent moves, you can draw trendlines everywhere and you can look at all your indicators (which were showing bearish, but not so much now) .... but it ain't going down yet!

I still hold to the view that if 157.5 breaks, then it falls from there. Obviously, if 158.3/4 is reached, it either double tops or it moves up.

However, one thing to watch is the 157.8 (ish) level on a 4 hour chart. Whilst it constantly breaks to or over that level, it has not managed a close over it (let alone a candle main body close) for some days.
  • #8,811
  • Sep 17, 2013 9:06pm Sep 17, 2013 9:06pm
pardon me....
still on TL H1
  • #8,812
  • Sep 17, 2013 9:07pm Sep 17, 2013 9:07pm
Quoting Gbp/jpy
Buy the carapppp outta 156.87......and the break of recent highs around 158.xx
I gather from your post that you consider this to be a continuation triangle and that we're in the B wave.

A small coincidence to share with you ....

If you assume the move down from 158.5 to 156.6 was the A wave (186 pips) , then should we end up having a C wave down (which by nature can be quite fast) ....

Operating on the naive assumption that this B wave has capped already at 158.13, then IF the next wave down (C) JUST HAPPENED to be the A wave length multiplied by 1.618 (which is pretty much a common A:C relationship) ..... then the C wave would be 300 pips long .... and would complete at the bottom of last week's gap ... more or less to the pip at 155.15

Coincidence only? Who knows. But it makes for a good story!
  • #8,813
  • Sep 17, 2013 9:18pm Sep 17, 2013 9:18pm
Quoting Gbp/jpy
Now with the triangles....the e wave sends the price in the same direction it was going when entered....so the a wave is labeled wrong....
bad news - NO body knows where it goes.
good news - who through the boundaries between support and resistance before, he is the winner (buyer or seller)
  • #8,814
  • Sep 17, 2013 10:12pm Sep 17, 2013 10:12pm
we will know more in about 6 hours
  • #8,815
  • Sep 18, 2013 1:56am Sep 18, 2013 1:56am
I think upcoming GBP bank rate report can move GBPJPY
Mail: holygrailea (AT) gmail ( DOT ) com
  • #8,816
  • Sep 18, 2013 3:06am Sep 18, 2013 3:06am
i opened sell gbp/yen
buy eur/gbp
  • #8,817
  • Sep 18, 2013 4:23am Sep 18, 2013 4:23am
Gold has fallen back to 1300 and I dont believe its finishing there either. GJ isnt going to go south in the current market mid term IMO. We will see the 160s before seeing below the mid 150s again.

That's how I see it anyway.
To live a successful life, we must lose our fear of being wrong
  • #8,818
  • Sep 18, 2013 4:53am Sep 18, 2013 4:53am
Quoting EatPIPs
Gold has fallen back to 1300 and I dont believe its finishing there either. GJ isnt going to go south in the current market mid term IMO. We will see the 160s before seeing below the mid 150s again. That's how I see it anyway.
rasionality, hedging part one tp 158.45 double top
  • #8,819
  • Sep 18, 2013 6:10am Sep 18, 2013 6:10am
Quoting khol_hands
{quote} rasionality, hedging part one tp 158.45 double top
closed my long.only 5 pips
GU in daily was overbought.
  • #8,820
  • Sep 18, 2013 10:32am Sep 18, 2013 10:32am
How FOMC reports will effect gbpjpy ?
Mail: holygrailea (AT) gmail ( DOT ) com
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