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Geppy's Geppy Thread (GBP/JPY)

Quoting rattyo
FX RAT REPORTING FOR DUTY Just gone long 17212
Safe to say that everybody made some pips !!!
Fibo on most JPY pairs is pretty strong, but I'm continually amazed at how obedient the this pair is to that magical formula. Whether it's the psychological map of traders' minds or that more of the traders on this pair use Fibo, I'm not sure - but wow. Anyhow, I don't post much, but I thought this was worth the share:

Attached Image
thanks for that chart......nice of ya!
Quoting IveGotQuads
Safe to say that everybody made some pips !!!
Please check out my blog at https://from-zero-to-hero . net
Quoting Chest2Tank
Fibo on most JPY pairs is pretty strong, but I'm continually amazed at how obedient the this pair is to that magical formula. Whether it's the psychological map of traders' minds or that more of the traders on this pair use Fibo, I'm not sure - but wow. Anyhow, I don't post much, but I thought this was worth the share: {image}
Thanks for your chart. I just read your post, lol.
Please check out my blog at https://from-zero-to-hero . net
Quoting Chest2Tank
Fibo on most JPY pairs is pretty strong, but I'm continually amazed at how obedient the this pair is to that magical formula. Whether it's the psychological map of traders' minds or that more of the traders on this pair use Fibo, I'm not sure - but wow. Anyhow, I don't post much, but I thought this was worth the share: {image}
Is it because of the proximity of G/J to the S&P 500? It is often said that GBP/JPY has a leading correlation to the index, and can be used as a good method of forecasting. Did you know of this correlation? And would it still surprise you then if you had known of the forecasting capabilities of this pair?
Please check out my blog at https://from-zero-to-hero . net
Quoting smash1820
{quote} Is it because of the proximity of G/J to the S&P 500? It is often said that GBP/JPY has a leading correlation to the index, and can be used as a good method of forecasting. Did you know of this correlation? And would it still surprise you then if you had known of the forecasting capabilities of this pair?
Yep, it used to be "risk on" or "risk off"....now it's spreads
Gap up... and fade?

Hmmmmmm......

Somehow I doubt it.
Please check out my blog at https://from-zero-to-hero . net
No indication of ceiling at this moment, my projection is 180 and more.
Face both Win and Lose bravely
Quoting Cowboy11
No indication of ceiling at this moment, my projection is 180 and more.
crystal ball projection?
Depending on your trading timeframe, The only way is up in the long term in my opinion.

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This is my daily chart. Price is still well above the blue ALF line, and CCI is still high. Price has room to come down - maybe 171, but the future still looks upwards.

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The monthly chart shows an even more positive upward picture. CCI pointing up, and the chart just "looks" like it wants to keep going up. (I know it's not very scientific saying it "looks" like it wants to go up, but I find a very interesting way of looking at charts is to draw in the next candle, and see how the chart "looks". Works for me!

I don't trade long term charts, rather 5M is my preference, but I always trade with the long term trend, and at the moment that means only buying, never going short.
Holy Grail part 1. - Cut loses short.
I trade long term, so that I dont need to force myself to close a trade and able to sleep well.
M5 is tense. Good that you are able to handle.
Face both Win and Lose bravely
Im getting this eerie feeling this was supposed to be a stop run to the downside
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WOW.
What is the next stop with all these highs?
Those wicks on the peaks tend to point to a fall. "Wicks in direction of loss"

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I'm expecting a fall over the next hour to maybe 172.4 area.
Holy Grail part 1. - Cut loses short.
Quoting mystic
Those wicks on the peaks tend to point to a fall. "Wicks in direction of loss" {image} I'm expecting a fall over the next hour to maybe 172.4 area.
Hahahaha not only you bro, thanks to the "bankers" who needed us to believe it was going high so they could sell their orders to everybody. FACK, can you see that wick that dragged all the buy orders ? so sick
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This temporary manipulation seems to have found a floor at 173.61 ...its almost hit my stop by 2 pips twice. what a way to start the week, no thanks to frankfurt
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When I see the CCI (14) indicator (bottom window) at a level over 200, it always is a good time to enter a trade in the opposite direction.

It is highly probable that we have hit a temporary bottom and price will now go up.

Just an observation I note.
Holy Grail part 1. - Cut loses short.
Quoting mystic
{image} When I see the CCI (14) indicator (bottom window) at a level over 200, it always is a good time to enter a trade in the opposite direction. It is highly probable that we have hit a temporary bottom and price will now go up. Just an observation I note.

Looks good.I would like to see a pullback a little further down.Like 172.26. But its possible it moves up from here.
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