Geppy's Geppy Thread (GBP/JPY)

Same for you cpb1624....you have the Spirit!!

Patience, fellow grasshoppers, a good long entry price will show itself in coming days. For now I'll let the shorts make some money, and maybe join in with them

GJ now trades into the highest resistance area it has seen for many months. If it breaks 171.4, then probably 173.5~174.3. Whatever happens, it may enter a complex consolidation pattern 174/176/165/164 somewhat akin to January 2013. After that time, I expect significant new highs.

But, for now, it's probably best to let it do its thing for a week or three as it's unlikely that George Soros will be back this Christmas to re-run his last years' efforts.

If people wish to trade this probable consolidation, then good on them. Experience dictates that consolidations are where you lose your money and I will wait for it to complete and be back next year.

Best wishes to all and merry Christmas from down in Queensland Australia where we will have a traditional Christmas day of mid 30s (90f) and probable thunderstorms, accompanied with heaps of white wine, prawns and turkey and a dunk in the pool.

Catch you later and be good.

GJ has stand firm on 170 level, so it will go up......................

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Yes, and thanks for well wishes for us on this thread. Tis the season to be cautious about that Japan induced turn at their holiday...December 29, 30. A holly jolly good time to stay reserved with the thin-ness. I'll be making a list and checking it twice...before entering this market till about the 29th or so. To all....Peace on Earth and goodwill from God toward us men.

Yes, Merry Christmas and Happy Holidays to all, and to all a Happy (and very $$$ prosperous) New Year!

I cannot help but wonder, will the BoJ use this holiday season as another chance to knock the shorts off their feet?

As in... a push towards 172 this week? Or next? Intermediate time-frame charts are consolidating -- once again -- which leads me to believe that the downside from here may be extremely limited. Hence, I am still long.

And if ya stay tuned with me, great fellas and practioners, I will bless you all with a very fortunate and spirited holiday gift... that is NOT TO BE MISSED!

Technicians are saying 171.35 is max upside for this pair before continuation of downtrend which could take it back to breakout resistance of 162.5 area possibly when pairs get extremely crowded like this downside moves tend to be extremely ugly in the near term but are just mere corrections in the long term outlook there are clear bearish divergences that persist on the USD/JPY as well as GBP/USD when it comes to the daily so I would be trading cautiously if I'm bull downside in the near term looks extremely profitable vs a continuation of an overwhelmingly long market

BOJ has promised other nations no new stimulus in the forseeable future other countries in the region are concerned about the devaluation and the fact that they themselves cant compete. I wouldn't fall to much in love with this up move near term this risk is for a nice dump but longer term significant higher highs are still in the cards

MERRY CHRISTMAS TO YOU ALL ON FOREX FACTORY...GOD BLESS YOU INDEED

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sell 171.90

Good luck

added more 172.
will cut first sell sooner

You are selling this wild currency pair when the market is almost closed??

wild makes it more interesting. would you buy gbp/jpy now at 171.95?

No, because I forgot to buy it at 163 :-)
There is very low probability, that current trend will be changed. Unless UK start counter steps. But UK is a sitting duck since the "Steam era" has ended.
But if you are an intraday trader then you can always find your Top's in this Pair.

i dun see why you are selling this pair.. i could c 174 coming soon.. i can smell it

Alright!!!! I told ya guys, 172 was coming! W00t w00t, it has been a nice ride this Christmas.

Finally caught up to where my P&L used to be, and starting to enjoy the ride now... hopefully in time for the big selloff that will inevitably occur within the next few weeks or months, where we should be able to make even more green pips still. I'm not sure when the selloff will occur, but it will be sometime in the future and I agree with a former post that it will probably be rather sharp.

This is one of my better trades, an easy 130+ pips overnight while I was sleeping. I knew the Geppy wanted to run, and run fast, so it's no surprise to me that this move occurred very quickly right smack in the middle of the holiday season (hence my comment about "knocking the shorts off their feet").



No offense, but I think those technicians were wrong, and my post proves that technical analysis (as well as my system) does work, but i would stay away from listening to the big media and crap like that, it probably just confuses you and makes you question your trading decisions anyhow! Each person is saying something different, how are you supposed to figure out what is real and matters, or what is significant, if you don't even know how to identify the "crowd behavior" in the markets?

I think it is much better to learn to think for yourself and trade accordingly. Form your own opinions about the markets, and if you don't have enough knowledge to do that, then you probably shouldn't be trading in the first place. I'm not at all saying that trading has to be hard; it can, in fact, be very simple and very easy. But that is if and only if you have the correct discipline to follow your system at all times, and never deviate from the plan.

... And I don't always have that discipline

Although, I'm not sure it's too late to start buying at all. This is still a tremendous upward move and it could well push farther than 172.00 in my opinion. Although I'm not sure I would suggest or recommend it right now, the 171.95 area might still be a decent place to put on a small long, as I have done, and will continue to monitor closely. It is possible we may range between 171.50 and 172.00 for a while, before eventually moving higher too.

So nice move so far, and there has been so much strength lately in G/J that it makes me believe the bulls are not done as of yet -- and 172 may not be the end -- but we'll have to monitor the price action and wait to see where the high comes in, because it also is coming eventually. But I would not expect big breakouts beyond 172 now; at best, one could probably expect a slow grind.

Yes, my banker buddy says TP 174.87

FX RAT REPORTING FOR DUTY

Just gone long 17212