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Geppy's Geppy Thread (GBP/JPY)

  • #10,341
  • Jan 24, 2014 12:26am Jan 24, 2014 12:26am
Quoting magicgate
{quote} 172 reached, even 171.47 now i start loading small longs (after GBP retrace will load in full)
That's just the thing, below 170.4 it is reversing .... or bouncing
  • #10,342
  • Jan 24, 2014 1:11am Jan 24, 2014 1:11am
Volatility is indeed increasing. The VIX index spiked up 7% today on the S&P but an increase the measure is usually associated with down moves. The tier one bank is the individual traders enemy and what I know is that when something is rising in a time like this they are marking it up and distributing it. They are not really buying at all anymore. They need buyers now because they want to get rid of this stuff. So they induce and turn all the sellers into buyers. I'm going to stay ahead of them and just take the pain of the draw down so I can score big later when they dump it again after everyone has bought.
Be humble or be humbled.
  • #10,343
  • Jan 24, 2014 1:32am Jan 24, 2014 1:32am
If it goes over about 172.4/5 it continues up. Otherwise its still in reversal mode
  • #10,344
  • Jan 24, 2014 2:53am Jan 24, 2014 2:53am
Thanks for all your help this week MPT. Now I can finally start to be a real trader on these longer time frames and not be glued to a screen 10 hours a day.
Be humble or be humbled.
  • #10,345
  • Jan 24, 2014 4:22am Jan 24, 2014 4:22am
Quoting cat
{quote} you can call it a 50% H4 retrace, or a 76.4% H1 off yesterday's low. Either, she's stopped in her tracks for now. I'm long from 7197 but I'm tentative on it. I'm looking at it to falter at around 7247, but to hopefully move up to 7280 where I have my TP. I think we'll then move down again as H4 has medium term bearishness for me. I think we may have to go down to around 7020 which is the H4 61.8% fib, just above the 200ema.
Approaching H4 61.8% fib, which is right on 200ema. This might stop the fall.
  • #10,346
  • Jan 24, 2014 4:29am Jan 24, 2014 4:29am
Buy limit @ 170.023, looking to catch a bounce away from the round number.
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  • #10,347
  • Jan 24, 2014 4:35am Jan 24, 2014 4:35am
update
sl to BE
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THERE IS NO SYSTEM
  • #10,348
  • Jan 24, 2014 4:46am Jan 24, 2014 4:46am
Quoting GDR3k
Buy limit @ 170.023, looking to catch a bounce away from the round number. {image}


I have BL waiting at 170.020.

170 a strong number and also just above the 23.6.
To live a successful life, we must lose our fear of being wrong
  • #10,349
  • Jan 24, 2014 5:08am Jan 24, 2014 5:08am
Quoting samansadeghi
update sl to BE {image}
closed +80 pips
THERE IS NO SYSTEM
  • #10,350
  • Jan 24, 2014 5:13am Jan 24, 2014 5:13am
Quoting EatPIPs
{quote} I have BL waiting at 170.020. 170 a strong number and also just above the 23.6.
Aye, time will tell

My order has just been filled...
  • #10,351
  • Jan 24, 2014 5:19am Jan 24, 2014 5:19am
Quoting GDR3k
{quote} Aye, time will tell My order has just been filled...
Yep

TP LT 174
To live a successful life, we must lose our fear of being wrong
  • #10,352
  • Jan 24, 2014 5:38am Jan 24, 2014 5:38am
Wow, that was almost a disaster trying to catch a bounce with that kind of downward velocity at 170. Terrible
Be humble or be humbled.
  • #10,353
  • Jan 24, 2014 5:46am Jan 24, 2014 5:46am
SL hit
  • #10,354
  • Jan 24, 2014 5:52am Jan 24, 2014 5:52am
Stupid me. I would rather sleep than be successful. I did all the analysis prior to entering short - was fairly positive of the continuing direction, but the pillow was calling.

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  • #10,355
  • Jan 24, 2014 5:53am Jan 24, 2014 5:53am
Quoting Temujin
Thanks for all your help this week MPT. Now I can finally start to be a real trader on these longer time frames and not be glued to a screen 10 hours a day.
No worries mate. It is REALLY hard determining levels in such a reversal, but I just got home from dinner and saw that all went to plan. Have a good weekend.
  • #10,356
  • Jan 24, 2014 5:54am Jan 24, 2014 5:54am
Oh I should say that I entered short at 171.8x and exited at 172.02 or there abouts. There was no real reason to get out there.
  • #10,357
  • Jan 24, 2014 6:08am Jan 24, 2014 6:08am
I"m gonna step back and trade something slower this last trading day of the week. EUR/USD. The move was so fast I had no business trying to get greedy and close my short for a bounce. It was fun though. Have a great weekend everybody.
Be humble or be humbled.
  • #10,358
  • Jan 24, 2014 6:33am Jan 24, 2014 6:33am
Quoting Temujin
I"m gonna step back and trade something slower this last trading day of the week. EUR/USD. The move was so fast I had no business trying to get greedy and close my short for a bounce. It was fun though. Have a great weekend everybody.
Pending long at 169
  • #10,359
  • Jan 24, 2014 7:02am Jan 24, 2014 7:02am
I had to come back and trade NY. There is some dough to be made here. The 169 area is holding but we are still pre market.
Be humble or be humbled.
  • #10,360
  • Jan 24, 2014 7:08am Jan 24, 2014 7:08am
This is gonna be tricky. DOW futures are getting worse by the hour, at a minus 100 now. Gold is up $7.80. This is gonna be another dive for the markets but the bounce will be lucrative. The question is where to go long.
Be humble or be humbled.
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