Geppy's Geppy Thread (GBP/JPY)

BTW, what time frame do you guys trade this monster on? I would like to do H4 or daily. Is 167.50 in the cards now you think?

It all depends now whether it gets rejected from here or crawls back over the daily pivot break out area. Basically, as odd as it sounds, it could still be in a nasty uptrend and should it still break 172 and 172.3 ish, it will be heading up to 173 next then 174. The next hour or three should answer that

Wow, I'm upset. Sold at 171.85 and it went down 50 pips. Now every single one of those has been bought up with good speed and now I'm in the negative. I see what they are doing and it is undeniable. Every dip is bought up higher no matter what trend line breaks, no matter the pattern or wave. Risk is offset on news and profits are taken only to be met with strong bidding. Oh man, I'm so pissed right now.

1/3 of analysts think new easing will be announced in April and the CPI forecast is too high and will have to be adjusted lower. More of a case for further stimulus measures. I'm just going to stop thinking about ever selling this pair successfully. A trend reversal will simply not be allowed. The pound is already very powerful among almost every currency out there, what more against one that is purposefully and severely weakened by Japan to meet it's goals.

Ever read Zero Hedge guys? There is a saying when the US Fed started to jack the S&P through the stratosphere..............BTFATH.

BUY THE F#@!ING ALL TIME HIGH.

I bought Geppy on 2014.01.20 ... I use D1 charts. 171.224 was the price. I hope it goes past 175.

SL was @ 169.879 so good R/R.

BTW, I doubled my trade size and bought at 172.07 just now like an idiot but it worked, oh goodness! Took the profit. Let's see what these Japanese men have to say, press in 48 minutes. Okay I'll just tell myself to never sell it, never sell it, never sell it. Just breathe, it's okay now.

Nice job FX342271. Since this is the 2nd round of easing coming up here this is how I think it will go; we are in a front running phase of it now. Buy until the projected exchange rate. Somewhere Between here and 178. Then in April TP the actual announcement. A race to the future rate. Then take profit once the future catches up to the present. Sonno Joi! (For the Emperor). Hai!

h1 & h4. Target clearly shown on H4.

Well, PA tryed this level 172.00 twice yesterday and it never hold. We might be stuck in this narrow range 171.2X/172.00 for a few more hours, just gotta wait for whatever comes out of UK today in hope that it will lift the fog, 'cos it's hard to see any direction right now... (but the graph keeps shouting "going up!!" to me)

All significant support below is now used up. If it wishes to fall, it has a fairly clear run

One last thing before I head off. I know full well that new traders just love to use new indicators. Find the old Auslanco thread here on FF and grab an indicator called Que's Gann. It may not be perfect, but it shows you where the support resistance is for any timeframe. The usual reference for such S/R is the daily gann.

We trade just below it as it sits right now at 172.1

Press ban until 8:00 GMT LOL!

Mpt, could you please attach that Indicator I've seen on some chart and I think it is nice.

Que's Gann, hmmm. Worth a look for sure. Up, up, up. Fast, slow, slower but up. Sellers will be broken on the wheel of Tokyo justice with the full weight of the Bank of Nippon. Not cool at all. They will have their inflation target for the glory of Shinzo Abe. I don't want to stand in the way of that. They will flatten me.

Have a look here

http://www.forexfactory.com/showthre...81#post1866081

Gann hi lo

If GJ leaves 171.7 it should accelerate

UK news & data in 1hr.
G/J Buy stops at 172.45. Sell stops at 171.25 & 170.55.
Positive data would trigger a long order at 172.45 towards 173.0 as I'm overall bullish on GbpJpy.

What is this thing MPT? How do you use it? It looks just like a MA line.

Yeah I think so Emerald eyes but it's tanking now.

That's the beauty of it. Nothing flash. No bells and whistles. Just a line - that looks like a moving average line. But it shows S/R and is extremely useful. Obviously you've got it now - see where daily res sits? See where weekly res sits this week?

Well where does the daily and weekly resistance sit?

i was short from 1.69 and 1.70 and got burnt when it turned up to 1.72...
so now I'm clearing my head and rethinking
if the correction was only down to 1.68, then I guess long target is 178
any thoughts?

The bulls will have one final Horah rally before this downward move continues and you can bet that the news in 20 mins will fuel this rally.