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Geppy's Geppy Thread (GBP/JPY)

  • #9,661
  • Nov 27, 2013 4:23am Nov 27, 2013 4:23am
so what next??
  • #9,662
  • Nov 27, 2013 4:27am Nov 27, 2013 4:27am
Quoting Mr. Monk
so what next??
daily overbought RSI (14) at level 80. closed all my hedging.
they almost kill me
good luck
  • #9,663
  • Nov 27, 2013 4:30am Nov 27, 2013 4:30am
Quoting khol_hands
{quote} daily overbought RSI (14) at level 80. closed all my hedging. they almost kill me good luck
next 158. according tf daily (lower high)
  • #9,664
  • Nov 27, 2013 4:32am Nov 27, 2013 4:32am
158??? or 168???
  • #9,665
  • Nov 27, 2013 5:39am Nov 27, 2013 5:39am
sell 166.10
  • #9,666
  • Edited 6:10am Nov 27, 2013 5:40am | Edited 6:10am
There's nominal res at 166.1/2, 166.4, 166.5, 167, then about 169, 170 and 172, then not much until about 176 and 178.

179 is near top of ichimoku for the monthly and there sits the monthly 200sma. 179 gave good support/resistance in 2001, 2002 and 2003.
  • #9,667
  • Nov 27, 2013 9:36am Nov 27, 2013 9:36am
Just wondering what gonna stop this beast. It keeps going up and up !!!!
"Everyone wants to go to Heaven, but no one wants to die."
  • #9,668
  • Nov 27, 2013 9:56am Nov 27, 2013 9:56am
Touch wood I do not want this to happen, but only thing which can stop this beast from going up again n again is a big EarhQuake in Japan.. I am just saying this to answer your query as I really do not wish this to happen.. but if it happens, it can send GBP to a fresh bottom..
  • #9,669
  • Nov 27, 2013 10:27am Nov 27, 2013 10:27am
Quoting veer2010
Touch wood I do not want this to happen, but only thing which can stop this beast from going up again n again is a big EarhQuake in Japan.. I am just saying this to answer your query as I really do not wish this to happen.. but if it happens, it can send GBP to a fresh bottom..
Then lets pray for the EarthQuake!!!
"Everyone wants to go to Heaven, but no one wants to die."
  • #9,670
  • Edited 3:00pm Nov 27, 2013 2:49pm | Edited 3:00pm
Quoting Ck87
It's not worth it. Focus on H1 H4 D1 AND W1 like you focus on 1m 5m 15m and you will be in a lot better spot.
Good call. I'm so sick of missing these moves (including the sick 50 pip run this morning), I think I've finally got the message

It has only taken me... what... 3 years to say this?! lol

I swear, I am going to focus on 15M and 4H from now on... and I'm not going to let any more moves get past me! I'm going to create a trade explorer like da master Geppy displayed a few days ago, which was beautiful.

Also an EA to scan the market for the best opportunities. Dunno if this is already out there, but I'd rather create it myself anyways.

It's time for me to catch up to all of you... starting NOW! muahhh hhaaa haaaa im going to do it, dammit
Please check out my blog at https://from-zero-to-hero . net
  • #9,671
  • Nov 27, 2013 3:04pm Nov 27, 2013 3:04pm
Quoting smash1820
{quote} Good call. I'm so sick of missing these moves (including the sick 50 pip run this morning), I think I've finally got the message It has only taken me... what... 3 years to say this?! lol I swear, I am going to focus on 15M and 4H from now on... and I'm not going to let any more moves get past me! I'm going to create a trade explorer like da master Geppy displayed a few days ago, which was beautiful. Also an EA to scan the market for the best opportunities. Dunno if this is already out there, but I'd rather create it...

To be honest you'd be better off throwing the 15 minute chart away as well. There's a lot of damn noise on there and it still gets me in trouble. It's okay to scalp markets that are trending very well though, such as the Yen and Aussie pairs right now.

But overall you will do way, way better focusing on H1 H4 D1 W1

I still look at M15 a lot, but I wish I could just stay away from it completely, other than in the situations like I stated, because it does tend to work well for scalps in those, but still not ideal and better to stick with H1+H4
  • #9,672
  • Nov 27, 2013 3:19pm Nov 27, 2013 3:19pm
Quoting Ck87
{quote} To be honest you'd be better off throwing the 15 minute chart away as well. There's a lot of damn noise on there and it still gets me in trouble. It's okay to scalp markets that are trending very well though, such as the Yen and Aussie pairs right now. But overall you will do way, way better focusing on H1 H4 D1 W1 I still look at M15 a lot, but I wish I could just stay away from it completely, other than in the situations like I stated, because it does tend to work well for scalps in those, but still not ideal and better to stick with H1+H4...
I hear ya. You're probably right, but I spend so much screen time in front of the computer that half the reason why I trade 15M is just because I can and have the time. So I know the temptation is always going to be there, which makes the 15M time frame a tough one to avoid.

But I will do my best and I agree with most of your statements. You just gotta know when it is okay and/or not okay to apply 15 minute charts. That is why I use a multiple time frame approach that takes into account many variables. Read up on it and you could easily learn how to use 15m charts properly. For me, it's not a matter of knowing when to use them, it's a matter of having enough discipline to follow whatever my plan may be at the time. My plan is usually right, but I somehow always find a way to f* it up. lol

BUT NOT ANYMORE.
Please check out my blog at https://from-zero-to-hero . net
  • #9,673
  • Nov 27, 2013 3:34pm Nov 27, 2013 3:34pm
Quoting smash1820
{quote} I hear ya. You're probably right, but I spend so much screen time in front of the computer that half the reason why I trade 15M is just because I can and have the time. So I know the temptation is always going to be there, which makes the 15M time frame a tough one to avoid. But I will do my best and I agree with most of your statements. You just gotta know when it is okay and/or not okay to apply 15 minute charts. That is why I use a multiple time frame approach that takes into account many variables. Read up on it and you could easily...
Clearly I have a shit load of experience punting away tons of money on lower time frames and missing the big moves. I can relate to your situation and am doing everything I can to better myself as a trader. Too much screen time is a huge weakness.

Less is more.
  • #9,674
  • Nov 27, 2013 3:35pm Nov 27, 2013 3:35pm
could it be some sort of rising wedge on 4H? Don't know about GJ but EJ could be.. For EJ at least, since EUR is not as strong as GBP, I don't think it will pass 140 without a retracement. Of course, can't go short blindly, there's no reason to go short from here just yet. But it is possible to get a retracement from here. Nikkei has been going down as well.. but even if retracement happens it will be within the trend..
  • #9,675
  • Nov 27, 2013 5:46pm Nov 27, 2013 5:46pm
I think the morning news may tell the story - at least in short term on EJ.
  • #9,676
  • Edited Nov 28, 2013 10:27am Nov 27, 2013 6:38pm | Edited Nov 28, 2013 10:27am
that A B C I saw last week is a leg in a wave 3......and couples with more to push the bars on through to new highs and the policy went back to prior to 2007.....smiled when I read that back when it was at 122.plus
  • #9,677
  • Nov 27, 2013 6:42pm Nov 27, 2013 6:42pm
GBP/JPY will reach 170 by december end or may be even before that..
  • #9,678
  • Edited 8:59pm Nov 27, 2013 8:29pm | Edited 8:59pm
It all depends on how it handles this 166.4/5/6 resistance.

If it pushes over it shortly, then it becomes support and when price gets to 168.1/2, that nominally crucial level should break very quickly and price should accelerate away.

If this 166.5 can't break easily, then price retraces, but the rising resistance will meet it higher up towards 168. (confluence of trend lines, this rising resistance and Fib 38 of entire move 250 ~ 117)

This resistance (support at the time) launched GJ on its move out of 147.5 and gave it a boost up to 160. It dropped out of it at 156. Now they meet again for the first time in 1000 pips, but on a different side to when they first met.
  • #9,679
  • Nov 27, 2013 11:43pm Nov 27, 2013 11:43pm
like or not its gonna bearish candle today. RSI (14) overbought on H4 and D1.
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  • #9,680
  • Nov 27, 2013 11:52pm Nov 27, 2013 11:52pm
Quoting khol_hands
like or not its gonna bearish candle today. RSI (14) overbought on H4 and D1. {image} {image}
When GBP is moving so strong.. RSI and other indicators doesn't really help.. it's a calculative move so I doubt your RSI can stop this move.. :-)
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