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Geppy's Geppy Thread (GBP/JPY)

  • #9,161
  • Oct 11, 2013 9:43am Oct 11, 2013 9:43am
Quoting KillerWhale
Made 37 pips shorting while I was asleep
Money never sleeps I can hear the dollar calling me
  • #9,162
  • Edited 8:08pm Oct 11, 2013 7:34pm | Edited 8:08pm
Assuming it opens flat on Monday, resistance will be just at, or slightly above double top, 157.7/8 or possibly about 158. If it chooses to even go there!

From those areas, we should see a fall back to the 155.3/6 area.

If it breaks below the previous low of 154.7, then we could see a fairly quick drop to about 153 or 152 - but that would just mean that GJ is more than likely in a slightly bigger rising wedge.
  • #9,163
  • Oct 12, 2013 2:04am Oct 12, 2013 2:04am
Stuck up with a sell order now But mondays opening will decide the future of my trade now.
  • #9,164
  • Oct 12, 2013 2:14am Oct 12, 2013 2:14am
Quoting Greeneyez
Stuck up with a sell order now But mondays opening will decide the future of my trade now.
Put SL of 157.60 and target 155.24
Money never sleeps I can hear the dollar calling me
  • #9,165
  • Oct 12, 2013 6:09pm Oct 12, 2013 6:09pm
Always allow at least 15 to 25 pips above the previous high. Much above that, its probably continuing up. But I consider that it's tracking up below a very strong resistance line and should fail soon regardless as to where it stops. Just because it closed at what appears on a computer screen to be at channel top may or may not be irrelevant. In fact, to confirm ultimate bullishness for another run at the top later, several pips above the channel and previous high is desirable.
  • #9,166
  • Oct 14, 2013 12:20am Oct 14, 2013 12:20am
Time for some more Yen safe haven buying?
  • #9,167
  • Oct 14, 2013 12:23am Oct 14, 2013 12:23am
competition time

who will fall first ?

Attached Image (click to enlarge)
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  • #9,168
  • Edited 2:36am Oct 14, 2013 12:55am | Edited 2:36am
Quoting PatienceFx
competition time who will fall first ? {image}
Neither of them - but if GJ cannot get up, it may yet drop back again to the weekly pivot at about 156.45

What's the prize?
  • #9,169
  • Oct 14, 2013 1:57am Oct 14, 2013 1:57am
Personally I won't be watching any of the JPY crosses to see which one drops first, I will be watching the Nikkei 225 Index. Its been a great indicator of Yen strength/weakness these past few months, especially the last couple weeks.

For those not sure what I mean: Nikkei drop means Yen strength, Nikkei up means Yen weakness
  • #9,170
  • Oct 14, 2013 3:21am Oct 14, 2013 3:21am
Quoting PatienceFx
competition time who will fall first ? {image}
h4 strong bullish with MA 200 under candle
  • #9,171
  • Oct 14, 2013 3:56am Oct 14, 2013 3:56am
Hello fellow traders,

I have a very bearsih view on GBP/JPY, below im explaning my reasons:

Chart 1, weekly:

notice the CLEAR divergence between the RSI and PA! RSI is moving lower and PA contiuing higher, and now i see a clear weakness in the pair which is a strong signal for me indicating a lower move.
Red indicated line is where my SL is, light blue is where i'm planning to add if we get their, blue is nother area where im planning to add once we close below and green is where i will take my tp

Chart 2, H4:

the two yellow circles show the double top occured earlier, red circule shows the candle where the PA closed below the earlier strong structure, now we are testing the same structure as well. in case you wonder why i have a sell order at the light blue line, i have a "test" & "proven" strategy for the double tops where i know "roughly" where would the PA retrace to before diving down like a rocket!

if anyone is intrested i can explain the strategy

Good luck
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GJ H4.gif Size: 16 KB
  • #9,172
  • Edited 4:58am Oct 14, 2013 4:30am | Edited 4:58am
support 156.6x MA 200 on H1
support 156 7x MA 200 on H4
supply and demand support 156.4x
resistance 157.4x
  • #9,173
  • Oct 14, 2013 4:31am Oct 14, 2013 4:31am
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  • #9,174
  • Oct 14, 2013 4:35am Oct 14, 2013 4:35am
Quoting GDR3k
{image}
i was getting bored mate LOL waiting for stupid geppy and cable to move down, but finally here we are
  • #9,175
  • Oct 14, 2013 4:42am Oct 14, 2013 4:42am
Quoting fxmasterdxb
{quote} i was getting bored mate LOL waiting for stupid geppy and cable to move down, but finally here we are
Yeah I'd like them both to drop, GU to 1.59 or even lower to 1.58, this pair to 156, GbpAud to 1.6660 and getting in long there
  • #9,176
  • Oct 14, 2013 4:43am Oct 14, 2013 4:43am
Quoting fxmasterdxb
Hello fellow traders, I have a very bearsih view on GBP/JPY, below im explaning my reasons: Chart 1, weekly: notice the CLEAR divergence between the RSI and PA! RSI is moving lower and PA contiuing higher, and now i see a clear weakness in the pair which is a strong signal for me indicating a lower move. Red indicated line is where my SL is, light blue is where i'm planning to add if we get their, blue is nother area where im planning to add once we close below and green is where i will take my tp Chart 2, H4: the two yellow circles show...
If you accurately use your weekly circular TL, you'll see that resistance is possibly up as high as 158/158.2 (assuming it can get to and past 157.6)

and on a 4hr line, we're just above it

Although below 156.4 it's probably all over
  • #9,177
  • Oct 14, 2013 4:55am Oct 14, 2013 4:55am
Quoting Mpt
{quote} If you accurately use your weekly circular TL, you'll see that resistance is possibly up as high as 158/158.2 (assuming it can get to and past 157.6) and on a 4hr line, we're just above it Although below 156.4 it's probably all over
hmm what trend line are you referring to? i did not draw any trend line, that was only "indicative line" showing the divergence
  • #9,178
  • Oct 14, 2013 4:59am Oct 14, 2013 4:59am
Quoting fxmasterdxb
{quote} hmm what trend line are you referring to? i did not draw any trend line, that was only "indicative line" showing the divergence
if you find its starting point and the centre, you can see resistance and support on the right side. The start was around 136 a long time ago
  • #9,179
  • Oct 14, 2013 5:56am Oct 14, 2013 5:56am
Quoting PatienceFx
competition time who will fall first ? {image}
confusing day today, guess its the total lack of news

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  • #9,180
  • Oct 14, 2013 6:37am Oct 14, 2013 6:37am
short term better short than long.
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