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Geppy's Geppy Thread (GBP/JPY)

  • #9,421
  • Nov 15, 2013 6:52am Nov 15, 2013 6:52am
hmm.. reversal or chance to buy on dips here? or maybe I should just hedge?
  • #9,422
  • Nov 15, 2013 7:08am Nov 15, 2013 7:08am
Quoting counterpoint
hmm.. reversal or chance to buy on dips here? or maybe I should just hedge?
Million Dollar Question !
  • #9,423
  • Nov 15, 2013 7:27am Nov 15, 2013 7:27am
Quoting counterpoint
hmm.. reversal or chance to buy on dips here? or maybe I should just hedge?

Statistical probability would say 160.6 area. You do what u want.
  • #9,424
  • Nov 15, 2013 9:26pm Nov 15, 2013 9:26pm
For now I'm focusing my attention on other pairs, but I'll take a look again when the market opens on Sunday. GJ has been really strong and I suspect it will keep up next week until about 163 or so.

I guess that means "buy the dip" mode.
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  • #9,425
  • Nov 15, 2013 9:27pm Nov 15, 2013 9:27pm
currently we are in leg D...WITH the technicals so strong...high probability its going to a peak D, Leg E, peak E, Leg F, AND then a peak F...KNOWING that...buying dips would be prudent...just my thoughts....

best
  • #9,426
  • Nov 15, 2013 9:40pm Nov 15, 2013 9:40pm
Quoting Geppy
Seems like I'm alone here... holding longs from 160.60 'night, all.
Yep, longs...I'm gonna hold some little bit forever....I swear....2 years anyway....
  • #9,427
  • Nov 15, 2013 9:48pm Nov 15, 2013 9:48pm
Quoting Gbp/jpy
{quote} Yep, longs...I'm gonna hold some little bit forever....I swear....2 years anyway....


your not alone i have been long since the 152-153 area,,,,monthly we are in Leg E BUT slight chance we could be in brand new LEG A...CAN you believe that maybe a new LEG A...should be interesting...
  • #9,428
  • Nov 16, 2013 12:47am Nov 16, 2013 12:47am
Cable close to completing its messy correction / UJ soon to go into a retrace / GJ at fairly good resistance .............

I know that offering an alternate view does not always go down well, but I think that 161.65 has a reasonable chance of becoming, for a short while at least, the new "163".
  • #9,429
  • Nov 16, 2013 1:02am Nov 16, 2013 1:02am
i dont know about you but im very bullish on CABLE ..GOING higher....
  • #9,430
  • Edited 2:51am Nov 16, 2013 2:32am | Edited 2:51am
W
Quoting ninner
i dont know about you but im very bullish on CABLE ..GOING higher....
We will see. When it's competed it's 5 wave sequence ( which it may just have ), I think it will fall. The only question is whether it will drop out of its 157 support, or go down further. Hold at 157 indicates a wave 4 completion with new highs to come, or a b to the top-ish.

Where would that take gj?

I'm surprised that people can't see the resistance at 161.65. Maybe it will break, but I'm still kind of surprised. Ps it ain't just because it's a trend line ...but that is it's manefestation. But on a more positive note, the next resistance next week will be at about 162.8/163. Thereafter about 164 ish.
  • #9,431
  • Nov 16, 2013 9:55am Nov 16, 2013 9:55am
Quoting Mpt
W{quote} We will see. When it's competed it's 5 wave sequence ( which it may just have ), I think it will fall. The only question is whether it will drop out of its 157 support, or go down further. Hold at 157 indicates a wave 4 completion with new highs to come, or a b to the top-ish. Where would that take gj? I'm surprised that people can't see the resistance at 161.65. Maybe it will break, but I'm still kind of surprised. Ps it ain't just because it's a trend line ...but that is it's manefestation. But on a more positive note, the next resistance...

Mpt, see one of my previous posts...high probability we are going to a peak F...thus it should break it...i can draw a up sloping trend line...but that is another 100 pips up where significant resistance ..then i could see a pullback but i still see higher prices after that by my work
  • #9,432
  • Nov 16, 2013 11:08am Nov 16, 2013 11:08am
Quoting smash1820
For now I'm focusing my attention on other pairs, but I'll take a look again when the market opens on Sunday. GJ has been really strong and I suspect it will keep up next week until about 163 or so. I guess that means "buy the dip" mode.
I'm with you on this (except for focusing on other pairs). I held my longs into the weekend and I'm looking for at least a couple hundred pips more.
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  • #9,433
  • Nov 16, 2013 9:42pm Nov 16, 2013 9:42pm
Quoting ninner
your not alone i have been long since the 152-153 area,,,,monthly we are in Leg E BUT slight chance we could be in brand new LEG A...CAN you believe that maybe a new LEG A...should be interesting...
Nice! You have much better discipline and follow-through than me. I have known that G/J was going LOTS higher ever since 140, but I still can't pull myself out of the "scalping mode" I've been stuck in, as opposed to the "investing mode" like yourself. I've said this before, that I don't really follow elliott waves or fibonacci's -- as relevant as they may be -- but it just doesn't come naturally to me (or useful). But yes, believe it when I say it, the G/J bull move is just getting started. Provided that there will be retracements, of course. I actually think the 140.00 level was the beginning of the move -- both fundamentally and technically -- but I guess 16x.00 will work too, LOL. And although I don't do fibonacci, it wouldn't surprise me one bit to hear it be called a brand new leg. Isn't that what the price action is showing, after all?!


Quoting Geppy
I'm with you on this (except for focusing on other pairs). I held my longs into the weekend and I'm looking for at least a couple hundred pips more.
Congrats dude, you also have better discipline than me . I would probably be long here myself (over the weekend, etc), if it weren't for the fact that I'm also trying to focus on other pairs. But I will still play Geppy from time to time, when the risk/reward is there -- and long before it becomes obvious (which it is now). I expect G/J to be strong for a long time to come... and I suppose this would include GBP/USD and USD/JPY as well.

Can you say... 251?!?!

I'd like to know how Gnarley Bob feels about this!!
Please check out my blog at https://from-zero-to-hero . net
  • #9,434
  • Nov 16, 2013 9:48pm Nov 16, 2013 9:48pm
Quoting Gbp/jpy
Yep, longs...I'm gonna hold some little bit forever....I swear....2 years anyway....
I hope you're not kidding when you say this!
Please check out my blog at https://from-zero-to-hero . net
  • #9,435
  • Nov 17, 2013 2:10pm Nov 17, 2013 2:10pm
Quoting smash1820
{quote} Nice! You have much better discipline and follow-through than me. I have known that G/J was going LOTS higher ever since 140, but I still can't pull myself out of the "scalping mode" I've been stuck in, as opposed to the "investing mode" like yourself. I've said this before, that I don't really follow elliott waves or fibonacci's -- as relevant as they may be -- but it just doesn't come naturally to me (or useful). But yes, believe it when I say it, the G/J bull move is just getting started. Provided that there will be retracements, of course....
smash, doesnt matter how you trade as long as you make money...i find the longer term trends work for me and try not to overtrade as brokers want people too so they can make money on the spreads...i keep it simple counting my peaks and just one indicator and a longer term moving average..seems to be working for me so far...i can see why one would want to short the GBPJPY for a short term swing trade cus it does look overbought here and could easily pullback to the 160 to 159.50 area....i use fib level sometimes just a tool but i dont rely on it too much and usually combine with common sense....

gl to you and everyone on this trading week

ps one pair one may want to watch on a pullback is the EURJPY to go long....its setting up nicely imo
  • #9,436
  • Nov 17, 2013 5:33pm Nov 17, 2013 5:33pm
Quoting ninner
gl to you and everyone on this trading week
Thanks, you too bro
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  • #9,437
  • Nov 17, 2013 5:38pm Nov 17, 2013 5:38pm
Here's my thoughts on G/J for the start of the week. Actually, I think the screenshot says it all.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.JPG Size: 89 KB
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  • #9,438
  • Edited 6:57pm Nov 18, 2013 5:57pm | Edited 6:57pm
6 red candles in a row on 4 hour chart! haven't seen these in awhile. But the progress is kind of slow.. might shoot up again??? tempting to buy here..

[edit] bailed out from long position. Was a nice try but I'm still green from short at 161.60 closed 161. Entered another short at 161 SL 160.97.. Could be the beginning of a massive sell off here.. keeping tight SL and being very careful here..
  • #9,439
  • Nov 18, 2013 7:20pm Nov 18, 2013 7:20pm
Yep, counterpoint...especially this amount of pips away from the 163.xx
Historically the yen pairs go up this time of year till Jan. or so
  • #9,440
  • Nov 18, 2013 7:54pm Nov 18, 2013 7:54pm
Quoting Gbp/jpy
Yep, counterpoint...especially this amount of pips away from the 163.xx Historically the yen pairs go up this time of year till Jan. or so
Yeah.. quite glad I bailed out of long and went short again.. quite intriguing 1-minute chart.. stairs UP elevator DOWN...
your reference to 163... does it mean you're long?
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