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Geppy's Geppy Thread (GBP/JPY)

  • #10,121
  • Edited Jan 3, 2014 12:29am Jan 2, 2014 6:43pm | Edited Jan 3, 2014 12:29am
Mark Twain has been quoted as saying "History may not repeat itself, but sometimes it rhymes".

It was stated here some time ago that the resemblance of this move and that of December 2012 through to Feb/March 2013 was somewhat uncanny.


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  • #10,122
  • Jan 2, 2014 6:52pm Jan 2, 2014 6:52pm
Quote
I will manage them tightly as I am trading against the trend, and you usually dont have much room because the thing with against the trend trades is it is usually just a pullback or retracement so you cant expect much out of it

It's just a minor pullback in my opinion...as long as the Bank Of Japan continues with it's policy of debasing the Yen, the beast will continue moving up.
  • #10,123
  • Jan 2, 2014 6:59pm Jan 2, 2014 6:59pm
Quoting Jason W
{quote} It's just a minor pullback in my opinion...as long as the Bank Of Japan continues with it's policy of debasing the Yen, the beast will continue moving up.
GBP/JPY cannot move to the upside only with Yen weakness. You need to look at the pound also... In the coming weeks, we will see GBP reaching 1.61 against the dollar and the exotic options capping USD/JPY below 105.50. In this scenario, only path GBP/JPY can take is downward. But I am not saying that bullish trend is done. We need to see 162 level in GBP/JPY first before we march higher to 180.
  • #10,124
  • Jan 2, 2014 7:38pm Jan 2, 2014 7:38pm
Quoting Jason W
{quote} It's just a minor pullback in my opinion...as long as the Bank Of Japan continues with it's policy of debasing the Yen, the beast will continue moving up.
Yeah, right. And we all know that these things always go up in a straight line, don't we? Are you aware as to what pair started this sell down? Honestly, this BOJ mania has now gone so far that recently someone on the GU thread said that Cable wouldn't drop because the BOJ didn't want it!! Cable should hit at least the 1.62 area before it turns. And even then, there will still be doubt as to whether Cable is in a continuation (out of) or medium term reversal (inside) its multi-year triangle. And UJ may well reach its triangle break out target whilst GJ is in a correction wave.

However, assuming this is a modest correction, then it should probably correct in three moves. The first one may not yet be complete.

But I guess that the "buy the beast" contingent will be still buying and over-leveraging because they believe some of the crap comments here that GJ will just keep climbing and climbing - even when it runs into multi month resistance. And more folks will turn up here crying that their accounts have blown up. Such are corrections.
  • #10,125
  • Jan 2, 2014 7:51pm Jan 2, 2014 7:51pm
Quote
GBP/JPY cannot move to the upside only with Yen weakness. You need to look at the pound also

The beast correlates moreso with the Yen than it does the pound....I'm not suggesting discounting the pound, but the Yen is the more dominant component of the geppy and not the sterling....consequently, I stand by my assessment that the pound/yen will continue to appreciate primarily because of the BOJ's policies geared towards Yen weakness...
  • #10,126
  • Jan 2, 2014 8:17pm Jan 2, 2014 8:17pm
DAILY 1/2/14:
GBP weak against USD, EUR, JPY, AUD, NZD and CHF
JPY strong against USD, EUR, GBP, AUD, NZD and CHF

Strong Yen, Weak GBP
= an anticipated fall for the GBPJPY for 1/3/13
Target 1: 171.01 / 170.70
Target 2: 170.01 / 169.53

missed the entry a few minutes ago, waiting for a small pullback...
  • #10,127
  • Jan 2, 2014 8:37pm Jan 2, 2014 8:37pm
Quoting deanoracer
DAILY 1/2/14: GBP weak against USD, EUR, JPY, AUD, NZD and CHF JPY strong against USD, EUR, GBP, AUD, NZD and CHF Strong Yen, Weak GBP = an anticipated fall for the GBPJPY for 1/3/13 Target 1: 171.01 / 170.70 Target 2: 170.01 / 169.53 missed the entry a few minutes ago, waiting for a small pullback...

and there's target 1. sweet
  • #10,128
  • Jan 3, 2014 12:04am Jan 3, 2014 12:04am
Consolidation end at this level.
Face both Win and Lose bravely
  • #10,129
  • Jan 3, 2014 12:30am Jan 3, 2014 12:30am
Quoting Cowboy11
Consolidation end at this level.
time to go further down..
  • #10,130
  • Jan 3, 2014 9:58am Jan 3, 2014 9:58am
Geppy is close to falling even further..

GBPJPY – Strong demand noted into 171.00 with stops below in decent size
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  • #10,131
  • Jan 3, 2014 4:31pm Jan 3, 2014 4:31pm
Cool, and the rule is it has to make a run at 170.77....for a real world...honest to goodness...stop hunt.
No, we shouldn't be buying forever only....on the GBP/JPY.....only if you got in a long time ago. As usual, we still do the short term 15M chart and historical symmetry....trading both ways on the same account if you have a broker in Australia.
  • #10,132
  • Jan 3, 2014 4:46pm Jan 3, 2014 4:46pm
My short target is 1.68, but 1.66 would be a good launching pad for the next leg up...any thoughts?
  • #10,133
  • Jan 4, 2014 9:01pm Jan 4, 2014 9:01pm
all the best for the New Year
Inserted Video
  • #10,134
  • Jan 5, 2014 9:41pm Jan 5, 2014 9:41pm
staying on the sidelines for now on this one....i dont really see a trade at this point based on the system i use..will keep watching....
  • #10,135
  • Jan 5, 2014 9:57pm Jan 5, 2014 9:57pm
Pound is under-performing, Yen is rocking!

GBPJPY – More sell stops under lows of 170.40 down to 170.0 where bids are.
  • #10,136
  • Jan 6, 2014 11:22am Jan 6, 2014 11:22am
GBPJPYH1
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THERE IS NO SYSTEM
  • #10,137
  • Jan 6, 2014 3:37pm Jan 6, 2014 3:37pm
Looking at a possibly buy if 170 holds. If it breaks support I'm gonna wait until around 169.
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"A true speculator tries the market small." - Jesse Livermore
  • #10,138
  • Jan 6, 2014 11:38pm Jan 6, 2014 11:38pm
gbp/jpy BUY alert

don't miss it

don't ask questions

just BUY!
Please check out my blog at https://from-zero-to-hero . net
  • #10,139
  • Jan 6, 2014 11:40pm Jan 6, 2014 11:40pm
Quoting smash1820
gbp/jpy BUY alert don't miss it
can you please explain why..

TP?
Online Prop Firms are not the solution
  • #10,140
  • Edited Jan 7, 2014 12:03am Jan 6, 2014 11:50pm | Edited Jan 7, 2014 12:03am
Quoting pungggi
can you please explain why.. TP?
yes, glad you asked. i guess i will try to be helpful, when and if i can.

here is why i am in the trade. take a look at this picture, and notice how the circle i've highlighted in red the price action is slowly channeling upwards. i dont even draw lines on my charts anymore, i just see this stuff naturally now.

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i am only concerned with the most recent data/trends, and therefore the price action that occurs before the red circle is of little importance to me (for that TF). but notice that within the red circle, price just doesn't want to go down.

of course, i can't say for sure if this setup will work, but it looks good to me, and you're starting to see confluence within the lower-time frame stochastics (ie: < 1H), which is crucial. the longer you're willing to hold on to this trade, the more profits you can expect to make -- because the bull move is still far from over.

as for take profit, i don't have one.... just HOLD... and trust me, you wont regret it

i don't use stops either! but you can always add one later (or T/P), if you so choose.
Please check out my blog at https://from-zero-to-hero . net
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