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Geppy's Geppy Thread (GBP/JPY)

  • #10,621
  • Edited 7:09am Feb 6, 2014 7:05am | Edited 7:09am
Scaled in in 2 short entries ...one at 165.36 and another at 165.29 The risk to reward more than compensates for the volatility of this pair . cheers

Looking to get stopped out or get to the finish line
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  • #10,622
  • Feb 6, 2014 8:28am Feb 6, 2014 8:28am
Quoting FX-Ray
{quote} 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. {image}
Dat Shakeout
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  • #10,623
  • Feb 6, 2014 8:34am Feb 6, 2014 8:34am
Quoting IveGotQuads
Scaled in in 2 short entries ...one at 165.36 and another at 165.29 The risk to reward more than compensates for the volatility of this pair . cheers Looking to get stopped out or get to the finish line {image}
took a 21 pip loss on this trade. Although the instant feedback was in the right direction temporarily, the trade couldnt stand the overwhelming US news effect on all pairs accross the boards. The market is always right at the end. Back to the drawing board
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  • #10,624
  • Feb 6, 2014 8:47am Feb 6, 2014 8:47am
Quoting FX-Ray
{quote} Dat Shakeout {image}
Stats
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  • #10,625
  • Feb 6, 2014 8:54am Feb 6, 2014 8:54am
Quoting IveGotQuads
{quote} took a 21 pip loss on this trade. Although the instant feedback was in the right direction temporarily, the trade couldnt stand the overwhelming US news effect on all pairs accross the boards. The market is always right at the end. Back to the drawing board {image}
Fact or Fiction?
  • #10,626
  • Feb 6, 2014 9:37am Feb 6, 2014 9:37am
Quoting FX-Ray
{quote} Fact or Fiction?
Fact....US news in particular the USD affects all pairs. Its a fact that All pairs are just a derivative of the USD crosses...In this instance Gbp/Jpy is a cross between Gbp/USd and USd/yen. If you do the calculations or divisions you get Gbp/Jpy's number although it might be off by some 0.0000 decimals but its there. forgotten how to calculate it but you can do the research for yourself dont take my word for it.
  • #10,627
  • Feb 6, 2014 9:41am Feb 6, 2014 9:41am
Quoting IveGotQuads
{quote} Fact....US news in particular the USD affects all pairs. Its a fact that All pairs are just a derivative of the USD crosses...In this instance Gbp/Jpy is a cross between Gbp/USd and USd/yen. If you do the calculations or divisions you get Gbp/Jpy's number although it might be off by some 0.0000 decimals but its there. forgotten how to calculate it but you can do the research for yourself dont take my word for it.
GBP/USD * USD/YEN * 1/GBP/JPY = 1

Nothing new. I joust doubt the cause is the news event.

Add:
News are just a catalyst for volatility imho
  • #10,628
  • Feb 6, 2014 9:47am Feb 6, 2014 9:47am
Quoting FX-Ray
{quote} GBP/USD * USD/YEN * 1/GBP/JPY = 1 Nothing new. I joust doubt the cause is the news event. Add: News are just a catalyst for volatility imho
Ahh there it is , but yeah you are right . News are just an excuse for the big boys to do what they want AKA get into their positions with the liquidity that news events provides....its my opinion anyway. Although a lot of people might disagree. My views on the market are a bit different than mainstream
  • #10,629
  • Feb 6, 2014 9:59am Feb 6, 2014 9:59am
Quoting IveGotQuads
{quote} Ahh there it is , but yeah you are right . News are just an excuse for the big boys to do what they want AKA get into their positions with the liquidity that news events provides....its my opinion anyway. Although a lot of people might disagree. My views on the market are a bit different than mainstream
Well you are right, News providing liquidity and thats all it is.
Excuse for what, for taking away money from greedy noobs who believes can enter the market and taking it away from banks? They get what they deserve.
Big Boys dont do what they want but they just know what they are doing. Period.

Thats a competitive game, you play against the best at any given moment, this is a battlefield, a arena, a slaughterhouse, expect me. There is no room for mercy, there shouldnt.
Adapt or die.
  • #10,630
  • Feb 6, 2014 10:08am Feb 6, 2014 10:08am
Quoting FX-Ray
{quote} Well you are right, News providing liquidity and thats all it is. Excuse for what, for taking away money from greedy noobs who believes can enter the market and taking it away from banks? They get what they deserve. Big Boys dont do what they want but they just know what they are doing. Period. Thats a competitive game, you play against the best at any given moment, this is a battlefield, a arena, a slaughterhouse, expect me. There is no room for mercy, there shouldnt. Adapt or die.
Looks like you are the first person ive come across on the forums that understands this. Its a pity that most traders dont know but hey the less they know I guess the better for us that do. In any event this week has been brutal, down like 40 pips for the week but im up 600+ pips for the year so far. Ill add you if you dont mind. Ill soon stop posting on the forums for a while.
  • #10,631
  • Feb 6, 2014 10:24am Feb 6, 2014 10:24am
You guys are spot on.....in the old days I'd read about how the mof of the boe heard a rumor and used vague wording in his speech at a Holiday Inn.........that caused that 330+ pip violent up-move with the Mexican Peso
  • #10,632
  • Edited 10:53am Feb 6, 2014 10:41am | Edited 10:53am
Quoting Gbp/jpy
You guys are spot on.....in the old days I'd read about how the mof of the boe heard a rumor and used vague wording in his speech at a Holiday Inn.........that caused that 330+ pip violent up-move with the Mexican Peso
Check this:
http://en.wikipedia.org/wiki/Tulip_mania

1636-37

The old is forever new.
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  • #10,633
  • Feb 6, 2014 11:07am Feb 6, 2014 11:07am
180 in 4 months. Retracement is over. Weekly trend resumes. Buy dips for the next 4 months and make loads of money.
  • #10,634
  • Feb 6, 2014 11:22am Feb 6, 2014 11:22am
Quoting $teve
180 in 4 months. Retracement is over. Weekly trend resumes. Buy dips for the next 4 months and make loads of money.
yeah, was hoping for 1 more low but this looks to be the case. unless the trap market rules again.
  • #10,635
  • Feb 6, 2014 11:57am Feb 6, 2014 11:57am
If it blows through 167 area then the rally is on and im buying dips. If it gets hung up at 167 can easily turn and make a new low around 163, and im buying there. In between not too sure.
  • #10,636
  • Feb 6, 2014 12:11pm Feb 6, 2014 12:11pm
Quote
180 in 4 months. Retracement is over. Weekly trend resumes. Buy dips for the next 4 months and make loads of money.

Quote
If it blows through 167 area then the rally is on and im buying dips. If it gets hung up at 167 can easily turn and make a new low around 163, and im buying there. In between not too sure.

Its time to buy boys!
To live a successful life, we must lose our fear of being wrong
  • #10,637
  • Feb 6, 2014 1:03pm Feb 6, 2014 1:03pm
Nice movement today, i am still hanging on, cheers mate, take me as a trainee, be my mentor for bit of technical wisdom. . ?thats for you FX-RAY

.[quotet qu95]{quote, stillDat Shakeout {image}[/quote]
  • #10,638
  • Feb 6, 2014 1:14pm Feb 6, 2014 1:14pm
Back for more. We'll see what the NFP says tomorrow about risk appetite.
Be humble or be humbled.
  • #10,639
  • Feb 6, 2014 3:03pm Feb 6, 2014 3:03pm
Quoting Temujin
Back for more. We'll see what the NFP says tomorrow about risk appetite.

167 should be quite quick to get. Wouldn't be surprised if was Tokyo behind this move. Leading indicators tomorrow expected up. I won't buy the dips until 168.
  • #10,640
  • Feb 6, 2014 3:49pm Feb 6, 2014 3:49pm
There has been huge chunks bitten out of the Nikkei. It's down about 7% in 6 trading days One day alone it was down more than 4%. Most of the time but not always it follows NY. We could see pretty nice relief rally in a couple hours.
Be humble or be humbled.
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