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Geppy's Geppy Thread (GBP/JPY)

  • #9,701
  • Nov 28, 2013 3:20am Nov 28, 2013 3:20am
I think u forget that there will be more yen printing, and if cable breaks past 1.6350 then the new range (dependent on economic data) could be 1.63 to 1.70 area, in which case gbp/yen would easily be in the 170s
  • #9,702
  • Edited 3:52am Nov 28, 2013 3:20am | Edited 3:52am
Quoting monkey@forex
{quote} So from 168, maybe an ABC correction followed by the next 1000 pip move up? What's your target mpt, short term u say 168, what's ur midterm n long term target, and over what period of time? If u don't mind answering
After completing this one, a 38 or so fallback to not below 157, then a fifth wave up into 176 to 179.

Then a three wave correction down to not below 138 and then up again...aggressively. All next year.
  • #9,703
  • Nov 28, 2013 5:39am Nov 28, 2013 5:39am
170 ~180 is on the way. Not see the ceiling yet.
Face both Win and Lose bravely
  • #9,704
  • Nov 28, 2013 5:40am Nov 28, 2013 5:40am
Still 80% retailers are short this pair.. no wonder it is creeping up.. 170 sure in 2 days.. and by end of december may be 175..
  • #9,705
  • Nov 28, 2013 5:59am Nov 28, 2013 5:59am
I took a long position target 170.
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  • #9,706
  • Nov 28, 2013 6:00am Nov 28, 2013 6:00am
Quoting veer2010
I took a long position target 170. {image}
stop loss just set to 165
  • #9,707
  • Nov 28, 2013 6:19am Nov 28, 2013 6:19am
Quoting veer2010
I took a long position target 170. {image}
would have been better to wait for a retrace before jumping in the train! i see a retrace to 165.85 before the continuation.

best of luck!
  • #9,708
  • Nov 28, 2013 6:21am Nov 28, 2013 6:21am
Quoting fxmasterdxb
{quote} would have been better to wait for a retrace before jumping in the train! i see a retrace to 165.85 before the continuation. best of luck!
you're right as well..but I didn't want to miss out on the rally so I got into it.. don't mind 15 pips drop from here as my SL is set to 165 for me to be in the trade
  • #9,709
  • Edited 7:11am Nov 28, 2013 6:33am | Edited 7:11am
Guys, Shud I really close my short position from 164.4? Guys kindlyadvice
  • #9,710
  • Nov 28, 2013 6:39am Nov 28, 2013 6:39am
Quoting veer2010
{quote} you're right as well..but I didn't want to miss out on the rally so I got into it.. don't mind 15 pips drop from here as my SL is set to 165 for me to be in the trade
your account and your choice mate, i went short on the retest of 167.19 and targeting 166, will long 165.85 if it holds
  • #9,711
  • Nov 28, 2013 8:21am Nov 28, 2013 8:21am
Quoting fxmasterdxb
{quote} your account and your choice mate, i went short on the retest of 167.19 and targeting 166, will long 165.85 if it holds
It has been one hour now and we both are at the same price zone :-).. i am long and you're short..lol
  • #9,712
  • Edited 9:03am Nov 28, 2013 8:45am | Edited 9:03am
Quoting veer2010
{quote} It has been one hour now and we both are at the same price zone :-).. i am long and you're short..lol
ehmmm... too risky I think you long (overreacted) when the market overbought. just update twezer top was formed on H1 GJ or EJ.hope you have a good day.cheersss
  • #9,713
  • Nov 28, 2013 8:54am Nov 28, 2013 8:54am
Quoting khol_hands
{quote} ehmmm... too risky I think you sell (overreacted) when the market overbought. just update twezer top was formed on H1 GJ or EJ.hope you have a good day.cheersss
Another note, USDJPY reached 102.37 and that was 76.4% fib and went down 15 pips after hitting it. I think we will see a small pullback here--buy on dips opportunity.
  • #9,714
  • Nov 28, 2013 8:58am Nov 28, 2013 8:58am
Quoting counterpoint
{quote} Another note, USDJPY reached 102.37 and that was 76.4% fib and went down 15 pips after hitting it. I think we will see a small pullback here--buy on dips opportunity.

There are some big option plays around 103 and 103.25 that are coming up next week and the first one is said to be a large digital option at 103.25 worth a $20mil payout. The price needs to be above for the win but barriers in place at 103 and 103.25 (said to expire 20th Dec) they may be too tough to crack.
Usual caveat with options, don’t hang your hat on them.
  • #9,715
  • Nov 28, 2013 10:31am Nov 28, 2013 10:31am
Quoting Mpt
If it does stop here and falls back a little, the resistance could have held. I will post a chart in the next day or so that it somewhat creative, but after three f-ing years with this thing may actually tell the truth for once. And its one that I don't think many so called analysts have considered. Essentially, it may achieve its initial target in five moves. Most people have considered this to be the final or fifth up-move - one that will extend a long way. But this move up from 147 may only be the third wave - with the very first beginning at...
Yes and to go with that, the Nikkea was mentioned two pages back.....bouncing off res.....that's a textbook wave 5 waiting to go through....on Nikkea
  • #9,716
  • Nov 28, 2013 10:43am Nov 28, 2013 10:43am
HI everyone, what do you guys think of appr. 150 correction on basically every GBP pair (exp. J, AUD, CH, CAD, USD)?
Thanx a lot for opinions
Everything is gonna be OK at the end. If its not OK Its not the end
  • #9,717
  • Nov 28, 2013 10:45am Nov 28, 2013 10:45am
Folks, GBP/JPY is going back to 251. Been saying this for a while now ever since 140.

And it'll probably take G/U and U/J with it.

Let's trade it well.
Please check out my blog at https://from-zero-to-hero . net
  • #9,718
  • Nov 28, 2013 6:32pm Nov 28, 2013 6:32pm
Bearish supporting arguments

An apparent terminating wedge inside a larger rising wedge. Maybe five moves completed in the wedge. Maybe only four - possibly one more move up.

Trying to break a nominal rising channel at 167, just barely succeeding and now going sideways.

As price moves up, (not in a consolidation) divergence showing on lower time frames.

4hr stretched. Most indicators are showing bearishness is coming. Weekly looking like it wants to turn down in the next few days.


Bullish view

It could be a trick. It may not yet be an ending diagonal (bearish) but a leading diagonal (bullish) or just a rising channel (bullish).

If it moves up implusively from here towards and over 168.2~5, it will accelerate away towards 175


It HAS to confirm its intentions
  • #9,719
  • Nov 28, 2013 7:22pm Nov 28, 2013 7:22pm
short 168
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  • #9,720
  • Nov 28, 2013 8:23pm Nov 28, 2013 8:23pm
delete
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