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Geppy's Geppy Thread (GBP/JPY)

  • #8,861
  • Edited 12:36pm Sep 20, 2013 12:23pm | Edited 12:36pm
I believe Bernanke said QE will most likely continue until around 2016. So can we please just move up already?!?!?! Seriously wtf is taking so long. This friggin' chop is ridiculous. We haven't even tested 160 yet.
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  • #8,862
  • Sep 20, 2013 6:54pm Sep 20, 2013 6:54pm
Quoting smash1820
I believe Bernanke said QE will most likely continue until around 2016. So can we please just move up already?!?!?! Seriously wtf is taking so long. This friggin' chop is ridiculous. We haven't even tested 160 yet.
...
So, that last phrase you posted....that's huge....could that mean on Sunday they'll bump it up a good one?....JESSS, ....I'll be set for that.
  • #8,863
  • Sep 20, 2013 9:38pm Sep 20, 2013 9:38pm
To return directly to the uptrend (before a retrace to a support area) would now require a Monday gap up of about 50 pips to over 159.4/5

If we went straight up and over 159.9, there would appear to be resistance around 160.5 and also about 161.x

Those resistances are dropping and if we don't meet them next week, they will both arrive at 160 in about two weeks time.
  • #8,864
  • Sep 21, 2013 2:38am Sep 21, 2013 2:38am
Quoting smash1820
I believe Bernanke said QE will most likely continue until around 2016. So can we please just move up already?!?!?! Seriously wtf is taking so long. This friggin' chop is ridiculous. We haven't even tested 160 yet.

smash, patience my friend.....this is going alot higher ...needs more time....
  • #8,865
  • Sep 22, 2013 9:32pm Sep 22, 2013 9:32pm
Quoting ninner
smash, patience my friend.....this is going alot higher ...needs more time....
I know, but patience is the one thing I do not have. This thing needs to go higher PRONTO! Plus, it is oversold here (short-term). At least give me a bounce! Grrr
Please check out my blog at https://from-zero-to-hero . net
  • #8,866
  • Sep 22, 2013 9:47pm Sep 22, 2013 9:47pm
I changed my trading setup last week, and apparently that was a really bad idea... because the old one was working just fine. I guess it's back to the basics for me.
Please check out my blog at https://from-zero-to-hero . net
  • #8,867
  • Sep 22, 2013 11:18pm Sep 22, 2013 11:18pm
Perfect time to get long in my opinion, if you're not already.
Please check out my blog at https://from-zero-to-hero . net
  • #8,868
  • Sep 22, 2013 11:19pm Sep 22, 2013 11:19pm
Quoting smash1820
{quote} I know, but patience is the one thing I do not have. This thing needs to go higher PRONTO! Plus, it is oversold here (short-term). At least give me a bounce! Grrr

smash, this thing could pullback to 155 and have nothing wrong with it....it just went from 150 to 160...this is how financial instruments move....i would not be suprised if it pulled back and went into a consolidation phase right now....longer term charts say its in a bottoming formation imo
  • #8,869
  • Sep 22, 2013 11:50pm Sep 22, 2013 11:50pm
Today range is between 158 to 159 based on 1h chart, any important news release today to break this level ?
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  • #8,870
  • Sep 23, 2013 4:15am Sep 23, 2013 4:15am
My Chart::
Attached Image (click to enlarge)
Click to Enlarge Name: gj_h4.PNG Size: 148 KB
deep RoT is essential for everlasting happyness
  • #8,871
  • Sep 23, 2013 9:56am Sep 23, 2013 9:56am
158.3 is a strong support level for me. Failing that then 157.7 (23.6 FIB).


Failing both of these would see it at 156.3 IMO.

Not trading this pair but if I was I would have long orders in the above 3 positions. JPY BH today so not worth trading this pair until tomorrow.
To live a successful life, we must lose our fear of being wrong
  • #8,872
  • Sep 23, 2013 11:53am Sep 23, 2013 11:53am
Lucky break with japan off today, buy the dips. Not 1 reason in the world we wont hit 163 in 1-2 weeks. Low liquidity BS causes these moves and NOTHING else.

I wouldnt be surprised to se a 159 close and a massive hammer
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  • #8,873
  • Sep 23, 2013 11:59am Sep 23, 2013 11:59am
Quoting BobGnarly
Lucky break with japan off today, buy the dips. Not 1 reason in the world we wont hit 163 in 1-2 weeks. Low liquidity BS causes these moves and NOTHING else.
Before we gonna see 163.00 liquidity @ 156.25 & 154 has to be served. After that we might see 163. If not 147 is probable for the next weeks.
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  • #8,874
  • Sep 23, 2013 12:16pm Sep 23, 2013 12:16pm
Quoting FX-Ray
{quote} Before we gonna see 163.00 liquidity @ 156.25 & 154 has to be served. After that we might see 163. If not 147 is probable for the next weeks. {image}

A test of 160 must fail again before we see those prices
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  • #8,875
  • Sep 23, 2013 12:33pm Sep 23, 2013 12:33pm
Quoting BobGnarly
{quote} A test of 160 must fail again before we see those prices

Agreed.
To live a successful life, we must lose our fear of being wrong
  • #8,876
  • Sep 23, 2013 4:36pm Sep 23, 2013 4:36pm
Jess and that 157.25......
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clobbered the eur/auzzi.....friggin both ways....Ha...watch that one when waiting on the pair from hail to move. They're related....both are carry instruments....that's what drove the GBP/JPY to 251.11
  • #8,877
  • Sep 23, 2013 6:31pm Sep 23, 2013 6:31pm
Here's something to read while we wait~~~~~the whole " Mom and Pop " retail traders bunch in.....IN ....Japan, ...................are longing the Nikkei.

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GBP/JPY may follow. Whatcha think?? Sshesss
  • #8,878
  • Edited Sep 24, 2013 6:57am Sep 23, 2013 8:28pm | Edited Sep 24, 2013 6:57am
Buying this downmove...looking for a spike low to 157.41....gonna jump that. That 7pm in New York trade said sell....stop at 158.67....usually a short term trade.
  • #8,879
  • Edited 11:46pm Sep 23, 2013 11:05pm | Edited 11:46pm
Whilst GJ continues to trade above 158~158.1 it is still technically in the area for a retracement within the previous up trend.

Only below that means it is confirmed in a downtrend.

All +- a few pips.

If it fails to move up from this area to recover much over about 159 - and looking at where topside resistance sits, coupled with various downside supports - I half expect the "It's a head and shoulders" posts to start turning up here soon.
  • #8,880
  • Edited 4:20pm Sep 24, 2013 7:01am | Edited 4:20pm
That GBP/JPY chart is giving away free money....
That's amazing....dang, we stuff our socks while we can....it's effortless when the chart does that. I'm shell shocked.
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Listening to Santana....what a beat...what fire in the guitar
...
ETAdd.....rolling in pips......this week so far, rules state that I stop all trading for the week......but I'll get more conservative on the lot allocation...that's work
390 pips without risk.....at 27% OF THE ASSETS ( but no risk ). The main view is to confirm the trend till it's tradable.....but catching the turns has no risk but 9 pips, with slippage maybe 11 pips. Did you know you can trade the market without charts....I swear I could do two or three systems with just ALERTSFX. sent to my phone....
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