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Geppy's Geppy Thread (GBP/JPY)

  • #9,441
  • Nov 18, 2013 8:32pm Nov 18, 2013 8:32pm
Quoting counterpoint
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..
glad you didnt go long...you could go short or wait till the 160-158 area and see if that holds
  • #9,442
  • Nov 18, 2013 8:53pm Nov 18, 2013 8:53pm
got stopped out of my trading pos last night but i still have my core position...i went short the cadjpy as a hedge against my core position...
  • #9,443
  • Nov 18, 2013 8:54pm Nov 18, 2013 8:54pm
interesting..
  • #9,444
  • Edited 9:25pm Nov 18, 2013 9:14pm | Edited 9:25pm
It's just the amount of pips HISTORICALLY have this thing about reversals being 150 pips apart or a little more. Those two last pumps up went 180 pips each...one day apart ( that was back on Wed. and Thurs. mornings)....The 163 is the high from three years ago or so....
  • #9,445
  • Nov 19, 2013 12:16am Nov 19, 2013 12:16am
Quoting Gbp/jpy
It's just the amount of pips HISTORICALLY have this thing about reversals being 150 pips apart or a little more. Those two last pumps up went 180 pips each...one day apart ( that was back on Wed. and Thurs. mornings)....The 163 is the high from three years ago or so....
You talk as if it has already reversed ; there's probably one more move up into the 162x resistance area, or at least an attempt. After that, we would only know it has reversed if it drops out of about 159.
  • #9,446
  • Nov 19, 2013 12:35am Nov 19, 2013 12:35am
I wonder if we will have a mirrored weekly bar ( which would give bears momentum to drag price down to 156.6 or further next week) or bounce from 159.88 area toward new highs... in any case, weekly trendline short was very nice.
  • #9,447
  • Nov 19, 2013 12:47am Nov 19, 2013 12:47am
daily and h4 all showing sell. hmmm...
  • #9,448
  • Nov 19, 2013 12:49am Nov 19, 2013 12:49am
Even though it looks weak (maybe because it is!), unless it drops and holds below about 160 or so, I think there's a good chance it will crawl up again. Either to new highs up in the 162/163 area, or marginal new highs of around 161.9 ish.
  • #9,449
  • Nov 19, 2013 12:58am Nov 19, 2013 12:58am
Quoting Mpt
Even though it looks weak (maybe because it is!), unless it drops and holds below about 160 or so, I think there's a good chance it will crawl up again. Either to new highs up in the 162/163 area, or marginal new highs of around 161.9 ish.

I would say that looking at Nikei and its break up through many days of being in triangle (now seems as coming down to test the triangle) we will advance further up. I think I'll be buying from 160.2 area, depending momentum...
  • #9,450
  • Nov 19, 2013 1:36am Nov 19, 2013 1:36am
Eventually, resistance breaks. I have no view on the bearish or bullish nature of the UJ "triangle", but here is a graphical representation of resistance at these levels to date, going back into 2008:

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyweekly.png Size: 53 KB
  • #9,451
  • Nov 19, 2013 2:39am Nov 19, 2013 2:39am
Quoting Mpt
Eventually, resistance breaks.

Can I ask you, what is your view on Fokushima problem? Hypothetically, if something goes wrong (God forbid) when lifting fuel from reactor 4 pool, and criticality is reached, goes kaboom, and 30 % of Japan needs evacuation, that would put economy into huge problem... except for initial volatility, would that soften yen or made it stronger? I would say soften, no economy, no currency, but what do i know. All I know is that situation regarding Fokushima is worse day by day... For those who want more info search for Enenews.
  • #9,452
  • Nov 19, 2013 3:30am Nov 19, 2013 3:30am
While we wait, this is worth a read

https://www.cfact.org/2013/10/12/phy...lear-disaster/
  • #9,453
  • Nov 19, 2013 4:25am Nov 19, 2013 4:25am
Quoting Mpt
While we wait, this is worth a read https://www.cfact.org/2013/10/12/phy...lear-disaster/

It's not. Guy doesn't have a clue.
  • #9,454
  • Nov 19, 2013 3:55pm Nov 19, 2013 3:55pm
I am getting doubts about price going further up... Upper Trendline seems strong...
  • #9,455
  • Nov 19, 2013 8:22pm Nov 19, 2013 8:22pm
This thread is hard to stay on top of

Catching up now...
Please check out my blog at https://from-zero-to-hero . net
  • #9,456
  • Nov 19, 2013 8:38pm Nov 19, 2013 8:38pm
Price will definitely go higher... but when will it go higher is the question.


Due for a nice pull back, should be a good buying opportunity in coming days.
  • #9,457
  • Nov 19, 2013 8:54pm Nov 19, 2013 8:54pm
Quoting Ck87
Price will definitely go higher... but when will it go higher is the question. Due for a nice pull back, should be a good buying opportunity in coming days.

personally i agree with you...i think this will present another good trading opportunity both up and down.....short term bearish ...longer term bullish
  • #9,458
  • Nov 19, 2013 9:10pm Nov 19, 2013 9:10pm
Quoting ninner
personally i agree with you...i think this will present another good trading opportunity both up and down.....short term bearish ...longer term bullish
Actually, I think it's the opposite. Short-term bullish, and long-term bearish.

Although I guess it really depends on your perspective. When I say short-term, I guess I'm referring to the next several hours or more, and long-term refers to something like 8 hours or more.

After that, let's say, about next week or so, it's ultimately bullish and I'd say onward to 163 or so.
Please check out my blog at https://from-zero-to-hero . net
  • #9,459
  • Nov 19, 2013 9:18pm Nov 19, 2013 9:18pm
smash...you are hillarious...yes you are right...our time perspecitve..differs by alot lol
  • #9,460
  • Nov 19, 2013 9:19pm Nov 19, 2013 9:19pm
Quoting smash1820
{quote} Actually, I think it's the opposite. Short-term bullish, and long-term bearish. Although I guess it really depends on your perspective. When I say short-term, I guess I'm referring to the next several hours or more, and long-term refers to something like 8 hours or more. After that, let's say, about next week or so, it's ultimately bullish and I'd say onward to 163 or so.

Long term = months/years

Short term = coming days
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