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Geppy's Geppy Thread (GBP/JPY)

  • #10,481
  • Jan 29, 2014 6:26pm Jan 29, 2014 6:26pm
Yes on the 15 min. chart it is just treading water.
Be humble or be humbled.
  • #10,482
  • Jan 29, 2014 6:49pm Jan 29, 2014 6:49pm
Yes, GJ is not clear. UJ, on the other hand is. A UJ break under 101.8 says bearish.
  • #10,483
  • Jan 29, 2014 6:55pm Jan 29, 2014 6:55pm
The level is trying to hold MPT but I'm just not seeing any enthusiastic demand for the rate here.
Be humble or be humbled.
  • #10,484
  • Jan 29, 2014 7:30pm Jan 29, 2014 7:30pm
Quoting Temujin
The level is trying to hold MPT but I'm just not seeing any enthusiastic demand for the rate here.
Be that as it may, but, depending on how you interpret the previous two moves up from 167.7 then down to here, there still exists a very real potential for GJ to turn quickly and become extremely bullish
  • #10,485
  • Jan 29, 2014 10:25pm Jan 29, 2014 10:25pm
71 pips up from the new open so far in Tokyo.
Be humble or be humbled.
  • #10,486
  • Jan 29, 2014 11:07pm Jan 29, 2014 11:07pm
Quoting Mpt
there still exists a very real potential for GJ to turn quickly and become extremely bullish
U/J is on its way back up now, so G/J should follow. I haven't looked at G/J just yet, but I agree with this post, as it is aligned with my beliefs.
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  • #10,487
  • Edited 11:51pm Jan 29, 2014 11:23pm | Edited 11:51pm
Haven't posted a picture for a while. I've removed all the channels that make this pattern. Green area is test of break out (so far as I can tell). If folks don't know what it is, it's called a diamond - and I hate them. They occur at the bottom or top of a trend as a reversal, or in the middle as a continuation. Did I say I hate them? VERY happy to be wrong on this one, because it can just as easily become more complex and still turn into a continuation. We had a vaguely similar one last January that was a continuation.

If price gets much above the green area, then I was wrong and this is the general area where GJ starts to rise again.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyh4.png Size: 42 KB
  • #10,488
  • Jan 29, 2014 11:54pm Jan 29, 2014 11:54pm
On the H4 it looks like a triple bottom now. I'm going to leave it alone for a while. Taking small losses here and there and it's becoming annoying. That's why the bank algorithms cost millions; it knows human reasoning on trade entries and throws the trade the other way to cause a new belief. After that loss is closed then it moves back. Little losses, the commission and spread can add up.
Be humble or be humbled.
  • #10,489
  • Jan 30, 2014 12:03am Jan 30, 2014 12:03am
Quoting Temujin
On the H4 it looks like a triple bottom now. I'm going to leave it alone for a while. Taking small losses here and there and it's becoming annoying. That's why the bank algorithms cost millions; it knows human reasoning on trade entries and throws the trade the other way to cause a new belief. After that loss is closed then it moves back. Little losses, the commission and spread can add up.
Which ever way it goes, we're approaching the business end of all this crap and direction will become very clear.

Re triple bottoms etc, people on the UJ thread thought similar things about its correction that it fell out of a few days ago. Only one perosn over there made a feeble attempt to show that it was bearish - and he was rubbished for drawing trendlines in silly places.
  • #10,490
  • Jan 30, 2014 12:42am Jan 30, 2014 12:42am
Wow, that tells me it's in a complex place that's beyond my level. I see 170.30 at the weekly pivot as resistance now. It's also been decoupled from the Nikkei for quite some time now I see. Tokyo fell big time tonight by 377 points but this thing bulled up 77 pips during the session. The Nikkei has fallen all week and now stands at a 15,000 level. I suspect that once it gains it's footing and we see a relief rally GBP/JPY will latch onto it and power up with monster gains in one mere session once everyone is short.
Be humble or be humbled.
  • #10,491
  • Jan 30, 2014 2:01am Jan 30, 2014 2:01am
Wow, looks as though 169 is the multiple test line and it's passing the test so far.
Be humble or be humbled.
  • #10,492
  • Jan 30, 2014 2:29am Jan 30, 2014 2:29am
Uh FAIL!
Be humble or be humbled.
  • #10,493
  • Jan 30, 2014 2:52am Jan 30, 2014 2:52am
Yes! Come on RISE!!!!
Be humble or be humbled.
  • #10,494
  • Jan 30, 2014 3:02am Jan 30, 2014 3:02am
168.50 then the D1 55 EMA @ 168.18 They are having great difficulty holding it aloft above 169.
Be humble or be humbled.
  • #10,495
  • Jan 30, 2014 3:04am Jan 30, 2014 3:04am
Just let it touch 168.58 I will be very happy. Short it from 169.45
  • #10,496
  • Jan 30, 2014 3:09am Jan 30, 2014 3:09am
Quoting Temujin
168.50 then the D1 55 EMA @ 168.18 They are having great difficulty holding it aloft above 169.
Stuff emas. I drew a tl target on my earlier chart. Use your imagination. If this thing is to rise way up and maybe never come back (for a long time anyway), what level has not yet been tested? If you were leaving for a long time, would you not want to have your affairs in order? Think about it.
  • #10,497
  • Jan 30, 2014 3:10am Jan 30, 2014 3:10am
Maybe 168.63 was it for the night? It's 110 pips down.
Be humble or be humbled.
  • #10,498
  • Jan 30, 2014 3:12am Jan 30, 2014 3:12am
Quoting Temujin
Maybe 168.63 was it for the night? It's 110 pips down.

Well 168.63 with the spread, I already move my SL to 169.00. People can have a wishful thinking.
  • #10,499
  • Jan 30, 2014 3:46am Jan 30, 2014 3:46am
UJ should start to fall shortly
  • #10,500
  • Jan 30, 2014 3:50am Jan 30, 2014 3:50am
Quoting Mpt
UJ should start to fall shortly

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