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Geppy's Geppy Thread (GBP/JPY)

  • #10,421
  • Jan 27, 2014 8:09pm Jan 27, 2014 8:09pm
I can't figure this out now at all. The slow ticks up and the pattern. They are making the attempt to make the pair appear unsellable if you will. So longs at this price get all the risk. So above 170.50 or fail huh? I sold it again as it failed at the pivot yet another time but I'm sure they will find it to be magically supported for another try. I don't know what to think anymore.
Be humble or be humbled.
  • #10,422
  • Jan 27, 2014 8:17pm Jan 27, 2014 8:17pm
And should it get down to about 167, then I also suspect that any move up may not get too far and could be somewhat weak.

On the other hand, were it to break below there and test the support at 163 (and it really is there, even though price shot above it in the previous up move), then this thing could go gangbusters as it climbs.
  • #10,423
  • Jan 27, 2014 9:10pm Jan 27, 2014 9:10pm
........RISE.
Be humble or be humbled.
  • #10,424
  • Jan 27, 2014 9:43pm Jan 27, 2014 9:43pm
For sure. Buyers will rush in at 163. Now that we breached 170.50 I have 171.04 as the next obstacle. That is only if this does not do a slow round about curve back down, seen those too.
Be humble or be humbled.
  • #10,425
  • Jan 27, 2014 9:50pm Jan 27, 2014 9:50pm
5 hours and 40 minutes BOE, GDP year over year. The numbers better be great because Carney is not raising the rates and Japan's programs are working. Maybe no need for further easing in April. Hmm, perhaps this is the last bang em' up data before DOWN to 163.

After this most of the cards have been flipped over.
Be humble or be humbled.
  • #10,426
  • Jan 27, 2014 10:52pm Jan 27, 2014 10:52pm
This is running strong right before our prelim, bullish bo ! Might be good for nice run into the RN 171?
Attached Image (click to enlarge)
Click to Enlarge Name: Selection_005.png Size: 6 KB
All posts are my personal opinion
  • #10,427
  • Jan 27, 2014 10:53pm Jan 27, 2014 10:53pm
Well, the ol' beast reversed back above the neckline of the head and shoulders pattern...

However, I've seen plenty of H&S patterns where this exact same thing took place, only to see the price reverse back down below the neckline, and then continue downward for the real move...

Lets watch and see if this is the case here...stay tuned.
  • #10,428
  • Jan 27, 2014 11:17pm Jan 27, 2014 11:17pm
I say almost certain RTN because that 170.50 area is holding.
Be humble or be humbled.
  • #10,429
  • Jan 27, 2014 11:21pm Jan 27, 2014 11:21pm
Quoting Temujin
I say almost certain RTN because that 170.50 area is holding.

Im going to play it to 171 and 171.20, use the inside bars to hide my stop in support. Dont tell anyone though k
All posts are my personal opinion
  • #10,430
  • Jan 27, 2014 11:25pm Jan 27, 2014 11:25pm
I won't! So funny how no one has to log in here on this site to read threads. They can pick your brain, charts, SL levels analysis with never so much as saying Hi!
Be humble or be humbled.
  • #10,431
  • Jan 27, 2014 11:28pm Jan 27, 2014 11:28pm
Quoting Temujin
I won't! So funny how no one has to log in here on this site to read threads. They can pick your brain, charts, SL levels analysis with never so much as saying Hi!

Yeah I always see the members to visitors ratio and it is CRAZAY! Dem peeps dont like commitment I suppose!
All posts are my personal opinion
  • #10,432
  • Jan 27, 2014 11:29pm Jan 27, 2014 11:29pm
Looking for some bearish price action On H4 around 170.50 area.
Who else is looking to go short
  • #10,433
  • Jan 28, 2014 12:08am Jan 28, 2014 12:08am
Anticipating a rally towards the confluence of the hourly 200SMA, the DTL F diagonal trendline and the 61.8 retracement. The confluence identified in olive was formerly support, could potentially turn to resistance (171.18/171.37). Price has not retested the 200 SMA since breaking thru to the downside.

To the upside, a close and retest that remains above the Olive confluence zone may open the way up towards 171.80 / 172.00
Attached Image (click to enlarge)
Click to Enlarge Name: 2014 01 27_ GBPJPY hourly.jpg Size: 216 KB
  • #10,434
  • Jan 28, 2014 12:21am Jan 28, 2014 12:21am
That's a good chart. Totally makes sense.
Be humble or be humbled.
  • #10,435
  • Jan 28, 2014 12:36am Jan 28, 2014 12:36am
So about the 61.8% area of the swing down.
Be humble or be humbled.
  • #10,436
  • Jan 28, 2014 12:44am Jan 28, 2014 12:44am
Quoting Temujin
So about the 61.8% area of the swing down.
yes, about.

price still struggling / stalling here at the 50% retracement / 4 hour 200SMA... so still some work to do before the previously mentioned zone comes into play.


And up goes the beast as I hit 'post new reply' - nice, see what happens next
  • #10,437
  • Jan 28, 2014 2:55am Jan 28, 2014 2:55am
GBP Order Board ahead of UK GDP
Gbp/Jpy:

  1. 172.40 – Buy stops
  2. 172.00 – Offers
  3. 171.05 - Buy stops
  4. 170.66 – Current Price
  5. 170.20 - Light sell stops
  6. 169.85 – Light sell stops
  7. 169.40 – Sell stops
  8. 169.0 – Bids

  • #10,438
  • Jan 28, 2014 3:25am Jan 28, 2014 3:25am
Quoting cat
Looking to go long on this pair today. Need a small pullback to around 16,893, and then I'm expecting to set a TP once long at 171.20 which is the H1 200ema as it stands right now, and R1 pivot point.
Just closed for 212 pips, just not going to risk holding through GDP. Happy with that.
  • #10,439
  • Jan 28, 2014 3:43am Jan 28, 2014 3:43am
Wow! Nice one.
Be humble or be humbled.
  • #10,440
  • Jan 28, 2014 4:04am Jan 28, 2014 4:04am
I sold at 171.07. So where do we go now? 166?
Be humble or be humbled.
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