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Geppy's Geppy Thread (GBP/JPY)

  • #9,781
  • Dec 2, 2013 5:46am Dec 2, 2013 5:46am
Quoting Mpt
Gj is in an expending triangle in what could possibly be close to the end. Be aware, that unlike some people profess (and who without exception always hail from a part of the planet wherein graphs always go up and can never possibly come down), this thing will fall. And whenever it does, it may fall catastrophically. Any fall may now not be gradual. My intro to this pair was 500 pips drop in an hour. And I've seen 1000 pips in 10 minutes. Keep any stops tight. Real tight.
Fundamentally and from the point of view of monetary policy the uptrend seems to be justified at the moment, so I doubt that we will see a sharp and violent selloff of 500+ pips in 1 hour, unless of course some external shock factors come into play, which is always a possibility I guess. But I definitely agree with you that a correction at some stage has to take place, if anything on profit taking alone and as bulls take a break looking for better entry levels....
  • #9,782
  • Dec 2, 2013 5:59am Dec 2, 2013 5:59am
Quoting ez0770
{quote} Fundamentally and from the point of view of monetary policy the uptrend seems to be justified at the moment, so I doubt that we will see a sharp and violent selloff of 500+ pips in 1 hour, unless of course some external shock factors come into play, which is always a possibility I guess. But I definitely agree with you that a correction at some stage has to take place, if anything on profit taking alone and as bulls take a break looking for better entry levels....
At 148, when I said that the correction was maybe over, someone jumped in and commented that the "fundamentals" did not support a rise. Look, I'm probably quite wrong, but just be a little cautious. It really doesn't hurt. And if I'm totally wrong, feel free to drag out my comment and have a good laugh.
  • #9,783
  • Dec 2, 2013 6:13am Dec 2, 2013 6:13am
Quoting Mpt
{quote} At 148, when I said that the correction was maybe over, someone jumped in and commented that the "fundamentals" did not support a rise. Look, I'm probably quite wrong, but just be a little cautious. It really doesn't hurt. And if I'm totally wrong, feel free to drag out my comment and have a good laugh.
Given the past volatile behavior of this cross, what you are saying makes perfect sense and a better safe than sorry approach is definitely sensible here...
  • #9,784
  • Dec 2, 2013 6:58am Dec 2, 2013 6:58am
having a good ride on this beast.. target is 170 and after which 180. Will take 20% profit at 170 and more at later stage.
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  • #9,785
  • Dec 2, 2013 8:20am Dec 2, 2013 8:20am
plz i need help
i opened 2 positions one long and one short now my loss with short us$1000
and that of long us$100
what i have to do now to save my account??
  • #9,786
  • Dec 2, 2013 8:23am Dec 2, 2013 8:23am
Quoting forexer11
plz i need help i opened 2 positions one long and one short now my loss with short us$1000 and that of long us$100 what i have to do now to save my account??
can you quickly tell me the price levels..
  • #9,787
  • Dec 2, 2013 8:26am Dec 2, 2013 8:26am
Quoting forexer11
plz i need help i opened 2 positions one long and one short now my loss with short us$1000 and that of long us$100 what i have to do now to save my account??
I think you should use stoploss and dont risk more than 2-3% of your account on 1 trade. Since this pair is going up you could open more long position to maximize your profit, but at first you should close short when u see a good opportunity.
  • #9,788
  • Dec 2, 2013 8:27am Dec 2, 2013 8:27am
Quoting forexer11
plz i need help i opened 2 positions one long and one short now my loss with short us$1000 and that of long us$100 what i have to do now to save my account??
this s my screen now
i need help urgent
plzzzzzzz
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  • #9,789
  • Dec 2, 2013 8:30am Dec 2, 2013 8:30am
Quoting forexer11
{quote} this s my screen now i need help urgent plzzzzzzz {image}
okay saw it..do nothing now.. just keep that going... you will be in trouble if you close either of these at this time.. So, let the price move.. if it goes up to 170-172 then you can close your long as the price will retrace...
  • #9,790
  • Dec 2, 2013 8:32am Dec 2, 2013 8:32am
Quoting veer2010
{quote} okay saw it..do nothing now.. just keep that going... you will be in trouble if you close either of these at this time.. So, let the price move.. if it goes up to 170-172 then you can close your long as the price will retrace...
thanks for ur help
but my margin will stand until that point
???
  • #9,791
  • Dec 2, 2013 8:34am Dec 2, 2013 8:34am
Quoting forexer11
{quote} thanks for ur help but my margin will stand until that point ???
oh you have a long of 0.5 and not 1. Damn.. create a 0.5 long entry at the same price and if price moves higher, you will have equal lot of short and long so you will somehow survive.. but getting out of that needs to be planned..
  • #9,792
  • Dec 2, 2013 8:37am Dec 2, 2013 8:37am
Quoting forexer11
{quote} thanks for ur help but my margin will stand until that point ???
hey do one thing, close that long for a minimum loss now. And create a 1 lot long entry at 168.80. I think price can consolidate or even move a bit lower now.. so you can later adjust the long entry accordingly.
  • #9,793
  • Dec 2, 2013 8:38am Dec 2, 2013 8:38am
Quoting veer2010
{quote} oh you have a long of 0.5 and not 1. Damn.. create a 0.5 long entry at the same price and if price moves higher, you will have equal lot of short and long so you will somehow survive.. but getting out of that needs to be planned..
the cci indicator does not goup 100
this mean it will go down more possible?
  • #9,794
  • Dec 2, 2013 8:43am Dec 2, 2013 8:43am
Quoting forexer11
{quote} the cci indicator does not goup 100 this mean it will go down more possible?
with the way pound is moving now.. indicators are mere spectators.. they are just like some kind of toys for this beast.. current bullish momentum is unlikely to fade.. thats why I had gone long at 167 level.. but anyway, in your case, yes the pound need to take a breather so only thing you can do now is to close that long (in case if there is a top, you can benefit) and create an entry at price just above today's high which is i think 168.80. So, in case price goes up, your long of 1 lot will balance your short entry.. but you need to put money to keep it that way as overnight spread will kill you otherwise.
  • #9,795
  • Dec 2, 2013 8:50am Dec 2, 2013 8:50am
Is that good solution if he doesn't close that 0.5 long, and open another long at lower price then average price will be lower in this case?
  • #9,796
  • Dec 2, 2013 8:55am Dec 2, 2013 8:55am
Quoting szamoca
Is that good solution if he doesn't close that 0.5 long, and open another long at lower price then average price will be lower in this case?
yes possible.. since it is 0.5, if pound goes back below 165, he can come out of it.. but he need to create a long entry as well as possible move is to upside..
  • #9,797
  • Dec 2, 2013 9:11am Dec 2, 2013 9:11am
Quoting khol_hands
hello everyone this is my analyze USD can be strong this week. so GJ will dropped to the earth. {image}
  • #9,798
  • Dec 2, 2013 9:17am Dec 2, 2013 9:17am
Quoting khol_hands
{quote}
GU drops to earth, I get it.. but how can you say GJ drops? I think not possible..GU can drag GJ a bit lower but eventually will move to 175..
  • #9,799
  • Dec 2, 2013 9:46am Dec 2, 2013 9:46am
Got into my second GJ long...momentum is looking good to take out 170..
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  • #9,800
  • Dec 2, 2013 10:34am Dec 2, 2013 10:34am
Quoting veer2010
Got into my second GJ long...momentum is looking good to take out 170.. {image}
I sure hope so, its been quite frustrating to watch today,

I've got the nikkei and jpy index's at critical levels right now, could easily bounce and drop on the 225, but maybe this time it'll make a nice breakthrough and hold above
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