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Geppy's Geppy Thread (GBP/JPY)

  • #10,561
  • Feb 3, 2014 5:27am Feb 3, 2014 5:27am
166 looks like a good place to long. Ideally, I'd like to see 163.50 tested and a big bounce followed. Then I could build a long term long for 180+.
  • #10,562
  • Feb 3, 2014 5:39am Feb 3, 2014 5:39am
Quoting $teve
166 looks like a good place to long. Ideally, I'd like to see 163.50 tested and a big bounce followed. Then I could build a long term long for 180+.

Decent reaction at 166, but the Nikkei is not pushing higher yet.
  • #10,563
  • Feb 3, 2014 10:44am Feb 3, 2014 10:44am
What is happening here guys!! I have a long position at 168, now trading 165. Need help, please.
  • #10,564
  • Feb 3, 2014 10:57am Feb 3, 2014 10:57am
The dragon finally got me. I must lick my wounds. I 'll see you guys soon.
Be humble or be humbled.
  • #10,565
  • Feb 3, 2014 11:31am Feb 3, 2014 11:31am
Gbp/jpy .. just follow the flow guys.. stop logic..just ride
  • #10,566
  • Feb 3, 2014 11:51am Feb 3, 2014 11:51am
I don't there is any LOGIC with Geppy anyways, it happened end of December for an up spike and now it is down spike. Bad luck for me! caught in wrong direction both times!! Any light anyone!!
  • #10,567
  • Feb 3, 2014 12:59pm Feb 3, 2014 12:59pm
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  • #10,568
  • Feb 3, 2014 1:22pm Feb 3, 2014 1:22pm
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  • #10,569
  • Feb 3, 2014 6:50pm Feb 3, 2014 6:50pm
OK, it dropped out of the 'cloud' and cloud base sits now at about 165.2. Any break over there will try for 165.7/165.75, which happens to be the daily pivot. (and a level discussed here yesterday)

Failure there takes it to new lows. A last second break over there could well reset the uptrend.
  • #10,570
  • Feb 4, 2014 12:18am Feb 4, 2014 12:18am
Where is geepy heading to???
Hoping the next construction pmi news would propel a retrace
  • #10,571
  • Feb 4, 2014 1:50am Feb 4, 2014 1:50am
No signs of coming back, thinking when to cut loss, is it the start of a downtrend or making a new range.
  • #10,572
  • Feb 4, 2014 2:14am Feb 4, 2014 2:14am
It depends on unknowns such as a bounce at 163.5/163/162.5. Failing that, the bottom is likely to be around 160, followed by a big bounce. Any such bounce may revisit 174, or it may be lower (170 or 167 ish). The bottom and the bounce will tell us where GJ is headed in the medium term.

At the moment it gives the impression of building an ending diagonal triangle, so it is still just possible that it will bounce off 163.5
  • #10,573
  • Feb 4, 2014 3:18am Feb 4, 2014 3:18am
Quoting workingforex
I don't there is any LOGIC with Geppy anyways, it happened end of December for an up spike and now it is down spike. Bad luck for me! caught in wrong direction both times!! Any light anyone!!
Believe me there is logic, all over the chart. Are you still short? You might get lucky. You are already down several 100 pips so hold it until 171.10/70.90. We might get a bottom @ 164.60/40. Below it there is no guarantee. Since you are in pain, get a reward from it.
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  • #10,574
  • Feb 4, 2014 3:31am Feb 4, 2014 3:31am
Well, there we go.
  • #10,575
  • Feb 4, 2014 3:40am Feb 4, 2014 3:40am
massive short covering across the boards.
sell all rallies.
  • #10,576
  • Feb 4, 2014 3:40am Feb 4, 2014 3:40am
Thanx Fx-Ray, U are the only Ray of hope for me! very encouraging. I hope I see light at the end of this long-dark tunnel. I have long position from 167.

Cheers mate, keep it up!!
  • #10,577
  • Edited 4:00am Feb 4, 2014 3:47am | Edited 4:00am
Quoting workingforex
Thanx Fx-Ray, U are the only Ray of hope for me! very encouraging. I hope I see light at the end of this long-dark tunnel. I have long position from 167. Cheers mate, keep it up!!
If today 165.50/30 holds as support we probably see 166.40/20
For the next time: Cut your losses, thats the dragon, not some sheep.
  • #10,578
  • Feb 4, 2014 3:47am Feb 4, 2014 3:47am
Price is retracing back to my high probability zone, so this should be good enough momentum
for price to bounce and go bearish
  • #10,579
  • Feb 4, 2014 3:55am Feb 4, 2014 3:55am
IV
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  • #10,580
  • Feb 4, 2014 4:01am Feb 4, 2014 4:01am
Quoting FX-Ray
{quote} If today 165.50/30 holds as support we probably see 166.40/20 For the next time: Cut your losses, thats the dragon, not some sheep.

Okay 165.50/30 looks fine so far. Next decision point @ 166.40/20
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