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Geppy's Geppy Thread (GBP/JPY)

  • #9,941
  • Dec 12, 2013 2:53am Dec 12, 2013 2:53am
nobody looking to the downside?
  • #9,942
  • Dec 12, 2013 3:08am Dec 12, 2013 3:08am
My interpretation of the move today: after the sell off / profit taking from the 170 area we entered a consolidation with buy stops building up between 168.20/168.40 and sell stops below 167.50. News from Japan this morning on further economic stimulus (yen -ve) gave the market the "excuse" it needed to execute the stops to the upside. As already mentioned here by others, we still have to take into account that we've rallied a long way and I'm still of the opinion that we need to pull back further for the uptrend to resume in full force. I believe then that there's a very good chance that the stops below 167.50 will get done eventually and we will see 167/166 again shortly. US data today might confirm/help this scenario or negate it altogether. In the latter case we might test the 169.50/170 area again. After that, I would still expect a correction to the downside. Let's see how this plays out....
  • #9,943
  • Dec 12, 2013 3:31am Dec 12, 2013 3:31am
Quoting tunera
nobody looking to the downside?
I'm selling.

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  • #9,944
  • Dec 12, 2013 3:57am Dec 12, 2013 3:57am
Quoting Oghix
{quote} I'm selling. {image}
  • #9,945
  • Dec 12, 2013 4:08am Dec 12, 2013 4:08am
Any move soon OVER 169.9 probably takes it to about 169.3/4, followed by a 61.8 correction down to about 168.2
  • #9,946
  • Dec 12, 2013 8:11am Dec 12, 2013 8:11am
Backtesting broken uptrend
  • #9,947
  • Dec 12, 2013 8:15am Dec 12, 2013 8:15am
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  • #9,948
  • Edited 10:39am Dec 12, 2013 10:01am | Edited 10:39am
I'm having a blast....scalpers paradise, huh!
The PA is Christmas being good to us style. I swear things have gone into slow motion....except for that huge 150 pip spike on eur/aud...clobbered that us dollar swissy climb out of the hole. The market is likely to get wild and I'm sure we'll see moves that come flying out of no-where.
on December 31st...be ready for the robust move, that occurs every year at that time.( it's seen mainly in GBP/JPY, so... ) So what I have now is a collection of long GBP/JPY trades ...(so I don't have to watch the charts)....some have 850 pips, some have 700 pips, over at Oandy...in Australia, some are down 160 pips...
On this one, don't buy the breaks....buy the dips...down to 162.00 or beyond. Think long term....it's probably going to 314.xx ...The Holy Spirit tells me this stuff... Ya Know!

...
ETA: so that means if we ARE in a downmove that could last awhile...maybe it will end with December.
  • #9,949
  • Dec 12, 2013 11:23pm Dec 12, 2013 11:23pm
Quoting Mpt
Any move soon OVER 169.9 probably takes it to about 169.3/4, followed by a 61.8 correction down to about 168.2
Might go much lower.
  • #9,950
  • Dec 12, 2013 11:25pm Dec 12, 2013 11:25pm
Quoting Mpt
{quote} Might go much lower.
you were saying that if you had known something much earlier then you could have ridden this train to 170. So, according to you, where you see this pair next?
  • #9,951
  • Dec 12, 2013 11:43pm Dec 12, 2013 11:43pm
good ol geppy... a dive down to 168.75 will be good for a run up to 170 ish
  • #9,952
  • Dec 12, 2013 11:53pm Dec 12, 2013 11:53pm
Quoting veer2010
{quote} you were saying that if you had known something much earlier then you could have ridden this train to 170. So, according to you, where you see this pair next?
I was referring to much earlier moves. It remains to be seen whether it's in a correction or not still. If it gets down, then it could still revisit 167 ish.
  • #9,953
  • Dec 13, 2013 12:02am Dec 13, 2013 12:02am
This is the daily chart for GBP/JPY and I am a bit skeptical as this move could go either ways.. it can target 175 or 160 as you can see below..
so an interesting one..
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  • #9,954
  • Dec 13, 2013 12:13am Dec 13, 2013 12:13am
Quoting veer2010
This is the daily chart for GBP/JPY and I am a bit skeptical as this move could go either ways.. it can target 175 or 160 as you can see below.. so an interesting one.. {image}
sorry, meant to say 166. Look where the center of that rising channel sits.
  • #9,955
  • Dec 13, 2013 1:15am Dec 13, 2013 1:15am
Quoting Mpt
{quote} sorry, meant to say 166. Look where the center of that rising channel sits.
HNS On m15
There is no spoon....
  • #9,956
  • Dec 13, 2013 7:26am Dec 13, 2013 7:26am
Quoting cat
Absolutely beautiful moves from this pair recently - it really has become my favourite pair to trade! MACD flattened our as the price criss-crossed the H1 200 exponential moving average yesterday giving a great buy signal earlier this morning. I'm holding a long and am looking at 16,900 as a possible TP,( just below the 61.8% fib ) but will see how price reacts, as it may well go higher, but I do have good resistance now at about 16,990. The great thing with this pair is its tendency to hold a move without the schizophrenia you get in other pairs,...
Geppy hasn't disappointed all week! Someone called this pair boring yesterday!! Well if this is boring, I'll take boring every time. We may see 16,700 today, but I may well close when the current H4 candle closes. Difficult to say where we go from here so I won't try, although 16,705 is the level I'm watching which is the H4 100sma which may send it back up, but not to new highs, yet. Monday is another day.
  • #9,957
  • Dec 14, 2013 8:06pm Dec 14, 2013 8:06pm
Ha....we got this one right where we want him....first serious move to the downside is a sell...otherwise...hold the longs
  • #9,958
  • Dec 14, 2013 11:57pm Dec 14, 2013 11:57pm
Quoting cat
{quote} Geppy hasn't disappointed all week! Someone called this pair boring yesterday!! Well if this is boring, I'll take boring every time. We may see 16,700 today, but I may well close when the current H4 candle closes. Difficult to say where we go from here so I won't try, although 16,705 is the level I'm watching which is the H4 100sma which may send it back up, but not to new highs, yet. Monday is another day.
Looking at the last two candles on the weekly chart and adding what ya see to the massive MACD negative divergence on the daily chart,you may be safe to think 170 was a correction price(right to the figure),and from around fridayz close we may be falling down and looking for support around 163.note also,the daily histogram bar has registered itz first bear bar below the neutral zero line,the bulls had a time in the sun from 12th Nov to 8th Dec-it seemz they are packing up for Christmas
  • #9,959
  • Dec 14, 2013 11:58pm Dec 14, 2013 11:58pm
Quoting tunera
nobody looking to the downside?
you are not alone
  • #9,960
  • Dec 15, 2013 12:07am Dec 15, 2013 12:07am
Quoting Gbp/jpy
I'm having a blast....scalpers paradise, huh! The PA is Christmas being good to us style. I swear things have gone into slow motion....except for that huge 150 pip spike on eur/aud...clobbered that us dollar swissy climb out of the hole. The market is likely to get wild and I'm sure we'll see moves that come flying out of no-where. on December 31st...be ready for the robust move, that occurs every year at that time.( it's seen mainly in GBP/JPY, so... ) So what I have now is a collection of long GBP/JPY trades ...(so I don't have to watch the charts)....some...
I love men who are led by the Holy Spirit....you are my brother for this saying!
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